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REGISTERED NUMBER: 08108247 (England and Wales)















LIGHTPOINT MEDICAL LTD

Unaudited Financial Statements for the Year Ended 30 June 2024






LIGHTPOINT MEDICAL LTD (REGISTERED NUMBER: 08108247)






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

Report of the Accountants 9

LIGHTPOINT MEDICAL LTD

Company Information
for the year ended 30 June 2024







DIRECTORS: D S Tuch
S B McCoy





REGISTERED OFFICE: St Mary's Court
The Broadway
Amersham
HP7 0UT





REGISTERED NUMBER: 08108247 (England and Wales)





ACCOUNTANTS: Xeinadin London Limited
8th Floor Becket House
36 Old Jewry
London
EC2R 8DD

LIGHTPOINT MEDICAL LTD (REGISTERED NUMBER: 08108247)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 1,997,236
Tangible assets 5 - 24,260
Investments 6 24,128,862 2,806
24,128,862 2,024,302

CURRENT ASSETS
Stocks - 237,059
Debtors 7 1,796,942 2,639,588
Cash at bank 4,667,264 138,951
6,464,206 3,015,598
CREDITORS
Amounts falling due within one year 8 1,289,839 2,053,825
NET CURRENT ASSETS 5,174,367 961,773
TOTAL ASSETS LESS CURRENT
LIABILITIES

29,303,229

2,986,075

CREDITORS
Amounts falling due after more than one
year

9

-

685,000
NET ASSETS 29,303,229 2,301,075

CAPITAL AND RESERVES
Called up share capital 549 572
Share premium 10 14,946,326
Retained earnings 29,302,670 (12,645,823 )
SHAREHOLDERS' FUNDS 29,303,229 2,301,075

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.

LIGHTPOINT MEDICAL LTD (REGISTERED NUMBER: 08108247)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 March 2025 and were signed on its behalf by:





D S Tuch - Director


LIGHTPOINT MEDICAL LTD (REGISTERED NUMBER: 08108247)

Notes to the Financial Statements
for the year ended 30 June 2024

1. STATUTORY INFORMATION

Lightpoint Medical Ltd 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 as modified by the revaluation of certain assets.

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
Expenditure for research is charged to the profit and loss account immediately. The company has capitalised costs associated with the development and testing of its products if they fulfil the requirements of being technically feasible and will lead to future economic benefits. These development costs will be amortised once the product goes into commercial production over the period of its useful economic life.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 10% on cost

INVESTMENTS IN SUBSIDIARIES
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

FINANCIAL INSTRUMENTS
Debtors
Short terms 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.

Creditors
Short term trade creditors are measured at 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.

TAXATION
Taxation for the year 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.


LIGHTPOINT MEDICAL LTD (REGISTERED NUMBER: 08108247)

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.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 2 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 July 2023 2,024,547
Disposals (2,024,547 )
At 30 June 2024 -
AMORTISATION
At 1 July 2023 27,311
Eliminated on disposal (27,311 )
At 30 June 2024 -
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 1,997,236

LIGHTPOINT MEDICAL LTD (REGISTERED NUMBER: 08108247)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 July 2023 237,908
Disposals (237,908 )
At 30 June 2024 -
DEPRECIATION
At 1 July 2023 213,648
Charge for year 4,900
Eliminated on disposal (218,548 )
At 30 June 2024 -
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 24,260

6. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST OR VALUATION
At 1 July 2023 2,807 - 2,807
Additions 1 16,075,979 16,075,980
Disposals (2,718 ) (4,018,995 ) (4,021,713 )
Revaluations - 12,071,789 12,071,789
At 30 June 2024 90 24,128,773 24,128,863
PROVISIONS
At 1 July 2023
and 30 June 2024 1 - 1
NET BOOK VALUE
At 30 June 2024 89 24,128,773 24,128,862
At 30 June 2023 2,806 - 2,806

Cost or valuation at 30 June 2024 is represented by:

Shares in
group Other
undertakings investments Totals
£    £    £   
Valuation in 2024 - 12,071,789 12,071,789
Cost 90 12,056,984 12,057,074
90 24,128,773 24,128,863

LIGHTPOINT MEDICAL LTD (REGISTERED NUMBER: 08108247)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

6. FIXED ASSET INVESTMENTS - continued

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Lightpoint Medical B.V.
Registered office: Joop Geesinkweg 901-999,Amsterdam-Duivendrecht, 1114 AB, Netherlands
Nature of business: Research and Experimental development.
%
Class of shares: holding
Ordinary 100.00

Lightpoint Medical Inc
Registered office: Regus Harvard Square, One Miffin Place, Suite 400, Cambridge, Massachusetts, 02138, USA
Nature of business: Research and Experimental development
%
Class of shares: holding
Ordinary 100.00

ASSOCIATED COMPANY

Active Needle Technology Limited
Registered office: D5 Culham Science Centre, Abingdon Road, Abingdon, England, OX14 3DB
Nature of business: Research and Experimental development.
%
Class of shares: holding
Ordinary 17.40

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 285,766 537,728
Other debtors 1,498,925 1,846,033
Tax - 216,947
VAT 6,707 28,620
Prepayments 5,544 10,260
1,796,942 2,639,588

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other loans 55,000 927,047
Trade creditors 766,408 1,047,039
Tax 409,381 -
Social security and other taxes - 10,780
Other creditors - 14,809
Accrued expenses 59,050 54,150
1,289,839 2,053,825

LIGHTPOINT MEDICAL LTD (REGISTERED NUMBER: 08108247)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other loans - 1-2 years - 205,000
Other loans - 2-5 years - 480,000
- 685,000

LIGHTPOINT MEDICAL LTD

Report of the Accountants to the Directors of
Lightpoint Medical Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements and state those matters that we have agreed to state to the Board of Directors, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that the Company has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit. You consider that the Company is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of the Company. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Xeinadin London Limited
8th Floor Becket House
36 Old Jewry
London
EC2R 8DD


18 March 2025