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Registration number: 04100627

AVN Medical Limited

Unaudited Financial Statements

31 March 2025

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AVN Medical Limited

Contents

Accountants' Report

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

4

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
AVN Medical Limited
for the Year Ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of AVN Medical Limited for the year ended 31 March 2025 as set out on pages 2 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of AVN Medical Limited, as a body, in accordance with the terms of our engagement letter dated 9 August 2023. Our work has been undertaken solely to prepare for your approval the accounts of AVN Medical Limited and state those matters that we have agreed to state to the Board of Directors of AVN Medical Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than AVN Medical Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that AVN Medical Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of AVN Medical Limited. You consider that AVN Medical Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of AVN Medical Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.



Dodd & Co Limited
Chartered Accountants
Clint Mill
Cornmarket
PENRITH
CA11 7HW

28 July 2025

 

AVN Medical Limited

(Registration number: 04100627)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Intangible assets

4

208,560

232,170

Tangible assets

5

19,992

22,800

 

228,552

254,970

Current assets

 

Stocks

119,504

128,124

Debtors

6

235,848

230,288

Cash at bank and in hand

 

194,292

71,732

 

549,644

430,144

Creditors: Amounts falling due within one year

7

(532,676)

(509,714)

Net current assets/(liabilities)

 

16,968

(79,570)

Total assets less current liabilities

 

245,520

175,400

Provisions for liabilities

(4,926)

(4,272)

Net assets

 

240,594

171,128

Capital and reserves

 

Allotted, called up and fully paid share capital

120

120

Profit and loss account

240,474

171,008

Total equity

 

240,594

171,128

 

AVN Medical Limited

(Registration number: 04100627)
Balance Sheet as at 31 March 2025 (continued)

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 July 2025
 

.........................................

S Y Wong

Director

 

AVN Medical Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Clint Mill
Cornmarket
PENRITH
CA11 7HW

The principal place of business is:
33 High Street
Catterick
RICHMOND
DL10 7LL
and
19-20 Broadway
Colburn
Catterick Garrison
DL9 4RF

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

AVN Medical Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance basis

Furniture, fittings and office equipment

25% reducing balance basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

AVN Medical Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

Trade debtors

Trade debtors are amounts due from customers for the sale of goods or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method where due after more than one year.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 14 (2024 - 9).

 

AVN Medical Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2024

236,105

236,105

At 31 March 2025

236,105

236,105

Amortisation

At 1 April 2024

3,935

3,935

Amortisation charge

23,610

23,610

At 31 March 2025

27,545

27,545

Carrying amount

At 31 March 2025

208,560

208,560

At 31 March 2024

232,170

232,170

5

Tangible assets

Land and buildings
£

Motor vehicles
 £

Furniture, fittings and office equipment
 £

Total
£

Cost or valuation

At 1 April 2024

130,638

6,500

29,722

166,860

Additions

-

-

3,416

3,416

At 31 March 2025

130,638

6,500

33,138

170,276

Depreciation

At 1 April 2024

130,638

6,500

6,922

144,060

Charge for the year

-

-

6,224

6,224

At 31 March 2025

130,638

6,500

13,146

150,284

Carrying amount

At 31 March 2025

-

-

19,992

19,992

At 31 March 2024

-

-

22,800

22,800

 

AVN Medical Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

6

Debtors

2025
£

2024
£

Trade debtors

188,665

184,017

Amounts owed by group undertakings and undertakings in which the company has a participating interest

9,118

3,756

Other debtors

38,065

42,515

235,848

230,288

7

Creditors

2025
£

2024
£

Due within one year

 

Trade creditors

 

264,553

257,014

Amounts owed to group undertakings and undertakings in which the company has a participating interest

 

230,015

246,971

Corporation tax liability

 

32,170

-

Other creditors

 

5,938

5,729

 

532,676

509,714

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £137,499 (2024 - £147,499). This is in relaton to a property lease expiring in January 2039.

The total amount of guarantees not included in the balance sheet is £1,811,195 (2024 - £1,886,533). Barclays Bank PLC hold fixed and floating charges in respect of the company's assets. The security relates to a cross company guarantee against bank loans obtained by H & W Pharma Limited (the parent company.)