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Registered Number: 05313281
England and Wales

 

 

 

MEDHURST (NORTH WEST) LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 January 2023

End date: 31 December 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 4 83,374    53,988 
83,374    53,988 
Current assets      
Stocks 5 2,502    50,051 
Debtors 6 207,096    122,352 
Investments 7 25,000   
Cash at bank and in hand 225,319    190,258 
459,917    362,661 
Creditors: amount falling due within one year 8 (236,269)   (178,490)
Net current assets 223,648    184,171 
 
Total assets less current liabilities 307,022    238,159 
Creditors: amount falling due after more than one year 9 (14,168)   (24,167)
Net assets 292,854    213,992 
 

Capital and reserves
     
Called up share capital 10 385    385 
Capital Redemption Reserve 11 285    285 
Profit and loss account 292,184    213,322 
Shareholders' funds 292,854    213,992 
 


For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 26 September 2024 and were signed by:


-------------------------------
A J Evans
Director
1
General Information
Medhurst (North West) Limited is a private company, limited by shares, registered in England and Wales, registration number 05313281, registration address 2nd Floor, 56 Hamilton Square, Birkenhead, Wirral, CH41 5AS. The trading address of the company is Frodsham Business Centre, Bridge Lane, Frodsham, Cheshire, WA6 7FZ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation for the year comprises current tax and is recognised in the Income Statement, and 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.

Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 10 years. Goodwill in the accounts has been fully amortised, in connection with the acquisition of a business in 2005.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 20% Reducing Balance
Fixtures and Fittings 25% Reducing Balance
Computer Equipment 33% Straight Line
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Current asset investments
Current asset investments are stated at the lower of cost and net realisable value.
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.

Average number of employees


Average number of employees during the year was 8 (2022 : 8).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 January 2023 24,500    24,500 
Additions  
Disposals  
At 31 December 2023 24,500    24,500 
Amortisation
At 01 January 2023 24,500    24,500 
Charge for year  
On disposals  
At 31 December 2023 24,500    24,500 
Net book values
At 31 December 2023  
At 31 December 2022  


4.

Tangible fixed assets

Cost or valuation Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 January 2023 79,572    13,422    21,786    114,780 
Additions 50,990    817      51,807 
Disposals      
At 31 December 2023 130,562    14,239    21,786    166,587 
Depreciation
At 01 January 2023 30,715    10,056    20,021    60,792 
Charge for year 19,970    1,046    1,405    22,421 
On disposals      
At 31 December 2023 50,685    11,102    21,426    83,213 
Net book values
Closing balance as at 31 December 2023 79,877    3,137    360    83,374 
Opening balance as at 01 January 2023 48,857    3,366    1,765    53,988 


5.

Stocks

2023
£
  2022
£
Stocks 2,502    50,051 
2,502    50,051 

6.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 164,935    94,196 
Prepayments & Accrued Income 651    1,218 
Other Debtors 9,178    8,086 
Director: A J Evans 32,332    18,852 
207,096    122,352 

7.

Investments

2023
£
  2022
£
Other Investments - Unlisted 25,000   
25,000   

8.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 130,354    116,557 
Bank Loans & Overdrafts 9,999    9,999 
Corporation Tax 55,864    20,391 
Accrued Expenses 2,084    2,297 
Deferred Income 1,476   
Other Creditors 17,484    10,405 
VAT 19,008    18,841 
236,269    178,490 
Bank Loans & Overdrafts comprise of a Bounce Back Loan.

9.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 14,168    24,167 
14,168    24,167 
Bank Loans & Overdrafts comprise of a Bounce Back Loan.

10.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
345 Ordinary A shares of £1.00 each 345    345 
40 Ordinary B shares of £1.00 each 40    40 
385    385 

11.

Capital Redemption Reserve

2023
£
  2022
£
Capital Redemption Reserve b/fwd 285    285 
285    285 

12.

Director’s loan

Advances and Credits

As at the year-end the director, A J Evans, owed the company £32,332 (2022 - £18,852). This balance is made up of varying and numerous amounts, none of which are material in nature. 
This unsecured advance is interest free, with no formal repayment schedule.
Particulars   Current
£
  2022
£
As at 1 January 2023 (18,852) (29,098)
Advanced (53,792) (9,754)
Repaid 40,312  20,000 
As at 31 December 2023 (32,332) (18,852)
2