REGISTERED NUMBER: 06509477 (England and Wales)

SCINOMED LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr A P Lane

Mr M Hauck

Mr J Simkins

REGISTERED OFFICE:

Windsor House

Cornwall Road

Harrogate

HG1 2PW

REGISTERED NUMBER:

06509477 (England and Wales)

AUDITORS:

DSC Accountants Ltd

Chartered Accountants

Statutory Auditors

Tattersall House

East Parade

Harrogate

North Yorkshire

HG1 5LT

FIXED ASSETS

Intangible assets

4

543,570

610,557

Tangible assets

5

456,000

510,905

Investments

6

1,965,656

1,965,656

2,965,226

3,087,118

CURRENT ASSETS

Stocks

1,073,055

447,544

Debtors

7

9,121,602

9,951,672

Prepayments and accrued income

683,122

450,556

Cash at bank

101,764

673,546

10,979,543

11,523,318

CREDITORS

Amounts falling due within one year

8

460,259

1,023,212

NET CURRENT ASSETS

10,519,284

10,500,106

TOTAL ASSETS LESS CURRENT LIABILITIES

13,484,510

13,587,224

CREDITORS

Amounts falling due after more than one year

9

(24,323,373

)

(21,499,269

)

ACCRUALS AND DEFERRED INCOME

(120,249

)

(106,741

)

NET LIABILITIES

(10,959,112

)

(8,018,786

)

CAPITAL AND RESERVES

Called up share capital

10

800,000

800,000

Share premium

5,715,000

5,715,000

Retained earnings

(17,474,112

)

(14,533,786

)

SHAREHOLDERS' FUNDS

(10,959,112

)

(8,018,786

)

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 24 September 2025 and were signed on its behalf by:

Mr A P Lane - Director

1.	STATUTORY INFORMATION

Scinomed 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements

The financial statements contain information about Scinomed Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Going concern

At the balance sheet date, the company had net liabilities of £10,959,112.

The parent undertaking and ultimate parent undertaking have confirmed that they will provide further financial support to the company as required to enable it to meet its liabilities as and when they fall due for at least twelve months from the date of approval of the financial statements of the company. Consequently, the financial statements have been prepared on a going concern basis.

Turnover

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

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

Research & development costs

Where research and development costs are capitalised, amortisation is provided at the following annual rate in order to write off each asset over its estimated useful life.

Research and development costs - between 10% and 20% on cost

Tangible fixed assets

Tangible fixed assets are initially measured at cost. After initial recognition tangible fixed assets are measured at cost less accumulated depreciation and any impairment losses.

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

Improvements to property - 10% on cost

Plant and machinery - 20% on cost

Fixtures and fittings - 10% on cost

Office Equipment - 25% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are initially recognised at cost. After initial recognition, investments in subsidiary undertakings are measured at cost less any accumulated impairment losses.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is derived as the total free on board cost including freight charges.

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.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Cash at bank and in hand

Cash at bank and in hand represents cash and short-term highly liquid funds.

Creditors

Creditors are recognised when the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any discounts due.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 30 December 2023

1,217,445

Additions

57,294

At 29 December 2024

1,274,739

AMORTISATION

At 30 December 2023

606,888

Charge for year

124,281

At 29 December 2024

731,169

NET BOOK VALUE

At 29 December 2024

543,570

At 29 December 2023

610,557

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Office

property

machinery

fittings

Equipment

Totals

£

£

£

£

£

COST

At 30 December 2023

1,579

634,141

18,934

37,286

691,940

Additions

-

54,283

-

2,575

56,858

Disposals

-

(40,120

)

-

-

(40,120

)

At 29 December 2024

1,579

648,304

18,934

39,861

708,678

DEPRECIATION

At 30 December 2023

1,579

136,881

10,796

31,779

181,035

Charge for year

-

97,220

1,596

2,837

101,653

Eliminated on disposal

-

(30,010

)

-

-

(30,010

)

At 29 December 2024

1,579

204,091

12,392

34,616

252,678

NET BOOK VALUE

At 29 December 2024

-

444,213

6,542

5,245

456,000

At 29 December 2023

-

497,260

8,138

5,507

510,905

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 30 December 2023

and 29 December 2024

1,965,656

NET BOOK VALUE

At 29 December 2024

1,965,656

At 29 December 2023

1,965,656

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

29,296

35,360

Amounts owed by group undertakings

8,726,251

8,889,596

Other debtors

366,055

1,026,716

9,121,602

9,951,672

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

331,574

116,483

Taxation and social security

18,080

734,748

Other creditors

110,605

171,981

460,259

1,023,212

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Amounts owed to group undertakings

24,323,373

21,499,269

The loans are unsecured with no set repayment date. A market rate of interest is payable on the loans.

10.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2024

2023

value:

£

£

800,000

Share capital 1

£1

800,000

800,000

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Graham French (Senior Statutory Auditor)

for and on behalf of DSC Accountants Ltd

12.	ULTIMATE CONTROLLING PARTY

The controlling party is International Investments II Limited, a company incorporated in Hong Kong.