Ultracardiac Ltd

Contents

Statement of Financial Position	1 to 2
Notes to the Unaudited Financial Statements	3 to 9

Ultracardiac Ltd

(Registration number: 09182591)
Statement of Financial Position as at 31 August 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	423,004	373,778
Current assets
Debtors	5	211,113	85,258
Cash at bank and in hand		3,373	56,451
		214,486	141,709
Creditors: Amounts falling due within one year	6	(208,553)	(182,478)
Net current assets/(liabilities)		5,933	(40,769)
Total assets less current liabilities		428,937	333,009
Creditors: Amounts falling due after more than one year	6	(183,312)	(101,229)
Provisions for liabilities		(107,894)	(66,095)
Net assets		137,731	165,685
Capital and reserves
Called up share capital		200	200
Profit and loss account		137,531	165,485
Shareholders' funds		137,731	165,685

For the financial year ending 31 August 2025 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 15 December 2025 and signed on its behalf by:
 

Ultracardiac Ltd

(Registration number: 09182591)
Statement of Financial Position as at 31 August 2025 (continued)

Mr S Gundry Director

Mrs S Gundry Director

Approved and authorised by the Board on 15 December 2025 and signed on its behalf by:
 

......................................... Mr S Gundry Director

......................................... Mrs S Gundry Director

Ultracardiac Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
C/O Westcotts (Sw) LLP
Plym House, 3 Longbridge Road
Mash Mills
Plymouth
Devon
PL6 8LT

Principal activity

The principal activity of the company is that of a cardiology services provider.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Ultracardiac Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025 (continued)

2	Accounting policies (continued)

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.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Improvements to property	2% straight line
Plant and machinery	25% straight line

Ultracardiac Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025 (continued)

2	Accounting policies (continued)

Computer equipment	25% straight line
Fixtures and fittings	25% straight line

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.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Provisions

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the statement of comprehensive income and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Ultracardiac Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025 (continued)

2	Accounting policies (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes 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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 33 (2024 - 20).

Ultracardiac Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025 (continued)

4	Tangible assets

	Improvements to property £	Fixtures and fittings £	Plant and machinery £	Computer equipment £	Total £
Cost or valuation
At 1 September 2024	35,425	143,070	642,685	27,669	848,849
Additions	-	2,117	190,209	5,154	197,480
At 31 August 2025	35,425	145,187	832,894	32,823	1,046,329
Depreciation
At 1 September 2024	4,252	64,535	387,250	19,034	475,071
Charge for the year	708	31,600	110,581	5,365	148,254
At 31 August 2025	4,960	96,135	497,831	24,399	623,325
Carrying amount
At 31 August 2025	30,465	49,052	335,063	8,424	423,004
At 31 August 2024	31,173	78,535	255,435	8,635	373,778

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

	Plant and machinery £
Cost or valuation
At 1 September 2024	606,905
Additions	188,522
At 31 August 2025	795,427
Depreciation
At 1 September 2024	362,967
Charge for the year	107,995
At 31 August 2025	470,962
Carrying amount
At 31 August 2025	324,465
At 31 August 2024	243,938

Ultracardiac Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025 (continued)

5

Debtors

	2025 £	2024 £
Trade debtors	192,152	85,258
Amounts owed by related parties	18,961	-
	211,113	85,258

6

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Loans and borrowings	91,566	49,133
Trade creditors	48,140	68,141
Taxation and social security	52,554	58,398
Accruals and deferred income	3,000	-
Other creditors	13,293	6,806
	208,553	182,478

Creditors: amounts falling due after more than one year

	2025 £	2024 £
Loans and borrowings	183,312	101,229

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

Ultracardiac Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025 (continued)

8	Related party transactions

Transactions with directors

During the year the directors entered into the following advances and credits with the company:

2024	At 1 September 2023 £	Advances to director £	Repayments by director £	At 31 August 2024 £
Directors	(1,826)	162,941	(162,661)	(1,546)

2025	At 1 September 2024 £	Advances to director £	Repayments by director £	At 31 August 2025 £
Directors	(1,546)	209,524	(210,088)	(2,110)