REGISTERED NUMBER: 03628899 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

EXTRAN MEDICA LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Statement of Comprehensive Income

9

Statement of Financial Position

10

Statement of Changes in Equity

11

Statement of Cash Flows

12

Notes to the Statement of Cash Flows

13

Notes to the Financial Statements

15

DIRECTORS:

J J Odabasian

A J Odabasian

SECRETARY:

A J Odabasian

REGISTERED OFFICE:

Eagle House

28 Billing Road

Northampton

Northamptonshire

NN1 5AJ

REGISTERED NUMBER:

03628899 (England and Wales)

AUDITORS:

Shaw Gibbs (Audit) Limited

Chartered Certified Accountants

Statutory Auditor

Eagle House

28 Billing Road

Northampton

Northamptonshire

NN1 5AJ

The directors present their strategic report for the year ended 30 September 2024.

REVIEW OF BUSINESS

The results for the year and financial position of the company are as shown in the annexed financial statements.

Total turnover on continuing operations increased by £580,116 to £5,222,543. Net profit before tax was £262,114, representing a net margin of 5 .0% on sales, an increase of 1.6% on 2023 performance.

Significant effort and cost was put into improving the already efficient and cost-effective business to help ensure that net profit was still healthy despite the cost increases faced by businesses..

Cash flow generated from operations remains strong and the company continued with its policy of investment in its fleet and in the course of the year purchased capital expenditure totalling £1,159,240.

Total capital and reserves at the year-end increased by £111,379 to £1,265,503.

PRINCIPAL RISKS AND UNCERTAINTIES

The principle risks to the business include;

- the general economic climate

- rising fuel costs

- fluctuation in interest rates

- employment and company taxation increases

SIGNED BY ORDER OF THE DIRECTORS:

J J Odabasian - Director

8 September 2025

The directors present their report with the financial statements of the company for the year ended 30 September 2024.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the provision of freight transport services.

DIVIDENDS

The total distribution of dividends for the year ended 30 September 2024 will be £77,667, (2023: £77,667).

FUTURE DEVELOPMENTS

The company expects to continue to grow as medical scanning services increase and is looking to further expand its fleet in the coming year.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 October 2023 to the date of this report.

J J Odabasian

A J Odabasian

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Shaw Gibbs (Audit) Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

SIGNED BY ORDER OF THE DIRECTORS:

J J Odabasian - Director

8 September 2025

Qualified Opinion

We have audited the financial statements of Extran Medica Limited (the 'company') for the year ended 30 September 2024 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion, except for the effects of adjustments, if any, which we might have determined to be necessary had we been able to audit the opening stock, as described in the Basis for qualified opinion paragraph, the financial statements:

- give a true and fair view of the state of the state of the company's affairs as at 30 September 2024 and of the company's profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for qualified opinion on financial statements

We were unable to obtain sufficient appropriate audit evidence on the opening stock as at 1 October 2023 as we did not attend the stockake since that date was prior to our appointment as auditors. We were unable to satisfy ourselves as to the existence and valuation at that date by other audit procedures. Since opening stock enters into the determination of the results for the year ended 30 September 2024, we were unable to determine whether adjustments to the results for the year might be necessary.

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Other matter

The prior period financial statements were not audited.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory frameworks within which the company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006, United Kingdom Generally Accepted Accounting Practice and relevant Taxation legislation.We also considered those that may have a fundamental effect on the operations of the entity such as employment law, health and safety and nuclear regulation.

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be the override of controls by management, and the understatement of revenue. Our audit procedures to respond to these risks included enquiries of management about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing meeting minutes, regulatory correspondence and professional fees, detailed substantive testing on the completeness of income, and reviewing accounting estimates for biases. We obtained an understanding of the regulatory requirements of the Office for Nuclear regulation in respect of the operations of the company and undertook work to assess compliance with those requirements.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

These inherent limitations are particularly significant in the case of misstatement resulting from fraud as this may involve sophisticated schemes designed to avoid detection, including deliberate failure to record transactions, collusion or the provision of intentional misrepresentations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Robyn Liddell (Senior Statutory Auditor)

for and on behalf of Shaw Gibbs (Audit) Limited

Chartered Certified Accountants

Statutory Auditor

Eagle House

28 Billing Road

Northampton

Northamptonshire

NN1 5AJ

8 September 2025

TURNOVER

3

5,222,543

4,642,427

Cost of sales

1,088,626

1,000,419

GROSS PROFIT

4,133,917

3,642,008

Administrative expenses

3,665,760

3,313,014

OPERATING PROFIT

5

468,157

328,994

Interest receivable and similar income

11,183

4,128

479,340

333,122

Interest payable and similar expenses

6

217,226

175,547

PROFIT BEFORE TAXATION

262,114

157,575

Tax on profit

7

73,068

110,599

PROFIT FOR THE FINANCIAL YEAR

189,046

46,976

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

189,046

46,976

FIXED ASSETS

Tangible assets

9

2,900,824

2,692,550

CURRENT ASSETS

Stocks

10

140,660

70,261

Debtors

11

2,315,157

2,297,708

Cash at bank

77,977

120,394

2,533,794

2,488,363

CREDITORS

Amounts falling due within one year

12

2,750,095

2,589,650

NET CURRENT LIABILITIES

(216,301

)

(101,287

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,684,523

2,591,263

CREDITORS

Amounts falling due after more than one year

13

(981,851

)

(1,058,284

)

PROVISIONS FOR LIABILITIES

17

(437,169

)

(378,855

)

NET ASSETS

1,265,503

1,154,124

CAPITAL AND RESERVES

Called up share capital

18

100

100

Retained earnings

19

1,265,403

1,154,024

SHAREHOLDERS' FUNDS

1,265,503

1,154,124

The financial statements were approved by the Board of Directors and authorised for issue on 8 September 2025 and were signed on its behalf by:

