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Company Registration No. 06587888 (England and Wales)
MediChest Limited Filleted accounts for the year ended 31 October 2024
MediChest Limited Filleted accounts Contents
Page
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MediChest Limited Company Information for the year ended 31 October 2024
Directors
Bharatkumar Maru Ebrahim Farook Aziz
Company Number
06587888 (England and Wales)
Registered Office
2-3 Berrymoor Court Wellingborough Northamptonshire NN8 2DL
Accountants
YP Finance Hawthorne House 17A Hawthorne Drive Leicester Leicestershire LE5 6DL
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MediChest Limited Statement of financial position as at 31 October 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,678 
- 
Current assets
Inventories
188,790 
156,295 
Debtors
122,727 
205,436 
Cash at bank and in hand
(30,725)
(32,500)
280,792 
329,231 
Creditors: amounts falling due within one year
(342,448)
(220,106)
Net current (liabilities)/assets
(61,656)
109,125 
Total assets less current liabilities
(59,978)
109,125 
Creditors: amounts falling due after more than one year
(95,907)
(136,245)
Net liabilities
(155,885)
(27,120)
Capital and reserves
Called up share capital
4 
4 
Profit and loss account
(155,889)
(27,124)
Shareholders' funds
(155,885)
(27,120)
For the year ending 31 October 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 21 August 2025 and were signed on its behalf by
Ebrahim Farook Aziz Director Company Registration No. 06587888
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MediChest Limited Notes to the Accounts for the year ended 31 October 2024
1
Statutory information
MediChest Limited is a private company, limited by shares, registered in England and Wales, registration number 06587888. The registered office is 2-3 Berrymoor Court , Wellingborough, Northamptonshire, NN8 2DL.
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 year, 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Motor vehicles
15% straight line
Fixtures & fittings
15% straight line
Computer equipment
33% straight line
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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.
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MediChest Limited Notes to the Accounts for the year ended 31 October 2024
Going concern
The financial statements have been prepared on a going concern basis. Although the company’s net assets are negative, the directors consider it appropriate as the company is expected to meet its liabilities as they fall due.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 November 2023
357,999 
At 31 October 2024
357,999 
Amortisation
At 1 November 2023
357,999 
At 31 October 2024
357,999 
Net book value
At 31 October 2024
- 
5
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 November 2023
9,214 
96,478 
- 
105,692 
Additions
- 
- 
1,988 
1,988 
At 31 October 2024
9,214 
96,478 
1,988 
107,680 
Depreciation
At 1 November 2023
9,214 
96,478 
- 
105,692 
Charge for the year
- 
- 
310 
310 
At 31 October 2024
9,214 
96,478 
310 
106,002 
Net book value
At 31 October 2024
- 
- 
1,678 
1,678 
6
Inventories
2024 
2023 
£ 
£ 
Finished goods
188,790 
156,295 
188,790 
156,295 
7
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
11,810 
15,463 
Trade debtors
105,518 
184,574 
Accrued income and prepayments
5,399 
5,399 
122,727 
205,436 
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MediChest Limited Notes to the Accounts for the year ended 31 October 2024
8
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
130,690 
40,376 
Trade creditors
137,508 
153,028 
Taxes and social security
37,822 
18,396 
Other creditors
34,865 
6,743 
Accruals
1,563 
1,563 
342,448 
220,106 
9
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
33,559 
77,309 
Other creditors
62,348 
58,936 
95,907 
136,245 
10
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
2 A Ordinary shares of £1 each
2 
2 
2 B Ordinary Shares of £1 each
2 
2 
4 
4 
11
Average number of employees
During the year the average number of employees was 9 (2023: 9).
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