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REGISTERED NUMBER: 06225395 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Medical Graphics UK Ltd

Medical Graphics UK Ltd (Registered number: 06225395)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Medical Graphics UK Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTOR: Mrs A J Chapman



REGISTERED OFFICE: Unit B, 6400 Severn Drive
Tewkesbury Business Park
Tewkesbury
Gloucestershire
GL20 8SF



REGISTERED NUMBER: 06225395 (England and Wales)



ACCOUNTANTS: HATS Gloucester Ltd
48 Hucclecote Road
Gloucester
Gloucestershire
GL3 3RS



BANKERS: Santander UK Plc
Bridle Road
Bootle
Merseyside
L30 4GB

Medical Graphics UK Ltd (Registered number: 06225395)

Statement of Financial Position
31 March 2024

31/3/24 31/3/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 56,351 36,827

CURRENT ASSETS
Stocks 402,314 352,250
Debtors 5 1,304,078 1,368,236
Cash at bank 829,850 642,946
2,536,242 2,363,432
CREDITORS
Amounts falling due within one year 6 1,596,335 1,570,790
NET CURRENT ASSETS 939,907 792,642
TOTAL ASSETS LESS CURRENT
LIABILITIES

996,258

829,469

PROVISIONS FOR LIABILITIES 14,088 9,207
NET ASSETS 982,170 820,262

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 982,169 820,261
SHAREHOLDERS' FUNDS 982,170 820,262

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Medical Graphics UK Ltd (Registered number: 06225395)

Statement of Financial Position - continued
31 March 2024


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 director and authorised for issue on 14 October 2024 and were signed by:





Mrs A J Chapman - Director


Medical Graphics UK Ltd (Registered number: 06225395)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Medical Graphics UK Ltd 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.
Plant and machinery - 33% on reducing balance
Fixtures and fittings - 33% on reducing balance
Motor vehicles - 25% on cost

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Medical Graphics UK Ltd (Registered number: 06225395)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 9 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
Cost
At 1 April 2023 33,808 12,447 37,872 84,127
Additions 9,998 2,842 21,355 34,195
At 31 March 2024 43,806 15,289 59,227 118,322
Depreciation
At 1 April 2023 26,530 10,049 10,721 47,300
Charge for year 4,099 1,295 9,277 14,671
At 31 March 2024 30,629 11,344 19,998 61,971
Net book value
At 31 March 2024 13,177 3,945 39,229 56,351
At 31 March 2023 7,278 2,398 27,151 36,827

5. DEBTORS
31/3/24 31/3/23
£    £   
Amounts falling due within one year:
Trade debtors 660,180 1,125,998
Amounts owed by group undertakings 343 343
Other debtors 585,469 183,809
1,245,992 1,310,150

Amounts falling due after more than one year:
Other debtors 58,086 58,086

Aggregate amounts 1,304,078 1,368,236

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade creditors 288,774 731,688
Taxation and social security 220,032 212,327
Other creditors 1,087,529 626,775
1,596,335 1,570,790

Medical Graphics UK Ltd (Registered number: 06225395)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31/3/24 31/3/23
£    £   
Within one year 99,625 120,335
Between one and five years 162,551 242,274
262,176 362,609

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

31/3/24 31/3/23
£    £   
N J Chapman and Mrs A J Chapman
Balance outstanding at start of year 172,108 -
Amounts advanced 407,389 172,108
Amounts repaid (547 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 578,950 172,108

The above loan to the directors, included within other debtors, was repaid within nine months of the accounting period end. Interest was charged at HM Revenue and Customs official rate of interest and amounted to £7,389 (2023 - £2,108).

9. RELATED PARTY DISCLOSURES

Chapman Management Services Ltd
A company controlled by the director Mrs A J Chapman

During the year, management fees of £541,062 (2023 - £328,000) were charged by Chapman Management Services Ltd.

The company rents a property owned by Chapman Management Services Ltd. Rent and service charges of £55,000 (2023 - £51,290) were paid during the year.

At 31 March 2024, the company owed Chapman Management Services Ltd £NIL (2023 - £6,000). The balance is interest free and has no fixed repayment terms.

Medical Graphics Holdings Limited
Parent company

At 31 March 2024, Medical Graphics Holdings Limited owed Medical Graphics UK Ltd £343 (2023 - £343). The balance is interest free and has no fixed repayment terms.

10. ULTIMATE CONTROLLING PARTY

The ultimate parent undertaking is Medical Graphics Holdings Limited, a company registered in England and Wales. The company is controlled by Mrs A J Chapman, director of Medical Graphics UK Ltd. Medical Graphics Holdings Limited, which shares the same registered office as Medical Graphics UK Ltd, has taken the option under Section 399(2A) of the Companies Act 2006 not to prepare consolidated financial statements.