Exomedica Ltd Accounts






Exomedica Ltd

	Company No. 05044775
		Directors' Report and Unaudited Accounts
		31 December 2024




							Pages

Company Information							2
Directors' Report							3
Accountant's Report							4
Profit and Loss Account							5
Statement of Comprehensive Income							6
Balance Sheet							7
Statement of Changes in Equity							8
Notes to the Accounts							9 to 12

Directors

M. Fisher
M. Herbert
A. Newell






































Secretary

Bury Company Services Ltd

Registered Office

80 Guildhall Street
Bury St Edmunds
Suffolk

IP33 1QB

Accountants

Waller Wilson & Co
5 Nook Close
Stamford Bridge

York
YO41 1SR

The Directors present their report and the accounts for the year ended 31 December 2024.

Principal activities

The principal activity of the company during the year under review was holding a portfolio of shares in medical technology companies.




Directors

The Directors who served at any time during the year were as follows:

M. Fisher
M. Herbert
A. Newell







































































The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.

Signed on behalf of the board

M. Herbert
Director
24 September 2025

Chartered Accountant's Report to the Board of Directors of Exomedica Ltd on the preparation of the unaudited statutory accounts for the year ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006 , we have prepared for your approval the accounts of Exomedica Ltd for the year ended 31 December 2024 which comprise the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the Notes to the Accounts from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Exomedica Ltd, as a body, in accordance with the terms of our engagement letter dated . Our work has been undertaken solely to prepare for your approval the accounts of Exomedica Ltd and state those matters that we have agreed to state to the Board of Directors of Exomedica Ltd, as a body, in this report in accordance with AAF 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Exomedica Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Exomedica Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Exomedica Ltd. You consider that Exomedica Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Exomedica Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

Waller Wilson & Co
Chartered Accountants
5 Nook Close
Stamford Bridge

York
YO41 1SR
24 September 2025

for the year ended 31 December 2024

	2024	2023
	£	£
Turnover	-	-







Administrative expenses	(6,309)	(4,283)



Operating loss	(6,309)	(4,283)

Income from investments	-	6,000



Fair value adjustments	(309,732)	(1,300,651)





Loss on ordinary activities before taxation	(316,041)	(1,298,934)

Taxation	-	-

Loss for the financial year after taxation	(316,041)	(1,298,934)

STATEMENT OF COMPREHENSIVE INCOME

for the year ended 31 December 2024

	2024	2023

	£	£
Loss for the financial year after taxation	(316,041)	(1,298,934)







Total comprehensive income for the period	(316,041)	(1,298,934)

at	31 December 2024

Company No.		05044775	Notes	2024	2023
				£	£
Fixed assets



	Investments		4	189,136	500,868
				189,136	500,868
Current assets

	Debtors		5	2,816	2,720

	Cash at bank and in hand			9,062	12,687
				11,878	15,407
Creditors: Amount falling due within one year			6	(1,393,148)	(1,392,368)
Net current liabilities				(1,381,270)	(1,376,961)
Total assets less current liabilities				(1,192,134)	(876,093)




Net liabilities				(1,192,134)	(876,093)

Capital and reserves
	Called up share capital			301,306	301,306
	Share premium account		7	3,107,839	3,107,839


	Profit and loss account		7	(4,601,279)	(4,285,238)

Total equity				(1,192,134)	(876,093)



These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.

For the year ended 31 December 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.



Approved by the board on 24 September 2025 and signed on its behalf by:
M. Herbert
Director
24 September 2025

for the year ended 31 December 2024

		Share Capital	Share Premium	Retained earnings	Total equity
		£	£	£	£
	At 1 January 2023	301,306	3,107,839	(2,986,304)	422,841




	Loss for the period			(1,298,934)	(1,298,934)







	At 31 December 2023 and 1 January 2024	301,306	3,107,839	(4,285,238)	(876,093)




	Loss for the period			(316,041)	(316,041)


	At 31 December 2024	301,306	3,107,839	(4,601,279)	(1,192,134)

for the year ended 31 December 2024

General information

Exomedica Ltd is a private company limited by shares and incorporated in England and Wales.

Its registered number is: 05044775

Its registered office is:

80 Guildhall Street

Bury St Edmunds

Suffolk

IP33 1QB

The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Accounting policies and basis of preparation

Basis of preparation

Going Concern
The accounts have been prepared under the going concern assumption on the following basis. The
company is dependent on the loan from BoostFocal Ltd continuing until it can be repaid. The directors
remain confident of additional shareholder support to fund the relatively modest operating costs.
Consolidated accounts
The accounts contain information about Exomedica Ltd as an individual company and do not contain
financial information as the parent of a group. The company has taken the option under Section 398 of
the Companies Act 2006 not to prepare consolidated accounts.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for services provided.

