Company Registration number:
Medical Information Technology UK Ltd
for the Year Ended 31 December 2025
Medical Information Technology UK Ltd
Contents
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Company Information |
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Strategic Report |
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Directors' Report |
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Statement of Directors' Responsibilities |
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Independent Auditor's Report |
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Profit and Loss Account |
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Statement of Comprehensive Income |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
Medical Information Technology UK Ltd
Company Information
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Directors |
C L Jackson A Stockigt G Yarwood H Messing T E Saunders J Tresling |
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Company secretary |
A Stockigt |
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Registered office |
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Auditors |
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Medical Information Technology UK Ltd
Strategic Report for the Year Ended 31 December 2025
The directors present their strategic report for the year ended 31 December 2025.
Principal activity
The company’s principal activity is licensing and integrating software and providing related professional services, maintenance and hosting of software solutions for healthcare organisations.
Principal risks and uncertainties
The group’s operations expose it to a variety of risks in the ordinary course of business including foreign exchange risk, regulatory risk, and market risk. The group manages these risks as set out below:
Fair review of the business
Key elements of the company’s business strategies for the future include:
• Deliver sustainable integrated solutions for healthcare providers and patients
• Monitor and lead with digitization efforts under the National Single Patient Record programme
• Strengthen interoperable functionality to meet needs of entire continuum of healthcare community
• Increase community engagement to market the company’s brand and solutions and to contribute to charitable efforts
• Standardisation and expansion of our software cloud offering aligned with global affiliates
• Continue to grow the MEDITECH Expanse software platform installations by adding new customers and migrating existing clients to this platform with the ultimate goal of improving healthcare outcomes
The directors closely monitor the appropriate approach to financing future investment requirements and the ongoing working capital requirements for the company and the ongoing trade. Profit retention is currently a key driver, with the company's net asset position increasing from £7,447,604 to £13,743,873 at the year end.
The company's key financial and other performance indicators during the year were as follows:
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Financial KPIs |
Unit |
2025 |
2024 |
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Turnover |
£ |
33,080,126 |
14,962,075 |
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Profit before tax |
£ |
8,375,485 |
2,210,065 |
Turnover was higher by 121.1% in 2025 as compared with 2024, primarily driven by new client contracts in the UK, with significant implementation milestones achieved during 2025 as well as growth in the hosted infrastructure environments.
Profit before tax was higher by 279% in 2025 as compared with 2024. The 2025 pre-tax profit margin was 25.3% while the 2024 pre-tax profit margin was 14.8%. The higher profit margin is attributable to a higher volume of milestones achieved resulting in higher turnover, combined with cost savings attributed to the stronger Sterling against our extensive US Dollar-denominated supplier costs.
Medical Information Technology UK Ltd
Strategic Report for the Year Ended 31 December 2025
Foreign exchange risk - The company manages its foreign exchange risk, which exists due to a significant portion of supplier expenditures being incurred in foreign currencies, by monitoring currency fluctuations in determining timing of settlement of obligations and by building such risk into its pricing policies.
Regulatory risk - The company operates in an industry partially regulated by the National Health Service (NHS) in its UK market and hence is subject to compliance with its regulations. The company addresses compliance with areas like data privacy, private health information, cyber security, client safety and other requirements for the software used in this local environment. The company obtains ISO, Cyber Essential Plus, and Data Security and Protection (DSP) accreditations and employs a full-time clinical safety officer, all to ensure compliance with existing regulations and to minimize risks. An internal steering group meets periodically to address NHS statutory information standards requirements.
Market risk - The company competes with multiple electronic health record suppliers and professional service firms for procurements in its markets and the competitive nature of the industry can affect the group’s pricing and profitability. The level of available NHS funding dictated by the UK government can also have an economic impact on the group’s ability to generate new business and on its cash flows. The company continues to strive to stay ahead of its competition as it has invested in growing its local personnel and in the interoperability of its software to meet the demand of local markets. The company has a well-regarded reputation in its industry that is used to manage the marketplace risks.
Approved by the Board on
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Medical Information Technology UK Ltd
Directors' Report for the Year Ended 31 December 2025
The directors present their report and the financial statements for the year ended 31 December 2025.
