REGISTERED NUMBER: 06586193 (England and Wales)

ELGAR HEALTHCARE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Dr M Ahmed

Dr K Butt

REGISTERED OFFICE:

Grey Gable Surgery

High Street

Inkberrow

Worcester

Worcestershire

WR7 4BW

REGISTERED NUMBER:

06586193 (England and Wales)

ACCOUNTANTS:

TCA (Shrewsbury) LLP

Third Floor

21 St Mary's Street

Shrewsbury

Shropshire

SY1 1ED

FIXED ASSETS

Tangible assets

4

15,380

20,865

CURRENT ASSETS

Stocks

5

45,739

41,089

Debtors

6

262,194

232,424

Cash at bank

146,118

505,944

454,051

779,457

CREDITORS

Amounts falling due within one year

7

304,179

307,950

NET CURRENT ASSETS

149,872

471,507

TOTAL ASSETS LESS CURRENT LIABILITIES

165,252

492,372

PROVISIONS FOR LIABILITIES

3,306

3,350

NET ASSETS

161,946

489,022

CAPITAL AND RESERVES

Called up share capital

12

18

Share premium

42

63

Capital redemption reserve

105,121

105,094

Retained earnings

56,771

383,847

SHAREHOLDERS' FUNDS

161,946

489,022

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2025 and were signed on its behalf by:

Dr M Ahmed - Director

1.	STATUTORY INFORMATION

Elgar Healthcare Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number is 06586193 and registered office address is:

Grey Gable Surgery

High Street

Inkberrow

Worcester

Worcestershire

WR7 4BW

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.

Tangible fixed assets

Tangible assets are stated at cost less accumulated depreciation and impairment losses. Costs include costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at the fallowing annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

10 % on cost

Fixtures and fittings

-

25% on reducing balance

Equipment

-

25% on reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and will be recognised in the Statement of comprehensive income.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are

measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Pensions

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. The company also pays into the NHS pension scheme for some of its employees. Contributions are paid at an agreed rate determined by the scheme. Once the contributions have been paid, the Company has no further payment obligations.

The contributions are recognised as an expense in the Profit and loss account when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Interest income

Interest income is recognised in the Profit and loss account using the effective interest method.

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance sheet.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2024 - 27 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

property

fittings

Equipment

Totals

£

£

£

£

COST

At 1 April 2024

10,775

40,635

8,000

59,410

Additions

-

3,382

-

3,382

Grants

-

(3,382

)

-

(3,382

)

At 31 March 2025

10,775

40,635

8,000

59,410

DEPRECIATION

At 1 April 2024

7,539

25,307

5,699

38,545

Charge for year

1,077

3,832

576

5,485

At 31 March 2025

8,616

29,139

6,275

44,030

NET BOOK VALUE

At 31 March 2025

2,159

11,496

1,725

15,380

At 31 March 2024

3,236

15,328

2,301

20,865

5.

STOCKS

2025

2024

£

£

Stocks

45,739

41,089

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

10,758

9,688

Other debtors

241,236

205,797

Directors' loan accounts

10,200

-

VAT

-

16,939

262,194

232,424

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

183,912

171,005

Corporation tax

49,454

5,802

Social security and other taxes

22,472

56,537

VAT

827

-

Other creditors

36,745

67,309

Pension

10,769

7,297

304,179

307,950

8.	FINANCIAL INSTRUMENTS

2025

2024

£

£

Financial assets

Financial assets measured at fair value through profit or loss

146,118

505,942

Financial assets that are debt instruments measured at amortised cost

262,194

232,424

408,312

738,366

Financial liabilities

Financial liabilities measured at amortised cost

(221,484

)

(238,312

)

(221,484

)

(238,312

)

Financial assets measured at fair value through profit or loss compromised the cash at bank.

Financial assets measured at amortised cost compromise trade debtors and other debtors.

Financial liabilities measured at amortised cost comprise trade and other creditors and accruals.

9.	LEASE COMMITMENT

Annual commitment of £105,970 (2024: £105,970) for property rent.