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REGISTERED NUMBER: 08162245 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 July 2024

for

MedChemica Limited

MedChemica Limited (Registered number: 08162245)






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




Page

Balance Sheet 1

Notes to the Financial Statements 2


MedChemica Limited (Registered number: 08162245)

Balance Sheet
31 July 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,268 6,522
Investments 5 - 1
5,268 6,523

CURRENT ASSETS
Debtors 6 129,405 117,090
Cash at bank 350,439 351,359
479,844 468,449
CREDITORS
Amounts falling due within one year 7 23,321 91,588
NET CURRENT ASSETS 456,523 376,861
TOTAL ASSETS LESS CURRENT LIABILITIES 461,791 383,384

PROVISIONS FOR LIABILITIES 1,317 1,239
NET ASSETS 460,474 382,145

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 460,471 382,142
SHAREHOLDERS' FUNDS 460,474 382,145

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 January 2025 and were signed on its behalf by:





Dr A G Dossetter - Director


MedChemica Limited (Registered number: 08162245)

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

1. STATUTORY INFORMATION

MedChemica Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 08162245

Registered office: Ebenezer House
Ryecroft
Newcastle
Staffordshire
ST5 2BE

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Preparation of consolidated financial statements
The financial statements contain information about MedChemica Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised as the company becomes entitled to consideration for the services supplied. Therefore, turnover also includes the element of work completed but not yet invoiced.

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 - 33% on cost
Computer equipment - 33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

MedChemica Limited (Registered number: 08162245)

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

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 11 (2023 - 11 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 August 2023 6,044 32,503 38,547
Additions 2,074 3,317 5,391
At 31 July 2024 8,118 35,820 43,938
DEPRECIATION
At 1 August 2023 4,488 27,537 32,025
Charge for year 1,734 4,911 6,645
At 31 July 2024 6,222 32,448 38,670
NET BOOK VALUE
At 31 July 2024 1,896 3,372 5,268
At 31 July 2023 1,556 4,966 6,522

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 August 2023 1
Disposals (1 )
At 31 July 2024 -
NET BOOK VALUE
At 31 July 2024 -
At 31 July 2023 1

MedChemica Limited (Registered number: 08162245)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 91,060 -
Other debtors 38,345 117,090
129,405 117,090

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 21,057 19,447
Other creditors 2,264 72,141
23,321 91,588

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Medchemica Holdings Limited by virtue of 100% of the voting share capital.