| Highfield Diagnostics Limited |
| Balance Sheet |
| as at 30 November 2025 |
|
| Notes |
|
|
2025 |
|
|
2024 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
4 |
|
|
96 |
|
|
211 |
|
| Current assets |
| Debtors |
5 |
|
17,652 |
|
|
26,896 |
| Cash at bank and in hand |
|
|
30,727 |
|
|
33,117 |
|
|
|
48,379 |
|
|
60,013 |
|
| Creditors: amounts falling due within one year |
6 |
|
(57,467) |
|
|
(73,441) |
|
|
|
|
|
|
|
|
| Net current liabilities |
|
|
|
(9,088) |
|
|
(13,428) |
|
| Total assets less current liabilities |
|
|
|
(8,992) |
|
|
(13,217) |
|
| Creditors: amounts falling due after more than one year |
7 |
|
|
(370,099) |
|
|
(337,770) |
|
| Net liabilities |
|
|
|
(379,091) |
|
|
(350,987) |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
649 |
|
|
649 |
| Share premium |
|
|
|
99,957 |
|
|
99,957 |
| Other reserve |
8 |
|
|
62,418 |
|
|
62,418 |
| Profit and loss account |
|
|
|
(542,115) |
|
|
(514,011) |
|
| Shareholders' funds |
|
|
|
(379,091) |
|
|
(350,987) |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
| Prof. R W Eason |
| Director |
| Approved by the board on 10 August 2026 |
|
| Company registration number: |
|
|
11071121 |
|
| Highfield Diagnostics Limited |
| Notes to the Accounts |
| for the year ended 30 November 2025 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. |
|
|
Research and development |
|
Research expenditure is written off against profits in the year in which it is incurred. |
|
|
Going concern |
|
At the time of approving the financial statements the directors have assessed the company forecasts and plans for the coming twelve months. The directors have concluded that the science progress made in the period means that anticipated future financing requirements should be achievable and therefore the directors continue to adopt the going concern basis of accounting in preparing the financial statements. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Equipment |
25% straight line |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
Foreign currency translation |
|
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
|
|
Government grants |
|
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. |
|
Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
| 2 |
Profit before taxation |
2025 |
|
2024 |
| £ |
£ |
|
Profit before taxation is stated after charging |
|
|
Depreciation of tangible assets |
115 |
|
114 |
|
|
|
| 3 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company |
1 |
|
1 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery etc |
| £ |
|
Cost |
|
At 1 December 2024 |
458 |
|
At 30 November 2025 |
458 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 December 2024 |
247 |
|
Charge for the year |
115 |
|
At 30 November 2025 |
362 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 November 2025 |
96 |
|
At 30 November 2024 |
211 |
|
|
| 5 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
|
Other debtors |
17,652 |
|
26,896 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade creditors |
8,426 |
|
49,465 |
|
Taxation and social security costs |
4,478 |
|
136 |
|
Other creditors |
44,563 |
|
23,840 |
|
|
|
|
|
|
57,467 |
|
73,441 |
|
|
|
|
|
|
|
|
|
|
Other creditors include £37,159 (2024: £10,000) advanced by directors and shareholders of the company. These loans are interest free and repayable on demand. |
|
| 7 |
Creditors: amounts falling due after one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Other creditors |
370,099 |
|
337,770 |
|
|
|
|
|
|
|
|
|
|
During the year, convertible loan notes of £Nil (2024: 62,500) were issued, with an interest rate of 10% and an option to convert to equity. |
|
The net proceeds received from the issue of the convertible loan notes were split between the financial liability element, included in Creditors more than one year, and an equity component, representing the fair value of the embedded option to convert the financial liability into equity. |
|
The equity component of the convertible loan notes was credited to the equity reserve. |
|
Interest of £32,329 (2024: £30,140) was accrued in the year and is included within Creditors more than one year. |
|
| 8 |
Other reserves |
2025 |
|
2024 |
| £ |
£ |
|
|
At 1 December 2024 |
62,418 |
|
61,921 |
|
Equity element of convertible loan notes issued |
|
|
|
|
- |
|
497 |
|
|
At 30 November 2025 |
62,418 |
|
62,418 |
|
|
|
|
|
|
|
|
|
|
| 9 |
Other information |
|
|
Highfield Diagnostics Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
White Building Studios |
|
1-4 Cumberland Place |
|
Southampton |
|
Hampshire |
|
SO15 2NP |