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REGISTERED NUMBER: 07068816 (England and Wales)



















MEDIBORD LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023






MEDIBORD LIMITED (REGISTERED NUMBER: 07068816)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5


MEDIBORD LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: Mr W Boersma
Dr J S Weightman





REGISTERED OFFICE: 81 Burton Road
Derby
Derbyshire
DE1 1TJ





REGISTERED NUMBER: 07068816 (England and Wales)





ACCOUNTANTS: Johnson Tidsall Limited
Chartered Accountants
81 Burton Road
Derby
Derbyshire
DE1 1TJ

MEDIBORD LIMITED (REGISTERED NUMBER: 07068816)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 47,329 57,502
Tangible assets 5 8,984 7,987
56,313 65,489

CURRENT ASSETS
Debtors 6 11,629 6,555
Cash at bank 12,648 3,907
24,277 10,462
CREDITORS
Amounts falling due within one year 7 41,943 42,039
NET CURRENT LIABILITIES (17,666 ) (31,577 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

38,647

33,912

CAPITAL AND RESERVES
Called up share capital 8 2,325 2,325
Share premium 224,043 224,043
Retained earnings (187,721 ) (192,456 )
SHAREHOLDERS' FUNDS 38,647 33,912

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

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

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 August 2024 and were signed on its behalf by:





Mr W Boersma - Director


MEDIBORD LIMITED (REGISTERED NUMBER: 07068816)

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


1. STATUTORY INFORMATION

Medibord 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.

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


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.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer. Turnover from the rendering of services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract.

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 nil years.

Development costs are being amortised evenly over their estimated useful life of ten years.

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 - 25% on reducing balance

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

MEDIBORD LIMITED (REGISTERED NUMBER: 07068816)

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


2. ACCOUNTING POLICIES - continued

Research and development
Expenditure on research is written off in the year in which it is incurred. Development costs are capitalised and amortised over the estimated useful life of the asset.

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.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions.

Creditors
Short term creditors are measured at transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs. They are subsequently measured at amortised cost.

Debtors
Short term debtors are measured at transaction price, less any impairment.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 December 2022
and 30 November 2023 101,720
AMORTISATION
At 1 December 2022 44,218
Charge for year 10,173
At 30 November 2023 54,391
NET BOOK VALUE
At 30 November 2023 47,329
At 30 November 2022 57,502

MEDIBORD LIMITED (REGISTERED NUMBER: 07068816)

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


5. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 December 2022 20,158
Additions 3,993
At 30 November 2023 24,151
DEPRECIATION
At 1 December 2022 12,171
Charge for year 2,996
At 30 November 2023 15,167
NET BOOK VALUE
At 30 November 2023 8,984
At 30 November 2022 7,987

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,745 1,602
Other debtors 1,470 1,470
Prepayments and accrued income 7,414 3,483
11,629 6,555

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 1,919 17,435
Social security and other taxes 996 1,549
VAT 2,194 3,400
Other creditors 17,841 17,058
Directors' current accounts 17,349 1,018
Accruals and deferred income 1,644 1,579
41,943 42,039

8. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2023 2022
value: £    £   
2,325 Share capital 1 £1 2,325 2,325