Kardel Health Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06430605 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2020

for

Kardel Health Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

R Kardel Tabar

SECRETARY:

Mrs M Kardel

REGISTERED OFFICE:

2nd Floor

Grove House

55 Lowlands Road

Harrow

Middlesex

HA1 3AW

REGISTERED NUMBER:

06430605 (England and Wales)

FIXED ASSETS

Intangible assets

4

351,940

387,962

Tangible assets

5

221,811

251,178

573,751

639,140

CURRENT ASSETS

Stocks

31,500

32,000

Debtors

6

180,330

200,337

Cash at bank and in hand

55,469

48,406

267,299

280,743

CREDITORS

Amounts falling due within one year

7

238,791

263,203

NET CURRENT ASSETS

28,508

17,540

TOTAL ASSETS LESS CURRENT LIABILITIES

602,259

656,680

CREDITORS

Amounts falling due after more than one year

8

(556,930

)

(612,028

)

PROVISIONS FOR LIABILITIES

9

(32,060

)

(36,807

)

NET ASSETS

13,269

7,845

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

13,169

7,745

SHAREHOLDERS' FUNDS

13,269

7,845

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 October 2020 and were signed by:

R Kardel Tabar - Director

1.	STATUTORY INFORMATION

Kardel Health 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax

and trade discounts.

Goodwill

Acquired goodwill ist stated at cost less amortisation. Amortisation is calculated on a straight line basis over the

estimated expected useful economic life of the goodwill of 20 years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Tangible fixed assets, other that freehold land, are stated at cost or valuation less depreciation and any provision

for impairment. Depreciation is provided at rates caluclated to write off the cost or valuation of fixed assets, less

their estimated residual value, over their expected useful lives on the following basis:

Improvements to property 5 % Straight line

Plant and machinery 20% Reducing balance

Fixtures and Fittings 20% Reducing balance

Computer equipment 20% Reducing balance

Stocks

Stock are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow

moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

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

The finance element of the rental payment is charge to the profit and loss account on a straight line basis.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

Assets on finance lease and hire purchase

Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and

rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed

asets and depreciated over the shorter of the lease term and their estimated expected useful lives.

Future obligations under such contracts are included in creditors net of the finance charge allocated to future

periods.

Operating leases rentals

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2019 - 17 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2019

and 31 March 2020

720,423

AMORTISATION

At 1 April 2019

332,462

Amortisation for year

36,021

At 31 March 2020

368,483

NET BOOK VALUE

At 31 March 2020

351,940

At 31 March 2019

387,961

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 April 2019

73,283

136,276

397,754

13,527

620,840

Additions

-

13,172

2,345

79

15,596

At 31 March 2020

73,283

149,448

400,099

13,606

636,436

DEPRECIATION

At 1 April 2019

19,812

30,197

315,831

3,821

369,661

Charge for year

3,664

22,626

16,720

1,954

44,964

At 31 March 2020

23,476

52,823

332,551

5,775

414,625

NET BOOK VALUE

At 31 March 2020

49,807

96,625

67,548

7,831

221,811

At 31 March 2019

53,471

106,079

81,923

9,706

251,179

6.

DEBTORS

2020

2019

£

£

Amounts falling due within one year:

Trade debtors

21,486

33,776

Other debtors

12,917

12,917

Directors' current accounts

135,295

142,382

Prepayments and accrued income

7,342

7,556

177,040

196,631

Amounts falling due after more than one year:

Other debtors

3,290

3,706

Aggregate amounts

180,330

200,337

Debtors due more than 1 year include:

£3,290 (2019- £3,706) of finance costs paid re. purchase of the new practice is be written off over 15 years

commencing April 2014 in line with the term of the business loan.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

73,434

74,560

Hire purchase contracts

24,090

39,163

Trade creditors

83,464

116,062

Corporation Tax

39,962

25,373

Social security and other taxes

2,783

2,413

Wages Control Account

14,398

-

NEST Pension

445

382

Accrued expenses

215

5,250

238,791

263,203

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loans - 1-2 years

537,416

568,225

Hire purchase contracts

19,514

43,803

556,930

612,028

Debt due after more that one year:

