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REGISTERED NUMBER: 07341400 (England and Wales)















HEART NETWORKS UK LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024






HEART NETWORKS UK LIMITED (REGISTERED NUMBER: 07341400)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HEART NETWORKS UK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: Dr W Parkar
Mrs S M Parkar
Miss E C Parkar
Miss H F Parkar





REGISTERED OFFICE: 15 Christie Way
Christie Fields
Manchester
M21 7QY





REGISTERED NUMBER: 07341400 (England and Wales)





ACCOUNTANTS: Clarke Nicklin LLP
Chartered Accountants
Clarke Nicklin House
Brooks Drive
Cheadle Royal Business Park
Cheadle
Cheshire
SK8 3TD

HEART NETWORKS UK LIMITED (REGISTERED NUMBER: 07341400)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 29,187 38,244
Tangible assets 5 76,272 41,113
105,459 79,357

CURRENT ASSETS
Debtors 6 162,570 127,017
Cash at bank and in hand 779,735 238,870
942,305 365,887
CREDITORS
Amounts falling due within one year 7 236,432 162,113
NET CURRENT ASSETS 705,873 203,774
TOTAL ASSETS LESS CURRENT
LIABILITIES

811,332

283,131

CREDITORS
Amounts falling due after more than one
year

8

(10,508

)

(20,754

)

PROVISIONS FOR LIABILITIES (19,068 ) (10,278 )
NET ASSETS 781,756 252,099

CAPITAL AND RESERVES
Called up share capital 10 396 130
Retained earnings 781,360 251,969
SHAREHOLDERS' FUNDS 781,756 252,099

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

HEART NETWORKS UK LIMITED (REGISTERED NUMBER: 07341400)

BALANCE SHEET - continued
30 JUNE 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 January 2025 and were signed on its behalf by:





Dr W Parkar - Director


HEART NETWORKS UK LIMITED (REGISTERED NUMBER: 07341400)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Heart Networks UK 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

Going concern
The directors have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have reached this conclusion giving due consideration to the projected future performance of the company and any potential risk that might impact the company's ability to meet its required solvency levels. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
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.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


HEART NETWORKS UK LIMITED (REGISTERED NUMBER: 07341400)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 July 2023 87,867
Additions 3,456
At 30 June 2024 91,323
AMORTISATION
At 1 July 2023 49,623
Amortisation for year 12,513
At 30 June 2024 62,136
NET BOOK VALUE
At 30 June 2024 29,187
At 30 June 2023 38,244

HEART NETWORKS UK LIMITED (REGISTERED NUMBER: 07341400)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 July 2023 67,909 53,219 121,128
Additions 18,715 51,200 69,915
At 30 June 2024 86,624 104,419 191,043
DEPRECIATION
At 1 July 2023 29,528 50,487 80,015
Charge for year 15,034 19,722 34,756
At 30 June 2024 44,562 70,209 114,771
NET BOOK VALUE
At 30 June 2024 42,062 34,210 76,272
At 30 June 2023 38,381 2,732 41,113

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 162,570 -
Prepayments and accrued income - 127,017
162,570 127,017

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,246 9,992
Corporation tax 213,347 10,533
Social security and other taxes 2,994 -
Net wages 2,047 -
Other creditors 845 2,064
Directors' current accounts 48 14,748
Accrued expenses 6,905 124,776
236,432 162,113

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 10,508 20,754

HEART NETWORKS UK LIMITED (REGISTERED NUMBER: 07341400)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 20,754 30,746

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
100 Ordinary £1 100 100
100 Ordinary A £1 100 10
98 Ordinary B £1 98 10
98 Ordinary C £1 98 10
396 130

The following shares were issued during the year for cash at par:

90 Ordinary A Shares of £1
88 Ordinary B Shares of £1
88 Ordinary C Shares of £1

11. ULTIMATE CONTROLLING PARTY

The controlling party is Dr W Parkar.