Fusion Implants Ltd iXBRL

Fusion Implants Ltd

Unaudited Financial Statements

for the financial year ended 30 June 2025

Fusion Implants Ltd

DIRECTORS AND OTHER INFORMATION


Directors	Dr Daniel Jones
	Mr Benjamin Walton
	Dr Paul Higham


Company Registration Number	08437560


Registered Office and Business Address	131 Liverpool Science Park
	Mount Pleasant
	Liverpool
	L3 5TF
	United Kingdom


Bankers	HSBC
	99 - 101 Lord Street
	Liverpool
	L2 6PG

Fusion Implants Ltd

Company Registration Number: 08437560

BALANCE SHEET

as at 30 June 2025

		2025	2024
	Notes	£	£

Fixed Assets

Intangible assets

833

Tangible assets

61,314

18,549

─────────

Fixed Assets

61,314

19,382

─────────

Current Assets

Stocks

204,273

134,373

Debtors

137,499

120,249

Cash and cash equivalents

28,230

7,027

─────────

370,002

261,649

─────────

Creditors: amounts falling due within one year

(216,571)

(131,708)

─────────

Net Current Assets

153,431

129,941

─────────

Total Assets less Current Liabilities

214,745

149,323

Creditors:

amounts falling due after more than one year

(50,000)

(57,832)

─────────

Net Assets

164,745

91,491

═════════

Capital and Reserves

Called up share capital

Share premium account

40,006

40,006

Retained earnings

124,734

51,480

─────────

Equity attributable to owners of the company

164,745

91,491

═════════

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).

The company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Directors' Report.

For the financial year ended 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.

Approved by the Board and authorised for issue on 23 October 2025 and signed on its behalf by



Dr Daniel Jones
Director

Fusion Implants Ltd

NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 30 June 2025

General Information

Fusion Implants Ltd is a company limited by shares incorporated and registered in the United Kingdom. The registered number of the company is 08437560. The registered office of the company is 131 Liverpool Science Park, Mount Pleasant, Liverpool, L3 5TF, United Kingdom which is also the principal place of business of the company. The principal activity of the company continued to be the manufacture and distribution of medical veterinary instruments and supplies. The financial statements have been presented in Pound (£) which is also the functional currency of the company.

Summary of Significant Accounting Policies

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.

Statement of compliance

The financial statements of the company for the financial year ended 30 June 2025 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.

Turnover

Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.

Sale of Goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied;

* the Company has transferred significant risks and rewards of ownership to the buyer;

* the Company retains neither managerial involvement to the degree usually associated with ownership

nor effective control over the goods sold;

* the amount of revenue can be measured reliably;

* it is probable that the Company will receive the consideration due under the transaction; and

* the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Training courses

* Event income is recognised once the event is held.

Patents

Patents are valued at cost less accumulated amortisation.

Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful life of 2 years.

Tangible assets and depreciation

Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:

Plant and machinery

20% - 33.3% Straight line

Fixtures, fittings and equipment

20% Straight line

Computer equipment

20% Straight line

The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Stocks

Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Borrowing costs

Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Employee benefits

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.

Taxation and deferred taxation

Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements.

Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.

Government grants

Capital grants received and receivable are treated as deferred income and amortised to the Profit and Loss Account annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the Profit and Loss Account when received.

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.

Research and development

Development expenditure is written off to the Profit and Loss Account in the financial year in which it is incurred.

Financial Instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Ordinary share capital

The ordinary share capital of the company is presented as equity.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the

directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Employees

The average monthly number of employees, including directors, during the financial year was 5, (2024 - 5).


5.	Intangible assets

		Patents	Total
		£	£
	Cost
	At 1 July 2024	11,336	11,336
		─────────	─────────

	At 30 June 2025	11,336	11,336
		─────────	─────────
	Amortisation
	At 1 July 2024	10,503	10,503
	Charge for financial year	833	833
		─────────	─────────
	At 30 June 2025	11,336	11,336
		─────────	─────────
	Net book value
	At 30 June 2025	-	-
		═════════	═════════
	At 30 June 2024	833	833
		═════════	═════════


6.	Tangible assets
		Plant and machinery	Fixtures, fittings and equipment	Computer equipment	Total


		£	£	£	£
	Cost
	At 1 July 2024	23,343	5,663	27,635	56,641
	Additions	48,528	-	17,402	65,930
		─────────	─────────	─────────	─────────
	At 30 June 2025	71,871	5,663	45,037	122,571
		─────────	─────────	─────────	─────────
	Depreciation
	At 1 July 2024	18,079	2,689	17,324	38,092
	Charge for the financial year	11,290	744	11,131	23,165
		─────────	─────────	─────────	─────────
	At 30 June 2025	29,369	3,433	28,455	61,257
		─────────	─────────	─────────	─────────
	Net book value
	At 30 June 2025	42,502	2,230	16,582	61,314
		═════════	═════════	═════════	═════════
	At 30 June 2024	5,264	2,974	10,311	18,549
		═════════	═════════	═════════	═════════


7.	Stocks	2025	2024
		£	£

	Finished goods and goods for resale	204,273	134,373
		═════════	═════════

	The replacement cost of stock did not differ significantly from the figures shown.


8.	Debtors	2025	2024
		£	£

	Trade debtors	79,511	64,138
	Other debtors	-	20,519
	Taxation (Note 11)	34,955	19,945
	Prepayments and accrued income	23,033	15,647
		─────────	─────────
		137,499	120,249
		═════════	═════════

	Trade debtors are recoverable in accordance with standard commercial terms. Taxation is recoverable in accordance with the statutory provisions.

Creditors

2025

2024

Amounts falling due within one year

Bank loan

7,704

8,096

Trade creditors

105,581

92,000

Taxation (Note 11)

41,725

22,779

Directors' current accounts

45,459

Accruals:

Pension accrual

1,908

1,287

Other accruals

14,194

7,546

─────────

216,571

131,708

═════════

Trade creditors and accruals are payable in accordance with standard commercial credit terms.

Taxation is payable in accordance with the statutory provisions.

10.

Creditors

2025

2024

Amounts falling due after more than one year

Bank loan

7,832

Other creditors

50,000

50,000

─────────

50,000

57,832

═════════

Bank loans

Repayable in one year or less, or on demand (Note 9)

7,704

8,096

Repayable between one and two years

7,832

─────────

7,704

15,928

═════════

Included within other creditors are loan notes of £50,000 that are repayable in the sum of £16,666 to each of the majority share holders, the loans provided are interest free with no fixed repayable date.

11.

Taxation

2025

2024

Debtors:

Corporation tax

34,955

19,945

═════════

Creditors:

VAT

34,878

17,554

PAYE / NI

6,847

5,225

─────────

41,725

22,779

═════════

The company has estimated tax losses of £80,734 (2024: £122,103) available for carry forward against future trading profits. Additionally, the company has unused tax credits to carry forward of £nil (2024: £1,265).

The refund in corporation tax is due to research and development tax credits.

12.

Reserves

Share Premium Reserve

The amount carried forward is the premium that arose from a management buy out in 2023.

13.

Capital commitments

The company had no material capital commitments at the financial year-ended 30 June 2025.

14.

Post-Balance Sheet Events

There have been no significant events affecting the company since the financial year-end.