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REGISTERED NUMBER: 12908479 (England and Wales)















REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

FOR

DISPOSABLE TECHNOLOGIES LIMITED

DISPOSABLE TECHNOLOGIES LIMITED (REGISTERED NUMBER: 12908479)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023




Page

Company Information 1

Report of the Directors 2

Report of the Independent Auditors 4

Income Statement 7

Balance Sheet 8

Notes to the Financial Statements 9


DISPOSABLE TECHNOLOGIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: G Laverdure
R Reuben





REGISTERED OFFICE: 7 St John's Road
Harrow
Middlesex
HA1 2EY





REGISTERED NUMBER: 12908479 (England and Wales)





AUDITORS: Macalvins Limited
Chartered Accountants
and Statutory Auditors
7 St John's Road
Harrow
Middlesex
HA1 2EY

DISPOSABLE TECHNOLOGIES LIMITED (REGISTERED NUMBER: 12908479)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 JULY 2023

The directors present their report with the financial statements of the company for the year ended 31 July 2023.

PRINCIPAL ACTIVITY
Disposable Technologies Limited was established as a procurement company of personal protective equipment in the UK and was set up as part of the expansion plan of Medicom Group, one of the world's leading manufacturers and distributors of high-quality, single-use, preventative and infection control products for the medical, dental, industrial, animal health, laboratory, retail and health and wellness markets. The COVID-19 pandemic highlighted the importance of securing local supply of personal protective equipment.

On 31 March 2022 the directors took the decision to cease trading following the reduction in trading of Medicom Healthpro Limited, a group company.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 August 2022 to the date of this report.

G Laverdure
R Reuben

Other changes in directors holding office are as follows:

Ms V Longden - resigned 10 December 2022

GOING CONCERN
As noted above, on 31 March 2022 the directors took the decision to cease trading following the reduction in trading of Medicom Healthpro Limited. As the directors do not intend to acquire a replacement trade, the directors have not prepared the financial statements on a going concern basis. This has had no effect on the assets or liabilities in the financial statements

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Macalvins Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.


DISPOSABLE TECHNOLOGIES LIMITED (REGISTERED NUMBER: 12908479)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 JULY 2023

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:




R Reuben - Director


29 July 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
DISPOSABLE TECHNOLOGIES LIMITED

Opinion
We have audited the financial statements of Disposable Technologies Limited (the 'company') for the year ended 31 July 2023 which comprise the Income Statement, Balance Sheet and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 July 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Emphasis of matter - non-going concern basis of preparation
We draw attention to the disclosures made in notes 2 and 11 to the financial statements which explain that the financial statements are not prepared on the going concern basis.

On 31 March 2022 the directors took the decision to cease trading and accordingly the directors have not prepared the financial statements on a going concern basis. This has had no effect on the assets or liabilities in the financial statements.

Our opinion is not modified in respect of this matter.

Other information
The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Directors has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
DISPOSABLE TECHNOLOGIES LIMITED


Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

- the nature of the industry and sector, control environment and business performance including the design of the
company's remuneration policies, key drivers for directors’ remuneration, bonus levels and performance targets;
- results of our enquiries of management about their own identification and assessment of the risks of irregularities;
- identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of
non compliance;
- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or
alleged fraud;
- the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;

These matters were discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act and local tax legislation.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it.

In addition, as with any audit, there remained a higher risk of non-detection of fraud, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. Our audit procedures are designed to detect material misstatement We are not responsible for preventing non-compliance or fraud and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
DISPOSABLE TECHNOLOGIES LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 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 a Report of the Auditors 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.




Colin D. Ford B Com FCA (Senior Statutory Auditor)
for and on behalf of Macalvins Limited
Chartered Accountants
and Statutory Auditors
7 St John's Road
Harrow
Middlesex
HA1 2EY

30 July 2024

DISPOSABLE TECHNOLOGIES LIMITED (REGISTERED NUMBER: 12908479)

INCOME STATEMENT
FOR THE YEAR ENDED 31 JULY 2023

31.7.23 31.7.22
Notes £    £   

TURNOVER - 21,845,776

Cost of sales - 17,858,597
GROSS PROFIT - 3,987,179

Administrative expenses 1,277 49,972
(1,277 ) 3,937,207

Other operating income 1,868 -
OPERATING PROFIT and
PROFIT BEFORE TAXATION 591 3,937,207

Tax on profit 112 748,069
PROFIT FOR THE FINANCIAL YEAR 479 3,189,138

DISPOSABLE TECHNOLOGIES LIMITED (REGISTERED NUMBER: 12908479)

