Inivos Limited Company accounts

COMPANY REGISTRATION NUMBER: 07183575

INIVOS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 December 2024

INIVOS LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

Contents	Page

Officers and professional advisers	1

Strategic report	2

Directors' report	3

Independent auditor's report to the member	5

Statement of comprehensive income	9

Statement of financial position	10

Statement of changes in equity	11

Notes to the financial statements	12

INIVOS LIMITED

OFFICERS AND PROFESSIONAL ADVISERS

The board of directors	W Fentiman
	M Fentiman

Registered office	Ashurst House
	Bakewell Road
	Orton Southgate
	Peterborough
	England
	PE2 6YS

Auditor	Streets Audit LLP
	Chartered accountants & statutory auditor
	Windsor House
	A1 Business Park at
	Long Bennington
	Notts
	NG23 5JR

INIVOS LIMITED

STRATEGIC REPORT

YEAR ENDED 31 DECEMBER 2024

Principal activities Inivos Limited has no trading within the financial year of 2024 as during 2023 the operations of Inivos Limited were transferred out of Inivos Limited to fellow group companies. Business review and results As part of our continued strategy to create a series of independently operated and well-focussed businesses, during the first six months of 2023 concluded a re-organisation of the group of companies within which Inivos Limited is a subsidiary. As a result of this re-organisation, the businesses within Inivos Limited were transferred into separate new companies. The ultimate ownership of these new companies after the transfers was unchanged. During the year the company impaired £11.3m of amounts owed by group companies which were formally waived in 2025. Principal risks and uncertainties The Board monitors the impact of economic headwinds on the business, and seeks to protect employees, customers and suppliers where practical.

This report was approved by the board of directors on 16 September 2025 and signed on behalf of the board by:

W Fentiman

Director

Registered office:

Ashurst House

Bakewell Road

Orton Southgate

Peterborough

England

PE2 6YS

INIVOS LIMITED

DIRECTORS' REPORT

YEAR ENDED 31 DECEMBER 2024

The directors present their report and the financial statements of the company for the year ended 31 December 2024 .

Directors

The directors who served the company during the year were as follows:

W Fentiman
M Fentiman

Dividends

The directors do not recommend the payment of a dividend.

Disclosure of information in the strategic report

The company has chosen to set out in the strategic report information about the results for the year, principal risks and uncertainties and the future developments of the company.

Directors' responsibilities statement

The directors are responsible for preparing the strategic report, directors' report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: - select suitable accounting policies and then apply them consistently; - make judgments and accounting estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Auditor

Each of the persons who is a director at the date of approval of this report confirms that:

- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.

This report was approved by the board of directors on 16 September 2025 and signed on behalf of the board by:

W Fentiman

Director

Registered office:

Ashurst House

Bakewell Road

Orton Southgate

Peterborough

England

PE2 6YS

INIVOS LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBER OF INIVOS LIMITED

YEAR ENDED 31 DECEMBER 2024

Opinion

We have audited the financial statements of Inivos Limited (the 'company') for the year ended 31 December 2024 which comprise the statement of comprehensive income, statement of financial position, statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its loss for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

- the information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of directors' remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was that we identified the material laws and regulations applicable to the company through discussions with management, and from our commercial knowledge and experience of the company and the medical scientific support sector in which it operates. We then assessed the extent of compliance with these laws and regulations through making enquiries of management. We then assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. To address the risk of fraud through management bias and override of controls we tested journal entries to identify unusual transactions, we assessed whether judgements and assumptions made in determining the accounting estimates set out in Note 3 were indicative of potential bias; and we investigated the rationale behind significant or unusual transactions. In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to agreeing financial statement disclosures to underlying supporting documentation, reading the minutes of meetings of those charged with governance, enquiring with management as to actual and potential litigation and claims, direct discussions and correspondence with legal advisers, and reviewing correspondence with HMRC and relevant regulators. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report. Use of our report

This report is made solely to the company's member, as a body, in accordance with chapter 3 of part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's member those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's member as a body, for our audit work, for this report, or for the opinions we have formed.

