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REGISTERED NUMBER: 08456288 (England and Wales)













Unaudited Financial Statements

for the Year Ended 30 September 2024

for

Heart Biotech Limited

Heart Biotech Limited (Registered number: 08456288)






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


Heart Biotech Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: M A Ishak-Hanna
S S Khouri
M C Radford
I A Richardson
M H Yacoub
F W White





REGISTERED OFFICE: 17 North Drive
Littleton
Winchester
SO22 6QA





REGISTERED NUMBER: 08456288 (England and Wales)





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

Heart Biotech Limited (Registered number: 08456288)

Balance Sheet
30 September 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investments 4 4 4

CURRENT ASSETS
Debtors 5 - 1,486,843
Cash at bank 401,258 51,143
401,258 1,537,986
CREDITORS
Amounts falling due within one year 6 (7,290 ) (1,732,589 )
NET CURRENT ASSETS/(LIABILITIES) 393,968 (194,603 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

393,972

(194,599

)

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 393,872 (194,699 )
SHAREHOLDERS' FUNDS 393,972 (194,599 )

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


Heart Biotech Limited (Registered number: 08456288)

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

1. STATUTORY INFORMATION

Heart Biotech 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

Preparation of consolidated financial statements
The financial statements contain information about Heart Biotech Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Investments in subsidiaries
Investments in associate undertakings are recognised at cost less impairment.

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in 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.

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.

Heart Biotech Limited (Registered number: 08456288)

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

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Fixed asset investments
Investment in subsidiary undertakings are recognised at cost, less provision for permanent diminution in value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - NIL ) .

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 October 2023
and 30 September 2024 4
NET BOOK VALUE
At 30 September 2024 4
At 30 September 2023 4

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings - 1,486,843

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 725
Amounts owed to group undertakings - 1,520,672
Directors' current accounts 5,400 209,302
Accruals and deferred income 1,890 1,890
7,290 1,732,589

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10,000 Ordinary £0.01 100 100

8. RELATED PARTY DISCLOSURES

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.

Heart Biotech Limited (Registered number: 08456288)

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

8. RELATED PARTY DISCLOSURES - continued

There were no related party transactions other than those concluded under normal market conditions, except for those shown below.

2024 2023
£ £
Amounts due to group undertakings - 1,520,672
Amounts due to directors 5,400 209,302

No interest has been charged.

9. ULTIMATE CONTROLLING PARTY

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