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REGISTERED NUMBER: 15025620 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

25 JULY 2023 TO 31 DECEMBER 2024

FOR

FORTIS MEDICAL FINANCE LTD

FORTIS MEDICAL FINANCE LTD (REGISTERED NUMBER: 15025620)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 25 JULY 2023 TO 31 DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FORTIS MEDICAL FINANCE LTD

COMPANY INFORMATION
FOR THE PERIOD 25 JULY 2023 TO 31 DECEMBER 2024







DIRECTOR: Dr B E Holdsworth





REGISTERED OFFICE: 4th Floor Silverstream House
45 Fitzroy Street
Fitzrovia
London
W1T 6EB





REGISTERED NUMBER: 15025620 (England and Wales)





ACCOUNTANTS: Cube Partners Limited
Chartered Accountants
5 Giffard Court
Millbrook Close
Northampton
Northamptonshire
NN5 5JF

FORTIS MEDICAL FINANCE LTD (REGISTERED NUMBER: 15025620)

BALANCE SHEET
31 DECEMBER 2024

Notes £    £   
FIXED ASSETS
Intangible assets 4 3,929
Tangible assets 5 16,862
20,791

CURRENT ASSETS
Debtors 6 106,360
Cash at bank 127,913
234,273
CREDITORS
Amounts falling due within one year 7 51,087
NET CURRENT ASSETS 183,186
TOTAL ASSETS LESS CURRENT
LIABILITIES

203,977

PROVISIONS FOR LIABILITIES 3,599
NET ASSETS 200,378

CAPITAL AND RESERVES
Called up share capital 200,100
Retained earnings 278
200,378

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 8 April 2025 and were signed by:





Dr B E Holdsworth - Director


FORTIS MEDICAL FINANCE LTD (REGISTERED NUMBER: 15025620)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 25 JULY 2023 TO 31 DECEMBER 2024

1. STATUTORY INFORMATION

Fortis Medical Finance 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgments, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Turnover
Turnover is measured at the fair value of consideration received or receivable for services provided in the normal course of business, and is shown net of value added tax and other sales related taxes.

Revenue from sale of services is recognised when the stage of completion of the transaction can be measured reliably. To the extent that the service provided has not been billed at the balance sheet date, the amount is recognised as revenue and recorded as accrued income. Sales billed in advance of the services being provided are recognised as deferred income.

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 four years.

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 - 25% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

Tangible fixed assets are stated at historical cost less accumulated depreciation. Cost includes the original purchase price of the asset and the costs attributable to bringing the asset to its working condition for its intended use.

Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

FORTIS MEDICAL FINANCE LTD (REGISTERED NUMBER: 15025620)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 25 JULY 2023 TO 31 DECEMBER 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Cash and cash equivalents in the balance sheet comprise cast at banks and in hand and short term deposits with an original maturity date of three months or less.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income and under administrative expenses.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation
Taxation for the period 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.

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.

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 period was 6 .

FORTIS MEDICAL FINANCE LTD (REGISTERED NUMBER: 15025620)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 25 JULY 2023 TO 31 DECEMBER 2024

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
Additions 5,030
At 31 December 2024 5,030
AMORTISATION
Amortisation for period 1,101
At 31 December 2024 1,101
NET BOOK VALUE
At 31 December 2024 3,929

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
Additions 2,130 6,031 12,079 20,240
At 31 December 2024 2,130 6,031 12,079 20,240
DEPRECIATION
Charge for period 177 482 2,719 3,378
At 31 December 2024 177 482 2,719 3,378
NET BOOK VALUE
At 31 December 2024 1,953 5,549 9,360 16,862

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 2,500
Other debtors 103,860
106,360

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 6,101
Taxation and social security 39,645
Other creditors 5,341
51,087

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date a director owed the company £100,634. Interest has been charged on this loan. There are no fixed repayment terms.