REGISTERED NUMBER: 06947302 (England and Wales)

MEDICHEM - NORTHOLME LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Dr S S Pillai

J T Vadodaria

REGISTERED OFFICE:

Swillington Pharmacy

Church Lane

Swillington

Leeds

West Yorkshire

LS26 8DY

REGISTERED NUMBER:

06947302 (England and Wales)

ACCOUNTANTS:

SMH Sheards

Vernon House

40 New North Road

Huddersfield

West Yorkshire

HD1 5LS

FIXED ASSETS

Intangible assets

4

-

69,289

Tangible assets

5

167,391

1,518

167,391

70,807

CURRENT ASSETS

Stocks

186,451

95,093

Debtors

6

483,318

364,987

Cash at bank and in hand

121,129

136,602

790,898

596,682

CREDITORS

Amounts falling due within one year

7

(481,104

)

(390,720

)

NET CURRENT ASSETS

309,794

205,962

TOTAL ASSETS LESS CURRENT LIABILITIES

477,185

276,769

CREDITORS

Amounts falling due after more than one year

8

(116,415

)

-

PROVISIONS FOR LIABILITIES

11

(19,624

)

-

NET ASSETS

341,146

276,769

CAPITAL AND RESERVES

Called up share capital

12

600

600

Retained earnings

340,546

276,169

SHAREHOLDERS' FUNDS

341,146

276,769

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 June 2026 and were signed on its behalf by:

J T Vadodaria - Director

Dr S S Pillai - Director

1.	STATUTORY INFORMATION

Medichem - Northolme 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred in respect of the transaction can be measured reliably.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of thirteen years.

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of identifiable assets, liabilities and contingent liabilities of the acquired business.

Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life.

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.

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.

Plant and machinery etc

-

25% on cost, 25% on reducing balance, 20% on cost and 10% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other debtors, amounts owed by group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs.

Financial assets, other than those held at fair value through profit or loss, are assessed for indicators of impairment at each balance sheet date, with any impairment losses being recognised in profit or loss. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed in profit or loss.

Financial liabilities are classified depending on the substance of the contractual arrangements entered into.

Basic financial liabilities, including trade and other creditors, bank loans, finance leases, accruals and amounts owed to group undertakings, are initially recognised at transaction price.

Debt instruments are subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company's contractual obligations are settled.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2024 - 23 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2024

and 30 September 2025

755,865

AMORTISATION

At 1 October 2024

686,576

Charge for year

69,289

At 30 September 2025

755,865

NET BOOK VALUE

At 30 September 2025

-

At 30 September 2024

69,289

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2024

107,364

Additions

185,036

At 30 September 2025

292,400

DEPRECIATION

At 1 October 2024

105,846

Charge for year

19,163

At 30 September 2025

125,009

NET BOOK VALUE

At 30 September 2025

167,391

At 30 September 2024

1,518

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Plant and

machinery

etc

£

COST

Additions

184,500

At 30 September 2025

184,500

DEPRECIATION

Charge for year

18,400

At 30 September 2025

18,400

NET BOOK VALUE

At 30 September 2025

166,100

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

199,419

194,563

Amounts owed by group undertakings

173,770

135,852

Amounts owed by associates

80,188

-

Other debtors

29,941

34,572

483,318

364,987

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

28,648

-

Trade creditors

440,539

295,557

Amounts owed to associates

-

83,248

Taxation and social security

4,295

5,137

Other creditors

7,622

6,778

481,104

390,720

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

116,415

-

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

26,751

-

Between one and five years

47,503

-

In more than five years

351,250

381,250

425,504

381,250

10.	SECURED DEBTS

The company has provided a cross guarantee to the parent company's bank.

11.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

19,624

-

Deferred

tax

£

Provided during year

19,624

Balance at 30 September 2025

19,624

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

300

Ordinary "A"

£1

300

300

300

Ordinary "B"

£1

300

300

600

600

All share types rank pari passu.

13.	RELATED PARTY DISCLOSURES

At the year end, £80,188 (2024 - £83,248) was owed from a company in which a director is also a shareholder and director. The amount is interest free and is repayable on demand.

At the year end, £173,770 (2024 - £135,852) was owed from the parent company.