Company registration number 11790398 (England and Wales)
THE HOSPITAL FERTILITY GROUP LIMITED
ANNUAL REPORT AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 OCTOBER 2025
PAGES FOR FILING WITH REGISTRAR
THE HOSPITAL FERTILITY GROUP LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 11
THE HOSPITAL FERTILITY GROUP LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2025
31 October 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
4
250
13,940
Tangible assets
5
2,699,701
2,361,947
2,699,951
2,375,887
Current assets
Stocks
119,989
121,683
Debtors
6
371,467
431,377
Cash at bank and in hand
81,916
85,866
573,372
638,926
Creditors: amounts falling due within one year
7
(812,561)
(550,384)
Net current (liabilities)/assets
(239,189)
88,542
Total assets less current liabilities
2,460,762
2,464,429
Creditors: amounts falling due after more than one year
8
(5,792,012)
(4,769,936)
Provisions for liabilities
(66,395)
-
0
Net liabilities
(3,397,645)
(2,305,507)
Capital and reserves
Called up share capital
7,052
7,052
Share premium account
738,677
738,677
Profit and loss reserves
(4,143,374)
(3,051,236)
Total equity
(3,397,645)
(2,305,507)

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 20 May 2026 and are signed on its behalf by:
K Ahuja
N Macklon
Director
Director
Company Registration No. 11790398
THE HOSPITAL FERTILITY GROUP LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2025
- 2 -
Share capital
Share premium account
Profit and loss reserves
Total
£
£
£
£
Balance at 1 November 2023
7,052
738,677
(1,649,793)
(904,064)
Year ended 31 October 2024:
Loss and total comprehensive income for the year
-
-
(1,401,443)
(1,401,443)
Balance at 31 October 2024
7,052
738,677
(3,051,236)
(2,305,507)
Year ended 31 October 2025:
Loss and total comprehensive income for the year
-
-
(1,092,138)
(1,092,138)
Balance at 31 October 2025
7,052
738,677
(4,143,374)
(3,397,645)
THE HOSPITAL FERTILITY GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
- 3 -
1
Accounting policies
Company information

The Hospital Fertility Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is 113-115 Harley Street, London, W1G 6AP.

1.1
Basis of preparation

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.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. T he company has therefore taken advantage of e xemptions from the following disclosure requirements:

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

- Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;

- Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

The financial statements of the company are consolidated in the financial statements of J D Healthcare Limited. These consolidated financial statements are available from its registered office, 113-115 Harley Street, London, W1G 6AP.

THE HOSPITAL FERTILITY GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
1
Accounting policies
(Continued)
- 4 -
1.2
Going concern

The financial statements have been prepared on a going concern basis.true

The company incurred a loss for the year of £1,092,138 (2024: £1,401,443) and, as at the balance sheet date, had net liabilities of £3,397,645 (2024: £2,305,507). These conditions indicate the existence of a material uncertainty which may cast significant doubt on the company’s ability to continue as a going concern.

The company is part of the J D Healthcare Limited group of companies. The directors have prepared forecasts for a period of at least 12 months from the date of approval of these financial statements which indicate that the company will require continued financial support from its parent undertaking in order to meet its liabilities as they fall due.

The directors have received confirmation from the ultimate parent company, J D Healthcare Limited, that it will continue to provide financial support to the company for a period of at least 12 months from the date of approval of these financial statements. On this basis, the directors have a reasonable expectation that the company will have adequate resources to continue in operational existence for the foreseeable future.

Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements. The financial statements do not include any adjustments that would result if the company were unable to continue as a going concern.

1.3
Turnover

Turnover represents revenue from the sale of medical facilities and services, along with the revenue from contracts for the storage of gametes.

Revenue from the sale of medical facilities and services is recognised when the significant risks and rewards of the services has passed to the buyer, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the storage of gametes is recognised by reference to the period of storage.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation 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:

Website and software
3 years straight line
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.

THE HOSPITAL FERTILITY GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
1
Accounting policies
(Continued)
- 5 -

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 land and buildings
Over the length of the lease
Plant and equipment
10 years straight line
Fixtures and fittings
10 years straight line
Computers
3 years straight line
Artwork
10 years straight line

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.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible 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.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Stocks

Stocks are stated at the lower of cost and net realisable value and are consumable items utilised during procedures.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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.

