Company Registration No. 06588344 (England and Wales)
Medigold HML Holdings Limited
Annual report and financial statements
for the year ended 30 September 2024
Medigold HML Holdings Limited
Company information
Directors
Alexander Goldsmith
James Syrotiuk
(Appointed 1 September 2024)
Secretary
Sebastian Goldsmith
Company number
06588344
Registered office
Medigold House
Queensbridge
Northampton
NN4 7BF
Accountants
Saffery LLP
St John's Court
Easton Street
High Wycombe
HP11 1JX
Medigold HML Holdings Limited
Contents
Page
Strategic report
1
Directors' report
2
Accountants' report
3
Statement of comprehensive income
4
Statement of financial position
5
Statement of changes in equity
6
Notes to the financial statements
7 - 10
Medigold HML Holdings Limited
Strategic report
For the year ended 30 September 2024
1

The directors present the strategic report for the year ended 30 September 2024.

Principal activities

The principal activity of the company continued to be that of an intermediate holding company of a trading subsidiary, Health Management Limited (HML).

 

HML is a leading provider of independent health assessments and health & wellbeing services to the corporate, public, small, and medium businesses (SMEs), insurance and pension scheme sectors throughout the United Kingdom. These services are delivered by practitioners employed by the company, either remotely, from various offices and clinics spread throughout the United Kingdom, or from customer locations.

Review of the business

The Company has not undertaken trading activity during the year. Reported net assets at the balance sheet date were unchanged at £19,370,000.

Principal risks and uncertainties

From the perspective of the Company, its principal risks and uncertainties relate only to those of its trading subsidiary, HML, and its immediate parent Medigold Health Consultancy Limited.

Key performance indicators

Other than holding investments the Company does not trade, and therefore the Directors are of the opinion that key performance indicators are not relevant for an understanding of the Company's performance.

On behalf of the board

Alexander Goldsmith
Director
25 June 2025
Medigold HML Holdings Limited
Directors' report
For the year ended 30 September 2024
2

The directors present their annual report and financial statements for the year ended 30 September 2024.

Results and dividends

The results for the year are set out on page 4.

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Alexander Goldsmith
James Syrotiuk
(Appointed 1 September 2024)
Eliot Caulton
(Resigned 31 August 2024)
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Alexander Goldsmith
Director
25 June 2025
Medigold HML Holdings Limited
Accountants' report to the Board of Directors on the preparation of the unaudited statutory financial statements of Medigold HML Holdings Limited for the year ended 30 September 2024
3

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Medigold HML Holdings Limited for the year ended 30 September 2024 set out on pages 4 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 icaew.com/regulation.

This report is made solely to the Board of Directors of Medigold HML Holdings Limited, as a body, in accordance with the terms of our engagement letter dated 25 February 2025. Our work has been undertaken solely to prepare for your approval the financial statements of Medigold HML Holdings Limited and state those matters that we have agreed to state to the Board of Directors of Medigold HML Holdings 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 Medigold HML Holdings Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Medigold HML Holdings 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 result of Medigold HML Holdings Limited. You consider that Medigold HML Holdings 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 financial statements of Medigold HML Holdings 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.

Saffery LLP
25 June 2025
St John's Court
Easton Street
High Wycombe
HP11 1JX
Medigold HML Holdings Limited
Statement of comprehensive income
For the year ended 30 September 2024
4
Year
Period
ended
ended
30 September
29 September
2024
2023
Notes
£
£
Revenue
-
-
Tax on profit
-
0
-
0
Profit and total comprehensive income for the financial year
-
0
-
0
Medigold HML Holdings Limited
Statement of financial position
As at 30 September 2024
30 September 2024
5
30 September
29 September
2024
2023
Notes
£
£
Non-current assets
Investments
4
19,370,000
19,370,000
Net assets
19,370,000
19,370,000
Equity
Called up share capital
6
55,686,000
55,686,000
Share premium account
7
28,968,093
28,968,093
Retained earnings
(65,284,093)
(65,284,093)
Total equity
19,370,000
19,370,000

For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 25 June 2025 and are signed on its behalf by:
Alexander Goldsmith
Director
Company registration number 06588344 (England and Wales)
Medigold HML Holdings Limited
Statement of changes in equity
For the year ended 30 September 2024
6
Share capital
Share premium account
Retained earnings
Total
Notes
£
£
£
£
Balance at 1 October 2022
55,685,000
9,599,093
(65,284,093)
-
Period ended 29 September 2023:
Transactions with owners:
Issue of share capital
6
1,000
19,369,000
-
19,370,000
Balance at 29 September 2023 and 30 September 2024
55,686,000
28,968,093
(65,284,093)
19,370,000
Medigold HML Holdings Limited
Notes to the financial statements
For the year ended 30 September 2024
7
1
Accounting policies
Company information

Medigold HML Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is Medigold House, Queensbridge, Northampton, NN4 7BF.

