REGISTERED NUMBER: 12131261 (England and Wales)

FINANCIAL STATEMENTS

FOR THE PERIOD

1 JANUARY 2024 TO 31 MARCH 2025

FOR

SENTEC MEDICAL LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr R M Cormier

Mr D Ellenrieder

Mr M Voss

SECRETARY:

EBS Corporate Services Limited

REGISTERED OFFICE:

71-75 Shelton Street

London

Greater London

WC2H 9JQ

REGISTERED NUMBER:

12131261 (England and Wales)

AUDITORS:

Luckmans Duckett Parker Limited

Chartered Accountants

Statutory Auditors

1110 Elliott Court

Herald Avenue

Coventry Business Park

Coventry

West Midlands

CV5 6UB

FIXED ASSETS

Intangible assets

4

500

8,000

Tangible assets

5

6,927

-

7,427

8,000

CURRENT ASSETS

Debtors

6

305,488

199,433

Cash at bank

181,477

143,306

486,965

342,739

CREDITORS

Amounts falling due within one year

7

861,271

454,066

NET CURRENT LIABILITIES

(374,306

)

(111,327

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(366,879

)

(103,327

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(366,880

)

(103,328

)

(366,879

)

(103,327

)

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 December 2025 and were signed on its behalf by:

Mr M Voss - Director

Mr R M Cormier - Director

1.	STATUTORY INFORMATION

Sentec Medical Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The principal accounting policies adopted are set out below.

Going concern

The directors have prepared the financial statements on the going concern basis. The directors have considered the following factors in their assessment of going concern.

The parent undertaking, Sentec AG, has agreed to provide financial support to the company for a period of at least 12 months from the date of these financial statements. The financial support includes deferral of repayments in respect to any amounts owing to Sentec AG. The directors are satisfied that the company has sufficient financial resources to continue trading for the foreseeable future.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is when the goods have been despatched to the buyer.

Rendering of services

When the outcome of a transaction can be estimated reliably, turnover from rendering of services is recognised by reference to the stage of completion at the balance sheet date.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Interest and dividends receivable

Interest income is recognised using the effective interest method and dividend income is recognised as the company's right to receive payment is established.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition , intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Intangible assets are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

33% on cost

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the statement of income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 6 (2023 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Patents

and

licences

£

COST

At 1 January 2024

and 31 March 2025

30,000

AMORTISATION

At 1 January 2024

22,000

Amortisation for period

7,500

At 31 March 2025

29,500

NET BOOK VALUE

At 31 March 2025

500

At 31 December 2023

8,000

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 January 2024

4,675

Additions

8,162

At 31 March 2025

12,837

DEPRECIATION

At 1 January 2024

4,675

Charge for period

1,235

At 31 March 2025

5,910

NET BOOK VALUE

At 31 March 2025

6,927

At 31 December 2023

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2023

£

£

Trade debtors

276,776

180,249

Other debtors

28,712

19,184

305,488

199,433

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2023

£

£

Trade creditors

9,782

1,147

Amounts owed to group undertakings

755,845

327,473

Taxation and social security

57,908

55,120

Other creditors

37,736

70,326

861,271

454,066

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mark Spafford FCA FCCA (Senior Statutory Auditor)

for and on behalf of Luckmans Duckett Parker Limited

9.	ULTIMATE CONTROLLING PARTY

Sentec AG is regarded by the director as being the company's immediate parent undertaking and NexMed Holding AG is the ultimate parent undertaking.

The address of NexMed Holding AG is:

Lettenrain 8

6045 Meggen

Switzerland