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Registered number: SC391366
Hypex Ltd
Financial Statements
For The Year Ended 31 December 2025
Khokhar McAdam Ltd
Chartered Accountants
1 Eagle Street
Glasgow
G4 9XA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: SC391366
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 636,875 663,715
636,875 663,715
CURRENT ASSETS
Stocks 5 105,505 129,819
Debtors 6 24,366 55,937
Cash at bank and in hand 170,552 143,250
300,423 329,006
Creditors: Amounts Falling Due Within One Year 7 (105,197 ) (173,934 )
NET CURRENT ASSETS (LIABILITIES) 195,226 155,072
TOTAL ASSETS LESS CURRENT LIABILITIES 832,101 818,787
Creditors: Amounts Falling Due After More Than One Year 8 (106,654 ) (98,536 )
NET ASSETS 725,447 720,251
CAPITAL AND RESERVES
Called up share capital 10 10 10
Profit and Loss Account 725,437 720,241
SHAREHOLDERS' FUNDS 725,447 720,251
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For the year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Anil Sood
Director
8 September 2026
The notes on pages 3 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Hypex Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC391366 . The registered office is 1 Eagle Street, Craighall Business Park, Glasgow, G4 9 XA.
The presentation currency of the financial statements is Sterling (£).
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold
Plant & Machinery 10% on cost
Motor Vehicles 20% on cost
Fixtures & Fittings 10% on cost
Computer Equipment 10% on cost
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2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2024: 6)
6 6
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 January 2025 606,319 50,673 72,380 19,191
Additions - - - 82
As at 31 December 2025 606,319 50,673 72,380 19,273
Depreciation
As at 1 January 2025 - 38,342 52,330 17,631
Provided during the period - 5,067 14,476 1,569
As at 31 December 2025 - 43,409 66,806 19,200
Net Book Value
As at 31 December 2025 606,319 7,264 5,574 73
As at 1 January 2025 606,319 12,331 20,050 1,560
Computer Equipment Total
£ £
Cost
As at 1 January 2025 75,155 823,718
Additions 1,895 1,977
As at 31 December 2025 77,050 825,695
Depreciation
As at 1 January 2025 51,700 160,003
Provided during the period 7,705 28,817
As at 31 December 2025 59,405 188,820
Net Book Value
As at 31 December 2025 17,645 636,875
As at 1 January 2025 23,455 663,715
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5. Stocks
2025 2024
£ £
Finished goods 105,505 129,819
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 24,366 55,937
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 9,423 -
Trade creditors 35,393 64,329
Other creditors 17,385 47,841
Taxation and social security 42,996 61,764
105,197 173,934
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 13,691 -
Bank loans 92,963 98,536
106,654 98,536
9. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 9,423 -
Later than one year and not later than five years 13,691 -
23,114 -
23,114 -
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10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 10 10
11. Related Party Transactions
At 31 December 2025 the company owed Mr A Sood, a director, £8,779 (2024: £45,980). The balance is unsecured, interest free and repayable on demand.
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