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Registered number: 05147637









FEMCARE GROUP LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
FEMCARE GROUP LIMITED
REGISTERED NUMBER: 05147637

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 5 
21,317,332
21,317,332

  
21,317,332
21,317,332

Current assets
  

Cash at bank and in hand
 6 
8,937
8,937

  
8,937
8,937

Creditors: amounts falling due within one year
 7 
(20,640,396)
(20,640,396)

Net current liabilities
  
 
 
(20,631,459)
 
 
(20,631,459)

Total assets less current liabilities
  
685,873
685,873

  

Net assets
  
685,873
685,873


Capital and reserves
  

Called up share capital 
  
10,000
10,000

Share premium account
  
405,905
405,905

Profit and loss account
  
269,968
269,968

  
685,873
685,873


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
K L Cornwell
Director
Date: 25 September 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 1

 
FEMCARE GROUP LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£


At 1 January 2022
10,000
405,905
269,968
685,873


Comprehensive income for the year

Profit for the year
-
-
357,399
357,399
Total comprehensive income for the year
-
-
357,399
357,399


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(357,399)
(357,399)


Total transactions with owners
-
-
(357,399)
(357,399)



At 1 January 2023
10,000
405,905
269,968
685,873


Comprehensive income for the year

Profit for the year
-
-
2,340,294
2,340,294
Total comprehensive income for the year
-
-
2,340,294
2,340,294


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(2,340,294)
(2,340,294)


Total transactions with owners
-
-
(2,340,294)
(2,340,294)


At 31 December 2023
10,000
405,905
269,968
685,873


The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
FEMCARE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Femcare Group Limited, the Company, is a company incorporated in the United Kingdom under the Companies Act.
The Company is a private Company limited by shares and is registered in England and Wales. The address of the Company's registered office is 32 Premier Way, Romsey, Hampshire, SO51 9DQ.
The principal activity of the Company is that of a holding company. The principal activity of  its subsidiaries in the period under review was that of the global supply of medical implants, instrumentation, equipment and consumables, primarily in the fields of urology, gynaecology and general surgery. There were not any significant changes in the Group's principal activities in the year under review. The directors are not aware, as at the date of this report, of any significant changes in the Group's activities in the forthcoming year.
The accounts are presented in pounds sterling, which is the functional currency of the Company, and rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

There are no critical judgments or estimates that affect these financial statements.

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Going concern

After making enquiries, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing its financial statements.

Page 3

 
FEMCARE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees




The Company has no employees other than the directors, who did not receive any remuneration (2022 - £NIL).

Page 4

 
FEMCARE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Intangible assets




Patents

£



Cost


At 1 January 2023
200,000



At 31 December 2023

200,000



Amortisation


At 1 January 2023
200,000



At 31 December 2023

200,000



Net book value



At 31 December 2023
-



At 31 December 2022
-



Page 5

 
FEMCARE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
22,908,139



At 31 December 2023

22,908,139



Impairment


At 1 January 2023
1,590,807



At 31 December 2023

1,590,807



Net book value



At 31 December 2023
21,317,332



At 31 December 2022
21,317,332


6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
8,937
8,937



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
20,640,396
20,640,396


Page 6

 
FEMCARE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Controlling party

The company's immediate and ultimate parent company is Utah Medical Products, Inc., a company incorporated in the United States of America and listed on the NASDAQ stock exchange, registered office 7043 South 300 West, Midvale, UT 84047-1048.
The smallest and largest group in which the Company's financial statements are included are those of Utah Medical Products, Inc.


9.


Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 26 September 2024 by Anthony Campbell (Senior Statutory Auditor) on behalf of Nortons Assurance Limited.

Page 7