Medevent Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 04468767 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 June 2022

for

Medevent Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTORS:

Mrs D M Rattigan

Mr M J Wood

Ms H Powney

SECRETARY:

Mrs D M Rattigan

REGISTERED OFFICE:

Outdoor Industrial Estate

New Hey Road

Oakes

Huddersfield

West Yorkshire

HD3 4BU

REGISTERED NUMBER:

04468767 (England and Wales)

ACCOUNTANTS:

Stirk Lambert & Co

Chartered Accountants

Russell Chambers

61a North Street

Keighley

West Yorkshire

BD21 3DS

FIXED ASSETS

Tangible assets

5

184,042

79,531

CURRENT ASSETS

Stocks

8,000

6,000

Debtors

6

49,782

26,667

Cash at bank and in hand

113,504

104,353

171,286

137,020

CREDITORS

Amounts falling due within one year

7

96,930

65,765

NET CURRENT ASSETS

74,356

71,255

TOTAL ASSETS LESS CURRENT LIABILITIES

258,398

150,786

CREDITORS

Amounts falling due after more than one year

8

(101,506

)

(53,376

)

PROVISIONS FOR LIABILITIES

10

(23,721

)

(5,978

)

NET ASSETS

133,171

91,432

CAPITAL AND RESERVES

Called up share capital

1,333

1,333

Share premium

63,774

63,774

Capital redemption reserve

333

333

Retained earnings

67,731

25,992

SHAREHOLDERS' FUNDS

133,171

91,432

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2022 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 January 2023 and were signed on its behalf by:

Mr M J Wood - Director

1.	STATUTORY INFORMATION

Medevent Limited 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents the amounts received or receivable for goods and services provided to customers, excluding VAT.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 42 (2021 - 17 ) .

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Motor

Computer

property

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 July 2021

2,946

32,955

139,101

4,617

179,619

Additions

16,559

14,822

126,178

2,649

160,208

At 30 June 2022

19,505

47,777

265,279

7,266

339,827

DEPRECIATION

At 1 July 2021

2,263

22,624

73,917

1,284

100,088

Charge for year

2,587

3,773

47,841

1,496

55,697

At 30 June 2022

4,850

26,397

121,758

2,780

155,785

NET BOOK VALUE

At 30 June 2022

14,655

21,380

143,521

4,486

184,042

At 30 June 2021

683

10,331

65,184

3,333

79,531

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 July 2021

38,001

Additions

118,188

At 30 June 2022

156,189

DEPRECIATION

At 1 July 2021

17,826

Charge for year

34,591

At 30 June 2022

52,417

NET BOOK VALUE

At 30 June 2022

103,772

At 30 June 2021

20,175

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.22

30.6.21

£

£

Trade debtors

47,115

26,667

Prepayments

2,667

-

49,782

26,667

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.22

30.6.21

£

£

Bank loans and overdrafts

10,000

10,000

Hire purchase contracts

27,312

8,922

Trade creditors

4,998

3,237

Tax

25,299

31,579

Social security and other taxes

14,013

7,372

VAT

2,241

429

Other creditors

53

-

Directors' current accounts

8,463

1,505

Accrued expenses & prepaid income

4,551

2,721

96,930

65,765

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.22

30.6.21

£

£

Bank loans - 1-2 years

20,000

20,000

Bank loans - 2-5 years

10,494

20,000

Hire purchase contracts

71,012

13,376

101,506

53,376

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.6.22

30.6.21

£

£

Hire purchase contracts

98,324

-

10.	PROVISIONS FOR LIABILITIES

30.6.22

30.6.21

£

£

Deferred tax

23,721

5,978

Deferred

tax

£

Balance at 1 July 2021

5,978

Charge to Statement of Income and Retained Earnings during year

17,743

Balance at 30 June 2022

23,721

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Medevent Limited for the year ended 30 June 2022 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Medevent Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Medevent Limited and state those matters that we have agreed to state to the Board of Directors of Medevent Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Medevent Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Medevent Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Medevent Limited. You consider that Medevent Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Medevent Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Stirk Lambert & Co

Chartered Accountants

Russell Chambers

61a North Street

Keighley

West Yorkshire

BD21 3DS

17 January 2023