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REGISTERED NUMBER: 04179199 (England and Wales)















Financial Statements for the Year Ended 31 March 2024

for

Medicines For Life Limited

Medicines For Life Limited (Registered number: 04179199)






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


Medicines For Life Limited

Company Information
for the year ended 31 March 2024







DIRECTORS: R M Morjaria
Mrs H R Morjaria



REGISTERED OFFICE: 99 Ford Green Road
Smallthorne
Stoke on Trent
ST6 1NT



REGISTERED NUMBER: 04179199 (England and Wales)



ACCOUNTANTS: Sachdev & Co
Chartered Accountants
5 Albany Road
Earlsdon
Coventry
West Midlands
CV5 6JQ



BANKERS: Santander UK plc
Bootle
Merseyside
L30 4GB

Medicines For Life Limited (Registered number: 04179199)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 709,354 685,629
709,354 685,629

CURRENT ASSETS
Stocks 6 41,405 44,944
Debtors 7 202,222 230,052
Cash at bank and in hand 45,816 5,659
289,443 280,655
CREDITORS
Amounts falling due within one year 8 480,813 451,216
NET CURRENT LIABILITIES (191,370 ) (170,561 )
TOTAL ASSETS LESS CURRENT LIABILITIES 517,984 515,068

CREDITORS
Amounts falling due after more than one year 9 24,167 34,167
NET ASSETS 493,817 480,901

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 493,815 480,899
SHAREHOLDERS' FUNDS 493,817 480,901

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.

Medicines For Life Limited (Registered number: 04179199)

Balance Sheet - 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 Board of Directors and authorised for issue on 31 December 2024 and were signed on its behalf by:





R M Morjaria - Director


Medicines For Life Limited (Registered number: 04179199)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Medicines For Life 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
Acquired goodwill is not written off in equal annual instalments over its estimated useful economic life.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 10% on cost
Motor vehicles - 20% 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 1,000,000
AMORTISATION
At 1 April 2023
and 31 March 2024 1,000,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

Medicines For Life Limited (Registered number: 04179199)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2023 608,434 102,493 141,965 852,892
Additions - - 45,078 45,078
Disposals - - (29,451 ) (29,451 )
At 31 March 2024 608,434 102,493 157,592 868,519
DEPRECIATION
At 1 April 2023 - 100,994 66,269 167,263
Charge for year - 167 21,186 21,353
Eliminated on disposal - - (29,451 ) (29,451 )
At 31 March 2024 - 101,161 58,004 159,165
NET BOOK VALUE
At 31 March 2024 608,434 1,332 99,588 709,354
At 31 March 2023 608,434 1,499 75,696 685,629

6. STOCKS
2024 2023
£    £   
Stocks 41,405 44,944

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
VAT 17,598 21,799
Prepayments 184,624 208,253
202,222 230,052

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Corporation tax 2,331 12,031
PAYE account (1,890 ) (11,483 )
Credit card account 4,082 3,941
Directors' current accounts 388,293 417,810
Accruals 87,997 28,917
480,813 451,216

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loan 24,167 34,167