REGISTERED NUMBER: 12525179 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Priors Medical (Essex) 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:

12525179 (England and Wales)

ACCOUNTANTS:

DWilkinson&Company

Bank House

27 King Street

Leeds

West Yorkshire

LS1 2HL

FIXED ASSETS

Intangible assets

4

-

787

Tangible assets

5

930,370

842,882

930,370

843,669

CURRENT ASSETS

Stocks

6

25,000

28,996

Debtors

7

256,878

1,376,991

Cash at bank

421,637

215,078

703,515

1,621,065

CREDITORS

Amounts falling due within one year

8

1,108,439

1,122,096

NET CURRENT (LIABILITIES)/ASSETS

(404,924

)

498,969

TOTAL ASSETS LESS CURRENT LIABILITIES

525,446

1,342,638

PROVISIONS FOR LIABILITIES

9

44,802

54,853

NET ASSETS

480,644

1,287,785

CAPITAL AND RESERVES

Called up share capital

10

1

1

Retained earnings

11

480,643

1,287,784

SHAREHOLDERS' FUNDS

480,644

1,287,785

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 (Essex) 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 four 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.

Long leasehold

-

15% on reducing balance

Fixtures and fittings

-

10% on reducing balance

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 - 12 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

6,300

AMORTISATION

At 1 April 2024

5,513

Amortisation for year

787

At 31 March 2025

6,300

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

787

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

Long

to

and

leasehold

property

fittings

Totals

£

£

£

£

COST

At 1 April 2024

125,726

-

1,021,948

1,147,674

Additions

-

167,891

26,939

194,830

At 31 March 2025

125,726

167,891

1,048,887

1,342,504

DEPRECIATION

At 1 April 2024

54,305

-

250,487

304,792

Charge for year

10,713

16,789

79,840

107,342

At 31 March 2025

65,018

16,789

330,327

412,134

NET BOOK VALUE

At 31 March 2025

60,708

151,102

718,560

930,370

At 31 March 2024

71,421

-

771,461

842,882

6.

STOCKS

31.3.25

31.3.24

£

£

Stocks

25,000

28,996

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

311

18,969

Other debtors

231,650

1,338,392

Prepayments

24,917

19,630

256,878

1,376,991

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

30,070

28,050

Tax

-

14,069

Social security and other taxes

15,671

13,887

Other creditors

1,056,098

1,056,098

Directors' current accounts

-

2,264

Accrued expenses

6,600

7,728

1,108,439

1,122,096

9.	PROVISIONS FOR LIABILITIES

31.3.25

31.3.24

£

£

Deferred tax

44,802

54,853

Deferred

tax

£

Balance at 1 April 2024

54,853

Balance at 31 March 2025

54,853

10.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

1

Share capital 1

1

1

1

11.

RESERVES

Retained

earnings

£

At 1 April 2024

1,287,784

Profit for the year

442,859

Dividends

(1,250,000

)

At 31 March 2025

480,643

12.	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.