Medex (Group) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07342917 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2019

for

Medex (Group) Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Ms R A Brownrigg

REGISTERED OFFICE:

Botanical Gardens Business Centre

3 Southbourne Road

Sheffield

S10 2QN

REGISTERED NUMBER:

07342917 (England and Wales)

ACCOUNTANTS:

Marshall & Co

Chartered Accountants

& Chartered Tax Advisers

The Bloc

Springfield Way

Anlaby

Kingston upon Hull

East Yorkshire

HU10 6RJ

FIXED ASSETS

Intangible assets

4

76,925

-

Tangible assets

5

712,594

709,400

Investments

6

2

2

789,521

709,402

CURRENT ASSETS

Debtors

7

246,787

179,509

Cash at bank and in hand

3,134

424

249,921

179,933

CREDITORS

Amounts falling due within one year

8

447,240

400,929

NET CURRENT LIABILITIES

(197,319

)

(220,996

)

TOTAL ASSETS LESS CURRENT LIABILITIES

592,202

488,406

CREDITORS

Amounts falling due after more than one year

9

355,220

422,586

NET ASSETS

236,982

65,820

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

236,981

65,819

236,982

65,820

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 29 May 2020 and were signed by:

Ms R A Brownrigg - Director

1.	STATUTORY INFORMATION

Medex (Group) Ltd is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less

any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost and 20% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the

extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

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

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will

be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

Going concern

The company's current liabilities exceed its current assets by £227,646 at the year end. The Director is of the opinion

that the company continues to be a going concern due to the continuing support of the company's major creditors.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2018 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

Additions

76,925

At 31 August 2019

76,925

NET BOOK VALUE

At 31 August 2019

76,925

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 September 2018

709,400

64,463

773,863

Additions

-

4,080

4,080

At 31 August 2019

709,400

68,543

777,943

DEPRECIATION

At 1 September 2018

-

64,463

64,463

Charge for year

-

886

886

At 31 August 2019

-

65,349

65,349

NET BOOK VALUE

At 31 August 2019

709,400

3,194

712,594

At 31 August 2018

709,400

-

709,400

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 September 2018

and 31 August 2019

2

NET BOOK VALUE

At 31 August 2019

2

At 31 August 2018

2

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

99,946

129,869

Other debtors

146,841

49,640

246,787

179,509

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

201,124

173,435

Trade creditors

21,378

56,963

Taxation and social security

4,608

12,409

Other creditors

220,130

158,122

447,240

400,929

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans

355,220

422,586

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

169,960

189,094

10.	RELATED PARTY DISCLOSURES

During the year, total dividends of £50,000 were paid to the director .

At the year end the company owed to Ms R A Brownrigg, the company's sole Director and controlling party, £24,036

(2018 - £86,909). The loan is non-interest bearing and there are no formal terms of repayment.

Cloughfields Cat Hotel Ltd, a subsidiary of Medex (Group) Ltd, is owed £64,871 (2018 - £62,011) at the year end.

The Loan is non-interest bearing and there are no formal terms of repayment.

At the year end the company had a loan from a company under common control totalling £36,454. This loan is

non-interest bearing and there are no formal terms of repayment.

11.	ULTIMATE CONTROLLING PARTY

The controlling party is Ms R A Brownrigg.