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REGISTERED NUMBER: 10862136 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 September 2023

for

NewMed Ltd

NewMed Ltd (Registered number: 10862136)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NewMed Ltd

Company Information
for the Year Ended 30 September 2023







DIRECTORS: A G T Smith
J T C Smith
T C L Smith





REGISTERED OFFICE: Station Yard
Station Road
Harrietsham
Maidstone
Kent
ME17 1JA





REGISTERED NUMBER: 10862136 (England and Wales)





ACCOUNTANTS: Berry & Company
Chartered Accountants
Sterling House
7 Ashford Road
Maidstone
Kent
ME14 5BJ

NewMed Ltd (Registered number: 10862136)

Balance Sheet
30 September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 5,333 9,667
Tangible assets 5 20,351 26,771
25,684 36,438

CURRENT ASSETS
Stocks 82,172 102,288
Debtors 6 46,969 17,686
Cash at bank 88,390 64,693
217,531 184,667
CREDITORS
Amounts falling due within one year 7 186,070 174,014
NET CURRENT ASSETS 31,461 10,653
TOTAL ASSETS LESS CURRENT
LIABILITIES

57,145

47,091

PROVISIONS FOR LIABILITIES 3,363 2,627
NET ASSETS 53,782 44,464

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 53,682 44,364
53,782 44,464

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

NewMed Ltd (Registered number: 10862136)

Balance Sheet - continued
30 September 2023


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 Board of Directors and authorised for issue on 22 February 2024 and were signed on its behalf by:





A G T Smith - Director


NewMed Ltd (Registered number: 10862136)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

NewMed Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Income recognition
Turnover represents the fair value of consideration received or receivable derived from the retail sale of Pulsed Electromagnetic Field Therapy (PEMF) goods to customers during the year (excluding value added tax) and is recognised when the company becomes entitled to it, usually on the rendering of an invoice.

Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 25% on reducing balance and 20% on reducing balance

Inventories
Inventories are measured at the lower of cost and estimated selling price less costs to complete and sell.

Financial instruments
The company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

Taxation
Taxation for the year 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.


NewMed Ltd (Registered number: 10862136)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

2. ACCOUNTING POLICIES - continued
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 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 it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 October 2022
and 30 September 2023 13,000
AMORTISATION
At 1 October 2022 3,333
Charge for year 4,334
At 30 September 2023 7,667
NET BOOK VALUE
At 30 September 2023 5,333
At 30 September 2022 9,667

NewMed Ltd (Registered number: 10862136)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2022 33,829
Additions 1,515
Disposals (3,000 )
At 30 September 2023 32,344
DEPRECIATION
At 1 October 2022 7,058
Charge for year 5,955
Eliminated on disposal (1,020 )
At 30 September 2023 11,993
NET BOOK VALUE
At 30 September 2023 20,351
At 30 September 2022 26,771

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 35,529 860
Other debtors 11,440 16,826
46,969 17,686

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 74,918 88,754
Taxation and social security 20,301 13,647
Other creditors 90,851 71,613
186,070 174,014