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Company Registration No. 05028725 (England and Wales)
MEDS4U LIMITED UNAUDITED FINANCIAL STATEMENTS for the year ended 30 April 2024
MEDS4U LIMITED UNAUDITED FINANCIAL STATEMENTS Contents
Page
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MEDS4U LIMITED Company Information for the year ended 30 April 2024
Director
Mr Kashif Akhtar
Company Number
05028725 (England and Wales)
Registered Office
12 DELAMERE GARDENS HUDDERSFIELD HD2 2AW ENGLAND
Accountants
Account2u Limited (trading as ARIS Accountancy) 44 SPRINGBANK ROAD HUDDERSFIELD HD2 1XX
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MEDS4U LIMITED Statement of financial position as at 30 April 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
1,200,000 
1,200,000 
Tangible assets
333,065 
349,084 
1,533,065 
1,549,084 
Current assets
Inventories
31,460 
38,425 
Debtors
107,481 
105,859 
Cash at bank and in hand
77,478 
248,360 
216,419 
392,644 
Creditors: amounts falling due within one year
(164,069)
(195,082)
Net current assets
52,350 
197,562 
Total assets less current liabilities
1,585,415 
1,746,646 
Creditors: amounts falling due after more than one year
(821,682)
(1,071,619)
Net assets
763,733 
675,027 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
763,732 
675,026 
Shareholders' funds
763,733 
675,027 
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 26 January 2025 and were signed on its behalf by
Mr Kashif Akhtar Director Company Registration No. 05028725
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MEDS4U LIMITED Notes to the Accounts for the year ended 30 April 2024
1
Statutory information
MEDS4U LIMITED is a private company, limited by shares, registered in England and Wales, registration number 05028725. The registered office is 12 DELAMERE GARDENS, HUDDERSFIELD, HD2 2AW, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
over 5 years
Motor vehicles
over 5 years
Fixtures & fittings
over 5 years
Computer equipment
over 5 years
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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.
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MEDS4U LIMITED Notes to the Accounts for the year ended 30 April 2024
Taxation
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.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 May 2023
1,200,000 
At 30 April 2024
1,200,000 
Amortisation
At 1 May 2023
- 
At 30 April 2024
- 
Net book value
At 30 April 2024
1,200,000 
At 30 April 2023
1,200,000 
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At cost 
At 1 May 2023
225,000 
111,537 
194,653 
6,007 
9,831 
547,028 
Additions
100,000 
- 
3,416 
- 
1,332 
104,748 
Disposals
(95,000)
- 
- 
- 
- 
(95,000)
At 30 April 2024
230,000 
111,537 
198,069 
6,007 
11,163 
556,776 
Depreciation
At 1 May 2023
- 
95,252 
94,119 
2,575 
5,998 
197,944 
Charge for the year
- 
3,257 
20,790 
687 
1,033 
25,767 
At 30 April 2024
- 
98,509 
114,909 
3,262 
7,031 
223,711 
Net book value
At 30 April 2024
230,000 
13,028 
83,160 
2,745 
4,132 
333,065 
At 30 April 2023
225,000 
16,285 
100,534 
3,432 
3,833 
349,084 
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MEDS4U LIMITED Notes to the Accounts for the year ended 30 April 2024
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
2,840 
(1,069)
Trade debtors
99,641 
101,928 
Other debtors
5,000 
5,000 
107,481 
105,859 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
16,900 
16,900 
Trade creditors
146,806 
152,721 
Taxes and social security
14 
25,102 
Other creditors
349 
359 
164,069 
195,082 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
39,219 
56,154 
Other creditors
783,371 
1,000,271 
Loans from directors
(908)
15,194 
821,682 
1,071,619 
9
Average number of employees
During the year the average number of employees was 7 (2023: 7).
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