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REGISTERED NUMBER: 11937332 (England and Wales)








Financial Statements

for the Year Ended 30 June 2024

for

Multigate Medical Products UK Limited

Multigate Medical Products UK Limited (Registered number: 11937332)

Contents of the Financial Statements
for the Year Ended 30 June 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Multigate Medical Products UK Limited

Company Information
for the Year Ended 30 June 2024







DIRECTOR: B Chaisumdet





REGISTERED OFFICE: St Johns House
16 Church Street
Bromsgrove
Worcestershire
B61 8DN





REGISTERED NUMBER: 11937332 (England and Wales)





AUDITORS: Clay GBP Audit Limited
St Johns House
16 Church Street
Bromsgrove
Worcestershire
B61 8DN

Multigate Medical Products UK Limited (Registered number: 11937332)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investments 4 45 45

CURRENT ASSETS
Debtors 5 4,500,053 6,750,053
Cash at bank 102,912 112,442
4,602,965 6,862,495
CREDITORS
Amounts falling due within one year 6 3,657,363 5,907,045
NET CURRENT ASSETS 945,602 955,450
TOTAL ASSETS LESS CURRENT LIABILITIES 945,647 955,495

CAPITAL AND RESERVES
Called up share capital 7 10 10
Retained earnings 945,637 955,485
SHAREHOLDERS' FUNDS 945,647 955,495

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 director and authorised for issue on 20 February 2025 and were signed by:





B Chaisumdet - Director


Multigate Medical Products UK Limited (Registered number: 11937332)

Notes to the Financial Statements
for the Year Ended 30 June 2024


1. STATUTORY INFORMATION

Multigate Medical Products UK 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.

Going Concern
At the time of approving the financial statements, the Director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the Director continues to adopt the going concern basis of accounting in preparing the financial statements.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of a company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as an interest expense in the income statement.

Financial assets and liabilities
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs).

Trade debtors
Trade debtors are recognised initially at transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivable.

Trade creditors
Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as amounts falling due after more than one year.

Equity instruments
Equity instruments are measured at the fair value of the cash or other resources transferred or transferrable, net of the direct costs of issuing or receiving the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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.

Multigate Medical Products UK Limited (Registered number: 11937332)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


2. ACCOUNTING POLICIES - continued

Cash at bank and in hand
Cash and cash equivalents include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of twelve months or less.

Investments in associated undertakings
Investments in associated undertakings are included at cost.

3. EMPLOYEES AND DIRECTORS

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

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 July 2023
and 30 June 2024 45
NET BOOK VALUE
At 30 June 2024 45
At 30 June 2023 45

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by participating interests 4,500,000 6,750,000
Other debtors 53 53
4,500,053 6,750,053

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 318 -
Amounts owed to group undertakings 3,650,000 5,900,000
Taxation and social security 45 45
Other creditors 7,000 7,000
3,657,363 5,907,045

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10 Ordinary £1 10 10

Multigate Medical Products UK Limited (Registered number: 11937332)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Auditors' Report was unqualified.

Robert Kempson ACA (Senior Statutory Auditor)
for and on behalf of Clay GBP Audit Limited

9. RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption conferred within FRS102 section 33.1A not to disclose transactions between wholly owned members of the same group.

The company has a material interest in a related party. During the year, the company received £2,250,000 from the related party and as at 30 June 2024, the company was owed £4,500,000 (2023 - £6,750,000) by this related party.

No interest is charged on this loan and all amounts are repayable on demand.

10. CONTROLLING PARTY AND ULTIMATE HOLDING COMPANY

The controlling party and ultimate holding company is Multigate Medical Products Pty Ltd..

Multigate Medical Products Pty Ltd is registered in Australia, the registered office address being 27 Llewellyn Avenue, Villawood, New South Wales, Australia, 2163,