Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falseNo description of principal activity2626falsetrue 05082159 2023-01-01 2023-12-31 05082159 2022-01-01 2022-12-31 05082159 2023-12-31 05082159 2022-12-31 05082159 c:CompanySecretary1 2023-01-01 2023-12-31 05082159 c:Director1 2023-01-01 2023-12-31 05082159 c:Director2 2023-01-01 2023-12-31 05082159 c:Director2 2023-12-31 05082159 c:Director3 2023-01-01 2023-12-31 05082159 c:Director3 2023-12-31 05082159 c:RegisteredOffice 2023-01-01 2023-12-31 05082159 d:PlantMachinery 2023-01-01 2023-12-31 05082159 d:PlantMachinery 2023-12-31 05082159 d:PlantMachinery 2022-12-31 05082159 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05082159 d:FurnitureFittings 2023-01-01 2023-12-31 05082159 d:FurnitureFittings 2023-12-31 05082159 d:FurnitureFittings 2022-12-31 05082159 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05082159 d:OfficeEquipment 2023-01-01 2023-12-31 05082159 d:OfficeEquipment 2023-12-31 05082159 d:OfficeEquipment 2022-12-31 05082159 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05082159 d:ComputerEquipment 2023-01-01 2023-12-31 05082159 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05082159 d:CurrentFinancialInstruments 2023-12-31 05082159 d:CurrentFinancialInstruments 2022-12-31 05082159 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 05082159 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 05082159 d:ShareCapital 2023-12-31 05082159 d:ShareCapital 2022-12-31 05082159 d:OtherMiscellaneousReserve 2023-01-01 2023-12-31 05082159 d:OtherMiscellaneousReserve 2023-12-31 05082159 d:OtherMiscellaneousReserve 2022-12-31 05082159 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 05082159 d:RetainedEarningsAccumulatedLosses 2023-12-31 05082159 d:RetainedEarningsAccumulatedLosses 2022-12-31 05082159 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-01-01 2023-12-31 05082159 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-12-31 05082159 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2022-12-31 05082159 c:OrdinaryShareClass1 2023-01-01 2023-12-31 05082159 c:OrdinaryShareClass1 2023-12-31 05082159 c:OrdinaryShareClass1 2022-12-31 05082159 c:FRS102 2023-01-01 2023-12-31 05082159 c:Audited 2023-01-01 2023-12-31 05082159 c:FullAccounts 2023-01-01 2023-12-31 05082159 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 05082159 d:WithinOneYear 2023-12-31 05082159 d:WithinOneYear 2022-12-31 05082159 d:BetweenOneFiveYears 2023-12-31 05082159 d:BetweenOneFiveYears 2022-12-31 05082159 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 05082159 2 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 05082159











BELIMED LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023
















TWP ACCOUNTING LLP
Chartered Accountants & Statutory Auditors
The Old Rectory
Church Street
Weybridge
Surrey
KT13 8DE

 
BELIMED LIMITED
 

COMPANY INFORMATION


Directors
M O'Hare 
D Arnold (resigned 30 November 2023)
R Hammerli (appointed 30 November 2023)




Company secretary
N Mikus



Registered number
05082159



Registered office
Unit 4
New Buildings Place

Dragons Green Road

Shipley, Horsham

West Sussex

RH13 8GQ




Independent auditor
TWP Accounting LLP
Chartered Accountants & Statutory Auditors

The Old Rectory

Church Street

Weybridge

Surrey

KT13 8DE





 
BELIMED LIMITED
REGISTERED NUMBER: 05082159

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£000
£000

Fixed assets
  

Tangible assets
 4 
27
32

  
27
32

Current assets
  

Stocks
 5 
247
266

Debtors: amounts falling due within one year
 6 
1,333
1,089

Cash at bank and in hand
 7 
100
134

  
1,680
1,489

Creditors: amounts falling due within one year
 8 
(1,203)
(1,261)

Net current assets
  
 
 
477
 
 
228

Total assets less current liabilities
  
504
260

Provisions for liabilities
  

Other provisions
 9 
(37)
(60)

  
 
 
(37)
 
 
(60)

Net assets
  
467
200


Capital and reserves
  

Called up share capital 
 10 
200
200

Other reserves
 11 
374
374

Profit and loss account
 11 
(107)
(374)

  
467
200


Page 1

 
BELIMED LIMITED
REGISTERED NUMBER: 05082159

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

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 comprehensive income 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 8 April 2024.



