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Registered number: 07753836
ERHIT LIMITED
ABRIDGED Financial Statements
For The Year Ended 28 February 2024
John A. Porter & Co.
74 Dickenson Road
Rusholme
Manchester
M14 5HF
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—6
Page 1
Abridged Balance Sheet
Registered number: 07753836
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 22,262 27,812
Investments 6 1,821,981 1,955,245
1,844,243 1,983,057
CURRENT ASSETS
Stocks 7 89,543 187,043
Debtors 179,817 359,291
Cash at bank and in hand 898,575 796,364
1,167,935 1,342,698
Creditors: Amounts Falling Due Within One Year (627,885 ) (945,729 )
NET CURRENT ASSETS (LIABILITIES) 540,050 396,969
TOTAL ASSETS LESS CURRENT LIABILITIES 2,384,293 2,380,026
Creditors: Amounts Falling Due After More Than One Year (16,583 ) (27,787 )
NET ASSETS 2,367,710 2,352,239
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account 2,367,708 2,352,237
SHAREHOLDERS' FUNDS 2,367,710 2,352,239
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For the year ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 28 February 2024 in accordance with section 444(2A) of the Companies Act 2006.
The financial statements were approved by the board of directors on 19 November 2024 and were signed on its behalf by:
Dr Robert Hollingsworth
Director
19 November 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Abridged Financial Statements
1. General Information
ERHIT LIMITED is a private company, limited by shares, incorporated in England & Wales.
The registered number is 07753836 .
The registered office is 74 Dickenson Road, Rusholme, Manchester, M14 5HF.
Dividends paid to the Directors are reported in the notes to the accounts.
Transactions with Medical Data Solutions and Services Ltd. are reported in the notes to the accounts.
There are no other related party transactions to report.
There are no contingent liabilities or post balance sheet events to report.
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 represents the addition of grants received and invoiced services net of Value Added Tax (VAT).
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less accumulated depreciation.
Depreciation is calculated at the following annual rates in order to write off each asset over its estimated useful life.
Motor Vehicles 20% Reducing Balance
Fixtures & Fittings 15% Reducing Balance
Computer Equipment 20% Reducing Balance
No depreciation is provided in the year of acquisition.
2.4. Stocks and Work in Progress
Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Work in Progress is valued at the prime cost of labour and materials plus other direct expenses.
2.5. Investments & Investment Income
Investments are stated at mid-market value at the balance sheet date. Unrealised investment gains and losses are calculated as the difference between the valuation at the balance sheet date and their valuation at the last balance sheet date or purchase price, if acquired during the year. 
Investment income comprises investment income, realised and unrealised investment gains and losses less investment expenses. Realised investment gains and losses are calculated as the difference between net proceeds on disposal and their purchase price.
2.6. Accounting Reference Date
The accounting reference date has been changed to 25 February. These accounts are nevertheless for year ending on 28 February 2024.
2.7. Comparative Figures
The comparative figures used throughout these accounts are as at 28 February 2023 or are for the year ending on that date.
2.8. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Directors 2 2
2 2
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4. Interest Payable and Similar Charges
2024 2023
£ £
Bank loans and overdrafts 822 1,065
Other finance charges 37 -
859 1,065
5. Tangible Assets
Total
£
Cost
As at 1 March 2023 57,854
As at 28 February 2024 57,854
Depreciation
As at 1 March 2023 30,042
Provided during the period 5,550
As at 28 February 2024 35,592
Net Book Value
As at 28 February 2024 22,262
As at 1 March 2023 27,812
6. Investments
Total
£
Cost
As at 1 March 2023 1,955,245
Additions 89,941
Revaluations (223,205 )
As at 28 February 2024 1,821,981
Provision
As at 1 March 2023 -
As at 28 February 2024 -
Net Book Value
As at 28 February 2024 1,821,981
As at 1 March 2023 1,955,245
Investments are stated at mid-market value at the balance sheet date.
Unrealised investment gains and losses are calculated as the difference between the valuation at the balance sheet date and their valuation at the last balance sheet date or purchase price, if acquired during the year. 
The historical cost of the investments are £2,069,205 (2023 £1,979,265)
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7. Stocks
2024 2023
£ £
Work in progress 89,543 187,043
8. Share Capital
2024 2023
Allotted, called up and fully paid £ £
2 Ordinary Shares of £ 1.00 each 2 2
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 March 2023 Amounts advanced Amounts repaid Amounts written off As at 28 February 2024
£ £ £ £ £
Mrs Emma Hollingsworth (9,072 ) 126,080 (37,100 ) - 79,908
Dr Robert Hollingsworth (9,071 ) 126,080 (37,100 ) - 79,909
The overdrawn loan account is unsecured and repayable on demand.
The loan was subject to interest calculated by reference to the official rate of interest which was 2.25% throughout the period in which the loan account was overdrawn.
The loan account was not overdrawn at any stage during the year ended 28 February 2023.
The loan accounts were returned to credit in the first week of March 2024 by way of two repayments each of £100,000.
Dividends paid to Directors
2024 2023
£ £
Mrs Emma Hollingsworth 28,000 -
Dr Robert Hollingsworth 28,000 -
10. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 56,000 -
11. Related Party Transactions
Medical Data Solutions and Services Ltd. is owned and controlled by Dr Robert Hollingsworth and Mrs Emma Hollingsworth and is an associated company.
ERHIT Limited was formed in August 2011 to pursue new trading opportunities unconnected to existing contracts which then constituted the basis of trade of Medical Data Solutions and Services Ltd.
The expense base of the combined entities is focused within Medical Data Solutions and Services Ltd. An equitable allocation of expenses and division of profits between each company is achieved by means of contract charges levied on ERHIT Limited by Medical Data Solutions and Services Limited.
Contract charges after adjusting for opening and closing accruals were as follows:
Wages and Other Direct Costs £390,000 (2023 £375,000)
Occupancy Expenses £18,000 (2023 £18,000)
Computer Expenses £16,000 (2023 £15,000)
Management Charge £60,000 (2023 £56,000)
The amount owed by ERHIT Limited to Medical Data Solutions and Services Ltd. at the year end date was £130,599 (2023 £593,839)
...CONTINUED
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11. Related Party Transactions - continued
Contract charges for the year ended 28 February 2024 totalling £484,000 excluding VAT (2023 £464,000) were invoiced by Medical Data Solutions and Services Ltd. In two equal instalments on 1 September 2023 and 1 March 2024. The second instalment totalling £242,000 is included in accruals.
In addition to the above, this year wages and other direct costs also includes a sum of £135,010 to equate to the amounts billed by ERHIT Limited in the year for support of the International Burn Injury Database, formerly invoiced through Medical Data Solutions and Services Ltd.
12. Ultimate Controlling Party
The Company was controlled throughout the year by Dr Robert Hollingsworth and Mrs Emma Hollingsworth who each held one £1 Ordinary Voting Share, there being only two £1 Ordinary Voting Share in issue. 
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