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MEDICINES 4 U LTD

Registered Number
05455835
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

MEDICINES 4 U LTD
Company Information
for the year from 1 June 2023 to 31 May 2024

Directors

Mr Anil Kumar Sharma
Mrs G Sharma

Registered Address

2nd Floor Grove House
55 Lowlands Road
Harrow
HA1 3AW

Registered Number

05455835 (England and Wales)
MEDICINES 4 U LTD
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3266,105179,182
Investments4380,986516,475
647,091695,657
Current assets
Stocks140,401120,961
Debtors53,028,0783,073,479
Cash at bank and on hand2,286,073710,616
5,454,5523,905,056
Creditors amounts falling due within one year6(1,078,666)(884,179)
Net current assets (liabilities)4,375,8863,020,877
Total assets less current liabilities5,022,9773,716,534
Creditors amounts falling due after one year7(32,709)-
Net assets4,990,2683,716,534
Capital and reserves
Called up share capital100100
Profit and loss account4,990,1683,716,434
Shareholders' funds4,990,2683,716,534
The financial statements were approved and authorised for issue by the Board of Directors on 21 January 2025, and are signed on its behalf by:
Mr Anil Kumar Sharma
Director
Registered Company No. 05455835
MEDICINES 4 U LTD
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-10
Fixtures and fittings25-
Vehicles25-
Office Equipment25-
Investments
Investments in subsidiary undertakings are recognised at cost.
Finance leases and hire purchase contracts
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year2625
3.Tangible fixed assets

Land & buildings

Vehicles

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 June 23292,45113,260243,70331,470580,884
Additions-117,72711,6206,852136,199
Disposals-(13,260)--(13,260)
At 31 May 24292,451117,727255,32338,322703,823
Depreciation and impairment
At 01 June 23156,2288,713214,07822,683401,702
Charge for year3,67230,3818,3653,26045,678
On disposals-(9,662)--(9,662)
At 31 May 24159,90029,432222,44325,943437,718
Net book value
At 31 May 24132,55188,29532,88012,379266,105
At 31 May 23136,2234,54729,6258,787179,182
4.Fixed asset investments

Investments in groups1

Other investments2

Total

£££
Cost or valuation
At 01 June 23142,839373,636516,475
Additions300-300
Disposals(135,789)-(135,789)
At 31 May 247,350373,636380,986
Net book value
At 31 May 247,350373,636380,986
At 31 May 23142,839373,636516,475

Notes

1Investments in group undertakings and participating interests
2Other investments other than loans
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables745,329763,007
Amounts owed by group undertakings-209,172
Other debtors2,268,6992,088,592
Prepayments and accrued income14,05012,708
Total3,028,0783,073,479
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables654,797557,779
Bank borrowings and overdrafts-3,034
Taxation and social security124,325187,184
Finance lease and HP contracts10,589-
Other creditors288,955136,182
Total1,078,666884,179
7.Creditors: amounts due after one year

2024

2023

££
Other creditors32,709-
Total32,709-
8.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts32,709-
9.Related party transactions
Included in other debtors is the following; Medicines Direct Ltd £1,446,801 (2023: £1,386,417), Medicines Plus Ltd £108,558 (2023: £126,558), there is common directorship in these companies. Directors' current account debit balance of £453,285 (2023: £367,970), this relates to both directors. Included in other creditors is £244,463 (2023: £97,486) owed to Online Prescriptions Ltd, there is a common directorship in these company.