Medical Asset Management Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Medical Asset Management Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11203534 . The registered office is 5th Floor, 167-169 Great Portland Street, London, W1W 5PF.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Office, Studio & Computer Equipment

20.00% Straight Line Basis

2.4. Financial Instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through the Profit and Loss Account, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party. Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

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Medical Asset Management Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

2.5. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.6. Valuation of Investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2024: 2)

4. Tangible Assets

	Office, Studio & Computer Equipment
	£
Cost
As at 1 September 2024	6,272
Additions	1,224

As at 31 August 2025	7,496

Depreciation
As at 1 September 2024	2,979
Provided during the period	1,260

As at 31 August 2025	4,239

Net Book Value
As at 31 August 2025	3,257

As at 1 September 2024	3,293

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Medical Asset Management Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

5. Investments

	Unlisted
	£
Cost or Valuation
As at 1 September 2024	442,775
Additions	134,675

As at 31 August 2025	577,450

Provision
As at 1 September 2024	-

As at 31 August 2025	-

Net Book Value
As at 31 August 2025	577,450

As at 1 September 2024	442,775

The Company invested £134,675 in London Digestive Health Limited during the year.

6. Debtors

	2025	2024
	£	£
Due within one year
Other debtors	6,270	147,672
Due after more than one year
Other debtors	-	5,023

	6,270	152,695

7. Current Asset Investments

	2025	2024
	£	£
Listed investments	548,143	114,452

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Other creditors	466,191	1,089,192

9. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	2	2

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Medical Asset Management Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

10. Directors Advances, Credits and Guarantees

Included within Creditors are the following loans to directors:

	As at 1 September 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 August 2025
	£	£	£	£	£
Dr Jonathan Hoare	555	(79,863 )	80,300	-	992

The above loan is unsecured, interest free and repayable on demand.

11. Reserves

	Fair value reserve	Profit and Loss Account
	£	£
As at 1 September 2024	11,308	40,486
Profit for the year and total comprehensive income	-	1,100,887

Dividends paid	-	(100,000)
Movements in fair value reserve	30,039	-
Transfer to/from Fair value reserve	-	(30,367)

As at 31 August 2025	41,347	1,011,006

12. Related Party Transactions

At the year end, the Company owed £6,228 (2024: £18,684) to a connected entity, ASI London A Clinician LLP.

At the year end, the Company owed £338,527 (2024: £1,082,215) to a connected entity, London Digestive Health Limited.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		3,257		3,293
Investments	5		577,450		442,775

			580,707		446,068
CURRENT ASSETS
Debtors	6	6,270		152,695
Investments	7	548,143		114,452
Cash at bank and in hand		383,426		427,773

		937,839		694,920
Creditors: Amounts Falling Due Within One Year	8	(466,191 )		(1,089,192 )

NET CURRENT ASSETS (LIABILITIES)			471,648		(394,272 )

TOTAL ASSETS LESS CURRENT LIABILITIES			1,052,355		51,796

NET ASSETS			1,052,355		51,796

CAPITAL AND RESERVES
Called up share capital	9		2		2
Fair value reserve	11		41,347		11,308
Profit and Loss Account			1,011,006		40,486

SHAREHOLDERS' FUNDS			1,052,355		51,796