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REGISTERED NUMBER: 02826839 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

FOR

FINETECH MEDICAL LIMITED

FINETECH MEDICAL LIMITED (REGISTERED NUMBER: 02826839)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FINETECH MEDICAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: MR T Denison
Mr A H W Crawley





REGISTERED OFFICE: 178-180 Hotwell Road
Bristol
BS8 4RP





REGISTERED NUMBER: 02826839 (England and Wales)





ACCOUNTANTS: Lawes & Co
Boyce's Building
40-42 Regent Street
Clifton
Bristol
BS8 4HU

FINETECH MEDICAL LIMITED (REGISTERED NUMBER: 02826839)

BALANCE SHEET
30 JUNE 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 12,699 17,702

CURRENT ASSETS
Stocks 111,407 110,863
Debtors 5 176,446 147,671
Cash at bank and in hand 9,053 57,202
296,906 315,736
CREDITORS
Amounts falling due within one year 6 210,739 141,158
NET CURRENT ASSETS 86,167 174,578
TOTAL ASSETS LESS CURRENT
LIABILITIES

98,866

192,280

CREDITORS
Amounts falling due after more than
one year

7

21,107

29,774
NET ASSETS 77,759 162,506

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 77,659 162,406
SHAREHOLDERS' FUNDS 77,759 162,506

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

FINETECH MEDICAL LIMITED (REGISTERED NUMBER: 02826839)

BALANCE SHEET - continued
30 JUNE 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 9 February 2024 and were signed on its behalf by:





Mr A H W Crawley - Director


FINETECH MEDICAL LIMITED (REGISTERED NUMBER: 02826839)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

Finetech Medical 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.

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 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 - 10% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

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.

FINETECH MEDICAL LIMITED (REGISTERED NUMBER: 02826839)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

2. ACCOUNTING POLICIES - continued

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 4 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machiner
£   
COST
At 1 July 2022 116,613
Additions 350
At 30 June 2023 116,963
DEPRECIATION
At 1 July 2022 98,911
Charge for year 5,353
At 30 June 2023 104,264
NET BOOK VALUE
At 30 June 2023 12,699
At 30 June 2022 17,702

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 12,945 58,572
Amounts owed by group undertakings 2,828 2,384
Other debtors 160,673 86,715
176,446 147,671

FINETECH MEDICAL LIMITED (REGISTERED NUMBER: 02826839)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts 10,492 10,648
Trade creditors 46,089 6,867
Amounts owed to group undertakings 121,398 91,398
Taxation and social security 13,642 13,876
Other creditors 19,118 18,369
210,739 141,158

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans 21,107 29,774

8. DEFERRED TAX
£   
Balance at 1 July 2022 (81,193 )
Reversal of timing differences (188 )
Tax on losses (61,737 )
Balance at 30 June 2023 (143,118 )

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.23 30.6.22
value: £    £   
100 Ordinary £1 100 100

10. RELATED PARTY DISCLOSURES

At the balance sheet date, the company was owed £2,828 (2022: £2,384) by Bioinduction Medical Limited, its parent company. In addition, the company owed £121,398 (2022: £91,398) to Bioinduction Limited, its ultimate parent company.

The company maintains an interest free loan with one of the directors. At the year end, the company owed the director £15,738 (2022: £16,421).

11. POST BALANCE SHEET EVENTS

The entire company's share capital was acquired by Amber Therapeutics Ltd on 25 July 2023.

FINETECH MEDICAL LIMITED (REGISTERED NUMBER: 02826839)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

12. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.