Priors Medical (Marylebone) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 12524522 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Priors Medical (Marylebone) Limited

Page

Company information

1

Balance sheet

2

Notes to the financial statements

4

DIRECTORS:

M Somji

Mrs H Somji

REGISTERED OFFICE:

Bank House

27 King Street

Leeds

LS1 2HL

REGISTERED NUMBER:

12524522 (England and Wales)

ACCOUNTANTS:

DWilkinson&Company

Bank House

27 King Street

Leeds

West Yorkshire

LS1 2HL

FIXED ASSETS

Intangible assets

4

60,085

77,251

Tangible assets

5

333,014

316,609

393,099

393,860

CURRENT ASSETS

Stocks

15,000

21,583

Debtors

6

155,885

1,142,819

Cash at bank and in hand

226,566

285,510

397,451

1,449,912

CREDITORS

Amounts falling due within one year

7

257,643

724,703

NET CURRENT ASSETS

139,808

725,209

TOTAL ASSETS LESS CURRENT
LIABILITIES

532,907

1,119,069

PROVISIONS FOR LIABILITIES

8

27,103

23,986

NET ASSETS

505,804

1,095,083

CAPITAL AND RESERVES

Called up share capital

9

1

Retained earnings

505,803

1,095,082

SHAREHOLDERS' FUNDS

505,804

1,095,083

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 23 December 2025 and were signed on its behalf by:

M Somji - Director

1.	STATUTORY INFORMATION

Priors Medical (Marylebone) Limited 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of eight years.

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.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year 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 year 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 year was 7 (2024 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

137,333

AMORTISATION

At 1 April 2024

60,082

Charge for year

17,166

At 31 March 2025

77,248

NET BOOK VALUE

At 31 March 2025

60,085

At 31 March 2024

77,251

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

COST

At 1 April 2024

447,215

1,698

448,913

Additions

72,630

3,835

76,465

At 31 March 2025

519,845

5,533

525,378

DEPRECIATION

At 1 April 2024

131,738

566

132,304

Charge for year

58,216

1,844

60,060

At 31 March 2025

189,954

2,410

192,364

NET BOOK VALUE

At 31 March 2025

329,891

3,123

333,014

At 31 March 2024

315,477

1,132

316,609

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Other debtors

138,255

1,137,494

VAT

13,584

-

Prepayments

4,046

5,325

155,885

1,142,819

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Trade creditors

17,758

(1

)

Tax

61,315

58,353

Social security and other taxes

4,488

3,137

Other creditors

166,827

653,827

Directors' current accounts

-

1,649

Accrued expenses

7,255

7,738

257,643

724,703

The directors loan account is interest free and repayable on demand.

8.	PROVISIONS FOR LIABILITIES

31.3.25

31.3.24

£

Deferred tax

27,103

23,986

Deferred

tax

£

Balance at 1 April 2024

23,986

Unused amounts reversed during year

3,117

Balance at 31 March 2025

27,103

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

1

Ordinary

1

10.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.