Company registration number 08097913 (England and Wales)
BLUEKIT MEDICAL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
BLUEKIT MEDICAL LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
BLUEKIT MEDICAL LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 1 -
31 December 2024
30 June 2024
Notes
£
£
£
£
Fixed assets
Tangible assets
5
1,221
1,667
Current assets
Stocks
170,011
88,660
Debtors
6
82,173
71,980
Cash at bank and in hand
828
796
253,012
161,436
Creditors: amounts falling due within one year
7
(218,191)
(99,476)
Net current assets
34,821
61,960
Total assets less current liabilities
36,042
63,627
Creditors: amounts falling due after more than one year
8
(2,957)
(6,828)
Net assets
33,085
56,799
Capital and reserves
Share capital
9
100
100
Profit and loss reserves
32,985
56,699
Total equity
33,085
56,799

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

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

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.
The members have not required the Company to obtain an audit of its financial statements for the period 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 profit and loss account has not been delivered to the Registrar of Companies.

BLUEKIT MEDICAL LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
31 December 2024
- 2 -
The financial statements were approved by the Board of Directors and authorised for issue on 10 September 2025 and are signed on its behalf by:
R N Porter
Director
Company registration No. 08097913

The accompanying notes on pages 3 to 8 form an integral part of the financial statements.

BLUEKIT MEDICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 3 -
1
Company information

Bluekit Medical Limited is a private company limited by shares incorporated in England and Wales. The registered office is Talbot House, Unit 11, Perrywood Business Park, Honeycrock Lane, Redhill, RH1 5JQ.

2
Significant accounting policies
2.1
Basis of preparation of financial statements

These financial statements have been prepared in accordance with Section 1A of 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 principle accounting policies adopted are set out below.

FRS 102 allows certain disclosure exemptions for qualifying entities, subject to certain conditions, which have been complied with, including notification of, and no objection to, the use of exemptions by the Company's shareholders.

The Company has taken advantage of the following exemptions:

- from preparing a statement of cash flows, required under Section 7 of FRS 102 and para 3.17(d), on the basis that it is a small company;

- from disclosing the Company's key management personnel compensation as required by FRS 102 para 33.7; and

- from disclosing related party transactions that are wholly owned within the same group.

2.2
Going concern

At the date of signing these financial statements, the true Directors believe that the Compant has adequate resources to continue in operational existence for the forseeable future, being at least 12 months from the approval of the financial statements. Thus, they continue to adopt the going concern basis of accounting in preparing the financial statements.

2.3
Turnover

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

Turnover from the sale of goods is recognised at the point the goods are dispatched to the customer, which is when the significant risks and rewards of ownership of the goods have passed to the buyer, 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.

2.4
Foreign exchange

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the profit or loss account.

BLUEKIT MEDICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
2
Significant accounting policies
(Continued)
- 4 -
2.5
Employee benefits

A defined contribution plan is a post-employment benefit plan under which the Company pays fixed contributions into a separate entity and will have no legal or constructive obligation to pay further amounts. Obligations for contributions to defined contribution pension plans are recognised as an expense in the profit and loss account in the periods during which services are rendered by employees.

2.6
Taxation

The tax expense represents the sum of the current tax.

Current tax

The current tax 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 pr substantively enacted by the reporting end date.

2.7
Tangible fixed assets

Tangible fixed assets are measured at cost less accumulative depreciation and any accumulated impairment losses.

Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

Plant and machinery
4 years
Fixtures and fittings
4 years
Computers
3 years

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.

2.8
Impairment of fixed assets

At each reporting period end date, the C ompany reviews the carrying amounts of its tangible assets to determine whether there is an indication that the asset (or asset’s cash generating unit) may be impaired. If there is such an indication the recoverable amount of the asset (or asset’s cash generating unit) is compared to the carrying amount of the asset (or asset’s cash generating unit).

The recoverable amount of the asset (or asset’s cash generating unit) is the higher of the fair value less costs to sell and value in use. Value in use is defined as the present value of the future cash flows before interest and tax obtainable as a result of the asset’s (or asset’s cash generating unit) continued use. These cash flows are discounted using a pre‐tax discount rate that represents the current market risk‐ free rate and the risks inherent in the asset.

If the recoverable amount of the asset (or asset’s cash generating unit) is estimated to be lower than the carrying amount, the carrying amount is reduced to its recoverable amount. An impairment loss is recognised in the p rofit and l oss a ccount, unless the asset has been revalued when the amount is recognised in other comprehensive income to the extent of any previously recognised revaluation. Thereafter any excess is recognised in the p rofit and l oss a ccount.

