REGISTERED NUMBER: 12431933 (England and Wales)

Unaudited Financial Statements for the Year Ended 31st December 2024

for

Sterling Healthcare Group Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Dr A Y M J Al-Memar

SECRETARY:

Ms M Mitchell

REGISTERED OFFICE:

New Malden Diagnostic Centre The Groves

171 Clarence Ave

New Malden

United Kingdom

KT3 3TX

REGISTERED NUMBER:

12431933 (England and Wales)

ACCOUNTANTS:

Sampson Fielding Ltd

34 - 35 Clarges Street

Mayfair

London

W1J 7EJ

FIXED ASSETS

Intangible assets

4

38,415

58,987

Tangible assets

5

168,133

155,174

206,548

214,161

CURRENT ASSETS

Debtors

6

312,510

540,550

Cash in hand

32

311

312,542

540,861

CREDITORS

Amounts falling due within one year

7

884,666

1,675,653

NET CURRENT LIABILITIES

(572,124

)

(1,134,792

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(365,576

)

(920,631

)

CREDITORS

Amounts falling due after more than one year

8

-

(7,104

)

PROVISIONS FOR LIABILITIES

(15,341

)

(19,354

)

NET LIABILITIES

(380,917

)

(947,089

)

CAPITAL AND RESERVES

Called up share capital

106

106

Share premium

549,894

549,894

Retained earnings

(930,917

)

(1,497,089

)

(380,917

)

(947,089

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 26th September 2025 and were signed by:

Dr A Y M J Al-Memar - Director

1.	STATUTORY INFORMATION

Sterling Healthcare Group Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The company's activity is a large private outpatient and diagnostics clinic in South London, close to Wimbledon and Kingston-upon-Thames.

Services provided to patients are recognised as turnover according to the date when the treatments are provided.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Computer equipment

-

20% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Going concern

These financial statements have been prepared on the going concern basis, which presumes that the company is able to continue in operational existence for the foreseeable future. The company is reliant upon the continued support of its creditors, directors and fellow associated companies. If this support was withdrawn, the company would be unable to continue in operational existence. Adjustments would then have to be made to reduce the balance sheet values of assets to their recoverable amounts and to provide for any further liabilities that may arise. The company is unable to quantify the effect of such adjustments on the financial statements.

The directors believe that it is appropriate for the financial statements to be prepared on the going concern basis.

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.

Development costs are being amortised evenly over their estimated useful life of five years.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 17 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1st January 2024

and 31st December 2024

1

148,276

148,277

AMORTISATION

At 1st January 2024

-

89,290

89,290

Charge for year

-

20,572

20,572

At 31st December 2024

-

109,862

109,862

NET BOOK VALUE

At 31st December 2024

1

38,414

38,415

At 31st December 2023

1

58,986

58,987

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1st January 2024

47,250

212,341

31,345

75,405

366,341

Additions

-

107,908

-

-

107,908

Disposals

-

-

-

(1

)

(1

)

At 31st December 2024

47,250

320,249

31,345

75,404

474,248

DEPRECIATION

At 1st January 2024

27,263

120,148

14,064

49,692

211,167

Charge for year

6,000

60,250

4,702

23,996

94,948

At 31st December 2024

33,263

180,398

18,766

73,688

306,115

NET BOOK VALUE

At 31st December 2024

13,987

139,851

12,579

1,716

168,133

At 31st December 2023

19,987

92,193

17,281

25,713

155,174

Fixed assets, included in the above, which are held under finance leases are as follows:

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1st January 2024

and 31st December 2024

59,787

56,175

115,962

DEPRECIATION

At 1st January 2024

27,237

36,514

63,751

Charge for year

11,957

11,235

23,192

At 31st December 2024

39,194

47,749

86,943

NET BOOK VALUE

At 31st December 2024

20,593

8,426

29,019

At 31st December 2023

32,550

19,661

52,211

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

£

Trade debtors

225,440

455,824

Other debtors

87,070

84,726

312,510

540,550

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

£

Bank loans and overdrafts

85,406

91,524

Finance leases

9,217

31,287

Trade creditors

643,955

789,716

Amounts owed to participating interests

2,784

105,312

Taxation and social security

27,931

44,814

Other creditors

115,373

613,000

884,666

1,675,653

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/12/24

31/12/23

£

£

Finance leases

-

7,104

9.	SECURED DEBTS

The following secured debts are included within creditors:

31/12/24

31/12/23

£

£

Bank overdrafts

85,406

91,524

Lloyds Bank plc hold a fixed and floating charge over all property and undertakings of the company.

10.	OTHER FINANCIAL COMMITMENTS

The company signed a property lease agreement on 1st October 2020. That lease agreement covered the period from 1 October 2020 to 7 June 2047, with a rent of £189,688 per annum.

Total operating lease commitment as at the balance sheet date was £4,254,222.