Registered number
09904280
MEDSOLUTIONS (EUROPE) LIMITED
Filleted Accounts
6 November 2023
MEDSOLUTIONS (EUROPE) LIMITED
Registered number: 09904280
Balance Sheet
as at 6 November 2023
Notes 2023 2022
£ £
Current assets
Debtors 4 15,995 216,690
Cash at bank and in hand 440 103,521
16,435 320,211
Creditors: amounts falling due within one year 5 (153,177) (273,865)
Net current (liabilities)/assets (136,742) 46,346
Net (liabilities)/assets (136,742) 46,346
Capital and reserves
Called up share capital 200 200
Profit and loss account (136,942) 46,146
Shareholders' funds (136,742) 46,346
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Dr. Amrut Naik
Director
Approved by the board on 4 November 2024
MEDSOLUTIONS (EUROPE) LIMITED
Notes to the Accounts
for the period from 1 January 2023 to 6 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Changes in the accounting reference dates
During the year, the company changed its accounting reference date from 31 December to 6 Novemeber. As a result, the current financial statements cover an 10-month period from 1 January 2023 to 6 November 2023. The comparative figures cover a 6-month period ended 31 December 2022.
Going concern
The company has support from the shareholders for any funding requirements. The directors have confirmed continued support and consider the company retains sufficient working capital to continue trading for the foreseeable future. They continue to believe that the going concern basis of accounting is appropriate in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Research and development
Research and development expenditure is written off to the profit and loss account in the year in which it is incurred.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Audit information
The audit report is unqualified.
Senior statutory auditor: Devender Arora ACA
Firm: The Corporate Practice Limited
Date of audit report: 4 November 2024
3 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
4 Debtors 2023 2022
£ £
Trade debtors - 216,490
Other debtors 15,995 200
15,995 216,690
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 4,770 -
Taxation and social security costs - 11,057
Other creditors 148,407 262,808
153,177 273,865
6 Events after the reporting date
The company's entire share capital was acquired by Zydus Pharmaceuticals UK Limited after the close of business at 6 November 2023.
7 Related party transactions 2023 2022
£ £
L M Manufacturing Limited
Common director
During the year the company purchased services from L M Manufacturing Limited of: - 250,000
Included within other creditors is an amount payable of: 52,121 6,797
Liqmeds Lifecare Limited
Common director
During the year the company purchased services from Liqmeds Lifecare of: 75,000 -
Included within other creditors is an amount payable of: 90,000 -
Zydus Pharmaceuticals UK Limited
Common director
Included within other creditors is an amount payable of: 2,036 -
8 Controlling party
The company is not under the control of any single individual.
9 Other information
MEDSOLUTIONS (EUROPE) LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
65 Delamere Road
Hayes
Middlesex
UB4 0NN
MEDSOLUTIONS (EUROPE) LIMITED 09904280 false 2023-01-01 2023-11-06 2023-11-06 VT Final Accounts April 2024 Dr. Amrut Naik No description of principal activity 09904280 2022-07-01 2022-12-31 09904280 core:WithinOneYear 2022-12-31 09904280 core:ShareCapital 2022-12-31 09904280 core:RetainedEarningsAccumulatedLosses 2022-12-31 09904280 2023-01-01 2023-11-06 09904280 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-11-06 09904280 bus:Audited 2023-01-01 2023-11-06 09904280 bus:Director40 2023-01-01 2023-11-06 09904280 1 2023-01-01 2023-11-06 09904280 2 2023-01-01 2023-11-06 09904280 1 2023-01-01 2023-11-06 09904280 countries:England 2023-01-01 2023-11-06 09904280 bus:FRS102 2023-01-01 2023-11-06 09904280 bus:FilletedAccounts 2023-01-01 2023-11-06 09904280 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-11-06 09904280 2023-11-06 09904280 core:WithinOneYear 2023-11-06 09904280 core:ShareCapital 2023-11-06 09904280 core:RetainedEarningsAccumulatedLosses 2023-11-06 09904280 2022-12-31 iso4217:GBP xbrli:pure