IDEAL INNOVATION UK CIC

Company limited by guarantee

Company Registration Number:
12534501 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2024

Period of accounts

Start date: 1 April 2023

End date: 31 March 2024

IDEAL INNOVATION UK CIC

Contents of the Financial Statements

for the Period Ended 31 March 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Community Interest Report

IDEAL INNOVATION UK CIC

Directors' report period ended 31 March 2024

The directors present their report with the financial statements of the company for the period ended 31 March 2024

Principal activities of the company

Company activity has been less frequent this year owing to the Director’s other professional commitments but continues to collaborate with a range of individuals and organisations in the UK and beyond to further the work surrounding the IDEAL methodology.



Directors

The director shown below has held office during the whole of the period from
1 April 2023 to 31 March 2024

Prof. Peter McCulloch


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
22 November 2024

And signed on behalf of the board by:
Name: Prof. Peter McCulloch
Status: Director

IDEAL INNOVATION UK CIC

Profit And Loss Account

for the Period Ended 31 March 2024

2024 2023


£

£
Turnover: 4,000 11,978
Cost of sales: ( 426,780 ) ( 9,851 )
Gross profit(or loss): (422,780) 2,127
Distribution costs: 0 0
Administrative expenses: ( 42,680 ) ( 2,400 )
Other operating income: 0 0
Operating profit(or loss): (465,460) (273)
Interest receivable and similar income: 0 0
Interest payable and similar charges: 0 0
Profit(or loss) before tax: (465,460) (273)
Tax: 0 0
Profit(or loss) for the financial year: (465,460) (273)

IDEAL INNOVATION UK CIC

Balance sheet

As at 31 March 2024

Notes 2024 2023


£

£
Fixed assets
Intangible assets:   0 0
Tangible assets:   0 0
Investments:   0 0
Total fixed assets: 0 0
Current assets
Stocks:   0 0
Debtors:   0 0
Cash at bank and in hand: 13,171 51,550
Investments:   0 0
Total current assets: 13,171 51,550
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year:   0 0
Net current assets (liabilities): 13,171 51,550
Total assets less current liabilities: 13,171 51,550
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: 0 0
Accruals and deferred income: 0 0
Total net assets (liabilities): 13,171 51,550
Members' funds
Profit and loss account: 13,171 51,550
Total members' funds: 13,171 51,550

The notes form part of these financial statements

IDEAL INNOVATION UK CIC

Balance sheet statements

For the year ending 31 March 2024 the company was entitled to exemption 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.

This report was approved by the board of directors on 22 November 2024
and signed on behalf of the board by:

Name: Prof. Peter McCulloch
Status: Director

The notes form part of these financial statements

IDEAL INNOVATION UK CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 101

IDEAL INNOVATION UK CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 0 0

COMMUNITY INTEREST ANNUAL REPORT

IDEAL INNOVATION UK CIC

Company Number: 12534501 (England and Wales)

Year Ending: 31 March 2024

Company activities and impact

The company was established via a grant from the University of Oxford and was incorporated as a Community Interest Company on 25 March 2021. The company was founded to provide benefit to health care innovators, regulators, researchers, commissioners and those involved with health technology assessment, via research, education, training and consultancy. Company activity has been less frequent this year owing to the Director’s other professional commitments but continues to collaborate with a range of individuals and organisations in the UK and beyond to further the work surrounding the IDEAL methodology.

Consultation with stakeholders

The company’s stakeholders consist of, but are not limited to health care innovators, regulators, researchers, commissioners and those involved with health technology assessment as well as patients. By focusing its efforts on improving the safety and effectiveness of evaluating surgical innovation within these key groups, it is hoped that patients internationally will benefit. As such, consultation with stakeholders is at the very core of the company’s mission and this process has continued throughout the 23/24 financial year.

Directors' remuneration

No remuneration was received

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
22 November 2024

And signed on behalf of the board by:
Name: Prof. Peter McCulloch
Status: Director