BALANCE SHEET
31 JULY 2023

31.7.23 31.7.22
Notes £    £   
CURRENT ASSETS
Debtors 7 - 610
Cash at bank 2,292 5,695
2,292 6,305
CREDITORS
Amounts falling due within one year 8 367 4,859
NET CURRENT ASSETS 1,925 1,446
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,925

1,446

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,825 1,346
SHAREHOLDERS' FUNDS 1,925 1,446

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 29 July 2024 and were signed on its behalf by:





R Reuben - Director


DISPOSABLE TECHNOLOGIES LIMITED (REGISTERED NUMBER: 12908479)

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

1. STATUTORY INFORMATION

Disposable Technologies 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 FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") including the provisions of Section 1A "Small Entities" and the requirements of the Companies Act 2006.

The financial statements are prepared in, sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The principal accounting policies adopted are set out below.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Going concern
On 31 March 2022 the directors took the decision to cease trading following the reduction in trading of Medicom Healthpro Limited. As the directors do not intend to acquire a replacement trade, the directors have not prepared the financial statements on a going concern basis. This has had no effect on the assets or liabilities in the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates and value added tax. Turnover is recognised when goods are shipped and when the customer takes ownership and assumes risk of loss, collection of the related receivable is probable, persuasive evidence of an arrangement exists and the sales price is fixed or determinable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tangible fixed assets are stated at cost, less accumulated depreciation

Depreciation is provided using the straight-line method.
Machinery and equipment: 18 months

The gain' or loss arising on the disposal of an asset is' determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Tangible fixed assets, which are subject to depreciation, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an, asset may not be recoverable. Recoverability is measured by a comparison of the asset's carrying amount to the estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of the asset exceeds its estimated future cash flows, an impairment charge is recognised for the amount by which the carrying amount of the asset exceeds the fair value of the asset. When quoted market prices are not available, the Company uses the expected future cash flows discounted at a rate commensurate with the risks associated with the recovery of the asset as an estimate of fair value.

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.


DISPOSABLE TECHNOLOGIES LIMITED (REGISTERED NUMBER: 12908479)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 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.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of the financial assets and liabilities like trade and other debtors and creditors. Debt instruments are payable or receivable within one year.

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at the annual board meeting.

3. JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the Companies accounting policies, management is required to make judgements, estimates and assumptions about carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.,

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

There are no key sources of estimation uncertainty that have a significant effect on the amount recognised in the financial statements.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 3 ) .

5. OPERATING PROFIT

The operating profit is stated after charging:

31.7.23 31.7.22
£    £   
Depreciation - owned assets - 5,424

The external audit fee of £5,650 is borne by a fellow group company.

DISPOSABLE TECHNOLOGIES LIMITED (REGISTERED NUMBER: 12908479)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2022
and 31 July 2023 5,424
DEPRECIATION
At 1 August 2022
and 31 July 2023 5,424
NET BOOK VALUE
At 31 July 2023 -

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors - 610

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade creditors 254 -
Taxation and social security 113 4,859
367 4,859

9. RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption under paragraph 33.1A from the provisions of FRS 102 and it has not disclosed any transactions with any fellow wholly-owned subsidiary undertaking, on the grounds that consolidated financial statements are prepared by the ultimate parent company.

In the period service fees of £nil were made to Excelsior Development Limited in relation to management support (2022: £38,000). Excelsior Development Limited was considered a related party as Hughes Bourgeois, statutory director of the Company until 26 July 2022, was also a Director of Excelsior Development Limited. The amounts due to Excelsior Development Limited at 31 July 2023 were £nil (2022: £nil).

10. ULTIMATE CONTROLLING PARTY

The parent of the smallest group of undertakings of which this Company is a member, and for which consolidated financial statements are prepared is Medicom Healthcare Holding BV, a company incorporated in the Netherlands. The financial statements are available from the company's registered office, Parallelweg 80A, 3931 MT Woudenberg, Netherlands.

The parent of the largest group of undertakings of which this Company is a member, and for which consolidated financial statements are prepared is Medicom Group Inc. The Company's ultimate controlling party is Medicom Group Inc, a company incorporated in Canada. The financial statements are available from the company's registered office, 2555 Chemin de l'Aviation, Point-Claire, Quebec, H9P 2Z2, Canada.

11. GOING CONCERN

On 31 March 2022 the directors took the decision to cease trading following the reduction in trading of Medicom Healthpro Limited. As the directors do not intend to acquire a replacement trade, the directors have not prepared the financial statements on a going concern basis. This has had no effect on the assets or liabilities in the financial statements.

The company is in a net asset position at 31 July 2023 and the directors are satisfied that the company remains solvent.