MEDINET CLINICAL SERVICES LTD

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

• Turnover

  -2%

  £58,416,000 → £57,262,000

• Cash

  -33.6%

  £3,761,000 → £2,496,000

• Net assets

  -62.2%

  £42,703,000 → £16,146,000

• Employees

  +72.2%

  72 → 124

• Operating profit

  -3.1%

  £8,914,000 → £8,640,000

• Profit before tax

  -2.1%

  £8,827,000 → £8,641,000

• Wages

  +61.3%

  £3,173,000 → £5,118,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

PricewaterhouseCoopers LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The Company has net assets of £16,146k (2023: £42,703k). The Company is a subsidiary of Fremja Topco Limited (the "Group"). The Group is financed through bank debt and preference shares, and the Group is profitable at an EBITDA level and cash generative from its operating activities. The Group's board approved forecasts show that it is expected to be profitable at an EBITDA level and cash generative from its operating activities for the foreseeable future and for a period of at least twelve months. The financial covenants contained within the banking arrangements have been tested against the Group's financial forecasts and indicate significant headroom on the covenants. These forecasts provide the directors confidence that the Group does not need to seek any additional funding over the next twelve months, as its forecasts indicate it has sufficient levels of liquidity to realise its assets and discharge its liabilities for at least the next twelve months. The forecasts have also been assessed against what is considered a reasonable downside risk scenario and the adjusted forecast continues to show that the Group has the ability to remain within its committed facilities. In addition, the Directors are in a position to call on the transfer of cash from the Group's trading subsidiaries, for who they are also statutory directors, to this Company to settle liabilities as they fall due. On this basis, the directors have prepared the financial statements on a going concern basis.”

Group structure

1. MEDINET CLINICAL SERVICES LTD · parent
   1. Medinet Scotland Limited 100% · Scotland

Significant events

• “Following several acquisitions completed by its parent, the directors believe that the Company has a platform to increase growth in future with a differentiating, value for money service.”
• “Acquisition and transaction costs included those costs incurred by the Company on its acquisition during 2023 and associated costs of restructuring the business thereafter.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

4

last 12 months

Capital events

0

last 24 months

Officers appointed

1

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.