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REGISTERED NUMBER: 09376740 (England and Wales)









EXETER HEART LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024






EXETER HEART LIMITED (REGISTERED NUMBER: 09376740)






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 LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







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





REGISTERED OFFICE: 7 Sandy Court
Ashleigh Way
Langage Business Park
Plympton
Devon
PL7 5JX





REGISTERED NUMBER: 09376740 (England and Wales)





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

EXETER HEART LIMITED (REGISTERED NUMBER: 09376740)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 45,198 59,249
Investments 7 25,000 25,000
70,198 84,249

CURRENT ASSETS
Debtors 8 129,555 119,768
Cash at bank 205,055 107,526
334,610 227,294
CREDITORS
Amounts falling due within one year 9 275,478 163,496
NET CURRENT ASSETS 59,132 63,798
TOTAL ASSETS LESS CURRENT LIABILITIES 129,330 148,047

PROVISIONS FOR LIABILITIES 11,100 14,800
NET ASSETS 118,230 133,247

CAPITAL AND RESERVES
Called up share capital 360 360
Retained earnings 117,870 132,887
SHAREHOLDERS' FUNDS 118,230 133,247

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 LIMITED (REGISTERED NUMBER: 09376740)

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

1. STATUTORY INFORMATION

Exeter Heart 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.

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.

Turnover
Turnover represents invoiced sales of medical procedures and consultation services. Income is recognised in the period when the service is provided.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, has been fully amortised over it's useful economic life of 5 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant & Equipment - 25% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Investments
Investments represent debentures held by the company which are valued at cost less amounts written off to reflect a permanent diminution in value.

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

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

Creditors
Short term creditors are measured at the transaction price.


EXETER HEART LIMITED (REGISTERED NUMBER: 09376740)

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

3. ACCOUNTING POLICIES - continued
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).

Pension costs and other post-retirement benefits
Short- term employee benefits and contributions to defined contribution plans are recognised as an expense in the period in which they are incurred.

Provision of 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 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 cost in profit or loss in the period it arises.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 5 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 67,734
AMORTISATION
At 1 February 2023
and 31 January 2024 67,734
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 -

EXETER HEART LIMITED (REGISTERED NUMBER: 09376740)

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

6. TANGIBLE FIXED ASSETS
Plant &
Equipment
£   
COST
At 1 February 2023 129,047
Additions 1,014
At 31 January 2024 130,061
DEPRECIATION
At 1 February 2023 69,798
Charge for year 15,065
At 31 January 2024 84,863
NET BOOK VALUE
At 31 January 2024 45,198
At 31 January 2023 59,249

7. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 February 2023
and 31 January 2024 25,000
NET BOOK VALUE
At 31 January 2024 25,000
At 31 January 2023 25,000

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 81,707 75,521
Amounts owed by group undertakings 6,672 -
Other debtors 41,176 44,247
129,555 119,768

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 19,217 9,472
Amounts owed to group undertakings 21,329 1,975
Taxation and social security 164,000 147,800
Other creditors 70,932 4,249
275,478 163,496