If an impairment loss is subsequently reversed, the carrying amount of the asset (or asset’s cash generating unit) is increased to the revised estimate of its recoverable amount, but only to the extent that the revised carrying amount does not exceed the carrying amount that would have been determined (net of depreciation or amortisation) had no impairment loss been recognised in prior periods. A reversal of an impairment loss is recognised in the p rofit and l oss a ccount.

BLUEKIT MEDICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
2
Significant accounting policies
(Continued)
- 5 -
2.9
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. 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 the p rofit or loss account. Reversals of impairment losses are also recognised in the p rofit or l oss account.

2.10
Cash and cash equivalents

Cash and cash equivalents 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.

2.11
Financial instruments

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 on 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 this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

The Company has chosen to adopt the sections 11 and 12 of FRS 102 in respect of financial instruments.

2.12
Debtors

Short term debtors are measured at transaction price, less any impairment. Loans and other financial assets are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.13
Creditors

Short term trade creditors are measured at the transaction price. Loans and other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.14
Equity instruments

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

2.15

Related party transactions

The Company discloses transactions with related parties which are not wholly owned within the same group. It does not disclose transactions with members of the same group that are wholly owned.

2.16

Distributions to equity shareholders

Dividends and other distributions to the Company's shareholders are recognised as a liability in the financial statements in the period in which the dividends and other distributions are approved by the shareholders. These amounts are recognised in the statement of changes in equity.

BLUEKIT MEDICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 6 -
3
Judgements and key sources of estimation uncertainty

Judgements and estimates are continually evaluated and are based on historical experience and other factors.

The Company has not made any critical judgements or estimates in applying the entity's accounting policies.

4
Employees
31 December
30 June
2024
2024
Number
Number
Average number of persons employed by the Company
4
4
5
Tangible fixed assets
Plant and machinery
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 July 2024
700
778
2,683
4,161
Additions
-
0
43
25
68
At 31 December 2024
700
821
2,708
4,229
Depreciation and impairment
At 1 July 2024
248
362
1,884
2,494
Depreciation charged in the period
75
99
340
514
At 31 December 2024
323
461
2,224
3,008
Carrying amount
At 31 December 2024
377
360
484
1,221
At 30 June 2024
452
416
799
1,667
6
Debtors
31 December
30 June
2024
2024
Amounts falling due within one year:
£
£
Trade debtors
81,150
71,980
Other debtors
1,023
-
0
82,173
71,980

Trade debtors are stated after provision for impairment of £1,159 (30 June 2024: £1,159).

BLUEKIT MEDICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 7 -
7
Creditors: amounts falling due within one year
31 December
30 June
2024
2024
£
£
Bank loans and overdrafts
25,887
12,581
Trade creditors
7,843
6,594
Amounts owed to group undertakings
124,534
-
0
Taxation and social security
35,160
31,826
Other creditors
24,767
48,475
218,191
99,476

Amounts owed to group undertakings are unsecured, interest free and are repayable on demand.

8
Creditors: amounts falling due after more than one year
31 December
30 June
2024
2024
£
£
Bank loans
2,957
6,828

The C ompany received a Bounce Back Loan on 29 May 2020 of £32,500 repayable over 6 years with an APR of 2.5% per annum. The first 12 months interest was met by the UK Government and repayments started on 29 June 2021.

9
Called up share capital
31 December
30 June
2024
2024
Ordinary share capital
£
£
Issued and fully paid
100 (30 June 2024: 100) Ordinary shares of £1 each
100
100
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:

31 December
30 June
2024
2024
£
£
Within one year
2,709
2,675
BLUEKIT MEDICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 8 -
11
Related party transactions

At the period end, the Company had a balance of £nil (30 June 2024: £nil) owed to R Pathan, a former Director of the Company. During the prior year, the Company wrote off £16,527 in relation to a loan owed to R Pathan. The loan was interest free and unsecured with no fixed repayment terms.

During the period the Company entered into transactions, in the ordinary course of business, with related parties. The Company has taken advantage of the exemption under paragraph 33.1A of FRS 102 not to disclose transactions with fellow subsidiaries under common ownership. There are no other related party transactions noted in the period.

12
Ultimate controlling party

On 14 August 2024, the Company was acquired by Kinetik Technology Group Limited, which became the ultimate controlling party and immediate parent. Copies of Kinetik Technology Group Limited's financial statements can be obtained from Company Secretary, Talbot House, Unit 11, Perrywood Business Park, Honeycrock Lane, Redhill, RH1 5JQ.

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