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Registered number: 07458562














MEDIX MEDICAL SERVICES EUROPE LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

 
MEDIX MEDICAL SERVICES EUROPE LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
1 - 2
Notes to the Financial Statements
 
3 - 6


 
MEDIX MEDICAL SERVICES EUROPE LIMITED
REGISTERED NUMBER:07458562

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
7,990
10,653

Fixed asset investments
  
25,332
25,332

  
33,322
35,985

Current assets
  

Debtors: amounts falling due within one year
 6 
1,136,521
689,336

Bank and cash balances
  
67,846
346,344

  
1,204,367
1,035,680

Current liabilities
  

Creditors: amounts falling due within one year
 7 
(75,870)
(3,793)

Net current assets
  
 
 
1,128,497
 
 
1,031,887

  

Net assets
  
1,161,819
1,067,872


Capital and reserves
  

Called up share capital 
 8 
20
20

Profit and loss account
  
1,161,799
1,067,852

  
1,161,819
1,067,872


Page 1

 
MEDIX MEDICAL SERVICES EUROPE LIMITED
REGISTERED NUMBER:07458562
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 statement of comprehensive income 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 on 23 September 2024.




S Atzmon Lidar
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
MEDIX MEDICAL SERVICES EUROPE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Medix Medical Services Europe Limited is a limited liability company registered in England and Wales. Its registered office address is at Floor 4, 118 Piccadilly Street, Mayfair, London, W1J 7NW.
The principal activity of the Company during the year was that of healthcare management.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The Company is the parent undertaking of a small group and as such is not required by the Companies Act 2006 to prepare group accounts. These financial statements therefore present information about the Company as an individual undertaking and not about its group.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover comprises revenue recognised by the Company in respect of medical and non-medical related services supplied during the year, exclusive of Value Added Tax.
Revenue is recognised when the service is provided.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following bases.

Fixtures and fittings
-
25% reducing balance
Computer equipment
-
25% reducing balance

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.

 
2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 3

 
MEDIX MEDICAL SERVICES EUROPE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Basic financial instruments

The Company only enters into transactions that result in basic financial instruments such as trade and other debtors, trade and other creditors, cash at bank and in hand, loans to/from related parties.
Trade debtors, other debtors and loans to related parties are recognised initially at the transaction price less attributable transaction costs. Trade creditors, other creditors and loans from related parties are recognised initially at transaction price plus attributable transaction costs. Subsequently they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade and other debtors, and loans to related parties.
Interest bearing borrowings, such bank loans, classified as basic financial instruments are recognised initially at the present value of future payments discounted at a market rate of interest. Thereafter they are stated at amortised cost using the effective interest method.
Cash and cash equivalents comprise cash balances and call deposits. Bank overdrafts that are repayable on demand and form an integral part of the Company's cash management.

 
2.6

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.9

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Page 4

 
MEDIX MEDICAL SERVICES EUROPE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).


4.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 January 2023
14,595
74,476
89,071



At 31 December 2023

14,595
74,476
89,071



Depreciation


At 1 January 2023
12,856
65,562
78,418


Charge for the year on owned assets
435
2,228
2,663



At 31 December 2023

13,291
67,790
81,081



Net book value



At 31 December 2023
1,304
6,686
7,990



At 31 December 2022
1,739
8,914
10,653


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
25,332



At 31 December 2023
25,332




Page 5

 
MEDIX MEDICAL SERVICES EUROPE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
1,129,178
685,249

Other debtors
1,432
2,902

Prepayments and accrued income
5,911
1,185

1,136,521
689,336



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
47,832
315

Amounts owed to group undertakings
1
1

Other taxation and social security
27,084
-

Other creditors
953
253

Accruals and deferred income
-
3,224

75,870
3,793



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1,000 (2022 - 1,000) Ordinary-A shares of £0.01 each
10
10
1,000 (2022 - 1,000) Ordinary-B shares of £0.01 each
10
10

20

20



9.


Related party transactions

The Company forms part of a wholly-owned group and accordingly has taken advantage of the exemption allowed under section 33.1A of FRS 102 not to disclose transactions with other group companies.

 
Page 6