MEDAIR TIME CRITICAL EXPRESS (UK) LTD

Registered number

13735003

Filleted Accounts

28 February 2025

MEDAIR TIME CRITICAL EXPRESS (UK) LTD
Registered number:		13735003
Balance Sheet
as at 28 February 2025

Notes			2025			2024
CAD				CAD
Fixed assets
Tangible assets	3		109,504			148,101

Current assets
Stocks		31,947			32,252
Debtors	4	489,843			222,691
Cash at bank and in hand		51,226			70,451
		573,016			325,394

Creditors: amounts falling due within one year	5	(2,272,267)			(1,473,378)

Net current liabilities			(1,699,251)			(1,147,984)

Net liabilities			(1,589,747)			(999,883)

Capital and reserves
Called up share capital			168			168
Profit and loss account			(1,589,915)			(1,000,051)

Shareholder's funds			(1,589,747)			(999,883)

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Mr Andrew J Davies
Director
Approved by the board on 25 November 2025

MEDAIR TIME CRITICAL EXPRESS (UK) LTD
Notes to the Accounts
for the year ended 28 February 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). The accounts are presented in Canadian Dollars (CAD).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Leasehold & improvements			over 5 years straight line
	Motor vehicles			30% reducing balance basis
	Plant and machinery			over 5 years
	Equipment, fixtures & fittings			over 5 years straight line

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					6		3


3	Tangible fixed assets
		Leasehold & improvements		Equipment, fixtures & fittings		Motor vehicles		Total
CAD			CAD		CAD		CAD
	Cost
	At 1 March 2024	162,876		2,232		80,160		245,268
	Additions	-		11,350		-		11,350
	Adjustment	-		337		-		337
	At 28 February 2025	162,876		13,919		80,160		256,955

	Depreciation
	At 1 March 2024	65,151		821		31,532		97,504
	Charge for the year	32,575		2,784		14,588		49,947
	At 28 February 2025	97,726		3,605		46,120		147,451

	Net book value
	At 28 February 2025	65,150		10,314		34,040		109,504
	At 29 February 2024	97,725		1,411		48,628		147,764


4	Debtors					2025		2024
CAD							CAD

	Trade debtors					349,770		61,170
	Other debtors					140,073		161,521
						489,843		222,691


5	Creditors: amounts falling due within one year					2025		2024
CAD							CAD

	Trade creditors					106,821		16,237
	Taxation and social security costs					7,129		(63,507)
	Other creditors					2,158,317		1,520,648
						2,272,267		1,473,378


6	Other financial commitments					2025		2024
CAD							CAD

	Total future minimum payments under non-cancellable operating leases					318,023		318,023


7	Other information

	MEDAIR TIME CRITICAL EXPRESS (UK) LTD is a private company limited by shares and incorporated in England. Its registered office is:
	Unit C7 Heathrow Corporate Park,
	Green Lane
	Hounslow
	TW4 6ER