EDEN MEDICAL (UK) LIMITED

EDEN MEDICAL (UK) LIMITED

EDEN MEDICAL (UK) LIMITED - Company Information

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EDEN MEDICAL (UK) LIMITED

Company Registration Number:
SC345525 (Scotland)

Unaudited abridged accounts for the year ended 31 December 2020

Period of accounts

Start date: 01 January 2020

End date: 31 December 2020

EDEN MEDICAL (UK) LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2020

Balance sheet
Notes

EDEN MEDICAL (UK) LIMITED

Balance sheet

As at 31 December 2020


Notes
2020
2019


£
£
Fixed assets
Tangible assets: 3 33,862 30,103
Total fixed assets: 33,862 30,103
Current assets
Stocks: 302,150 285,264
Debtors:   851,264 722,850
Cash at bank and in hand: 2,254,629 648,592
Total current assets: 3,408,043 1,656,706
Creditors: amounts falling due within one year: 4 (614,005) (332,441)
Net current assets (liabilities): 2,794,038 1,324,265
Total assets less current liabilities: 2,827,900 1,354,368
Provision for liabilities: (6,186) (5,565)
Total net assets (liabilities): 2,821,714 1,348,803
Capital and reserves
Called up share capital: 100,200 100,200
Other reserves: 25,000 25,000
Profit and loss account: 2,696,514 1,223,603
Shareholders funds: 2,821,714 1,348,803

The notes form part of these financial statements

EDEN MEDICAL (UK) LIMITED

Balance sheet statements

For the year ending 31 December 2020 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 16 September 2021
and signed on behalf of the board by:

Name: Simon Krievs
Status: Director

The notes form part of these financial statements

EDEN MEDICAL (UK) LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2020

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is recognised at the fair value of the consideration received or receivable for the sale anddistribution of medical equipment, and is shown net of VAT and other sales related taxes .Revenue from the sale of medical equipment is recognised when the significant risks and rewards ofownership of the goods have passed to the buyer (usually on dispatch of the goods) , the amount ofrevenue can be measured reliably, it is probable that the economic benefits associated with the transactionwill flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measuredreliably.

Tangible fixed assets and depreciation policy

Tangible fixed assets are initially and subsequently measured at cost, net of depreciation and anyimpairment losses.Depreciation is recognised so as to write off the cost of assets less their residual values over their usefullives on the following bases:Leasehold land and buildings 10% straight linePlant and equipment 25% straight lineFixtures and fittings 10% straight lineComputers 33.33% straight lineThe gain or loss arising on the disposal of an asset is determined as the difference between the saleproceeds and the carrying value of the asset, and is credited or charged to profit or loss .

Intangible fixed assets and amortisation policy

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair valueof net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at costless accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finiteuseful life and is amortised on a systematic basis over its expected life, which is 4 years.

Valuation and information policy

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costcomprises direct materials and, where applicable, direct labour costs and those overheads that have beenincurred in bringing the stocks to their present location and condition.At each reporting date, an assessment is made for impairment. Any excess of the carrying amount ofstocks over its estimated selling price less costs to complete and sell is recognised as an impairment lossin profit or loss. Reversals of impairment losses are also recognised in profit or loss.

EDEN MEDICAL (UK) LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2020

2. Employees

2020 2019
Average number of employees during the period 12 12

EDEN MEDICAL (UK) LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2020

3. Tangible Assets

Total
Cost £
At 01 January 2020 41,466
Additions 10,201
At 31 December 2020 51,667
Depreciation
At 01 January 2020 11,363
Charge for year 6,442
At 31 December 2020 17,805
Net book value
At 31 December 2020 33,862
At 31 December 2019 30,103

EDEN MEDICAL (UK) LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2020

4. Creditors: amounts falling due within one year note

Bank loans and overdrafts - 0Trade creditors 466,801Corporation tax 91,091Other taxation and social security 40,281Other creditors 15,832