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REGISTERED NUMBER: 05247579 (England and Wales)













Unaudited Financial Statements

for the Year Ended 30 September 2024

for

Cardioassist Limited

Cardioassist Limited (Registered number: 05247579)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Cardioassist Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: M A Ishak-Hanna
M C Radford
M H Yacoub
F W White





REGISTERED OFFICE: 17 North Drive
Littleton
Winchester
SO22 6QA





REGISTERED NUMBER: 05247579 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
Kepier House
Belmont Business Park
Durham
DH1 1TW

Cardioassist Limited (Registered number: 05247579)

Balance Sheet
30 September 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - 10,740

CURRENT ASSETS
Debtors 5 4 4

CREDITORS
Amounts falling due within one year 6 (1,890 ) (52,830 )
NET CURRENT LIABILITIES (1,886 ) (52,826 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,886

)

(42,086

)

CAPITAL AND RESERVES
Called up share capital 7 4 4
Retained earnings (1,890 ) (42,090 )
SHAREHOLDERS' FUNDS (1,886 ) (42,086 )

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

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

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 April 2025 and were signed on its behalf by:





F W White - Director


Cardioassist Limited (Registered number: 05247579)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Cardioassist 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.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Going concern
The financial statements have been prepared on the break up basis. The company ceased trading on 30 September 2024. The financial statements have been prepared on a basis other than that of a going concern which includes where appropriate, writing down the company's assets to net realisable value. Provision has also been made for any contractual commitments that have become onerous. The financial statements do not include any provision for the future costs of terminating the business of the company except for to the extent that such costs were committed at the balance sheet date.

Related party transactions
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

There were no related party transactions other than those concluded under normal market conditions.

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.

An impairment loss has been recognised in the Profit and Loss accounts, following an assessment at the Balance Sheet date indicating the recoverable amount was less than its carrying value.

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in the profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


Cardioassist Limited (Registered number: 05247579)

Notes to the Financial Statements - continued
for the Year Ended 30 September 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.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 October 2023 38,366
Disposals (27,626 )
Impairments (10,740 )
At 30 September 2024 -
AMORTISATION
At 1 October 2023 27,626
Eliminated on disposal (27,626 )
At 30 September 2024 -
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 10,740

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 4 4

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings - 50,940
Accruals and deferred income 1,890 1,890
1,890 52,830

Cardioassist Limited (Registered number: 05247579)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
4 Ordinary £1 4 4

8. ULTIMATE PARENT COMPANY

The parent company is Heart Biotech Limited, a company incorporated in England. The registered office address is 17 North Drive, Littleton, Winchester, SO22 6QA.

The ultimate parent company is Heart Biotech Holdings Limited, a company incorporated in England. The registered office address is 17 North Drive, Littleton, Winchester, SO22 6QA.