MEDINET CLINICAL SERVICES LTD

Company number

09660952

Status

Active

Incorporation

2015-06-29

Last accounts made up

2024-09-30

Account category

FULL

Primary SIC

86900

Hubs

UK Healthcare

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.”

Subsidiaries

• Medinet Scotland Limited · 100% held · 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 / subsidiary information is extracted from the PDF version of the latest annual accounts and is not tagged in iXBRL. About these numbers