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Company Registration No. 11813151 (England and Wales)
Medisonal Ltd Unaudited accounts for the period from 1 March 2024 to 30 September 2024
Medisonal Ltd Unaudited accounts Contents
Page
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Medisonal Ltd Company Information for the period from 1 March 2024 to 30 September 2024
Directors
Lloyd Michaels Andrea Bai Badino Sharon Clift Hana Salussolia Carl Woolf Donald William Featherstone
Company Number
11813151 (England and Wales)
Registered Office
55-56 Russell Square London WC1B 4HP United Kingdom
Accountants
The Accountancy Cloud 1 Fore Street Avenue London EC2Y 9DT
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Medisonal Ltd Statement of financial position as at 30 September 2024
30/09/2024 
29/02/2024 
Notes
£ 
£ 
Fixed assets
Intangible assets
2,323 
- 
Tangible assets
4,065 
4,699 
Investments
10,021 
10,021 
16,409 
14,720 
Current assets
Debtors
95,232 
140,183 
Cash at bank and in hand
203,894 
662,034 
299,126 
802,217 
Creditors: amounts falling due within one year
(43,525)
(34,676)
Net current assets
255,601 
767,541 
Total assets less current liabilities
272,010 
782,261 
Provisions for liabilities
Deferred tax
- 
(893)
Net assets
272,010 
781,368 
Capital and reserves
Called up share capital
145 
145 
Share premium
2,083,901 
2,083,901 
Profit and loss account
(1,812,036)
(1,302,678)
Shareholders' funds
272,010 
781,368 
For the period ending 30 September 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 17 December 2024 and were signed on its behalf by
Hana Salussolia Director Company Registration No. 11813151
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Medisonal Ltd Notes to the Accounts for the period from 1 March 2024 to 30 September 2024
1
Statutory information
Medisonal Ltd is a private company, limited by shares, registered in England and Wales, registration number 11813151. The registered office is 55-56 Russell Square, London, WC1B 4HP, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Investments
Investments in shares are included at cost less impairment.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
50% Straight Line Method
Computer equipment
20% Straight Line Method
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Going concern
The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing its financial statements.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Research and development tax credit
During the financial year, Medisonal Ltd received a tax credit for qualifying research and development expenditure under the Research and Development tax relief scheme. This is presented as a tax repayment in the Statement of Profit or Loss in line with disclosure requirements under FRS 102.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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Medisonal Ltd Notes to the Accounts for the period from 1 March 2024 to 30 September 2024
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Foreign exchange
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Prior period restatement
During the year, it was noted that several balances were incorrect due to corporation tax being accounted for on the cash basis, instead of the accruals basis. Therefore, the following adjustments were made to the prior year: - Profit and loss increased by £10,607 to a loss of £535,620. - Accrued income and prepayments increased by £110,998 to £128,940. - Accruals increased by £9,925 to £9,925. - Retained loss decreased by £101,074 to £1,302,678.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 March 2024
- 
Additions
2,403 
At 30 September 2024
2,403 
Amortisation
At 1 March 2024
- 
Charge for the period
80 
At 30 September 2024
80 
Net book value
At 30 September 2024
2,323 
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Medisonal Ltd Notes to the Accounts for the period from 1 March 2024 to 30 September 2024
5
Tangible fixed assets
Plant & machinery 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 March 2024
433 
7,797 
8,230 
Additions
- 
400 
400 
At 30 September 2024
433 
8,197 
8,630 
Depreciation
At 1 March 2024
342 
3,189 
3,531 
Charge for the period
91 
943 
1,034 
At 30 September 2024
433 
4,132 
4,565 
Net book value
At 30 September 2024
- 
4,065 
4,065 
At 29 February 2024
91 
4,608 
4,699 
6
Investments
Other investments 
£ 
Valuation at 1 March 2024
10,021 
Valuation at 30 September 2024
10,021 
Investments includes the following: - Investment of £53 (29 February 2024: £53) in Liberum Health, a subsidiary company. - Investment of £9,968 (29 February 2024: £9,968) in Medisonal CE, a subsidiary company.
7
Debtors
30/09/2024 
29/02/2024 
£ 
£ 
Amounts falling due within one year
VAT
16,239 
6,343 
Trade debtors
12,000 
- 
Amounts due from group undertakings etc.
- 
4,900 
Accrued income and prepayments
65,890 
128,940 
Other debtors
1,103 
- 
95,232 
140,183 
8
Creditors: amounts falling due within one year
30/09/2024 
29/02/2024 
£ 
£ 
Trade creditors
20,722 
13,290 
Taxes and social security
- 
1,247 
Other creditors
2,800 
(156)
Loans from directors
13,995 
10,370 
Accruals
6,008 
9,925 
43,525 
34,676 
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Medisonal Ltd Notes to the Accounts for the period from 1 March 2024 to 30 September 2024
9
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Lloyd Michaels
10,370 
3,625 
- 
13,995 
10,370 
3,625 
- 
13,995 
Directors' loans are interest-free and repayable on demand.
10
Transactions with related parties
During the year, Medisonal Ltd wrote off debt of £8,541 due from Liberum Health Ltd. As at the period end, the balance due is £nil (31 February 2024: £4,900).
11
Average number of employees
During the period the average number of employees was 10 (29/02/2024: 7).
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