Silverfin false false 30/06/2024 01/07/2023 30/06/2024 Daniel Jonathan Gibson 01/01/2003 Brian Eric Hobbs 01/02/2011 Nathaniel Hobbs 01/12/2007 Robert Kieren Morgan 28 March 2025 The principal activities of the Company during the year were Healthcare Planning, Healthcare Design and Equipment and Technology services 02261276 2024-06-30 02261276 bus:Director1 2024-06-30 02261276 bus:Director2 2024-06-30 02261276 bus:Director3 2024-06-30 02261276 2023-06-30 02261276 core:CurrentFinancialInstruments 2024-06-30 02261276 core:CurrentFinancialInstruments 2023-06-30 02261276 core:Non-currentFinancialInstruments 2024-06-30 02261276 core:Non-currentFinancialInstruments 2023-06-30 02261276 core:ShareCapital 2024-06-30 02261276 core:ShareCapital 2023-06-30 02261276 core:CapitalRedemptionReserve 2024-06-30 02261276 core:CapitalRedemptionReserve 2023-06-30 02261276 core:RetainedEarningsAccumulatedLosses 2024-06-30 02261276 core:RetainedEarningsAccumulatedLosses 2023-06-30 02261276 core:ComputerSoftware 2023-06-30 02261276 core:PatentsTrademarksLicencesConcessionsSimilar 2023-06-30 02261276 core:ComputerSoftware 2024-06-30 02261276 core:PatentsTrademarksLicencesConcessionsSimilar 2024-06-30 02261276 core:LandBuildings 2023-06-30 02261276 core:Vehicles 2023-06-30 02261276 core:FurnitureFittings 2023-06-30 02261276 core:OfficeEquipment 2023-06-30 02261276 core:LandBuildings 2024-06-30 02261276 core:Vehicles 2024-06-30 02261276 core:FurnitureFittings 2024-06-30 02261276 core:OfficeEquipment 2024-06-30 02261276 bus:OrdinaryShareClass1 2024-06-30 02261276 2023-07-01 2024-06-30 02261276 bus:AbridgedAccounts 2023-07-01 2024-06-30 02261276 bus:SmallEntities 2023-07-01 2024-06-30 02261276 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 02261276 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 02261276 bus:Director1 2023-07-01 2024-06-30 02261276 bus:Director2 2023-07-01 2024-06-30 02261276 bus:Director3 2023-07-01 2024-06-30 02261276 bus:Director4 2023-07-01 2024-06-30 02261276 core:ComputerSoftware core:TopRangeValue 2023-07-01 2024-06-30 02261276 core:LandBuildings core:TopRangeValue 2023-07-01 2024-06-30 02261276 core:Vehicles core:TopRangeValue 2023-07-01 2024-06-30 02261276 core:FurnitureFittings 2023-07-01 2024-06-30 02261276 core:OfficeEquipment 2023-07-01 2024-06-30 02261276 2022-07-01 2023-06-30 02261276 core:ComputerSoftware 2023-07-01 2024-06-30 02261276 core:PatentsTrademarksLicencesConcessionsSimilar 2023-07-01 2024-06-30 02261276 core:LandBuildings 2023-07-01 2024-06-30 02261276 core:Vehicles 2023-07-01 2024-06-30 02261276 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 02261276 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 02261276 (England and Wales)

MARTIN JAMES MEDICAL LIMITED

Abridged Unaudited Financial Statements
For the financial year ended 30 June 2024

MARTIN JAMES MEDICAL LIMITED

Abridged Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

MARTIN JAMES MEDICAL LIMITED

COMPANY INFORMATION

For the financial year ended 30 June 2024
MARTIN JAMES MEDICAL LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 June 2024
DIRECTORS Daniel Jonathan Gibson
Brian Eric Hobbs
Nathaniel Hobbs
Robert Kieren Morgan
REGISTERED OFFICE St Pirans House Truro Technology Park
Heron Way
Newham
Truro
TR1 2XN
United Kingdom
COMPANY NUMBER 02261276 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Lowin House
Tregolls Road
Truro
Cornwall TR1 2NA
MARTIN JAMES MEDICAL LIMITED

BALANCE SHEET

As at 30 June 2024
MARTIN JAMES MEDICAL LIMITED

BALANCE SHEET (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 44,290 53,073
Tangible assets 4 794,011 799,639
838,301 852,712
Current assets
Debtors 537,164 368,232
Cash at bank and in hand 434,540 768,535
971,704 1,136,767
Creditors: amounts falling due within one year ( 278,447) ( 316,078)
Net current assets 693,257 820,689
Total assets less current liabilities 1,531,558 1,673,401
Creditors: amounts falling due after more than one year ( 252,004) ( 305,261)
Provision for liabilities ( 14,511) ( 11,581)
Net assets 1,265,043 1,356,559
Capital and reserves
Called-up share capital 5 1,000 1,000
Capital redemption reserve 1,000 1,000
Profit and loss account 1,263,043 1,354,559
Total shareholders' funds 1,265,043 1,356,559

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Martin James Medical Limited (registered number: 02261276) were approved and authorised for issue by the Board of Directors on 28 March 2025. They were signed on its behalf by:

Nathaniel Hobbs
Director
MARTIN JAMES MEDICAL LIMITED

NOTES TO THE ABRIDGED FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
MARTIN JAMES MEDICAL LIMITED

NOTES TO THE ABRIDGED FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Martin James Medical Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is St Pirans House Truro Technology Park, Heron Way, Newham, Truro, TR1 2XN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date.

Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Computer software 5 years straight line
Trademarks, patents and licences not amortised
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Vehicles 7 years straight line
Fixtures and fittings 15 - 20 % reducing balance
Office equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

The Company as lessor
Amounts due from lessees under finance leases are recognised as receivables at the amount of the company’s net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the company’s net investment outstanding in respect of leases.

Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 20 18

3. Intangible assets

Computer software Trademarks, patents
and licences
Total
£ £ £
Cost
At 01 July 2023 237,638 590 238,228
At 30 June 2024 237,638 590 238,228
Accumulated amortisation
At 01 July 2023 185,155 0 185,155
Charge for the financial year 8,783 0 8,783
At 30 June 2024 193,938 0 193,938
Net book value
At 30 June 2024 43,700 590 44,290
At 30 June 2023 52,483 590 53,073

4. Tangible assets

Land and buildings Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £
Cost
At 01 July 2023 966,654 580 165,221 253,562 1,386,017
Additions 0 0 6,171 17,362 23,533
Disposals 0 0 0 ( 170) ( 170)
At 30 June 2024 966,654 580 171,392 270,754 1,409,380
Accumulated depreciation
At 01 July 2023 222,500 580 144,292 219,006 586,378
Charge for the financial year 15,000 0 3,856 10,257 29,113
Disposals 0 0 0 ( 122) ( 122)
At 30 June 2024 237,500 580 148,148 229,141 615,369
Net book value
At 30 June 2024 729,154 0 23,244 41,613 794,011
At 30 June 2023 744,154 0 20,929 34,556 799,639

5. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each 1,000 1,000

6. Related party transactions

Other related party transactions

2024 2023
£ £
Director 1 5,185 11,991

The capital loan is over an agreed 10 year term at a rate of 3 percent.