Registration number:
for the
Year Ended 31 March 2025
Enimed Limited
Contents
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Company Information |
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Strategic Report |
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Directors' Report |
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Statement of Directors' Responsibilities |
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Independent Auditor's Report |
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Profit and Loss Account |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
Enimed Limited
Company Information
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Directors |
K Patel N Patel V Patel |
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Company secretary |
V Patel |
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Registered office |
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Auditors |
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Enimed Limited
Strategic Report for the Year Ended 31 March 2025
The directors present their strategic report for the year ended 31 March 2025.
Principal activity
The principal activity of the company is that of a pharmacy including wholesale pharmacy.
Fair review of the business
The financial year has been a particularly challenging year for community pharmacy with medicine price volatility and cost inflation pressures continuing to be being key headwinds for the whole sector. Whilst the uplift in the pharmacy contract funding was welcomed by the sector, it still fell short of what is required.
The company acquired 2 pharmacies and sold 1 pharmacy during the year whilst it has been focusing on the consolidation and optimisation of the core portfolio. Management remains opportunistic when assessing M&A opportunities given the changing contractor landscape, and hence M&A had continued post year end. At the year end, the company had 37 pharmacies mainly across the South East of England.
The results for the year which are set out in the profit and loss account show turnover of £50,634,795 (2024 - £44,886,010) and an operating profit of £4,267,267 (2024 - £3,032,093). At 31 March 2025, the company had net assets of £16,918,288 (2024 - £15,392,628). The directors consider the performance for the year end and the financial position at the year end to be satisfactory, given the current trading environment.
Going forward, the focus in the coming year will be on driving the NHS/Private services agenda whilst continued investment in all parts of our central infrastructure is likely to accelerate.
The company's key financial and other performance indicators during the year were as follows:
|
Financial KPIs |
Unit |
2025 |
2024 |
|
Turnover |
£ |
50,634,795 |
44,886,010 |
|
Gross profit |
£ |
16,682,164 |
15,297,898 |
|
Gross profit margin |
% |
33 |
34 |
|
EBITDA |
£ |
5,864,820 |
5,101,723 |
|
EBITDA margin |
% |
12 |
11 |
|
Average number of employees |
No. |
290 |
289 |
Earnings before interest, tax, depreciation and amortisation (EBITDA) is calculated as operating profit before depreciation and amortisation charges excluding any one off income and expenses.
Principal risks and uncertainties
The management of the company and the execution of the company's strategy are subject to a number of risks. The key business risks and uncertainties affecting the company are considered to relate to reductions in NHS funding and the competition in the local market.
Enimed Limited
Strategic Report for the Year Ended 31 March 2025
Section 172(1) statement
Section 172(1) of the Companies Act 2006 requires the directors of the company to act in the way that they consider, in good faith, would most likely promote the success of the company for the benefit of its owners and stakeholders.
In doing so Section 172(1) requires a director to have regard (amongst other matters) to:
a) The likely consequences of any decisions in the long-term.
b) The interests of the company’s employees.
c) The need to foster the company’s business relationships with suppliers, customers, and others.
d) The impact of the company’s operations on the community and the environment.
e) The desirability of the company maintaining a reputation for high standards of business conduct.
f) The need to act fairly as between members of the company.
The directors of the company are active in the day to day operations of the company, but have delegated certain tasks to the senior management team and then engage the senior management in setting, approving and overseeing execution of the business strategy and related policies.
The directors and senior management team provide supervision and guidance to the wider teams, making decisions concerning operational planning, evaluating performance, workforce planning and remuneration.
Our employees are fundamental to the success of the company. We aim to be a responsible employer in our approach to the pay and benefits our employees receive. The health, safety and well being of our employees is one of our primary considerations in how we operate.
The company places considerable value on the involvement of its employees in developing the long-term strategy and performance of the business and are consulted regularly on a wide range of matters likely to affect their interest. The company keeps employees informed on matters affecting them and the performance of the company through formal and informal meetings, regular performance feedback and the company website.
We aim to act responsibly and fairly in how we engage with suppliers and have policies in place for entering and maintaining relationships to ensure the company acts in this way.
The company is very much focused on its customers, and the directors commit considerable time, effort and resources into understanding and responding to the needs of customers.
As an independent pharmacy chain, the directors understand the impact of the company’s operations on the communities it serves and the environment, and attribute to behaving as a responsible business.
