Acorah Software Products - Accounts Production 16.3.350 false true 31 October 2023 1 November 2022 false 1 November 2023 31 October 2024 31 October 2024 06263579 Federica Eusebio Tro Manoukian Fay Salt Luigi Sansone iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06263579 2023-10-31 06263579 2024-10-31 06263579 2023-11-01 2024-10-31 06263579 frs-core:CurrentFinancialInstruments 2024-10-31 06263579 frs-core:Non-currentFinancialInstruments 2024-10-31 06263579 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-11-01 2024-10-31 06263579 frs-core:FurnitureFittings 2024-10-31 06263579 frs-core:FurnitureFittings 2023-11-01 2024-10-31 06263579 frs-core:FurnitureFittings 2023-10-31 06263579 frs-core:NetGoodwill 2024-10-31 06263579 frs-core:NetGoodwill 2023-11-01 2024-10-31 06263579 frs-core:NetGoodwill 2023-10-31 06263579 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-10-31 06263579 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 06263579 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-10-31 06263579 frs-core:MoreThanFiveYears 2024-10-31 06263579 frs-core:OtherResidualIntangibleAssets 2024-10-31 06263579 frs-core:OtherResidualIntangibleAssets 2023-11-01 2024-10-31 06263579 frs-core:OtherResidualIntangibleAssets 2023-10-31 06263579 frs-core:PlantMachinery 2024-10-31 06263579 frs-core:PlantMachinery 2023-11-01 2024-10-31 06263579 frs-core:PlantMachinery 2023-10-31 06263579 frs-core:WithinOneYear 2024-10-31 06263579 frs-core:CapitalRedemptionReserve 2024-10-31 06263579 frs-core:SharePremium 2024-10-31 06263579 frs-core:ShareCapital 2024-10-31 06263579 frs-core:RetainedEarningsAccumulatedLosses 2024-10-31 06263579 frs-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 06263579 frs-bus:FilletedAccounts 2023-11-01 2024-10-31 06263579 frs-bus:SmallEntities 2023-11-01 2024-10-31 06263579 frs-bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 06263579 frs-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 06263579 frs-bus:OrdinaryShareClass1 2023-11-01 2024-10-31 06263579 frs-bus:OrdinaryShareClass1 2024-10-31 06263579 frs-core:DeferredTaxation 2023-11-01 2024-10-31 06263579 frs-core:DeferredTaxation 2023-10-31 06263579 frs-core:DeferredTaxation 2024-10-31 06263579 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2024-10-31 06263579 frs-bus:Director1 2023-11-01 2024-10-31 06263579 frs-bus:Director1 2023-10-31 06263579 frs-bus:Director1 2024-10-31 06263579 frs-bus:Director2 2023-11-01 2024-10-31 06263579 frs-bus:Director3 2023-11-01 2024-10-31 06263579 frs-bus:Director4 2023-11-01 2024-10-31 06263579 frs-countries:EnglandWales 2023-11-01 2024-10-31 06263579 2022-10-31 06263579 2023-10-31 06263579 2022-11-01 2023-10-31 06263579 frs-core:CurrentFinancialInstruments 2023-10-31 06263579 frs-core:Non-currentFinancialInstruments 2023-10-31 06263579 frs-core:MoreThanFiveYears 2023-10-31 06263579 frs-core:WithinOneYear 2023-10-31 06263579 frs-core:CapitalRedemptionReserve 2023-10-31 06263579 frs-core:SharePremium 2023-10-31 06263579 frs-core:ShareCapital 2023-10-31 06263579 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 06263579 frs-bus:OrdinaryShareClass1 2022-11-01 2023-10-31 06263579 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-10-31
Registered number: 06263579
Medaax Limited
Unaudited Financial Statements
For The Year Ended 31 October 2024
Ascendis Group
Chartered Certified Accountants, Taxation and Business Advisors
Unit 3, Building 2, The Colony Wilmslow
Altrincham Road
Wilmslow
Cheshire
SK9 4LY
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—8
Page 1
Accountant's Report
Report to the directors on the preparation of the unaudited statutory accounts of Medaax Limited for the year ended 31 October 2024
To assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Medaax Limited which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the directors of Medaax Limited , as a body, in accordance with the terms of our engagement letter dated 22nd February 2023. Our work has been undertaken solely to prepare for your approval the accounts of Medaax Limited and state those matters that we have agreed to state to the directors of Medaax Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Medaax Limited and its directors as a body for our work or for this report.