Mark Bradshaw

(Senior Statutory Auditor)

For and on behalf of

Streets Audit LLP

Chartered accountants & statutory auditor

Windsor House

A1 Business Park at

Long Bennington

Notts

NG23 5JR

17 September 2025

INIVOS LIMITED

STATEMENT OF COMPREHENSIVE INCOME

YEAR ENDED 31 DECEMBER 2024

		2024			2023
		Continuing operations	Discont'd operations	Total	Continuing operations	Discont'd operations	Total
Note		£	£	£	£	£	£
Turnover	4	–	–	–	38,134	16,356,641	16,394,775

Cost of sales	–	–	–	–	( 13,510,847)	( 13,510,847)
	----	----	----	--------	-------------	-------------
Gross profit	–	–	–	38,134	2,845,794	2,883,928

Administrative expenses		( 541,775)	–	( 541,775)	( 936,494)	( 2,242,251)	( 3,178,745)
Exceptional items		( 12,085,127)	–	( 12,085,127)	–	–	–
		-------------	----	-------------	---------	------------	------------
Operating loss	5	( 12,626,902)	–	( 12,626,902)	( 898,360)	603,543	( 294,817)

Gain on impairment or disposal of operations		–	–	–	–	16,485,526	16,485,526
Other interest receivable and similar income	9	5,576	–	5,576	42,993	–	42,993
Interest payable and similar expenses	10	( 1,954)	–	( 1,954)	( 1,022)	–	( 1,022)
		-------------	----	-------------	---------	-------------	-------------
(Loss)/profit before taxation		( 12,623,280)	–	( 12,623,280)	( 856,389)	17,089,069	16,232,680

Tax on (loss)/profit	11	( 73,034)	–	( 73,034)	762,838	–	762,838
		-------------	----	-------------	---------	-------------	-------------
(Loss)/profit for the financial year and total comprehensive income		( 12,696,314)	–	( 12,696,314)	( 93,551)	17,089,069	16,995,518
		-------------	----	-------------	---------	-------------	-------------

INIVOS LIMITED

STATEMENT OF FINANCIAL POSITION

31 December 2024

	2024	2023
Note	£	£

Fixed assets

Intangible assets	12	58,909	89,411

Current assets

Debtors	13	20,312,664	27,682,937
Cash at bank and in hand		142,184	687,471
		-------------	-------------
		20,454,848	28,370,408

Creditors: amounts falling due within one year	14	( 7,304,970)	( 2,554,718)
		-------------	-------------
Net current assets		13,149,878	25,815,690
		-------------	-------------
Total assets less current liabilities		13,208,787	25,905,101
		-------------	-------------
Net assets		13,208,787	25,905,101
		-------------	-------------

Capital and reserves

Called up share capital	16	5	5
Profit and loss account	17	13,208,782	25,905,096
		-------------	-------------
Shareholder funds		13,208,787	25,905,101
		-------------	-------------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the medium companies regime.

These financial statements were approved by the board of directors and authorised for issue on 16 September 2025 , and are signed on behalf of the board by:

W Fentiman

Director

Company registration number: 07183575

INIVOS LIMITED

STATEMENT OF CHANGES IN EQUITY

YEAR ENDED 31 DECEMBER 2024

	Called up share capital	Profit and loss account	Total
	£	£	£
At 1 January 2023	5	9,614,578	9,614,583

Profit for the year		16,995,518	16,995,518
	----	-------------	-------------
Total comprehensive income for the year	–	16,995,518	16,995,518

Investments by and distributions to group companies	–	( 705,000)	( 705,000)
	----	-------------	-------------
Total investments by and distributions to owners	–	( 705,000)	( 705,000)

At 31 December 2023	5	25,905,096	25,905,101

Loss for the year		( 12,696,314)	( 12,696,314)
	----	-------------	-------------
Total comprehensive income for the year	–	( 12,696,314)	( 12,696,314)

	----	-------------	-------------
At 31 December 2024	5	13,208,782	13,208,787
	----	-------------	-------------

