ACCOUNTS - Final Accounts

KTHE HEALTHCARE LTD - Company Information

Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-04-01false11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07220146 2022-04-01 2023-03-31 07220146 2021-04-01 2022-03-31 07220146 2023-03-31 07220146 2022-03-31 07220146 c:Director1 2022-04-01 2023-03-31 07220146 d:ComputerEquipment 2022-04-01 2023-03-31 07220146 d:ComputerEquipment 2023-03-31 07220146 d:ComputerEquipment 2022-03-31 07220146 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07220146 d:CurrentFinancialInstruments 2023-03-31 07220146 d:CurrentFinancialInstruments 2022-03-31 07220146 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 07220146 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 07220146 d:ShareCapital 2023-03-31 07220146 d:ShareCapital 2022-03-31 07220146 d:RetainedEarningsAccumulatedLosses 2023-03-31 07220146 d:RetainedEarningsAccumulatedLosses 2022-03-31 07220146 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-03-31 07220146 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-03-31 07220146 d:FinancialAssetsAmortisedCost 2023-03-31 07220146 d:FinancialAssetsAmortisedCost 2022-03-31 07220146 d:FinancialLiabilitiesAmortisedCost 2023-03-31 07220146 d:FinancialLiabilitiesAmortisedCost 2022-03-31 07220146 c:FRS102 2022-04-01 2023-03-31 07220146 c:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 07220146 c:FullAccounts 2022-04-01 2023-03-31 07220146 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 07220146

KTHE HEALTHCARE LTD

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

KTHE HEALTHCARE LTD

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OFKTHE HEALTHCARE LTD
FOR THE YEAR ENDED 31 MARCH 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of KTHE Healthcare Ltd for the year ended 31 March 2023 which comprise the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given to us.

This report is made solely to the director of KTHE Healthcare Ltd in accordance with the terms of our agreement. Our work has been undertaken solely to prepare for your approval the financial statements of KTHE Healthcare Ltd and state those matters that we have agreed to state to him in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than KTHE Healthcare Ltd and its director for our work or for this report.

It is your duty to ensure that KTHE Healthcare Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the Company's assets, liabilities, financial position and profit. You consider that KTHE Healthcare Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of KTHE Healthcare Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Shipleys Tax Planning

15 August 2023

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KTHE HEALTHCARE LTD

REGISTERED NUMBER: 07220146

BALANCE SHEET

AS AT 31 MARCH 2023

		2023		2022
Note		£		£

Fixed assets
Tangible assets	4		276		989
			276		989
Current assets
Debtors: amounts falling due within one year	5	151,327		130,704
Cash at bank and in hand	6	16,917		760
		168,244		131,464
Creditors: amounts falling due within one year	7	(15,499)		(11,701)
Net current assets			152,745		119,763
Total assets less current liabilities			153,021		120,752

Net assets			153,021		120,752

Capital and reserves
Called up share capital	100	100
Profit and loss account	152,921	120,652
	153,021	120,752

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 15 August 2023.

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KTHE HEALTHCARE LTD

REGISTERED NUMBER: 07220146

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2023

Wing Yip Cheung

Director

The notes on pages 4 to 9 form part of these financial statements.

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KTHE HEALTHCARE LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

1.	General information

KTHE Healthcare Ltd is a company domiciled in England & Wales, registration number 07220146. The registered office is Wharf House, Victoria Quays, Wharf Street, Sheffield, S2 5SY.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

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KTHE HEALTHCARE LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment

33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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KTHE HEALTHCARE LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

2.9

Financial instruments (continued)

Financial liabilities

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

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

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KTHE HEALTHCARE LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

4.	Tangible fixed assets

		Computer equipment
		£
	Cost or valuation
	At 1 April 2022	3,463
	Additions	(20)
	At 31 March 2023	3,443
	Depreciation
	At 1 April 2022	2,474
	Charge for the year on owned assets	693
	At 31 March 2023	3,167
	Net book value
	At 31 March 2023	276
	At 31 March 2022	989

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KTHE HEALTHCARE LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

Debtors

					2023	2022
					£	£


Trade debtors	6,328	5,544
Other debtors	144,999	125,160
	151,327	130,704

6.	Cash and cash equivalents
		2023	2022
		£	£

Cash at bank and in hand	16,917	760
	16,917	760

7.	Creditors: Amounts falling due within one year
		2023	2022
		£	£

Corporation tax	12,615	10,260
Other taxation and social security	-	1
Other creditors	4	-
Accruals and deferred income	2,880	1,440
	15,499	11,701

8.	Financial instruments
		2023	2022
		£	£

Financial assets
Financial assets measured at fair value through profit or loss	16,917	760
Financial assets that are debt instruments measured at amortised cost	151,327	-
	168,244	760

	Financial liabilities
	Financial liabilities measured at amortised cost	(2,880)	-

Financial assets measured at fair value through profit or loss comprises of cash at bank and in hand.

Page 8

KTHE HEALTHCARE LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

9.	Related party transactions
	During the year the company loaned WYC Property Development Ltd (a company owned by the director Wing Yip Cheung) £20,000 (2022: £30,000). At the balance sheet date other debtors included £144,998 (2022: £124,998) as amounts owed by WYC Property Development Ltd.

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