REGISTERED NUMBER: 04680615 (England and Wales)

MAK-SYSTEM MEDISOFT LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Statement of Financial Position

1

Notes to the Financial Statements

2

CURRENT ASSETS

Debtors

5

175,117

297,943

Cash at bank

31,116

4,009

206,233

301,952

CREDITORS

Amounts falling due within one year

6

20,709

122,915

NET CURRENT ASSETS

185,524

179,037

TOTAL ASSETS LESS CURRENT LIABILITIES

185,524

179,037

CAPITAL AND RESERVES

Called up share capital

1

1

Profit and loss account

185,523

179,036

185,524

179,037

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 director and authorised for issue on 29 September 2025 and were signed by:

F Jaubert - Director

1.	STATUTORY INFORMATION

Mak-System Medisoft Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

04680615

Registered office:

Wilberforce House

Station Road

London

NW4 4QE

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis as it is the expectation of the director that the company will be able to meet its liabilities as they fall due over a period of at least 12 months.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102 Section 1A.

As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102 Section 1A:

(a) Disclosures in respect of each class of share capital have not been presented.

(b) No cash flow statement has been presented for the company.

(c) Disclosures in respect of financial instruments have not been presented.

(d) Disclosures in respect of share-based payments have not been presented.

(e) No disclosure has been given for the aggregate remuneration of key management personnel.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reports. The estimates and judgments are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. In the director's opinion there are no significant judgements or key sources of estimation uncertainty.

Revenue recognition

Turnover comprises amounts earned from the delivery, subsequent maintenance and subscription of the Group's proprietary software:

1) Delivery turnover is recognised following a "percentage of completion" methodology aligned to operational implementation milestones. At the exception of "Time & Materials" contract, for which delivery turnover is recognised when the services are rendered as per the contractual performance obligations:

2) Maintenance turnover is recognised on a straight-line basis over the term of the contractual maintenance period.

3) Subscription turnover is recognised on a monthly basis based on the level of usage by the customer in the month, subject to contractual minimums. Turnover is only recognised where the amount can be measured reliably, and where an inflow of future economic benefits is probable. Where amounts invoiced to customers do not align with turnover recognised, any differences are recorded in accrued or deferred income. Regarding MAK.Care contracts; the Group provides to the customer two main services: . Delivery . Platform as a service, ie monthly software, service and support These services consist of two separate performance obligations in the contract and transaction price is allocated on the followings basis : The allocation of the transaction price to the performance obligations in the contract is non-complex for the Group. There is a fixed unit price for usage of Group's services in the month, subject to contractual minimum for the post go live phase and the transaction price for the installation/set up phase based on the project costs for installation phase based on the overall margin on the contract. Revenue during the implementation phase is recognised based on reference to the stage of completion of the contract activity at the end of the reporting period (often referred to as the percentage of completion method). Reliable estimation of the outcome requires reliable estimates of the stage of completion, future costs and collectability of billings.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Taxation

Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transactions. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

4.	EMPLOYEES AND DIRECTORS

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

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

6,944

113,837

Amounts owed by group undertakings

167,605

183,497

Other debtors

568

609

175,117

297,943

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Taxation and social security

3,244

-

Other creditors

17,465

122,915

20,709

122,915

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

The Report of the Auditors was unqualified.

John Carroll FCCA CTA (Senior Statutory Auditor)

for and on behalf of Keelings Limited

8.	CONSOLIDATED FINANCIAL STATEMENTS

The immediate parent company and smallest group to consolidate these financial statements is MAK-System Group Limited, which is incorporated in England & Wales and whose registered office is 1 Bartholomew Lane, London, United Kingdom, EC2N 2AX.