Company registration number NI610684 (Northern Ireland)
SURE MEDICINE LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
SURE MEDICINE LTD
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 11
SURE MEDICINE LTD
BALANCE SHEET
AS AT
31 OCTOBER 2024
31 October 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
6
21,275
13,412
Current assets
Stocks
7
47,995
48,590
Debtors
8
99,943
369,326
Cash at bank and in hand
15,907
41,878
163,845
459,794
Creditors: amounts falling due within one year
9
(105,594)
(160,532)
Net current assets
58,251
299,262
Total assets less current liabilities
79,526
312,674
Creditors: amounts falling due after more than one year
10
(7,233)
(17,539)
Provisions for liabilities
Deferred tax liability
11
5,207
2,548
(5,207)
(2,548)
Net assets
67,086
292,587
Capital and reserves
Called up share capital
12
10
10
Profit and loss reserves
67,076
292,577
Total equity
67,086
292,587
SURE MEDICINE LTD
BALANCE SHEET (CONTINUED)
AS AT
31 OCTOBER 2024
31 October 2024
- 2 -

For the financial year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 12 September 2025 and are signed on its behalf by:
Mr Steven Lowery
Director
Company registration number NI610684 (Northern Ireland)
SURE MEDICINE LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2024
- 3 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 November 2022
10
235,169
235,179
Year ended 31 October 2023:
Profit and total comprehensive income
-
57,408
57,408
Balance at 31 October 2023
10
292,577
292,587
Year ended 31 October 2024:
Loss and total comprehensive income
-
(26,796)
(26,796)
Dividends
-
(198,705)
(198,705)
Balance at 31 October 2024
10
67,076
67,086
SURE MEDICINE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
- 4 -
1
Accounting policies
Company information

Sure Medicine Ltd is a private company limited by shares incorporated in Northern Ireland. The registered office is 2nd Floor, Donegall House, 98-102 Donegall Street, Belfast, BT1 2GW.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recover able.

SURE MEDICINE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 5 -
1.4
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 8 years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
20% Reducing Balance
Fixtures and fittings
20% Reducing Balance
Computers
20% Reducing Balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

SURE MEDICINE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 6 -
1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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 company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

SURE MEDICINE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 7 -
1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.11
Derivatives

Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to fair value at each reporting end date. The resulting gain or loss is recognised in profit or loss immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in profit or loss depends on the nature of the hedge relationship.

A derivative with a positive fair value is recognised as a financial asset, whereas a derivative with a negative fair value is recognised as a financial liability.

1.12
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.13
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.14
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

SURE MEDICINE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 8 -
1.15
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
9
9
4
Directors' remuneration
2024
2023
£
£
Remuneration for qualifying services
12,250
9,900
5
Intangible fixed assets
Goodwill
£
Cost
At 1 November 2023 and 31 October 2024
243,500
Amortisation and impairment
At 1 November 2023 and 31 October 2024
243,500
Carrying amount
At 31 October 2024
-
0
At 31 October 2023
-
0
SURE MEDICINE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 9 -
6
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 November 2023
1,408
38,360
4,495
44,263
Additions
-
0
13,181
-
0
13,181
At 31 October 2024
1,408
51,541
4,495
57,444
Depreciation and impairment
At 1 November 2023
282
29,670
899
30,851
Depreciation charged in the year
225
4,374
719
5,318
At 31 October 2024
507
34,044
1,618
36,169
Carrying amount
At 31 October 2024
901
17,497
2,877
21,275
At 31 October 2023
1,126
8,690
3,596
13,412
7
Stocks
2024
2023
£
£
Finished goods and goods for resale
47,995
48,590
8
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
90,932
69,057
Amounts owed by group undertakings
-
0
198,705
Other debtors
9,011
101,564
99,943
369,326
SURE MEDICINE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 10 -
9
Creditors: amounts falling due within one year
2024
2023
Notes
£
£
Bank loans
10,058
9,809
Other borrowings
-
0
10,862
Trade creditors
66,150
98,292
Corporation tax
25,613
15,065
Other taxation and social security
557
-
0
Other creditors
1,216
24,504
Accruals and deferred income
2,000
2,000
105,594
160,532
10
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
7,233
17,539
11
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
5,207
2,548
2024
Movements in the year:
£
Liability at 1 November 2023
2,548
Charge to profit or loss
2,659
Liability at 31 October 2024
5,207
12
Share capital
2024
2023
Ordinary share capital
£
£
Issued and fully paid
Ordinary Shares of £1 each
10
10
SURE MEDICINE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 11 -
13
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

