Company registration number 04311244 (England and Wales)
MEDATECH UK LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
MEDATECH UK LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
MEDATECH UK LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
1
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
24,734
27,836
Investments
4
-
0
1
24,734
27,837
Current assets
Debtors
5
1,027,066
1,157,783
Cash at bank and in hand
892,899
1,005,052
1,919,965
2,162,835
Creditors: amounts falling due within one year
6
(1,413,573)
(1,356,057)
Net current assets
506,392
806,778
Total assets less current liabilities
531,126
834,615
Provisions for liabilities
7
(25,533)
(22,112)
Net assets
505,593
812,503
Capital and reserves
Called up share capital
8
60
75
Capital redemption reserve
15
-
0
Other reserves
2,603
-
0
Profit and loss reserves
502,915
812,428
Total equity
505,593
812,503
MEDATECH UK LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
31 December 2024
2

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

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

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

The financial statements were approved by the board of directors and authorised for issue on 25 July 2025 and are signed on its behalf by:
M Gabay
Director
Company registration number 04311244 (England and Wales)
MEDATECH UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
3
1
Accounting policies
Company information

Medatech UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is Anchor House, School Lane, Chandler's Ford, Eastleigh, Hampshire, SO53 4DY.

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 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT.

Revenue is recognised on initial licence fees in full on receipt of payment and a signed software licence and the installation of the software or the issue of authorisation codes to activate the software. Software support contracts invoiced in advance for fixed periods are taken to income in monthly instalments over the relevant contract period. Other sales income is recognised based on work completed or services provided during the year.

1.3
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 etc
33% on cost and 25% on cost

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.

MEDATECH UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies (Continued)
4
1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.5
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.

1.6
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.

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.

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.

1.7
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.

MEDATECH UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies (Continued)
5
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.

1.8
Provisions

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision i s measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

1.9
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.

1.10
Retirement benefits

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

1.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

MEDATECH UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
6
2
Employees

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

2024
2023
Number
Number
Total
25
24
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024
101,334
Additions
18,994
Disposals
(24,161)
At 31 December 2024
96,167
Depreciation and impairment
At 1 January 2024
73,498
Depreciation charged in the year
22,096
Eliminated in respect of disposals
(24,161)
At 31 December 2024
71,433
Carrying amount
At 31 December 2024
24,734
At 31 December 2023
27,836
4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
-
0
1
MEDATECH UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
4
Fixed asset investments (Continued)
7
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 January 2024
1
Disposals
(1)
At 31 December 2024
-
Carrying amount
At 31 December 2024
-
At 31 December 2023
1
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
817,721
910,737
Amounts owed by group undertakings
-
0
72,729
Other debtors
209,345
174,317
1,027,066
1,157,783
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
181,279
142,962
Taxation and social security
261,557
283,672
Other creditors
970,737
929,423
1,413,573
1,356,057
MEDATECH UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
8
7
Provisions for liabilities
2024
2023
£
£
Property dilapidations
20,000
15,153
Deferred tax liabilities
5,533
6,959
25,533
22,112
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
60
75
60
75

During the year the company repurchased 15 ordinary shares of £1 each. A Capital redemption reserve of £15 has been created representing the nominal value of the shares repurchased.

9
Other reserve
2024
2023
£
£
At the beginning of the year
-
-
Other movements
2,603
-
At the end of the year
2,603
-
10
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
364,715
363,599
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