Caseware UK (AP4) 2024.0.164 2024.0.164 2025-04-302025-04-300The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falsefalsetrue2024-05-01No description of principal activity04false 13366126 2024-05-01 2025-04-30 13366126 2023-05-01 2024-04-30 13366126 2025-04-30 13366126 2024-04-30 13366126 c:Director1 2024-05-01 2025-04-30 13366126 d:ComputerEquipment 2024-05-01 2025-04-30 13366126 d:ComputerEquipment 2025-04-30 13366126 d:ComputerEquipment 2024-04-30 13366126 d:ComputerEquipment d:OwnedOrFreeholdAssets 2024-05-01 2025-04-30 13366126 d:PatentsTrademarksLicencesConcessionsSimilar 2024-05-01 2025-04-30 13366126 d:PatentsTrademarksLicencesConcessionsSimilar 2025-04-30 13366126 d:PatentsTrademarksLicencesConcessionsSimilar 2024-04-30 13366126 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-05-01 2025-04-30 13366126 d:ComputerSoftware 2025-04-30 13366126 d:ComputerSoftware 2024-04-30 13366126 d:CurrentFinancialInstruments 2025-04-30 13366126 d:CurrentFinancialInstruments 2024-04-30 13366126 d:Non-currentFinancialInstruments 2025-04-30 13366126 d:Non-currentFinancialInstruments 2024-04-30 13366126 d:CurrentFinancialInstruments d:WithinOneYear 2025-04-30 13366126 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 13366126 d:Non-currentFinancialInstruments d:AfterOneYear 2025-04-30 13366126 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 13366126 d:ShareCapital 2025-04-30 13366126 d:ShareCapital 2024-04-30 13366126 d:SharePremium 2025-04-30 13366126 d:SharePremium 2024-04-30 13366126 d:OtherMiscellaneousReserve 2025-04-30 13366126 d:OtherMiscellaneousReserve 2024-04-30 13366126 d:RetainedEarningsAccumulatedLosses 2025-04-30 13366126 d:RetainedEarningsAccumulatedLosses 2024-04-30 13366126 c:OrdinaryShareClass1 2024-05-01 2025-04-30 13366126 c:OrdinaryShareClass1 2025-04-30 13366126 c:OrdinaryShareClass1 2024-04-30 13366126 c:OrdinaryShareClass2 2024-05-01 2025-04-30 13366126 c:OrdinaryShareClass2 2025-04-30 13366126 c:OrdinaryShareClass2 2024-04-30 13366126 c:FRS102 2024-05-01 2025-04-30 13366126 c:AuditExempt-NoAccountantsReport 2024-05-01 2025-04-30 13366126 c:FullAccounts 2024-05-01 2025-04-30 13366126 c:PrivateLimitedCompanyLtd 2024-05-01 2025-04-30 13366126 d:PatentsTrademarksLicencesConcessionsSimilar d:ExternallyAcquiredIntangibleAssets 2024-05-01 2025-04-30 13366126 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2024-05-01 2025-04-30 13366126 d:ExternallyAcquiredIntangibleAssets 2024-05-01 2025-04-30 13366126 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2024-05-01 2025-04-30 13366126 d:ComputerSoftware d:OwnedIntangibleAssets 2024-05-01 2025-04-30 13366126 e:PoundSterling 2024-05-01 2025-04-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 13366126










PRECISION CARDIOVASCULAR LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2025

 
PRECISION CARDIOVASCULAR LTD
REGISTERED NUMBER: 13366126

BALANCE SHEET
AS AT 30 APRIL 2025

2025
2024
Note
£
£

Fixed assets
  

Intangible assets
 4 
58,317
59,277

Tangible assets
 5 
670
216

  
58,987
59,493

Current assets
  

Debtors: amounts falling due within one year
 6 
42,181
53,133

Cash at bank and in hand
 7 
1,022,049
1,759

  
1,064,230
54,892

Creditors: amounts falling due within one year
 8 
(40,794)
(35,675)

Net current assets
  
 
 
1,023,436
 
 
19,217

Total assets less current liabilities
  
1,082,423
78,710

Creditors: amounts falling due after more than one year
 9 
(290,989)
(419,471)

  

Net assets/(liabilities)
  
791,434
(340,761)


Capital and reserves
  

Called up share capital 
 10 
5
5

Share premium account
  
455,040
455,040

Other reserves
  
1,710,856
-

Profit and loss account
  
(1,374,467)
(795,806)

  
791,434
(340,761)


Page 1

 
PRECISION CARDIOVASCULAR LTD
REGISTERED NUMBER: 13366126

BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mohamed Sabry Abou-Alam
Director

Date: 17 July 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
PRECISION CARDIOVASCULAR LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025

1.


General information

Precision Cardiovascular Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number is 13366126 and registered office address is The Magdi Yacoub Institute, Heart Science Centre, Hill End Road, Harefield, England, UB9 6JH.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

The Directors have committed to providing sufficient support to the company to enable it to continue for a period of at least twelve months from when the financial statements are signed.

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Intellectual property
-
Not yet in use
Software
-
3
years

Page 3

 
PRECISION CARDIOVASCULAR LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025

2.Accounting policies (continued)

 
2.6

Development costs

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
3 year straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
PRECISION CARDIOVASCULAR LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025

2.Accounting policies (continued)

 
2.11

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2024 - 4).


4.


Intangible assets




Intellectual Property
Software
Total

£
£
£



Cost


At 1 May 2024
50,000
24,500
74,500


Additions
-
7,205
7,205



At 30 April 2025

50,000
31,705
81,705



Amortisation


At 1 May 2024
-
15,223
15,223


Charge for the year
-
8,165
8,165



At 30 April 2025

-
23,388
23,388



Net book value



At 30 April 2025
50,000
8,317
58,317



At 30 April 2024
50,000
9,277
59,277



Page 5

 
PRECISION CARDIOVASCULAR LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025

5.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 May 2024
779


Additions
726



At 30 April 2025

1,505



Depreciation


At 1 May 2024
563


Charge for the year
272



At 30 April 2025

835



Net book value



At 30 April 2025
670



At 30 April 2024
216


6.


Debtors

2025
2024
£
£


Other debtors
25,423
51,667

Prepayments and accrued income
16,758
1,466

42,181
53,133



7.


Cash and cash equivalents

2025
2024
£
£

Cash at bank and in hand
1,022,049
1,759


Page 6

 
PRECISION CARDIOVASCULAR LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025

8.


Creditors: Amounts falling due within one year

2025
2024
£
£

Trade creditors
14,478
31,519

Other taxation and social security
6,830
-

Other creditors
152
6

Accruals and deferred income
19,334
4,150

40,794
35,675



9.


Creditors: Amounts falling due after more than one year

2025
2024
£
£

Other creditors
290,989
419,471


Included in other creditors is an amount of £274,989 (2024: £253,471) owed to a director. The loan is interest free and repayable on demand. 


10.


Share capital

2025
2024
£
£
Allotted, called up and fully paid



39,533 (2024 - 39,533) Ordinary shares of £0.0001 each
4
4
6,977 (2024 - 6,977) A Ordinary shares of £0.0001 each
1
1

5

5



11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £62 (2024 - £1,946). Contributions totalling £146 (2024 - £nil) were payable to the fund at the balance sheet date and are included in creditors.


Page 7