REGISTERED NUMBER: 02267621 (England and Wales)

Unaudited Financial Statements

for the Period

1 November 2024 to 30 October 2025

for

Incus Surgical Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

P A Rae

REGISTERED OFFICE:

Cardinals Court

Bradford Street

Braintree

Essex

CM7 9AT

REGISTERED NUMBER:

02267621 (England and Wales)

ACCOUNTANTS:

Wright Vigar Limited

Chartered Accountants & Business Advisers

15 Newland

Lincoln

Lincolnshire

LN1 1XG

CURRENT ASSETS

Stocks

36,000

75,000

Debtors

5

547,222

681,298

Cash at bank and in hand

120,825

8,508

704,047

764,806

CREDITORS

Amounts falling due within one year

6

409,445

394,380

NET CURRENT ASSETS

294,602

370,426

TOTAL ASSETS LESS CURRENT LIABILITIES

294,602

370,426

CREDITORS

Amounts falling due after more than one year

7

-

17,520

NET ASSETS

294,602

352,906

CAPITAL AND RESERVES

Called up share capital

8

8,500

8,500

Share premium

156,000

156,000

Capital redemption reserve

12,000

12,000

Retained earnings

118,102

176,406

SHAREHOLDERS' FUNDS

294,602

352,906

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 October 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 October 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 director and authorised for issue on 30 October 2026 and were signed by:

P A Rae - Director

1.	STATUTORY INFORMATION

Incus 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

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Computer equipment

-

25% straight line

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Taxation

Taxation for the period 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 period 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 5 (2024 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 November 2024

and 30 October 2025

4,190

DEPRECIATION

At 1 November 2024

and 30 October 2025

4,190

NET BOOK VALUE

At 30 October 2025

-

At 31 October 2024

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

442,623

451,377

Other debtors

104,599

229,921

547,222

681,298

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

17,520

30,000

Trade creditors

53,379

60,789

Amounts owed to associates

271,593

254,448

Taxation and social security

2,869

3,369

Other creditors

64,084

45,774

409,445

394,380

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

-

17,520

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

8,500

Ordinary

£1

8,500

8,500

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 30 October 2025 and the year ended 31 October 2024:

2025

2024

£

£

P A Rae

Balance outstanding at start of period

150,962

103,483

Amounts advanced

43,743

119,479

Amounts repaid

(160,349

)

(72,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

34,356

150,962

10.	RELATED PARTY DISCLOSURES

P A Rae, sole director and shareholder in Incus Surgical Limited, is also the sole director and shareholder in Medical Innovation Limited. The company is registered in England and Wales, number 05123828.

As at 31 October 2025 an amount of £271,593 (2024 - £254,448) was owed to Medical Innovation Limited.

No further transactions with related parties were undertaken such as are required to be disclosed in accordance with FRS102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

11.	ULTIMATE CONTROLLING PARTY

The controlling party is P A Rae.