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REGISTERED NUMBER: 08570624 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Medi-Zen Healthcare Services Limited

Medi-Zen Healthcare Services Limited (Registered number: 08570624)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Medi-Zen Healthcare Services Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr Onkar Singh
Mr Harpal Singh Bhandal
Mr Jayesh Bachubhai Patel
Mrs Rajbir Kaur
Mrs Rekha Jayesh Patel
Ms Natasha Patel
Dr Jason Jayesh Patel





REGISTERED OFFICE: The Raven
Elder Road
Stoke-On-Trent
United Kingdom
ST6 2JF





REGISTERED NUMBER: 08570624 (England and Wales)





ACCOUNTANTS: Dhillon Accountants Limited
Chartered Accountants
Office 1
21 Hatherton Street
Walsall
WS4 2LA

Medi-Zen Healthcare Services Limited (Registered number: 08570624)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 1,401,734 1,512,069
Tangible assets 5 44,678 45,709
Investments 6 54,203 -
1,500,615 1,557,778

CURRENT ASSETS
Stocks 165,127 183,033
Debtors 7 633,237 317,353
Cash at bank and in hand 170,069 168,085
968,433 668,471
CREDITORS
Amounts falling due within one year 8 (831,303 ) (542,471 )
NET CURRENT ASSETS 137,130 126,000
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,637,745

1,683,778

CREDITORS
Amounts falling due after more than
one year

9

(642,370

)

(764,475

)

PROVISIONS FOR LIABILITIES (11,778 ) (11,428 )
NET ASSETS 983,597 907,875

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 983,297 907,575
983,597 907,875

Medi-Zen Healthcare Services Limited (Registered number: 08570624)

Balance Sheet - continued
31 March 2024


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 directors acknowledge their 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.

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 Board of Directors and authorised for issue on 30 October 2024 and were signed on its behalf by:





Mr Onkar Singh - Director


Medi-Zen Healthcare Services Limited (Registered number: 08570624)

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


1. STATUTORY INFORMATION

Medi-Zen Healthcare Services Limited 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of businesses is being amortised evenly over its estimated useful life of 20 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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 balance sheet date.


Medi-Zen Healthcare Services Limited (Registered number: 08570624)

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


2. ACCOUNTING POLICIES - continued
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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2023 - 29 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 2,206,703
AMORTISATION
At 1 April 2023 694,634
Amortisation for year 110,335
At 31 March 2024 804,969
NET BOOK VALUE
At 31 March 2024 1,401,734
At 31 March 2023 1,512,069

Medi-Zen Healthcare Services Limited (Registered number: 08570624)

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


5. TANGIBLE FIXED ASSETS
Fixtures
Short and Motor
leasehold fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2023 837 83,299 26,035 110,171
Additions - 408 10,790 11,198
Disposals - - (6,750 ) (6,750 )
At 31 March 2024 837 83,707 30,075 114,619
DEPRECIATION
At 1 April 2023 - 54,905 9,557 64,462
Charge for year - 4,309 4,650 8,959
Eliminated on disposal - - (3,480 ) (3,480 )
At 31 March 2024 - 59,214 10,727 69,941
NET BOOK VALUE
At 31 March 2024 837 24,493 19,348 44,678
At 31 March 2023 837 28,394 16,478 45,709

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
Additions 54,203
At 31 March 2024 54,203
NET BOOK VALUE
At 31 March 2024 54,203

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 298,444 265,906
Amounts owed by group undertakings 293,572 -
Other debtors 41,221 51,447
633,237 317,353

Medi-Zen Healthcare Services Limited (Registered number: 08570624)

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


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 124,245 81,610
Trade creditors 388,099 382,736
Taxation and social security 106,665 72,312
Other creditors 212,294 5,813
831,303 542,471

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 642,370 764,475

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Included in other creditors are the balances due to the companies mentioned below:

RVN Development Ltd ("RVN") £30,076 (2023 - £76)
First Health (Midlands) Ltd ("FHM") £120,000 (2023 - NIL)

The all above loans are interest free and repayable on demand.

Mr Onkar Singh, Mrs Rajbir Kaur and Mr Harpal Singh Bhandal were the directors of RVN & FHM as at 31 March 2024.