Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-31false2023-06-01No description of principal activity55falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11372524 2023-06-01 2024-05-31 11372524 2022-06-01 2023-05-31 11372524 2024-05-31 11372524 2023-05-31 11372524 c:Director1 2023-06-01 2024-05-31 11372524 c:Director2 2023-06-01 2024-05-31 11372524 c:RegisteredOffice 2023-06-01 2024-05-31 11372524 d:OfficeEquipment 2023-06-01 2024-05-31 11372524 d:OfficeEquipment 2024-05-31 11372524 d:OfficeEquipment 2023-05-31 11372524 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 11372524 d:ComputerEquipment 2023-06-01 2024-05-31 11372524 d:ComputerEquipment 2024-05-31 11372524 d:ComputerEquipment 2023-05-31 11372524 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 11372524 d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 11372524 d:Goodwill 2023-06-01 2024-05-31 11372524 d:Goodwill 2024-05-31 11372524 d:Goodwill 2023-05-31 11372524 d:CurrentFinancialInstruments 2024-05-31 11372524 d:CurrentFinancialInstruments 2023-05-31 11372524 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 11372524 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 11372524 d:ShareCapital 2024-05-31 11372524 d:ShareCapital 2023-05-31 11372524 d:RetainedEarningsAccumulatedLosses 2024-05-31 11372524 d:RetainedEarningsAccumulatedLosses 2023-05-31 11372524 c:OrdinaryShareClass1 2023-06-01 2024-05-31 11372524 c:OrdinaryShareClass1 2024-05-31 11372524 c:OrdinaryShareClass1 2023-05-31 11372524 c:FRS102 2023-06-01 2024-05-31 11372524 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 11372524 c:FullAccounts 2023-06-01 2024-05-31 11372524 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 11372524 2 2023-06-01 2024-05-31 11372524 d:Goodwill d:OwnedIntangibleAssets 2023-06-01 2024-05-31 11372524 e:PoundSterling 2023-06-01 2024-05-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11372524









MEDLIST INTERNATIONAL LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2024

 
MEDLIST INTERNATIONAL LIMITED
 
 
COMPANY INFORMATION


Directors
Joanna Rosenwold 
Paul Nash 




Registered number
11372524



Registered office
18a/20 King Street
Maidenhead

Berkshire

United Kingdom

SL6 1EF




Accountants
Donald Reid Limited

18a/20 King Street

Maidenhead

Berkshire

United Kingdom

SL6 1EF





 
MEDLIST INTERNATIONAL LIMITED
 

CONTENTS



Page
Balance Sheet
1 - 2
Notes to the Financial Statements
3 - 9

 
MEDLIST INTERNATIONAL LIMITED
REGISTERED NUMBER: 11372524

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
520,000
650,000

Tangible assets
 5 
14,062
18,183

  
534,062
668,183

Current assets
  

Debtors: amounts falling due within one year
 6 
88,232
128,008

Cash at bank and in hand
 7 
299,317
307,375

  
387,549
435,383

Creditors: amounts falling due within one year
 8 
(178,852)
(179,910)

Net current assets
  
 
 
208,697
 
 
255,473

Total assets less current liabilities
  
742,759
923,656

  

Net assets
  
742,759
923,656


Capital and reserves
  

Called up share capital 
 9 
100
100

Profit and loss account
  
742,659
923,556

  
742,759
923,656


Page 1

 
MEDLIST INTERNATIONAL LIMITED
REGISTERED NUMBER: 11372524
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024

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 income and retained earnings 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 30 October 2024.




Joanna Rosenwold
Director

The notes on pages 3 to 9 form part of these financial statements.
Page 2

 
MEDLIST INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

Medlist International Limited is a private company limited by shares. The company is incorporated in the United Kingdom and is registered in England and Wales. The registration number is 11372524. The company's registered office is 18a/20 King Street, Maidenhead, Berkshire, SL6 1EF. 

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 following principal accounting policies have been applied:

 
2.2

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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
MEDLIST INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

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

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

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 balance sheet date in the countries where the Company operates and generates income.

Page 4

 
MEDLIST INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.7

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Income and Retained Earnings over its useful economic life of ten years.

 
2.8

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 provided on the following basis:

Office equipment
-
25%
Reducing balance
Computer equipment
-
25%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted
prospectively if appropriate, or if there is an indication of a significant change since the last reporting
date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount
and are recognised in the Statement of income and retained earnings.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

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.

 
2.11

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.

Page 5

 
MEDLIST INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.12

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 average monthly number of employees, including directors, during the year was 5 (2023 - 5).


4.


Intangible assets




Goodwill

£



Cost


At 1 June 2023
1,300,000



At 31 May 2024

1,300,000



Amortisation


At 1 June 2023
650,000


Charge for the year on owned assets
130,000



At 31 May 2024

780,000



Net book value



At 31 May 2024
520,000



At 31 May 2023
650,000



Page 6

 
MEDLIST INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

5.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost or valuation


At 1 June 2023
4,667
52,756
57,423


Additions
215
1,951
2,166



At 31 May 2024

4,882
54,707
59,589



Depreciation


At 1 June 2023
1,647
37,593
39,240


Charge for the year on owned assets
791
5,496
6,287



At 31 May 2024

2,438
43,089
45,527



Net book value



At 31 May 2024
2,444
11,618
14,062



At 31 May 2023
3,020
15,163
18,183

Page 7

 
MEDLIST INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

6.


Debtors

2024
2023
£
£


Trade debtors
70,533
109,952

Other debtors
696
-

Prepayments and accrued income
17,003
18,056

88,232
128,008



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
299,317
307,375

Less: bank overdrafts
(6,056)
(3,084)

293,261
304,291



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
6,056
3,084

Trade creditors
165
2,620

Corporation tax
45,478
116,600

Other taxation and social security
30,326
29,170

Other creditors
96,827
38,231

Accruals and deferred income
-
(9,795)

178,852
179,910



9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100


Page 8

 
MEDLIST INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company and amounted to £121,741 (2023: £41,698). At the period end, included in other creditors, was £174 (2023: £309) payable to the fund. 


11.


Related party transactions

At the year end included in other creditors is £76,362 (2023: £18,848) owed by the company to the directors. 

 
Page 9