Our intention is to behave responsibly towards our shareholders and to treat them fairly and equally, so they too may benefit from the company’s strategy.
Approved by the
Director
Enimed Limited
Directors' Report for the Year Ended 31 March 2025
The directors present their report and the financial statements for the year ended 31 March 2025.
Directors of the company
The directors who held office during the year were as follows:
Matters included in the Strategic Report
The following matters, required to be disclosed in the Directors' Report, are of strategic importance and are therefore covered within the Section 172(1) statement within the Strategic Report:
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• |
engagement with suppliers, customers and others; and |
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• |
engagement with employees. |
Financial instruments
The company's financial instruments, comprise borrowings, cash and liquid resources, and various other items such as trade debtors, trade creditors, etc. that arise directly from its operations. The main purposes of these financial instruments is to finance the operations of the company. As the company's main source of income is prescription receipts from the NHS, these trade debtors are not subject to credit risk although the timing of these receipts gives rise to a cash flow risk.
The Board constantly monitor the company's trading results to ensure that the company can meet its future obligations as they fall due and have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and therefore continue to adopt the going concern basis of accounting in preparing the annual financial statements.
Employment of disabled persons
The company's employment policies are fair, equitable and consistent with the skills and abilities of the employees and the needs of the company's business. If any employee becomes disabled, the objective is the continued provision of suitable employment either in the same or an alternative position with appropriate training if necessary.
Environmental report
We have considered the recommendations of the Financial Stability Board’s Task Force on Climate-related Financial Disclosures (TCFD) when preparing this report. These recommendations encourage businesses to increase disclosure of climate-related information, with an emphasis on financial disclosure. Enimed Limited supports these recommendations and are committed to disclosing the relevant information which can be found below.
The company meets the qualifying requirements for Streamlined Energy & Carbon reporting, as such the energy consumption is as follows:
Enimed Limited
Directors' Report for the Year Ended 31 March 2025
Streamlined Energy & Carbon Reporting
The company meets the qualifying requirements for Streamlined Energy & Carbon reporting, as such the energy consumption is as follows:
|
2025 : |
Usage |
kWh |
tCo2e |
|
Electricity |
604,287 (kWh) |
604,287 |
106,959 |
|
Fuel - Petrol |
14,922 (L) |
143,400 |
35,850 |
|
Fuel - Diesel |
12,370 (L) |
135,575 |
32,538 |
|
Total |
883,262 |
175,347 |
|
2024 : |
Usage |
kWh |
tCo2e |
|
Electricity |
414,212 (kWh) |
414,212 |
85,773 |
|
Fuel - Petrol |
15,672 (L) |
181,976 |
45,494 |
|
Fuel - Diesel |
10,726 (L) |
148,296 |
34,108 |
|
Total |
744,641 |
165,414 |
The usage by the company of Gas at the branches is insignificant and therefore this has not been reported on.
Intensity ratio
The business metric used for the calculation of the intensity ratio is the number of branches operated in the year. The number of branches for the 2025 year end was 37 (2024 - 37).
The intensity ratio for the company is the total carbon used of 175,347 (2024 - 165,414) tCO2e divided by the number of branches of 37 (2024 - 37), giving an intensity ratio of 4,739 (2024 - 4,471) tCO2e per branch.
Methodologies
To allow for accurate and representative data to include with our Streamlined Energy and Carbon Reporting, the following methodologies were used to ensure verifiable data was obtained, where reasonably practicable:
• Electricity: Meter reading data for branch locations was obtained directly from the supplier, accessed from invoices provided to our internal accounts department.
• Transport Fuel: Consumption is calculated directly from the supplier through statements. The fuel consumption is then converted using the recognised conversion factors, which then allows a carbon conversion factor per litre of fuel used to be applied.
Once the activity data has been obtained, the following conversion factors are applied.
Carbon Conversion Factors
The company have used the GOV.UK publicised greenhouse gas conversion factors published in 2025; greenhouse gas reporting: conversion factors 2025.
Relevant Conversion Factors are detailed below and were used during the development of our reported carbon intensity.
|
tCo2e |
Notes |
|
|
Electricity |
0.17700 |
UK Electricity kWh |
|
Fuel - Petrol |
0.25 |
Total tCo2e per Litre |
|
Fuel - Diesel |
0.24 |
Total tCo2e per Litre |
Enimed Limited
Directors' Report for the Year Ended 31 March 2025
Energy efficient and reduced carbon consumption progress
The company recognise the UK Government’s legal obligation to be Net Zero Carbon by 2050 as amended in the Climate Change Act 2019. The company is acutely aware of the need for all organisations and individuals to play their part in Green House Gas reduction strategies, and join many of the customers, suppliers, industry bodies and competitors in recognising the Climate Emergency.
