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Company registration number: 02723545
Arcomedical Infusion Limited
Unaudited filleted financial statements
31 December 2024
Arcomedical Infusion Limited
Contents
Balance sheet
Notes to the financial statements
Arcomedical Infusion Limited
Balance sheet
31 December 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 6 19,902 16,314
_______ _______
19,902 16,314
Current assets
Stocks 1,904,152 1,650,673
Debtors 7 530,371 581,110
Cash at bank and in hand 90,923 161,691
_______ _______
2,525,446 2,393,474
Creditors: amounts falling due
within one year 8 ( 2,173,267) ( 1,736,329)
_______ _______
Net current assets 352,179 657,145
_______ _______
Total assets less current liabilities 372,081 673,459
_______ _______
Net assets 372,081 673,459
_______ _______
Capital and reserves
Called up share capital 9 100,100 100,100
Profit and loss account 271,981 573,359
_______ _______
Shareholders funds 372,081 673,459
_______ _______
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 10 April 2025 , and are signed on behalf of the board by:
Mr Thomas Markus Moeckli Mr Andrew Mark Pritchard
Director Director
Company registration number: 02723545
Arcomedical Infusion Limited
Notes to the financial statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 8, Westmayne Industrial Park, Bramston Way, Laindon, Essex SS15 6TP.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
At the time of approving the financial statements the Directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the Directors continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is show net of VAT and other sales related taxes. The fair value consideration takes into account trade discounts, settlement discounts, and volume rebates.
Revenue from the sale of goods is recognised upon delivery of the product, when the significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Turnover in relation to pumps is recognised over the life of the lease.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 20 % straight line
Leasehold improvements - 20 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
Foreign Exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on transaltion in the period are included in the profit and loss.
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unsaved holiday entitlement is recognised in the period in which the employee's services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
4. Key Judgements
In the application of the company's accounting policies, the Directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Key Sources of estimation uncertainty
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.
Depreciation of tangible fixed assets
Depreciation is charged annually on relevant tangible fixed assets. The basis for the write down rate requires judgements to be made by the directors to estimate individual assets' expected useful economic lives.
5. Employee numbers
The average number of persons employed by the company during the year amounted to 10 (2023: 12 ).
6. Tangible assets
Plant and machinery Total
£ £
Cost
At 1 January 2024 49,235 49,235
Additions 10,528 10,528
_______ _______
At 31 December 2024 59,763 59,763
_______ _______
Depreciation
At 1 January 2024 32,922 32,922
Charge for the year 6,939 6,939
_______ _______
At 31 December 2024 39,861 39,861
_______ _______
Carrying amount
At 31 December 2024 19,902 19,902
_______ _______
At 31 December 2023 16,313 16,313
_______ _______
7. Debtors
2024 2023
£ £
Trade debtors 309,748 269,678
Other debtors 220,623 311,432
_______ _______
530,371 581,110
_______ _______
8. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 21,802 93,706
Social security and other taxes 61,604 89,677
Other creditors 2,089,861 1,552,946
_______ _______
2,173,267 1,736,329
_______ _______
There is a Debenture including Fixed Charge over all present freehold and leasehold property; First fixed charge over book and other debts, chattels, goodwill, and uncalled capital, both present and future, and First Floating Charge over all assets and undertaking both present and future.
Amounts payable to group undertakings are unsecured, interest free, and repayable on demand.
9. Called up share capital
Issued and called up
2024 2023
No £ No £
Ordinary Shares shares of £ 1.00 each 100,000 100,000 100,000 100,000
Ordinary A Shares shares of £ 1.00 each 100 100 100 100
_______ _______ _______ _______
100,100 100,100 100,100 100,100
_______ _______ _______ _______
Except for the right to participate in the profits of the Company the 'A' Ordinary shares have no interest in assets of the Company or in any other matters contained in the Memorandum and Articles of Association. In particular the 'A' Ordinary shares do not entitle the holder to receive notice or to attend or vote at any general meetings.
10. Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
£ £
Not later than 1 year 51,863 65,379
Later than 1 year and not later than 5 years - 44,423
_______ _______
51,863 109,802
_______ _______
11. Parent Company
The directors regard Arcomed AG, a company incorporated in Switzerland, as the ultimate parent undertaking and controlling party. Arcomed AG is the parent undertaking of the largest and smallest group of undertakings of which Arcomedical Infusion Limited is a member and for which group financial statements are drawn up.
At the year end the company owed £1,983,556 to Arcomed AG (2023: £1,460,151 owed to Arcomed AG).
12. Profit and Loss Reserves
Retained earnings are wholly distributable.