Company Registration No. 05535681 (England and Wales)
LONDON WOMEN'S CLINIC
(WALES) LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
LONDON WOMEN'S CLINIC (WALES) LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 10
LONDON WOMEN'S CLINIC (WALES) LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2024
31 October 2024
- 1 -
2024
2023
as restated
Notes
£
£
£
£
Fixed assets
Intangible assets
5
19,817
48,333
Tangible assets
6
1,661,738
844,198
1,681,555
892,531
Current assets
Stocks
85,917
70,935
Debtors
7
569,003
502,593
Cash at bank and in hand
182,462
154,782
837,382
728,310
Creditors: amounts falling due within one year
8
(744,104)
(860,637)
Net current assets/(liabilities)
93,278
(132,327)
Total assets less current liabilities
1,774,833
760,204
Creditors: amounts falling due after more than one year
9
(2,599,241)
(1,751,706)
Provisions for liabilities
(40,748)
-
0
Net liabilities
(865,156)
(991,502)
Capital and reserves
Called up share capital
100
100
Revaluation reserve
-
0
43,792
Profit and loss reserves
(865,256)
(1,035,394)
Total equity
(865,156)
(991,502)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered 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 4 July 2025 and are signed on its behalf by:
D Williams
Director
Company Registration No. 05535681
LONDON WOMEN'S CLINIC (WALES) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2024
- 2 -
Share capital
Other  reserves
Profit and loss reserves
Total
£
£
£
£
As restated for the period ended 31 October 2023:
Balance at 1 November 2022
100
115,964
(1,212,467)
(1,096,403)
Year ended 31 October 2023:
Profit and total comprehensive income for the year
-
-
177,073
177,073
Capital contribution
-
(72,172)
-
(72,172)
Balance at 31 October 2023
100
43,792
(1,035,394)
(991,502)
Year ended 31 October 2024:
Profit and total comprehensive income for the year
-
-
170,138
170,138
Capital contribution
-
(43,792)
-
(43,792)
Balance at 31 October 2024
100
-
0
(865,256)
(865,156)
LONDON WOMEN'S CLINIC (WALES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
- 3 -
1
Accounting policies
Company information

London Women's Clinic (Wales) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 113-115 Harley Street, London, W1G 6AP.

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 disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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 £, unless otherwise stated.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The financial statements have been prepared on a going concern basis on the assumption that profitability from the year is maintained and the ultimate parent undertaking, J D Healthcare Limited, will continue to provide any necessary financial assistancetrue to enable the company to meet its debts as they fall due.

1.3
Turnover

Turnover represents revenue from the sale of medical facilities and services, along with the revenue from contracts for the storage of gametes.

Revenue from the sale of medical facilities and services is recognised when the significant risks and rewards of the services has passed to the buyer, 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 storage of gametes is recognised by reference to the period of storage.

1.4
Intangible fixed assets other than goodwill

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:

Wesbite and software
3 years straight line
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 building improvements
Over the remaining life of the lease
Plant and machinery
10 years straight line
Fixtures, fittings & equipment
10 years straight line
Computer equipment
3 years straight line
LONDON WOMEN'S CLINIC (WALES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 4 -

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
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Stocks

Stocks are stated at the lower of cost and net realisable value and are consumable items utilised during procedures.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks 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.

1.8
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.

1.9
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.

LONDON WOMEN'S CLINIC (WALES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 5 -
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.

1.10
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.

1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

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.

1.12
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

LONDON WOMEN'S CLINIC (WALES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 6 -
2
Change in accounting policy

In the prior year, the company recognised the income for the storage of gametes at the point of invoicing. With effect from 1 November 2022, storage fee income is recognised on a straight-line basis over the storage period, reflecting the pattern in which the service is provided.

 

This policy better reflects the economic substance of the storage service and provides more reliable and relevant information to users of the accounts.

3
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Deferred income

Where an invoice has been raised but the service has yet to be provided, the directors defer an estimated amount of the income to represent the period in which the services will be provided.

With regard to storage fees provided by the Company, income has been deferred depending on which month the invoice was raised in, with the invoices raised covering a period of one year.

Useful lives of assets

The directors have considered the useful economic life of the fixed assets and on that basis have estimated the amortisation and depreciation rate that should be used by the Company. Where new information becomes available in this regard the Directors consider the materiality of any potential adjustments and where necessary revise their useful economic life assessment.

