Company No: 07568134 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	Christopher Spakouskas (Resigned 05 April 2025)
	Gillian Evelyn Spakouskas
	Tim Spakouskas

REGISTERED OFFICE	Wellington House Aviator Court
	Clifton Moor
	York
	YO30 4UZ
	United Kingdom

COMPANY NUMBER

07568134 (England and Wales)

ACCOUNTANT	Ian Walker & Co
	Wellington House
	Aviator Court
	Clifton Moor
	York
	YO30 4UZ

	Note	31.12.2024		31.03.2024
		£		£
Fixed assets
Intangible assets	4	1,875		3,000
Tangible assets	5	434,693		408,381
		436,568		411,381
Current assets
Stocks	6	280,372		445,215
Debtors	7	106,714		48,138
Cash at bank and in hand	8	23,501		7,339
		410,587		500,692
Creditors: amounts falling due within one year	9	( 605,950)		( 613,892)
Net current liabilities		(195,363)		(113,200)
Total assets less current liabilities		241,205		298,181
Creditors: amounts falling due after more than one year	10	( 206,466)		( 122,077)
Provision for liabilities	11, 12	( 33,652)		( 28,654)
Net assets		1,087		147,450
Capital and reserves
Called-up share capital	13	2		2
Profit and loss account		1,085		147,448
Total shareholders' funds		1,087		147,450

For the financial period ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial period in accordance with section 476;
• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Yorkshire Heart Limited (registered number: 07568134) were approved and authorised for issue by the Board of Directors on 12 September 2025. They were signed on its behalf by:

Gillian Evelyn Spakouskas Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Yorkshire Heart Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Wellington House Aviator Court, Clifton Moor, York, YO30 4UZ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The financial statements have been prepared for a period of 9 months, from 1 April 2024 to 31 December 2024, as a result of a change in the company’s accounting reference date. Consequently, the comparative figures presented in these financial statements cover a period of 12 months and are therefore not entirely comparable with the current period’s results.

This change has been made in accordance with the requirements of FRS 102 Section 3.3 and the Companies Act 2006, and has been appropriately disclosed in the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

10 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	not depreciated
Plant and machinery etc.	15 - 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the directors are required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the directors have made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

	Period from 01.04.2024 to 31.12.2024		Year ended 31.03.2024
	Number		Number
Monthly average number of persons employed by the Company during the period, including directors	16		11

4. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 April 2024	15,000		15,000
At 31 December 2024	15,000		15,000
Accumulated amortisation
At 01 April 2024	12,000		12,000
Charge for the financial period	1,125		1,125
At 31 December 2024	13,125		13,125
Net book value
At 31 December 2024	1,875		1,875
At 31 March 2024	3,000		3,000

5. Tangible assets

	Land and buildings		Plant and machinery etc.		Total
	£		£		£
Cost
At 01 April 2024	257,573		376,390		633,963
Additions	0		84,842		84,842
Disposals	0		( 30,946)		( 30,946)
At 31 December 2024	257,573		430,286		687,859
Accumulated depreciation
At 01 April 2024	0		225,582		225,582
Charge for the financial period	0		34,563		34,563
Disposals	0		( 6,979)		( 6,979)
At 31 December 2024	0		253,166		253,166
Net book value
At 31 December 2024	257,573		177,120		434,693
At 31 March 2024	257,573		150,808		408,381

6. Stocks

	31.12.2024		31.03.2024
	£		£
Stocks	28,472		96,890
Work in progress	251,900		348,325
	280,372		445,215

There are no material differences between the replacement cost of stock and the Balance Sheet amounts.

7. Debtors

	31.12.2024		31.03.2024
	£		£
Trade debtors	31,133		31,806
Other debtors	75,581		16,332
	106,714		48,138

8. Cash and cash equivalents

	31.12.2024		31.03.2024
	£		£
Cash at bank and in hand	23,501		7,339

9. Creditors: amounts falling due within one year

	31.12.2024		31.03.2024
	£		£
Bank loans	39,090		32,828
Trade creditors	27,482		28,156
Taxation and social security	36,125		30,377
Other creditors	503,253		522,531
	605,950		613,892

10. Creditors: amounts falling due after more than one year

	31.12.2024		31.03.2024
	£		£
Bank loans	206,466		122,077

There are no amounts included above in respect of which any security has been given by the small entity.

11. Provision for liabilities

	31.12.2024		31.03.2024
	£		£
Deferred tax	33,652		28,654

12. Deferred tax

	31.12.2024		31.03.2024
	£		£
At the beginning of financial period/year	( 28,654)		( 22,526)
Charged to the Statement of Income and Retained Earnings	( 4,998)		( 6,128)
At the end of financial period/year	( 33,652)		( 28,654)

13. Called-up share capital

	31.12.2024		31.03.2024
	£		£
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each	2		2