Registered number
07758655
Nereus Medical Ltd
Unaudited Filleted Accounts
30 September 2024
Nereus Medical Ltd
Registered number: 07758655
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 3,151 3,392
Tangible assets 4 1,971 1,901
5,122 5,293
Current assets
Stocks 11,700 -
Debtors 5 552 1,287
Cash at bank and in hand 10,386 12,923
22,638 14,210
Creditors: amounts falling due within one year 6 (24,693) (25,280)
Net current liabilities (2,055) (11,070)
Total assets less current liabilities 3,067 (5,777)
Provisions for liabilities (375) (361)
Net assets/(liabilities) 2,692 (6,138)
Capital and reserves
Called up share capital 100 100
Profit and loss account 2,592 (6,238)
Shareholders' funds 2,692 (6,138)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Dr R Hemingway
Director
Approved by the board on 27 June 2025
Nereus Medical Ltd
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). The financial statements are presented in sterling which is the functional currency of the company and are rounded to the nearest £.
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 rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 years
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable and payable within one year are recorded at transaction price. Any losses from impairment are recognised in the profit and loss account in other administrative expenses.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Patents and trademarks:
Cost
At 1 October 2023 4,070
Additions 525
At 30 September 2024 4,595
Amortisation
At 1 October 2023 678
Provided during the year 766
At 30 September 2024 1,444
Net book value
At 30 September 2024 3,151
At 30 September 2023 3,392
Patents and trademarks are being written off in equal annual instalments over its estimated economic life of 6 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2023 8,938
Additions 2,078
At 30 September 2024 11,016
Depreciation
At 1 October 2023 7,037
Charge for the year 2,008
At 30 September 2024 9,045
Net book value
At 30 September 2024 1,971
At 30 September 2023 1,901
5 Debtors 2024 2023
£ £
Trade debtors - 500
Prepayments and accrued income 451 296
Other debtors 101 491
552 1,287
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors - 5,712
Taxation and social security costs 2,064 -
Other creditors 22,629 19,568
24,693 25,280
7 Other information
Nereus Medical Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Maples Exton Lane
Exton
Exeter
Devon
EX3 0PN
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