The company has a long-term strategy and commitment to reduce carbon emissions from operations and have been improving energy efficiency and its carbon emissions through the following ways:
• Main warehouse: Following the introduction of the main warehouse for stock control the number of deliveries by suppliers has reduced as larger quantities of stock can be delivered at one time, with only deliveries being made to stores when required.
• Delivery: The company has streamlined delivery services by ensuring routes and delivery plans are efficient, but still meet patients’ requirements. This has led to the number of miles and fuel consumed being reduced. The company has adopted a new delivery approach from the main warehouse to stores and so that the number of internal trips is also significantly reduced.
• Electric vehicles: The company has a long-term strategy to convert the existing fleet to fully electric. The transition to electric vehicles will be dependent on existing contracts ending and the price achieved on the new vehicles.
• Store refurbishment: The company are committed to updating branches, with 2 branches refurbished in the year. As part of the store refurbishment the new design will include energy efficiency saving measures such as LED lighting, energy efficient windows and improved insulation and energy efficient heating.
Disclosure of information to the auditors
Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.
Reappointment of auditors
Hazlewoods LLP have expressed their willingness to continue in office.
Approved by the
Director
Enimed Limited
Statement of Directors' Responsibilities
The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
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• |
select suitable accounting policies and apply them consistently; |
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• |
make judgements and accounting estimates that are reasonable and prudent; |
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• |
state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
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• |
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Enimed Limited
Independent Auditor's Report to the Members of Enimed Limited
Opinion
We have audited the financial statements of Enimed Limited (the 'company') for the year ended 31 March 2025, which comprise the Profit or Loss Account, Balance Sheet, Statement of Changes in Equity, and Notes to the Financial Statements, 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).
In our opinion the financial statements:
• | give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit for the year then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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• |
the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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• |
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
Enimed Limited
Independent Auditor's Report to the Members of Enimed Limited
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• |
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
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• |
the financial statements are not in agreement with the accounting records and returns; or |
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• |
certain disclosures of directors' remuneration specified by law are not made; or |
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• |
we have not received all the information and explanations we require for our audit. |
Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page 7, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Extent to which the audit was capable of detecting irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We considered the nature of the company’s industry and its control environment and reviewed the company’s documentation of their policies and procedures relating to fraud and compliance with laws and regulations. We
also enquired of management about their own identification and assessment of the risks of irregularities.
We obtained an understanding of the legal and regulatory framework that the company operates in and identified the key laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements, including the UK Companies Act and tax legislation, and, those that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company’s ability to operate or to avoid a material penalty.
We discussed among the audit engagement team regarding the opportunities and incentives that may exist within the organisation for fraud and how and where fraud might occur in the financial statements.
In common with all audits carried out in accordance with ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override of controls. In addressing the risk of fraud through
management override of controls, we tested the appropriateness of journal entries and other adjustments; assessed whether the judgements made in accounting estimates are indicative of a potential bias; and evaluated
the business rationale of any significant transactions that are unusual or outside the normal course of business.
In addition to the above, our procedures to respond to the risks identified included the following:
• reviewing financial statement disclosures by testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
• performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatements due to fraud;
• enquiring of management concerning actual and potential litigation and claims and instances of non-compliance with laws and regulations; and
• reading minutes of meetings of those charged with governance.
Enimed Limited
Independent Auditor's Report to the Members of Enimed Limited
Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not
detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the
further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of this report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
For and on behalf of
Staverton Court
Staverton
GL51 0UX
Enimed Limited
Profit and Loss Account for the Year Ended 31 March 2025
|
Note |
2025 |
2024 |
|
|
Turnover |
|
|
|
|
Cost of sales |
( |
( |
|
|
Gross profit |
|
|
|
|
Administrative expenses |
( |
( |
|
|
Other operating income |
|
|
|
|
Operating profit |
4,267,267 |
3,032,093 |
|
|
Profit on disposal of subsidiaries |
|
|
|
|
Fair value loss on financial instruments |
- |
( |
|
|
Other interest receivable and similar income |
|
|
|
|
Interest payable and similar expenses |
( |
( |
|
|
Profit before tax |
|
|
|
|
Tax on profit |
( |
( |
|
|
Profit for the financial year |
|
|
The above results were derived from continuing operations.