Debtor recoverability

At the balance sheet date, the directors consider the recoverability of the amounts owed to the company utilising post balance sheet information where available. Where balances are not considered recoverable appropriate provisions are made.

With regard to trade debtors, determining the recoverability of debtors requires an estimation of the average time period that self-funded debtors will pay. The directors consider 180 days to be a reasonable estimate.

4
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0
LONDON WOMEN'S CLINIC (WALES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 7 -
5
Intangible fixed assets
Goodwill
Other
Total
£
£
£
Cost
At 1 November 2023 and 31 October 2024
1
85,548
85,549
Amortisation and impairment
At 1 November 2023
1
37,215
37,216
Amortisation charged for the year
-
0
28,516
28,516
At 31 October 2024
1
65,731
65,732
Carrying amount
At 31 October 2024
-
0
19,817
19,817
At 31 October 2023
-
0
48,333
48,333
6
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 November 2023
1,393,528
893,905
2,287,433
Additions
1,062,480
126,835
1,189,315
Disposals
-
0
(51,918)
(51,918)
Transfers
-
0
(1,575)
(1,575)
At 31 October 2024
2,456,008
967,247
3,423,255
Depreciation and impairment
At 1 November 2023
771,214
672,021
1,443,235
Depreciation charged in the year
297,098
74,289
371,387
Eliminated in respect of disposals
-
0
(51,918)
(51,918)
Transfers
-
0
(1,187)
(1,187)
At 31 October 2024
1,068,312
693,205
1,761,517
Carrying amount
At 31 October 2024
1,387,696
274,042
1,661,738
At 31 October 2023
622,314
221,884
844,198
LONDON WOMEN'S CLINIC (WALES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 8 -
7
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
390,415
392,533
Other debtors
178,588
110,060
569,003
502,593
8
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
284,139
325,415
Amounts owed to group undertakings
-
0
87,238
Other creditors
459,965
447,984
744,104
860,637
9
Creditors: amounts falling due after more than one year
2024
2023
£
£
Amounts owed to parent company
2,599,241
1,751,706
10
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Carol Cheesman
Statutory Auditor:
Cheesmans
Date of audit report:
4 July 2025
11
Financial commitments, guarantees and contingent liabilities

There is a fixed and floating charge between the companies of the J D Healthcare Group under the terms of which amounts due to HSBC Bank Plc are secured on the assets of all group companies. There have been no instances in the year or to date whereby the obligations under this debenture have been breached and therefore this debenture is not currently enforceable.

 

The Company participates in a cross guarantee with other companies in the group and associated companies. There is a composite company unlimited multilateral guarantee between J D Healthcare Limited, The Bridge Centre Limited and HSBC Bank Plc, whereby amounts due to and from HSBC Bank Plc can be offset.

 

LONDON WOMEN'S CLINIC (WALES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 9 -
12
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
338,640
329,842
13
Related party transactions

Transactions with related parties

The company has taken advantage of the exemptions available whereby it has not disclosed transactions with the parent company, the ultimate parent company, or any wholly owned subsidiary undertakings of the group.

14
Ultimate parent company

The parent company of London Women's Clinic (Wales) Limited is Harley Street Women's Clinic Limited. The registered office of Harley Street Women's Clinic Limited is 113-115 Harley Street, London, W1G 6AP.

 

The ultimate parent company of London Women’s Clinic (Wales) Limited is J D Healthcare Limited. The registered office of J D Healthcare Limited is 113-115 Harley Street, London, W1G 6AP.

15
Prior period adjustment
Reconciliation of changes in equity
1 November
31 October
2022
2023
£
£
Adjustments to prior year
Deferred Income
-
(204,155)
Equity as previously reported
(1,096,403)
(787,347)
Equity as adjusted
(1,096,403)
(991,502)
Analysis of the effect upon equity
Profit and loss reserves
-
(204,155)
Reconciliation of changes in profit for the previous financial period
2023
£
Adjustments to prior year
Deferred Income
(204,155)
Profit as previously reported
381,228
Profit as adjusted
177,073
LONDON WOMEN'S CLINIC (WALES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
15
Prior period adjustment
(Continued)
- 10 -
Notes to reconciliation
Deferred Income

In the prior year, the company recognised the income for the storage of gametes at the point of invoicing. With effect from 1 November 2022, storage fee income is recognised on a straight-line basis over the storage period, reflecting the pattern in which the service is provided.

 

This policy better reflects the economic substance of the storage service and provides more reliable and relevant information to users of the accounts.

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