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NEILMED LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023






NEILMED LIMITED (REGISTERED NUMBER: 05863333)






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


NEILMED LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Dr K Mehta
Ms. N Mehta





REGISTERED OFFICE: 221 Kenton Lane
Kenton
Harrow
Middlesex
HA3 8RP





REGISTERED NUMBER: 05863333 (England and Wales)





ACCOUNTANTS: Akshar & Company
Chartered Accountants
221 Kenton Lane
Harrow
Middlesex
HA3 8RP

NEILMED LIMITED (REGISTERED NUMBER: 05863333)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 762,269 26,455

CURRENT ASSETS
Stocks 4,295,335 1,542,314
Debtors 5 1,144,474 1,920,042
Cash at bank and in hand 695,810 1,454,197
6,135,619 4,916,553
CREDITORS
Amounts falling due within one year 6 3,659,749 2,425,641
NET CURRENT ASSETS 2,475,870 2,490,912
TOTAL ASSETS LESS CURRENT LIABILITIES 3,238,139 2,517,367

CREDITORS
Amounts falling due after more than one
year

7

630,905

-
NET ASSETS 2,607,234 2,517,367

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 2,607,134 2,517,267
SHAREHOLDERS' FUNDS 2,607,234 2,517,367

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.

NEILMED LIMITED (REGISTERED NUMBER: 05863333)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 September 2024 and were signed on its behalf by:




Dr K Mehta - Director



Ms. N Mehta - Director


NEILMED LIMITED (REGISTERED NUMBER: 05863333)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Neilmed 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 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - in accordance with the property
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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.

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 10 (2022 - 10 ) .

NEILMED LIMITED (REGISTERED NUMBER: 05863333)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Short Plant and Motor Computer
leasehold machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 - 45,919 12,000 1,450 59,369
Additions 853,715 - 20,943 - 874,658
At 31 December 2023 853,715 45,919 32,943 1,450 934,027
DEPRECIATION
At 1 January 2023 - 20,542 10,937 1,435 32,914
Charge for year 129,531 6,344 2,965 4 138,844
At 31 December 2023 129,531 26,886 13,902 1,439 171,758
NET BOOK VALUE
At 31 December 2023 724,184 19,033 19,041 11 762,269
At 31 December 2022 - 25,377 1,063 15 26,455

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 1,061,990 1,025,251
Other debtors 2,931 241
VAT 79,403 -
Prepayments 150 -
Rent deposit - 5,066
1,144,474 1,030,558

Amounts falling due after more than one year:
Other debtors - 889,484

Aggregate amounts 1,144,474 1,920,042

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 71,042 188,264
Tax 60,936 19,038
VAT - 15,583
Other creditors 2,242,010 638,071
Intercompany balances 948,928 1,035,346
Sundry creditors & accruals 336,833 529,339
3,659,749 2,425,641

NEILMED LIMITED (REGISTERED NUMBER: 05863333)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other creditors 630,905 -

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary £1 100 100

9. RESERVES
Retained
earnings
£   

At 1 January 2023 2,517,267
Profit for the year 89,867
At 31 December 2023 2,607,134