K. & H. Medical Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01867373 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2019

FOR

K. & H. MEDICAL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M L Harvey

L M Harvey

N Gibbs

SECRETARY:

M L Harvey

REGISTERED OFFICE:

Rae House

Dane Street

Bishops Stortford

Herts

CM23 3BT

BUSINESS ADDRESS:

Unit 25

M11 Business Link

Parsonage Lane

Stansted

Essex

CM24 8GF

REGISTERED NUMBER:

01867373 (England and Wales)

ACCOUNTANTS:

Barrow LLP

Rae House

Dane Street

Bishops Stortford

Herts

CM23 3BT

FIXED ASSETS

Tangible assets

5

215,026

120,991

CURRENT ASSETS

Stocks

239,961

219,135

Debtors

6

1,001,060

1,121,512

Cash at bank and in hand

1,366,104

1,040,600

2,607,125

2,381,247

CREDITORS

Amounts falling due within one year

7

(1,014,491

)

(883,427

)

NET CURRENT ASSETS

1,592,634

1,497,820

TOTAL ASSETS LESS CURRENT LIABILITIES

1,807,660

1,618,811

CREDITORS

Amounts falling due after more than one year

8

(49,554

)

(13,100

)

PROVISIONS FOR LIABILITIES

(32,271

)

(12,455

)

NET ASSETS

1,725,835

1,593,256

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

1,725,735

1,593,156

SHAREHOLDERS' FUNDS

1,725,835

1,593,256

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit & Loss Account and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 5 November 2019 and were signed on its behalf by:

M L Harvey - Director

1.	STATUTORY INFORMATION

K. & H. Medical Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

The self certified applications are submitted for the approval of client on the completion of a stage. The uncertified

applications are based on directors' judgement and subject to client approval. The uncertified applications are based upon

the expenditures incurred during the year in relation to a contract and its approximate stage of completion. In accordance

with agreements the customers are entitled to keep a certain amount which is usually a small percentage of the works

completed as retention. In the light of the matter explained above, management was required to consider whether it was

appropriate to recognise the revenue from these retentions and uncertified applications in the current period in line with the

company's general policy of recognising revenue when goods are delivered, or whether it was more appropriate to defer

recognition until the certificate of no rectification of works required is received and applications have been formally certified.

In making its judgement, management considered the detailed criteria for the recognition of revenue from the sale of goods

set out in FRS 102 Section 23 Revenue and, in particular, whether the company had transferred to the buyer the significant

risks and rewards of ownership of the goods. The directors are satisfied that the significant risks and rewards have been

transferred and that recognition of the revenue in the current year for the retentions is appropriate.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant & equipment

-

25% on cost

Office equipment

-

25% on cost

Motor vehicles

-

25% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing

stocks to their present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the

instruments.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes, in effect, a

financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of

interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Other financial instruments are initially recognised at fair value, unless payment for an asset is deferred upon normal

business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present

value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets that are

measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If

there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a

carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not

previously been recognised.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent

that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively

enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet

date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in

which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been

enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be

recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire

purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over

their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the

future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company pays contributions to both directors' and staff personal pension schemes. The company also pays

contributions to a company pension scheme on behalf of employees. Contributions payable for the year are charged in the

profit and loss account.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2018 - 35 ) .

5.	TANGIBLE FIXED ASSETS

Plant &

Office

Motor

equipment

equipment

vehicles

Totals

£

£

£

£

COST

At 1 May 2018

35,267

121,501

185,944

342,712

Additions

-

2,401

176,954

179,355

Disposals

-

(20,063

)

(67,725

)

(87,788

)

At 30 April 2019

35,267

103,839

295,173

434,279

DEPRECIATION

At 1 May 2018

33,668

89,911

98,142

221,721

Charge for year

1,050

18,720

46,688

66,458

Eliminated on disposal

-

(20,063

)

(48,863

)

(68,926

)

At 30 April 2019

34,718

88,568

95,967

219,253

NET BOOK VALUE

At 30 April 2019

549

15,271

199,206

215,026

At 30 April 2018

1,599

31,590

87,802

120,991

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 May 2018

42,123

Additions

96,460

Transfer to ownership

(9,675

)

At 30 April 2019

128,908

DEPRECIATION

At 1 May 2018

10,874

Charge for year

17,599

Transfer to ownership

(5,253

)

At 30 April 2019

23,220

NET BOOK VALUE

At 30 April 2019

105,688

At 30 April 2018

31,249

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.19

30.4.18

£

£

Trade debtors

972,242

1,068,506

Other debtors

28,818

53,006

1,001,060

1,121,512

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.19

30.4.18

£

£

Hire purchase contracts

37,256

11,117

Trade creditors

558,844

515,229

Taxation and social security

235,950

242,932

Other creditors

182,441

114,149

1,014,491

883,427

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.19

30.4.18

£

£

Hire purchase contracts

49,554

13,100

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.4.19

30.4.18

£

£

Hire purchase contracts

86,810

24,217

The hire purchase liabilities are secured by the related assets.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.19

30.4.18

value:

£

£

100

Ordinary

£1

100

100