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REGISTERED NUMBER: 08090124 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

MEDICAL AID OVERSEAS LIMITED

MEDICAL AID OVERSEAS LIMITED (REGISTERED NUMBER: 08090124)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MEDICAL AID OVERSEAS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr T Beacon
Mrs S Beacon





REGISTERED OFFICE: Room 73, Wrest House
Wrest Park
Silsoe
Bedford
Bedfordshire
MK45 4HR





REGISTERED NUMBER: 08090124 (England and Wales)





ACCOUNTANTS: MDG Business Associates Limited
Room 73
Wrest House
Wrest Park
Silsoe
Bedfordshire
MK45 4HR

MEDICAL AID OVERSEAS LIMITED (REGISTERED NUMBER: 08090124)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 47,897 36,043

CURRENT ASSETS
Stocks 342,567 124,191
Debtors 6 244,007 1,310,984
Cash at bank and in hand 739 1,093
587,313 1,436,268
CREDITORS
Amounts falling due within one year 7 600,981 1,439,188
NET CURRENT LIABILITIES (13,668 ) (2,920 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

34,229

33,123

CREDITORS
Amounts falling due after more than one year 8 (15,833 ) (25,833 )

PROVISIONS FOR LIABILITIES 9 (10,201 ) (5,415 )
NET ASSETS 8,195 1,875

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 8,193 1,873
8,195 1,875

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.

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 13 March 2025 and were signed on its behalf by:





Mr T Beacon - Director


MEDICAL AID OVERSEAS LIMITED (REGISTERED NUMBER: 08090124)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Medical Aid Overseas 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.

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


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance and 10% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% 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.

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.

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.

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.

Business bounce back loan scheme
The Bounce Back Loan Scheme (BBLS) enables smaller businesses to access finance more quickly during the coronavirus outbreak. The scheme helps small and medium-sized businesses to borrow between £2,000 and up to 25% of their turnover. The maximum loan available is £50,000. The government guarantees 100% of the loan and there are no fees or interest to pay for the first 12 months. After 12 months the interest rate will be 2.5% a year.

MEDICAL AID OVERSEAS LIMITED (REGISTERED NUMBER: 08090124)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
Cost
At 1 April 2023 8,127 7,778 38,785 53,658 108,348
Additions 23,796 1,731 - 5,525 31,052
Disposals - - - (2,059 ) (2,059 )
At 31 March 2024 31,923 9,509 38,785 57,124 137,341
Depreciation
At 1 April 2023 2,667 4,325 19,378 45,935 72,305
Charge for year 3,745 1,152 4,852 8,076 17,825
Eliminated on disposal - - - (686 ) (686 )
At 31 March 2024 6,412 5,477 24,230 53,325 89,444
Net book value
At 31 March 2024 25,511 4,032 14,555 3,799 47,897
At 31 March 2023 5,460 3,453 19,407 7,723 36,043

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 93,508 1,197,636
Amounts owed by associates 4,900 -
Other debtors 58,317 85,891
VAT 36,323 27,337
Prepayments and accrued income 50,959 120
244,007 1,310,984

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 61,443 59,602
Trade creditors 416,212 158,906
Amounts owed to associates 55,540 71,907
Tax 40,893 29,441
Other creditors 25,111 24,930
Accruals and deferred income 1,782 1,094,402
600,981 1,439,188

The bank overdraft is secured by way of a debenture incorporating a fixed and floating charge over the assets and undertakings of the company.

During a prior year, the company undertook a Business Bounce Back Loan. No interest was payable in year 1, being charged at 2.5% per annum thereafter. The loan is unsecured, being guaranteed in full by the government under the Business Bounce Back Loan facility.

MEDICAL AID OVERSEAS LIMITED (REGISTERED NUMBER: 08090124)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 5,833 15,833
15,833 25,833

During a prior year, the company undertook a Business Bounce Back Loan. No interest was payable in year 1, being charged at 2.5% per annum thereafter. The loan is unsecured, being guaranteed in full by the government under the Business Bounce Back Loan facility.

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 10,201 5,415

Deferred
tax
£   
Balance at 1 April 2023 5,415
Capital allowances in excess
of depreciation 4,786
Balance at 31 March 2024 10,201

10. RELATED PARTY DISCLOSURES

No one entity has control or ultimate control of the company.

Within other debtors is an amount of £58,317 (2023: £80,061) due from TR Beacon and S E Beacon, directors. During the year advances of £119,262 (2023: £131,765) and repayments of £142,150 (2023: £168,542) were made in respect of this loan. Interest of £1,144 (2023: £1,589) has been charged on this balance during the year at 2%. The loan was repaid in full on 31st December 2024.

During the year the company paid a management charge of £201,395 (2023: £114.976) to Medical Aid International CIC, a company under common directors. At 31st March 2024 the company was owed an amount of £4,900 (2023: creditor of £18,060) from Medical Aid International CIC. No interest has been charged on the outstanding balance during the year (2023: £Nil) and there are no set repayment terms in place.

At 31st March 2024 the company owed £55,540 (2023: £53,847) to Orthopaedics International Limited. a company under common control. No interest has been charged on the outstanding balance during the year (2023: £Nil) and there are no set repayment terms in place.