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REGISTERED NUMBER: 09990806 (England and Wales)









EXETER HEART HOLDINGS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024






EXETER HEART HOLDINGS LIMITED (REGISTERED NUMBER: 09990806)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


EXETER HEART HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: Sir M Dalrymple-Hay
Dr M J Lovell
Prof N Bellenger
Dr A J Ludman
Dr S J Podd





REGISTERED OFFICE: C/O Mark Holt & Co Limited
7 Sandy Court
Ashleigh Way, Langage Business Park
Plympton
PL7 5JX





REGISTERED NUMBER: 09990806 (England and Wales)





ACCOUNTANTS: Mark Holt & Co Limited
Chartered Accountants
7 Sandy Court
Ashleigh Way
Langage Business Park
Plymouth
Devon
PL7 5JX

EXETER HEART HOLDINGS LIMITED (REGISTERED NUMBER: 09990806)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investments 5 1,440,050 1,440,000

CURRENT ASSETS
Debtors 6 456,960 259,148
Cash at bank 644,926 600,000
1,101,886 859,148
CREDITORS
Amounts falling due within one year 7 5,550 47,363
NET CURRENT ASSETS 1,096,336 811,785
TOTAL ASSETS LESS CURRENT LIABILITIES 2,536,386 2,251,785

CAPITAL AND RESERVES
Called up share capital 366,667 366,667
Capital redemption reserve 73,333 73,333
Retained earnings 2,096,386 1,811,785
2,536,386 2,251,785

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 September 2024 and were signed on its behalf by:





Sir M Dalrymple-Hay - Director


EXETER HEART HOLDINGS LIMITED (REGISTERED NUMBER: 09990806)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Exeter Heart Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about Exeter Heart Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned companies within the group.

Investments in subsidiaries
Investments in subsidiaries and other unlisted investments are valued at cost or directors' valuation less amounts written off to reflect either a permanent diminution in value or net asset value in the case of trading concerns.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at the transaction price.

Taxation
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.

Deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.

Deferred tax is calculated using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

The tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income).

EXETER HEART HOLDINGS LIMITED (REGISTERED NUMBER: 09990806)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

3. ACCOUNTING POLICIES - continued

Provisions for liabilities
Provisions are recognised when the Company has a present (legal or constructive) obligation as a result of a past event; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

The amount recognised as a provision is the best estimate of the consideration required to settle the present recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance costs in profit or loss in the period it arises.

The Company recognises a provision for annual leave accrued by employees for services rendered in the current period, and which employees are entitled to carry forward and use within the next 12 months, measured at the salary costs payable for the period of absence.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 4 ) .

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 February 2023 1,440,000
Additions 50
At 31 January 2024 1,440,050
NET BOOK VALUE
At 31 January 2024 1,440,050
At 31 January 2023 1,440,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 21,329 1,975
Other debtors 435,631 257,173
456,960 259,148

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 50 -
Taxation and social security 1,500 400
Other creditors 4,000 46,963
5,550 47,363

EXETER HEART HOLDINGS LIMITED (REGISTERED NUMBER: 09990806)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at 1st February 2023, the Directors owed the company an aggregate £150,213.

During the year, the Directors had advances of funds totalling £892,007 and repaid monies totalling £670,345.

As at 31st January 2024, the Directors owed the company £371,875.

The amounts due are repayable on demand.

Amounts advanced are charged interest at 2.25% per annum on balances over £10,000, with the exception of where loans have been provided to purchase shares in the company.

Section 455 tax has been applied to the overdrawn balances where applicable and paid to HMRC accordingly.