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REGISTERED NUMBER: 04065406 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2025

for

Sheffmed Limited

| Sheffmed Limited (Registered number: 04065406) |

Contents of the Financial Statements

for the Year Ended 31 August 2025

Page |

| Company Information | 1 |

| Statement of Financial Position | 2 |

| Notes to the Financial Statements | 4 |

| Sheffmed Limited |

Company Information

for the Year Ended 31 August 2025

| DIRECTORS: | Mr A McNulty

| Mrs S T Hobson

| SECRETARY: | Mr A McNulty

| REGISTERED OFFICE: | Unit 4 Coggin Mill Way

| Centurion Business Park

| Bessemer Way

| Rotherham

| S60 1FB

| REGISTERED NUMBER: | 04065406 (England and Wales)

| ACCOUNTANTS: | SMH Reed Smith Ltd

| Copia House

| Great Cliffe Court

| Great Cliffe Road

| Barnsley

| S75 3SP

| BANKERS: | Lloyds Bank Plc

| 1 High Street

| Sheffield

| S1 2GA

| Sheffmed Limited (Registered number: 04065406) |

Statement of Financial Position

31 August 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 4 | 14,667 |  | - |  |

Property, plant and equipment | 5 | 300,915 |  | 307,748 |  |

315,582 |  | 307,748 |  |

CURRENT ASSETS

Inventories | 1,158,302 |  | 1,174,692 |  |

Debtors | 6 | 842,972 |  | 930,601 |  |

Cash at bank and in hand | 921,552 |  | 1,291,310 |  |

2,922,826 |  | 3,396,603 |  |

CREDITORS

Amounts falling due within one year | 7 | 939,932 |  | 991,207 |  |

NET CURRENT ASSETS | 1,982,894 |  | 2,405,396 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 2,298,476 |  | 2,713,144 |  |

CREDITORS

Amounts falling due after more than one year | 8 | (41,007 | ) | (52,863 | ) |

PROVISIONS FOR LIABILITIES | (37,128 | ) | (43,406 | ) |

NET ASSETS | 2,220,341 |  | 2,616,875 |  |

CAPITAL AND RESERVES

Called up share capital | 4 |  | 4 |  |

Retained earnings | 2,220,337 |  | 2,616,871 |  |

SHAREHOLDERS' FUNDS | 2,220,341 |  | 2,616,875 |  |

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

| Sheffmed Limited (Registered number: 04065406) |

Statement of Financial Position - continued

31 August 2025

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 4 March 2026 and were signed on its behalf by:

Mr A McNulty - Director

Mrs S T Hobson - Director

| Sheffmed Limited (Registered number: 04065406) |

Notes to the Financial Statements

for the Year Ended 31 August 2025

1. | STATUTORY INFORMATION

| Sheffmed 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

| Revenue 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 2021, is being amortised evenly over its estimated useful life of three 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.

| Computer software is being amortised evenly over its estimated useful life of three years.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

| Freehold property and improvements to leasehold property | - | 10% on cost

| Plant and machinery etc | - | 33% on cost, 25% on cost, 20% on cost, 20% on reducing balance, 10% on cost and Straight line over 7 years

| Stocks

| Inventories 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 statement of financial position date.

| Sheffmed Limited (Registered number: 04065406) |

Notes to the Financial Statements - continued

for the Year Ended 31 August 2025

2. | ACCOUNTING POLICIES - continued

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

| Research and development

| Expenditure on research and development is written off in the year in which it is incurred.

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

| Hire purchase and leasing commitments

| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

| 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.

| Employee benefits

| Short-term employee benefits are recognised as an expense in the period in which they are incurred.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 18 (2024 - 17 ) .