Directors of the company
The directors who held office during the year were as follows:
Financial instruments
Objectives and policies
The Company's principal financial instruments comprise bank balances, trade debtors and trade creditors. The main purpose of these instruments is to maintain funds to finance the Company's operations.
Trade debtors are managed in respect of credit and cash flow by applying appropriate credit limits to customers and through the regular monitoring and seeking settlement of amounts outstanding.
Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet the amounts due.
Disclosure of information to the auditors
Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.
Going concern
These financial statements have been prepared on a going concern basis. The directors, have considered the financial position of the Company for a period of at least twelve months from the date of signing these financial statements, have no reason to believe that a material uncertainty exists that may cast doubt about the ability of the Company to continue as a going concern. Accordingly, the directors have a reasonable expectation that the Company will continue in operational existence and thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Medical Information Technology UK Ltd
Directors' Report for the Year Ended 31 December 2025
Matters covered in the Strategic Report
The mandatory disclosures in relation to the principal risks and uncertainties and the future development of the Company are considered by the Directors to be of strategic importance. These have therefore been included in the Strategic Report.
Approved by the Board on
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Medical Information Technology UK Ltd
Statement of Directors' Responsibilities
The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
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select suitable accounting policies and apply them consistently; |
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make judgements and accounting estimates that are reasonable and prudent; |
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state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Medical Information Technology UK Ltd
Independent Auditor's Report to the Members of Medical Information Technology UK Ltd
Opinion
We have audited the financial statements of Medical Information Technology UK Ltd (the 'company') for the year ended 31 December 2025, which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• | give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its profit for the year then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Medical Information Technology UK Ltd
Independent Auditor's Report to the Members of Medical Information Technology UK Ltd
Other information
The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements. |
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the financial statements are not in agreement with the accounting records and returns; or |
• | certain disclosures of directors' remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page 6, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Medical Information Technology UK Ltd
Independent Auditor's Report to the Members of Medical Information Technology UK Ltd
Auditor Responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
The extent to which the audit was considered capable of detecting irregularities including fraud
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
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the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; |
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we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the software licencing and healthcare sector; |
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we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and employment legislation; |
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we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and |
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identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. |
We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
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making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and |
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considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. |
To address the risk of fraud through management bias and override of controls, we:
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performed analytical procedures to identify any unusual or unexpected relationships; |
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tested journal entries to identify unusual transactions; |
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assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and |
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investigated the rationale behind significant or unusual transactions. |
Medical Information Technology UK Ltd
Independent Auditor's Report to the Members of Medical Information Technology UK Ltd
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
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agreeing financial statement disclosures to underlying supporting documentation; |
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reading the minutes of meetings of those charged with governance; |
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enquiring of management as to actual and potential litigation and claims. |
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
For and on behalf of
Goodwood House
Blackbrook Park Avenue
Somerset
TA1 2PX
Medical Information Technology UK Ltd
Profit and Loss Account
for the Year Ended 31 December 2025
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Note |
2025 |
2024 |
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Turnover |
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Cost of sales |
( |
( |
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Gross profit |
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Administrative expenses |
( |
( |
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Other operating income |
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Operating profit |
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Other interest receivable and similar income |
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Interest payable and similar charges |
( |
- |
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Profit before tax |
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Taxation |
( |
( |
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Profit for the financial year |
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The above results were derived from continuing operations.
Medical Information Technology UK Ltd
Statement of Comprehensive Income
for the Year Ended 31 December 2025
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2025 |
2024 |
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Profit for the year |
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Total comprehensive income for the year |
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Medical Information Technology UK Ltd
(Registration number: 02220263)
Balance Sheet as at 31 December 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
- |
( |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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Approved and authorised by the
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Medical Information Technology UK Ltd
Statement of Changes in Equity
for the Year Ended 31 December 2025
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Share capital |
Retained earnings |
Total |
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At 1 January 2025 |
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Profit for the year |
- |
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At 31 December 2025 |
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Share capital |
Retained earnings |
Total |
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At 1 January 2024 |
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Profit for the year |
- |
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At 31 December 2024 |
1,895,557 |
5,552,047 |
7,447,604 |
Medical Information Technology UK Ltd
Notes to the Financial Statements
for the Year Ended 31 December 2025
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
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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 were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.
