ELECTIVA HOSPITALS GLASGOW LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
Company registration number SC419044 (Scotland)
PAGES FOR FILING WITH REGISTRAR
ELECTIVA HOSPITALS GLASGOW LIMITED
COMPANY INFORMATION
Directors
Mr Brian William Welsh
(Appointed 3 June 2025)
Ms Laura McLaughlin
(Appointed 10 December 2025)
Secretary
K Owusu-Ofori
Company number
SC419044
Registered office
154 Clyde Street
Glasgow
Strathclyde
Scotland
G1 4EX
Accountants
Dains
46 Bank Street
Kilmarnock
Ayrshire
KA1 1HA
ELECTIVA HOSPITALS GLASGOW LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
ELECTIVA HOSPITALS GLASGOW LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
31 December 2024
31 March 2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
609,368
816,926
Current assets
Stocks
57,853
57,853
Debtors
5
467,795
470,892
Cash at bank and in hand
6,337
351,905
531,985
880,650
Creditors: amounts falling due within one year
6
(1,728,715)
(1,574,669)
Net current liabilities
(1,196,730)
(694,019)
Total assets less current liabilities
(587,362)
122,907
Creditors: amounts falling due after more than one year
7
(808,208)
(906,575)
Net liabilities
(1,395,570)
(783,668)
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
(1,395,670)
(783,768)
Total equity
(1,395,570)
(783,668)
ELECTIVA HOSPITALS GLASGOW LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -

For the financial period ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 7 January 2026 and are signed on its behalf by:
Mr Brian William Welsh
Director
Company registration number SC419044 (Scotland)
ELECTIVA HOSPITALS GLASGOW LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

Electiva Hospitals Glasgow Limited is a private company limited by shares incorporated in Scotland. The registered office is 154 Clyde Street, Glasgow, Strathclyde, Scotland, G1 4EX.

1.1
Reporting period

These financial statements cover the period from 1 April 2024 to 31 December 2024, whilst the comparative accounts cover the 12-month period to 31 March 2024. This has been done to align these accounts with the groups' reporting periods. As a result of using a shorter period, the amounts presented are not entirely comparable.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Going concern

The company has a net deficit on the balance sheet of £1,395,570. However, the going concern basis of preparation is appropriate as subsequent to the year end, the company was acquired by an external party to continue to support the business.

1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover relates to specialist medical practice activities.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
15% Straight Line
Plant and equipment
25% Reducing Balance
Fixtures and fittings
25% Reducing Balance
Computers
25% Reducing Balance
Equipment - clinical
25% Reducing Balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

ELECTIVA HOSPITALS GLASGOW LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
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.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

ELECTIVA HOSPITALS GLASGOW LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14
Leases
As lessee

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

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.15
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

ELECTIVA HOSPITALS GLASGOW LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 6 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2024
2024
Number
Number
Total
26
25
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Equipment - clinical
Total
£
£
£
£
Cost
At 1 April 2024
1,562,182
136,232
628,412
2,326,826
Additions
-
0
2,558
1,977
4,535
At 31 December 2024
1,562,182
138,790
630,389
2,331,361
Depreciation and impairment
At 1 April 2024
941,646
104,736
463,518
1,509,900
Depreciation charged in the period
174,740
6,229
31,124
212,093
At 31 December 2024
1,116,386
110,965
494,642
1,721,993
Carrying amount
At 31 December 2024
445,796
27,825
135,747
609,368
At 31 March 2024
620,536
31,496
164,894
816,926
ELECTIVA HOSPITALS GLASGOW LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 7 -
5
Debtors
2024
2024
Amounts falling due within one year:
£
£
Trade debtors
383,283
238,610
Other debtors
38,415
188,952
Prepayments and accrued income
46,097
43,330
467,795
470,892
6
Creditors: amounts falling due within one year
2024
2024
£
£
Bank loans and overdrafts
169,545
104,535
Obligations under finance leases
54,053
121,118
Other borrowings
322,879
380,988
Trade creditors
315,277
270,202
Taxation and social security
64,112
47,611
Other creditors
43,537
34,943
Accruals and deferred income
759,312
615,272
1,728,715
1,574,669
7
Creditors: amounts falling due after more than one year
2024
2024
Notes
£
£
Bank loans and overdrafts
39,583
110,833
Obligations under finance leases
4,757
35,479
Other borrowings
763,868
760,263
808,208
906,575

The Royal Bank of Scotland holds a floating charge over all the property or undertakings of the company, in respect of the overdraft facility.

Additionally Adam Preston holds a floating charge over all the property or undertakings of the company, in respect of a loan listed within other borrowings.

8
Called up share capital
2024
2024
2024
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
100
100
100
100
ELECTIVA HOSPITALS GLASGOW LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 8 -
9
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2024
£
£
Total commitments
19,957
77,494
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