Curtis Medical Investments Limited 31/12/2024 iXBRL

Company registration number: 03135599

Curtis Medical Investments Limited

Unaudited filleted financial statements

31 December 2024

Curtis Medical Investments Limited

Contents

Directors and other information

Accountants report

Statement of financial position

Statement of changes in equity

Notes to the financial statements

Curtis Medical Investments Limited

Directors and other information


Directors	Mr J J Hill
	Mr M W Seaman-Hill
	Mrs K M A Hill
	Mr G V Penasa	(Resigned 22 July 2024)


Company number	03135599


Registered office	First Floor Offices
	99 Bancroft
	Hitchin
	Hertfordshire
	SG5 1NQ


Accountants	Hicks and Company
	Chartered accountants
	First Floor
	99 Bancroft
	Hitchin
	Hertfordshire
	SG5 1NQ




	Bankers	Weatherbys Bank Limited
		Sanders Road
		Wellingborough
		Northamptonshire
		NN8 4BX

Curtis Medical Investments Limited

Chartered accountants report to the board of directors on the preparation of the

unaudited statutory financial statements of Curtis Medical Investments Limited

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 financial statements of Curtis Medical Investments Limited for the year ended 31 December 2024 which comprise the statement of financial position, statement of changes in equity and related notes 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 http://www.icaew.com /en/members/regulations-standards-and-guidance/.

This report is made solely to the board of directors of Curtis Medical Investments Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Curtis Medical Investments Limited and state those matters that we have agreed to state to the board of directors of Curtis Medical Investments Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Curtis Medical Investments Limited and its board of directors as a body for our work or for this report.

It is your duty to ensure that Curtis Medical Investments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Curtis Medical Investments Limited. You consider that Curtis Medical Investments Limited 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 financial statements of Curtis Medical Investments Limited. 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 financial statements.

Hicks and Company

Chartered accountants

First Floor

99 Bancroft

Hitchin

Hertfordshire

SG5 1NQ

30 September 2025

Curtis Medical Investments Limited

Statement of financial position

31 December 2024

		2024		2023
	Note	£	£	£	£

Fixed assets
Tangible assets	5	19,049,096		20,004,791
Investments	6	50		426,073
		_________		_________
			19,049,146		20,430,864

Current assets
Debtors	7	3,173,236		584,665
Cash at bank and in hand		1,252,313		648,932
		_________		_________
		4,425,549		1,233,597
Creditors: amounts falling due
within one year	8	( 1,001,519)		( 1,294,832)
		_________		_________
Net current assets/(liabilities)			3,424,030		( 61,235)
			_________		_________
Total assets less current liabilities			22,473,176		20,369,629

Creditors: amounts falling due
after more than one year	9		( 1,496,193)		-

Provisions for liabilities			( 920,994)		( 987,848)

			_________		_________
Net assets			20,055,989		19,381,781
			_________		_________

Capital and reserves
Called up share capital			104		104
Fair value reserve			8,050,465		9,156,228
Profit and loss account			12,005,420		10,225,449
			_________		_________
Shareholders funds			20,055,989		19,381,781
			_________		_________

For the year 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 year in question in accordance with section 476;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 30 September 2025 , and are signed on behalf of the board by:

Mr J J Hill

Director

Company registration number: 03135599

Curtis Medical Investments Limited

Statement of changes in equity

Year ended 31 December 2024

	Called up share capital	Fair value reserve	Profit and loss account	Total
	£	£	£	£


At 1 January 2023	100	10,643,118	9,558,360	20,201,578

Profit/(loss) for the year			( 403,801)	( 403,801)
Other comprehensive income for the year:
Fair value adjustment of fixed assets	-	( 1,463,304)	1,463,304	-
Tax relating to components of other comprehensive income		( 23,586)	23,586	-
	_________	_________	_________	_________
Total comprehensive income for the year	-	( 1,486,890)	1,083,089	( 403,801)

Issue of shares	4			4
Dividends paid and payable			( 416,000)	( 416,000)
	_________	_________	_________	_________
Total investments by and distributions to owners	4	-	( 416,000)	( 415,996)

	_________	_________	_________	_________
At 31 December 2023 and 1 January 2024	104	9,156,228	10,225,449	19,381,781

Profit/(loss) for the year			1,090,208	1,090,208
Other comprehensive income for the year:
Fair value adjustment of fixed assets	-	( 1,172,617)	1,172,617	-
Tax relating to components of other comprehensive income		66,854	( 66,854)	-
	_________	_________	_________	_________
Total comprehensive income for the year	-	( 1,105,763)	2,195,971	1,090,208

Dividends paid and payable			( 416,000)	( 416,000)
	_________	_________	_________	_________
Total investments by and distributions to owners	-	-	( 416,000)	( 416,000)

	_________	_________	_________	_________
At 31 December 2024	104	8,050,465	12,005,420	20,055,989
	_________	_________	_________	_________

Curtis Medical Investments 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 & Wales. The address of the registered office is First Floor Offices, 99 Bancroft, Hitchin, Hertfordshire, SG5 1NQ.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of investment properties and other investments measured at fair value through profit or loss.The financial statements are prepared in sterling, which is the functional currency of the entity.

