2023-04-012024-03-312024-03-31false07393229MEDICSTAR (UK) 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MEDICSTAR (UK) LIMITED

Registered Number
07393229
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

MEDICSTAR (UK) LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

RAJ, Kirubananthini Kamal

Registered Address

Pelican Pharmacy 405 Stockport Road
Timperley
Altrincham
WA15 7XR

Registered Number

07393229 (England and Wales)
MEDICSTAR (UK) LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets311
Tangible assets432,89643,290
32,89743,291
Current assets
Stocks515,77112,008
Debtors6155,986344,476
Cash at bank and on hand24,284272,054
196,041628,538
Creditors amounts falling due within one year7(237,872)(645,251)
Net current assets (liabilities)(41,831)(16,713)
Total assets less current liabilities(8,934)26,578
Creditors amounts falling due after one year8-(23,752)
Provisions for liabilities9(9,560)-
Net assets(18,494)2,826
Capital and reserves
Called up share capital100100
Profit and loss account(18,594)2,726
Shareholders' funds(18,494)2,826
The financial statements were approved and authorised for issue by the Director on 24 March 2025, and are signed on its behalf by:
RAJ, Kirubananthini Kamal
Director
Registered Company No. 07393229
MEDICSTAR (UK) LIMITED
Notes to the Financial Statements
for the year ended 31 March 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).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
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
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
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.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
Tangible fixed assets are initially stated at cost and subsequently at cost less depreciation. Depreciation is provided on all tangible fixed assets as follows

Straight line (years)
Land and buildings50
Plant and machinery5
Fixtures and fittings5
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).
Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortized cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortized. Classification of financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Basic financial liabilities Basic financial liabilities, including creditors, loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortized. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortized cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20242023
Average number of employees during the year88
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 April 23269,998269,998
At 31 March 24269,998269,998
Amortisation and impairment
At 01 April 23269,997269,997
At 31 March 24269,997269,997
Net book value
At 31 March 2411
At 31 March 2311
4.Tangible fixed assets

Land & buildings

Plant & machinery

Total

£££
Cost or valuation
At 01 April 23194,29094,291
Additions-457457
At 31 March 24194,74794,748
Depreciation and impairment
At 01 April 23-51,00151,001
Charge for year-10,85110,851
At 31 March 24-61,85261,852
Net book value
At 31 March 24132,89532,896
At 31 March 23143,28943,290
5.Stocks

2024

2023

££
Raw materials and consumables15,77112,008
Total15,77112,008
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables73,206-
Other debtors70,651344,476
Prepayments and accrued income12,129-
Total155,986344,476
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables72,86328,666
Bank borrowings and overdrafts-11,876
Taxation and social security9,83614,558
Other creditors151,621583,319
Accrued liabilities and deferred income3,5526,832
Total237,872645,251
8.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts-23,752
Total-23,752
9.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)9,560-
Total9,560-
10.Other commitments
LEASING AGREEMENTS: Minimum lease payments under non-cancellable operating leases fall due as follows: Due within one year: £30,000(2023: £30,000)
11.Related party transactions
Included in creditors due in 12 months is the amount due to the directors £1,528 (2023:£145,679)