REGISTERED NUMBER: 07341400 (England and Wales)

HEART NETWORKS UK LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Dr W Parkar

Mrs S M Parkar

Miss E C Parkar

Miss H F Parkar

REGISTERED OFFICE:

15 Christie Way

Christie Fields

Manchester

M21 7QY

REGISTERED NUMBER:

07341400 (England and Wales)

ACCOUNTANTS:

Clarke Nicklin LLP

Chartered Accountants

Clarke Nicklin House

Brooks Drive

Cheadle Royal Business Park

Cheadle

Cheshire

SK8 3TD

FIXED ASSETS

Intangible assets

4

17,597

29,187

Tangible assets

5

117,825

76,272

135,422

105,459

CURRENT ASSETS

Debtors

6

166,090

162,570

Cash at bank and in hand

598,327

779,735

764,417

942,305

CREDITORS

Amounts falling due within one year

7

304,523

236,432

NET CURRENT ASSETS

459,894

705,873

TOTAL ASSETS LESS CURRENT LIABILITIES

595,316

811,332

CREDITORS

Amounts falling due after more than one year

8

(27,719

)

(10,508

)

PROVISIONS FOR LIABILITIES

(28,209

)

(19,068

)

NET ASSETS

539,388

781,756

CAPITAL AND RESERVES

Called up share capital

10

1,196

396

Retained earnings

538,192

781,360

SHAREHOLDERS' FUNDS

539,388

781,756

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 December 2025 and were signed on its behalf by:

Dr W Parkar - Director

1.	STATUTORY INFORMATION

Heart Networks UK Limited 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.

Going concern

The directors have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have reached this conclusion giving due consideration to the projected future performance of the company and any potential risk that might impact the company's ability to meet its required solvency levels. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

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

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.

Computer software is being amortised evenly over its estimated useful life of five years.

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.

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

33% on cost

Computer equipment

-

33% 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2024 - 11 ) .

4.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

At 1 July 2024

91,323

Additions

273

At 30 June 2025

91,596

AMORTISATION

At 1 July 2024

62,136

Amortisation for year

11,863

At 30 June 2025

73,999

NET BOOK VALUE

At 30 June 2025

17,597

At 30 June 2024

29,187

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 July 2024

86,624

-

104,419

191,043

Additions

3,516

52,739

36,109

92,364

At 30 June 2025

90,140

52,739

140,528

283,407

DEPRECIATION

At 1 July 2024

44,562

-

70,209

114,771

Charge for year

9,116

12,592

29,103

50,811

At 30 June 2025

53,678

12,592

99,312

165,582

NET BOOK VALUE

At 30 June 2025

36,462

40,147

41,216

117,825

At 30 June 2024

42,062

-

34,210

76,272

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

Additions

52,739

At 30 June 2025

52,739

DEPRECIATION

Charge for year

12,592

At 30 June 2025

12,592

NET BOOK VALUE

At 30 June 2025

40,147

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

166,090

162,570

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

10,508

10,246

Hire purchase contracts

6,958

-

Corporation tax

269,914

213,347

Social security and other taxes

-

2,994

Net wages

2,034

2,047

Other creditors

4,827

845

Directors' current accounts

2,312

48

Accrued expenses

7,970

6,905

304,523

236,432

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 1-2 years

-

10,508

Hire purchase contracts

27,719

-

27,719

10,508

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

10,508

20,754

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

500

Ordinary

£1

500

100

500

Ordinary A

£1

500

100

98

Ordinary B

£1

98

98

98

Ordinary C

£1

98

98

1196

396

The following shares were issued during the year for cash at par:

400 Ordinary Shares of £1

400 Ordinary A Shares of £1

11.	ULTIMATE CONTROLLING PARTY

The controlling party is Dr W Parkar.