Morgan Price International Healthcare Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 03771138

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		34,148		40,174
Tangible Assets	5		59,749		84,294
Investments	6		100,000		100,000

			193,897		224,468
CURRENT ASSETS
Debtors	7	4,922,213		4,820,642
Cash at bank and in hand		614,742		293,836

		5,536,955		5,114,478
Creditors: Amounts Falling Due Within One Year	8	(3,392,621 )		(3,267,332 )

NET CURRENT ASSETS (LIABILITIES)			2,144,334		1,847,146

TOTAL ASSETS LESS CURRENT LIABILITIES			2,338,231		2,071,614

Creditors: Amounts Falling Due After More Than One Year	9		-		(85,380 )

PROVISIONS FOR LIABILITIES
Provisions For Charges			(1,434,029 )		(916,652 )
Deferred Taxation			(57,343 )		(57,343 )

NET ASSETS			846,859		1,012,239

CAPITAL AND RESERVES
Called up share capital	10		750		750
Share premium account			4,960		4,960
Capital redemption reserve			5,040		5,040
Profit and Loss Account			836,109		1,001,489

SHAREHOLDERS' FUNDS			846,859		1,012,239

Page 1

Page 2

Morgan Price International Healthcare Limited

Balance Sheet (continued)

As At 31 December 2024

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

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Jonathan Carpenter

Director

04/09/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Morgan Price International Healthcare Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03771138 . The registered office is 2 Penfold Drive, Gateway 11, Wymondham, Norfolk, NR18 0WZ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets are .... It is amortised to the profit and loss account over its estimated economic life of .... years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25% reducing balance
Fixtures & Fittings	25% reducing balance
Computer Equipment	25% reducing balance

2.5. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 20 (2023: 28)

4. Intangible Assets

	Other
	£
Cost
As at 1 January 2024	133,893

As at 31 December 2024	133,893

...CONTINUED

Page 3

Page 4

Morgan Price International Healthcare Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

Amortisation
As at 1 January 2024	93,719
Provided during the period	6,026

As at 31 December 2024	99,745

Net Book Value
As at 31 December 2024	34,148

As at 1 January 2024	40,174

5. Tangible Assets

	Plant & Machinery
	£
Cost
As at 1 January 2024	407,802
Additions	1,364

As at 31 December 2024	409,166

Depreciation
As at 1 January 2024	323,508
Provided during the period	25,909

As at 31 December 2024	349,417

Net Book Value
As at 31 December 2024	59,749

As at 1 January 2024	84,294

6. Investments

	Listed
	£
Cost
As at 1 January 2024	100,000

As at 31 December 2024	100,000

Provision
As at 1 January 2024	-

As at 31 December 2024	-

Net Book Value
As at 31 December 2024	100,000

As at 1 January 2024	100,000

Page 4

Page 5

Morgan Price International Healthcare Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

7. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	456,878	640,750
Other debtors	2,011,691	1,996,693

	2,468,569	2,637,443
Due after more than one year
Amounts owed by group undertakings	2,453,644	2,183,199

	4,922,213	4,820,642

8. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	770,369	452,255
Bank loans and overdrafts	85,380	93,034
Other loans	5,002	13,254
Amounts owed to group undertakings	1,753,620	1,821,180
Other creditors	697,802	817,640
Taxation and social security	80,448	69,969

	3,392,621	3,267,332

9. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	-	85,380

10. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	750	750

11. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 January 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 December 2024
	£	£	£	£	£
Mr Jonathan Carpenter	1,118,690	56,054	-	-	1,174,744

The above loan is unsecured, interest free and repayable on demand.

Page 5