INIVOS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Ashurst House, Bakewell Road, Orton Southgate, Peterborough, PE2 6YS, England.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis and in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis. The directors have considered relevant information including the significant reserves of the company in making this assessment, and the directors can call on other group companies to settle balances if cash is required. Based on these assessments, the directors have concluded that there is no material uncertainty and that they can continue to adopt the going concern basis in preparing the financial statements.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of Specialist Health Solutions Limited which can be obtained from the registered office. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) Disclosures in respect of each class of share capital have not been presented. (b) No cash flow statement has been presented for the company. (c) Disclosures in respect of financial instruments have not been presented. (e) No disclosure has been given for the aggregate remuneration of key management personnel.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The actual outcome may diverge from these estimates if other assumptions are made, or other conditions arise. - Significant judgements The directors have impaired balances owed by group companies where these have been formally waived after the year end. - Key sources of estimation uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The only key assumption and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are the depreciation and amortisation charges. These are sensitive to changes in the useful economic lives and residual values of the asset and are reviewed periodically by the Directors to ensure that they reflect both external and internal factors.

Revenue recognition

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Revenue from maintenance contracts are recognised over the period to which they relate. Revenue from design and build contracts is recognised as a percentage of costs incurred. Revenue is recognised on construction services over time as benefit is transferred to the customer. The Company uses an input method to measure progress. The percentage of completion is measured using cost incurred to date as a proportion of the estimated full costs of completing the contract and is applied to the expected contract revenue to determine the revenue and profit to be recognised to date.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Goodwill	-	10% straight line
Patents, trademarks and licences	-	12.5% straight line
Website	-	33% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Research and development

Research expenditure is written off in the period in which it is incurred.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Property improvements	-	20% to 33% straight line
Plant and machinery	-	25% to 33% straight line
Office equipment	-	25% straight line
Motor vehicles	-	25% straight line

Property improvements are depreciated from the date the units are brought in to use.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

The company only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.

4. Turnover

Turnover arises from:

	2024	2023
	£	£
Sale of goods	–	1,451,031
Rendering of services	–	14,943,744
	----	-------------
	–	16,394,775
	----	-------------

The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.

5. Operating loss

Operating profit or loss is stated after charging:

	2024	2023
	£	£
Amortisation of intangible assets	30,502	28,801
Depreciation of tangible assets	–	193,207
Impairment of trade debtors	–	89,191
Research and development expenditure written off	–	86,684
Foreign exchange differences	5,408	19,528
Operating lease costs	–	227,663
	--------	---------

6. Auditor's remuneration

	2024	2023
	£	£
Fees payable for the audit of the financial statements	7,500	13,000
	-------	--------

7. Staff costs

The average number of persons employed by the company during the year, including the directors, amounted to:

	2024	2023
	No.	No.
Production staff	–	34
Administrative staff	–	9
Management staff	–	2
	----	----
	–	45
	----	----

The aggregate payroll costs incurred during the year, relating to the above, were:

	2024	2023
	£	£
Wages and salaries	–	1,079,678
Social security costs	–	126,104
	----	------------
	–	1,205,782
	----	------------

8. Exceptional items

Exceptional items includes £11,314,546 impairment of amounts owed by group undertakings which were formally waived in 2025, and £770,581 of legal fees.

9. Other interest receivable and similar income

	2024	2023
	£	£
Interest on cash and cash equivalents	5,576	330
Other interest receivable and similar income	–	42,663
	-------	--------
	5,576	42,993
	-------	--------

10. Interest payable and similar expenses

	2024	2023
	£	£
Interest on obligations under finance leases and hire purchase contracts	–	1,022
Other interest payable and similar charges	1,954	–
	-------	-------
	1,954	1,022
	-------	-------

11. Tax on (loss)/profit

Major components of tax expense/(income)

	2024	2023
	£	£

Current tax:

UK current tax income	( 112,435)	( 399,946)
Adjustments in respect of prior periods	399,946	–
	---------	---------
Total current tax	287,511	( 399,946)
	---------	---------

Deferred tax:

Origination and reversal of timing differences	( 214,477)	( 362,892)
	---------	---------
Tax on (loss)/profit	73,034	( 762,838)
	---------	---------

Reconciliation of tax expense/(income)

The tax assessed on the (loss)/profit on ordinary activities for the year is higher than (2023: lower than) the standard rate of corporation tax in the UK of 25 % (2023: 23.52 %).

