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Registered number: 06809432









HURST MEDICAL LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
1,714
2,732

  
1,714
2,732

Current assets
  

Debtors: amounts falling due within one year
 6 
129,613
99,322

Cash at bank and in hand
 7 
261,092
375,712

  
390,705
475,034

Creditors: amounts falling due within one year
 8 
(132,768)
(117,361)

Net current assets
  
 
 
257,937
 
 
357,673

Total assets less current liabilities
  
259,651
360,405

Creditors: amounts falling due after more than one year
 9 
(61,567)
(6,356)

Provisions for liabilities
  

Deferred tax
  
-
(580)

 
HURST MEDICAL LIMITED
 
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024


  
 
 
-
 
 
(580)

Net assets
  
198,084
353,469


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
197,984
353,369

  
198,084
353,469


Page 1

 
HURST MEDICAL LIMITED
REGISTERED NUMBER: 06809432
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




R J Ticehurst
Director

Date: 29 January 2025

The notes on pages 3 to 9 form part of these financial statements.
Page 2

 
HURST MEDICAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Hurst Medical Limited is a private company limited by shares and incorporated in England and Wales.
The address of the registered office is Kings Lodge London Road, West Kingsdown, Sevenoaks, Kent, TN15 6AR. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
HURST MEDICAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 4

 
HURST MEDICAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
on reducing balance
Office equipment
-
33%
on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 5

 
HURST MEDICAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


Employees

2024
2023
£
£

Wages and salaries
86,142
84,835

Pensions
80,896
81,099

167,038
165,934


The average monthly number of employees, including directors, during the year was 5 (2023 - 2).


4.


Intangible assets




Goodwill

£



Cost


At 1 April 2023
354,894



At 31 March 2024

354,894



Amortisation


At 1 April 2023
354,894



At 31 March 2024

354,894



Net book value



At 31 March 2024
-



At 31 March 2023
-



Page 6

 
HURST MEDICAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 April 2023
3,839
4,461
8,300



At 31 March 2024

3,839
4,461
8,300



Depreciation


At 1 April 2023
1,340
4,228
5,568


Charge for the year
857
161
1,018



At 31 March 2024

2,197
4,389
6,586



Net book value



At 31 March 2024
1,642
72
1,714



At 31 March 2023
2,499
233
2,732


6.


Debtors

2024
2023
£
£


Trade debtors
5,652
-

Amounts owed by related companies
102,845
91,074

Other debtors
21,116
8,248

129,613
99,322



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
261,092
375,712

261,092
375,712


Page 7

 
HURST MEDICAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
48,964
10,648

Trade creditors
1,363
744

Corporation tax
53,945
65,914

Other taxation and social security
19,529
34,726

Other creditors
2,967
3,329

Accruals and deferred income
6,000
2,000

132,768
117,361



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
61,567
6,356

61,567
6,356


Page 8

 
HURST MEDICAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
48,964
10,648


48,964
10,648

Amounts falling due 1-2 years

Bank loans
39,890
6,356


39,890
6,356

Amounts falling due 2-5 years

Bank loans
21,677
-


21,677
-


110,531
17,004



11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary Shares shares of £1.00 each
100
100



12.


Related party transactions

Included within other debtors is a balance of £102,845 (2023: £91,074) due from a connected company. The balance carries no interest. 
Also included within other debtors, due within one year, is a balance owed from the Directors of £4,600 (2023: £932 owed to). The balance was repaid post year end and carries no interest. 

 
Page 9