BrightAccountsProduction v1.0.0 v1.0.0 2025-01-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is the distribution of medical diagnostics, the supply of software and the wholesale supply of pharmaceutical products. 10 August 2026 0 0 NI058603 2026-01-31 NI058603 2024-12-31 NI058603 2023-12-31 NI058603 2025-01-01 2026-01-31 NI058603 2024-01-01 2024-12-31 NI058603 uk-bus:PrivateLimitedCompanyLtd 2025-01-01 2026-01-31 NI058603 uk-curr:PoundSterling 2025-01-01 2026-01-31 NI058603 uk-bus:SmallCompaniesRegimeForAccounts 2025-01-01 2026-01-31 NI058603 uk-bus:FullAccounts 2025-01-01 2026-01-31 NI058603 uk-core:ShareCapital 2026-01-31 NI058603 uk-core:ShareCapital 2024-12-31 NI058603 uk-core:RetainedEarningsAccumulatedLosses 2026-01-31 NI058603 uk-core:RetainedEarningsAccumulatedLosses 2024-12-31 NI058603 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2026-01-31 NI058603 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-12-31 NI058603 uk-bus:FRS102 2025-01-01 2026-01-31 NI058603 uk-core:VehiclesPlantMachinery 2025-01-01 2026-01-31 NI058603 uk-core:PlantMachinery 2025-01-01 2026-01-31 NI058603 uk-core:FurnitureFittingsToolsEquipment 2025-01-01 2026-01-31 NI058603 uk-core:MotorVehicles 2025-01-01 2026-01-31 NI058603 uk-core:CurrentFinancialInstruments 2026-01-31 NI058603 uk-core:CurrentFinancialInstruments 2024-12-31 NI058603 uk-core:WithinOneYear 2026-01-31 NI058603 uk-core:WithinOneYear 2024-12-31 NI058603 uk-core:WithinOneYear 2026-01-31 NI058603 uk-core:WithinOneYear 2024-12-31 NI058603 uk-core:AfterOneYear 2026-01-31 NI058603 uk-core:AfterOneYear 2024-12-31 NI058603 uk-core:BetweenOneFiveYears 2026-01-31 NI058603 uk-core:BetweenOneFiveYears 2024-12-31 NI058603 uk-core:OtherMiscellaneousReserve 2024-12-31 NI058603 uk-core:OtherMiscellaneousReserve 2025-01-01 2026-01-31 NI058603 uk-core:AcceleratedTaxDepreciationDeferredTax 2026-01-31 NI058603 uk-core:TaxLossesCarry-forwardsDeferredTax 2026-01-31 NI058603 uk-core:OtherDeferredTax 2026-01-31 NI058603 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2026-01-31 NI058603 uk-core:OtherMiscellaneousReserve 2026-01-31 NI058603 2025-01-01 2026-01-31 NI058603 uk-bus:Director1 2025-01-01 2026-01-31 NI058603 uk-bus:AuditExempt-NoAccountantsReport 2025-01-01 2026-01-31 xbrli:pure iso4217:GBP xbrli:shares

Company Registration Number: NI058603

Medicon Ireland Ltd

Unaudited Financial Statements

for the financial period ended 31 January 2026

Medicon Ireland Ltd

Company Registration Number: NI058603

STATEMENT OF FINANCIAL POSITION

as at 31 January 2026

|  |  | Jan 26 |  | Dec 24
|  | Notes | £ |  | £
Non-Current Assets

Intangible assets |  | 8 | - |  | 28,883
Property, plant and equipment |  | 9 | - |  | 29,962
|  |  | ───────── |  | ─────────
Non-Current Assets |  |  | - |  | 58,845
|  |  | ───────── |  | ─────────
Current Assets

Stocks |  | 10 | - |  | 5,697
Debtors |  | 11 | 1,053,032 |  | 1,002,724
Cash and cash equivalents |  |  | 3,929 |  | 178,317
|  |  | ───────── |  | ─────────
|  |  | 1,056,961 |  | 1,186,738
|  |  | ───────── |  | ─────────
Creditors: amounts falling due within one year |  | 12 | (508,610) |  | (400,083)
|  |  | ───────── |  | ─────────
Net Current Assets |  |  | 548,351 |  | 786,655
|  |  | ───────── |  | ─────────
Total Assets less Current Liabilities |  |  | 548,351 |  | 845,500
Creditors:

amounts falling due after more than one year |  | 13 | - |  | (10,620)
Provisions for liabilities |  | 15 | - |  | (3,189)
|  |  | ───────── |  | ─────────
Net Assets |  |  | 548,351 |  | 831,691
|  |  | ═════════ |  | ═════════
Capital and Reserves

Called up share capital |  |  | 2 |  | 2
Retained earnings |  |  | 548,349 |  | 831,689
|  |  | ───────── |  | ─────────
Equity attributable to owners of the company |  |  | 548,351 |  | 831,691
|  |  | ═════════ |  | ═════════
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).

