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Ermevin Ltd
Unaudited Filleted Financial Statements
for the Year Ended 30 April 2025

Ermevin Ltd

Contents

Company Information | 1
Balance Sheet | 2 to 3
Notes to the Unaudited Financial Statements | 4 to 12

Ermevin Ltd

Company Information

Director | A Rao

Registered Office | Suite 5 Corum 2 Corum Office Park Crown Way Warmley Bristol BS30 8FJ

Registered Number | 08486321

Accountants | Verinder Powell Associates Limited Suite 5 Corum 2 Corum Office Park Crown Way Warmley Bristol BS30 8FJ

Ermevin Ltd

(Registration number: 08486321)
Balance Sheet as at 30 April 2025

| Note | 2025 £ | (As restated) 2024 £
Fixed assets |  |  |
Tangible assets | 5 | 1,079,048 | 1,145,411
Investments | 6 | 150,240 | 150,240
|  | 1,229,288 | 1,295,651
Current assets |  |  |
Stocks |  | 26,896 | 28,363
Debtors | 7 | 949,234 | 792,538
Cash at bank and in hand |  | 338 | 1,623
|  | 976,468 | 822,524
Creditors: Amounts falling due within one year | 8 | (543,142) | (620,792)
Net current assets |  | 433,326 | 201,732
Total assets less current liabilities |  | 1,662,614 | 1,497,383
Creditors: Amounts falling due after more than one year | 8 | (778,003) | (664,494)
Provisions for liabilities |  | (93,346) | (116,335)
Net assets |  | 791,265 | 716,554
Capital and reserves |  |  |
Called up share capital |  | 1 | 1
Revaluation reserve |  | 221,113 | 221,113
Retained earnings |  | 570,151 | 495,440
Shareholders' funds |  | 791,265 | 716,554

Ermevin Ltd

(Registration number: 08486321)
Balance Sheet as at 30 April 2025

For the financial year ending 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 16 January 2026

......................................... A Rao Director

Ermevin Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Suite 5 Corum 2
Corum Office Park
Crown Way
Warmley
Bristol
BS30 8FJ

These financial statements were authorised for issue by the director on 16 January 2026.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

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 as modified by the revaluation of certain assets. There have been no material departures from the Financial Reporting Standard 102 1A.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The financial statements are prepared in Pounds Sterling (£), and are rounded to the nearest pound.

Prior period restatement

During the year, it was noted that the revaluation of freehold property in the prior year ended 30 April 2024 should of been recognised in the Statement of Other Comprehensive Income and therefore this has been amended accordingly. As a result of this, the balance of accumulated revaluation less associated deferred tax is recognised in the revaluation reserve.

Ermevin Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
- the amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity;
- and specific criteria have been met for each of the company's activities.
For Denplan patients the company recognises revenue:
- evenly across the year as it is received from Denplan;
- when the amount to be received can be reliably measured;
- when it is probable that it will be paid to the company.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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,

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

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

Asset class | Depreciation method and rate
Freehold land and buildings | - not provided
Plant and machinery | - 20% on cost
Motor vehicles | - 20% on cost

Ermevin Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

At the year end the director has confirmed the market value of freehold land and buildings is greater than the cost, and the buildings are kept in a good state of repair, therefore the freehold land and buildings are not depreciated.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, has been amortised evenly over its estimated useful life of five years.
Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Investments

Investments in subsidiary and associate undertakings are recognised at cost.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, which is equivalent to net realisable value.
The cost of finished goods and work in progress comprises all costs of purchase, direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Ermevin Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Ermevin Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

Defined contribution pension obligation

The company operates a define contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. Once the contributions have been paid, the company has no further payment obligations.

3 | Staff numbers

The average number of persons employed by the company (including the director) during the year, was 16 (2024 - 18).

