Company registration number 03680043 (England and Wales)
MEDICAL CONNECTIONS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
MEDICAL CONNECTIONS LTD
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 8
MEDICAL CONNECTIONS LTD
BALANCE SHEET
AS AT 31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
3
-
0
-
0
Tangible assets
4
114,878
209,063
Current assets
Debtors
5
1,604,790
1,573,163
Cash at bank and in hand
292,710
324,493
1,897,500
1,897,656
Creditors: amounts falling due within one year
6
(287,573)
(292,160)
Net current assets
1,609,927
1,605,496
Total assets less current liabilities
1,724,805
1,814,559
Creditors: amounts falling due after more than one year
7
(158,240)
(202,476)
Provisions for liabilities
(23,024)
(46,817)
Net assets
1,543,541
1,565,266
Capital and reserves
Called up share capital
50
50
Profit and loss reserves
1,543,491
1,565,216
Total equity
1,543,541
1,565,266
MEDICAL CONNECTIONS LTD
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2025
31 March 2025
- 2 -

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

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 28 November 2025 and are signed on its behalf by:
Mrs Philippa Webb
Director
Company registration number 03680043 (England and Wales)
MEDICAL CONNECTIONS LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 April 2023
50
1,385,375
1,385,425
Year ended 31 March 2024:
Profit and total comprehensive income
-
327,841
327,841
Dividends
-
(148,000)
(148,000)
Balance at 31 March 2024
50
1,565,216
1,565,266
Year ended 31 March 2025:
Profit and total comprehensive income
-
169,275
169,275
Dividends
-
(191,000)
(191,000)
Balance at 31 March 2025
50
1,543,491
1,543,541
MEDICAL CONNECTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 4 -
1
Accounting policies
Company information

Medical Connections Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Axis 7 Axis Court, Mallard Way, Swansea Vale, Swansea, UK, SA7 0AJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents sales of software licences and amounts receivable for the supply of computer and software support and consultancy services net of VAT and trade discounts, to the extent that there is a right to consideration and is recorded at the value of the consideration due.
Software support and consultancy services are recognised once this income has been earned. Sales of software licences are recognised at the time of activation. Other services such as software development are recognised on completion.

1.3
Intangible fixed assets - goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of ten years.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Improvements to property
Over 20 years
Plant and equipment
25% on cost
Fixtures and fittings
20% on cost
Computers
20% on cost
Motor vehicles
20% on cost
1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

MEDICAL CONNECTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 5 -
1.6
Financial instruments

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 balance sheet 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 settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

MEDICAL CONNECTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 6 -
1.8
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

1.9

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
9
8
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2024 and 31 March 2025
650,000
Amortisation and impairment
At 1 April 2024 and 31 March 2025
650,000
Carrying amount
At 31 March 2025
-
0
At 31 March 2024
-
0
MEDICAL CONNECTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 7 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2024
22,277
428,989
451,266
Additions
-
0
2,682
2,682
At 31 March 2025
22,277
431,671
453,948
Depreciation and impairment
At 1 April 2024
481
241,722
242,203
Depreciation charged in the year
1,287
95,580
96,867
At 31 March 2025
1,768
337,302
339,070
Carrying amount
At 31 March 2025
20,509
94,369
114,878
At 31 March 2024
21,796
187,267
209,063
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
75,626
90,892
Corporation tax recoverable
42,147
-
0
Amounts owed by group undertakings
1,375,550
1,374,186
Other debtors
111,467
108,085
1,604,790
1,573,163
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
24,506
19,346
Taxation and social security
23,779
25,873
Other creditors
239,288
246,941
287,573
292,160
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
158,240
202,476
MEDICAL CONNECTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 8 -
8
Secured debts

Hire purchase contracts totalling £202,476 (2024 - £244,639) are secured by fixed charges on the assets concerned.

9
Financial commitments, guarantees and contingent liabilities

The company had total other commitments at the balance sheet date of £248,194 (2024 - £264,194).

10
Parent company

At 31 March 2024, the company's ultimate parent undertaking was MedIT Holdings Limited, Company Number 11937692. The registered office is Axis 7, Axis Court, Mallard Way, Swansea Vale, Swansea, SA7 0AJ.
In the opinion of the directors there is no ultimate controlling party.

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