The company has taken advantage of the exemption under section 444 not to file the Income Statement and Director's Report.

For the financial period ended 31 January 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial period and of its profit and loss for the financial period 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.

Approved by the Director and authorised for issue on 10 August 2026

________________________________ |  |  |  |  |
Mr. Patrick I. McGowan |  |  |  |  |
Director |  |  |  |  |

Medicon Ireland Ltd

NOTES TO THE FINANCIAL STATEMENTS

for the financial period ended 31 January 2026

1. | General Information
| Medicon Ireland Ltd is a company limited by shares incorporated in Northern Ireland. 16 Mount Charles, Belfast, BT7 1NZ is the registered office, 1a/1b, Carnbane Business Park, Newry BT35 6QH is the principal place of business of the company . The nature of the company's operations and its principal activities are set out in the Director's Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.

2. | Summary of Significant Accounting Policies
| The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
| Statement of compliance
| The financial statements of the company for the year ended 31 January 2026 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
| Basis of preparation
| The financial statements have been prepared in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
| Turnover
| Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods falling within the company's ordinary activities.
| Intangible assets
| Intangible assets are valued at cost less accumulated amortisation.
| Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful life of 4 years.
| Property, plant and equipment and depreciation
| Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:
|  | Short leasehold property | - | 2% Straight line
|  | Plant and machinery | - | 15% Straight line
|  | Fixtures, fittings and equipment | - | 25% Reducing balance
|  | Motor vehicles | - | 25% Straight line
| The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
| Leasing and hire purchases
| Property, plant and equipment held under leasing and Hire Purchases arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the Statement of Financial Position at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the Income Statement.
| Leasing
| Rentals payable under operating leases are dealt with in the Income Statement as incurred over the period of the rental agreement.
| Stocks
| Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
| Trade and other debtors
| Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
| Borrowing costs
| Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
| Provisions
| Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
| Trade and other creditors
| Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
| Employee benefits
| The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.
| Taxation and deferred taxation
| Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial period and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
| Foreign currencies
| Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Statement of Financial Position date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Income Statement.
| Ordinary share capital
| The ordinary share capital of the company is presented as equity.

3. | Significant accounting judgements and key sources of estimation uncertainty
| The preparation of financial statements requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. Actual results may differ from these estimates. No judgements were identified that would have a material impact on the companys’ financial statements. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects that period.

4. | Period of financial statements
| The financial statements are for the 13 month period ended 31 January 2026.

5. | Going concern
| The company ceased trading on 31 January 2026. As a result, the financial statements have not been prepared on a going concern basis. The directors have assessed the recoverability of the company's assets and liabilities and have made adjustments where appropriate to reflect their estimated realisable and settlement values. Having undertaken this review, the directors consider that no further material adjustments are required to the amounts included in these financial statements.

6. | Employees
| The average monthly number of employees, including director, during the financial period was 5, (Dec 24 - 6).

7. | Dividends | Jan 26 | Dec 24
|  | £ | £
| Dividends on equity shares:
| Ordinary A - Interim paid | - | 36,743
| Ordinary B - Interim paid | - | 39,558
|  | ───────── | ─────────
|  | - | 76,301
|  | ═════════ | ═════════

8. | Intangible assets
|  |  | Total
|  | £ | £
| Cost
| At 1 January 2025 | 79,200 | 79,200
| Disposals | (79,200) | (79,200)
|  | ───────── | ─────────
| At 31 January 2026 | - | -
|  | ───────── | ─────────
| Amortisation
| At 1 January 2025 | 50,317 | 50,317
| Charge for financial period | 16,944 | 16,944
| On disposals | (67,261) | (67,261)
|  | ───────── | ─────────
| At 31 January 2026 | - | -
|  | ───────── | ─────────
| Net book value
| At 31 January 2026 | - | -
|  | ═════════ | ═════════
| At 31 December 2024 | 28,883 | 28,883
|  | ═════════ | ═════════

