Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31true2021-11-01falseNo description of principal activity11trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12096230 2021-11-01 2023-03-31 12096230 2020-08-01 2021-10-31 12096230 2023-03-31 12096230 2021-10-31 12096230 c:Director1 2021-11-01 2023-03-31 12096230 d:FreeholdInvestmentProperty 2023-03-31 12096230 d:FreeholdInvestmentProperty 2021-10-31 12096230 d:CurrentFinancialInstruments 2023-03-31 12096230 d:CurrentFinancialInstruments 2021-10-31 12096230 d:Non-currentFinancialInstruments 2023-03-31 12096230 d:Non-currentFinancialInstruments 2021-10-31 12096230 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 12096230 d:CurrentFinancialInstruments d:WithinOneYear 2021-10-31 12096230 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 12096230 d:Non-currentFinancialInstruments d:AfterOneYear 2021-10-31 12096230 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 12096230 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2021-10-31 12096230 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 12096230 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2021-10-31 12096230 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-03-31 12096230 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2021-10-31 12096230 d:ShareCapital 2023-03-31 12096230 d:ShareCapital 2021-10-31 12096230 d:RetainedEarningsAccumulatedLosses 2023-03-31 12096230 d:RetainedEarningsAccumulatedLosses 2021-10-31 12096230 c:OrdinaryShareClass1 2021-11-01 2023-03-31 12096230 c:OrdinaryShareClass1 2023-03-31 12096230 c:OrdinaryShareClass1 2021-10-31 12096230 c:FRS102 2021-11-01 2023-03-31 12096230 c:AuditExempt-NoAccountantsReport 2021-11-01 2023-03-31 12096230 c:FullAccounts 2021-11-01 2023-03-31 12096230 c:PrivateLimitedCompanyLtd 2021-11-01 2023-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 12096230









MEDDOX LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2023

 
MEDDOX LIMITED
REGISTERED NUMBER: 12096230

BALANCE SHEET
AS AT 31 MARCH 2023

31 March
31 October
2023
2021
Note
£
£

Fixed assets
  

Investment property
 4 
549,663
549,663

  
549,663
549,663

  

Creditors: amounts falling due within one year
 5 
(211,283)
(207,737)

Net current liabilities
  
 
 
(211,283)
 
 
(207,737)

Total assets less current liabilities
  
338,380
341,926

Creditors: amounts falling due after more than one year
 6 
(314,868)
(329,817)

  

Net assets
  
23,512
12,109


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
23,412
12,009

  
23,512
12,109


Page 1

 
MEDDOX LIMITED
REGISTERED NUMBER: 12096230
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 10 November 2023.




Jai Arhi
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
MEDDOX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

1.


General information

The Company is a private company, limited by shares, incorporated and domiciled in England within the United Kingdom, registration number 12096230.  The Company's registered office is 15a Commercial Street, Hereford, Herefordshire, England, HR1 2DE.
The financial statements are presented in sterling which is the functional currency of the company and the financial statements are rounded to the nearest £1.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

Cash flow
Under Financial Reporting Standard 102, the company is exempt from the requirement to prepare a cash flow statement on the grounds that it qualifies as a small company.

The following principal accounting policies have been applied:

 
2.2

Going concern

The director has prepared the accounts on a going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
MEDDOX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.7

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are
Page 4

 
MEDDOX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.10
Financial instruments (continued)

initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the
Page 5

 
MEDDOX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.10
Financial instruments (continued)

effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the period was 1 (2021 - 1).

Page 6

 
MEDDOX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

4.


Investment property





Freehold investment property

£



Valuation


At 1 November 2021
549,663



At 31 March 2023
549,663

The 2023 valuations were made by the director, on an open market value for existing use basis.





5.


Creditors: Amounts falling due within one year

31 March
31 October
2023
2021
£
£

Bank overdrafts
-
12

Bank loans
26,068
26,068

Corporation tax
2,768
2,817

Other creditors
181,247
177,958

Accruals and deferred income
1,200
882

211,283
207,737


The following liabilities were secured:

31 March
31 October
2023
2021
£
£



Bank loans
26,068
26,068

26,068
26,068

Details of security provided:

The bank loans are secured through a fixed and floating charge over the assets of the company.

Page 7

 
MEDDOX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

6.


Creditors: Amounts falling due after more than one year

31 March
31 October
2023
2021
£
£

Bank loans
314,868
329,817

314,868
329,817


The following liabilities were secured:

31 March
31 October
2023
2021
£
£



Bank loans
314,868
329,817

314,868
329,817

Details of security provided:

The bank loans are secured through a fixed and floating charge over the assets of the company.

Page 8

 
MEDDOX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

7.


Loans


Analysis of the maturity of loans is given below:


31 March
31 October
2023
2021
£
£

Amounts falling due within one year

Bank loans
26,068
26,068


26,068
26,068

Amounts falling due 1-2 years

Bank loans
26,068
26,068


26,068
26,068

Amounts falling due 2-5 years

Bank loans
78,204
78,204


78,204
78,204

Amounts falling due after more than 5 years

Bank loans
210,596
225,545

210,596
225,545

340,936
355,885



8.


Share capital

31 March
31 October
2023
2021
£
£
Allotted, called up and fully paid



100 (2021 - 100) Ordinary shares of £1.00 each
100
100



9.


Related party transactions

As at the balance sheet date £1,966 (2021: £783) was due from the director. This loan is interest free and repayable on demand.

 
Page 9