1.1
Accounting convention

The financial statements have been prepared in accordance with Financial Reporting Standard 101 Reduced Disclosure Framework (FRS 101) and in accordance with applicable accounting standards.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

As permitted by FRS 101, the company has taken advantage of the following disclosure exemptions from the requirements of IFRS:

 

As permitted by FRS 101, the company has taken advantage of the disclosure exemptions available under that standard in relation to share based payments, financial instruments, capital management, presentation of a cash flow statement, presentation of comparative information in respect of certain assets, standards not yet effective, impairment of assets, business combinations, discontinued operations and related party transactions

Where required, equivalent disclosures are given in the group accounts of Medigold Health Consultancy Limited. The group accounts of Medigold Health Consultancy Limited are available to the public and can be obtained as set out in the controlling party note.

 

The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statement present information about the company as an individual entity and not about its group.

 

Medigold HML Holdings Limited is a wholly owned subsidiary of Medigold Health Consultancy Limited and the results of Medigold HML Holdings Limited are included in the consolidated financial statements of Medigold Health Consultancy Limited which are available from Medigold House, Queensbridge, Northampton, NN4 7BF.

1.2
Going concern

The directors have at the time of approving the financial statements, a reasonable expectation that the truecompany 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.

Medigold HML Holdings Limited
Notes to the financial statements (continued)
For the year ended 30 September 2024
1
Accounting policies (continued)
8
1.3
Non-current investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.4
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Critical accounting judgements and key sources of estimation uncertainty

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, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

 

In preparing these financial statements, the directors have had to make the following judgements:

Critical judgements
Impairment of fixed asset investments

Determined whether there are indicators of impairment in the Company's fixed asset investment balances. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the underlying asset.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
2
2
Medigold HML Holdings Limited
Notes to the financial statements (continued)
For the year ended 30 September 2024
9
4
Investments
Current
Non-current
2024
2023
2024
2023
£
£
£
£
Investments in subsidiaries
-
-
19,370,000
19,370,000
Fair value of financial assets carried at amortised cost

The directors believe that the carrying amounts of financial assets carried at amortised cost in the financial statements approximate to their fair values.

 

There have been no movements in non-current asset investments during the year.

 

At the balance sheet date, the Company tested the carrying values of the investments in its subsidiaries using value in use calculations. Key assumptions were reviewed, including discount rates and expected future performance and growth rates of the businesses, and determined no impairment to be required.

5
Subsidiaries

Details of the company's subsidiaries at 30 September 2024 are as follows:

Name of undertaking
Registered office
Nature of business
Class of
shares held
% Held
Direct
Indirect
Health Management (UK) Limited
Medigold House, Queensbridge, Northampton, England, NN4 7BF
Dormant
Ordinary
-
100.00
Health Management City Limited
Medigold House, Queensbridge, Northampton, England, NN4 7BF
Dormant
Ordinary
-
100.00
Health Management Limited
Medigold House, Queensbridge, Northampton, England, NN4 7BF
Health assessment services
Ordinary
100.00
-
6
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
55,686,000
55,686,000
55,686,000
55,686,000

The shares have no prescribed particulars attached to them.

On 6 March 2023 the company issued 1,000 Ordinary shares of £1 each for a consideration of £19,370,000.

Medigold HML Holdings Limited
Notes to the financial statements (continued)
For the year ended 30 September 2024
10
7
Share premium account
2024
2023
£
£
At the beginning of the year
28,968,093
9,599,093
Issue of new shares
-
19,369,000
At the end of the year
28,968,093
28,968,093

The share premium represents the aggregate of the excess paid over and above the nominal value of the Company's issued share capital.

8
Contingent liabilities

On 6 March 2023, the company's parent undertaking, Medigold Health Consultancy Limited, completed a refinancing arrangement with HSBC Bank Plc and BGF. On the same day:

 

 

The company is party to the group guarantee and debenture of fixed and floating charges over the assets of the group, provided as security for these facilities.

 

At the balance sheet date, the balance due in connection with these facilities was £27,624,000.

 

Subsequent to the year end, Medigold Health Consultancy Limited completed a further refinancing arrangement with HSBC Bank Plc, BGF and a collective of existing shareholders and Goldsmith family members and friends, extending and revising the terms of the existing facilities. The company remains party to the group guarantee and debenture of fixed and floating charges over the assets of the group, provided as security for these facilities.

9
Related party transactions

The company has taken advantage of the exemption permitted by FRS101 whereby it has not disclosed transactions with the ultimate parent company or any wholly owned subsidiary undertaking of the group.

10
Controlling party

The immediate and ultimate parent company of Medigold HML Holdings Limited is Medigold Health Consultancy Limited.

Medigold Health Consultancy Limited is the parent of the smallest and largest group for which consolidated financial statements are drawn up, of which the company is a member. The registered office of Medigold Health Consultancy Limited is Medigold House, Queensbridge, Northampton, NN4 7BF.

 

The directors do not consider there to be an ultimate controlling party.

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