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REGISTERED NUMBER: 14784969 (England and Wales)















Hospital Innovation Holdings Limited

Financial Statements for the Period 6 April 2023 to 30 June 2024






Hospital Innovation Holdings Limited (Registered number: 14784969)






Contents of the Financial Statements
for the Period 6 April 2023 to 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Hospital Innovation Holdings Limited

Company Information
for the Period 6 April 2023 to 30 June 2024







Directors: D Devine
J Gannon





Registered office: Concept House
1 Heol Y Twyn
Talbot Green Business Park
Pontyclun
CF72 9FG





Registered number: 14784969 (England and Wales)





Auditors: Haines Watts Wales LLP, Statutory Auditors
7 Neptune Court
Vanguard Way
Cardiff
CF24 5PJ

Hospital Innovation Holdings Limited (Registered number: 14784969)

Balance Sheet
30 June 2024

Notes £   
Fixed assets
Tangible assets 4 -
Investments 5 100
100
Total assets less current liabilities 100

Capital and reserves
Called up share capital 6 100
Capital redemption reserve (1,297,167 )
Retained earnings 1,297,167
100

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 6 February 2025 and were signed on its behalf by:





J Gannon - Director


Hospital Innovation Holdings Limited (Registered number: 14784969)

Notes to the Financial Statements
for the Period 6 April 2023 to 30 June 2024

1. Statutory information

Hospital Innovation Holdings 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.

Preparation of consolidated financial statements
The financial statements contain information about Hospital Innovation Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, MedScience Group Limited, .

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.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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 period 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.

3. Employees and directors

The average number of employees during the period was NIL.

Hospital Innovation Holdings Limited (Registered number: 14784969)

Notes to the Financial Statements - continued
for the Period 6 April 2023 to 30 June 2024

4. Tangible fixed assets
Freehold
property
£   
Cost
Additions 1,185,000
Disposals (1,185,000 )
At 30 June 2024 -
Net book value
At 30 June 2024 -

During the period, the company received a dividend in specie from its subsidiary of a property at fair value. The property was subsequently transferred out under a restructure to a non Group company.

5. Fixed asset investments
Shares in
group
undertaking
£   
Cost
Additions 112,267
Disposals (112,167 )
At 30 June 2024 100
Net book value
At 30 June 2024 100

Hospital Innovations Holdings has a 100% investment in Hospital Innovations Limited to the value of £100.

During the period, the company received a dividend in specie from its subsidiary of an investment at fair value. The investment was subsequently transferred out under a restructure to a non Group company.

6. Called up share capital

On incorporation, the company issued 100 ordinary shares of £1 each to Mr W P Davies.

On 9 June 2023 a further 100 ordinary shares of £1 each were allotted to Mr Davies, with the 200 shares reclassified into 100 I shares and 100 T shares.

On 28 June 2023, by written resolution and as part of a restructuring exercise, the issued share capital of the company was reduced from £200 to £100 by cancelling and extinguishing 100 issued I ordinary shares of £1 each in the company, leaving the 100 T ordinary shares. On this date, the remaining T shares transferred ownership from Mr W P Davies to Medscience Distribution Ltd.

7. Disclosure under Section 444(5B) of the Companies Act 2006

The Report of the Auditors was unqualified.

Clive Edwards (Senior Statutory Auditor)
for and on behalf of Haines Watts Wales LLP, Statutory Auditors

8. Ultimate controlling party

As at 30th June 2024, the immediate parent company is Medscience Disbtribution Ltd (02491098), the ultimate parent company is MedScience Group Limited (IE420569). The registered office for the immediate parent company is available on Companies House, whilst the group parent registered office is Unit 3, Clonmore Business Park, Mullingar, Co. Westmeath, N91 DK59.