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Company Registration No. 07067487 (England and Wales)
Mediright Limited Unaudited Financial Statements for the year ended 30 June 2023
Mediright Limited Unaudited Financial Statements Contents
Page
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Mediright Limited Company Information for the year ended 30 June 2023
Directors
S Wright T J Wright J Smith
Company Number
07067487 (England and Wales)
Registered Office
The Medicentre Carlton Forest, Red Lane, Off Blyth Road Worksop Nottinghamshire S81 8BP United Kingdom
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Mediright Limited Statement of financial position as at 30 June 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
120,178 
96,074 
Current assets
Inventories
3,543 
4,849 
Debtors
224,300 
168,480 
Cash at bank and in hand
36,493 
5,498 
264,336 
178,827 
Creditors: amounts falling due within one year
(133,347)
(125,312)
Net current assets
130,989 
53,515 
Total assets less current liabilities
251,167 
149,589 
Creditors: amounts falling due after more than one year
(68,923)
(69,004)
Provisions for liabilities
Deferred tax
(21,872)
(17,082)
Net assets
160,372 
63,503 
Capital and reserves
Called up share capital
80 
80 
Capital redemption reserve
20 
20 
Profit and loss account
160,272 
63,403 
Shareholders' funds
160,372 
63,503 
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. 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 for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 11 March 2024 and were signed on its behalf by
S Wright Director Company Registration No. 07067487
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Mediright Limited Notes to the Accounts for the year ended 30 June 2023
1
Statutory information
Mediright Limited is a private company, limited by shares, registered in England and Wales, registration number 07067487. The registered office is The Medicentre, Carlton Forest, Red Lane, Off Blyth Road, Worksop, Nottinghamshire, S81 8BP, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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 assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
33%
Motor vehicles
25%
Fixtures & fittings
20%
Computer equipment
33%
Taxation
The current income tax charged is calculated on the basis of the tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income. Deferred tax shall be recognised in respect of all timing differences at the reporting date, except as otherwise required by FRS102. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that 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 income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date. Unrelieved tax losses and other deferred tax assets shall be 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.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items.
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Mediright Limited Notes to the Accounts for the year ended 30 June 2023
Leases and hire purchase
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease. Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 July 2022
81,258 
237,669 
47,922 
51,948 
418,797 
Additions
6,745 
47,800 
605 
18,977 
74,127 
At 30 June 2023
88,003 
285,469 
48,527 
70,925 
492,924 
Depreciation
At 1 July 2022
66,013 
177,778 
34,686 
44,246 
322,723 
Charge for the year
7,514 
27,811 
9,476 
5,222 
50,023 
At 30 June 2023
73,527 
205,589 
44,162 
49,468 
372,746 
Net book value
At 30 June 2023
14,476 
79,880 
4,365 
21,457 
120,178 
At 30 June 2022
15,245 
59,891 
13,236 
7,702 
96,074 
2023 
2022 
Carrying values included above held under finance leases and hire purchase contracts:
£ 
£ 
- Motor vehicles
70,638 
46,027 
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Mediright Limited Notes to the Accounts for the year ended 30 June 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
213,501 
152,930 
Other debtors
10,799 
15,550 
224,300 
168,480 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
10,648 
9,733 
Trade creditors
40,671 
58,406 
Taxes and social security
44,816 
35,529 
Other creditors
37,212 
21,644 
133,347 
125,312 
Bank loans and overdrafts are secured by a fixed and floating charge over all assets of the company.
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
20,065 
30,726 
Other creditors
48,858 
38,278 
68,923 
69,004 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
80 Ordinary shares of £1 each
80 
80 
9
Operating lease commitments
2023 
2022 
£ 
£ 
At 30 June 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
38,500 
38,500 
Later than one year and not later than five years
154,000 
154,000 
Later than five years
11,075 
49,575 
203,575 
242,075 
10
Average number of employees
During the year the average number of employees was 25 (2022: 20).
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