Company registration number 02068130 (England and Wales)
Mediline Group Services Limited
Financial Statements
For The Year Ended 31 March 2025
PAGES FOR FILING WITH REGISTRAR
MEDILINE GROUP SERVICES LIMITED
Mediline Group Services Limited
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 8
MEDILINE GROUP SERVICES LIMITED
Mediline Group Services Limited
BALANCE SHEET
AS AT 31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
78,713
46,800
Investments
4
170
170
78,883
46,970
Current assets
Debtors
5
5,768,446
3,999,601
Cash at bank and in hand
1,249,783
1,046,250
7,018,229
5,045,851
Creditors: amounts falling due within one year
6
(4,188,449)
(2,327,131)
Net current assets
2,829,780
2,718,720
Total assets less current liabilities
2,908,663
2,765,690
Creditors: amounts falling due after more than one year
7
(40,056)
-
0
Provisions for liabilities
(15,433)
(6,779)
Net assets
2,853,174
2,758,911
Capital and reserves
Called up share capital
40,000
40,000
Capital redemption reserve
20,000
20,000
Profit and loss reserves
2,793,174
2,698,911
Total equity
2,853,174
2,758,911

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 22 December 2025 and are signed on its behalf by:
D Irozuru
Director
Company registration number 02068130 (England and Wales)
MEDILINE GROUP SERVICES LIMITED
Mediline Group Services Limited
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
1
Accounting policies
Company information

Mediline Group Services Limited is a private company limited by shares incorporated in England and Wales. The registered office and principal place of business is Bechers House, Charnock Road, Liverpool, L9 6AW.

1.1
Reporting period

The company shortened the period end from 28 July 2023 to 31 March 2024 in the prior year. The period was shortened to better suit the business. As a result, comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.

1.2
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 amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the investment properties at fair value. The principal accounting policies adopted are set out below.

1.3
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4
Turnover

Turnover represents rents receivable for the period and management charges receivable from subsidiary companies for central support services provided during the period.

Rents receivable under operating leases are included in the Income Statement on a straight line basis over the term of the lease.

1.5
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:

Fixtures and fittings
20-50% Straight Line
Motor vehicles
25% Straight Line

Freehold land is not depreciated. The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Fixed asset investments

Interests in subsidiarie s a re initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

MEDILINE GROUP SERVICES LIMITED
Mediline Group Services Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 3 -

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.7
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand. Bank overdrafts are shown within borrowings in current liabilities.

1.9
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.

MEDILINE GROUP SERVICES LIMITED
Mediline Group Services Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
Basic financial liabilities

Basic financial liabilities, including creditors, loans from fellow group companies, 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 payments 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. Amounts 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.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.11
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.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

MEDILINE GROUP SERVICES LIMITED
Mediline Group Services Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 5 -
1.14
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Employees

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

2025
2024
Number
Number
Total
4
6
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2024
56,249
Additions
55,118
At 31 March 2025
111,367
Depreciation and impairment
At 1 April 2024
9,449
Depreciation charged in the year
23,205
At 31 March 2025
32,654
Carrying amount
At 31 March 2025
78,713
At 31 March 2024
46,800
MEDILINE GROUP SERVICES LIMITED
Mediline Group Services Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
4
Fixed asset investments
2025
2024
£
£
Shares in group undertakings and participating interests
170
170
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
9,777
13,442
Amounts owed by group undertakings
5,706,334
3,980,949
Other debtors
52,335
5,210
5,768,446
3,999,601
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
17,607
14,490
Amounts owed to group undertakings
4,069,226
2,180,082
Corporation tax
58,240
52,824
Other taxation and social security
9,179
15,039
Other creditors
34,197
64,696
4,188,449
2,327,131

Included within other creditors are hire purchase agreements of £6,684 (2024: £Nil) which are secured against the fixed assets to which they relate.

7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
40,056
-
0

Included within other creditors are hire purchase agreements of £40,056 (2024: £Nil) which are secured against the fixed assets to which they relate.

MEDILINE GROUP SERVICES LIMITED
Mediline Group Services Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 7 -
8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

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.

Senior Statutory Auditor:
Julie Flintoff BA(Hons) FCA
Statutory Auditor:
Azets Audit Services
Date of audit report:
23 December 2025
MEDILINE GROUP SERVICES LIMITED
Mediline Group Services Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 8 -
9
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
Total commitments
30,936
70,911

The operating leases represent leases to third parties. The leases are negotiated over terms of 21 to 25 years . All leases include a provision for five-yearly upward rent reviews according to prevailing market conditions.

At the reporting end date the company had contracted with tenants for the following minimum lease payments:

2025
2024
Future amounts receivable under operating leases:
£
£
Within 1 year
157,004
129,441
Years 2-5
628,016
517,766
After 5 years
776,905
770,295
Total commitments
1,561,925
1,417,502
10
Parent company

In the directors' opinion the company's ultimate parent company is Birch Faraday Capital Limited, a company incorporated in the UK. Copies of the accounts for Birch Faraday Captial Limited can be obtained from its registered office address: 239 Kensington High Street, Office 103, London, W8 6SN.

Birch Faraday Capital Limited is the only member of the group to prepare consolidated accounts.

The company is under the ultimate control of Darnell Irozuru, director and majority shareholder of Birch Faraday Capital Limited.

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