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REGISTERED NUMBER: 09390744 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Medsolve (UK) Limited

Medsolve (UK) Limited (Registered number: 09390744)






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


Medsolve (UK) Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: S S Bahia
L Dodds
J Ramsay
I A Richardson
J P Day





REGISTERED OFFICE: 172 Front Street
Chester le Street
Co Durham
DH3 3AZ





REGISTERED NUMBER: 09390744 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
Kepier House
Belmont Business Park
Durham
DH1 1TW

Medsolve (UK) Limited (Registered number: 09390744)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 68,676 18,312
68,676 18,312

CURRENT ASSETS
Debtors 6 1,113,100 1,172,429
Cash at bank and in hand 304,587 371,501
1,417,687 1,543,930
CREDITORS
Amounts falling due within one year 7 268,714 423,087
NET CURRENT ASSETS 1,148,973 1,120,843
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,217,649

1,139,155

CREDITORS
Amounts falling due after more than one
year

8

(52,973

)

-

PROVISIONS FOR LIABILITIES 11 (2,872 ) (3,486 )
NET ASSETS 1,161,804 1,135,669

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 1,161,704 1,135,569
SHAREHOLDERS' FUNDS 1,161,804 1,135,669

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.

Medsolve (UK) Limited (Registered number: 09390744)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 April 2024 and were signed on its behalf by:





L Dodds - Director


Medsolve (UK) Limited (Registered number: 09390744)

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

1. STATUTORY INFORMATION

Medsolve (UK) 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

There were no material departures from the standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

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

Income recognition
Revenue from the provision of services is recognised once the service is completed.

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.

Computer software has been fully amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold improvements - 33% on cost
Plant and machinery - 25% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost
Computer equipment - 33% on cost

Tangible fixed assets are measured at cost less accumulated depreciation and impairment.

Government grants
Revenue based grants are credited to the profit and loss account in the period to which they relate.

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit and loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss account, 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.


Medsolve (UK) Limited (Registered number: 09390744)

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

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 291 (2022 - 145 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 January 2023
and 31 December 2023 5,826
AMORTISATION
At 1 January 2023
and 31 December 2023 5,826
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

Medsolve (UK) Limited (Registered number: 09390744)

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

5. TANGIBLE FIXED ASSETS
Fixtures
Leasehold Plant and and
improvements machinery fittings
£    £    £   
COST
At 1 January 2023 20,756 2,518 8,116
Additions 1,110 - -
At 31 December 2023 21,866 2,518 8,116
DEPRECIATION
At 1 January 2023 12,870 2,518 4,548
Charge for year 4,067 - 836
At 31 December 2023 16,937 2,518 5,384
NET BOOK VALUE
At 31 December 2023 4,929 - 2,732
At 31 December 2022 7,886 - 3,568

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 - 20,478 51,868
Additions 65,909 756 67,775
At 31 December 2023 65,909 21,234 119,643
DEPRECIATION
At 1 January 2023 - 13,620 33,556
Charge for year 8,788 3,720 17,411
At 31 December 2023 8,788 17,340 50,967
NET BOOK VALUE
At 31 December 2023 57,121 3,894 68,676
At 31 December 2022 - 6,858 18,312

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,013,057 1,034,633
Other debtors 22,012 16,058
Prepayments and accrued income 78,031 121,738
1,113,100 1,172,429

Medsolve (UK) Limited (Registered number: 09390744)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 9) 6,316 -
Trade creditors 2,283 6,000
Taxation and social security 191,565 297,710
Other creditors 10,657 37,828
Directors' current accounts 321 -
Accruals and deferred income 57,572 81,549
268,714 423,087

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts (see note 9) 52,973 -

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 6,316 -
Between one and five years 52,973 -
59,289 -

Non-cancellable operating leases
2023 2022
£    £   
Within one year 552 7,552
Between one and five years 138 810
690 8,362

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 59,289 -

Hire purchase contracts are secured on the assets to which they relate.

Medsolve (UK) Limited (Registered number: 09390744)

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

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 2,872 3,486

Deferred
tax
£   
Balance at 1 January 2023 3,486
Accelerated capital allowances (614 )
Balance at 31 December 2023 2,872

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
8,300 Ordinary A £0.01 83 83
1,700 Ordinary B £0.01 17 17
100 100

13. RELATED PARTY DISCLOSURES

2023 2022
£ £
Amounts due to directors 321 -
No interest has been charged.