REGISTERED NUMBER: 05416181 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

MEDILOGIC UK LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R Goff

S W Burgess

A Khan

REGISTERED OFFICE:

13 Hursley Road

Chandler's Ford

Eastleigh

Hampshire

SO53 2FW

REGISTERED NUMBER:

05416181 (England and Wales)

FIXED ASSETS

Intangible assets

4

75,130

77,025

Tangible assets

5

70,826

97,380

Investments

6

1

1

145,957

174,406

CURRENT ASSETS

Stocks

44,241

36,064

Debtors

7

806,478

636,815

Cash at bank and in hand

30,175

137,718

880,894

810,597

CREDITORS

Amounts falling due within one year

8

470,571

423,472

NET CURRENT ASSETS

410,323

387,125

TOTAL ASSETS LESS CURRENT LIABILITIES

556,280

561,531

CREDITORS

Amounts falling due after more than one year

9

-

(33,333

)

PROVISIONS FOR LIABILITIES

(15,590

)

(22,013

)

NET ASSETS

540,690

506,185

CAPITAL AND RESERVES

Called up share capital

200,008

200,008

Retained earnings

340,682

306,177

SHAREHOLDERS' FUNDS

540,690

506,185

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 29th September 2025 and were signed on its behalf by:

S W Burgess - Director

1.	STATUTORY INFORMATION

Medilogic UK Limited 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 represents income derived from the company's principal activity. Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:

- the Company has transferred the significant risks and rewards of ownership to the buyer;

- the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

- the amount of revenue can be measured reliably;

- it is probable that the Company will receive the consideration due under the transaction; and

- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of turnover can be measured reliably;

- it is probable that the Company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measured reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably.

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.

Development costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets

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

Plant and machinery etc

-

33% on cost and 20% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at 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.

Research and development

Expenditure on research is written off in the year in which it is incurred. Development expenditure is capitalised and amortised over its useful life.

Foreign currencies

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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company makes contributions to the personal pension schemes of individual employees. Such contributions are charged to the profit and loss account in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1st January 2024

100,371

Additions

22,458

At 31st December 2024

122,829

AMORTISATION

At 1st January 2024

23,346

Charge for year

24,353

At 31st December 2024

47,699

NET BOOK VALUE

At 31st December 2024

75,130

At 31st December 2023

77,025

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st January 2024

452,037

Additions

23,593

At 31st December 2024

475,630

DEPRECIATION

At 1st January 2024

354,657

Charge for year

50,147

At 31st December 2024

404,804

NET BOOK VALUE

At 31st December 2024

70,826

At 31st December 2023

97,380

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1st January 2024

and 31st December 2024

1

NET BOOK VALUE

At 31st December 2024

1

At 31st December 2023

1

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

84,587

55,358

Amounts owed by group undertakings

494,081

500,202

Amounts owed by associates

-

2,477

Other debtors

227,810

78,778

806,478

636,815

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

33,333

40,000

Trade creditors

10,835

25,027

Amounts owed to associates

6,326

-

Taxation and social security

43,051

39,558

Other creditors

377,026

318,887

470,571

423,472

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

-

33,333

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Bank loans

33,333

73,333

11.	OTHER FINANCIAL COMMITMENTS

There is a fixed and floating charge over the assets of the company for security of the bank overdraft made to the parent company, Borne Investments Limited.

12.	ULTIMATE CONTROLLING PARTY

The controlling party is Borne Investments Limited.

The ultimate controlling party is S W Burgess who has 100% of the shareholding in the ultimate parent company Borne Investments Limited, a company incorporated in England and Wales.