MEDINET GROUP LIMITED
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Cash
£2.6M
-31.7% vs 2024
Net assets
-£55M
-67.3% lowest in 3 filed years
Employees
363
+47% vs 2024
Profit before tax
-£21M
-5.9% lowest in 3 filed years
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Negative shareholders' funds
Net assets
3-year trend · vs Industrials median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2025-09-30
| Metric | Trend | 2023-09-30 | 2024-09-30 | 2025-09-30 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | — | £88,252,000 | £98,698,000 | +11.8% | |
| Operating profit | -£2,405,000 | -£1,620,000 | -£2,411,000 | -48.8% | |
| Profit before tax | -£7,881,000 | -£19,486,000 | -£20,627,000 | -5.9% | |
| Net profit | -£7,881,000 | -£21,917,000 | -£22,310,000 | -1.8% | |
| Cash | — | £3,738,000 | £2,553,000 | -31.7% | |
| Total assets less current liabilities | £41,804,000 | £13,682,000 | -£12,237,000 | -189.4% | |
| Net assets | -£7,881,000 | -£33,171,000 | -£55,481,000 | -67.3% | |
| Equity | -£7,881,000 | -£33,171,000 | -£55,481,000 | -67.3% | |
| Average employees | — | 247 | 363 | +47% | |
| Wages | — | £9,757,000 | £13,296,000 | +36.3% | |
| Directors' remuneration | — | £642,000 | £559,000 | -12.9% |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-09-30 | 2024-09-30 | 2025-09-30 |
|---|---|---|---|---|
| Operating margin | — | -1.8% | -2.4% | |
| Net margin | — | -24.8% | -22.6% | |
| Return on capital employed | -5.8% | -11.8% | — | |
| Gearing (liabilities / total assets) | 105.2% | 118.4% | — | |
| Current ratio | 0.27x | 0.14x | 0.15x | |
| Interest cover | -0.44x | -0.09x | -0.13x |
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.
Name history
Renamed 1 time since incorporation
- MEDINET GROUP LIMITED 2024-07-02 → present
- FREMJA BIDCO LIMITED 2023-03-08 → 2024-07-02
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Consolidated group
- Auditor
- PricewaterhouseCoopers LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Group has net liabilities of £55,481k (2024 - £33,171k) The Group and Company 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 forecasts provide the directors with confidence that the Group does not need to seek any additional funding over the next twelve months On this basis, the directors have prepared the financial statements on a going concern basis”
Group structure
- MEDINET GROUP LIMITED · parent
- Medinet Bidco Limited 100%
- Medinet Clinical Services Limited 100%
- Medinet Scotland Limited 100%
- Remedy Healthcare Holdings Limited 100%
- Medinet Solutions Limited 100%
- Medinet Modular Services Limited 100%
- Health Harmonie Limited 100%
- Health Harmonie Projects Limited 100%
- Musgrave House Holdings Ltd 66.67%
- Musgrave Healthcare Limited 66.67%
- Medinet International Holdings Limited 100%
- Medinet Ireland Limited 100%
Significant events
- “On 23 December 2025, the Group renegotiated the terms of the loan facilities outlined in Note 20 The amortisation on the Facility A and Incremental Facility A has been removed, and these loans are now repayable in full on their termination date of 9 May 2029 In addition, the revolving facility available to the Group has been increased to £6,500,000”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
4 active · 4 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| CARNEY, Christopher John | Director | 2023-03-08 | Jan 1984 | British |
| FLANAGAN, Timothy John | Director | 2023-05-09 | Apr 1968 | British |
| THIERRY URQUIJO, Nicolas | Director | 2024-11-10 | Nov 1991 | Spanish |
| ZARMAKOUPIS, Anthony | Director | 2025-04-28 | Apr 1977 | British |
Show 4 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BAILEY, Oliver Roy Edward | Director | 2023-08-24 | 2023-08-24 |
| CHETWOOD, Andrew Knightley | Director | 2023-03-08 | 2023-11-07 |
| FRITH, Alexander William | Director | 2023-05-09 | 2024-05-31 |
| HARTENSTEIN, Felix | Director | 2023-11-29 | 2024-11-10 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Fremja Midco 2 Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2023-03-08 | Active |
Filing timeline
Last 20 of 25 total filings
Material constitutional events — rename, articles re-file, resolution
- 2024-07-02 CERTNM Certificate change of name company PDF
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-06-21 | AA | accounts | Accounts with accounts type full | |
| 2026-04-23 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-12-30 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-06-27 | AA | accounts | Accounts with accounts type full | |
| 2025-04-30 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-04-29 | AP01 | officers | Appoint person director company with name date | |
| 2024-11-22 | AP01 | officers | Appoint person director company with name date | |
| 2024-11-22 | TM01 | officers | Termination director company with name termination date | |
| 2024-07-07 | AA | accounts | Accounts with accounts type full | |
| 2024-07-02 | CERTNM | change-of-name | Certificate change of name company | |
| 2024-06-06 | TM01 | officers | Termination director company with name termination date | |
| 2024-05-23 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-04-11 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-11-29 | AP01 | officers | Appoint person director company with name date | |
| 2023-11-29 | TM01 | officers | Termination director company with name termination date | |
| 2023-11-29 | AA01 | accounts | Change account reference date company previous shortened | |
| 2023-09-04 | TM01 | officers | Termination director company with name termination date | |
| 2023-08-25 | AP01 | officers | Appoint person director company with name date | |
| 2023-08-09 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2023-05-22 | AP01 | officers | Appoint person director company with name date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 3
- Capital events
- 0
- Officers appointed
- 0
- Officers resigned
- 0
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.