2022-03-012023-02-282023-02-28false04373372DAN MEDICA SOUTH 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DAN MEDICA SOUTH LIMITED

Registered Number
04373372
(England and Wales)

Unaudited Financial Statements for the Year ended
28 February 2023

DAN MEDICA SOUTH LIMITED
Company Information
for the year from 1 March 2022 to 28 February 2023

Directors

Mr D Timm
Mrs L Timm

Registered Address

2 Upperton Gardens
Eastbourne
BN21 2AH

Registered Number

04373372 (England and Wales)
DAN MEDICA SOUTH LIMITED
Statement of Financial Position
28 February 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets62,7233,312
2,7233,312
Current assets
Stocks742,96158,159
Debtors822,2035,161
Cash at bank and on hand31,6567,300
96,82070,620
Creditors amounts falling due within one year9(44,037)(31,878)
Net current assets (liabilities)52,78338,742
Total assets less current liabilities55,50642,054
Provisions for liabilities10(517)(629)
Net assets54,98941,425
Capital and reserves
Called up share capital22
Profit and loss account54,98741,423
Shareholders' funds54,98941,425
The financial statements were approved and authorised for issue by the Board of Directors on 20 November 2023, and are signed on its behalf by:
Mrs L Timm
Director
Registered Company No. 04373372
DAN MEDICA SOUTH LIMITED
Notes to the Financial Statements
for the year ended 28 February 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The 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 od Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
3.Principal activities
The principal activity of the company in the year under review was that of supply of medical rehabilitation products.
4.Accounting policies
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Property, plant and equipment policy
Stocks policy
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred tax policy
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 ta assessments in periods different fromthose 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 is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Foreign currency translation and operations policy
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 and other government assistance policy
Government grants are recognised under the accrual model with grants relating to revenue recognised in income on a systematic basis over the periods in which the entity recognised the related costs for which the grant is intended to compensate. A grant that becomes receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets shall be recognised in income on a systematic basis over the expected useful life of the asset.
5.Employee information

20232022
Average number of employees during the year22
6.Property, plant and equipment

Office Equipment

Total

££
Cost or valuation
At 01 March 2210,42310,423
Additions311311
At 28 February 2310,73410,734
Depreciation and impairment
At 01 March 227,1117,111
Charge for year900900
At 28 February 238,0118,011
Net book value
At 28 February 232,7232,723
At 28 February 223,3123,312
7.Stocks

2023

2022

££
Raw materials and consumables42,96158,159
Total42,96158,159
8.Debtors

2023

2022

££
Trade debtors / trade receivables10,6993,776
Other debtors10,650-
Prepayments and accrued income8541,385
Total22,2035,161
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.
9.Creditors within one year

2023

2022

££
Trade creditors / trade payables31,4245,583
Taxation and social security4,2108,896
Other creditors8,40317,326
Accrued liabilities and deferred income-73
Total44,03731,878
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.
10.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)517629
Total517629