The company has no other comprehensive income for the year.
Enimed Limited
(Registration number: 06281747)
Balance Sheet as at 31 March 2025
|
Note |
2025 |
2024 |
|
|
Fixed assets |
|||
|
Intangible assets |
|
20,489,698 |
|
|
Tangible assets |
|
1,036,103 |
|
|
Investments |
|
63,554 |
|
|
|
21,589,355 |
||
|
Current assets |
|||
|
Stocks |
|
3,754,562 |
|
|
Debtors |
|
8,710,253 |
|
|
Cash at bank and in hand |
|
2,414,603 |
|
|
|
14,879,418 |
||
|
Creditors: Amounts falling due within one year |
( |
(21,006,643) |
|
|
Net current liabilities |
( |
(6,127,225) |
|
|
Total assets less current liabilities |
|
15,462,130 |
|
|
Deferred tax and other provisions |
( |
(69,502) |
|
|
Net assets |
|
15,392,628 |
|
|
Capital and reserves |
|||
|
Called up share capital |
|
400 |
|
|
Share premium reserve |
|
4,990,892 |
|
|
Profit and loss account |
|
10,401,336 |
|
|
Total equity |
|
15,392,628 |
Approved and authorised by the
Director
Enimed Limited
Statement of Changes in Equity for the Year Ended 31 March 2025
|
Share capital |
Share premium |
Profit and loss account |
Total |
|
|
At 1 April 2024 |
|
|
|
|
|
Profit for the year |
- |
- |
|
|
|
Dividends |
- |
- |
( |
( |
|
At 31 March 2025 |
|
|
|
|
|
Share capital |
Share premium |
Profit and loss account |
Total |
|
|
At 1 April 2023 |
|
|
|
|
|
Profit for the year |
- |
- |
|
|
|
Dividends |
- |
- |
( |
( |
|
At 31 March 2024 |
400 |
4,990,892 |
10,401,336 |
15,392,628 |
Enimed Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
|
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
|
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 were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.
The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.
Summary of disclosure exemptions
Enimed Limited meets the definition of a qualifying entity under FRS 102 and has therefore taken advantage of the disclosure exemptions available to it in respect of its financial statements. Exemptions have been taken in relation to presentation of a cash flow statement and financial instruments.
Name of parent of group
These financial statements are consolidated in the financial statements of Enimed (Holdings) Limited.
The financial statements of Enimed (Holdings) Limited may be obtained from the company's registered office..
Exemption from preparing group accounts
The financial statements contain information about Enimed Limited as an individual company and do not contain consolidated financial information as the parent of a group.
The company is exempt under section 400 of the Companies Act 2006 from the requirement to prepare consolidated financial statements as it and its subsidiary are included by full consolidation in the consolidated financial statements of its parent, Enimed (Holdings) Limited.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.
Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
Enimed Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
Judgements
No significant judgements have been made by management in preparing these financial statements. |
Key sources of estimation uncertainty
No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.
The company recognises revenue when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the entity. Revenue from the sale of goods is recognised when the risks and
rewards of ownership are transferred. Revenue from services is recognised in the accounting periods in which
the services are rendered.
Government grants
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
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 taxable income.
Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
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 |
|
Leasehold improvements |
Over the term of the lease |
|
Plant and machinery |
25% straight line |
|
Motor vehicles |
15% reducing balance |
|
Furniture and equipment |
15% reducing balance |
Enimed Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the company in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the company includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Merger accounting
these are accounted for using the principles of merger accounting whereby the carrying values of the assets and
liabilities acquired are not adjusted to fair value and any difference between the consideration and the
carrying value of the assets and liabilities acquired is recognised as a merger reserve within equity. Comparative
amounts are not restated in respect of such group reorganisations.
Intangible assets
Intangible assets are stated in the balance sheet at cost less any subsequent accumulated amortisation and subsequent impairment losses. Intangible assets recognised on a business combination are initially included at fair value for this purpose.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
|
Asset class |
Amortisation method and rate |
|
Goodwill |
Straight line over 20 years |
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Trade debtors
Trade debtors are amounts due from customers for goods sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. 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 debtors.
