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Registered number: 11203534
Medical Asset Management Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
Ingenious Accounting Ltd
Certified Chartered Accountants
5th Floor
167-169 Great Portland Street
London
W1W 5PF
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 11203534
31 August 2024 31 August 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,293 2,848
Investments 5 442,775 142,790
446,068 145,638
CURRENT ASSETS
Debtors 152,695 169,789
Investments 6 114,452 203,236
Cash at bank and in hand 427,773 348,308
694,920 721,333
Creditors: Amounts Falling Due Within One Year 7 (1,089,192 ) (840,450 )
NET CURRENT ASSETS (LIABILITIES) (394,272 ) (119,117 )
TOTAL ASSETS LESS CURRENT LIABILITIES 51,796 26,521
Creditors: Amounts Falling Due After More Than One Year 8 - (19,895 )
NET ASSETS 51,796 6,626
CAPITAL AND RESERVES
Called up share capital 9 2 2
Fair value reserve 11 11,308 -
Profit and Loss Account 40,486 6,624
SHAREHOLDERS' FUNDS 51,796 6,626
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Page 2
For the year ending 31 August 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Dr Jonathan Hoare
Director
26 August 2025
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Medical Asset Management Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11203534 . The registered office is 5th Floor, 167-169 Great Portland Street, London, W1W 5PF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Office, Studio & Computer Equipment 20.00% Straight Line Basis
2.4. Financial Instruments
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
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. 
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through the Profit and Loss Account, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party. Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.
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2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.6. Valuation of Investments
Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Office, Studio & Computer Equipment
£
Cost
As at 1 September 2023 4,573
Additions 1,699
As at 31 August 2024 6,272
Depreciation
As at 1 September 2023 1,725
Provided during the period 1,254
As at 31 August 2024 2,979
Net Book Value
As at 31 August 2024 3,293
As at 1 September 2023 2,848
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Page 5
5. Investments
Unlisted
£
Cost
As at 1 September 2023 142,790
Additions 299,985
As at 31 August 2024 442,775
Provision
As at 1 September 2023 -
As at 31 August 2024 -
Net Book Value
As at 31 August 2024 442,775
As at 1 September 2023 142,790
The Company invested £299,985 in Ambulatory Surgery International Ltd during the year.
6. Current Asset Investments
31 August 2024 31 August 2023
£ £
Listed investments 114,452 203,236
7. Creditors: Amounts Falling Due Within One Year
31 August 2024 31 August 2023
£ £
Bank loans and overdrafts - 18,365
Other creditors 1,089,192 822,085
1,089,192 840,450
8. Creditors: Amounts Falling Due After More Than One Year
31 August 2024 31 August 2023
£ £
Bank loans - 19,895
The Company fully repaid the bank loan during the year.
9. Share Capital
31 August 2024 31 August 2023
£ £
Allotted, Called up and fully paid 2 2
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10. Directors Advances, Credits and Guarantees
Included within Creditors are the following loans to directors:
As at 1 September 2023 Amounts advanced Amounts repaid Amounts written off As at 31 August 2024
£ £ £ £ £
Dr Jonathan Hoare 5 (206,449 ) 207,000 - 555
The above loan is unsecured, interest free and repayable on demand.
11. Reserves
Fair Value Reserve
£
Movements in fair value reserve 11,308
As at 31 August 2024 11,308
12. Related Party Transactions
At the year end, the Company owed £18,684 (2023: £34,155) to a connected entity, ASI London A Clinician LLP.
At the year end, the Company owed £1,082,215 (2023: £793,743) to a connected entity, London Digestive Health Limited. At the year end, London Digestive Health Limited is also holding on to cash in the sum of £134,000 paid in advance by the Company for investment in 1 Ordinary E share in London Digestive Health Limited.
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