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 presented in Sterling (£).
Summary of disclosure exemptions
This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit and loss for the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:
Section 7 'Statement of Cash Flows' - Presentation of a statement of cash flow and related notes and disclosures;
Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instrument Issues' - Carrying amounts, interest income/expense and net gains/losses for each category of financial instrument; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income.
Name of parent of group
These financial statements are consolidated in the financial statements of Medical Information Technology International Limited.
The financial statements of Medical Information Technology International Limited may be obtained from Companies House.
Medical Information Technology UK Ltd
Notes to the Financial Statements
for the Year Ended 31 December 2025
Going concern
The directors assess whether the use of going concern is appropriate, i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern. The directors make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the company has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the company's ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Judgements
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported in the profit and loss account during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgements have had the most significant effect on amounts recognised in the financial statements: |
Revenue recognition policy requires significant estimates of total expected costs and judgement as to stage of completion; |
Trade debtors are reviewed periodically by management for evidence of impairment with reference to the financial position of the counterparty. Where indicators of impairment are identified and it is considered probable that the debt will not be recovered in full, a provision is recognised. As at the year end trade debtors were presented net of a provision of £5,652,585 (2024 - £4,274,365).
Turnover recognition
Revenue is recognised when the company obtains the right to consideration in exchange for its performance. The company generates revenue from the licence of third-party software and the rendering of related services, and provision of ongoing support and hosting following implementation.
For contracts with software and extensive implementations, the contract fee is allocated to each identified deliverable and revenue is recognised with regard to the stage of completion of the contract. The stage of completion of a contract is measured primarily by tracking the progress of specific events by evaluating progress of software delivery, environment build, training, other services, and operational use of the products. Implementation is generally considered necessary for the functionality of the software and thus both software and implementation elements are measured together for progress towards completion.
Revenue from maintenance and hosting arrangements are recognised as the services are performed.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Medical Information Technology UK Ltd
Notes to the Financial Statements
for the Year Ended 31 December 2025
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, 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.
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 on timing differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.
Tangible assets
Tangible assets are stated at cost, less accumulated depreciation and 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:
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Asset class |
Depreciation method and rate |
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Equipment |
3 years straight line |
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.
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.
Medical Information Technology UK Ltd
Notes to the Financial Statements
for the Year Ended 31 December 2025
Creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.
Reserves
Called up share capital represents the nominal value of shares that have been issued.
Profit and loss account includes all current and prior period profits and losses.
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.
Defined contribution pension obligation
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.
The contributions are recognised as an expense in the profit and loss account when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
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Turnover |
The analysis of the company's Turnover for the year from continuing operations is as follows:
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2025 |
2024 |
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Sale of goods |
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Rendering of services |
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Other operating income |
The analysis of the company's other operating income for the year is as follows:
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2025 |
2024 |
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Support charges receivable |
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Medical Information Technology UK Ltd
Notes to the Financial Statements
for the Year Ended 31 December 2025
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Operating profit |
Arrived at after charging/(crediting)
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2025 |
2024 |
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Depreciation expense |
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Foreign exchange (gains)/losses |
( |
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Profit on disposal of property, plant and equipment |
( |
- |
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Other interest receivable and similar income |
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2025 |
2024 |
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Other interest received |
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Interest payable and similar expenses |
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2025 |
2024 |
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Interest expense on other finance liabilities |
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- |
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Staff costs |
The aggregate payroll costs (including directors' remuneration) were as follows:
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2025 |
