Mermaid Medical Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—4

Registered number: 07637052

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		2,022		24,284

			2,022		24,284
CURRENT ASSETS
Stocks	5	22,844		22,771
Debtors	6	929,930		434,113
Cash at bank and in hand		217,951		501,892

		1,170,725		958,776
Creditors: Amounts Falling Due Within One Year	7	(751,120 )		(305,343 )

NET CURRENT ASSETS (LIABILITIES)			419,605		653,433

TOTAL ASSETS LESS CURRENT LIABILITIES			421,627		677,717

NET ASSETS			421,627		677,717

CAPITAL AND RESERVES
Called up share capital	8		10,000		10,000
Profit and Loss Account			411,627		667,717

SHAREHOLDERS' FUNDS			421,627		677,717

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Mermaid Medical Limited

Balance Sheet (continued)

As At 31 December 2025

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Lars Vinther

Director

28/05/2026

The notes on pages 3 to 4 form part of these financial statements.

1. General Information

Mermaid Medical Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07637052 . The registered office is Room No. B1 Maghull Business Centre, 1 Liverpool Road North, Maghull, L31 2HB.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. 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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

2.3. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets is the grant of distribution rights, these rights are amortised to profit and loss account over the estimated economic life of 7 years.

2.4. Stocks and Work in Progress

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2.5. Taxation

The tax expense represents the sum of the tax currently payable.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Current tax for the year is recognised in profit or loss, except it relates to items that are recognised in other comprehensive income or directly in equity, in which case, the current tax is also recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 10 (2024: 9)

4. Intangible Assets

	Other
	£
Cost
As at 1 January 2025	170,000

As at 31 December 2025	170,000

Amortisation
As at 1 January 2025	145,716
Provided during the period	22,262

As at 31 December 2025	167,978

...CONTINUED

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Mermaid Medical Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

Net Book Value
As at 31 December 2025	2,022

As at 1 January 2025	24,284

5. Stocks

	2025	2024
	£	£
Stock	22,844	22,771

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	661,943	418,384
Other debtors	267,987	15,729

	929,930	434,113

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	7,588	4,903
Amounts owed to group undertakings	-	31,814
Other creditors	415,191	7,877
Taxation and social security	328,341	260,749

	751,120	305,343

8. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	10,000	10,000

9. Related Party Transactions

Durng the year ended 31st December 2025 the company bought £3,237,319 of goods & services from Mermaid Medical A/S, Mermaid Medical A/S is wholly owned by Egern Holdings A/S. (2024 £2,588,416).

During the year ended 31st December 2025 the company paid a management fee of £754,139 to Mermaid Medical A/S. (2024 £790,841).

The amount owed to the company by Mermaid Medical A/S at the balance sheet date was £256,707 (2024 amount owed by the company to Mermaid Medical A/S £31,814).

10. Ultimate Controlling Party Not Known

The company is a subsidiary of Egern Holdings A/S. The parent company's registered office and principal place of business is Egernvej 3, 3600 Frederikssund, Denmark.

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