Loan 1 £162,781 - repayable annual instalments £14,734 commencing August 2008, repayable between one and

five year £46,372 (2019-£44,872), repayable in five years or more £116,409 (2019-£129,578)

Loan 2 £33,067 - repayable annual instalments £8,696 commencing May 2010, repayable between one and five

years £27,434 (2019-£26,120), repayable in five years or more £5,633 (2019-£13,957)

Loan 7 £97,805 - repayable annual instalments £14,249 commencing April 2014, repayable between one and

five years £38,891 (2019-£38,236), repayable in five years or more £58,914 (2019-£69,456)

Loan 8 £177,263- repayable annual instalments £16,013 commencing August 2014, repayable between one and

five years £49,011 (2019-£49,108), repayable in five years or more £128,252 (2019-£140,384)

Loan 11 £nil (2019-£1,700) - repayable annual instalments £6,818 commencing August 2015, repayable between

one and five years £nil (2019-£nil), repayable in five years or more £nil (2019-£nil)

Loan 12 £nil (2019:£8,333) - repayable annual instalments £9,588 commencing April 2018, repayable between

one and five years £nil (2019:£8,333), repayable in five years or more £nil

Loan 13 £nil (2019:£482) - repayable annual instalments £643 commencing January 2018, repayable between

one and five years £nil (2019:£482), repayble in five years or more £nil

Loan 14 £34,000 (2019:£46,000)- repayable annual instalments £14,918 commencing April 2019, repayable

between one and five years £34,000 (2019:£46,000), repayable in five years or more £nil

Loan 15 £32,500 - repayable annual instalments £12,138 commencing June 2019, repayable between one and

five years £32,500, repayable in five years or more £nil

HP Loan 5 £nil (2019:£5,974) repayble annual instalments £18,707 commencing August 2017, repayble between

one and five year £nil (2019:£5,974), repayble in five years or more £nil

HP Loan 6 £nil (2019:£4,256) repayble annual instalments £4,845 commencing March 2018, repayble between

one and five year £nil (2019:£4,256), repayble in five years or more £nil

HP Loan 7 £nil (2019:£5,348) repayble annual instalments £6,089 commencing March 2018, repayble between

one and five year £nil (2019:£5,348), repayable in five years or more £nil

HP Loan 8 £nil (2019:£195) repayble annual instalments £2,412 commencing May 2018, repayble between one

and five year £nil (2019:£195), repayble in five years or more £nil

HP Loan 9 £12,354 (2019:£18,283) repayble annual instalments £6,669 commencing May 2018, repayable

between one and five year £12,354 (2019:£18,283), repayble in five years or more £nil

HP Loan 10 £7,160 (2019:£9,746) repayble annual instalments £2,707 commencing April 2019, repayable

between one and five year £7,160 (2019:£9,746), repayble in five years or more £nil

9.	PROVISIONS FOR LIABILITIES

2020

2019

£

£

Deferred tax

Deferred tax

(4,747

)

(4,152

)

Deferred Tax b/fwd

36,807

40,959

32,060

36,807

Deferred

tax

£

Balance at 1 April 2019

36,807

Provided during year

(4,747

)

Balance at 31 March 2020

32,060

10.	LEASE COMMITMENTS

As at 31 March 2020, the company had annual commitments under non-cancellabe rental agreements as follows:

Land & Buildings

Within one year £35,250 (2019-£40,000)

Between two and five years £nil (2019-£nil)

In more than five years £nil (2019-£nil)

11.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year the company made loans to Dr R Kardel which were not repaid, the amount outstanding as at 31

March 2020 was £135,295 (2019-£142,382).

12.	RELATED PARTY TRANSACTIONS

Material interests of directors

During the year the company paid rent to Dr R Kardel of £35,250 (2019-£40,000). The transactions were made

on a normal trading basis.

13.	ULTIMATE CONTROLLING PARTY

The controlling party is R Kardel Tabar.