4 | Intangible assets

| Goodwill £ | Total £
Cost or valuation
At 1 May 2024 | 234,997 | 234,997
At 30 April 2025 | 234,997 | 234,997
Amortisation
At 1 May 2024 | 234,997 | 234,997
At 30 April 2025 | 234,997 | 234,997
Carrying amount
At 30 April 2025 | - | -
At 30 April 2024 | - | -

Ermevin Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

5 | Tangible assets

| Freehold land and buildings £ | Plant and machinery £ | Motor vehicles £ | Total £
Cost or valuation
At 1 May 2024 | 950,000 | 565,634 | 91,144 | 1,606,778
Additions | - | - | 6,329 | 6,329
Disposals | - | (2,956) | (5,644) | (8,600)
At 30 April 2025 | 950,000 | 562,678 | 91,829 | 1,604,507
Depreciation
At 1 May 2024 | - | 438,391 | 22,976 | 461,367
Charge for the year | - | 49,605 | 18,366 | 67,971
Eliminated on disposal | - | (2,279) | (1,600) | (3,879)
At 30 April 2025 | - | 485,717 | 39,742 | 525,459
Carrying amount
At 30 April 2025 | 950,000 | 76,961 | 52,087 | 1,079,048
At 30 April 2024 | 950,000 | 127,243 | 68,168 | 1,145,411

.

6 | Investments

| 2025 £ | 2024 £
Investments in subsidiaries | 100 | 100
Investments in associates | 150,140 | 150,140
| 150,240 | 150,240

Ermevin Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

7 | Debtors

| Note | 2025 £ | 2024 £
Amounts owed by related parties | 10 | 913,878 | 768,911
Prepayments and accrued income |  | 32,952 | 23,627
Other debtors |  | 2,404 | -
|  | 949,234 | 792,538

8 | Creditors

Due within one year | Note | 2025 £ | 2024 £
Bank borrowings and overdrafts |  | 224,454 | 313,271
Hire purchase and finance lease liabilities |  | 19,240 | 24,568
Trade creditors |  | 133,020 | 111,151
Amounts owed to related parties | 10 | 22,812 | 33,549
Taxation and social security |  | 76,158 | 15,288
Other creditors |  | 67,458 | 122,965
|  | 543,142 | 620,792

| 2025 £ | 2024 £
Due after one year |  |
Bank borrowings | 714,161 | 557,789
Hire purchase and finance lease liabilities | 63,842 | 106,705
| 778,003 | 664,494

Included in bank borrowings is a balance of £59,091 (2024 - £199,904) which is guaranteed by the government and unsecured.
Included in bank borrowings is a balance of £835,472 (2024 - £632,542) which are secured by a legal charge covering the freehold property known as 17 Queen Square, Bristol, BS1 4NH.
Hire purchase contracts are secured against the assets to which they relate.

Ermevin Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

9 | Financial commitments, guarantees and contingencies

Pension commitments

Included in the balance sheet are pensions of £1,376 (2024 - £1,562). The company participates in a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

Off balance sheet commitments

At the year end the company had future minimum lease payments due under non-cancellable operating leases totalling £10,129 (2024 - £12,772).

10 | Related party transactions

Loans to related parties

2025 | Other related parties £ | Total £
At start of period | 768,911 | 768,911
Advanced | 228,953 | 228,953
Repaid | (83,986) | (83,986)
At end of period | 913,878 | 913,878

2024 | Other related parties £ | Total £
At start of period | 654,995 | 654,995
Advanced | 377,927 | 377,927
Repaid | (264,011) | (264,011)
At end of period | 768,911 | 768,911

Terms of loans to related parties

The loans to other related parties are interest free and repayable on demand.

Ermevin Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

Loans from related parties

2025 | Key management £ | Other related parties £ | Total £
At start of period | 42 | 33,507 | 33,549
Advanced | 130,312 | 86,279 | 216,591
Repaid | (130,321) | (97,007) | (227,328)
At end of period | 33 | 22,779 | 22,812

2024 | Key management £ | Other related parties £ | Total £
At start of period | - | 12,640 | 12,640
Advanced | 180,533 | 20,867 | 201,400
Repaid | (180,491) | - | (180,491)
At end of period | 42 | 33,507 | 33,549

Terms of loans from related parties

The loans from key management are interest free and repayable on demand.
The loans from other related parties are interest free and repayable on demand.