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REGISTERED NUMBER: 08510252 (England and Wales)















MEDITECH ENDOSCOPY LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 OCTOBER 2024






MEDITECH ENDOSCOPY LTD (REGISTERED NUMBER: 08510252)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MEDITECH ENDOSCOPY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTOR: P Ramsey





REGISTERED OFFICE: C/O Smith Craven
Tapton Park Innovation Centre
Brimington Road
Tapton
S41 0TZ





REGISTERED NUMBER: 08510252 (England and Wales)





ACCOUNTANTS: Xeinadin
Tapton Park Innovation Centre
Brimington Road
Tapton
Chesterfield
Derbyshire
S41 0TZ

MEDITECH ENDOSCOPY LTD (REGISTERED NUMBER: 08510252)

BALANCE SHEET
31 OCTOBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 25,000 85,000
Tangible assets 5 140,898 111,361
165,898 196,361

CURRENT ASSETS
Stocks 210,244 197,652
Debtors 6 2,151,859 2,018,871
Cash at bank 39,147 20,884
2,401,250 2,237,407
CREDITORS
Amounts falling due within one year 7 1,202,825 1,028,652
NET CURRENT ASSETS 1,198,425 1,208,755
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,364,323

1,405,116

CREDITORS
Amounts falling due after more than one year 8 (318,468 ) (380,956 )

PROVISIONS FOR LIABILITIES (35,224 ) (27,840 )
NET ASSETS 1,010,631 996,320

MEDITECH ENDOSCOPY LTD (REGISTERED NUMBER: 08510252)

BALANCE SHEET - continued
31 OCTOBER 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 251 251
Share premium 504,303 504,303
Retained earnings 506,077 491,766
SHAREHOLDERS' FUNDS 1,010,631 996,320

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 28 July 2025 and were signed by:





P Ramsey - Director


MEDITECH ENDOSCOPY LTD (REGISTERED NUMBER: 08510252)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024


1. STATUTORY INFORMATION

Meditech Endoscopy 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.

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 represents net invoiced sales of goods, parts, licences, development and resale of patents.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


MEDITECH ENDOSCOPY LTD (REGISTERED NUMBER: 08510252)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 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.

Going concern
The financial statements have been prepared on a going concern basis which assumes that the company will have sufficient funds available to enable it to continue to trade for the foreseeable future. In making their assessment that the assumption is correct the director has undertaken an indepth review of the business, its current prospects and cash resources.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 November 2023
and 31 October 2024 600,000
AMORTISATION
At 1 November 2023 515,000
Charge for year 60,000
At 31 October 2024 575,000
NET BOOK VALUE
At 31 October 2024 25,000
At 31 October 2023 85,000

MEDITECH ENDOSCOPY LTD (REGISTERED NUMBER: 08510252)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2023 188,302
Additions 64,966
At 31 October 2024 253,268
DEPRECIATION
At 1 November 2023 76,941
Charge for year 35,429
At 31 October 2024 112,370
NET BOOK VALUE
At 31 October 2024 140,898
At 31 October 2023 111,361

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 222,064 349,861
Other debtors 308,548 281,773
530,612 631,634

Amounts falling due after more than one year:
Other debtors 1,621,247 1,387,237

Aggregate amounts 2,151,859 2,018,871

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 47,613 87,629
Hire purchase contracts 25,424 15,038
Trade creditors 777,195 684,151
Taxation and social security 21,882 18,838
Other creditors 330,711 222,996
1,202,825 1,028,652

MEDITECH ENDOSCOPY LTD (REGISTERED NUMBER: 08510252)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 29,167 71,668
Hire purchase contracts 74,717 55,129
Other creditors 214,584 254,159
318,468 380,956

9. SECURED DEBTS

There is a debenture secured by way of a fixed and floating charge over the undertaking.

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

A loan to the a director subsisted during the years ended 31 October 2024 and 31 October 2023:

2024 2023
£    £   
P Ramsey
Balance outstanding at start of year 167,967 123,040
Amounts advanced 22,179 44,927
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 190,146 167,967

11. RELATED PARTY DISCLOSURES

The company is under common control with Inov8 Medical Solutions Limited

During the year the company received management services from Inov8 Medical Solutions Limited which were charged a £213,241 (2023 : £386,599) for the year.

The company provided loans to Inov8 Medical Solutions Limited and at the year end the balance due from Inov8 Medical Solutions Limited was £1,621,247 (2023 : £1,387,237).

12. ULTIMATE CONTROLLING PARTY

The controlling party is P Ramsey.