5 4 Microlife Health Management Limited 04491287 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is that of marketing and selling blood pressure monitors, thermometers and related health products Digita Accounts Production Advanced 6.30.9574.0 true false true 04491287 2024-01-01 2024-12-31 04491287 2024-12-31 04491287 bus:OrdinaryShareClass1 2024-12-31 04491287 core:CurrentFinancialInstruments 2024-12-31 04491287 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 04491287 core:FurnitureFittingsToolsEquipment 2024-12-31 04491287 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2024-12-31 04491287 core:ParentEntities 2024-12-31 04491287 bus:SmallEntities 2024-01-01 2024-12-31 04491287 bus:Audited 2024-01-01 2024-12-31 04491287 bus:FilletedAccounts 2024-01-01 2024-12-31 04491287 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 04491287 bus:RegisteredOffice 2024-01-01 2024-12-31 04491287 bus:Director2 2024-01-01 2024-12-31 04491287 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 04491287 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 04491287 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 04491287 core:OfficeEquipment 2024-01-01 2024-12-31 04491287 core:AllAssociates 2024-01-01 2024-12-31 04491287 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2024-01-01 2024-12-31 04491287 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity core:SaleOrPurchaseGoods 2024-01-01 2024-12-31 04491287 core:ParentEntities 2024-01-01 2024-12-31 04491287 core:ParentEntities core:SaleOrPurchaseGoods 2024-01-01 2024-12-31 04491287 1 2024-01-01 2024-12-31 04491287 countries:England 2024-01-01 2024-12-31 04491287 2023-12-31 04491287 core:FurnitureFittingsToolsEquipment 2023-12-31 04491287 2023-01-01 2023-12-31 04491287 2023-12-31 04491287 bus:OrdinaryShareClass1 2023-12-31 04491287 core:CurrentFinancialInstruments 2023-12-31 04491287 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 04491287 core:FurnitureFittingsToolsEquipment 2023-12-31 04491287 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-12-31 04491287 core:ParentEntities 2023-12-31 04491287 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity core:SaleOrPurchaseGoods 2023-01-01 2023-12-31 04491287 core:ParentEntities core:SaleOrPurchaseGoods 2023-01-01 2023-12-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 04491287

Microlife Health Management Limited

Filleted Financial Statements

for the Year Ended 31 December 2024

 

Microlife Health Management Limited

Contents

Statement of Directors' Responsibilities

1

Balance Sheet

2

Notes to the Financial Statements

3 to 9

 

Microlife Health Management Limited

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

select suitable accounting policies and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

 

Microlife Health Management Limited

(Registration number: 04491287)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

-

999

Current assets

 

Stocks

5

886,229

763,791

Debtors

6

397,486

433,180

Cash at bank and in hand

 

1,449,090

2,130,307

 

2,732,805

3,327,278

Creditors: Amounts falling due within one year

7

(1,598,380)

(685,494)

Net current assets

 

1,134,425

2,641,784

Total assets less current liabilities

 

1,134,425

2,642,783

Provisions for liabilities

57,500

-

Net assets

 

1,191,925

2,642,783

Capital and reserves

 

Called up share capital

8

453,999

453,999

Retained earnings

737,926

2,188,784

Shareholders' funds

 

1,191,925

2,642,783

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 May 2025 and signed on its behalf by:
 

.........................................
Mr Wan-Chin Liu
Director

 

Microlife Health Management Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Victoria House
10 Broad Street
Abingdon
Oxfordshire
OX14 3LH
England

The principal place of business is:
St John's Innovation Centre
Cowley Road
Cambridge
CB4 0WS

These financial statements were authorised for issue by the Board on 27 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

 

Microlife Health Management Limited

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

Going concern

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 27 May 2025 was Stuart Bates BA FCA, who signed for and on behalf of Wenn Townsend.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. Unrelieved losses and other deferred 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 enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences.

 

Microlife Health Management Limited

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

50% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price after due regard for obsolete and slow moving stock.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Microlife Health Management Limited

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

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 4).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2024

2,665

2,665

At 31 December 2024

2,665

2,665

Depreciation

At 1 January 2024

1,666

1,666

Charge for the year

999

999

At 31 December 2024

2,665

2,665

Carrying amount

At 31 December 2024

-

-

At 31 December 2023

999

999

 

Microlife Health Management Limited

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

5

Stocks

2024
£

2023
£

Other inventories

886,229

763,791

6

Debtors

2024
£

2023
£

Trade debtors

256,304

422,636

Prepayments

8,732

1,115

Other debtors

132,450

9,429

397,486

433,180

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

3,513

77,520

Amounts owed to group undertakings and undertakings in which the company has a participating interest

10

1,196,036

481,125

Taxation and social security

 

141,576

82,872

Accruals and deferred income

 

257,255

43,977

 

1,598,380

685,494

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

453,999

453,999

453,999

453,999

       

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

 

Microlife Health Management Limited

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

The total amount of financial commitments not included in the balance sheet is £18,000 (2023 - £36,000).

10

Related party transactions

Key management compensation

2024
£

2023
£

Salaries and other short term employee benefits

88,851

87,025

Summary of transactions with parent

Purchase of goods for resale

Summary of transactions with all entities with joint control or significant interest

Ultimate controlling party Purchase of goods for resale

Summary of transactions with associates

Purchase of goods for resale

Income and receivables from related parties

2024

Parent
£

Entities with joint control or significant influence
£

Sale of goods

14,443

3,779

2023

Parent
£

Entities with joint control or significant influence
£

Sale of goods

49,239

13,956

Amounts receivable from related party

-

442

Expenditure with and payables to related parties

2024

Parent
£

Entities with joint control or significant influence
£

Purchase of goods

24,463

5,392,493

Amounts payable to related party

-

1,196,036

 

Microlife Health Management Limited

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

2023

Parent
£

Entities with joint control or significant influence
£

Purchase of goods

52,258

1,237,446

Amounts payable to related party

-

481,125

11

Parent and ultimate parent undertaking

The company's immediate parent is Microlife European Holding AG, incorporated in Switzerland.

 The ultimate controlling party is Microlife Corporation, a company registered in Taiwan. Group accounts may be obtained from the group's head office at 9F, 431 RuiGang Road, NeiHu, Tapei 114, Taiwan.