The following amounts were outstanding at the reporting end date:

2024
2023
Amounts due to related parties
£
£
Key management personnel
-
21,285

The following amounts were outstanding at the reporting end date:

2024
2023
Amounts due from related parties
£
£
Entities with control, joint control or significant influence over the company
-
198,705
Key management personnel
-
68,818
14
Ultimate controlling party

The parent company of Sure Medicine Ltd is L & Q Holdings Ltd and its registered office is 2nd Floor, Donegall House, 98-102 Donegall Street, Belfast, BT1 2GW

2024-10-31 2023-11-01 false false false 12 September 2025 CCH Software CCH Accounts Production 2025.100 No description of principal activity Mr S Lowery Mrs L Lowery NI610684 2023-11-01 2024-10-31 NI610684 2024-10-31 NI610684 2023-10-31 NI610684 core:PlantMachinery 2024-10-31 NI610684 core:FurnitureFittings 2024-10-31 NI610684 core:ComputerEquipment 2024-10-31 NI610684 core:PlantMachinery 2023-10-31 NI610684 core:FurnitureFittings 2023-10-31 NI610684 core:ComputerEquipment 2023-10-31 NI610684 core:ShareCapital 2024-10-31 NI610684 core:ShareCapital 2023-10-31 NI610684 core:RetainedEarningsAccumulatedLosses 2024-10-31 NI610684 core:RetainedEarningsAccumulatedLosses 2023-10-31 NI610684 core:ShareCapital 2022-10-31 NI610684 core:RetainedEarningsAccumulatedLosses 2022-10-31 NI610684 core:ShareCapitalOrdinaryShareClass1 2024-10-31 NI610684 core:ShareCapitalOrdinaryShareClass1 2023-10-31 NI610684 bus:Director1 2023-11-01 2024-10-31 NI610684 core:RetainedEarningsAccumulatedLosses 2022-11-01 2023-10-31 NI610684 2022-11-01 2023-10-31 NI610684 core:RetainedEarningsAccumulatedLosses 2023-11-01 2024-10-31 NI610684 core:Goodwill 2023-11-01 2024-10-31 NI610684 core:PlantMachinery 2023-11-01 2024-10-31 NI610684 core:FurnitureFittings 2023-11-01 2024-10-31 NI610684 core:ComputerEquipment 2023-11-01 2024-10-31 NI610684 core:Goodwill 2023-10-31 NI610684 core:Goodwill 2024-10-31 NI610684 core:Goodwill 2023-10-31 NI610684 core:PlantMachinery 2023-10-31 NI610684 core:FurnitureFittings 2023-10-31 NI610684 core:ComputerEquipment 2023-10-31 NI610684 2023-10-31 NI610684 core:CurrentFinancialInstruments 2024-10-31 NI610684 core:CurrentFinancialInstruments 2023-10-31 NI610684 core:Non-currentFinancialInstruments 2024-10-31 NI610684 core:Non-currentFinancialInstruments 2023-10-31 NI610684 bus:OrdinaryShareClass1 2023-11-01 2024-10-31 NI610684 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 NI610684 bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 NI610684 bus:FRS102 2023-11-01 2024-10-31 NI610684 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 NI610684 bus:Director2 2023-11-01 2024-10-31 NI610684 bus:FullAccounts 2023-11-01 2024-10-31 xbrli:pure xbrli:shares iso4217:GBP