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Registered number: 10282577 HEART CELLS COMPANY LIMITED UNAUDITED DIRECTORS' REPORT AND FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 DECEMBER 2024
HEART CELLS COMPANY LIMITED COMPANY INFORMATION
Directors | M Clasper
| S M James
| Prof A Mathur
| J Rosenberg
| M N Waiman
| J M Mcilroy
| W M Channon
| P Rambech
| M T Rothman
Registered number | 10282577
Registered office | 14th Floor
| 33 Cavendish Square
| London
| W1G 0PW
Accountants | Simmons Gainsford Professional Services Limited
| Chartered Accountants
| 14th Floor
| 33 Cavendish Square
| London
| W1G 0PW
HEART CELLS COMPANY LIMITED CONTENTS
| Page
Directors' report | 1 - 2
Statement of comprehensive income | 3
Balance sheet | 4
Notes to the financial statements | 5 - 6
HEART CELLS COMPANY LIMITED DIRECTORS' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Directors present their report and the financial statements for the year ended 31 December 2024.
Directors' responsibilities statement
The Directors are responsible for preparing the 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 of the profit or loss of the Company for that period. In preparing these financial statements, the Directors are required to: ∙select suitable accounting policies for the Company's financial statements 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 to 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.
Principal activity
The principal activity of the company is providing support to the charity Heart Cells Foundation.
Directors
The Directors who served during the year were:
M Clasper
S M James
Prof A Mathur
J Rosenberg
M N Waiman
J M Mcilroy
W M Channon
P Rambech
M T Rothman
Page 1
HEART CELLS COMPANY LIMITED DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
Small companies note
In preparing this report, the Directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006. This report was approved by the board on 14 November 2025 and signed on its behalf.
S M James Directors
Page 2
HEART CELLS COMPANY LIMITED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2024
| 2024 | 2023
| £ | £
Administrative expenses |  | (30,218) | (8,775)
Operating loss |  | (30,218) | (8,775)
Interest payable and similar expenses |  | (1,217) | (1,597)
Loss for the financial year |  | (31,435) | (10,372)
There was no other comprehensive income for 2024 (2023:£NIL).
The notes on pages 5 to 6 form part of these financial statements.
Page 3
HEART CELLS COMPANY LIMITED REGISTERED NUMBER: 10282577 BALANCE SHEET AS AT 31 DECEMBER 2024
|  | 2024 |  | 2023
Note |  | £ |  | £
Current assets |  |  |  |  |
Cash at bank and in hand | 4 | 15,280 |  | 34,611 |
|  | 15,280 |  | 34,611 |
Creditors: amounts falling due within one year | 5 | (103,892) |  | (92,088) |
Net current liabilities |  |  | (88,612) |  | (57,477)
Total assets less current liabilities |  |  | (88,612) |  | (57,477)
Net liabilities |  |  | (88,612) |  | (57,477)
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 1 |  | 1
Profit and loss account |  |  | (88,613) |  | (57,478)
|  |  | (88,612) |  | (57,477)
The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 November 2025.
S M James
Directors
The notes on pages 5 to 6 form part of these financial statements. Page 4
HEART CELLS COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. | General information
Heart Cells Company Limited is a private company limited by share capital, incorporated in England and Wales, registration number 10282577. The address of the registered office is 14th Floor, 33 Cavendish Square, London, W1G 0PW. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied:
| 2.2 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.3 | 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.
| 2.4 | 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.
| 2.5 | Financial instruments
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” 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. Basic financial assets Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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. Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments. Page 5
HEART CELLS COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
3. | Employees
| The average monthly number of employees, including directors, during the year was 9 (2023 - 9).
4. | Cash and cash equivalents
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Cash at bank and in hand | 15,280 | 34,611
5. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade creditors | 1,695 | 5,985
| Other creditors | 95,478 | 80,901
| Accruals and deferred income | 6,719 | 5,202
|  | 103,892 | 92,088
6. | Related party transactions
| The company has taken advantage of the exemption provided in FRS 102 Section 1A from disclosing transactions with members of the same group that are wholly owned.
Page 6