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
EDUCATION & CLINICAL RESEARCH & INNOVATION GROUP LIMITED
Statement of financial position
as at 30 September 2024
Called up share capital not paid
100
100
Intangible assets
300,490
307,370
Tangible assets
3,009,360
2,130,325
Cash at bank and in hand
39,563
475,195
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)
EDUCATION & CLINICAL RESEARCH & INNOVATION GROUP LIMITED
Statement of financial position
as at 30 September 2024 (continued)
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
EDUCATION & CLINICAL RESEARCH & INNOVATION GROUP LIMITED
Notes to the Accounts
for the year ended 30 September 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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 (including purchased patents) are included at cost less accumulated amortisation provided at either 5%, 10% or 20% reducing balance dependant on the asset.
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.
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.
EDUCATION & CLINICAL RESEARCH & INNOVATION GROUP LIMITED
Notes to the Accounts
for the year ended 30 September 2024
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.
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.
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 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
At 30 September 2024
327,577
Charge for the year
20,045
At 30 September 2024
27,087
At 30 September 2024
300,490
At 30 September 2023
307,370
EDUCATION & CLINICAL RESEARCH & INNOVATION GROUP LIMITED
Notes to the Accounts
for the year ended 30 September 2024
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Tangible fixed assets
Total
At 1 October 2023
2,133,560
At 30 September 2024
3,765,676
Charge for the year
753,243
At 30 September 2024
756,316
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
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
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).