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REGISTERED NUMBER: 07418642 (England and Wales)















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: Dr A Polychronis





REGISTERED OFFICE: 143 Hadley Road
Barnet
EN5 5QN





REGISTERED NUMBER: 07418642 (England and Wales)





ACCOUNTANTS: TCA (Shrewsbury) LLP
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 14,171 18,924
Investments 6 89,777 79,759
Investment property 7 584,720 584,720
688,668 683,403

CURRENT ASSETS
Debtors 8 43,788 45,467
Cash at bank 1,340,608 1,120,276
1,384,396 1,165,743
CREDITORS
Amounts falling due within one year 9 456,976 126,588
NET CURRENT ASSETS 927,420 1,039,155
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,616,088

1,722,558

PROVISIONS FOR LIABILITIES 3,543 4,731
NET ASSETS 1,612,545 1,717,827

CAPITAL AND RESERVES
Called up share capital 11 2 3
Capital redemption reserve 1 -
Retained earnings 1,612,542 1,717,824
SHAREHOLDERS' FUNDS 1,612,545 1,717,827

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 July 2025 and were signed by:





Dr A Polychronis - Director


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
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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 1 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2023
and 31 October 2024 60,000
AMORTISATION
At 1 November 2023
and 31 October 2024 60,000
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 6,544 75,725 12,505 94,774
Additions - - 3,208 3,208
At 31 October 2024 6,544 75,725 15,713 97,982
DEPRECIATION
At 1 November 2023 5,371 60,721 9,758 75,850
Charge for year 391 5,002 2,568 7,961
At 31 October 2024 5,762 65,723 12,326 83,811
NET BOOK VALUE
At 31 October 2024 782 10,002 3,387 14,171
At 31 October 2023 1,173 15,004 2,747 18,924

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 79,759
Revaluations 10,018
At 31 October 2024 89,777
NET BOOK VALUE
At 31 October 2024 89,777
At 31 October 2023 79,759

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 584,720
NET BOOK VALUE
At 31 October 2024 584,720
At 31 October 2023 584,720

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 43,788 45,467

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 4,104 3,720
Tax 147,934 120,237
Other creditors 251,914 -
Directors' loan accounts 53,024 2,631
456,976 126,588

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 9,475 -
Between one and five years 27,634 -
37,109 -

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary A shares 1 1 1
1 Ordinary B shares 1 - 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.