GENMED.ME LIMITED

Company number

06045647

Status

Active

Incorporation

2007-01-09

Last accounts made up

2024-09-30

Account category

FULL

Primary SIC

64999

Hubs

UK Fintech

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

BDO LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“Subsequent to the year end, a contract with a significant customer was exited by mutual agreement. The contract, which was previously a material source of turnover for the Company, ended on 31 January 2025. At the date of signing this report, the Company continues to carry a significant net amount owed by that former customer of £6,009,930. We are in robust conversations with that former customer as we believe funds are being unreasonably withheld for supplies and services properly delivered while the Company and the customer were in contract. The Company is currently pursuing recovery of this amount through an appropriate resolution process. In assessing the appropriateness of the going concern basis, the directors have prepared detailed cash flow forecasts covering a period of at least 12 months from the date of approval of these financial statements. These forecasts include a range of scenarios, including a severe but plausible downside case that reflects delayed or reduced recovery of the disputed debtor. As part of their assessment, the directors have taken into account options within their control to manage working capital. In addition initial discussions have taken place with the Company's bankers in relation to a possible overdraft arrangement. Based on the current cash flow forecasts, and taking into account available mitigating actions, the directors are satisfied that the Company will have adequate resources to meet its obligations as they fall due for a period of at least 12 months from the date of approval of these financial statements. Accordingly, the financial statements have been prepared on a going concern basis.”

Significant events

• “Subsequent to the year end, a contract with a significant customer was exited by mutual agreement. The contract, which was previously a material source of turnover for the Company, ended on 31 January 2025. At the date of signing these financial statements, the Company continues to carry a significant net amount owed by that former customer of £6,009,930. We are in robust conversations with that former customer as we believe funds are being unreasonably withheld for supplies and services properly delivered while the Company and the customer were in contract. The Company is currently pursuing recovery of this amount through an appropriate resolution process.”

Auditor / going-concern / subsidiary information is extracted from the PDF version of the latest annual accounts and is not tagged in iXBRL. About these numbers