	2024	2023
	£	£
(Loss)/profit on ordinary activities before taxation	( 12,623,280)	16,232,680
	-------------	-------------
(Loss)/profit on ordinary activities by rate of tax	( 3,155,820)	3,818,015
Adjustment to tax charge in respect of prior periods	399,946	–
Effect of expenses not deductible for tax purposes	2,832,611	12,696
Effect of capital allowances and depreciation	( 3,703)	7,080
Utilisation of tax losses	–	( 260,358)
Unused tax losses	–	( 258,905)
Rounding on tax charge	–	( 6,154)
Effect of research and development	–	( 14,615)
Other tax adjustment on transfer of trades	–	( 4,060,597)
	-------------	-------------
Tax on (loss)/profit	73,034	( 762,838)
	-------------	-------------

12. Intangible assets

	Patents, trademarks and licences	Website	Total
	£	£	£
Cost
At 1 January 2024 and 31 December 2024	212,379	18,870	231,249
	---------	--------	---------
Amortisation
At 1 January 2024	122,968	18,870	141,838
Charge for the year	30,502	–	30,502
	---------	--------	---------
At 31 December 2024	153,470	18,870	172,340
	---------	--------	---------
Carrying amount
At 31 December 2024	58,909	–	58,909
	---------	--------	---------
At 31 December 2023	89,411	–	89,411
	---------	--------	---------

13. Debtors

	2024	2023
	£	£
Trade debtors	9,230	41,822
Amounts owed by group undertakings	18,747,302	26,304,277
Deferred tax asset	1,507,907	1,293,430
Prepayments and accrued income	163	11,050
Other debtors	48,062	32,358
	-------------	-------------
	20,312,664	27,682,937
	-------------	-------------

The debtors above include the following amounts falling due after more than one year:

	2024	2023
	£	£
Amounts owed by group undertakings	2,785,454	14,100,000
	------------	-------------

Amounts owed by group undertakings of £15,961,848 are repayable on demand and no interest is charged.

14. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	283,099	98,481
Amounts owed to group undertakings	4,581,295	–
Accruals and deferred income	2,434,857	2,413,357
Social security and other taxes	–	31,572
Other creditors	5,719	11,308
	------------	------------
	7,304,970	2,554,718
	------------	------------

Hire purchase agreements are secured against the assets to which they relate.

Amounts owed to group undertakings are repayable on demand and no interest is charged.

15. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2024	2023
	£	£
Included in debtors (note 13)	1,507,907	1,293,430
	------------	------------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2024	2023
	£	£
Accelerated capital allowances	( 20,051)	( 22,917)
Unused tax losses	( 884,088)	( 666,746)
Provisions	( 603,768)	( 603,767)
	------------	------------
	(1,507,907)	(1,293,430)
	------------	------------

The deferred tax asset is expected to unravel in the next few years as the losses are utilised against future forecast profits within the group and accruals and provisions are released.

16. Called up share capital

Issued, called up and fully paid

	2024		2023
	No.	£	No.	£
Ordinary shares of £ 1 each	5	5	5	5
	----	----	----	----

17. Reserves

Profit and loss account - This reserve records retained earnings and accumulated losses.

18. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2024	2023
	£	£
Not later than 1 year	–	192,041
Later than 1 year and not later than 5 years	–	144,971
	----	---------
	–	337,012
	----	---------

Operating leases have been novated to another group company .

19. Related party transactions

Loans exist with companies owned by a former director and shareholder. At the year end the company was owed £13,103 (2023 - £12,169) by those entities. The directors have taken advantage of the exemption in FRS102 from disclosing related party transactions with group companies on the grounds that the company is a subsidiary undertaking where 100% of the voting rights are controlled within the group, and the consolidated financial statements in which the company is included are publicly available. No other material transactions arose which are required to be disclosed under FRS 102.

20. Controlling party

The immediate parent undertaking is Specialist Health Solutions Limited . Copies of the Specialist Health Solutions Limited consolidated financial statements can be obtained from the registered office Ashurst House, Bakewell Road, Orton Southgate, Peterborough, England, PE2 6YS . The ultimate controlling party is W Fentiman .