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REGISTERED NUMBER: 09697414 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 APRIL 2023 TO 30 SEPTEMBER 2024

FOR

MANX GENERICS LIMITED

MANX GENERICS LIMITED (REGISTERED NUMBER: 09697414)






CONTENTS OF THE FINANCIAL STATEMENTS
for the period 1 April 2023 to 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MANX GENERICS LIMITED

COMPANY INFORMATION
for the period 1 April 2023 to 30 September 2024







DIRECTORS: R J Taylor
M J Taylor





REGISTERED OFFICE: Unit 2
Bosworth Avenue
Tournament Fields
Warwick
Warwickshire
CV34 6UQ





REGISTERED NUMBER: 09697414 (England and Wales)





ACCOUNTANTS: LDP Luckmans
1110 Elliott Court
Coventry Business Park
Herald Avenue
Coventry
West Midlands
CV5 6UB

MANX GENERICS LIMITED (REGISTERED NUMBER: 09697414)

BALANCE SHEET
30 September 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 4 91,196 107,900
Cash at bank 50,037 62,062
141,233 169,962
CREDITORS
Amounts falling due within one year 5 1,881,821 2,013,540
NET CURRENT LIABILITIES (1,740,588 ) (1,843,578 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,740,588

)

(1,843,578

)

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings (1,741,588 ) (1,844,578 )
SHAREHOLDERS' FUNDS (1,740,588 ) (1,843,578 )

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

The members have not required the company to obtain an audit of its financial statements for the period 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.

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 25 June 2025 and were signed on its behalf by:





R J Taylor - Director


MANX GENERICS LIMITED (REGISTERED NUMBER: 09697414)

NOTES TO THE FINANCIAL STATEMENTS
for the period 1 April 2023 to 30 September 2024

1. STATUTORY INFORMATION

Manx Generics 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.

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.

The financial statements are prepared on the going concern basis. The company is dependent on the support of the directors and connected companies. The directors have confirmed this support.

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

Taxation
Taxation for the period 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 period 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

Foreign currencies
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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2023 - NIL).

MANX GENERICS LIMITED (REGISTERED NUMBER: 09697414)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 1 April 2023 to 30 September 2024

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 87,895 83,848
VAT 3,301 8,368
Deferred tax asset
Tax losses carried forward - 15,684
91,196 107,900

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 107,700 141,571
Amounts owed to group undertakings 823,497 872,934
Tax 19,089 -
Other creditors 929,535 997,035
Accrued expenses 2,000 2,000
1,881,821 2,013,540

6. RELATED PARTY DISCLOSURES

During the year, the company paid management charges of £337,515 (2023: £225,000) to Manx Healthcare Limited, a 50% owner of the company.

During the year, the company received income of £511,368 (2023: £328,094) for sale of product under license to Manx Healthcare Limited.