Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Mr C R Reynolds 01/09/2008 Mr G T Reynolds 22/06/2021 Miss L J Reynolds 12/02/2020 Mrs L A Reynolds 09/04/2013 Mr J Robb-Eadie 02/10/2023 01/10/2019 22 July 2024 The principal activity of the Company during the financial year was medical device distribution. 04054345 2023-12-31 04054345 bus:Director1 2023-12-31 04054345 bus:Director2 2023-12-31 04054345 bus:Director3 2023-12-31 04054345 bus:Director4 2023-12-31 04054345 bus:Director5 2023-12-31 04054345 2022-12-31 04054345 core:CurrentFinancialInstruments 2023-12-31 04054345 core:CurrentFinancialInstruments 2022-12-31 04054345 core:ShareCapital 2023-12-31 04054345 core:ShareCapital 2022-12-31 04054345 core:RetainedEarningsAccumulatedLosses 2023-12-31 04054345 core:RetainedEarningsAccumulatedLosses 2022-12-31 04054345 core:LandBuildings 2022-12-31 04054345 core:PlantMachinery 2022-12-31 04054345 core:Vehicles 2022-12-31 04054345 core:FurnitureFittings 2022-12-31 04054345 core:LandBuildings 2023-12-31 04054345 core:PlantMachinery 2023-12-31 04054345 core:Vehicles 2023-12-31 04054345 core:FurnitureFittings 2023-12-31 04054345 core:CostValuation 2022-12-31 04054345 core:CostValuation 2023-12-31 04054345 bus:OrdinaryShareClass1 2023-12-31 04054345 2023-01-01 2023-12-31 04054345 bus:FilletedAccounts 2023-01-01 2023-12-31 04054345 bus:SmallEntities 2023-01-01 2023-12-31 04054345 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 04054345 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04054345 bus:Director1 2023-01-01 2023-12-31 04054345 bus:Director2 2023-01-01 2023-12-31 04054345 bus:Director3 2023-01-01 2023-12-31 04054345 bus:Director4 2023-01-01 2023-12-31 04054345 bus:Director5 2023-01-01 2023-12-31 04054345 core:PlantMachinery core:BottomRangeValue 2023-01-01 2023-12-31 04054345 core:PlantMachinery core:TopRangeValue 2023-01-01 2023-12-31 04054345 core:Vehicles core:TopRangeValue 2023-01-01 2023-12-31 04054345 core:FurnitureFittings core:BottomRangeValue 2023-01-01 2023-12-31 04054345 core:FurnitureFittings core:TopRangeValue 2023-01-01 2023-12-31 04054345 2022-01-01 2022-12-31 04054345 core:LandBuildings 2023-01-01 2023-12-31 04054345 core:PlantMachinery 2023-01-01 2023-12-31 04054345 core:Vehicles 2023-01-01 2023-12-31 04054345 core:FurnitureFittings 2023-01-01 2023-12-31 04054345 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 04054345 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 04054345 (England and Wales)

C J MEDICAL LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

C J MEDICAL LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

C J MEDICAL LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2023
C J MEDICAL LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
DIRECTORS Mr C R Reynolds
Mr G T Reynolds
Miss L J Reynolds
Mrs L A Reynolds
Mr J Robb-Eadie (Resigned 02 October 2023)
REGISTERED OFFICE Unit B3 Walker Business Park
Three Mile Stone
Truro
TR4 9FB
United Kingdom
COMPANY NUMBER 04054345 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Lowin House
Tregolls Road
Truro
Cornwall TR1 2NA
C J MEDICAL LIMITED

BALANCE SHEET

As at 31 December 2023
C J MEDICAL LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 534,964 486,396
Investments 4 62,500 62,500
597,464 548,896
Current assets
Stocks 5 1,396,612 595,178
Debtors 6 1,973,717 868,017
Cash at bank and in hand 618,496 884,977
3,988,825 2,348,172
Creditors: amounts falling due within one year 7 ( 859,375) ( 541,799)
Net current assets 3,129,450 1,806,373
Total assets less current liabilities 3,726,914 2,355,269
Provision for liabilities ( 47,113) ( 49,412)
Net assets 3,679,801 2,305,857
Capital and reserves
Called-up share capital 8 103 103
Profit and loss account 3,679,698 2,305,754
Total shareholders' funds 3,679,801 2,305,857

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of C J Medical Limited (registered number: 04054345) were approved and authorised for issue by the Board of Directors on 22 July 2024. They were signed on its behalf by:

Mr C R Reynolds
Director
C J MEDICAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
C J MEDICAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

C J Medical Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit B3 Walker Business Park, Three Mile Stone, Truro, TR4 9FB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when; the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Land and buildings not depreciated
Plant and machinery 1 - 4 years straight line
Vehicles 4 years straight line
Fixtures and fittings 2 - 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Financial instruments

Classification
The company holds the following financial instruments:

• Investments in other financial assets; and
• Short term trade and other debtors and creditors; and
• Cash and bank balances.

All financial instruments are classified as basic.

Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 17 20

3. Tangible assets

Land and buildings Plant and machinery Vehicles Fixtures and fittings Total
£ £ £ £ £
Cost
At 01 January 2023 0 636,822 638,980 144,660 1,420,462
Additions 44,255 276,243 99,670 4,050 424,218
Disposals 0 ( 5,190) ( 124,138) 0 ( 129,328)
At 31 December 2023 44,255 907,875 614,512 148,710 1,715,352
Accumulated depreciation
At 01 January 2023 0 501,597 293,686 138,783 934,066
Charge for the financial year 0 162,773 174,018 6,339 343,130
Disposals 0 ( 370) ( 96,438) 0 ( 96,808)
At 31 December 2023 0 664,000 371,266 145,122 1,180,388
Net book value
At 31 December 2023 44,255 243,875 243,246 3,588 534,964
At 31 December 2022 0 135,225 345,294 5,877 486,396

4. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 January 2023 62,500 62,500
At 31 December 2023 62,500 62,500
Carrying value at 31 December 2023 62,500 62,500
Carrying value at 31 December 2022 62,500 62,500

5. Stocks

2023 2022
£ £
Stocks 1,396,612 595,178

6. Debtors

2023 2022
£ £
Trade debtors 1,292,845 811,888
Prepayments 53,787 33,456
Other debtors 627,085 22,673
1,973,717 868,017

7. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 77,903 53,426
Amounts owed to directors 20,316 9,513
Accruals 4,000 3,685
Corporation tax 521,504 156,257
Other taxation and social security 184,642 281,830
Other creditors 51,010 37,088
859,375 541,799

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
103 Ordinary shares of £ 1.00 each 103 103

9. Related party transactions

Other related party transactions

2023 2022
£ £
Island View Capital 602,903 1,903

At the balance sheet date £602,903 (2022 - £1,903) was due from a company under common control. The loan was unsecured, interest free and repayable on demand.