| Dimedic Limited |
| Notes to the Accounts |
| for the year ended 31 December 2024 |
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| 1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Exemption from consolidation |
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The company has prepared separate accounts and taken advantage of the exemption set out in section 401 of the Companies Act not to prepare consolidated group accounts. The parent undertaking which draws up group accounts is Pelion SA , a company incorporated in Poland. The group accounts of Pelion SA are available to the public and can be obtained as set out in note 12. |
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Going concern |
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The entity continues to receive parent company support during its developmental phase. This has been further evidenced after the year end by the issue of further ordinary share capital for a consideration of £631,701 in respect of shares issued on 12th May 2025 and £455,280 in respect of shares issued on 19th August 2025.The directors have a detailed plan to 2030 which indicates that following the continued investment during the development phase, the company will be profitable. The company is currently in the development phase and has just recorded losses of £1,562,277(2023: £1,565,633).On the basis of the continual support and the anticipated future profitability, the directors believe that the financial statements should continue to be prepared on the going concern basis. |
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Turnover |
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The principal activity of the company entails the provision of online telemedicine. Income is recognised on the completion of the online consultation.With effect from April 2024,the company has ceased to offer medical consultations with other group companies now providing this service.The company is now focussed on the development and upgrade of its e-commerce trading platform and software which this will be made available to other group companies on a subscription basis.Turnover from April 2024 onwards will comprise income receivable for the use of this platform and the recharge of related marketing costs to other group companies. |
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Intangible fixed assets |
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Intangible fixed assets are measured at cost less accumulated amortisation and any accumulated impairment losses. Software and related trading platforms are generally amortised over their anticiapted useful lives of 5 years. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Plant and machinery |
over 5 years |
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Fixtures, fittings, tools and equipment |
over 5 years |
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Investments |
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Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
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Provisions |
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Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
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Foreign currency translation |
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Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
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Leased assets |
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A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term. |
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Reduced disclosure |
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This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from disclosing Related Party Transactions as the financial statements of the company are consolidated in the financial statements of the parent company as disclosed in note 11. |
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Research and development |
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Expenditure on research is written off against profits in the year in which it is incurred. Development expenditure is capitalised and amortised over its useful life. |
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate. |
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| 2 |
Audit information |
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The audit report is unqualified. |
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Senior statutory auditor: |
Michael Anderson BA BFP FCA |
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Firm: |
Bell Anderson Limited |
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Date of audit report: |
30 September 2025 |
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| 3 |
Employees |
2024 |
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2023 |
| Number |
Number |
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Average number of persons employed by the company |
6 |
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11 |
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| 4 |
Intangible fixed assets |
£ |
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Software: |
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Cost |
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At 1 January 2024 |
657,695 |
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Additions |
369,408 |
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Disposals |
(647,898) |
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At 31 December 2024 |
379,205 |
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Amortisation |
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At 1 January 2024 |
210,821 |
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Provided during the year |
437,077 |
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On disposals |
(647,898) |
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At 31 December 2024 |
- |
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Net book value |
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At 31 December 2024 |
379,205 |
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At 31 December 2023 |
446,874 |
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The company's development of software and internet trading platforms is capitalised and is being written off over its estimated economic life of 5 years. |
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| 5 |
Tangible fixed assets |
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Plant and machinery etc |
| £ |
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Cost |
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At 1 January 2024 |
22,457 |
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Additions |
8,864 |
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At 31 December 2024 |
31,321 |
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Depreciation |
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At 1 January 2024 |
12,764 |
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Charge for the year |
1,724 |
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At 31 December 2024 |
14,488 |
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Net book value |
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At 31 December 2024 |
16,833 |
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At 31 December 2023 |
9,693 |
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| 6 |
Investments |
| Investments in |
| subsidiary |
| undertakings |
| £ |
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Cost |
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At 1 January 2024 |
373,032 |
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At 31 December 2024 |
373,032 |
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| 7 |
Debtors |
2024 |
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2023 |
| £ |
£ |
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Trade debtors |
12,727 |
|
40,295 |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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2,160,095 |
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- |
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2,172,822 |
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40,295 |
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Amounts due after more than one year included above |
1,903,161 |
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- |
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| 8 |
Creditors: amounts falling due within one year |
2024 |
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2023 |
| £ |
£ |
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Trade creditors |
113,261 |
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93,652 |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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110,160 |
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916,289 |
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Taxation and social security costs |
2,628 |
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30,944 |
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Other creditors |
16,181 |
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69,413 |
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242,230 |
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1,110,298 |
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| 9 |
Events after the reporting date |
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Following the year end, two allotments of shares took place as follows:
1. On 12th May 2025, an allotment of 111 ordinary shares of £1 each was made for a consideration of £631,701 to Tt Pharma Sp. Z.O.O.
2. On 19th August 2025, an allotment of 80 ordinary shares of £1 each was made for a consideration of £455,280 to Tt Pharma Sp. Z.O.O. |
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| 10 |
Other financial commitments |
2024 |
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2023 |
| £ |
£ |
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Total future minimum payments under non-cancellable operating leases |
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2,218 |
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9,333 |
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| 11 |
Controlling party |
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The immediate parent company is Tt Pharma Sp. Z.O.O.The ultimate parent company is KIPF Sp.Zo.o.Group accounts are prepared by Pelion SA, the parent company of Tt Pharma Sp. Z.O.O.which is located at ul.Zbaszynska 3, 91-342, Lodz, Poland. |
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| 12 |
Other information |
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Dimedic Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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372 West Road |
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Newcastle upon Tyne |
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Tyne & Wear |
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NE4 9JY |