Medevent Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 04468767 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 June 2023

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

422,437

184,042

CURRENT ASSETS

Stocks

8,500

8,000

Debtors

6

87,150

49,782

Cash at bank and in hand

121,324

113,504

216,974

171,286

CREDITORS

Amounts falling due within one year

7

152,492

96,930

NET CURRENT ASSETS

64,482

74,356

TOTAL ASSETS LESS CURRENT LIABILITIES

486,919

258,398

CREDITORS

Amounts falling due after more than one year

8

(233,768

)

(101,506

)

PROVISIONS FOR LIABILITIES

10

(89,825

)

(23,721

)

NET ASSETS

163,326

133,171

CAPITAL AND RESERVES

Called up share capital

1,333

1,333

Share premium

63,774

63,774

Capital redemption reserve

333

333

Retained earnings

97,886

67,731

SHAREHOLDERS' FUNDS

163,326

133,171

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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 5 January 2024 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 36 (2022 - 42 ) .

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Motor

Computer

property

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 July 2022

19,505

47,777

265,279

7,266

339,827

Additions

10,366

27,345

328,879

2,783

369,373

At 30 June 2023

29,871

75,122

594,158

10,049

709,200

DEPRECIATION

At 1 July 2022

4,850

26,397

121,758

2,780

155,785

Charge for year

3,753

7,309

118,099

1,817

130,978

At 30 June 2023

8,603

33,706

239,857

4,597

286,763

NET BOOK VALUE

At 30 June 2023

21,268

41,416

354,301

5,452

422,437

At 30 June 2022

14,655

21,380

143,521

4,486

184,042

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

Motor

vehicles

£

COST

At 1 July 2022

156,189

Additions

314,629

At 30 June 2023

470,818

DEPRECIATION

At 1 July 2022

52,417

Charge for year

104,600

At 30 June 2023

157,017

NET BOOK VALUE

At 30 June 2023

313,801

At 30 June 2022

103,772

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.23

30.6.22

£

£

Trade debtors

72,075

47,115

Tax

12,408

-

Prepayments

2,667

2,667

87,150

49,782

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.23

30.6.22

£

£

Bank loans and overdrafts

10,000

10,000

Hire purchase contracts

92,315

27,312

Trade creditors

8,870

4,998

Tax

-

25,299

Social security and other taxes

9,411

14,013

VAT

631

2,241

Other creditors

55

53

Directors' current accounts

8,465

8,463

Accrued expenses & prepaid income

22,745

4,551

152,492

96,930

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.23

30.6.22

£

£

Bank loans - 1-2 years

20,000

20,000

Bank loans - 2-5 years

747

10,494

Hire purchase contracts

213,021

71,012

233,768

101,506

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.6.23

30.6.22

£

£

Hire purchase contracts

305,336

98,324

10.	PROVISIONS FOR LIABILITIES

30.6.23

30.6.22

£

£

Deferred tax

89,825

23,721

Deferred

tax

£

Balance at 1 July 2022

23,721

Provided during year

66,104

Balance at 30 June 2023

89,825

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 2023 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

5 January 2024