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REGISTERED NUMBER: SC162409 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Anatomical Concepts (U.K.) Limited

Anatomical Concepts (U.K.) Limited (Registered number: SC162409)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

Anatomical Concepts (U.K.) Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Dr Derek Jones
Miss Carolyn Emma Jones





REGISTERED OFFICE: Unit 18
Block 6 Trading Estate
Third Road
Blantyre
G72 0UP





REGISTERED NUMBER: SC162409 (Scotland)





ACCOUNTANTS: Sharles Ltd
Chartered Accountants
29 Brandon Street
Hamilton
ML3 6DA

Anatomical Concepts (U.K.) Limited (Registered number: SC162409)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 1,333 2,333
Tangible assets 6 70,475 95,856
71,808 98,189

CURRENT ASSETS
Stocks 7 741,618 729,155
Debtors 8 217,634 213,806
Cash at bank and in hand 40,166 7,340
999,418 950,301
CREDITORS
Amounts falling due within one year 9 526,511 512,150
NET CURRENT ASSETS 472,907 438,151
TOTAL ASSETS LESS CURRENT
LIABILITIES

544,715

536,340

CREDITORS
Amounts falling due after more than one
year

10

(43,467

)

(64,275

)

PROVISIONS FOR LIABILITIES (13,622 ) (14,697 )
NET ASSETS 487,626 457,368

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 487,526 457,268
487,626 457,368

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

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

Anatomical Concepts (U.K.) Limited (Registered number: SC162409)

Balance Sheet - continued
31 December 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 26 August 2024 and were signed on its behalf by:





Dr Derek Jones - Director


Anatomical Concepts (U.K.) Limited (Registered number: SC162409)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Anatomical Concepts (U.K.) Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

Turnover is derived from health care products distributed by the company.

Turnover is measured at the fair value of products and services supplied, net of discounts and excluding value added tax, and is recognised at the point that the company obtains the right to consideration.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 15% on reducing balance
Motor vehicles - at variable rates on reducing balance
Computer equipment - 33% on cost

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment loss.

At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Expenditure of £500 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the income statement in the period it is incurred.

Anatomical Concepts (U.K.) Limited (Registered number: SC162409)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. ACCOUNTING POLICIES - continued

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to the income statement as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amounts of stocks recognised as an expense in the period in which the reversal occurs.

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.

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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 4 ) .

Anatomical Concepts (U.K.) Limited (Registered number: SC162409)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 January 2023
and 31 December 2023 5,000
AMORTISATION
At 1 January 2023 2,667
Amortisation for year 1,000
At 31 December 2023 3,667
NET BOOK VALUE
At 31 December 2023 1,333
At 31 December 2022 2,333

6. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 24,328 12,509 98,560 32,517 167,914
Additions - 1,242 - 2,390 3,632
At 31 December 2023 24,328 13,751 98,560 34,907 171,546
DEPRECIATION
At 1 January 2023 5,396 3,875 35,646 27,141 72,058
Charge for year 2,432 1,938 18,875 5,768 29,013
At 31 December 2023 7,828 5,813 54,521 32,909 101,071
NET BOOK VALUE
At 31 December 2023 16,500 7,938 44,039 1,998 70,475
At 31 December 2022 18,932 8,634 62,914 5,376 95,856

7. STOCKS
2023 2022
£    £   
Stocks 741,618 729,155

Anatomical Concepts (U.K.) Limited (Registered number: SC162409)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 144,381 147,750
Amounts owed by group undertakings 63,512 54,712
Other debtors 9,741 11,344
217,634 213,806

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,140 22,032
Trade creditors 415,963 387,308
Taxation and social security 58,055 55,322
Other creditors 42,353 47,488
526,511 512,150

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 14,806 24,946
Other creditors 28,661 39,329
43,467 64,275

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal - 4,433

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 24,946 34,836

The bank loan is supported by a 100% guarantee from the UK Government.

12. RELATED PARTY DISCLOSURES

The company operates a loan account with the director, W Detoro.
During the year, the director advanced loans £2,800 to the company. At the year end, the balance due to the director was £17,360 (2021: £14,560). This loan is unsecured, interest free and has no fixed repayment terms.

The company also operates a loan account with the directors, D Jones and C Jones.
During the year, the company has repaid the loan to D Jones of £798 and the was no balance remaining (2022, £798)
During the year, C Jones repaid the loan to the company and there was no balance remaining (2022, £4,088 advanced by the company)

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Anatomical Concepts (U.K.) Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Anatomical Concepts (U.K.) Limited for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Anatomical Concepts (U.K.) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Anatomical Concepts (U.K.) Limited and state those matters that we have agreed to state to the Board of Directors of Anatomical Concepts (U.K.) Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Anatomical Concepts (U.K.) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Anatomical Concepts (U.K.) Limited. You consider that Anatomical Concepts (U.K.) 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 financial statements of Anatomical Concepts (U.K.) 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 financial statements.






Sharles Ltd
Chartered Accountants
29 Brandon Street
Hamilton
ML3 6DA


26 August 2024