THE HOSPITAL FERTILITY GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
1
Accounting policies
(Continued)
- 6 -
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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.

THE HOSPITAL FERTILITY GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
1
Accounting policies
(Continued)
- 7 -
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.

Group relief

Where group relief is claimed, the claimant company pays to the surr e nd er ing company an amount equal to the corporation tax saved.

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.

THE HOSPITAL FERTILITY GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
1
Accounting policies
(Continued)
- 8 -
1.14
Leases
As lessee

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.

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.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Debtor recoverability

At the balance sheet date, the directors consider the recoverability of the amounts owed to the company utilising post balance sheet information where available. Where balances are not considered recoverable appropriate provisions are made.

With regard to trade debtors, determining the recoverability of debtors requires an estimation of the average time period that self-funded debtors will pay. The directors consider the likelihood of recoverability based on the age of the outstanding invoices.

3
Employees

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

2025
2024
Number
Number
Total
0
6
THE HOSPITAL FERTILITY GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 9 -
4
Intangible fixed assets
Other
£
Cost
At 1 November 2024 and 31 October 2025
148,535
Amortisation and impairment
At 1 November 2024
134,595
Amortisation charged for the year
13,690
At 31 October 2025
148,285
Carrying amount
At 31 October 2025
250
At 31 October 2024
13,940
5
Tangible fixed assets
Land and buildings
Plant and machinery etc
Artwork
Total
£
£
£
£
Cost
At 1 November 2024
1,831,773
1,480,836
-
0
3,312,609
Additions
513,591
280,387
2,200
796,178
At 31 October 2025
2,345,364
1,761,223
2,200
4,108,787
Depreciation and impairment
At 1 November 2024
580,070
370,592
-
0
950,662
Depreciation charged in the year
281,104
177,219
101
458,424
At 31 October 2025
861,174
547,811
101
1,409,086
Carrying amount
At 31 October 2025
1,484,190
1,213,412
2,099
2,699,701
At 31 October 2024
1,251,703
1,110,244
-
0
2,361,947
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
172,260
233,272
Corporation tax recoverable
7,019
-
0
Other debtors
192,188
198,105
371,467
431,377
THE HOSPITAL FERTILITY GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 10 -
7
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
514,206
253,839
Other creditors
298,355
296,545
812,561
550,384
8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
5,792,012
4,769,936

Included in creditors due in over one year is an amount of £6,202,059 (2024: £4,769,936) due to the parent company. This loan is interest bearing at the Bank of England base rate, and is due for repayment in 5 years.

9
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 October 2025 and of its loss for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Senior Statutory Auditor:
Carol Cheesman
Statutory Auditor:
Cheesmans
Date of audit report:
20 May 2026
10
Financial commitments, guarantees and contingent liabilities

There is a fixed and floating charge between the companies of the J D Healthcare Group under the terms of which amounts due to HSBC Bank Plc are secured on the assets of all group companies. There have been no instances in the year or to date whereby the obligations under this debenture have been breached and therefore this debenture is not currently enforceable.

The c ompany participates in a cross guarantee with other companies in the group and associated companies. There is a composite company unlimited multilateral guarantee between J D Healthcare Limited, The Bridge Centre Limited and HSBC Bank Plc whereby amounts due to and from HSBC Bank Plc can be offset.

11
Operating lease commitments
As lessee
THE HOSPITAL FERTILITY GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
11
Operating lease commitments
(Continued)
- 11 -

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

2025
2024
£
£
Total commitments
2,998,158
723,629
12
Related party transactions

The company has taken advantage of the exemptions available whereby it has not disclosed transactions with the parent company, the ultimate parent company, or any wholly owned subsidiary undertakings of the group.

13
Ultimate parent company

The parent company of The Hospital Fertility Group Limited is Harley Street Women's Clinic Limited. The registered office is 113-115 Harley Street, London, W1G 6AP.

The ultimate parent of the company of The Hospital Fertility Group Limited is JD Healthcare Limited. The registered office is 113-115 Harley Street, London, W1G 6AP.

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