REGISTERED NUMBER: 03263789 (England and Wales)

Financial Statements for the Year Ended 31st December 2024

for

Medichem Properties Ltd

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

T D Allsworth

C A Morris

R Lee

SECRETARY:

C A Morris

REGISTERED OFFICE:

Stalham Business Park

Rushenden Road

Queenborough

Kent

ME11 5HE

REGISTERED NUMBER:

03263789 (England and Wales)

ACCOUNTANTS:

Beak Kemmenoe

Chartered Accountants

1-3 Manor Road

Chatham

Kent

ME4 6AE

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Medichem Properties Ltd for the year ended 31st December 2024 which comprise the Income Statement, Balance Sheet and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

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

It is your duty to ensure that Medichem Properties Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Medichem Properties Ltd. You consider that Medichem Properties Ltd 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 financial statements of Medichem Properties Ltd. 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 financial statements.

Beak Kemmenoe

Chartered Accountants

1-3 Manor Road

Chatham

Kent

ME4 6AE

4th September 2025

FIXED ASSETS

Intangible assets

5

7,177

9,090

Tangible assets

6

88,423

100,755

Investments

7

68,508

68,618

Investment property

8

38,228,874

32,912,557

38,392,982

33,091,020

CURRENT ASSETS

Debtors

9

2,901,408

3,121,478

Investments

10

4,881,877

9,592,737

Cash at bank

7,843,114

8,110,058

15,626,399

20,824,273

CREDITORS

Amounts falling due within one year

11

874,169

14,933,253

NET CURRENT ASSETS

14,752,230

5,891,020

TOTAL ASSETS LESS CURRENT LIABILITIES

53,145,212

38,982,040

CREDITORS

Amounts falling due after more than one year

12

(40,662,520

)

(27,120,501

)

PROVISIONS FOR LIABILITIES

(1,594,031

)

(1,271,038

)

NET ASSETS

10,888,661

10,590,501

CAPITAL AND RESERVES

Called up share capital

2

2

Fair value reserve

14

5,392,819

5,239,090

Retained earnings

5,495,840

5,351,409

10,888,661

10,590,501

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

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

The directors acknowledge their 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 Board of Directors and authorised for issue on 4th September 2025 and were signed on its behalf by:

T D Allsworth - Director

1.	STATUTORY INFORMATION

Medichem Properties 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Preparation of consolidated financial statements

The Financial statements contain information about Medichem Properties Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Turnover

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

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.

Trademarks are being amortised evenly over their estimated useful life of seven years.

Tangible fixed assets

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

Plant and machinery

-

20% on reducing balance and 10% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

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.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 3 ) .

5.	INTANGIBLE FIXED ASSETS

Trademarks

£

COST

At 1st January 2024

and 31st December 2024

13,394

AMORTISATION

At 1st January 2024

4,304

Amortisation for year

1,913

At 31st December 2024

6,217

NET BOOK VALUE

At 31st December 2024

7,177

At 31st December 2023

9,090

6.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1st January 2024

and 31st December 2024

334,548

DEPRECIATION

At 1st January 2024

233,793

Charge for year

12,332

At 31st December 2024

246,125

NET BOOK VALUE

At 31st December 2024

88,423

At 31st December 2023

100,755

7.	FIXED ASSET INVESTMENTS

Share in

linked

undertaking

£

COST

At 1st January 2024

68,618

Disposals

(110

)

At 31st December 2024

68,508

NET BOOK VALUE

At 31st December 2024

68,508

At 31st December 2023

68,618

8.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st January 2024

32,912,557

Additions

5,316,317

At 31st December 2024

38,228,874

NET BOOK VALUE

At 31st December 2024

38,228,874

At 31st December 2023

32,912,557

Fair value at 31st December 2024 is represented by:

£

Valuation in 2017

9,717,030

Valuation in 2018

10,530,000

Valuation in 2020

4,751,950

Valuation in 2020

349,261

Valuation in 2021

21,268

Valuation in 2022

1,355,132

Valuation in 2023

6,187,916

Valuation in 2024

5,316,317

38,228,874

9.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Other debtors and prepayments

803,009

3,121,478

Amounts falling due after more than one year:

Other debtors

2,098,399

-

Aggregate amounts

2,901,408

3,121,478

10.	CURRENT ASSET INVESTMENTS

2024

2023

£

£

Unlisted investments

4,881,877

9,592,737

11.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

130,792

14,417,692

Corporation Tax

-

270,695

Other creditors and accruals

743,377

244,866

874,169

14,933,253

12.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 1-2 years

133,415

87,290

Bank loans - 2-5 years

408,726

274,741

Bank loans over 5 years

17,312,832

1,975,320

Directors' loan accounts

22,807,547

24,783,150

40,662,520

27,120,501

Amounts falling due in more than five years:

Repayable by instalments

Bank loans over 5 years

17,312,832

1,975,320

13.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

17,599,661

16,755,043

Secured on the assets concerned.

14.

RESERVES

Fair

value

reserve

£

At 1st January 2024

5,239,090

Revaluation of fixed assets

153,729

At 31st December 2024

5,392,819