2024 |
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Wages and salaries |
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Social security costs |
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Other short-term employee benefits |
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Pension costs, defined contribution scheme |
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Other employee expense |
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The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:
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2025 |
2024 |
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Sales and administration |
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Development |
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Implementation |
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Medical Information Technology UK Ltd
Notes to the Financial Statements
for the Year Ended 31 December 2025
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Auditors' remuneration |
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2025 |
2024 |
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Audit of the financial statements |
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Taxation |
Tax charged/(credited) in the profit and loss account
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2025 |
2024 |
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Current taxation |
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UK corporation tax |
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Deferred taxation |
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Arising from origination and reversal of timing differences |
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Tax expense in the income statement |
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The tax on profit before tax for the year is the same as the standard rate of corporation tax in the UK (2024 - the same as the standard rate of corporation tax in the UK) of
The differences are reconciled below:
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2025 |
2024 |
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Profit before tax |
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Corporation tax at standard rate |
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Tax decrease from effect of capital allowances and depreciation |
( |
( |
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Tax increase from other short-term timing differences |
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Effect of expense not deductible in determining taxable profit (tax loss) |
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- |
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Tax decrease arising from group relief |
( |
( |
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Further item of tax (decrease)/increase |
( |
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Total tax charge |
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Medical Information Technology UK Ltd
Notes to the Financial Statements
for the Year Ended 31 December 2025
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Tangible assets |
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Equipment |
Total |
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Cost or valuation |
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At 1 January 2025 |
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Additions |
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Disposals |
( |
( |
|
At 31 December 2025 |
|
|
|
Depreciation |
||
|
At 1 January 2025 |
|
|
|
Charge for the year |
|
|
|
Eliminated on disposal |
( |
( |
|
At 31 December 2025 |
|
|
|
Carrying amount |
||
|
At 31 December 2025 |
|
|
|
At 31 December 2024 |
|
|
|
Debtors |
|
Current |
2025 |
2024 |
|
Trade debtors |
|
|
|
Prepayments |
|
|
|
Gross amount due from customers for contract work |
|
|
|
Amounts owed by group undertakings |
5,501,017 |
5,138,702 |
|
|
|
Amounts owed by group undertakings are repayable on demand, unsecured and interest free.
Medical Information Technology UK Ltd
Notes to the Financial Statements
for the Year Ended 31 December 2025
|
Cash and cash equivalents |
|
2025 |
2024 |
|
|
Cash at bank |
|
|
|
Creditors |
|
Note |
2025 |
2024 |
|
|
Due within one year |
|||
|
Trade creditors |
|
|
|
|
Amounts owed to parent undertakings |
|
|
|
|
Social security and other taxes |
|
|
|
|
Outstanding defined contribution pension costs |
|
|
|
|
Accrued expenses |
|
|
|
|
Corporation tax |
|
|
|
|
|
|
||
|
Due after one year |
|||
|
Other financial liabilities |
- |
|
Amounts due to group undertakings are repayable on demand, unsecured and interest free.
|
Provisions for liabilities |
|
Deferred tax |
Total |
|
|
At 1 January 2025 |
( |
( |
|
Increase (decrease) in existing provisions |
|
|
|
At 31 December 2025 |
( |
( |
|
|
||
Deferred tax
Deferred tax assets and liabilities:
|
2025 |
Asset |
|
Short term timing difference |
|
|
|
|
2024 |
Asset |
|
Short term timing difference |
|
|
|
Medical Information Technology UK Ltd
Notes to the Financial Statements
for the Year Ended 31 December 2025
|
Pension and other schemes |
Defined contribution pension scheme
The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £
Contributions totalling £
|
Share capital |
Allotted, called up and fully paid shares
|
2025 |
2024 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
1,895,557 |
|
1,895,557 |
Rights, preferences and restrictions
|
Ordinary shares have the following rights, preferences and restrictions: |
|
Obligations under leases and hire purchase contracts |
Operating leases
The total of future minimum lease payments is as follows:
|
2025 |
2024 |
|
|
Not later than one year |
|
|
The amount of non-cancellable operating lease payments recognised as an expense during the year was £
|
Related party transactions |
The company has taken advantage of the exemption permitted by section 33 Related party disclosure of the FRS 102 standard, not to provide disclosures of transactions entered into with other wholly owned members of the group.
Summary of transactions with other related parties
Medical Information Technology UK Ltd
Notes to the Financial Statements
for the Year Ended 31 December 2025
The year end balances are captured within trade debtors and trade creditors as relevant.
|
Relationship between entity and parents |
The parent of the largest group in which these financial statements are consolidated is
The address of Medical Information Technology International Limited is: