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REGISTERED NUMBER: 09914912 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

MEDICAL AUCTIONS (BMA) LIMITED
TRADING AS
BRITISH MEDICAL AUCTIONS

MEDICAL AUCTIONS (BMA) LIMITED (REGISTERED NUMBER: 09914912)
TRADING AS BRITISH MEDICAL AUCTIONS

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MEDICAL AUCTIONS (BMA) LIMITED
TRADING AS BRITISH MEDICAL AUCTIONS

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: M J K Grad
M J Davies
M A Woolhouse
M L J Brouwers
T A Christenson





REGISTERED OFFICE: Unit 1a
Sterling Centre
Eastern Road
Bracknell
Berkshire
RG12 2PW





REGISTERED NUMBER: 09914912 (England and Wales)





AUDITORS: Galloways Accounting
15 West Street
Brighton
East Sussex
BN1 2RL

MEDICAL AUCTIONS (BMA) LIMITED (REGISTERED NUMBER: 09914912)
TRADING AS BRITISH MEDICAL AUCTIONS

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 923,182 357,550
Investments 5 188,694 188,694
1,111,876 546,244

CURRENT ASSETS
Debtors 6 2,599,813 2,547,950
Cash at bank 1,436,829 1,992,285
4,036,642 4,540,235
CREDITORS
Amounts falling due within one year 7 (3,655,191 ) (3,616,636 )
NET CURRENT ASSETS 381,451 923,599
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,493,327

1,469,843

PROVISIONS FOR LIABILITIES (368,385 ) (28,383 )
NET ASSETS 1,124,942 1,441,460

CAPITAL AND RESERVES
Called up share capital 9 243 243
Share premium 10 297,376 297,376
Retained earnings 10 827,323 1,143,841
SHAREHOLDERS' FUNDS 1,124,942 1,441,460

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 2 April 2025 and were signed on its behalf by:





M J K Grad - Director


MEDICAL AUCTIONS (BMA) LIMITED (REGISTERED NUMBER: 09914912)
TRADING AS BRITISH MEDICAL AUCTIONS

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


1. STATUTORY INFORMATION

Medical Auctions (BMA) 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. 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.

Preparation of consolidated financial statements
The financial statements contain information about Medical Auctions (BMA) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents commissions and premiums earned by the Company in its role as auctioneer.

Auction commissions are recognised upon the closure of each auction lot, which is the point in time when the Company has substantially accomplished what it must do to be entitled to the benefits.

The commissions and premiums represent the turnover in an agent principal relationship which can be recongnised and not the total hammer price.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

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.

Short leasehold - Over lease term
Plant and machinery- 25% on cost
Fixtures and fittings- 25% on cost
Motor vehicles- 15% on reducing balance
Computer equipment- 33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost, less impairment which is reviewed annually.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a 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 instruments are initially recognised at the transaction price and are subsequently measured at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial instrument is measured at the present value of the future receipts discounted at a market rate of interest.


MEDICAL AUCTIONS (BMA) LIMITED (REGISTERED NUMBER: 09914912)
TRADING AS BRITISH MEDICAL AUCTIONS

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


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
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.

Share based payments
The Company grants share options ("equity-settled share based payments") to certain employees.

Equity-settled share based payments are measured at fair value at the date of grant by reference to the fair value of the equity instruments granted using the Black Scholes model. The fair value determined at the grant date is expensed on a straight-line basis over the vesting period, based on the estimate of shares that will eventually vest. A corresponding adjustment is made to equity.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2023 - 25 ) .

MEDICAL AUCTIONS (BMA) LIMITED (REGISTERED NUMBER: 09914912)
TRADING AS BRITISH MEDICAL AUCTIONS

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


4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 January 2024 421,439 14,341 80,547
Additions 622,111 14,698 89,377
At 31 December 2024 1,043,550 29,039 169,924
DEPRECIATION
At 1 January 2024 125,588 11,732 52,990
Charge for year 121,265 5,730 33,570
At 31 December 2024 246,853 17,462 86,560
NET BOOK VALUE
At 31 December 2024 796,697 11,577 83,364
At 31 December 2023 295,851 2,609 27,557

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2024 26,747 49,905 592,979
Additions - 11,515 737,701
At 31 December 2024 26,747 61,420 1,330,680
DEPRECIATION
At 1 January 2024 4,012 41,107 235,429
Charge for year 2,920 8,584 172,069
At 31 December 2024 6,932 49,691 407,498
NET BOOK VALUE
At 31 December 2024 19,815 11,729 923,182
At 31 December 2023 22,735 8,798 357,550

5. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 January 2024
and 31 December 2024 188,694
NET BOOK VALUE
At 31 December 2024 188,694
At 31 December 2023 188,694

The above investment is categorised as a fixed asset investment on the basis that the directors expect to hold this investment for a period of more than 12 months from the balance sheet date.

MEDICAL AUCTIONS (BMA) LIMITED (REGISTERED NUMBER: 09914912)
TRADING AS BRITISH MEDICAL AUCTIONS

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


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,632,756 1,295,212
Amounts owed by group undertakings 2,687 47,545
Other debtors 228,292 264,332
Other tax and social security 52,669 159,083
Tax 361,299 595,260
Prepayments 322,110 186,518
2,599,813 2,547,950

Included in other debtors is an amount of £210,550 (2023: £210,550) in relation to a rent deposit which is due over one year.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 451,350 585,576
Trade creditors 1,288,352 1,405,521
Amounts owed to group undertakings 316,952 -
Social security and other taxes 91,447 76,629
Other creditors 60,630 178,121
Accrued expenses 1,446,460 1,370,789
3,655,191 3,616,636

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 479,390 463,703
Between one and five years 1,814,583 1,735,220
In more than five years 322,067 757,665
2,616,040 2,956,588

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number Class Nominal Value 2023 2022
£    £   
22,500 A Ordinary 0.1p 23 13
10,530 B Ordinary 0.1p 11 11
209,470 Ordinary 0.1p 0.1p 209 209
243 243

10. RESERVES

Other reserves consists of a share-based payment reserve.

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mark Crowter BSc FCA (Senior Statutory Auditor)
for and on behalf of Galloways Accounting

MEDICAL AUCTIONS (BMA) LIMITED (REGISTERED NUMBER: 09914912)
TRADING AS BRITISH MEDICAL AUCTIONS

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


12. RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption available in FRS 102 ''Related party disclosures'' whereby it has not disclosed transactions with the ultimate parent company or any wholly owned subsidiary undertaking of the group.

13. ULTIMATE CONTROLLING PARTY

On 31 January 2022, the Company was purchased by Gavel UK Bidco Limited.

The company's parent is Gavel UK Bidco Limited.

The company's accounts are consolidated into the financial statements of the ultimate company, TBAuctions B.V.. Copies of the accounts may be obtained from TBAuctions B.V., Overschiestraat 59, 1062 XD, Amsterdam.