2023-06-012024-05-312024-05-31false07206448Medex (NW) 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Medex (NW) Limited

Registered Number
07206448
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

Medex (NW) Limited
Company Information
for the year from 1 June 2023 to 31 May 2024

Directors

Clare Smith
Robert Smith

Registered Address

6 Broadoaks Road
Sale
M33 7SR

Registered Number

07206448 (England and Wales)
Medex (NW) Limited
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets37,8605,238
7,8605,238
Current assets
Debtors456,90776,581
Cash at bank and on hand68,30295,036
125,209171,617
Creditors amounts falling due within one year5(28,574)(39,329)
Net current assets (liabilities)96,635132,288
Total assets less current liabilities104,495137,526
Provisions for liabilities6(1,493)(995)
Net assets103,002136,531
Capital and reserves
Called up share capital100100
Profit and loss account102,902136,431
Shareholders' funds103,002136,531
The financial statements were approved and authorised for issue by the Board of Directors on 28 November 2024, and are signed on its behalf by:
Clare Smith
Director
Robert Smith
Director

Registered Company No. 07206448
Medex (NW) Limited
Notes to the Financial Statements
for the year ended 31 May 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 compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
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 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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Trade and other 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.
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 June 2324,70024,700
Additions4,6004,600
At 31 May 2429,30029,300
Depreciation and impairment
At 01 June 2319,46219,462
Charge for year1,9781,978
At 31 May 2421,44021,440
Net book value
At 31 May 247,8607,860
At 31 May 235,2385,238
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables56,90776,581
Total56,90776,581
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.
5.Creditors: amounts due within one year

2024

2023

££
Taxation and social security25,20034,013
Other creditors7492,811
Accrued liabilities and deferred income2,6252,505
Total28,57439,329
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)1,493995
Total1,493995