Express Diagnostics Limited
Annual Report and Financial Statements
For the year ended 31 December 2024
Company Registration No. 02958269 (England and Wales)
Express Diagnostics Limited
Company Information
Directors
J Benton
D Oatley
Company number
02958269
Registered office
Plymouth Science Park
Derriford
Plymouth
Devon
PL6 8BU
Auditor
Moore Kingston Smith LLP
Orbital House
20 Eastern Road
Romford
Essex
RM1 3PJ
Express Diagnostics Limited
Contents
Page
Directors' report
1
Directors' responsibilities statement
2
Independent auditor's report
3 - 7
Profit and loss account
8
Balance sheet
9
Notes to the financial statements
10 - 18
Express Diagnostics Limited
Directors' Report
For the year ended 31 December 2024
Page 1
The directors present their annual report and financial statements for the year ended 31 December 2024.
Principal activities
The principal activity of the company continued to be that of providing medical diagnostic services to the public.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
J Benton
I N Jarvis
(Resigned 11 July 2024)
D Oatley
Auditor
In accordance with the company's articles, a resolution proposing that Moore Kingston Smith LLP be reappointed as auditor of the company will be put at a General Meeting.
Statement of disclosure to auditor
So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
J Benton
Director
10 June 2025
Express Diagnostics Limited
Directors' Responsibilities Statement
For the year ended 31 December 2024
Page 2
The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
select suitable accounting policies and then apply them consistently;
make judgements and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Express Diagnostics Limited
Independent Auditor's Report
To the Members of Express Diagnostics Limited
Page 3
Opinion
We have audited the financial statements of Express Diagnostics Limited (the 'company') for the year ended 31 December 2024 which comprise the Profit and Loss Account, the Balance Sheet and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Express Diagnostics Limited
Independent Auditor's Report (Continued)
To the Members of Express Diagnostics Limited
Page 4
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit:
the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Directors' Report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption in preparing the directors' report and from the requirement to prepare a strategic report.
Responsibilities of directors
As explained more fully in the Directors' Responsibilities Statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Express Diagnostics Limited
Independent Auditor's Report (Continued)
To the Members of Express Diagnostics Limited
Page 5
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
As part of an audit in accordance with ISAs (UK) we exercise professional judgement and maintain professional scepticism throughout the audit. We also:
Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purposes of expressing an opinion on the effectiveness of the company’s internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.
Conclude on the appropriateness of the directors’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
Express Diagnostics Limited
Independent Auditor's Report (Continued)
To the Members of Express Diagnostics Limited
Page 6
Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.
The objectives of our audit in respect of fraud, are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the company.
Our approach was as follows:
We obtained an understanding of the legal and regulatory requirements applicable to the company and considered that the most significant are the Companies Act 2006, UK financial reporting standards as issued by the Financial Reporting Council, and UK taxation legislation.
We obtained an understanding of how the company complies with these requirements by discussions with management and those charged with governance.
We assessed the risk of material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it might occur, by holding discussions with management and those charged with governance.
We inquired of management and those charged with governance as to any known instances of non-compliance or suspected non-compliance with laws and regulations.
Based on this understanding, we designed specific appropriate audit procedures to identify instances of non-compliance with laws and regulations. This included making enquiries of management and those charged with governance and obtaining additional corroborative evidence as required.
There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
Other matters which we are required to address
The corresponding figures in the financial statements of Express Diagnostics Limited were not audited as the Company did not require a statutory audit under the Companies Act 2006 in the prior year.
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Express Diagnostics Limited
Independent Auditor's Report (Continued)
To the Members of Express Diagnostics Limited
Page 7
Karen Wardell
Senior Statutory Auditor
for and on behalf of Moore Kingston Smith LLP
10 June 2025
Chartered Accountants
Statutory Auditor
Orbital House
20 Eastern Road
Romford
Essex
RM1 3PJ
Express Diagnostics Limited
Profit and Loss Account
For the year ended 31 December 2024
Page 8
2024
2023
Notes
£
£
Turnover
5,054,772
4,360,251
Cost of sales
(1,194,939)
(1,000,269)
Gross profit
3,859,833
3,359,982
Administrative expenses
(3,346,314)
(2,500,607)
Exceptional item
2
(509,471)
Operating profit
513,519
349,904
Interest receivable and similar income
9,809
2,858
Interest payable and similar expenses
(80)
199
Profit before taxation
523,248
352,961
Tax on profit
4
(167,420)
(61,836)
Profit for the financial year
355,828
291,125
Express Diagnostics Limited
Balance Sheet
As at 31 December 2024
Page 9
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
5
25,969
38,833
Tangible assets
6
3,047,943
2,689,311
3,073,912
2,728,144
Current assets
Stock
96,068
60,183
Debtors
7
1,022,585
630,147
Cash at bank and in hand
223,880
264,305
1,342,533
954,635
Creditors: amounts falling due within one year
8
(776,880)
(480,285)
Net current assets
565,653
474,350
Total assets less current liabilities
3,639,565
3,202,494
Provisions for liabilities
(135,173)
(53,930)
Net assets
3,504,392
3,148,564
Capital and reserves
Called up share capital
10
7,236
7,236
Share premium account
14,764
14,764
Revaluation reserve
923,156
923,156
Profit and loss reserves
2,559,236
2,203,408
Total equity
3,504,392
3,148,564
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 10 June 2025 and are signed on its behalf by:
J Benton
Director
Company Registration No. 02958269
Express Diagnostics Limited
Notes to the Financial Statements
For the year ended 31 December 2024
Page 10
1
Accounting policies
Company information
Express Diagnostics Limited is a private company limited by shares incorporated in England and Wales. The registered office is Plymouth Science Park, Derriford, Plymouth, Devon, PL6 8BU.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
Rental turnover represents the rent receivable for the usage of the leasehold property net of VAT.
