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REGISTERED NUMBER: 03543457 (England and Wales)










Financial Statements

for the Year Ended 31 December 2024

for

Argon Medical Devices UK Ltd

Argon Medical Devices UK Ltd (Registered number: 03543457)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Argon Medical Devices UK Ltd

Company Information
for the Year Ended 31 December 2024







DIRECTORS: K Sawyer
J Holman





REGISTERED OFFICE: Argon Distribution & Education Centre
Stud Brook Business Park
Welsted Road
Castle Donington
Derbyshire
DE74 2ZB





REGISTERED NUMBER: 03543457 (England and Wales)





AUDITORS: Bourne & Co
Statutory Auditors
6 Lichfield Street
Burton-on-Trent
Staffordshire
DE14 3RD

Argon Medical Devices UK Ltd (Registered number: 03543457)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 18,649 38,806

CURRENT ASSETS
Stocks 574,404 588,194
Debtors 5 820,848 723,093
Cash at bank 704,267 802,576
2,099,519 2,113,863
CREDITORS
Amounts falling due within one year 6 1,161,424 1,356,807
NET CURRENT ASSETS 938,095 757,056
TOTAL ASSETS LESS CURRENT
LIABILITIES

956,744

795,862

CAPITAL AND RESERVES
Called up share capital 8 95 95
Capital redemption reserve 5 5
Retained earnings 956,644 795,762
SHAREHOLDERS' FUNDS 956,744 795,862

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 30 June 2025 and were signed on its behalf by:





J Holman - Director


Argon Medical Devices UK Ltd (Registered number: 03543457)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Argon Medical Devices UK Ltd 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 is recognised at the point of despatch of goods to the customer.

Tangible fixed assets
Tangible fixed assets are included at cost less depreciation and impairment. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Equipment, fixtures and
fittings

-

variable rates on reducing balance or cost
Motor vehicles- 25% on reducing balance

Stocks
Stocks have been valued at the lower of cost and estimated selling price less costs to sell. Provision is made for obsolete and slow-moving stock where appropriate.

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.


Argon Medical Devices UK Ltd (Registered number: 03543457)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued
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.

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.

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.

Debtors
Short term debtors are measured at transaction price less any impairment. Any losses arising from impairment are recognised in profit or loss.

Creditors
Short term creditors are measured at transaction price.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 15 ) .

Argon Medical Devices UK Ltd (Registered number: 03543457)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

4. TANGIBLE FIXED ASSETS
Equipment,
fixtures Motor
& fittings vehicles Totals
£    £    £   
COST
At 1 January 2024 190,237 23,967 214,204
Additions 5,541 - 5,541
Disposals (736 ) - (736 )
At 31 December 2024 195,042 23,967 219,009
DEPRECIATION
At 1 January 2024 155,660 19,738 175,398
Charge for year 24,640 1,058 25,698
Eliminated on disposal (736 ) - (736 )
At 31 December 2024 179,564 20,796 200,360
NET BOOK VALUE
At 31 December 2024 15,478 3,171 18,649
At 31 December 2023 34,577 4,229 38,806

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 441,195 437,003
Other debtors 379,653 286,090
820,848 723,093

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 97,716 148,514
Amounts owed to group undertakings 645,659 753,199
Taxation and social security 136,195 119,849
Other creditors 281,854 335,245
1,161,424 1,356,807

Argon Medical Devices UK Ltd (Registered number: 03543457)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.24 31.12.23
£    £   
Within one year 63,192 93,324
Between one and five years 83,544 113,326
146,736 206,650

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
95 Ordinary £1 95 95






9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Callum Edwards BFP ACA (Senior Statutory Auditor)
for and on behalf of Bourne & Co

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Shandong Weigao Group Medical Polymer Company Limited.

Shandong Weigao Group Medical Polymer Company Limited is a company registered in the Peoples Republic of China.

Shandong Weigao Group Medical Polymer Company Limited prepares consolidated accounts for the group and are publicly available from its own website weigaogroup.com.

Argon Medical Devices Inc, registered address 7800 Dallas Parkway, Suite 200 Plano, TX 75024, USA, is the immediate parent company of Argon Medical Devices UK Ltd.