Company registration number 13674741 (England and Wales)
MEDENT LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
MEDENT LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
MEDENT LTD
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
3
575,958
575,958
Current assets
Debtors
4
16,522
8,973
Cash at bank and in hand
341
2,805
16,863
11,778
Creditors: amounts falling due within one year
5
(57,418)
(44,343)
Net current liabilities
(40,555)
(32,565)
Total assets less current liabilities
535,403
543,393
Creditors: amounts falling due after more than one year
6
(530,236)
(538,226)
Net assets
5,167
5,167
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
5,067
5,067
Total equity
5,167
5,167

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 10 October 2024 and are signed on its behalf by:
Dr A  Akram
Director
Company registration number 13674741 (England and Wales)
MEDENT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

MEDENT Ltd is a private company limited by shares incorporated in England and Wales. The registered office is The Summit, Woodwater Park, Pynes Hill, Exeter, United Kingdom, EX2 5WS.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents income from investments and property. It is derived from ordinary activities net of VAT where applicable.

 

1.3
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.4
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
MEDENT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
3
Investment property
2024
£
Fair value
At 1 April 2023 and 31 March 2024
575,958

The fair value of the investment property has been arrived at on the basis of a valuation carried out by the directors.

 

The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
16,522
8,973
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
9,605
9,048
Amounts owed to group undertakings
46,163
32,606
Taxation and social security
-
0
1,189
Other creditors
1,650
1,500
57,418
44,343

Included within bank loans is £9,605 (2023: £9,048) which is a mortgage that is secured against the asset to which it relates and by way of a floating charge over the company and the other companies within the group.

6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
530,236
538,226

Included within bank loans is £530,236 (2023: £538,226) which is a mortgage that is secured against the asset to which it relates and by way of a floating charge over the company and the other companies within the group.

Creditors which fall due after five years are as follows:
2024
2023
£
£
Payable by instalments
484,067
494,733
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