| REGISTERED NUMBER: |
| POLYCHRONIS CANCER SERVICES LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| REGISTERED NUMBER: |
| POLYCHRONIS CANCER SERVICES LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| POLYCHRONIS CANCER SERVICES LIMITED (REGISTERED NUMBER: 07418642) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| POLYCHRONIS CANCER SERVICES LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Third Floor |
| 21 St Mary's Street |
| Shrewsbury |
| Shropshire |
| SY1 1ED |
| POLYCHRONIS CANCER SERVICES LIMITED (REGISTERED NUMBER: 07418642) |
| STATEMENT OF FINANCIAL POSITION |
| 31 OCTOBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Investments | 6 |
| Investment property | 7 |
| CURRENT ASSETS |
| Debtors | 8 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 9 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Capital redemption reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| POLYCHRONIS CANCER SERVICES LIMITED (REGISTERED NUMBER: 07418642) |
| STATEMENT OF FINANCIAL POSITION - continued |
| 31 OCTOBER 2024 |
| The financial statements were approved by the director and authorised for issue on |
| POLYCHRONIS CANCER SERVICES LIMITED (REGISTERED NUMBER: 07418642) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| 1. | STATUTORY INFORMATION |
| Polychronis Cancer Services Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 07418642 and registered office address is: |
| 143 Hadley Road |
| Barnet |
| England |
| EN5 5QN |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life. |
| Fixtures and fittings - 25% on cost |
| Motor vehicles - 33% on reducing balance |
| Equipment - 25% on cost |
| The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of significant change since the last reporting date. |
| Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and will be recognised in the Statement of comprehensive income. |
| Investment property |
| Investment property, which is property held to earn rentals and/or capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. |
| Subsequently it is measured at fair value at the reporting end date. This is determined annually by reviewing current market rents and investment property yields for comparable real estate, adjusted if necessary for any differences in the nature, location or condition of the specific asset. No depreciation is provided. The surplus or deficit on the revaluation is recognised in the profit and loss account. |
| Valuation of investments |
| Investments in a managed portfolio are measured at cost less accumulated impairment.The surplus or deficit on the revaluation is recognised in the profit and loss account. Fair value is estimated by using quoted prices provided by the fund manager. |
| POLYCHRONIS CANCER SERVICES LIMITED (REGISTERED NUMBER: 07418642) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. |
| For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| 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. |
| 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. |
| 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. |
| Interest income |
| Interest income is recognised in the Profit and loss account using the effective interest method. |
| POLYCHRONIS CANCER SERVICES LIMITED (REGISTERED NUMBER: 07418642) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 November 2023 |
| and 31 October 2024 |
| AMORTISATION |
| At 1 November 2023 |
| and 31 October 2024 |
| NET BOOK VALUE |
| At 31 October 2024 |
| At 31 October 2023 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and | Motor |
| fittings | vehicles | Equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 November 2023 |
| Additions |
| At 31 October 2024 |
| DEPRECIATION |
| At 1 November 2023 |
| Charge for year |
| At 31 October 2024 |
| NET BOOK VALUE |
| At 31 October 2024 |
| At 31 October 2023 |
| POLYCHRONIS CANCER SERVICES LIMITED (REGISTERED NUMBER: 07418642) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| 6. | FIXED ASSET INVESTMENTS |
| Unlisted |
| investments |
| £ |
| COST OR VALUATION |
| At 1 November 2023 |
| Revaluations |
| At 31 October 2024 |
| NET BOOK VALUE |
| At 31 October 2024 |
| At 31 October 2023 |
| Cost or valuation at 31 October 2024 is represented by: |
| Unlisted |
| investments |
| £ |
| Valuation in 2019 | 68,780 |
| Valuation in 2020 | (2,956 | ) |
| Valuation in 2022 | 8,450 |
| Valuation in 2023 | 5,485 |
| Valuation in 2024 | 10,018 |
| 89,777 |
| 7. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 November 2023 |
| and 31 October 2024 |
| NET BOOK VALUE |
| At 31 October 2024 |
| At 31 October 2023 |
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| POLYCHRONIS CANCER SERVICES LIMITED (REGISTERED NUMBER: 07418642) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade creditors |
| Tax |
| Other creditors |
| Directors' loan accounts | 53,024 | 2,631 |
| 10. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2024 | 2023 |
| £ | £ |
| Within one year |
| Between one and five years |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary A shares | 1 | 1 | 1 |
| Ordinary B shares | 1 | - | 1 |
| Ordinary C shares | 1 | 1 | 1 |
| 2 | 3 |
| During the year the company repurchased 1 £1 Ordinary B share from Mr P Polychronis for a total consideration of £300,000. |