Registration number: 02914447

Medalin Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 10

Medalin Limited

Company Information

Directors

Mr M Hoskins Mrs A Hoskins

Registered office

Unit 18 Waterfield Way Burbage Hinckley Leicestershire LE10 3ER

Accountants

Botterill & Co Chartered Certified AccountantsFirst Floor Offices 40 Norwood Beverley East Yorkshire HU17 9EY

Medalin Limited

(Registration number: 02914447)
Balance Sheet as at 31 December 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	10,000	10,000
Tangible assets	5	166,516	217,628
		176,516	227,628
Current assets
Stocks		488,416	442,871
Debtors	6	742,205	987,509
Cash at bank and in hand		91,892	239,816
		1,322,513	1,670,196
Creditors: Amounts falling due within one year	7	(970,669)	(1,332,486)
Net current assets		351,844	337,710
Total assets less current liabilities		528,360	565,338
Creditors: Amounts falling due after more than one year	7	-	(9,909)
Provisions for liabilities		(53,558)	(53,557)
Net assets		474,802	501,872
Capital and reserves
Called up share capital	8	100	100
Retained earnings		474,702	501,772
Shareholders' funds		474,802	501,872

For the financial 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.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 August 2026 and signed on its behalf by:
 

Medalin Limited

(Registration number: 02914447)
Balance Sheet as at 31 December 2025

......................................... Mr M Hoskins Director

Medalin Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit 18 Waterfield Way
Burbage
Hinckley
Leicestershire
LE10 3ER

These financial statements were authorised for issue by the Board on 25 August 2026.

2	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 have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis.

The company continues to have the financial support of the group, its bankers and Mike Hoskins, the ultimate controlling party.

In the post balance sheet period the company has returned to profitability.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Medalin Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, 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 income 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 in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent 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:

Asset class	Depreciation method and rate
Plant and Machinery	25% reducing balance
Motor Vehicles	25% straight line
Furniture, fittings and equipment	25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Medalin Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

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.

Trade 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Medalin Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 9 (2024 - 24).

Medalin Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 January 2025	10,000	10,000
At 31 December 2025	10,000	10,000
Amortisation
Carrying amount
At 31 December 2025	10,000	10,000
At 31 December 2024	10,000	10,000

5	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Other tangible assets £	Total £
Cost or valuation
At 1 January 2025	131,403	12,500	680,789	824,692
Additions	5,674	-	-	5,674
Disposals	-	-	(2,100)	(2,100)
At 31 December 2025	137,077	12,500	678,689	828,266
Depreciation
At 1 January 2025	71,683	10,674	524,707	607,064
Charge for the year	16,348	457	39,071	55,876
Eliminated on disposal	-	-	(1,190)	(1,190)
At 31 December 2025	88,031	11,131	562,588	661,750
Carrying amount
At 31 December 2025	49,046	1,369	116,101	166,516
At 31 December 2024	59,720	1,826	156,082	217,628

6

Debtors

Medalin Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Current	Note	2025 £	2024 £
Trade debtors		487,071	607,985
Amounts owed by related parties		246,150	312,407
Prepayments		5,770	37,625
Other debtors		3,214	29,492
		742,205	987,509

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	365,974	469,116
Trade creditors		194,839	378,362
Amounts owed to group undertakings and undertakings in which the company has a participating interest		245,272	275,171
Taxation and social security		90,832	76,679
Accruals and deferred income		27,766	67,365
Other creditors		45,986	65,793
		970,669	1,332,486

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	9	-	9,909

Securities

Composite Company Unlimited Multilateral Guarantee given by Pretty Legs Holdings Limited, Medalin Limited, Medalin Holdings Limited and CUI International Limited.

First Legal Charge over Freehold Property known as Land and buildings on the, North East side of Crescent Road, Lutterworth

Debenture including Fixed Charge over all present freehold and leasehold property; First Fixed Charge over book and other debts, chattels, goodwill and uncalled capital, both present and future; and First Floating Charge over all assets and undertaking both present and future.
 

8	Share capital

Allotted, called up and fully paid shares

Medalin Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

	2025		2024
	No.	£	No.	£
Ordinary of £1 each	100	100	100	100

9	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	-	9,909

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	9,642	10,000
Bank overdrafts	13	-
Other borrowings	356,319	459,116
	365,974	469,116

10	Parent and ultimate parent undertaking

The company's immediate parent is Pretty Legs Holdings Limited, incorporated in England.

 The ultimate parent is Medalin Holdings Ltd, incorporated in England.

 The ultimate controlling party is Mr Mike Hoskins.