ACCOUNTT - Final Accounts preparation

Company registration number: 12368051

	FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 DECEMBER 2023

	MYERGO LIMITED


MYERGO LIMITED REGISTERED NUMBER:12368051

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2023

		2023		2022 (unaudited)
Note		£		£


Current assets
Stocks		178,276		81,290
Debtors: amounts falling due within one year	5	269,752		75,961
Bank and cash balances		26,508		5,256
		474,536		162,507
Creditors: amounts falling due within one year	6	(507,572)		(139,352)
Net current (liabilities)/assets			(33,036)		23,155
Total assets less current liabilities			(33,036)		23,155

Net (liabilities)/assets			(33,036)		23,155

Capital and reserves
Called up share capital	7	100	1
Profit and loss account		(33,136)	23,154
		(33,036)	23,155

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 October 2025.

................................................

F L F Salaverry

Director

The notes on pages 2 to 6 form part of these financial statements.

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MYERGO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

1.	General information

Myergo 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

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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 revenue is recognised:

Sale of goods

Revenue 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.

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MYERGO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

2.3

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery

50%

on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

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MYERGO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

2.6

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

2.7

Financial instruments

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Employees

The average monthly number of employees, including directors, during the year was 3 (2022 -1).

4.	Tangible fixed assets

		Plant and machinery
		£
	Cost or valuation
	At 1 January 2023	2,047
	At 31 December 2023	2,047
	Depreciation
	At 1 January 2023	2,047
	At 31 December 2023	2,047
	Net book value
	At 31 December 2023	-
	At 31 December 2022 (unaudited)	-

Page 4


MYERGO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

Debtors

					2023	2022 (unaudited)
					£	£


Trade debtors	186,486	56,591
Other debtors	69,629	19,370
Deferred taxation	13,637	-
	269,752	75,961

6.	Creditors: Amounts falling due within one year
		2023	2022 (unaudited)
		£	£

Amounts owed to associates	209,008	-
Corporation tax	2,550	2,452
Other taxation and social security	110,014	13,604
Other creditors	8,188	-
Accruals and deferred income	177,812	123,296
	507,572	139,352

7.	Share capital
		2023	2022 (unaudited)
		£	£

Allotted, called up and fully paid

100 (2022 -1) Ordinary shares of £1.00 each	100	1

During the year the company issued 99 Ordinary £1 shares for cash at par.

8.	Controlling party

The company is a wholly owned subsidiary of Univet SRL, a company incorporated in Italy, at Via Giovanni Prati, 87, 25086 Rezzato BS, Italy.

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MYERGO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

9.	Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was qualified.

The qualification in the audit report was as follows:

Disclaimer of Opinion
We were engaged to audit the financial statements of Myergo Limited for the year ended 31st December 2023, which comprise the Statement of Financial Position, the Statement of Comprehensive Income, and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We do not express an opinion on the accompanying financial statements of the company. Because of the significance of the matters described in the basis for disclaimer of opinion section of our report, we have not been able to obtain sufficient appropriate audit evidence to provide a basis for an audit opinion on these financial statements.
Basis for Disclaimer of Opinion
We were unable to obtain sufficient appropriate audit evidence regarding inventory as at the reporting date. The entity did not conduct a year-end stocktake, and we were unable to satisfy ourselves by alternative means concerning the inventory quantities held at 31 December 2023 and 2022, which are stated in the statements of financial position at £178,276 and £81,290, respectively.
Additionally, we were unable to obtain sufficient appropriate audit evidence due to missing purchase invoices, which prevented us from verifying certain transactions and balances.
Further issues were identified during the audit. The company incorrectly claimed input VAT on certain transactions, and we were unable to determine the full extent of the misstatement or its impact on the financial statements. The cost of sales figure may be misstated due to incomplete or inaccurate records, which could have a material impacton trade creditors. In addition, we were unable to obtain sufficient appropriate audit evidence regarding trade debtors, included in the statement of financial position at £186,486. This could have an unknown impact on reported revenue and sales.
Consequently, we were unable to determine whether any adjustments might be necessary in respect of inventory, cost of sales, trade creditors, revenue, and related disclosures in the financial statements.

The audit report was signed on 14 October 2025 by James Fox ACA FCCA (Senior statutory auditor) on behalf of Menzies LLP.

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