Company registration number 15605924 (England and Wales)
STS MEDICAL LTD
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
STS MEDICAL LTD
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
STS MEDICAL LTD
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
Notes
£
£
Fixed assets
Investments
3
1
Current assets
Debtors
4
545,756
Creditors: amounts falling due within one year
5
(22,550)
Net current assets
523,206
Total assets less current liabilities
523,207
Creditors: amounts falling due after more than one year
6
(676,000)
Net liabilities
(152,793)
Capital and reserves
Called up share capital
20,000
Profit and loss reserves
(172,793)
Total equity
(152,793)

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 3 July 2026 and are signed on its behalf by:
Dr P Agg
Director
Company registration number 15605924 (England and Wales)
STS MEDICAL LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 MARCH 2025
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Period ended 31 March 2025:
Loss and total comprehensive income
-
(172,793)
(172,793)
Issue of share capital
20,000
-
20,000
Balance at 31 March 2025
20,000
(172,793)
(152,793)
STS MEDICAL LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
- 3 -
1
Accounting policies
Company information

STS Medical Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Lanesborough House, The Laurels Business Park, Heol Y Rhosog, Cardiff, United Kingdom, CF3 2EW.

1.1
Reporting period

The financial statements cover the period from 30 March 2024 (date of incorporation) to 31 March 2025. This is the first period of account for the company.

As this is the first set of financial statements prepared by the company, no comparative figures are presented. Consequently, the amounts presented in these financial statements are not directly comparable with any previous period.

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.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.3
Going concern

The company is dependant upon the support of its parent company true, Surface Technology Services B.V., and expect s this support to continue. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of support from its parent company.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.5
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.

STS MEDICAL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
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

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.

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.

1.6
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.

Where shares are deemed to be debt instruments in line with the commercial substance of the arrangements, amounts are recognised as financial liabilities. Preference shares have therefore been recognised within liabilities.

1.7

Related parties

The company has taken advantage of exemption under the terms of Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’, not to disclose related party transactions with wholly owned subsidiaries within the group.

2
Employees

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

2025
Number
Total
0
STS MEDICAL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
- 5 -
3
Fixed asset investments
2025
£
Shares in group undertakings and participating interests
1
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 30 March 2024
-
Additions
1
At 31 March 2025
1
Carrying amount
At 31 March 2025
1

The company holds 100% of the ordinary share capital of AM Surface Technologies L imi t e d, a company incorporated in the United Kingdom.

4
Debtors
2025
Amounts falling due within one year:
£
Other debtors
94,560
2025
Amounts falling due after more than one year:
£
Amounts owed by group undertakings
451,196
Total debtors
545,756

Amounts owed by group undertakings are unsecured, bear interest at 8% per annum, have no fixed date of repayment, are repayable on demand and are not expected to be repaid within 12 months of the balance sheet date.

5
Creditors: amounts falling due within one year
2025
£
Other creditors
22,550
STS MEDICAL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
- 6 -
6
Creditors: amounts falling due after more than one year
2025
£
Other creditors
676,000

Amounts falling due after more than one year include £500,000 in respect of preference shares which are classified as debt and carry a fixed cumulative dividend of 10% per annum.

Also included are £176,000 of shareholder loans which bear interest at 8% per annum, have no fixed date of repayment, are repayable on demand and are not expected to be repaid within 12 months of the balance sheet date.

Finance costs are recognised in the profit and loss account.

7
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 March 2025 and of its loss for the period 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:
Rebecca Hudson
Statutory Auditor:
Azets Audit Services
Date of audit report:
3 July 2026
8
Financial commitments, guarantees and contingent liabilities

As at 31 March 2025, the company had no commitments or guarantees. The company has entered into a share purchase agreement during the year which includes warranties, indemnities and a tax covenant. The directors do not consider it probable that a liability will arise and therefore no provision has been recognised. Any contingent consideration payable under this agreement is not expected to be material.

9
Parent company

The smallest group of which STS Medical Ltd is a member and for which consolidated financial statements are prepared is headed by Surface Technology Services B.V., a company incorporated in the Netherlands and whose principal place of business is Dijkgraaf 40, 6921 RL Duiven, Netherlands. The consolidated financial statements of this group are available to the public from Dijkgraaf 40, 6921 RL Duiven, Netherlands.

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