The Fetal Medicine Centre Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 03054157

The Fetal Medicine Centre Limited

Filleted Financial Statements

31 March 2025

The Fetal Medicine Centre Limited

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5		15,007	18,759

Current assets

Debtors	6	182,689	179,338
Cash at bank and in hand		72,073	63,134
		---------	---------
		254,762	242,472

Creditors: amounts falling due within one year	7	198,547		186,396
		---------		---------
Net current assets			56,215	56,076
			---------	---------
Total assets less current liabilities			71,222	74,835

Provisions

Taxation including deferred tax	2,534	3,205
	---------	---------
Net assets	68,688	71,630
	---------	---------

Capital and reserves

Called up share capital	2	2
Profit and loss account	68,686	71,628
	---------	---------
Shareholders funds	68,688	71,630
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

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.

These financial statements were approved by the board of directors and authorised for issue on 15 December 2025 , and are signed on behalf of the board by:

Professor K H Nicolaides
Director

Company registration number: 03054157

The Fetal Medicine Centre Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 137 Harley Street, London, W1G 6BG.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

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

Going concern

Based on all available information about the future, the directors consider that there are no material uncertainties that may cause significant doubt about the company's ability to continue as a going concern; covering such period as we consider appropriate. Directors' expectations are based on a business plan prepared for a period of 13 months, from the date of approval of these annual financial statements. Thus, we continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Disclosure exemptions

The company has taken advantage of the following advantage disclosure exemptions in preparing these financial statements by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland": (a) The requirement of Section 7 Statement of Cash Flows; (b) The requirement of paragraph 3.17(d).

Cash and cash equivalents

Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short-term deposits and other short-term liquid investments with original maturities of three months or less that is readily convertible to a known amount of cash and are subject to insignificant risk of changes in values.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Revenue from the provision of services is recognized when the amount can be measured reliably, and it is probable that the associated economic benefits will flow to the entity. Revenue from the rendering of services is measured by reference to the stage of completion of the service render at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognized only to the extent that it is probable the expenses recognized will be recovered.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold property	-	Over the life of the lease
Plant and machinery	-	20% reducing balance
Fixtures, fittings and office equip.	-	20% reducing balance

Impairment of fixed assets

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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

New or revised standards or interpretations

Amendments to FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and other FRSs, Periodic Review 2024.

On 27 March 2024, the FRC issued Amendments to FRS 102. The effective date for most amendments is accounting periods beginning on or after 1 January 2026, with earlier adoption permitted. The Amendments include new disclosures for supplier finance arrangements that are mandatorily effective from 1 January 2025.

The most significant amendments are the replacement of Section 23, now renamed Revenue from Contracts with Customers, and Section 20 Leases. The many other less significant changes, including a new Section 2A Fair Value Measurement, are not currently expected to have a material impact. The new revenue and leasing requirements seek to provide greater consistency and alignment to the international accounting standards, i.e., IFRS 15 and IFRS 16.

The Company is planning for the implementation of this change and is at an early stage in evaluating their financial impact. Under the new lease accounting requirements management expects that these amounts would be recognised on-balance sheet, with a lease liability based on the discounted value of the future commitments, plus payments related to optional extension periods if considered reasonably certain, and a related 'right-of-use' asset. Management is reviewing existing revenue contracts to to determine the overall recognition, measurement, presentation and disclosure impact.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 12 (2024: 11 ).

5. TANGIBLE ASSETS

	Leasehold property	Plant and machinery	Fixtures and fittings	Total
	£	£	£	£
Cost
At 1 April 2024 and 31 March 2025	12,638	265,164	599,075	876,877
	---------	---------	---------	---------
Depreciation
At 1 April 2024	12,638	258,900	586,580	858,118
Charge for the year	–	1,253	2,499	3,752
	---------	---------	---------	---------
At 31 March 2025	12,638	260,153	589,079	861,870
	---------	---------	---------	---------
Carrying amount
At 31 March 2025	–	5,011	9,996	15,007
	---------	---------	---------	---------
At 31 March 2024	–	6,264	12,495	18,759
	---------	---------	---------	---------

6. DEBTORS

	2025	2024
	£	£
Trade debtors	8,556	4,143
Amounts owed by group undertakings and undertakings in which the company has a participating interest	63,996	110,611
Other debtors	110,137	64,584
	---------	---------
	182,689	179,338
	---------	---------

7. CREDITORS: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	152,572	138,684
Social security and other taxes	15,317	14,759
Other creditors	30,658	32,953
	---------	---------
	198,547	186,396
	---------	---------

8. DEFERRED TAX

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions	2,534	3,205
	---------	---------

9. CONTINGENCIES

There were no contingent liabilities, to the knowledge of the directors, which have not been provided for in these financial statements.

10. SUMMARY AUDIT OPINION

The auditor's report dated 15 December 2025 was unqualified .

The senior statutory auditor was Alekos Christofi , for and on behalf of AGK Partners .

11. RELATED PARTY TRANSACTIONS

The Fetal Medicine Centre Limited has entered into a deed of covenant whereby it covenants all its profits to The Fetal Medicine Foundation. The Covenanted payment for the year was £453,000 (2024-£500,887). At 31 March 2025 the Company was owed by its Parent Company £63,996 (2024-£110,611) as shown in note 8 to the Accounts. This balance is interest free and repayable on demand.

12. CONTROLLING PARTY

The company's immediate parent undertaking and controlling party is The Fetal Medicine Foundation, a Registered Charity incorporated in the United Kingdom. The largest and smallest group in which the results of the company are consolidated is that headed by The Fetal Medicine Foundation. The consolidated financial statements of this company are available to the public and may be obtained from company's registered office at 137 Harley Street, London, W1G 6BG.

13. POST BALANCE SHEET EVENTS

There have not been any significant events since the balance sheet date.