KIBS Pain Solutions Limited Filleted accounts for Companies House (small and micro)

KIBS PAIN SOLUTIONS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 07227426

KIBS Pain Solutions Limited

Filleted Unaudited Financial Statements

30 April 2019

KIBS Pain Solutions Limited

Financial Statements

Year ended 30 April 2019

Contents	Page

Accountants report to the board of directors on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2

Notes to the financial statements	4

KIBS Pain Solutions Limited

Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of KIBS Pain Solutions Limited

Year ended 30 April 2019

As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 30 April 2019, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

BURLINSON SHAW & CO Accountants

21 Henrietta Street Batley West Yorkshire WF17 5DN

24 January 2020

KIBS Pain Solutions Limited

Statement of Financial Position

30 April 2019

	2019		2018
Note	£	£	£

Fixed assets

Tangible assets	5	4,078	5,317
Investments	6	100,922	40,000
		---------	--------
		105,000	45,317

Current assets

Debtors	7	42,436	6,849
Cash at bank and in hand		208,630	275,601
		---------	---------
		251,066	282,450

Creditors: amounts falling due within one year	8	36,838		31,573
		---------		---------
Net current assets			214,228	250,877
			---------	---------
Total assets less current liabilities			319,228	296,194

Provisions

Taxation including deferred tax	775	1,010
	---------	---------
Net assets	318,453	295,184
	---------	---------

KIBS Pain Solutions Limited

Statement of Financial Position (continued)

30 April 2019

	2019		2018
Note	£	£	£

Capital and reserves

Called up share capital	2	2
Profit and loss account	318,451	295,182
	---------	---------
Shareholders funds	318,453	295,184
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 April 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 24 January 2020 , and are signed on behalf of the board by:

Dr G Baranidharan
Director

Company registration number: 07227426

KIBS Pain Solutions Limited

Notes to the Financial Statements

Year ended 30 April 2019

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Grange, 115 Wigton Lane, Leeds, West Yorkshire, LS17 8SH.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Equipment	-	20% reducing balance
Motor vehicles	-	25% reducing balance

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 4 (2018: 4 ).

5. Tangible assets

	Fixtures and fittings	Motor vehicles	Total
	£	£	£
Cost
At 1 May 2018 and 30 April 2019	4,272	14,760	19,032
	-------	--------	--------
Depreciation
At 1 May 2018	2,458	11,257	13,715
Charge for the year	363	876	1,239
	-------	--------	--------
At 30 April 2019	2,821	12,133	14,954
	-------	--------	--------
Carrying amount
At 30 April 2019	1,451	2,627	4,078
	-------	--------	--------
At 30 April 2018	1,814	3,503	5,317
	-------	--------	--------

6. Investments

	Other investments other than loans
	£
Cost
At 1 May 2018	40,000
Additions	60,922
	---------
At 30 April 2019	100,922
	---------
Impairment
At 1 May 2018 and 30 April 2019	–
	---------

Carrying amount
At 30 April 2019	100,922
	---------
At 30 April 2018	40,000
	---------

7. Debtors

	2019	2018
	£	£
Trade debtors	11,939	6,364
Other debtors	30,497	485
	--------	-------
	42,436	6,849
	--------	-------

8. Creditors: amounts falling due within one year

	2019	2018
	£	£
Trade creditors	224	1,216
Corporation tax	29,928	24,513
Social security and other taxes	331	424
Other creditors	6,355	5,420
	--------	--------
	36,838	31,573
	--------	--------