It is your duty to ensure that Medaax Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Medaax Limited . You consider that Medaax Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Medaax Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
2nd June 2025
Ascendis Group
Chartered Certified Accountants, Taxation and Business Advisors
Unit 3, Building 2, The Colony Wilmslow
Altrincham Road
Wilmslow
Cheshire
SK9 4LY
Page 1
Page 2
Balance Sheet
Registered number: 06263579
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 38,431 38,817
Tangible Assets 5 1,242,033 1,315,364
1,280,464 1,354,181
CURRENT ASSETS
Stocks 6 1,120,575 1,199,528
Debtors 7 1,061,286 1,164,032
Cash at bank and in hand 157,210 212,875
2,339,071 2,576,435
Creditors: Amounts Falling Due Within One Year 8 (1,763,369 ) (2,154,970 )
NET CURRENT ASSETS (LIABILITIES) 575,702 421,465
TOTAL ASSETS LESS CURRENT LIABILITIES 1,856,166 1,775,646
Creditors: Amounts Falling Due After More Than One Year 9 (798,755 ) (927,291 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 11 (56,053 ) (74,385 )
NET ASSETS 1,001,358 773,970
CAPITAL AND RESERVES
Called up share capital 13 73 73
Share premium account 116,992 116,992
Capital redemption reserve 18 18
Fair value reserve 255,754 255,754
Profit and Loss Account 628,521 401,133
SHAREHOLDERS' FUNDS 1,001,358 773,970
Page 2
Page 3
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Tro Manoukian
Director
2nd June 2025
The notes on pages 4 to 7 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Medaax Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06263579 . The registered office is River Mills, Langley, Macclesfield, Cheshire, SK11 0ER.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
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 sales/value added tax, returns, rebates and discounts. 
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. 
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss over its estimated economic life of 10 years.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are amortised to profit and loss over its estimated economic life of 3 years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 10-50% straight line basis
Fixtures & Fittings 10-20% straight line basis
The freehold property is no longer being depreciated (2022: 2-33.33% straight line). The directors consider the residual value of the freehold exceeds its carrying value and therefore no depreciation is considered necessary.
2.6. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.7. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.8. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Page 4
Page 5
2.9. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 32 (2023: 28)
32 28
4. Intangible Assets
Goodwill Other Total
£ £ £
Cost
As at 1 November 2023 62,550 24,419 86,969
Additions - 12,040 12,040
As at 31 October 2024 62,550 36,459 99,009
Amortisation
As at 1 November 2023 35,952 12,200 48,152
Provided during the period 3,755 8,671 12,426
As at 31 October 2024 39,707 20,871 60,578
Net Book Value
As at 31 October 2024 22,843 15,588 38,431
As at 1 November 2023 26,598 12,219 38,817
Page 5
Page 6
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 November 2023 1,017,822 847,361 235,734 2,100,917
Additions - 5,022 19,239 24,261
As at 31 October 2024 1,017,822 852,383 254,973 2,125,178
Depreciation
As at 1 November 2023 - 601,136 184,417 785,553
Provided during the period - 77,804 19,788 97,592
As at 31 October 2024 - 678,940 204,205 883,145
Net Book Value
As at 31 October 2024 1,017,822 173,443 50,768 1,242,033
As at 1 November 2023 1,017,822 246,225 51,317 1,315,364
6. Stocks
2024 2023
£ £
Stock 1,120,575 1,199,528
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 967,442 1,025,166
Other debtors 93,844 138,866
1,061,286 1,164,032
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 30,129 38,574
Trade creditors 813,645 1,299,328
Bank loans and overdrafts 144 48,183
Other loans 132,044 196,760
Other creditors 687,361 499,699
Taxation and social security 100,046 72,426
1,763,369 2,154,970
Page 6
Page 7
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 35,160 56,845
Other loans 726,095 782,946
Other creditors 37,500 87,500
798,755 927,291
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 30,129 38,574
Later than five years 35,160 56,845
65,289 95,419
65,289 95,419
11. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 56,053 74,385
12. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 November 2023 74,385 74,385
Additions (18,332 ) (18,332)
Balance at 31 October 2024 56,053 56,053
13. Share Capital
2024 2023
Allotted, called up and fully paid £ £
73 Ordinary Shares of £ 1.00 each 73 73
14. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 November 2023 Amounts advanced Amounts repaid Amounts written off As at 31 October 2024
£ £ £ £ £
Mr Tro Manoukian - 1,863 - - 1,863
The above loan is unsecured, interest free and repayable on demand.
15. Secured creditors
Page 7
Page 8
There are fixed and floating charges registered at Companies House on all assets of the company.
Page 8