Stocks
Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Cost is determined using the first-in, first-out (FIFO) method. Net realisable value is based on selling price less anticipated selling costs. Costs include all direct costs and an appropriate portion of fixed and variable overheads.
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 all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.
Enimed Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
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.
Provisions
Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
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.
Income received from operating leases is recognised on a straight-line basis over the lease term.
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. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
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
Recognition and measurement
Enimed Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
Impairment
A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.
The recoverable amount of goodwill is derived from measurement of the present value of the future cash flows of the cash-generating units ('CGUs') of which the goodwill is a part. Any impairment loss in respect of a CGU is allocated first to the goodwill attached to that CGU, and then to other assets within that CGU on a pro-rata basis.
Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. Where a reversal of impairment occurs in respect of a CGU, the reversal is applied first to the assets (other than goodwill) of the CGU on a pro-rata basis and then to any goodwill allocated to that CGU.
For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.
Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.
Derivative financial statements
The company uses derivative financial instruments to reduce exposure to interest rate risk. The company does not hold or issue derivative financial instruments for speculative purposes.
Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognised in profit or loss immediately.
|
Turnover |
The analysis of the company's turnover for the year from continuing operations is as follows:
|
2025 |
2024 |
|
|
Sale of goods |
|
44,080,815 |
|
Rendering of services |
|
805,195 |
|
|
44,886,010 |
The disclosure of turnover by class of business has not been presented in the financial statements. In the opinion of the directors disclosure of this information would be against the commercial interest of the company.
The total turnover of the company has been derived from its principal activity wholly undertaken in the United Kingdom.
Enimed Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Other operating income |
The analysis of the company's other operating income for the year is as follows:
|
2025 |
2024 |
|
|
Rent receivable |
196,963 |
178,727 |
|
Operating profit |
Arrived at after charging
|
2025 |
2024 |
|
|
Depreciation expense |
|
185,145 |
|
Amortisation expense (included in administrative expenses) |
|
1,490,817 |
|
Operating lease expense - property |
|
941,180 |
|
Operating lease expense - plant and machinery |
- |
2,600 |
|
Other interest receivable and similar income |
|
2025 |
2024 |
|
|
Monies received in relation to the interest rate swap |
- |
447,829 |
|
Interest receivable |
|
609 |
|
|
448,438 |
|
Interest payable and similar expenses |
|
2025 |
2024 |
|
|
Interest on bank overdrafts and borrowings |
|
28,893 |
|
Interest expense on loans from group companies |
|
1,393,039 |
|
|
1,421,932 |
Enimed Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Staff costs |
The aggregate payroll costs (including directors' remuneration) were as follows:
|
2025 |
2024 |
|
|
Wages and salaries |
|
5,356,799 |
|
Social security costs |
|
427,652 |
|
Pension costs, defined contribution scheme |
|
85,615 |
|
|
5,870,066 |
The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:
|
2025 |
2024 |
|
|
Pharmacists, dispensers and other branch staff |
|
|
|
Administration and head office |
|
|
|
Directors |
|
|
|
|
|
|
Directors' remuneration |
The directors' remuneration for the year was as follows:
|
2025 |
2024 |
|
|
Remuneration |
|
108,196 |
|
Contributions paid to money purchase schemes |
|
1,321 |
|
116,188 |
109,517 |
During the year the number of directors who were receiving benefits was as follows:
|
2025 |
2024 |
|
|
Accruing benefits under money purchase pension scheme |
|
|
|
Auditors' remuneration |
|
2025 |
2024 |
|
|
Audit of the financial statements |
|
|
Amounts receivable by the company's auditors and its associates in respect of services to the company and its associates, other than the audit of the company's financial statements, have not been disclosed as they are required instead to be disclosed on a consolidated basis in the consolidated financial statements of Enimed (Holdings) Limited.