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 profit and loss account 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. The company has no liability to tax for the current or the preceding year.

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 temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary 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. No deferred tax asset has been included because, in the opinion of the directors, there will be no suitable profits available in the foreseeable future in order to realise the benefit of the tax losses held by the company.

Investments

Unlisted investments are recognised initially at the transaction price. Subsequent to initial recognition,
where fair value can be measured reliably, investments are stated at fair value with changes in fair value recognised in profit and loss. Where fair value cannot be measured reliably, such investments are valued at cost less impairment. Where a reliable measure of fair value for any investment is no longer available, its carrying amount as at the last date the asset was reliably measurable becomes its new cost and the investment is measured at this cost amount less impairment until a measure of fair value becomes available. Impairment charges are included with fair value adjustments in the profit and loss account with the split between the two shown in the investment note to the accounts. Where it has been applied, the basis of fair value has been the price of recent transactions where there has been no significant change in economic circumstances and no significant lapse in time since the transaction.

Trade and other debtors

Trade and other debtors are initially recognised at the initial transaction price and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors and loans with no fixed repayment date are measured at the transaction price.

3	Employees
			2024	2023
			Number	Number
		The average monthly number of employees (including directors) during the year was:	0	0

4	Investments
			Investment in Subsidiaries	Other investments unlisted	Total
			£	£	£
		Cost or valuation
		At 1 January 2024 as previously reported	75,060	1,263,642	1,338,702
		Correct classification between impairment and valuation	-	798,532	798,532
		At 1 January 2024 restated	75,060	2,062,174	2,137,234

		Revaluation	-	(419,603)	(419,603)
		Disposals	-	(2,000)	(2,000)
		At 31 December 2024	75,060	1,640,571	1,715,631
		Provisions/Impairment
		At 1 January 2024 as previously reported	-	837,834	837,834
		Correct classification between impairment and valuation	-	798,532	798,532
		At 1 January 2024 restated	-	1,636,366	1,636,366
		Impairment loss	-	228,152	228,152
		Revaluation	-	(338,023)	(338,023)

		At 31 December 2024	-	1,526,495	1,526,495
		Net book values
		At 31 December 2024	75,060	114,076	189,136
		At 31 December 2023	75,060	425,808	500,868

5	Debtors
			2024	2023
			£	£





		Due from directors	1	-

		Prepayments and accrued income	2,815	2,720
			2,816	2,720

6	Creditors:
		amounts falling due within one year
			2024	2023
			£	£


		Other loans	1,391,588	1,391,588






		Accruals and deferred income	1,560	780
			1,393,148	1,392,368

Reserves

Share premium account - includes any premiums received on issue of share capital. Any transaction costs associated with the issuing of shares are deducted from share premium.

Share capital - on a return of capital the preference shares in Exomedica Ltd are entitled to £1.25 per
share (including any dividends) in preference to ordinary shares, and after that to nothing. There are
1,170,000 24pence preference shares in aggregate entitled to £1,432,500.

Profit and loss account - includes all current and prior period retained profits and losses.

8	Amounts due from directors
			2024
			£

		Arising in the period	1



		At 31 December 2024	1

		The amount due from a director at the year end of £1 arose on 16 December 2024 and was paid to the company on 23 January 2025. There were no conditions, no interest was charged and the maximum amount outstanding was £1.

Related party disclosures

Transactions with related parties

The company has a loan from BoostFocal Ltd, which is a company controlled by a director, Michael
Herbert. The amount outstanding at the year end was £1,391,588 (2023 £1,391,588). The terms of this
loan were that an annual fee was due of 4% plus NatWest Bank base rate on the balance outstanding at
1 December each year. This fee was included in the loan balance at the end of each year. The loan is
unsecured and has no fixed repayment date and no interest is charged. In accordance with the loan
agreement the terms may be varied at the option of the lender so that the loan would be secured by
fixed and floating charge over all the company's assets and so that it would be interest bearing.
During 2023 BoostFocal Ltd notified the company that the annual fee for the loan will be waived
until further notice and any such notice, if given, will be not less than 1 year and 1 day. No such notice
has been given and accordingly there is no charge for 2024 and there was no charge for 2023.