REGISTERED NUMBER: 10983766 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Agile Medical Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

C Glass

Mrs A Glass

C J Glass

REGISTERED OFFICE:

Estate Road 2

South Humberside Industrial Estate

Grimsby

N E Lincolnshire

DN31 2TG

REGISTERED NUMBER:

10983766 (England and Wales)

FIXED ASSETS

Intangible assets

4

750,000

800,000

Tangible assets

5

214,946

257,080

964,946

1,057,080

CURRENT ASSETS

Stocks

472,997

516,539

Debtors

6

2,032,566

1,971,968

Cash at bank and in hand

144,890

110,666

2,650,453

2,599,173

CREDITORS

Amounts falling due within one year

7

336,245

307,594

NET CURRENT ASSETS

2,314,208

2,291,579

TOTAL ASSETS LESS CURRENT LIABILITIES

3,279,154

3,348,659

CREDITORS

Amounts falling due after more than one year

8

(27,835

)

-

PROVISIONS FOR LIABILITIES

(35,912

)

(49,522

)

NET ASSETS

3,215,407

3,299,137

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

3,215,307

3,299,037

SHAREHOLDERS' FUNDS

3,215,407

3,299,137

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 25 September 2025 and were signed on its behalf by:

C Glass - Director

1.	STATUTORY INFORMATION

Agile Medical 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

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

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Intellectual Property are being amortised evenly over their estimated useful life of twenty years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

20% on cost

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

20% on reducing balance

Computer equipment

-

20% on cost

Stocks

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

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 11 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2024

and 31 December 2024

1,000,000

AMORTISATION

At 1 January 2024

200,000

Charge for year

50,000

At 31 December 2024

250,000

NET BOOK VALUE

At 31 December 2024

750,000

At 31 December 2023

800,000

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 January 2024

36,223

152,985

17,745

Additions

-

-

-

Disposals

-

-

-

At 31 December 2024

36,223

152,985

17,745

DEPRECIATION

At 1 January 2024

21,080

45,159

3,564

Charge for year

7,245

30,316

3,549

Eliminated on disposal

-

-

-

At 31 December 2024

28,325

75,475

7,113

NET BOOK VALUE

At 31 December 2024

7,898

77,510

10,632

At 31 December 2023

15,143

107,826

14,181

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2024

151,531

20,569

379,053

Additions

75,849

5,277

81,126

Disposals

(90,051

)

-

(90,051

)

At 31 December 2024

137,329

25,846

370,128

DEPRECIATION

At 1 January 2024

42,697

9,473

121,973

Charge for year

31,452

4,516

77,078

Eliminated on disposal

(43,869

)

-

(43,869

)

At 31 December 2024

30,280

13,989

155,182

NET BOOK VALUE

At 31 December 2024

107,049

11,857

214,946

At 31 December 2023

108,834

11,096

257,080

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 January 2024

28,171

Additions

41,550

Disposals

(25,761

)

At 31 December 2024

43,960

DEPRECIATION

At 1 January 2024

11,139

Charge for year

11,376

Eliminated on disposal

(14,566

)

At 31 December 2024

7,949

NET BOOK VALUE

At 31 December 2024

36,011

At 31 December 2023

17,032

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

179,183

235,203

Other debtors

1,853,383

1,736,765

2,032,566

1,971,968

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Hire purchase contracts

5,810

-

Trade creditors

161,806

66,047

Taxation and social security

108,790

87,675

Other creditors

59,839

153,872

336,245

307,594

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Hire purchase contracts

27,835

-

9.	DIRECTORS' AND SHAREHOLDERS' ADVANCES AND CREDITS

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24

31.12.23

£

£

C Glass and Mrs A Glass

Balance outstanding at start of year

(1,000

)

796,385

Amounts advanced

15,145

155,001

Amounts repaid

-

(952,386

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

14,145

(1,000

)

C J Glass

Balance outstanding at start of year

-

-

Amounts advanced

-

1,873

Amounts repaid

-

(1,873

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-