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Company No: 04498804 (England and Wales)

ADVANCED MEDICAL EQUIPMENT LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

ADVANCED MEDICAL EQUIPMENT LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

ADVANCED MEDICAL EQUIPMENT LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2023
ADVANCED MEDICAL EQUIPMENT LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
Director M A Rodriguez Campa
Secretary R M Ruiz De Rodriguez
Registered office 9 Donnington Park
85 Birdham Road
Chichester
PO20 7AJ
United Kingdom
Company number 04498804 (England and Wales)
Accountant Kreston Reeves LLP
9 Donnington Park
85 Birdham Road
Chichester
West Sussex
PO20 7AJ

ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF
THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ADVANCED MEDICAL EQUIPMENT LIMITED

For the financial year ended 31 December 2023

ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF
THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ADVANCED MEDICAL EQUIPMENT LIMITED (continued)

For the financial year ended 31 December 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Advanced Medical Equipment Limited for the financial year ended 31 December 2023 which comprise the Balance Sheet and the related notes 1 to 10 from the Company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/regulation.

It is your duty to ensure that Advanced Medical Equipment Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Advanced Medical Equipment Limited. You consider that Advanced Medical Equipment Limited is exempt from the statutory audit requirement for the financial year.

We have not been instructed to carry out an audit or a review of the financial statements of Advanced Medical Equipment 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 statutory financial statements.

This report is made solely to the Director of Advanced Medical Equipment Limited, as a body, in accordance with the terms of our engagement letter dated 17 July 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Advanced Medical Equipment Limited and state those matters that we have agreed to state to the director of Advanced Medical Equipment Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Advanced Medical Equipment Limited and its Director as a body for our work or for this report.

Kreston Reeves LLP
Chartered Accountants

9 Donnington Park
85 Birdham Road
Chichester
West Sussex
PO20 7AJ

02 June 2025

ADVANCED MEDICAL EQUIPMENT LIMITED

BALANCE SHEET

As at 31 December 2023
ADVANCED MEDICAL EQUIPMENT LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 236,886 215,268
236,886 215,268
Current assets
Stocks 1,375 7,635
Debtors 4 16,344 55,078
Cash at bank and in hand 53,073 43,099
70,792 105,812
Creditors: amounts falling due within one year 5 ( 246,211) ( 248,224)
Net current liabilities (175,419) (142,412)
Total assets less current liabilities 61,467 72,856
Creditors: amounts falling due after more than one year 6, 10 ( 36,558) ( 44,622)
Provision for liabilities 7 ( 10,535) ( 3,707)
Net assets 14,374 24,527
Capital and reserves
Called-up share capital 100 100
Profit and loss account 14,274 24,427
Total shareholder's funds 14,374 24,527

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Advanced Medical Equipment Limited (registered number: 04498804) were approved and authorised for issue by the Director on 02 June 2025. They were signed on its behalf by:

M A Rodriguez Campa
Director
ADVANCED MEDICAL EQUIPMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
ADVANCED MEDICAL EQUIPMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Advanced Medical Equipment Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 9 Donnington Park, 85 Birdham Road, Chichester, PO20 7AJ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

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 shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 2 2

3. Tangible assets

Land and buildings Computer equipment Total
£ £ £
Cost
At 01 January 2023 284,302 74,087 358,389
Additions 3,045 32,770 35,815
At 31 December 2023 287,347 106,857 394,204
Accumulated depreciation
At 01 January 2023 83,861 59,260 143,121
Charge for the financial year 5,713 8,484 14,197
At 31 December 2023 89,574 67,744 157,318
Net book value
At 31 December 2023 197,773 39,113 236,886
At 31 December 2022 200,441 14,827 215,268

4. Debtors

2023 2022
£ £
Trade debtors 6,482 28,876
Amounts owed by director 0 13,613
Prepayments 3,146 5,873
Other debtors 6,716 6,716
16,344 55,078

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans (secured) 3,172 11,679
Trade creditors 82,655 80,648
Amounts owed to director 2,072 0
Other loans (secured) 4,474 5,880
Accruals and deferred income 20,985 18,673
Corporation tax 77,623 67,326
Other taxation and social security 43,641 51,140
Other creditors 11,589 12,878
246,211 248,224

Details of security provided:

Bank loans are secured by way of fixed charge over freehold property, fixed plant and machinery and all present and future book and other debts, and a floating charge over moveable plant and machinery and fixtures and fittings. Other loans are backed by the Government.

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans (secured) 27,109 3,608
Other loans (secured) 9,449 41,014
36,558 44,622

Details of security provided:

Bank loans are secured by way of fixed charge over freehold property, fixed plant and machinery and all present and future book and other debts, and a floating charge over moveable plant and machinery and fixtures and fittings. Other loans are backed by the Government.

7. Deferred tax

2023 2022
£ £
At the beginning of financial year ( 3,707) ( 1,840)
Charged to the Statement of Income and Retained Earnings ( 6,828) ( 1,867)
At the end of financial year ( 10,535) ( 3,707)

The deferred taxation balance is made up as follows:

2023 2022
£ £
Accelerated capital allowances ( 10,535) ( 3,707)

8. Financial commitments

Pensions

The Company operates a defined contribution pension scheme. The assets of he scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £22,400 (2022 - £2,400). Contribution totalling £nil (2022 - £nil) were payable to the fund at the balance sheet date and are included in creditors.

9. Related party transactions

Other related party transactions

2023 2022
£ £
Unsecured loan to the director (2,377) 13,613

Interest of 2.25% was charged on the loan to the director.

10. Loans

Amount Falling due within one year

2023 2022
£ £
Bank Loans 3,172 11,679
Other loans 4,474 5,880
7,646 17,559

Amount falling due 1-2 years

2023 2022
£ £
Bank loans 0 3,608
Other loans 36,558 41,014
36,558 44,622