FREELANCE SURGICAL LIMITED

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

S R Fletcher

D O Ammann

REGISTERED OFFICE:

Unit 7 Havyatt Business Park

Havyatt Road

Wrington

Somerset

BS40 5PA

REGISTERED NUMBER:

04039065 (England and Wales)

AUDITORS:

Nyman Libson Paul LLP

Chartered Accountants

124 Finchley Road

London

NW3 5JS

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

260,505

273,542

260,505

273,542

CURRENT ASSETS

Stocks

6

1,635,142

1,694,748

Debtors

7

788,891

753,513

Cash at bank

5,369,264

4,190,640

7,793,297

6,638,901

CREDITORS

Amounts falling due within one year

8

885,813

1,153,135

NET CURRENT ASSETS

6,907,484

5,485,766

TOTAL ASSETS LESS CURRENT LIABILITIES

7,167,989

5,759,308

PROVISIONS FOR LIABILITIES

10

63,022

66,543

NET ASSETS

7,104,967

5,692,765

CAPITAL AND RESERVES

Called up share capital

64

64

Capital redemption reserve

36

36

Retained earnings

7,104,867

5,692,665

SHAREHOLDERS' FUNDS

7,104,967

5,692,765

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 April 2026 and were signed on its behalf by:

S R Fletcher - Director

D O Ammann - Director

1.	STATUTORY INFORMATION

Freelance Surgical Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Revenue represents amounts chargeable to clients for goods or professional services provided during the year, net of any sales tax. Where invoices are issued in advance for services, revenue is recognised once that service has been provided. Services to clients, which at the balance sheet date have not been billed, have been recognised as revenue.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold improvements - written off over 15 years on cost

Equipment & fixtures - 25% on reducing balance and 15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

At each reporting date stock is assessed for impairment. If stock is impaired the carrying amount is reduced to selling price less costs to sell. The impairment loss is recognised immediately in profit and loss.

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank, short-term bank deposits with an original maturity of three months or less and bank overdrafts which are an integral part of the company's cash management.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

The accounts have been prepared on the going concern basis. The business is currently profitable, there are no issues relating to cash flow, and it is anticipated that this will continue to be the case for the foreseeable future.

Functional and presentational currency

The company's functional and presentational currency is GBP.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2024 - 17 ) .

4.	INTANGIBLE FIXED ASSETS

Website

£

COST

At 1 January 2025

and 31 December 2025

30,095

AMORTISATION

At 1 January 2025

and 31 December 2025

30,095

NET BOOK VALUE

At 31 December 2025

-

At 31 December 2024

-

5.	TANGIBLE FIXED ASSETS

Leasehold

Equipment

improvements

& fixtures

Totals

£

£

£

COST

At 1 January 2025

96,983

492,237

589,220

Additions

28,079

9,235

37,314

Disposals

-

(87,971

)

(87,971

)

At 31 December 2025

125,062

413,501

538,563

DEPRECIATION

At 1 January 2025

85,361

230,317

315,678

Charge for year

3,660

41,229

44,889

Eliminated on disposal

-

(82,509

)

(82,509

)

At 31 December 2025

89,021

189,037

278,058

NET BOOK VALUE

At 31 December 2025

36,041

224,464

260,505

At 31 December 2024

11,622

261,920

273,542

6.

STOCKS

2025

2024

£

£

Stocks

1,635,142

1,694,748

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

743,782

700,796

Prepayments

45,109

52,717

788,891

753,513

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

310,833

486,960

Tax

213,826

230,028

Social security and other taxes

20,580

19,330

VAT

259,427

270,344

Accruals

81,147

146,473

885,813

1,153,135

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

82,195

71,295

Between one and five years

32,464

76,277

In more than five years

4,928

-

119,587

147,572

10.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

63,022

66,543

Deferred

tax

£

Balance at 1 January 2025

66,543

Credit to Income Statement during year

(3,521

)

Balance at 31 December 2025

63,022

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Hetal Mistry (Senior Statutory Auditor)

for and on behalf of Nyman Libson Paul LLP

12.	RELATED PARTY DISCLOSURES

The company is exempt from disclosing other related party transactions as they are with companies that are wholly owed within the group.

13.	ULTIMATE CONTROLLING PARTY

The company is under the ultimate control of its parent company, Vimian Group AB.

14.	DIRECTORS' EMOLUMENTS

Year ended 31.12.25

Year ended 31.12.24

£

£

Directors' remuneration

113,000

90,000

Directors' pension contributions to money purchase schemes

8,290

3,606