ACCOUNTS - Final Accounts preparation

Company Registration Number: 00204227

TAYCARE MEDICAL LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

TAYCARE MEDICAL LIMITED

REGISTERED NUMBER: 00204227

STATEMENT OF FINANCIAL POSITION

AS AT 28 FEBRUARY 2025

	28 February	29 February
	2025	2024
Note	£	£

Fixed assets
Intangible assets	7		100,428		133,904
Tangible assets	8		164,271		142,400
			264,699		276,304
Current assets
Stocks	9	297,640		295,819
Debtors: amounts falling due within one year	10	904,589		1,459,895
Cash at bank and in hand		985,540		576,749
		2,187,769		2,332,463
Creditors: amounts falling due within one year	11	(1,190,677)		(1,426,200)
Net current assets			997,092		906,263
Total assets less current liabilities			1,261,791		1,182,567
Provisions for liabilities
Deferred tax	12	(37,515)		(23,259)
			(37,515)		(23,259)
Net assets			1,224,276		1,159,308

Capital and reserves
Called up share capital	13	950	950
Profit and loss account		1,223,326	1,158,358
		1,224,276	1,159,308

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TAYCARE MEDICAL LIMITED

REGISTERED NUMBER: 00204227

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 28 FEBRUARY 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

P N Taylor

Director

Date: 24 November 2025

The notes on pages 3 to 14 form part of these financial statements.

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TAYCARE MEDICAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

1.	General information

The company is a private company limited by shares incorporated and domiciled in the United Kingdom. The company is a tax resident in the United Kingdom.
The principal activity of Taycare Medical Limited is the supply of orthotic products and services across the United Kingdom and Europe. The company operates from its registered office address of Unit 2, Royds Close, Leeds, LS12 6LL.
These financial statements have been presented in Pound Sterling as this is the currency of the primary
economic environment in which the company operates.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Going concern

The directors believe that the company has adequate resources to continue in operational existence for the forseeable future. The company continues to have the support of the directors and shareholders and therefore continues to adopt the going concern basis of accounting in preparing the financial statements.
In addition, the company has signifcant cash reserves, is in a strong net asset position at the year end and has the continued support of its parent company, Taycare Holdings Limited, which also has a significant cash balance.
In reaching their conclusion, the directors have also prepared forecasts covering a period of 12 months from the year end and, after consideration of all factors, they continue to adopt the going concern basis in preparing the financial statements.

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TAYCARE MEDICAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

2.Accounting policies (continued)

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

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TAYCARE MEDICAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

2.Accounting policies (continued)

2.7

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

The estimated useful lives range as follows:

Computer software

15% - 25% reducing balance

2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method and the reducing balance method.

Depreciation is provided on the following basis:

Plant and machinery	-	15% reducing balance
Motor vehicles	-	25% straight-line and reducing balance
Fixtures and fittings	-	15% - 25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

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TAYCARE MEDICAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

2.Accounting policies (continued)

2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.14

Pensions

Defined contribution pension plan

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 payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

2.15

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

2.16

Interest income

Interest income is recognised in profit or loss using the effective interest method.

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TAYCARE MEDICAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

2.Accounting policies (continued)

2.17

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.18

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2.19

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

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TAYCARE MEDICAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

3.	Judgements in applying accounting policies and key sources of estimation uncertainty

The preparation of these 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.
Judgements and estimates are continually evaluated and are based on historical experiences and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The company makes estimates and assumptions concerning the future. The resulting accounts estimates will be, by definition, seldom equal to the related actual results.
The directors consider the key accounting estimates to be provision for trade debtors, useful life and residual value of tangible fixed assets and provision for obsolete stock.
Provisions for trade debtors are reviewed by the directors on an ongoing basis who use their specific industry knowledge and experience to ensure the correct judgements.
The useful life and residual values of tangible fixed assets are reviewed on an ongoing basis by the directors.
Provisions for obsolete stock are reviewed by the directors on an ongoing basis who use their specific industry knowledge and experience to ensure the correct judgements.

Employees

The average monthly number of employees, including directors, during the year was 83 (2024 - 89).