Enimed Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Taxation |
Tax charged in the profit and loss account.
|
2025 |
2024 |
|
|
Current taxation |
||
|
UK corporation tax |
|
726,744 |
|
UK corporation tax adjustment to prior periods |
|
- |
|
1,101,667 |
726,744 |
|
|
Deferred taxation |
||
|
Arising from origination and reversal of timing differences |
|
7,933 |
|
Arising from previously unrecognised tax loss, tax credit or temporary difference of prior periods |
7,097 |
- |
|
Total deferred taxation |
|
7,933 |
|
Tax expense in the profit and loss account |
|
734,677 |
The tax on profit before tax for the year is higher than the standard rate of corporation tax in the UK (2024 - higher than the standard rate of corporation tax in the UK) of
The differences are reconciled below:
|
2025 |
2024 |
|
|
Profit before tax |
|
2,067,181 |
|
Corporation tax at standard rate |
|
516,795 |
|
Increase/(decrease) in UK and foreign current tax from adjustment for prior periods |
|
(72,163) |
|
Tax increase from fixed asset differences |
|
290,045 |
|
Total tax charge |
|
734,677 |
Deferred tax
Deferred tax assets and liabilities
|
2025 |
Liability |
|
Capital allowances in excess of depreciation |
|
|
Short term timing differences |
( |
|
|
|
2024 |
Liability |
|
Capital allowances in excess of depreciation |
|
|
Short term timing differences |
( |
|
|
Enimed Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Intangible assets |
|
Goodwill |
|
|
Cost or valuation |
|
|
At 1 April 2024 |
|
|
Acquired through business combinations |
|
|
Adjustment to consideration for previous acquisitions |
|
|
Disposals |
( |
|
At 31 March 2025 |
|
|
Amortisation |
|
|
At 1 April 2024 |
|
|
Amortisation charge |
|
|
Amortisation eliminated on disposals |
( |
|
At 31 March 2025 |
|
|
Carrying amount |
|
|
At 31 March 2025 |
|
|
At 31 March 2024 |
|
On 31 January 2019, the company acquired the entire share capital of PI Gen Pharma Limited, for a total consideration of £2,510,812, including acquisition costs of £31,764. On 1 February 2019, the trade, assets and liabilities of the group were immediately hived up into the company with the amount outstanding remaining on intercompany account, of £140,046, which was repaid via a dividend. This resulted in an apparent over valuation of the investment in the subsidiary although there was no overall loss to the company. The Companies Act 2006 requires that where an over valuation is expected to be permanent, the investment should be written down accordingly. The directors considered that, as there had been no overall loss to the company, such treatment would fail to give a true and fair view. The potential impairment in the value of the investment of £2,370,686 has been instead reallocated to goodwill, which is amortised over twenty years. The effect of this on the company's balance sheet of the departure from the requirements of the Companies Act 2006 is to recognise goodwill of £2,370,686 and accumulated amortisation of £730,962.
On 31 January 2020, the company acquired the entire share capital of Rose Pharmedics Limited for a total consideration of £37,933, including acquisition costs of £2,333. On 1 February 2020, the trade, assets and liabilities were hived up into the company with the amount outstanding of £667,735 remaining on intercompany account. An amount of £667,137 has been treated as a capital contribution and an additional investment in Rose Pharmedics Limited. After taking account of this, this resulted in an apparent over valuation of the investment in the subsidiary, although there was no overall loss to the company. The Companies Act 2006 requires that where an over valuation is expected to be permanent, the investment should be written down accordingly. As above, the directors considered that, as there had been no overall loss to the company, such treatment would fail to give a true and fair view. The potential impairment in the value of the investment of £704,950 has been instead reallocated to goodwill, which is amortised over twenty years. The effect of this on the company's balance sheet of the departure from the requirements of the Companies Act 2006 is to recognise goodwill of £769,350 (including subsequent adjustments to purchase consideration) and accumulated amortisation of £194,254.
Enimed Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
On 30 April 2020, the company acquired the entire share capital of Caversham HC Consortium Limited for a total consideration of £947,462, including acquisition costs of £19,864. On 1 May 2020, the trade, assets and liabilities were hived up into the company with the amount outstanding of £38,374 remaining on intercompany account. This resulted in an apparent over valuation of the investment in the subsidiary, although there was no overall loss to the company. The Companies Act 2006 requires that where an over valuation is expected to be permanent, the investment should be written down accordingly. The directors considered that, as there had been no overall loss to the company, such treatment would fail to give a true and fair view. The potential impairment in the value of the investment of £909,088 has been instead reallocated to goodwill, which is amortised over twenty years. The effect of this on the company's balance sheet of the departure from the requirements of the Companies Act 2006 is to recognise goodwill of £980,189 and accumulated amortisation of £240,963.
