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REGISTERED NUMBER: 12886938 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2023

for

MEDDICC Ltd

MEDDICC Ltd (Registered number: 12886938)

Contents of the Financial Statements
for the Year Ended 30 September 2023










Page

Balance Sheet 1

Notes to the Financial Statements 3


MEDDICC Ltd (Registered number: 12886938)

Balance Sheet
30 September 2023

30.9.23 30.9.22
Notes £ £
Fixed assets
Intangible assets 4 310,671 393
Tangible assets 5 52,339 45,948
Investments 6 22,106 17,399
385,116 63,740

Current assets
Debtors 7 604,118 187,942
Cash at bank 321,850 488,274
925,968 676,216
Creditors
Amounts falling due within one year 8 (1,109,623 ) (282,580 )
Net current (liabilities)/assets (183,655 ) 393,636
Total assets less current liabilities 201,461 457,376

Provisions for liabilities (6,645 ) -
Net assets 194,816 457,376

Capital and reserves
Called up share capital 106 100
Share premium 55,240 -
Retained earnings 139,470 457,276
194,816 457,376

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

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

MEDDICC Ltd (Registered number: 12886938)

Balance Sheet - continued
30 September 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 17 September 2024 and were signed on its behalf by:





Mr A C Whyte - Director


MEDDICC Ltd (Registered number: 12886938)

Notes to the Financial Statements
for the Year Ended 30 September 2023


1. 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.

2. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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

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 ten years.

Development costs 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 the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - Straight line over 3 years
Motor vehicles - 25% p.a. reducing balance
Computer equipment - Straight line over 3 years

MEDDICC Ltd (Registered number: 12886938)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023


2. Accounting policies - continued

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

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.


MEDDICC Ltd (Registered number: 12886938)

Notes to the Financial Statements - continued
for the Year Ended 30 September 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.

Research and development
Research expenses are charged to the profit and loss account when incurred. Development costs are capitalised as intangible assets only when there is an identifiable asset that can be completed and is expected to generate future economic benefits and when the cost of such an asset can be measured reliably.

Development costs will be amortised over the period to which it is expected to bring economic benefits to the company. This will commence when development has ceased and the product or service is brought into commercial use.

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 18 (2022 - 6 ) .

4. Intangible fixed assets
Patents and Development
licences costs Totals
£ £ £
Cost
At 1 October 2022 470 - 470
Additions - 387,906 387,906
At 30 September 2023 470 387,906 388,376
Amortisation
At 1 October 2022 77 - 77
Amortisation for year 47 77,581 77,628
At 30 September 2023 124 77,581 77,705
Net book value
At 30 September 2023 346 310,325 310,671
At 30 September 2022 393 - 393

MEDDICC Ltd (Registered number: 12886938)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023


5. Tangible fixed assets
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£ £ £ £
Cost
At 1 October 2022 12,033 47,490 14,772 74,295
Additions 14,707 - 20,212 34,919
Disposals (266 ) (100 ) - (366 )
At 30 September 2023 26,474 47,390 34,984 108,848
Depreciation
At 1 October 2022 4,622 16,301 7,424 28,347
Charge for year 8,825 7,774 11,662 28,261
Eliminated on disposal (89 ) (10 ) - (99 )
At 30 September 2023 13,358 24,065 19,086 56,509
Net book value
At 30 September 2023 13,116 23,325 15,898 52,339
At 30 September 2022 7,411 31,189 7,348 45,948

6. Fixed asset investments
Other
investments
£
Cost or valuation
At 1 October 2022 17,399
Revaluations 4,707
At 30 September 2023 22,106
Net book value
At 30 September 2023 22,106
At 30 September 2022 17,399

Cost or valuation at 30 September 2023 is represented by:

Other
investments
£
Valuation in 2023 4,707
Cost 17,399
22,106

MEDDICC Ltd (Registered number: 12886938)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023


7. Debtors: amounts falling due within one year
30.9.23 30.9.22
£ £
Trade debtors 516,381 185,900
Other debtors 87,737 2,042
604,118 187,942

8. Creditors: amounts falling due within one year
30.9.23 30.9.22
£ £
Trade creditors 31,400 22,519
Taxation and social security 52,543 148,062
Other creditors 1,025,680 111,999
1,109,623 282,580