J J Odabasian - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 30 September 2022

100

1,184,715

1,184,815

Changes in equity

Dividends

-

(77,667

)

(77,667

)

Total comprehensive income

-

46,976

46,976

Balance at 30 September 2023

100

1,154,024

1,154,124

Changes in equity

Dividends

-

(77,667

)

(77,667

)

Total comprehensive income

-

189,046

189,046

Balance at 30 September 2024

100

1,265,403

1,265,503

Cash flows from operating activities

Cash generated from operations

1

1,220,449

1,176,740

Interest paid

(120,547

)

(107,508

)

Interest element of hire purchase payments paid

(96,679

)

(68,039

)

Tax paid

(103,902

)

-

Net cash from operating activities

899,321

1,001,193

Cash flows from investing activities

Purchase of tangible fixed assets

(1,159,240

)

(936,204

)

Sale of tangible fixed assets

205,741

107,083

Impairment of fixed assets

-

188,381

Interest received

11,183

4,128

Net cash from investing activities

(942,316

)

(636,612

)

Cash flows from financing activities

New loans in year

577,490

-

Loan repayments in year

(554,977

)

(113,214

)

New HP in the year

675,046

601,725

Capital repayments in year

(683,225

)

(558,088

)

Amount introduced by directors

553,366

90,497

Amount withdrawn by directors

(489,455

)

(258,651

)

Equity dividends paid

(77,667

)

(77,667

)

Net cash from financing activities

578

(315,398

)

(Decrease)/increase in cash and cash equivalents

(42,417

)

49,183

Cash and cash equivalents at beginning of year

2

120,394

71,211

Cash and cash equivalents at end of year

2

77,977

120,394

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

Period

30/9/22

Year Ended

to

30/9/24

30/9/23

£

£

Profit before taxation

262,114

157,575

Depreciation charges

785,241

654,397

(Profit)/loss on disposal of fixed assets

(40,016

)

40,371

Finance costs

217,226

175,547

Finance income

(11,183

)

(4,128

)

1,213,382

1,023,762

Increase in stocks

(70,399

)

(13,261

)

Increase in trade and other debtors

(81,360

)

(231,019

)

Increase in trade and other creditors

158,826

397,258

Cash generated from operations

1,220,449

1,176,740

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 30 September 2024

30/9/24

1/10/23

£

£

Cash and cash equivalents

77,977

120,394

Period ended 30 September 2023

30/9/23

30/9/22

£

£

Cash and cash equivalents

120,394

71,211

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1/10/23

Cash flow

At 30/9/24

£

£

£

Net cash

Cash at bank

120,394

(42,417

)

77,977

120,394

(42,417

)

77,977

Debt

Finance leases

(1,107,229

)

8,179

(1,099,050

)

Debts falling due within 1 year

(135,425

)

(116,180

)

(251,605

)

Debts falling due after 1 year

(527,570

)

93,667

(433,903

)

(1,770,224

)

(14,334

)

(1,784,558

)

Total

(1,649,830

)

(56,751

)

(1,706,581

)

1.	STATUTORY INFORMATION

Extran Medica Limited 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed within the individual accounting policies below.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

2% on cost

Plant and machinery

-

25% on reducing balance and 5% on cost

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on cost

Computer equipment

-

25% on reducing balance

Fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Where parts of an item of property, plant and equipment have different useful lives, they are accounted for as separate items of property, plant and equipment.

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use. Depreciation is charged from when the asset is complete and ready for use.

Stocks

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

Financial instruments

Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income under administrative expenses.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

4.	EMPLOYEES AND DIRECTORS

Period

30/9/22

Year Ended

to

30/9/24

30/9/23

£

£

Wages and salaries

2,274,510

1,885,234

Social security costs

227,682

180,154

Other pension costs

41,139

34,799

2,543,331

2,100,187

The average number of employees during the year was as follows:

Period

30/9/22

Year Ended

to

30/9/24

30/9/23

Production

73

62

Administration

4

4

77

66

Period

30/9/22

Year Ended

to

30/9/24

30/9/23

£

£

Directors' remuneration

80,369

79,920

Directors' pension contributions to money purchase schemes

2,052

2,023

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes

2

2

5.	OPERATING PROFIT

The operating profit is stated after charging/(crediting):

Period

30/9/22

Year Ended

to

30/9/24

30/9/23

£

£

Depreciation - owned assets

233,894

232,181

Depreciation - assets on hire purchase contracts

551,347

422,215

(Profit)/loss on disposal of fixed assets

(40,016

)

40,371

Auditors' remuneration

9,000

-

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

Period

30/9/22

Year Ended

to

30/9/24

30/9/23

£

£

Bank loan interest

102,519

68,605

Other interest payable

18,028

38,903

Hire purchase

96,679

68,039

217,226

175,547

7.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

Period

30/9/22

Year Ended

to

30/9/24

30/9/23

£

£

Current tax:

UK corporation tax

14,754

10,718

Deferred tax

58,314

99,881

Tax on profit

73,068

110,599

UK corporation tax has been charged at 25% .

Reconciliation of total tax charge included in profit and loss

The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

Period

30/9/22

Year Ended

to

30/9/24

30/9/23

£

£

Profit before tax

262,114

157,575

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2023 - 25%)

65,529

39,394

Effects of:

Expenses not deductible for tax purposes

10,241

147,732

Marginal relief

(2,702

)

(1,474

)

Change in Tax rates

-

(1,570

)

Utilisation of tax losses

-

(73,483

)

Total tax charge

73,068

110,599

8.

DIVIDENDS

Period

30/9/22

Year Ended

to

30/9/24

30/9/23

£

£

Interim

77,667

77,667