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 2021

for

Medex (Group) Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Ms R A Brownrigg

Ms A Fletcher

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

118,176

118,176

Tangible assets

5

857,203

713,588

Investments

6

2

2

975,381

831,766

CURRENT ASSETS

Debtors

7

205,640

105,277

Cash at bank and in hand

17,306

53,819

222,946

159,096

CREDITORS

Amounts falling due within one year

8

292,495

74,164

NET CURRENT (LIABILITIES)/ASSETS

(69,549

)

84,932

TOTAL ASSETS LESS CURRENT LIABILITIES

905,832

916,698

CREDITORS

Amounts falling due after more than one year

9

769,152

824,240

NET ASSETS

136,680

92,458

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

136,679

92,457

136,680

92,458

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 29 August 2022 and were signed on its behalf 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 five 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2020 - 10 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 September 2020

and 31 August 2021

118,176

NET BOOK VALUE

At 31 August 2021

118,176

At 31 August 2020

118,176

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 September 2020

709,400

71,352

780,752

Additions

82,027

84,352

166,379

At 31 August 2021

791,427

155,704

947,131

DEPRECIATION

At 1 September 2020

-

67,164

67,164

Charge for year

-

22,764

22,764

At 31 August 2021

-

89,928

89,928

NET BOOK VALUE

At 31 August 2021

791,427

65,776

857,203

At 31 August 2020

709,400

4,188

713,588

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 September 2020

and 31 August 2021

2

NET BOOK VALUE

At 31 August 2021

2

At 31 August 2020

2

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

20,135

11,880

Other debtors

185,505

93,397

205,640

105,277

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

34,250

33,762

Hire purchase contracts

30,236

-

Trade creditors

71,656

11,917

Taxation and social security

27,948

20,161

Other creditors

128,405

8,324

292,495

74,164

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

769,152

824,240

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

475,000

582,739

10.	RELATED PARTY DISCLOSURES

During the year, total dividends of £110,750 were paid to the directors .

11.	ULTIMATE CONTROLLING PARTY

The controlling party is Ms R A Brownrigg.