9. | Property, plant and equipment
|  | Short | Plant and | Fixtures, | Motor | Total
|  | leasehold | machinery | fittings and | vehicles |
|  | property |  | equipment |  |
|  | £ | £ | £ | £ | £
| Cost or Valuation
| At 1 January 2025 | 89,554 | 4,850 | 153,781 | 21,717 | 269,902
| Disposals | (89,554) | (4,850) | (153,781) | (21,717) | (269,902)
|  | ───────── | ───────── | ───────── | ───────── | ─────────
| At 31 January 2026 | - | - | - | - | -
|  | ───────── | ───────── | ───────── | ───────── | ─────────
| Depreciation
| At 1 January 2025 | 87,180 | 4,382 | 141,856 | 6,522 | 239,940
| Charge for the financial period | 676 | 94 | 2,997 | 5,292 | 9,059
| On disposals | (87,856) | (4,476) | (144,853) | (11,814) | (248,999)
|  | ───────── | ───────── | ───────── | ───────── | ─────────
| At 31 January 2026 | - | - | - | - | -
|  | ───────── | ───────── | ───────── | ───────── | ─────────
| Net book value
| At 31 January 2026 | - | - | - | - | -
|  | ═════════ | ═════════ | ═════════ | ═════════ | ═════════
| At 31 December 2024 | 2,374 | 468 | 11,925 | 15,195 | 29,962
|  | ═════════ | ═════════ | ═════════ | ═════════ | ═════════

10. | Stocks | Jan 26 | Dec 24
|  | £ | £
| Finished goods and goods for resale | - | 5,697
|  | ═════════ | ═════════

11. | Debtors | Jan 26 | Dec 24
|  | £ | £
| Trade debtors | - | 146,551
| Amounts owed by connected parties (Note 16) | 6,278 | 24,188
| Amounts owed by related parties | 1,046,754 | 805,940
| Other debtors | - | 2,401
| Director's current account (Note 17) | - | 2,303
| Taxation (Note 14) | - | 11,472
| Prepayments and accrued income | - | 9,869
|  | ───────── | ─────────
|  | 1,053,032 | 1,002,724
|  | ═════════ | ═════════

12. | Creditors | Jan 26 | Dec 24
| Amounts falling due within one year | £ | £
| Credit Card | 198 | 1,329
| Net obligations under finance leases
| and hire purchase contracts | - | 2,800
| Trade creditors | 387,230 | 361,852
| Amounts owed to related parties (Note 16) | 40,891 | -
| Taxation (Note 14) | 31,333 | 24,558
| Director's current account | 45,108 | -
| Accruals:
| Pension accrual | - | 800
| Other accruals | 3,850 | 8,744
|  | ───────── | ─────────
|  | 508,610 | 400,083
|  | ═════════ | ═════════

13. | Creditors | Jan 26 | Dec 24
| Amounts falling due after more than one year | £ | £
| Finance leases and hire purchase contracts | - | 10,620
|  | ═════════ | ═════════
| Net obligations under finance leases
| and hire purchase contracts
| Repayable within one year | - | 2,800
| Repayable between one and five years | - | 10,620
|  | ───────── | ─────────
|  | - | 13,420
|  | ═════════ | ═════════

14. | Taxation | Jan 26 | Dec 24
|  | £ | £
| Debtors:
| VAT | - | 11,472
|  | ═════════ | ═════════
| Creditors:
| Corporation tax | 20,891 | 20,891
| PAYE / NI | 10,442 | 3,667
|  | ───────── | ─────────
|  | 31,333 | 24,558
|  | ═════════ | ═════════

15. | Provisions for liabilities
| The amounts provided for deferred taxation are analysed below:
|  | Capital | Total | Total
|  | allowances |  |
|  |  | Jan 26 | Dec 24
|  | £ | £ | £
| At financial period start | 3,189 | 3,189 | 2,030
| Charged to profit and loss | - | - | 1,159
| Released during the financial period | (3,189) | (3,189) | -
|  | ───────── | ───────── | ─────────
| At financial period end | - | - | 3,189
|  | ═════════ | ═════════ | ═════════

16. | Related party transactions
|  | Balance | Balance
|  | Jan 26 | Dec 24
|  | £ | £
|  | - | 16,220
|  | 6,278 | 7,968
|  | ───────── | ─────────
|  | 6,278 | 24,188
|  | ═════════ | ═════════
| Net balances with related parties:
|  | Jan 26 | Dec 24
|  | £ | £
| Trading amounts (due from) related parties | (34,372) | (74,828)
|  | ═════════ | ═════════
|  | Jan 26 | Dec 24
|  | £ | £
| Finance amounts (due from) related parties | (971,491) | (731,112)
|  | ═════════ | ═════════

17. | Director's advances, credits and guarantees
| At the year end there was a balance of the director's current account of £nil (2023:£nil)

18. | Controlling interest
| During the year ended 31st December 2024 Mr P. I. McGowan and Mrs O. McGowan controlled the company as joint shareholders.

19. | Events After the End of the Reporting Period
| There have been no significant events affecting the company since the financial period-end.