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REGISTERED NUMBER: 07405698 (England and Wales)


















Daisy Medical Research Limited

Financial Statements for the Year Ended 30th September 2024






Daisy Medical Research Limited (Registered number: 07405698)






Contents of the Financial Statements
for the year ended 30th September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Daisy Medical Research Limited

Company Information
for the year ended 30th September 2024







DIRECTORS: Prof N D Stafford
T S E Boanas
D C Heuck



REGISTERED OFFICE: The Daisy Building
Castle Hill Hospital
Castle Road
Cottingham
East Yorkshire
HU16 5JQ



REGISTERED NUMBER: 07405698 (England and Wales)



AUDITORS: Smailes Goldie
Chartered Accountants
Statutory Auditor
Regent's Court
Princess Street
Hull
East Yorkshire
HU2 8BA



BANKERS: Handelsbanken
First Floor, Westcott House
Hesslewood Business Park
Hull
East Yorkshire
HU13 0PF

Daisy Medical Research Limited (Registered number: 07405698)

Balance Sheet
30th September 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 4,037,684 3,855,382

CURRENT ASSETS
Stocks 1,320 1,635
Debtors 5 51,062 50,184
Cash at bank 826,063 633,851
878,445 685,670
CREDITORS
Amounts falling due within one year 6 4,336,574 4,141,523
NET CURRENT LIABILITIES (3,458,129 ) (3,455,853 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

579,555

399,529

PROVISIONS FOR LIABILITIES 145,269 100,228
NET ASSETS 434,286 299,301

CAPITAL AND RESERVES
Called up share capital 7 1 1
Retained earnings 434,285 299,300
SHAREHOLDERS' FUNDS 434,286 299,301

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 22nd May 2025 and were signed on its behalf by:





Prof N D Stafford - Director


Daisy Medical Research Limited (Registered number: 07405698)

Notes to the Financial Statements
for the year ended 30th September 2024

1. STATUTORY INFORMATION

Daisy Medical Research 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
The financial statements have been prepared in accordance with applicable accounting standards including Financial Reporting Standard 102: The Financial Reporting Standard in the UK and Republic of Ireland (FRS 102) Section 1A and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Related party exemption
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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - straight line over 10 years

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

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.

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.

Daisy Medical Research Limited (Registered number: 07405698)

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

2. ACCOUNTING POLICIES - continued

Debtors & creditors receivable/payable within one year
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 profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st October 2023 5,550,104
Additions 292,580
At 30th September 2024 5,842,684
DEPRECIATION
At 1st October 2023 1,694,722
Charge for year 110,278
At 30th September 2024 1,805,000
NET BOOK VALUE
At 30th September 2024 4,037,684
At 30th September 2023 3,855,382

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 51,062 50,184

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 4,318,419 4,125,219
Taxation and social security 13,792 13,484
Other creditors 4,363 2,820
4,336,574 4,141,523

7. CALLED UP SHARE CAPITAL

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

Daisy Medical Research Limited (Registered number: 07405698)

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

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Luke Taylor BSc (Hons) FCA (Senior Statutory Auditor)
for and on behalf of Smailes Goldie

9. CAPITAL COMMITMENTS
2024 2023
£    £   
Contracted but not provided for in the
financial statements 3,028,337 3,028,337

10. OFF-BALANCE SHEET ARRANGEMENTS

In 2023 and 2024, Handelsbanken provided an unlimited Inter-Company Standard Guarantee by and between the company and its parent, The Hull & East Yorkshire Medical Research Centre.

11. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of The Hull and East Yorkshire Medical Research Centre, registered in England and Wales.

The largest and smallest group in which the results of the company are consolidated is that headed by The Hull and East Yorkshire Medical Research Centre. The consolidated financial statements of the group are available to the public and may be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ.