Acorah Software Products - Accounts Production 16.3.350 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 07637052 Jan Ranners Lars Vinther Lars Vinther Egenvej 3, 3600 Frederiksund, Denmark true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07637052 2023-12-31 07637052 2024-12-31 07637052 2024-01-01 2024-12-31 07637052 frs-core:CurrentFinancialInstruments 2024-12-31 07637052 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-01 2024-12-31 07637052 frs-core:OtherResidualIntangibleAssets 2024-12-31 07637052 frs-core:OtherResidualIntangibleAssets 2024-01-01 2024-12-31 07637052 frs-core:OtherResidualIntangibleAssets 2023-12-31 07637052 frs-core:ShareCapital 2024-12-31 07637052 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 07637052 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 07637052 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 07637052 frs-bus:SmallEntities 2024-01-01 2024-12-31 07637052 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 07637052 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 07637052 1 2024-01-01 2024-12-31 07637052 frs-bus:Director1 2024-01-01 2024-12-31 07637052 frs-bus:Director2 2024-01-01 2024-12-31 07637052 frs-countries:EnglandWales 2024-01-01 2024-12-31 07637052 2022-12-31 07637052 2023-12-31 07637052 2023-01-01 2023-12-31 07637052 frs-core:CurrentFinancialInstruments 2023-12-31 07637052 frs-core:ShareCapital 2023-12-31 07637052 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 07637052
Mermaid Medical Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Pennington Silver
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 07637052
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 24,284 48,570
24,284 48,570
CURRENT ASSETS
Stocks 5 22,771 22,768
Debtors 6 434,113 516,977
Cash at bank and in hand 501,892 325,847
958,776 865,592
Creditors: Amounts Falling Due Within One Year 7 (305,343 ) (383,463 )
NET CURRENT ASSETS (LIABILITIES) 653,433 482,129
TOTAL ASSETS LESS CURRENT LIABILITIES 677,717 530,699
NET ASSETS 677,717 530,699
CAPITAL AND RESERVES
Called up share capital 8 10,000 10,000
Profit and Loss Account 667,717 520,699
SHAREHOLDERS' FUNDS 677,717 530,699
For the year ending 31 December 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
Lars Vinther
Director
25/06/2025
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Mermaid Medical Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07637052 . The registered office is Room No. B1 Maghull Business Centre, 1 Liverpool Road North, Maghull, L31 2HB.
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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods.  Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets is the grant of distribution rights, these rights are amortised to profit and loss account over the estimated economic life of 7 years.
2.4. Stocks and Work in Progress
Stocks 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. 
2.5. Taxation
The tax expense represents the sum of the tax currently payable.
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.
Current tax for the year is recognised in profit or loss, except it relates to items that are recognised in other comprehensive income or directly in equity, in which case, the current tax is also 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: 9 (2023: 9)
9 9
4. Intangible Assets
Other
£
Cost
As at 1 January 2024 170,000
As at 31 December 2024 170,000
Amortisation
As at 1 January 2024 121,430
Provided during the period 24,286
As at 31 December 2024 145,716
Net Book Value
As at 31 December 2024 24,284
As at 1 January 2024 48,570
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Page 3
5. Stocks
2024 2023
£ £
Stock 22,771 22,768
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 418,384 508,380
Other debtors 15,729 8,597
434,113 516,977
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 4,903 6,365
Amounts owed to group undertakings 31,814 2,302
Other creditors 7,877 8,077
Taxation and social security 260,749 366,719
305,343 383,463
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10,000 10,000
9. Related Party Transactions
Durng the year ended 31st December 2024 the company bought £2,588,416 of goods from Mermaid Medical A/S, Mermaid Medical A/S is wholly owned by Egern Holdings A/S. (2023 £2,926,779).
During the year ended 31st December 2024 the company paid a management fee of £790,841 to Mermaid Medical A/S.  (2023 £nil).
The amount owed by the company to Mermaid Medical A/S at the balance sheet date was £31,814 (2023 amount owed to Mermaid Medical A/S £2,302).
10. Ultimate Controlling Party Not Known
The company is a subsidiary of Egern Holdings A/S.  The parent company's registered office and principal place of business is Egernvej 3, 3600 Frederikssund, Denmark.
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