On 31 January 2019, the company acquired the entire share capital of Merrygood Limited and its subsidiary, Manichem Limited, for a total consideration of £13,560,873, including acquisition costs of £285,783. On 1
February 2019, the trade, assets and liabilities of the group were immediately hived up into the company with the amount outstanding remaining on intercompany account of £2,994,556, which has been treated as a capital contribution and an additional investment in Manichem Limited. This resulted in an apparent over valuation of the investment in the subsidiary, although there was no overall loss to the company. The Companies Act 2006 requires that where an over valuation is expected to be permanent, the investment should be written down accordingly. The directors considered that, as there had been no overall loss to the company, such treatment would fail to give a true and fair view. The potential impairment in the value of the investment of £16,530,429 has been instead reallocated to goodwill, which is amortised over twenty years. The effect of this on the company's balance sheet of the departure from the requirements of the Companies Act 2006 is to recognise goodwill of £16,541,929 (including subsequent adjustments to purchase consideration) and accumulated amortisation of £4,723,163.
Enimed Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Tangible assets |
|
Leasehold improvements |
Plant and machinery |
Motor vehicles |
Furniture, fittings and equipment |
Total |
|
|
Cost |
|||||
|
At 1 April 2024 |
|
|
|
|
|
|
Additions |
- |
|
|
|
|
|
Disposals |
- |
- |
- |
( |
( |
|
At 31 March 2025 |
|
|
|
|
|
|
Depreciation |
|||||
|
At 1 April 2024 |
|
|
|
|
|
|
Charge for the year |
|
|
|
|
|
|
Eliminated on disposal |
- |
- |
- |
( |
( |
|
At 31 March 2025 |
|
|
|
|
|
|
Carrying amount |
|||||
|
At 31 March 2025 |
|
|
|
|
|
|
At 31 March 2024 |
|
|
|
|
|
Enimed Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Investments |
|
2025 |
2024 |
|
|
Investments in subsidiaries |
|
|
|
Subsidiaries |
£ |
|
Cost |
|
|
At 1 April 2024 |
|
|
Additions |
|
|
Disposals |
( |
|
At 31 March 2025 |
|
|
Carrying amount |
|
|
At 31 March 2025 |
|
|
At 31 March 2024 |
|
Details of undertakings
Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
|
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
|
|
2025 |
2024 |
|||
|
Subsidiary undertakings |
||||
|
|
* |
|
|
|
|
|
* |
|
|
|
|
|
* |
|
|
|
|
|
* |
|
|
|
|
|
* |
|
|
|
*The registered office of the subsidiaries is 109-111 Field End Road, Eastcote, Middlesex, HA5 1QG, England & Wales.
Manichem Limited is a subsidiary of Merrygood Limited.
During the year, 45% of the shares in PI-Gen Pharma Limited were disposed of to third parties.
The company also acquired and sold 100% of the shares in Woodbridge Hill Healthcare Limited during the year.
Enimed Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Business combinations |
During the year, Enimed Limited acquired two pharmacies at market value from a third party.
The amounts recognised in respect of the assets acquisition and liabilities assumed are as set out in the table below:
|
Cost |
Fair value |
|
|
Assets and liabilities acquired |
||
|
Stocks |
100,248 |
|
|
Goodwill |
981,899 |
|
|
Total consideration |
1,082,147 |
1,082,147 |
|
|
||
These pharmacies contributed £808,820 in revenue and £15,866 to the company's profit before tax for the period between the date of acquisition and the balance sheet date.
|
Stocks |
|
2025 |
2024 |
|
|
Medicines and retail stock |
|
3,754,562 |
|
Debtors |
|
Current |
2025 |
2024 |
|
Trade debtors |
|
3,926,936 |
|
Amounts owed by related parties |
|
3,624,920 |
|
Other debtors |
|
966,026 |
|
Prepayments |
|
192,371 |
|
Total current trade and other debtors |
|
8,710,253 |
Enimed Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Creditors |
|
2025 |
2024 |
|
|
Due within one year |
||
|
Trade creditors |
|
6,089,383 |
|
Amounts due to related parties |
|
12,960,567 |
|
Social security and other taxes |
|
103,254 |
|
Outstanding defined contribution pension costs |
|
15,758 |
|
Directors' current accounts |
|
658,161 |
|
Other creditors |
|
104,572 |
|
Accrued expenses |
|
135,853 |
|
Corporation tax liability |
|
239,095 |
|
Other borrowings |
- |
700,000 |
|
|
21,006,643 |
Other borrowings
Included in other borrowings is an amounting owing to RX Bridge Limited for £nil (2024 - £700,000). This is a working capital facility provided to pharmacies rather than relying on the timing of NHS funds. This creditor relates to the early drawdown on the facility prior to the receipts detailed on the NHS statements for the month.
