Company Registration No. 06012594 (England and Wales)
Funky Medical Accessories Limited
Unaudited accounts
for the year ended 31 December 2024
Funky Medical Accessories Limited
Statement of financial position
as at 31 December 2024
Intangible assets
5,833
7,833
Tangible assets
14,172
78,842
Cash at bank and in hand
4,963
26,651
Creditors: amounts falling due within one year
(54,959)
(142,306)
Net current assets/(liabilities)
36,814
(18,525)
Total assets less current liabilities
56,819
68,150
Creditors: amounts falling due after more than one year
(28,488)
(90,068)
Net assets/(liabilities)
28,331
(21,918)
Called up share capital
101
101
Profit and loss account
28,230
(22,019)
Shareholders' funds
28,331
(21,918)
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 members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by
L J Mudie
Director
Company Registration No. 06012594
Funky Medical Accessories Limited
Notes to the Accounts
for the year ended 31 December 2024
Funky Medical Accessories Limited is a private company, limited by shares, registered in England and Wales, registration number 06012594. The registered office is 34 Clarence Street, Southend-On-Sea, Essex, SS1 1BD, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
50 years straight line
Plant & machinery
20% reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Funky Medical Accessories Limited
Notes to the Accounts
for the year ended 31 December 2024
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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Goodwill
At 31 December 2024
20,000
At 31 December 2024
14,167
5
Tangible fixed assets
Land & buildings
Plant & machinery
Total
Cost or valuation
At cost
At cost
At 1 January 2024
84,010
77,399
161,409
Disposals
(84,010)
-
(84,010)
At 31 December 2024
-
78,439
78,439
At 1 January 2024
21,842
60,725
82,567
Charge for the year
-
3,542
3,542
On disposals
(21,842)
-
(21,842)
At 31 December 2024
-
64,267
64,267
At 31 December 2024
-
14,172
14,172
At 31 December 2023
62,168
16,674
78,842
Funky Medical Accessories Limited
Notes to the Accounts
for the year ended 31 December 2024
Amounts falling due within one year
Trade debtors
1,254
12,640
Other debtors
10,537
4,130
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Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
9,822
27,313
Trade creditors
1,542
4,699
Other creditors
7,844
5,284
Loans from directors
35,751
96,922
8
Creditors: amounts falling due after more than one year
2024
2023
The company settled a mortgage in full during the year £0 (2023 - £58,099). This mortgage was secured by way of a fixed charge over the property to which they relate.
9
Average number of employees
During the year the average number of employees was 2 (2023: 4).