Company registration number: 13072391
Annual report and unaudited financial statements
for the year ended 31 May 2026
for
Healthcare Evaluation Associates Limited
Pages for filing with the Registrar
Company registration number: 13072391
Healthcare Evaluation Associates Limited
Balance sheet
as at 31 May 2026
2026 2025
Note £ £ £ £
Fixed assets
Investments 4 1,000 1,000
1,000 1,000
Current assets
Debtors 5 6,500,244 6,500,244
6,500,244 6,500,244
Creditors: amounts falling due within one year
6 (2,000,000) (2,000,000)
Net current assets 4,500,244 4,500,244
Total assets less current liabilities 4,501,244 4,501,244
NET ASSETS 4,501,244 4,501,244
Capital and reserves
Called up share capital 1,593 1,593
Share premium account 4,499,651 4,499,651
TOTAL EQUITY 4,501,244 4,501,244
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 31 May 2026.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: 13072391
Healthcare Evaluation Associates Limited
Balance sheet - continued
as at 31 May 2026
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 Profit and loss account has not been delivered to the Registrar.
These financial statements were approved by the Board of directors and authorised for issue on 8 September 2026 and signed on its behalf by:
Professor C Currie, Director
8 September 2026
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Healthcare Evaluation Associates Limited
Notes to the financial statements
for the year ended 31 May 2026
1 Company information
Healthcare Evaluation Associates Limited is a private company registered in England and Wales. Its registered number is 13072391. The company is limited by shares. Its registered office is 24 Wordsworth Avenue, Roath, Cardiff, CF25 3FR.
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 historic cost convention.
Presentation currency
The company’s financial statements are presented in sterling.
Going concern
In preparing these financial statements, the directors have assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company’s ability to continue as a going concern. In making this assessment, the directors take into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The directors consider that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
Exemption from preparation of consolidated financial statements
The financial statements contain information about Healthcare Evaluation Associates Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.
Investments in subsidiaries
Investments in subsidiaries are recognised at cost.
3 Average number of employees
During the year the average number of employees was Nil (2025 - Nil).
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Healthcare Evaluation Associates Limited
Notes to the financial statements - continued
for the year ended 31 May 2026
4 Fixed asset investments
Investments other than loans
Shares in group undertakings and participating interests




£
Cost
At 1 June 2025 1,000
At 31 May 2026 1,000
Net book value
At 31 May 2026 1,000
At 31 May 2025 1,000
5 Debtors
2026 2025
£ £
Amounts falling due within one year
Other debtors 150 150
2026 2025
£ £
Amounts falling due after more than one year
Other debtors 6,500,094 6,500,094
Total 6,500,244 6,500,244
6 Creditors: amounts falling due within one year
2026 2025
£ £
Other loans 2,000,000 2,000,000
Other loans relates to a loan from Cardiff City Council made available on commercial interest terms and repayable in full on the third anniversary of the signing of the loan agreement in 2022. The repayment date has passed, negotiations have taken place to defer the repayment date but no formal agreement to vary the original term have yet been entered into making the loan technically repayable on demand. Interest is currently rolling up into the loan.
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Healthcare Evaluation Associates Limited
Notes to the financial statements - continued
for the year ended 31 May 2026
6 Creditors: amounts falling due within one year - continued
The loan is secured by way of a fixed charge over the assets of the group.
7 Related party transactions
Other debtors due after more than one year represents amounts due from the subsidiary company Pharmatelligence Limited in respect of which no security has been provided, no interest arrangements have been agreed and there are no formal repayment agreements in place. The company is a holding company only and any costs of operations including legal, professional and accountancy costs are met by the subsidiary. The interest obligations associated with the liabilities included in creditors are met by the subsidiary company and accounted for on a substance over form basis in the accounts of the subsidiary.

8 Controlling party
The controlling party is Professor C J Currie, director.
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