5.	Taxation

		2025	2024
		£	£

Corporation tax
Current tax on profits for the year	63,455	223,991
Adjustments in respect of previous periods	(4,460)	47
	58,995	224,038

Total current tax	58,995	224,038

Deferred tax
Origination and reversal of timing differences	14,256	(37,331)
Total deferred tax	14,256	(37,331)


	Tax on profit	73,251	186,707

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TAYCARE MEDICAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

5.Taxation (continued)

Factors affecting tax charge for the year
The tax assessed for the year is lower than (2024 - lower than) the standard rate of corporation tax in the UK of 25% (2024 - 24.49%). The differences are explained below:
	2025	2024
	£	£

Profit on ordinary activities before tax

308,900

781,156

Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 24.49%)	77,100	191,305
Effects of:
Expenses not deductible for tax purposes, other than goodwill amortisation and impairment	546	2,820
Adjustments to tax charge in respect of prior periods	(4,460)	47
Super deduction	65	(80)
Other timing differences leading to an increase (decrease) in taxation	-	4,474
Deferred tax recognised	-	(11,330)
Change in rate of taxation	-	(529)
Total tax charge for the year	73,251	186,707

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TAYCARE MEDICAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

5.Taxation (continued)

Factors that may affect future tax charges

There were no factors that may affect future tax charges.

6.	Dividends
		28 February	29 February
		2025	2024
		£	£

	Dividends on equity capital	170,181	301,228
		170,181	301,228

7.	Intangible assets

		Computer software
		£
	Cost
	At 1 March 2024	213,867
	At 28 February 2025	213,867
	Amortisation
	At 1 March 2024	79,963
	Charge for the year on financed assets	33,476
	At 28 February 2025	113,439
	Net book value
	At 28 February 2025	100,428
	At 29 February 2024	133,904

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TAYCARE MEDICAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

8.	Tangible fixed assets

	Plant and machinery	Motor vehicles	Fixtures and fittings	Total
	£	£	£	£
Cost or valuation
At 1 March 2024	348,235	19,763	302,844	670,842
Additions	-	-	55,365	55,365
At 28 February 2025	348,235	19,763	358,209	726,207
Depreciation
At 1 March 2024	237,108	19,763	271,571	528,442
Charge for the year on owned assets	16,669	-	16,825	33,494
At 28 February 2025	253,777	19,763	288,396	561,936
Net book value
At 28 February 2025	94,458	-	69,813	164,271
At 29 February 2024	111,127	-	31,273	142,400

9.	Stocks
		28 February	29 February
		2025	2024
		£	£

Raw materials and consumables	141,935	113,709
Work in progress	155,705	182,110
	297,640	295,819

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TAYCARE MEDICAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

10.

Debtors

					28 February	29 February
					2025	2024
					£	£


Trade debtors	733,224	1,373,486
Other debtors	87,009	51,181
Prepayments and accrued income	84,356	35,228
	904,589	1,459,895

11.	Creditors: Amounts falling due within one year
		28 February	29 February
		2025	2024
		£	£

Bank overdrafts	-	111
Trade creditors	376,927	294,240
Amounts owed to other participating interests	465,083	411,053
Corporation tax	56,005	223,991
Other taxation and social security	191,090	191,170
Other creditors	83,588	190,460
Accruals and deferred income	17,984	115,175
	1,190,677	1,426,200

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TAYCARE MEDICAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

12.	Deferred taxation

	2025	2024
	£	£

At beginning of year	(23,259)	(60,590)
Charged to profit or loss	(14,256)	37,331
At end of year	(37,515)	(23,259)

The provision for deferred taxation is made up as follows:
	28 February	29 February
	2025	2024
	£	£

Accelerated capital allowances	40,101	40,826
Short term timing differences	(2,586)	(17,567)
	37,515	23,259

13.	Share capital
		28 February	29 February
		2025	2024
		£	£

Allotted, called up and fully paid

900 Ordinary shares of £1 each	900	900
10 (2024 - 10) Ordinary B shares of £1 each	10	10
10 (2024 - 10) Ordinary C shares of £1 each	10	10
10 (2024 - 10) Ordinary D shares of £1 each	10	10
10 (2024 - 10) Ordinary E shares of £1 each	10	10
10 (2024 - 10) Ordinary F shares of £1 each	10	10

	950	950

All classes of share capital carry full voting rights and no restriction on the distribution of dividends and the repayment of capital.

14.	Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £339,820 (2024 - £233,844). Contributions totalling £10,343 (2024 - £10,276) were payable to the fund at the reporting date and are included in creditors.

Page 13

TAYCARE MEDICAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

15.

Related party transactions

Included within creditors, amounts falling due within one year, is an amount of £465,083 (2024 - £411,053) due from Taycare Holdings Limited, a company under common control. The balance is interest free and payable on demand.
Management charges of £104,000 (2024 - £104,000) were paid to Taycare Holdings Limited during the year.
Included within creditors, amounts falling due within one year, are amounts due to Directors and their connected parties totalling £63,518 (2024 - £177,576). The balances are interest free and payable on demand.

16.	Controlling party

During the year, the ultimate and immediate parent company Taycare Group Limited (formerly Tayco No1 Limited).
During the year, in the opinion of the directors, there was no single controlling party.

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