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REGISTERED NUMBER: 01437361 (England and Wales)

























Unaudited Financial Statements for the Year Ended 31 December 2024

for

SCIMED LTD

SCIMED LTD (Registered number: 01437361)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 8


SCIMED LTD

Company Information
for the Year Ended 31 December 2024







DIRECTORS: J Booth
Dr A J Rucklidge
P D Vanden Branden





SECRETARY: Dr A J Rucklidge





REGISTERED OFFICE: Unit 4 The Embankment Business Park
Vale Road
Stockport
Cheshire
SK4 3GN





REGISTERED NUMBER: 01437361 (England and Wales)





ACCOUNTANTS: IN Accountancy Limited
2 Station View
Bramhall Moor Lane
Hazel Grove
Stockport
Cheshire
SK7 5ER

SCIMED LTD (Registered number: 01437361)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 30,957 38,489
Investments 5 530,794 -
561,751 38,489

CURRENT ASSETS
Stocks 1,659,441 1,451,915
Debtors 6 2,666,309 3,087,064
Cash at bank 201,419 103,240
4,527,169 4,642,219
CREDITORS
Amounts falling due within one year 7 3,324,266 3,120,258
NET CURRENT ASSETS 1,202,903 1,521,961
TOTAL ASSETS LESS CURRENT LIABILITIES 1,764,654 1,560,450

CREDITORS
Amounts falling due after more than one year 8 (312,908 ) (121,703 )

PROVISIONS FOR LIABILITIES (7,739 ) (9,622 )
NET ASSETS 1,444,007 1,429,125

CAPITAL AND RESERVES
Called up share capital 4,078 4,078
Share premium 20,122 20,122
Capital redemption reserve 12,803 12,803
Retained earnings 1,407,004 1,392,122
SHAREHOLDERS' FUNDS 1,444,007 1,429,125

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

SCIMED LTD (Registered number: 01437361)

Balance Sheet - continued
31 December 2024


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 28 March 2025 and were signed on its behalf by:





Dr A J Rucklidge - Director


SCIMED LTD (Registered number: 01437361)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

SCIMED LTD 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.

The financial statements are prepared in sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost, 25% on reducing balance and 15% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at 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.

SCIMED LTD (Registered number: 01437361)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 39 (2023 - 38 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024 134,097
Additions 11,135
Disposals (38,080 )
At 31 December 2024 107,152
DEPRECIATION
At 1 January 2024 95,608
Charge for year 14,486
Eliminated on disposal (33,899 )
At 31 December 2024 76,195
NET BOOK VALUE
At 31 December 2024 30,957
At 31 December 2023 38,489

SCIMED LTD (Registered number: 01437361)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2024 10,610
Transfer to ownership (10,610 )
At 31 December 2024 -
DEPRECIATION
At 1 January 2024 5,345
Transfer to ownership (5,345 )
At 31 December 2024 -
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 5,265

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 530,794
At 31 December 2024 530,794
NET BOOK VALUE
At 31 December 2024 530,794

During the year the company purchased 110 ordinary shares in Dublin Analytical Instruments Limited. This equates to 55% of the issued share capital of that company.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 2,543,752 2,988,671
Other debtors 122,557 98,393
2,666,309 3,087,064

SCIMED LTD (Registered number: 01437361)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts 10,360 9,900
Hire purchase contracts (see note 9) 249,571 26,087
Trade creditors 1,087,001 1,126,820
Taxation and social security 701,948 585,121
Other creditors 1,275,386 1,372,330
3,324,266 3,120,258

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans 6,137 16,703
Hire purchase contracts (see note 9) 201,771 -
Other creditors 105,000 105,000
312,908 121,703

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.12.24 31.12.23
£    £   
Net obligations repayable:
Within one year 249,571 26,087
Between one and five years 201,771 -
451,342 26,087

Non-cancellable operating leases
31.12.24 31.12.23
£    £   
Within one year 167,393 118,084
Between one and five years 349,219 321,278
In more than five years 241,979 7,000
758,591 446,362

10. SECURED DEBTS

The following secured debts are included within creditors:

31.12.24 31.12.23
£    £   
Hire purchase contracts 451,342 26,087

The Hire Purchase is secured on stocks held.

SCIMED LTD (Registered number: 01437361)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

11. RELATED PARTY DISCLOSURES

P & A Lettings (Cheshire) Limited
A company in which A J Rucklidge and P D Vanden Branden are directors.

The company rents premises, under an operating lease, from P&A Lettings (Cheshire) Limited. During the year the charge for rent and related costs amounted to £40,000 (2023: £48,000).

During the year the property was transferred into the pension scheme of the directors and rent was paid to the pension scheme totalling £9,939 (2023: £NIL).

Dublin Analytical Instruments Limited
During the year the company acquired a 55% holding in Dublin Analytical Instruments Limited, a company registered in Eire.

The company received management charges and reimbursement of other expenses from Dublin Analytical Instruments Limited of £5,539 (2023: £NIL) in the year.

12. ULTIMATE CONTROLLING PARTY

The company is considered to be under the control of the directors acting in concert.