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.

Turnover

Turnover represents the rents of properties and recharged expenses which are included on an accruals basis excluding value added tax on properties where option to tax has been granted by HM Revenue & Customs.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.

Operating leases

Payments made under operating leases are charged to profit or loss on a straight line basis .

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

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:


Furniture, fixtures and fittings	-	20 %	straight line

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

Investment property

Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Fixed asset investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment

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. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 4 (2023: 4 ).

5. Tangible assets

	Freehold investments properties	Furniture, fixtures and fittings	Total
	£	£	£
Cost
At 1 January 2024	20,003,285	459,255	20,462,540
Additions	1,244,305	-	1,244,305
Disposals	( 2,200,000)	-	( 2,200,000)
	_________	_________	_________
At 31 December 2024	19,047,590	459,255	19,506,845
	_________	_________	_________
Depreciation
At 1 January 2024 and 31 December 2024	-	457,749	457,749
	_________	_________	_________
Carrying amount
At 31 December 2024	19,047,590	1,506	19,049,096
	_________	_________	_________
At 31 December 2023	20,003,285	1,506	20,004,791
	_________	_________	_________

Investment property

The fair value of the freehold investment properties has been arrived at on the basis of valuations carried out by the directors of the company. The valuations were made on an open market value basis for existing use on 31 December 2024.

Tangible assets held at valuation

In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:


	Freehold investment properties	Total
	£	£
At 31 December 2024
Aggregate cost	10,076,421	10,076,421
Aggregate depreciation	-	-
	_________	_________
Carrying amount	10,076,421	10,076,421
	_________	_________

At 31 December 2023
Aggregate cost	10,230,549	10,230,549
Aggregate depreciation	-	-
	_________	_________
Carrying amount	10,230,549	10,230,549
	_________	_________

6. Investments

	Shares in group undertakings and participating interests	Other investments other than loans	Total
	£	£	£
Cost
At 1 January 2024	50	426,023	426,073
Disposals	-	( 426,023)	( 426,023)
	_________	_________	_________
At 31 December 2024	50	-	50
	_________	_________	_________
Impairment
At 1 January 2024 and 31 December 2024	-	-	-
	_________	_________	_________
Carrying amount
At 31 December 2024	50	-	50
	_________	_________	_________
At 31 December 2023	50	426,023	426,073
	_________	_________	_________

Investments held at valuation

In respect of investments held at valuation, the comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:

	Other investments other than loans	Total
	£	£
At 31 December 2024
Aggregate cost	-	-
Aggregate depreciation	-	-
	_________	_________
Carrying amount	-	-
	_________	_________

At 31 December 2023
Aggregate cost	54,972	54,972
Aggregate depreciation	-	-
	_________	_________
Carrying amount	54,972	54,972
	_________	_________

The fair value of quoted investments is the market price in an active market on 31 December 2023.

Investments in group undertakings
	Registered office	Class of share	Percentage of shares held

Participating interest
CMI (Letchworth) Limited	First Floor Offices 99 Bancroft Hitchin Hertfordshire SG5 1NQ	Ordinary Shares	50

The results and capital and reserves for the year are as follows:


		Capital and		Profit/(loss)
		reserves		for the
				year
	2024	2023	2024	2023
	£	£	£	£

Participating interest
CMI (Letchworth) Limited	189,110	144,856	44,254	(357,036)

7. Debtors

	2024	2023
	£	£
Rent and insurance arrears	8,694	146,574
Amounts owed by participating interest	11,000	18,000
Amounts owed by connected company	3,040,000	-
Other debtors	113,542	420,091
	_________	_________
	3,173,236	584,665
	_________	_________

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loan (secured)	67,651	721,480
Rent and insurance received in advance	369,772	164,212
Corporation tax	422,000	333,094
Social security and other taxes	-	37,499
Other creditors	142,096	38,547
	_________	_________
	1,001,519	1,294,832
	_________	_________

The bank loan is secured by a first charge over certain freehold investment properties.

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

	2024	2023
	£	£
Bank loan (secured)	1,496,193	-
	_________	_________

The bank loan is secured by a first charge over certain freehold investment properties.

10. Operating leases

The company as lessee

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


	£	£

Later than 1 year and not later than 5 years	8,558	19,968
	_________	_________

11. Related party transactions

During the year the company entered into the following transactions with a company in which certain directors had an interest:

	Transaction value
	2024	2023
	£	£
John Shilcock Limited - Rent collection fees	33,375	30,000
John Shilcock Limited - Building and surveying fees	77,875	70,000
John Shilcock Limited - Professional fees	6,000	6,000
	_________	_________