Express Diagnostics Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
1
Accounting policies
(Continued)
Page 11
1.4
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Software
25% straight line
In the year, transfers were made to reclassify assets from tangible fixed assets, to ensure that disclosure was correct in the financial statements.
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold land and buildings
No depreciation
Plant and equipment
20% straight line
Fixtures and fittings
20% straight line
Computers
25% straight line
Motor vehicles
20% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.6
Stock
Stock are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stock to their present location and condition.
Stock held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stock over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.7
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Express Diagnostics Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
1
Accounting policies
(Continued)
Page 12
1.8
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
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 company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.9
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.10
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Express Diagnostics Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
1
Accounting policies
(Continued)
Page 13
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.11
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.12
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Exceptional item
2024
2023
£
£
Expenditure
Exceptional costs
-
509,471
Comparative amounts relate to additonal legal fees for a court case that was concluded in the prior year in relation to the use of intellectual property.
Express Diagnostics Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
Page 14
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
78
74
4
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
46,776
61,931
Adjustments in respect of prior periods
39,401
Total current tax
86,177
61,931
Deferred tax
Origination and reversal of timing differences
83,017
(95)
Adjustment in respect of prior periods
(1,774)
Total deferred tax
81,243
(95)
Total tax charge
167,420
61,836
Express Diagnostics Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
Page 15
5
Intangible fixed assets
Other
£
Cost
At 1 January 2024
125,077
Additions
13,573
At 31 December 2024
138,650
Amortisation and impairment
At 1 January 2024
86,244
Amortisation charged for the year
26,437
At 31 December 2024
112,681
Carrying amount
At 31 December 2024
25,969
At 31 December 2023
38,833
6
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost or valuation
At 1 January 2024
2,495,000
728,449
3,223,449
Additions
471,257
471,257
Disposals
(17,256)
(17,256)
Other movements
35,045
35,045
At 31 December 2024
2,495,000
1,217,495
3,712,495
Depreciation and impairment
At 1 January 2024
534,138
534,138
Depreciation charged in the year
110,575
110,575
Eliminated in respect of disposals
(15,206)
(15,206)
Other movements
35,045
35,045
At 31 December 2024
664,552
664,552
Carrying amount
At 31 December 2024
2,495,000
552,943
3,047,943
At 31 December 2023
2,495,000
194,311
2,689,311
Express Diagnostics Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
6
Tangible fixed assets
(Continued)
Page 16
The long leasehold property was valued by Alder King on 20th August 2004. It was revalued 12th May 2023 at £2,495,000 by Stratton Creber Commercial.
The land and buildings are carried at valuation. If the assets were measured using the cost model, the carrying amounts would be as follows:
2024
2023
£
£
Historical cost
1,497,933
1,497,933
7
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
928,998
565,838
Prepayments and accrued income
93,587
64,309
1,022,585
630,147
8
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
198,833
251,255
Amounts owed to group undertakings
328,422
49,318
Corporation tax
46,779
61,743
Other taxation and social security
92,894
29,895
Other creditors
19,550
32,359
Accruals and deferred income
90,402
55,715
776,880
480,285
Express Diagnostics Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
Page 17
9
Deferred taxation
The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:
Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
135,173
53,930
2024
Movements in the year:
£
Liability at 1 January 2024
53,930
Charge to profit or loss
81,243
Liability at 31 December 2024
135,173
The deferred tax liability set out above is expected to reverse within 12 months and relates to accelerated capital allowances that are expected to mature within the same period.
10
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
7,236
7,236
7,236
7,236
11
Financial commitments, guarantees and contingent liabilities
Santander UK PLC holds a fixed and floating charge over the assets of the company.
Inuvi Group Limited holds a fixed and floating charge over the assets of the company as the company acts as a guarantor for the loan notes takes in its parent company, Plymouth Health Limited.
12
Events after the reporting date
On 14th March 2025, Express Diagnostics purchased Citrine Diagnostics Limited, which owns Physiological Measurements Limited.
13
Related party transactions
Express Diagnostics Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
13
Related party transactions
(Continued)
Page 18
The company is a wholly owned subsidiary of Plymouth Health Limited and has taken advantage of the exemption conferred by FRS 102 not to disclose transactions with Plymouth Health Limited.
At the year end the company was owed from Cardionetics Limited, a company with common directors a balance of £nil(2023: £1,030).
Included in other creditors are amounts owed to the following companies, who are related by virtue of common directors.
At the year end the company owed Inuvi Health Limited a balance of £272,296 (2023: £13,741). During the year management fees of £214,781 (2023: £nil) were charged by Inuvi Health to Express Diagnostics.
At the year end the company owed Inuvi Diagnostics Limited, a balance of £8,392(2023: £31,875).
At the year end the company owed Longacre Group International Ltd, a balance of £75,311 (2023: £31,875).
14
Parent company
The company is a wholly owned subsidiary of Plymouth Health Limited a company incorporated in England and Wales.
Inuvi Group is the smallest group to prepare consolidated financial statements. Longacre Group Limited is the largest group to prepare consolidated financial statements. Copies can be obtained from 1 Mercer Street, London, WC2H 9QJ.
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