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Company Registration No. 13639699 (England and Wales)
EDUCATION & CLINICAL RESEARCH & INNOVATION GROUP LIMITED Unaudited accounts for filing with the registrar for the year ended 30 September 2024
EDUCATION & CLINICAL RESEARCH & INNOVATION GROUP LIMITED Unaudited accounts for filing with the registrar Contents
Page
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EDUCATION & CLINICAL RESEARCH & INNOVATION GROUP LIMITED Statement of financial position as at 30 September 2024
2024 
2023 
Notes
£ 
£ 
Called up share capital not paid
100 
100 
Fixed assets
Intangible assets
300,490 
307,370 
Tangible assets
3,009,360 
2,130,325 
3,309,850 
2,437,695 
Current assets
Inventories
144,886 
- 
Debtors
1,373,383 
710,561 
Cash at bank and in hand
39,563 
475,195 
1,557,832 
1,185,756 
Creditors: amounts falling due within one year
(4,047,309)
(760,219)
Net current (liabilities)/assets
(2,489,477)
425,537 
Total assets less current liabilities
820,473 
2,863,332 
Creditors: amounts falling due after more than one year
(4,883,876)
(4,077,833)
Provisions for liabilities
Deferred tax
(370,187)
(322,384)
Net liabilities
(4,433,590)
(1,536,885)
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EDUCATION & CLINICAL RESEARCH & INNOVATION GROUP LIMITED Statement of financial position as at 30 September 2024 (continued)
Capital and reserves
Called up share capital
1,260,173 
1,103,364 
Share premium
1,422,141 
998,950 
Profit and loss account
(7,115,904)
(3,639,199)
Shareholders' funds
(4,433,590)
(1,536,885)
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 25 June 2025 and were signed on its behalf by
Sheldon Middleton Director Company Registration No. 13639699
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EDUCATION & CLINICAL RESEARCH & INNOVATION GROUP LIMITED Notes to the Accounts for the year ended 30 September 2024
1
Statutory information
EDUCATION & CLINICAL RESEARCH & INNOVATION GROUP LIMITED is a private company, limited by shares, registered in England and Wales, registration number 13639699. The registered office is 5 Deansway, Worcester, WR1 2JG, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
20% Reducing Balance
Fixtures & fittings
20% Reducing Balance
Computer equipment
20% Straight Line
Intangible fixed assets
Intangible fixed assets (including purchased patents) are included at cost less accumulated amortisation provided at either 5%, 10% or 20% reducing balance dependant on the asset.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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EDUCATION & CLINICAL RESEARCH & INNOVATION GROUP LIMITED Notes to the Accounts for the year ended 30 September 2024
Foreign exchange
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Going concern
These financial statements have been prepared on the going concern basis. Under section 3.8 of FRS 102, this assumes that the company will continue in operational existence for the foreseeable future and has neither the intention nor the need to liquidate or cease trading at the reporting date. However, the company has experienced cash flow constraints and other financial pressures, which indicate the existence of a material uncertainty that may cast doubt on the company's ability to continue as a going concern. The directors have prepared detailed forecasts and projections for a period of at least 12 months from the date of approval of the financial statements. These projections indicate that the company will require continued financial support in order to meet its obligations as they fall due. The directors are actively managing the company’s costs and are seeking additional finance, extended credit terms, and shareholder support. They are confident that such support will continue to be made available, and therefore believe it is appropriate to prepare the financial statements on a going concern basis. The financial statements do not include the adjustments that would result if the company were unable to continue as a going concern.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
4
Intangible fixed assets
Total 
£ 
Cost
At 1 October 2023
314,412 
Additions
13,165 
At 30 September 2024
327,577 
Amortisation
At 1 October 2023
7,042 
Charge for the year
20,045 
At 30 September 2024
27,087 
Net book value
At 30 September 2024
300,490 
At 30 September 2023
307,370 
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EDUCATION & CLINICAL RESEARCH & INNOVATION GROUP LIMITED Notes to the Accounts for the year ended 30 September 2024
5
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 October 2023
2,133,560 
Additions
1,638,028 
Disposals
(5,912)
At 30 September 2024
3,765,676 
Depreciation
At 1 October 2023
3,235 
Charge for the year
753,243 
On disposals
(162)
At 30 September 2024
756,316 
Net book value
At 30 September 2024
3,009,360 
At 30 September 2023
2,130,325 
6
Deferred taxation
2024 
2023 
£ 
£ 
Accelerated capital allowances
370,187 
322,384 
2024 
2023 
£ 
£ 
Provision at start of year
322,384 
- 
Charged to the profit and loss account
47,803 
322,384 
Provision at end of year
370,187 
322,384 
7
Operating lease commitments
2024 
2023 
£ 
£ 
At 30 September 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
516,692 
304,554 
Later than one year and not later than five years
1,350,212 
1,303,678 
1,866,904 
1,608,232 
8
Transactions with related parties
As at 30 September 2024 amounts owed to related parties totalled £946,622 (2023: £510,387).
9
Average number of employees
During the year the average number of employees was 34 (2023: 3).
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