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Registration number: 03147743

Meditech Systems Limited
Unaudited Filleted Financial Statements
for the Year Ended 31 January 2025

Meditech Systems Limited

Contents

Company Information | 1
Accountants' Report | 2
Balance Sheet | 3 to 4
Notes to the Unaudited Financial Statements | 5 to 11

Meditech Systems Limited

Company Information

Directors | Mr G P Clowrey Mr M Nathif Mr D E Clowrey

Company secretary | Mr G P Clowrey

Registered office | Shrublands Estate Sherstock Shaftesbury Dorset SP7 9PT

Accountants | Lanham & Francis Church House Church Street Yeovil Somerset BA20 1HB

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Meditech Systems Limited
for the Year Ended 31 January 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Meditech Systems Limited for the year ended 31 January 2025 as set out on pages 3 to 11 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Meditech Systems Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Meditech Systems Limited and state those matters that we have agreed to state to the Board of Directors of Meditech Systems Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Meditech Systems Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Meditech Systems Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Meditech Systems Limited. You consider that Meditech Systems Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Meditech Systems Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

Lanham & Francis
Church House
Church Street
Yeovil
Somerset
BA20 1HB

16 February 2026

Meditech Systems Limited

(Registration number: 03147743)
Balance Sheet as at 31 January 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 240,863 | 239,925
Other financial assets | 5 | 64,416 | 4,037
|  | 305,279 | 243,962
Current assets |  |  |
Stocks | 6 | 779,126 | 840,735
Debtors | 7 | 198,886 | 292,405
Cash at bank and in hand |  | 73,667 | 103,056
|  | 1,051,679 | 1,236,196
Creditors: Amounts falling due within one year | 8 | (212,330) | (410,216)
Net current assets |  | 839,349 | 825,980
Total assets less current liabilities |  | 1,144,628 | 1,069,942
Creditors: Amounts falling due after more than one year | 8 | (616) | -
Provisions for liabilities |  | (20,422) | (4,734)
Net assets |  | 1,123,590 | 1,065,208
Capital and reserves |  |  |
Called up share capital | 11 | 107 | 107
Share premium reserve |  | 359,979 | 359,979
Capital redemption reserve |  | 19 | 19
Non-distributable reserve |  | 1,982 | -
Retained earnings |  | 761,503 | 705,103
Shareholders' funds |  | 1,123,590 | 1,065,208

For the financial year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Meditech Systems Limited

(Registration number: 03147743)
Balance Sheet as at 31 January 2025 (continued)

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 14 February 2026 and signed on its behalf by:

Mr G P Clowrey Company secretary and director |  |

Meditech Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

1 | General information

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

The address of its registered office is:
Shrublands Estate
Sherstock
Shaftesbury
Dorset
SP7 9PT

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 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

These financial statements are prepared in Sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

Revenue recognition

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Differences arising from the translation of transactions in foreign currencies are taken to profit and loss.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Meditech Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025 (continued)

2 | Accounting policies (continued)

The current income 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 charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Plant and machinery | 5% per annum, reducing balance basis or 6 years, straight line basis
Computer equipment | 25% per annum, reducing balance basis
Fixtures and fittings | 10% per annum, reducing balance basis
Motor vehicles | 20% per annum, straight line basis

Investments

Fixed asset investments are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sale proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the profit and loss account in the period of disposal.
Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the profit and loss account based on the market value at the year end.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises 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.

Meditech Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025 (continued)

2 | Accounting policies (continued)

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.

Leases

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 in accordance with the accounting policy above. 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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
FRS 102 classifies financial instruments as either basic financial instruments or other financial instruments. The accounting treatment varies according to the classification.
Basic financial instruments are defined as one of the following:
- cash
- a debt instrument (such as accounts receivable and payable)
- commitment to receive a loan that satisfy certain criteria
- investments in non-convertible preference shares, and non puttable ordinary shares.
All other financial instruments are classed as other financial instruments and treated accordingly.
Recognition and measurement
The company only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Meditech Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025 (continued)

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 20 (2024 - 21).

4 | Tangible assets

| Furniture, fittings and equipment £ | Total £
Cost or valuation
At 1 February 2024 | 470,726 | 470,726
Additions | 23,644 | 23,644
Disposals | (1,954) | (1,954)
At 31 January 2025 | 492,416 | 492,416
Depreciation
At 1 February 2024 | 230,801 | 230,801
Charge for the year | 22,087 | 22,087
Eliminated on disposal | (1,335) | (1,335)
At 31 January 2025 | 251,553 | 251,553
Carrying amount
At 31 January 2025 | 240,863 | 240,863
At 31 January 2024 | 239,925 | 239,925

Meditech Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025 (continued)

5 | Other financial assets (current and non-current)

| Financial assets at fair value through profit and loss £ | Total £
Non-current financial assets
Cost or valuation
At 1 February 2024 | 4,037 | 4,037
Fair value adjustments | 1,982 | 1,982
Additions | 58,397 | 58,397
At 31 January 2025 | 64,416 | 64,416
Carrying amount
At 31 January 2025 | 64,416 | 64,416

6 | Stocks

| 2025 £ | 2024 £
Work in progress | 52,598 | 31,511
Other inventories | 726,528 | 809,224
| 779,126 | 840,735

7 | Debtors

Current | 2025 £ | 2024 £
Trade debtors | 198,886 | 213,463
Other debtors | - | 78,942
| 198,886 | 292,405

Details of non-current trade and other debtors

£Nil (2024 -£Nil) of other debtors is classified as non current.

Meditech Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025 (continued)

8 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings |  | 17,640 | 10,000
Trade creditors |  | 116,378 | 332,924
Taxation and social security |  | 15,152 | 9,914
Accruals and deferred income |  | 27,036 | 23,790
Other creditors |  | 36,124 | 33,588
|  | 212,330 | 410,216

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings |  | 616 | -

Creditors include obligations under finance lease and hire purchase contracts which are secured of £8,010 (2024 - £nil).

9 | Obligations under leases and hire purchase contracts

Finance leases

The total of future minimum lease payments is as follows:

| 2025 £ | 2024 £
Not later than one year | 8,851 | -
Later than one year and not later than five years | 738 | -
| 9,589 | -

Operating leases

The total of future minimum lease payments is as follows:

| 2025 £ | 2024 £
Not later than one year | 26,157 | 32,585
Later than one year and not later than five years | 87,269 | 42,606
Later than five years | 26,085 | -
| 139,511 | 75,191

Meditech Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025 (continued)

9 | Obligations under leases and hire purchase contracts (continued)

The amount of non-cancellable operating lease payments recognised as an expense during the year was £42,061 (2024 - £42,153).

10 | Related party transactions

Transactions with directors

2025 | At 1 February 2024 £ | Repayments by director £ | At 31 January 2025 £
Mr G P Clowrey
Interest free loan | 55,705 | (75,413) | (19,708)

11 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares of £1 each | 107 | 107 | 107 | 107