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REGISTERED NUMBER: 06947302 (England and Wales)















MEDICHEM - NORTHOLME LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024






MEDICHEM - NORTHOLME LIMITED (REGISTERED NUMBER: 06947302)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 September 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MEDICHEM - NORTHOLME LIMITED

COMPANY INFORMATION
for the year ended 30 September 2024







DIRECTORS: Dr S S Pillai
J T Vadodaria





REGISTERED OFFICE: Swillington Pharmacy
Church Lane
Swillington
Leeds
West Yorkshire
LS26 8DY





REGISTERED NUMBER: 06947302 (England and Wales)





ACCOUNTANTS: SMH Sheards
Vernon House
40 New North Road
Huddersfield
West Yorkshire
HD1 5LS

MEDICHEM - NORTHOLME LIMITED (REGISTERED NUMBER: 06947302)

BALANCE SHEET
30 September 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 69,289 144,875
Tangible assets 5 1,518 1,291
70,807 146,166

CURRENT ASSETS
Stocks 95,093 95,923
Debtors 6 364,987 317,857
Cash at bank and in hand 136,602 94,252
596,682 508,032
CREDITORS
Amounts falling due within one year 7 (390,720 ) (316,853 )
NET CURRENT ASSETS 205,962 191,179
TOTAL ASSETS LESS CURRENT
LIABILITIES

276,769

337,345

CAPITAL AND RESERVES
Called up share capital 10 600 600
Retained earnings 276,169 336,745
SHAREHOLDERS' FUNDS 276,769 337,345

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

MEDICHEM - NORTHOLME LIMITED (REGISTERED NUMBER: 06947302)

BALANCE SHEET - continued
30 September 2024


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 19 June 2025 and were signed on its behalf by:




J T Vadodaria - Director



Dr S S Pillai - Director


MEDICHEM - NORTHOLME LIMITED (REGISTERED NUMBER: 06947302)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 September 2024


1. STATUTORY INFORMATION

Medichem - Northolme 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); 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 in respect of the transaction can be measured reliably.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of thirteen years.

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of identifiable assets, liabilities and contingent liabilities of the acquired business.

Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost, 25% on reducing balance, 20% on cost and 10% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

MEDICHEM - NORTHOLME LIMITED (REGISTERED NUMBER: 06947302)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other debtors, amounts owed by group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs.

Financial assets, other than those held at fair value through profit or loss, are assessed for indicators of impairment at each balance sheet date, with any impairment losses being recognised in profit or loss. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed in profit or loss.

Financial liabilities are classified depending on the substance of the contractual arrangements entered into.

Basic financial liabilities, including trade and other creditors, bank loans, finance leases, accruals and amounts owed to group undertakings, are initially recognised at transaction price.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2023 - 22 ) .

MEDICHEM - NORTHOLME LIMITED (REGISTERED NUMBER: 06947302)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2023
and 30 September 2024 755,865
AMORTISATION
At 1 October 2023 610,990
Charge for year 75,586
At 30 September 2024 686,576
NET BOOK VALUE
At 30 September 2024 69,289
At 30 September 2023 144,875

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2023 106,564
Additions 800
At 30 September 2024 107,364
DEPRECIATION
At 1 October 2023 105,273
Charge for year 573
At 30 September 2024 105,846
NET BOOK VALUE
At 30 September 2024 1,518
At 30 September 2023 1,291

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 194,563 154,837
Amounts owed by group undertakings 135,852 108,989
Other debtors 34,572 54,031
364,987 317,857

MEDICHEM - NORTHOLME LIMITED (REGISTERED NUMBER: 06947302)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 295,557 249,957
Amounts owed to associates 83,248 42,648
Taxation and social security 5,137 3,557
Other creditors 6,778 20,691
390,720 316,853

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Between one and five years - 11,700
In more than five years 381,250 205,625
381,250 217,325

9. SECURED DEBTS

The company has provided a cross guarantee to the parent company's bank.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
300 Ordinary "A" £1 300 300
300 Ordinary "B" £1 300 300
600 600

11. RELATED PARTY DISCLOSURES

At the year end, £83,248 (2023 - £42,648) was owed to a company in which a director is also a shareholder and director. The amount is interest free and is repayable on demand.

At the year end, £135,852 (2023 - £108,989) was owed from the parent company.