Medi-Klenz Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10461236 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2021

FOR

MEDI-KLENZ LTD

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

5

2,012

200

Tangible assets

6

1,533

1,383

3,545

1,583

CURRENT ASSETS

Debtors

7

4,933

3,717

Cash at bank and in hand

17,178

4,819

22,111

8,536

CREDITORS

Amounts falling due within one year

8

4,859

2,867

NET CURRENT ASSETS

17,252

5,669

TOTAL ASSETS LESS CURRENT LIABILITIES

20,797

7,252

CREDITORS

Amounts falling due after more than one year

9

(10,121

)

-

PROVISIONS FOR LIABILITIES

10

(264

)

(233

)

NET ASSETS

10,412

7,019

CAPITAL AND RESERVES

Called up share capital

11

100

100

Retained earnings

10,312

6,919

SHAREHOLDERS' FUNDS

10,412

7,019

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 December 2021 and were signed on its behalf by:

Mrs C A Rickman-Smith - Director

1.	STATUTORY INFORMATION

Medi-Klenz Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

10461236

Registered office:

Pharmacy Chambers

High Street

Wadhurst

East Sussex

TN5 6AP

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

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

Goodwill - over 3 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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Equipment

-

33% on cost

All fixed assets are initially recorded at cost.

Government grants

The entity has adopted the use of the accruals model in respect of grants received.

Any grant that becomes receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs shall be recognised in 'Other income', in the period to which it relates.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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

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 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.

Going concern

The company has prepared these accounts on a going concern basis, however there are material uncertainties in respect of COVID-19 and management have taken into consideration the existing and potential effects of coronavirus on the activities of the business in future.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2020 - 3 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2020

3,002

Additions

3,000

At 31 March 2021

6,002

AMORTISATION

At 1 April 2020

2,802

Charge for year

1,188

At 31 March 2021

3,990

NET BOOK VALUE

At 31 March 2021

2,012

At 31 March 2020

200

6.	TANGIBLE FIXED ASSETS

Plant and

machinery

Equipment

Totals

£

£

£

COST

At 1 April 2020

2,287

-

2,287

Additions

-

741

741

At 31 March 2021

2,287

741

3,028

DEPRECIATION

At 1 April 2020

904

-

904

Charge for year

346

245

591

At 31 March 2021

1,250

245

1,495

NET BOOK VALUE

At 31 March 2021

1,037

496

1,533

At 31 March 2020

1,383

-

1,383

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade debtors

4,220

3,717

Other debtors

622

-

Directors' current accounts

91

-

4,933

3,717

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Bank loans and overdrafts

1,879

-

Corporation tax

1,703

2,024

PAYE and social security

484

-

Other creditors

83

118

Directors' current accounts

-

10

Accruals and deferred income

710

715

4,859

2,867

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.21

31.3.20

£

£

Bank loans - 1-5 years

10,121

-

10.	PROVISIONS FOR LIABILITIES

31.3.21

31.3.20

£

£

Deferred tax

Accelerated capital allowances

264

233

Deferred

tax

£

Balance at 1 April 2020

233

Provided during year

31

Balance at 31 March 2021

264

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.21

31.3.20

value:

£

£

100

Ordinary

£1

100

100

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2021 and 31 March 2020:

31.3.21

31.3.20

£

£

Mr S J Rickman-Smith and Mrs C A Rickman-Smith

Balance outstanding at start of year

(10

)

(775

)

Amounts advanced

101

1,065

Amounts repaid

-

(300

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

91

(10

)