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DAN MEDICA SOUTH LIMITED

Registered Number
04373372
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

DAN MEDICA SOUTH LIMITED
Company Information
for the year from 1 March 2023 to 29 February 2024

Directors

Mr D Timm
Mrs L Timm

Registered Address

2 Upperton Gardens
Eastbourne
BN21 2AH

Registered Number

04373372 (England and Wales)
DAN MEDICA SOUTH LIMITED
Statement of Financial Position
29 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets34,4272,723
4,4272,723
Current assets
Stocks471,76742,961
Debtors15,89522,203
Cash at bank and on hand36,11331,656
123,77596,820
Creditors amounts falling due within one year5(36,686)(44,037)
Net current assets (liabilities)87,08952,783
Total assets less current liabilities91,51655,506
Provisions for liabilities6(841)(517)
Net assets90,67554,989
Capital and reserves
Called up share capital22
Profit and loss account90,67354,987
Shareholders' funds90,67554,989
The financial statements were approved and authorised for issue by the Board of Directors on 13 November 2024, and are signed on its behalf by:
Mrs L Timm
Director
Registered Company No. 04373372
DAN MEDICA SOUTH LIMITED
Notes to the Financial Statements
for the year ended 29 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The 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 od Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Revenue from sale of goods
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.
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.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. Timing differences arise from the inclusion of income and expenses in ta assessments in periods different fromthose 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 is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
Stocks and work in progress
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Government grants or assistance
Government grants are recognised under the accrual model with grants relating to revenue recognised in income on a systematic basis over the periods in which the entity recognised the related costs for which the grant is intended to compensate. A grant that becomes receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets shall be recognised in income on a systematic basis over the expected useful life of the asset.
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 March 2310,73410,734
Additions2,9002,900
Disposals(311)(311)
At 29 February 2413,32313,323
Depreciation and impairment
At 01 March 238,0118,011
Charge for year957957
On disposals(72)(72)
At 29 February 248,8968,896
Net book value
At 29 February 244,4274,427
At 28 February 232,7232,723
4.Stocks

2024

2023

££
Raw materials and consumables71,76742,961
Total71,76742,961
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables5,02231,424
Taxation and social security25,6974,210
Other creditors5,9678,403
Total36,68644,037
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.
6.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)841517
Total841517