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Company Registration number: 03996456

Medipure Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Medipure Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 10

 

Medipure Limited

Company Information

Directors

Mrs R Daly

Mr JM Daly

Registered office

Colomendy Industrial Estate
Ewr Las Rhyl Road
Denbigh
Denbighshire
Clwyd
LL16 5TA

Accountants

BK Plus Limited
Chartered Certified Accountants
7 Waterside Court
St. Helens
Merseyside
WA9 1UA

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Medipure Limited
for the Year Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Medipure Limited for the year ended 31 March 2024 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Medipure Limited, as a body, in accordance with the terms of our engagement letter dated 11 June 2020. Our work has been undertaken solely to prepare for your approval the accounts of Medipure Limited and state those matters that we have agreed to state to the Board of Directors of Medipure Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Medipure Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Medipure Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Medipure Limited. You consider that Medipure Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Medipure Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

BK Plus Limited
Chartered Certified Accountants
7 Waterside Court
St. Helens
Merseyside
WA9 1UA

21 August 2024

 

Medipure Limited

(Registration number: 03996456)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

47,439

54,283

Tangible assets

5

458,439

472,639

 

505,878

526,922

Current assets

 

Stocks

146,183

148,596

Debtors

6

141,742

181,385

Cash at bank and in hand

 

274,426

233,417

 

562,351

563,398

Creditors: Amounts falling due within one year

7

(84,886)

(104,095)

Net current assets

 

477,465

459,303

Net assets

 

983,343

986,225

Capital and reserves

 

Called up share capital

1,000

1,000

Share premium reserve

94,550

94,550

Capital redemption reserve

100,000

100,000

Revaluation reserve

105,700

108,500

Retained earnings

682,093

682,175

Shareholders' funds

 

983,343

986,225

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 21 August 2024 and signed on its behalf by:
 

 

Medipure Limited

(Registration number: 03996456)
Balance Sheet as at 31 March 2024

.........................................
Mr JM Daly
Director

   
     
 

Medipure Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Colomendy Industrial Estate
Ewr Las Rhyl Road
Denbigh
Denbighshire
Clwyd
LL16 5TA

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The financial statements are prepared in sterling, which is the functional currency of the entity.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

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 sales/value added tax, returns, rebates and discounts.

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.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Medipure Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit and loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit and loss.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold buildings

2% straight line

Plant and machinery

15% reducing balance

Fixtures and fittings

15% reducing balance

Motor vehicles

25% reducing balance

Intangible assets

Patents are valued at cost less accumulated amortisation.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Patents

13 years

 

Medipure Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) 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 inventories 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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 6).

 

Medipure Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Intangible assets

Trademarks, patents and licenses
 £

Total
£

Cost or valuation

At 1 April 2023

138,150

138,150

Additions acquired separately

3,484

3,484

At 31 March 2024

141,634

141,634

Amortisation

At 1 April 2023

83,867

83,867

Amortisation charge

10,328

10,328

At 31 March 2024

94,195

94,195

Carrying amount

At 31 March 2024

47,439

47,439

At 31 March 2023

54,283

54,283

5

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

545,515

21,834

370,659

19,650

957,658

At 31 March 2024

545,515

21,834

370,659

19,650

957,658

Depreciation

At 1 April 2023

101,617

20,072

343,821

19,509

485,019

Charge for the year

9,875

264

4,026

35

14,200

At 31 March 2024

111,492

20,336

347,847

19,544

499,219

Carrying amount

At 31 March 2024

434,023

1,498

22,812

106

458,439

At 31 March 2023

443,898

1,762

26,838

141

472,639

 

Medipure Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Revaluation

The fair value of the company's Freehold property was revalued on 31 March 2024. An independent valuer was not involved.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £328,323 (2023 - £335,398).

6

Debtors

2024
£

2023
£

Trade debtors

42,053

61,525

Prepayments

-

11,456

Other debtors

99,689

108,404

141,742

181,385

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

13,989

23,079

Taxation and social security

8,417

17,305

Accruals and deferred income

61,562

63,711

Other creditors

918

-

84,886

104,095

 

Medipure Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

8

Related party transactions

Transactions with directors

2024

At 1 April 2023
£

Repayments by director
£

At 31 March 2024
£

Mr JM Daly

1,286

(1,286)

-

       
     

 

2023

At 1 April 2022
£

Repayments by director
£

At 31 March 2023
£

Mr JM Daly

3,490

(2,204)

1,286