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Registration number: 03905898

Mediply Limited
Unaudited Filleted Financial Statements
for the Year Ended 31 March 2025

Pages for filing with Registrar

Mediply Limited

Contents

Company Information | 1
Balance Sheet | 2 to 3
Notes to the Unaudited Financial Statements | 4 to 9

Mediply Limited

Company Information

Directors | Mr J P McGailey Mrs CE McGailey

Company secretary | Mr J P McGailey

Registered office | 2 The Courtyard Pennyfarthing Lane Thornton Cleveleys Blackpool Lancashire FY5 2ED

Mediply Limited

(Registration number: 03905898)
Balance Sheet as at 31 March 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 20,437 | 24,104
Current assets |  |  |
Stocks |  | 60,000 | 60,000
Debtors | 5 | 18,201 | 11,014
Cash at bank and in hand |  | 14,309 | 6,733
|  | 92,510 | 77,747
Creditors: Amounts falling due within one year | 6 | (210,819) | (197,225)
Net current liabilities |  | (118,309) | (119,478)
Total assets less current liabilities |  | (97,872) | (95,374)
Creditors: Amounts falling due after more than one year | 6 | (2,329) | (2,329)
Net liabilities |  | (100,201) | (97,703)
Capital and reserves |  |  |
Called up share capital |  | 45,000 | 45,000
Retained earnings |  | (145,201) | (142,703)
Shareholders' deficit |  | (100,201) | (97,703)

Mediply Limited

(Registration number: 03905898)
Balance Sheet as at 31 March 2025 (continued)

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 10 November 2025 and signed on its behalf by:

......................................... Mr J P McGailey Company secretary and director

Mediply Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 The Courtyard Pennyfarthing Lane
Thornton Cleveleys
Blackpool
Lancashire
FY5 2ED

These financial statements were authorised for issue by the Board on 10 November 2025.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

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" Section 1A for small entities and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in Sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The accounts have been prepared on a going concern basis, despite the fact that liabilities exceed assets. The directors have given an undertaking to support the company until it returns to a net assets position. For this reason, it is considered to prepare the accounts on the going concern basis.

Mediply Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2 | Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision off goods and services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Furniture and fixtures | 20% Reducing balance
Leasehold improvements | 10% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Mediply Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2 | Accounting policies (continued)

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

Mediply Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2 | Accounting policies (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
The Company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its 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.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and liability simultaneously.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. As equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2024 - 6).

Mediply Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

4 | Tangible assets

| Land and buildings £ | Fixtures and fittings £ | Total £
Cost or valuation
At 1 April 2024 | 15,390 | 14,063 | 29,453
At 31 March 2025 | 15,390 | 14,063 | 29,453
Depreciation
At 1 April 2024 | 1,924 | 3,425 | 5,349
Charge for the year | 1,539 | 2,128 | 3,667
At 31 March 2025 | 3,463 | 5,553 | 9,016
Carrying amount
At 31 March 2025 | 11,927 | 8,510 | 20,437
At 31 March 2024 | 13,466 | 10,638 | 24,104

Included within the net book value of land and buildings above is £11,927 (2024 - £13,466) in respect of freehold land and buildings.

5 | Debtors

Current | 2025 £ | 2024 £
Trade debtors | 12,610 | 5,946
Prepayments | 5,591 | 5,068
| 18,201 | 11,014

Mediply Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

6 | Creditors

Creditors: amounts falling due within one year

| 2025 £ | 2024 £
Trade creditors | 4,938 | 5,094
Amounts due to related parties | 191,435 | 183,298
Other taxation and social security | 9,142 | 6,364
Outstanding defined contribution pension costs | 188 | 266
Accruals | 5,116 | 2,203
| 210,819 | 197,225
Due after one year |  |
Loans and borrowings | 2,329 | 2,329