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REGISTERED NUMBER: 10983766 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Agile Medical Ltd

Agile Medical Ltd (Registered number: 10983766)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Agile Medical Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: C Glass
Mrs A Glass
C Glass





REGISTERED OFFICE: Estate Road 2
South Humberside Industrial Estate
Grimsby
N E Lincolnshire
DN31 2TG





REGISTERED NUMBER: 10983766 (England and Wales)

Agile Medical Ltd (Registered number: 10983766)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 800,000 850,000
Tangible assets 5 257,080 236,352
1,057,080 1,086,352

CURRENT ASSETS
Stocks 516,539 618,189
Debtors 6 1,971,968 1,758,754
Cash at bank and in hand 110,666 259,002
2,599,173 2,635,945
CREDITORS
Amounts falling due within one year 7 307,594 211,320
NET CURRENT ASSETS 2,291,579 2,424,625
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,348,659

3,510,977

PROVISIONS FOR LIABILITIES 49,522 40,910
NET ASSETS 3,299,137 3,470,067

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 3,299,037 3,469,967
SHAREHOLDERS' FUNDS 3,299,137 3,470,067

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.

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 18 September 2024 and were signed on its behalf by:





C Glass - Director


Agile Medical Ltd (Registered number: 10983766)

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

1. STATUTORY INFORMATION

Agile Medical Ltd 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 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.

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.

Intellectual Property are being amortised evenly over their estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 20% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Agile Medical Ltd (Registered number: 10983766)

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

2. ACCOUNTING POLICIES - continued

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 11 (2022 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023
and 31 December 2023 1,000,000
AMORTISATION
At 1 January 2023 150,000
Charge for year 50,000
At 31 December 2023 200,000
NET BOOK VALUE
At 31 December 2023 800,000
At 31 December 2022 850,000

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 January 2023 36,223 136,112 1,295
Additions - 16,873 16,450
At 31 December 2023 36,223 152,985 17,745
DEPRECIATION
At 1 January 2023 13,846 25,420 345
Charge for year 7,234 19,739 3,219
At 31 December 2023 21,080 45,159 3,564
NET BOOK VALUE
At 31 December 2023 15,143 107,826 14,181
At 31 December 2022 22,377 110,692 950

Agile Medical Ltd (Registered number: 10983766)

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

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 109,536 16,570 299,736
Additions 41,995 3,999 79,317
At 31 December 2023 151,531 20,569 379,053
DEPRECIATION
At 1 January 2023 18,092 5,681 63,384
Charge for year 24,605 3,792 58,589
At 31 December 2023 42,697 9,473 121,973
NET BOOK VALUE
At 31 December 2023 108,834 11,096 257,080
At 31 December 2022 91,444 10,889 236,352

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 28,171
DEPRECIATION
At 1 January 2023 6,450
Charge for year 4,689
At 31 December 2023 11,139
NET BOOK VALUE
At 31 December 2023 17,032
At 31 December 2022 21,721

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 235,203 217,285
Other debtors 1,736,765 1,541,469
1,971,968 1,758,754

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 66,047 107,892
Taxation and social security 87,675 85,098
Other creditors 153,872 18,330
307,594 211,320

Agile Medical Ltd (Registered number: 10983766)

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

8. DIRECTORS' AND SHAREHOLDERS' ADVANCES AND CREDITS

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
C Glass and Mrs A Glass
Balance outstanding at start of year 796,385 (231 )
Amounts advanced 155,001 1,549,705
Amounts repaid (952,386 ) (753,089 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1,000 ) 796,385

C Glass
Balance outstanding at start of year - -
Amounts advanced 1,873 -
Amounts repaid (1,873 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -