Company Registration No. 13467459 (England and Wales)
Harper Medical Technology Limited
Unaudited accounts
for the year ended 30 April 2024
Harper Medical Technology Limited
Unaudited accounts
Contents
Harper Medical Technology Limited
Company Information
for the year ended 30 April 2024
Director
Dr. Vaibhav SHARMA
Company Number
13467459 (England and Wales)
Registered Office
27 Old Gloucester Street
London
London
WC1N 3AX
England
Harper Medical Technology Limited
Statement of financial position
as at 30 April 2024
Intangible assets
-
11,212
Cash at bank and in hand
970
1,902
Creditors: amounts falling due within one year
-
(1,794,068)
Net current assets/(liabilities)
1,070
(1,792,066)
Net assets/(liabilities)
1,070
(1,769,723)
Called up share capital
100
100
Profit and loss account
970
(1,769,823)
Shareholders' funds
1,070
(1,769,723)
For the year ending 30 April 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 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 31 January 2025 and were signed on its behalf by
Dr. Vaibhav SHARMA
Director
Company Registration No. 13467459
Harper Medical Technology Limited
Notes to the Accounts
for the year ended 30 April 2024
Harper Medical Technology Limited is a private company, limited by shares, registered in England and Wales, registration number 13467459. The registered office is 27 Old Gloucester Street, London, London, WC1N 3AX, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
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. The financial statements have been prepared under the historical cost convention.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
Straight line 5 years
Computer equipment
Straight line 5 years
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Patents and licences are being amortised evenly over their estimated useful life of ten years.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Harper Medical Technology Limited
Notes to the Accounts
for the year ended 30 April 2024
4
Intangible fixed assets
Other
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Patents and licences are being amortised evenly over their estimated useful life of ten years.
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Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 May 2023
8,146
10,354
18,500
Disposals
(8,146)
(10,354)
(18,500)
At 1 May 2023
1,705
5,664
7,369
On disposals
(1,705)
(5,664)
(7,369)
At 30 April 2023
6,441
4,690
11,131
Amounts falling due within one year
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Creditors: amounts falling due within one year
2024
2023
Amounts owed to group undertakings and other participating interests
-
1,794,068
Harper Medical Technology Limited
Notes to the Accounts
for the year ended 30 April 2024
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Transactions with related parties
During the financial year, the company was party to a related-party transaction with Harper Medical Limited, a company under common control of the director, Dr Vaibhav Sharma.
The company had previously received a loan from Harper Medical Limited, amounting to £1,795,566.23.
Due to the company’s financial position, Harper Medical Limited has impaired the full £1,795,566.23 of the outstanding loan.
The impairment of the loan has been recognised as other income in the Profit and Loss Account for the year ended 30 April 2024.
The company is controlled by Harper Medical Limited which is the parent undertaking.
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Average number of employees
During the year the average number of employees was 0 (2023: 12).