................................................
M O'Hare
Director

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

Page 2

 
BELIMED LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Belimed Limited 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 principal activity of the company is complete innovative solutions for cleaning, disinfection and sterilisation in the sectors of healthcare, pharmaceutical industry and laboratories.
Monetary amounts in these financial statements are rounded to the nearest thousand pound.

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.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

  
2.2

Turnover

Turnover represents amounts invoiced to customers, net of value added tax, upon dispatch of the goods and onsite installation of larger products, according to the Company's contractual obligations. Support and maintenance fees are recognised over the period of the contract and according to performance.

 
2.3

Going concern

The Directors have obtained assurances from the Company's Shareholder, Belimed AG, that they will continue to support the Company for the foreseeable future.
Accordingly the financial statements have been prepared on a going concern basis and do not include any adjustments that would result if the Company or its subsidiaries were not able to continue as a going concern.

 
2.4

Foreign currency translation

Functional and presentation currency
The Company's functional and presentational currency is GBP.
Transactions and balances
Monetary assets and liabilities denominated 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.

Page 3

 
BELIMED LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
straight-line
Fixtures and fittings
-
20%
straight-line
Computer equipment
-
33%
straight-line

The assets' residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate; or, if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Statement of Comprehensive Income.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash at bank with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.9

Creditors

Short-term creditors are measured at the transaction price.

 
2.10

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Statement of Comprehensive Income in the year that the Company becomes aware of the obligation and are measured at the best estimate at the Balance Sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

Page 4

 
BELIMED LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.11

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities, such as trade and other debtors and creditors, and loans to/from related parties.

 
2.12

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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.13

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.14

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.15

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.

 
2.16

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 5

 
BELIMED LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 26 (2022 - 26).


4.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Office equipment
Total

£000
£000
£000
£000



Cost or valuation


At 1 January 2023
196
24
57
277


Additions
10
-
5
15


Disposals
(14)
-
(17)
(31)



At 31 December 2023

192
24
45
261



Depreciation


At 1 January 2023
174
24
47
245


Charge for the year on owned assets
9
-
7
16


Disposals
(10)
-
(17)
(27)



At 31 December 2023

173
24
37
234



Net book value



At 31 December 2023
19
-
8
27



At 31 December 2022
22
-
10
32

Page 6

 
BELIMED LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Stocks

2023
2022
£000
£000

Raw materials and consumables
247
266

247
266



6.


Debtors

2023
2022
£000
£000


Trade debtors
874
480

Amounts owed by group undertakings
380
535

Other debtors
12
35

Prepayments and accrued income
67
39

1,333
1,089



7.


Cash and cash equivalents

2023
2022
£000
£000

Cash at bank and in hand
100
134

100
134



8.


Creditors: Amounts falling due within one year

2023
2022
£000
£000

Trade creditors
37
26

Amounts owed to group undertakings
6
201

Other taxation and social security
168
88

Other creditors
36
62

Accruals and deferred income
956
884

1,203
1,261


Page 7

 
BELIMED LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Provisions





Warranty provision

£000





At 1 January 2023
60


Charged to profit or loss
(23)



At 31 December 2023
37


10.


Share capital

2023
2022
£000
£000
Allotted, called up and fully paid



200 (2022 - 200) Ordinary shares of £1,000 each
200
200



11.


Reserves

Other reserves

The other reserves represent a capital contribution received from the Company's parent company, which is not repayable.

Profit and loss account

The profit and loss account represents cumulative profits and losses net of adjustments and dividends.


12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £69k (2022 - £57k). Contributions totaling £nil (2022 - £nil) were payable to the fund at the balance sheet date and are included in creditors.

Page 8

 
BELIMED LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

13.


Commitments under operating leases

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£000
£000


Not later than 1 year
95
98

Later than 1 year and not later than 5 years
139
58

234
156


14.


Related party transactions

As the Company is a wholly owned subsidiary of Metall Zug Group, the Company has taken advantage of the exemption available under Paragraph 33.1a of the Financial Reporting Standard No. 102 and has therefore not disclosed transactions or balances with entities which form part of the group.


15.


Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 8 April 2024 by Philip Munk FCA FCCA (Senior Statutory Auditor) on behalf of TWP Accounting LLP.

This report is made solely to the company’s members, as a body, in accordance with Sections 495 and 496 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.


Page 9