| Sheffmed Limited (Registered number: 04065406) |

Notes to the Financial Statements - continued

for the Year Ended 31 August 2025

4. | INTANGIBLE FIXED ASSETS

| Other |

| intangible |

| Goodwill |  | assets |  | Totals

£ | £ | £ |

| COST

| At 1 September 2024 | 6 |  | - |  | 6 |  |

| Additions | - |  | 22,000 |  | 22,000 |  |

| At 31 August 2025 | 6 |  | 22,000 |  | 22,006 |  |

| AMORTISATION

| At 1 September 2024 | 6 |  | - |  | 6 |  |

| Charge for year | - |  | 7,333 |  | 7,333 |  |

| At 31 August 2025 | 6 |  | 7,333 |  | 7,339 |  |

| NET BOOK VALUE

| At 31 August 2025 | - |  | 14,667 |  | 14,667 |  |

| At 31 August 2024 | - |  | - |  | - |  |

5. | PROPERTY, PLANT AND EQUIPMENT

| Freehold |

| property |

| and |

| improvements |

| to |  | Plant and |

| leasehold |  | machinery |

| property |  | etc |  | Totals

£ | £ | £ |

| COST

| At 1 September 2024 | 113,624 |  | 695,066 |  | 808,690 |  |

| Additions | 19,468 |  | 76,825 |  | 96,293 |  |

| At 31 August 2025 | 133,092 |  | 771,891 |  | 904,983 |  |

| DEPRECIATION

| At 1 September 2024 | 11,364 |  | 489,578 |  | 500,942 |  |

| Charge for year | 13,311 |  | 89,815 |  | 103,126 |  |

| At 31 August 2025 | 24,675 |  | 579,393 |  | 604,068 |  |

| NET BOOK VALUE

| At 31 August 2025 | 108,417 |  | 192,498 |  | 300,915 |  |

| At 31 August 2024 | 102,260 |  | 205,488 |  | 307,748 |  |

| Sheffmed Limited (Registered number: 04065406) |

Notes to the Financial Statements - continued

for the Year Ended 31 August 2025

5. | PROPERTY, PLANT AND EQUIPMENT - continued

| Fixed assets, included in the above, which are held under finance leases are as follows:

| Plant and

| machinery

| etc

£ |

| COST

| At 1 September 2024

| and 31 August 2025 | 49,625 |  |

| DEPRECIATION

| At 1 September 2024 | 11,486 |  |

| Charge for year | 7,867 |  |

| At 31 August 2025 | 19,353 |  |

| NET BOOK VALUE

| At 31 August 2025 | 30,272 |  |

| At 31 August 2024 | 38,139 |  |

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade debtors | 701,436 |  | 691,402 |  |

| Amounts owed by group undertakings | 66,459 |  | 2,192 |  |

| Other debtors | 75,077 |  | 237,007 |  |

842,972 |  | 930,601 |  |

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Finance leases (see note 9) | 11,856 |  | 10,931 |  |

| Trade creditors | 594,203 |  | 658,734 |  |

| Taxation and social security | 259,241 |  | 175,198 |  |

| Other creditors | 74,632 |  | 146,344 |  |

939,932 |  | 991,207 |  |

8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2025 | 2024 |

£ | £ |

| Finance leases (see note 9) | 41,007 |  | 52,863 |  |

| Amounts falling due in more than five years:

| Repayable by instalments

| Finance leases | - |  | 3,105 |  |

| Sheffmed Limited (Registered number: 04065406) |

Notes to the Financial Statements - continued

for the Year Ended 31 August 2025

9. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Finance leases |

2025 | 2024 |

£ | £ |

| Net obligations repayable:

| Within one year | 11,856 |  | 10,931 |  |

| Between one and five years | 41,007 |  | 49,758 |  |

| In more than five years | - |  | 3,105 |  |

52,863 |  | 63,794 |  |

| Non-cancellable |

| operating leases |

2025 | 2024 |

£ | £ |

| Within one year | 10,570 |  | 24,874 |  |

| Between one and five years | 8,178 |  | 18,748 |  |

18,748 |  | 43,622 |  |

10. | SECURED DEBTS

| The following secured debts are included within creditors:

2025 | 2024 |

£ | £ |

| Finance leases | 52,863 |  | 63,794 |  |

| The finance leases are secured against the items of plant and machinery to which they relate.

11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

| The following advances and credits to a director subsisted during the years ended 31 August 2025 and 31 August 2024:

2025 | 2024 |

£ | £ |

| Mr A McNulty

| Balance outstanding at start of year | 185,152 |  | - |  |

| Amounts advanced | - |  | 185,152 |  |

| Amounts repaid | (185,152 | ) | - |  |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | - |  | 185,152 |  |

| The advance is interest free and repayable on demand.

| Sheffmed Limited (Registered number: 04065406) |

Notes to the Financial Statements - continued

for the Year Ended 31 August 2025

12. | ULTIMATE CONTROLLING PARTY

| On 29 April 2025 the Blossom Employee Ownership Trust became the beneficial owner of 100% of the ordinary share capital of Sheffmed Holdings Limited. Sheffmed Holdings Limited own 100% of the shares in Sheffmed Limited. The shares in Sheffmed Holdings Limited are held by Blossom EOT Limited in its capacity as corporate trustee.