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REGISTERED NUMBER: 09867210 (England and Wales)










Demed Holdings Limited

Unaudited Financial Statements

for the Year Ended 31 October 2023






Demed Holdings Limited (Registered number: 09867210)






Contents of the Financial Statements
for the year ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Demed Holdings Limited

Company Information
for the year ended 31 October 2023







DIRECTORS: Mrs E Thomas
Mr E Lewis
Mr R D Thomas
Mr D T Littler





REGISTERED OFFICE: Unit 12 Llandegai Industrial Estate
Bangor
Gwynedd
LL57 4YH





REGISTERED NUMBER: 09867210 (England and Wales)





ACCOUNTANTS: Salisbury & Company
Chartered Accountants
Irish Square
Upper Denbigh Road
St Asaph
Denbighshire
LL17 0RN

Demed Holdings Limited (Registered number: 09867210)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 828,448 708,485

CURRENT ASSETS
Debtors 5 105,237 84,200
Cash at bank 52 52
105,289 84,252
CREDITORS
Amounts falling due within one year 6 773,720 679,438
NET CURRENT LIABILITIES (668,431 ) (595,186 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

160,017

113,299

CAPITAL AND RESERVES
Called up share capital 20,000 20,000
Capital redemption reserve 5,000 5,000
Retained earnings 135,017 88,299
SHAREHOLDERS' FUNDS 160,017 113,299

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

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 3 April 2024 and were signed on its behalf by:





Mrs E Thomas - Director


Demed Holdings Limited (Registered number: 09867210)

Notes to the Financial Statements
for the year ended 31 October 2023

1. STATUTORY INFORMATION

Demed Holdings 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.

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.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

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.

3. EMPLOYEES AND DIRECTORS

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

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 November 2022 708,485
Additions 119,963
At 31 October 2023 828,448
NET BOOK VALUE
At 31 October 2023 828,448
At 31 October 2022 708,485

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 105,037 84,000
Other debtors 200 200
105,237 84,200

Demed Holdings Limited (Registered number: 09867210)

Notes to the Financial Statements - continued
for the year ended 31 October 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 709,438 507,138
Taxation and social security 15,282 13,300
Other creditors 49,000 159,000
773,720 679,438

7. RELATED PARTY DISCLOSURES

During the year, management fees of £70,000 (2022: £70,000) were charged to Owen & Palmer Ltd.

At the period end the amount due to Owen & Palmer Ltd was £709,438 (2022: £507,138).

During the year dividends of £Nil (2022: £Nil) were received from Owen & Palmer Holdings Limited.

At the period end the amount due from Owen & Palmer Holdings Ltd was £105,037 (2022: £84,000).

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are the directors of the company, who each own 25% of the issued share capital, no individual has overall control.