Silverfin false 28/02/2023 01/03/2022 28/02/2023 Mr Alexander Raychuk 12/02/2020 01 November 2023 The principal activity of the company is Business and domestic software development 12458045 2023-02-28 12458045 bus:Director1 2023-02-28 12458045 2022-02-28 12458045 core:CurrentFinancialInstruments 2023-02-28 12458045 core:CurrentFinancialInstruments 2022-02-28 12458045 core:ShareCapital 2023-02-28 12458045 core:ShareCapital 2022-02-28 12458045 core:SharePremium 2023-02-28 12458045 core:SharePremium 2022-02-28 12458045 core:RetainedEarningsAccumulatedLosses 2023-02-28 12458045 core:RetainedEarningsAccumulatedLosses 2022-02-28 12458045 core:PatentsTrademarksLicencesConcessionsSimilar 2022-02-28 12458045 core:PatentsTrademarksLicencesConcessionsSimilar 2023-02-28 12458045 core:OtherPropertyPlantEquipment 2022-02-28 12458045 core:OtherPropertyPlantEquipment 2023-02-28 12458045 bus:OrdinaryShareClass1 2023-02-28 12458045 2022-03-01 2023-02-28 12458045 bus:FullAccounts 2022-03-01 2023-02-28 12458045 bus:SmallEntities 2022-03-01 2023-02-28 12458045 bus:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 12458045 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 12458045 bus:Director1 2022-03-01 2023-02-28 12458045 core:PatentsTrademarksLicencesConcessionsSimilar core:TopRangeValue 2022-03-01 2023-02-28 12458045 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-03-01 2023-02-28 12458045 core:OtherPropertyPlantEquipment core:TopRangeValue 2022-03-01 2023-02-28 12458045 2021-03-01 2022-02-28 12458045 core:PatentsTrademarksLicencesConcessionsSimilar 2022-03-01 2023-02-28 12458045 core:OtherPropertyPlantEquipment 2022-03-01 2023-02-28 12458045 bus:OrdinaryShareClass1 2022-03-01 2023-02-28 12458045 bus:OrdinaryShareClass1 2021-03-01 2022-02-28 iso4217:GBP xbrli:pure xbrli:shares

Company No: 12458045 (England and Wales)

MEDENTEE LIMITED

Unaudited Financial Statements
For the financial year ended 28 February 2023
Pages for filing with the registrar

MEDENTEE LIMITED

Unaudited Financial Statements

For the financial year ended 28 February 2023

Contents

MEDENTEE LIMITED

COMPANY INFORMATION

For the financial year ended 28 February 2023
MEDENTEE LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 28 February 2023
DIRECTOR Mr Alexander Raychuk
REGISTERED OFFICE 71-75 Shelton Street
Covent Garden
London
WC2H 9JQ
United Kingdom
COMPANY NUMBER 12458045 (England and Wales)
ACCOUNTANT OnTheGo Accountants Limited
330 Holborn Gate
High Holborn
London
WC1V 7QH
MEDENTEE LIMITED

BALANCE SHEET

As at 28 February 2023
MEDENTEE LIMITED

BALANCE SHEET (continued)

As at 28 February 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 3,430 3,886
Tangible assets 4 3,661 2,548
7,091 6,434
Current assets
Debtors 5 280,167 139,090
Cash at bank and in hand 6 93,052 268,322
373,219 407,412
Creditors: amounts falling due within one year 7 ( 1,378) ( 674)
Net current assets 371,841 406,738
Total assets less current liabilities 378,932 413,172
Net assets 378,932 413,172
Capital and reserves
Called-up share capital 8 670 600
Share premium account 1,508,046 1,004,261
Profit and loss account ( 1,129,784 ) ( 591,689 )
Total shareholders' funds 378,932 413,172

For the financial year ending 28 February 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of MEDENTEE LIMITED (registered number: 12458045) were approved and authorised for issue by the Director on 01 November 2023. They were signed on its behalf by:

Mr Alexander Raychuk
Director
MEDENTEE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 February 2023
MEDENTEE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 February 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

MEDENTEE LIMITED (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Trademarks, patents and licences 10 years straight line
Research and development

Research expenditure is written off as incurred. Development expenditure is also written off, except where the director is satisfied as to the technical, commercial and financial viability of individual projects. In such cases, the identifiable expenditure is capitalised as an intangible asset and amortised over the period during which the Company is expected to benefit. This period is between three and five years. Provision is made for any impairment.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Intangible assets

Trademarks, patents
and licences
Total
£ £
Cost
At 01 March 2022 4,559 4,559
At 28 February 2023 4,559 4,559
Accumulated amortisation
At 01 March 2022 673 673
Charge for the financial year 456 456
At 28 February 2023 1,129 1,129
Net book value
At 28 February 2023 3,430 3,430
At 28 February 2022 3,886 3,886

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 March 2022 4,182 4,182
Additions 3,256 3,256
At 28 February 2023 7,438 7,438
Accumulated depreciation
At 01 March 2022 1,634 1,634
Charge for the financial year 2,143 2,143
At 28 February 2023 3,777 3,777
Net book value
At 28 February 2023 3,661 3,661
At 28 February 2022 2,548 2,548

5. Debtors

2023 2022
£ £
Deferred tax asset 277,400 138,611
Other debtors 2,767 479
280,167 139,090

6. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 93,052 268,322

7. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 400 38
Other creditors 978 636
1,378 674

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
67,000,000 Ordinary shares shares of £ 0.00001 each (2022: 59,991,214 shares of £ 0.00001 each) 670 600