|
Deferred tax and other provisions |
|
NHS reimbursement |
Deferred tax |
Total |
|
|
At 1 April 2024 |
- |
|
|
|
New provisions |
|
- |
|
|
Increase in existing provisions |
- |
|
|
|
At 31 March 2025 |
|
|
|
|
|
|||
The NHS reimbursement provision is to cover clawback of potential over-reimbursement received in the current financial year, which will be clawed back over the next 12 months via adjustment through Category M medicines.
|
Pension and other schemes |
Defined contribution pension scheme
The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £
Contributions totalling £
Enimed Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Share capital |
Allotted, called up and fully paid shares
|
2025 |
2024 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
180 |
|
180 |
|
|
|
134 |
|
134 |
|
|
|
66 |
|
66 |
|
|
|
20 |
|
20 |
|
|
|
|
|
|
The different classes of share referred to above carry separate rights to dividends but, in all other significant respects, rank pari passu.
|
Reserves |
Called up share capital
Share capital represents the issued equity share capital for the company.
Share premium
Share premium represents the excess paid over the nominal value of the issued equity share capital of the company.
Profit and loss account
Represents cumulative profits or losses, net of dividends paid and other adjustments.
|
|
|
Obligations under leases |
Operating leases
The total of future minimum lease payments is as follows:
|
2025 |
2024 |
|
|
Not later than one year |
|
|
|
Later than one year and not later than five years |
|
|
|
Later than five years |
|
|
|
|
|
The amount of non-cancellable operating lease payments recognised as an expense during the year was £
Operating leases - lessor
The total of future minimum lease payments is as follows:
|
2025 |
2024 |
|
|
Not later than one year |
|
|
|
|
|
Property rental income earned during the year was £
Enimed Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Dividends |
|
2025 |
2024 |
|
|
Dividends paid |
51,000 |
39,000 |
|
Financial guarantee contracts |
The company is party to a financial guarantee contract in relation to the bank borrowings of its parent company which as at 31 March 2025 amounted to £22,557,741. These are secured by a fixed and floating charge over the assets of the company and imposes a negative pledge which prohibits the company from creating any security interests over the property pledged as security.
Post year end, on 30 April 2025, the loans were refinanced from Enimed (Holdings) Limited, into Enimed Limited.
|
Related party transactions |
Summary of transactions with key management
Summary of transactions with other related parties
During the year, the company advanced funds to an entity with common directors of £595,102 (2024 - £680,625). There are no fixed repayment terms or interest charged on the loan. As at the year end, the amount due from Enimed Properties Limited was £2,571,637 (2024 - £1,976,535). Annual rent of £207,329 (2024 - £163,000) was also paid to Enimed Properties Limited during the year.
During the year, the company advanced funds to a further entity with common directors of £1,129,851 (2024 - £1,648,385). There are no fixed repayment terms or interest charged on the loan. As at the year end, the amount due from PI-Gen Pharma Limited was £2,778,236 (2024 - £1,648,385). Sales of £2,621,902 (2024 - £nil) were also made to PI-Gen Pharma Limited during the year.
During the year, the company repaid funds to the parent of £1,763,146 (2024 - £1,451,961). There are no fixed repayment terms. Interest of £1,604,006 (2024 - £1,393,039) is charged on this loan at a rate of 13.3% (2024 - 10.2%). As at the year end, the amount due to Enimed (Holdings) Limited was £11,159,047 (2024 - £12,922,193).
|
Financial instruments |
Financial assets measured at fair value
Interest rate swap
In 2024 the company's interest rate swap contracts were valued at the present value of future cash flows estimated and discounted based on the applicable yield curves derived from quoted interest rates. The overall movement between the position as at 1 April 2023 to 31 January 2024 (when the position was closed) was a loss of £401,504.
|
Parent and ultimate parent undertaking |
The company's immediate and ultimate parent company is Enimed (Holdings) Limited, a company incorporated in England & Wales. Enimed (Holdings) Limited prepares consolidated financial statements including the company, copies of which can be obtained from its registered office of 109-111 Field End Road, Eastcote, Middlesex, HA15 1QG.
The ultimate controlling party is Mr V Patel.
Enimed Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Non adjusting events after the financial period |
|
|