Keltone Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 01978837 (England and Wales)

Keltone Limited

Financial Statements For The Year Ended 31st March 2023

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

5

DIRECTORS:

Mrs S K Hanspaul

S Salas Cintora

REGISTERED OFFICE:

2 Seedfield Close

Northampton

NN3 3PA

REGISTERED NUMBER:

01978837 (England and Wales)

AUDITORS:

Cheney & Co

Statutory Auditor

310 Wellingborough Road

Northampton

NN1 4EP

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

65,195

71,292

65,195

71,292

CURRENT ASSETS

Stocks

64,264

69,301

Debtors

6

129,780

134,980

Cash at bank and in hand

249,523

207,213

443,567

411,494

CREDITORS

Amounts falling due within one year

7

176,601

198,256

NET CURRENT ASSETS

266,966

213,238

TOTAL ASSETS LESS CURRENT LIABILITIES

332,161

284,530

PROVISIONS FOR LIABILITIES

16,150

17,600

NET ASSETS

316,011

266,930

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

315,011

265,930

316,011

266,930

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20th December 2023 and were signed on its behalf by:

Mrs S K Hanspaul - Director

1.	STATUTORY INFORMATION

Keltone 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.	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

The turnover of the company comprises sums receivable for the sale of pharmaceutical products . This includes receipts from the NHS and from private individuals for prescriptions of medicines and beauty and cosmetics products .

Goodwill

The goodwill of the pharmacy was acquired on 30.06.1986. It was amortised over 25 years at 4% per annum straight line until it was fully amortised by 30.06.2011.

Tangible fixed assets

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

Motor vehicles and fixtures & fittings are depreciated over 3 years straight line. Plant and equipment is depreciated over 5 years straight line from commissioning date.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company's financial statements only include stock , debtors and creditors all of which are current items due to be converted into or,to be paid off by, bank balance monetary resources within a year of the reporting date . They are all recorded at transaction value of historical cost for stock and creditors or sales invoice value for debtors .The income of the company is via the NHS or counter sales , mainly by credit card, which are not subject to impairment. The transactions are all in UK sterling and there are no foreign currency conversion differences.The tangible fixed assets are included at transactional price .

The company's financial instruments are all considered to be of a basic nature.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 14 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st April 2022

and 31st March 2023

34,000

AMORTISATION

At 1st April 2022

and 31st March 2023

34,000

NET BOOK VALUE

At 31st March 2023

-

At 31st March 2022

-

The goodwill was acquired on 30th June 1986 and was amortised over 25 years at 4% per annum straight line until it was fully amortised by 30th June 2011.

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st April 2022

108,487

Additions

500

At 31st March 2023

108,987

DEPRECIATION

At 1st April 2022

37,195

Charge for year

6,597

At 31st March 2023

43,792

NET BOOK VALUE

At 31st March 2023

65,195

At 31st March 2022

71,292

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

97,753

90,798

Amounts owed by group undertakings

6,000

6,000

Other debtors

-

872

VAT

22,336

36,222

Prepayments and accrued income

3,691

1,088

129,780

134,980

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

144,919

181,495

Tax

12,618

7,720

Social security and other taxes

5,058

3,391

Other creditors

3,312

-

Accrued expenses

10,694

5,650

176,601

198,256

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Paul Cummings ACA (Senior Statutory Auditor)

for and on behalf of Cheney & Co

9.	CONTINGENT LIABILITIES

There were no contingent liabilities as at 31st March 2023 or 31st March 2022.

10.	CAPITAL COMMITMENTS

There were no capital commitments as at 31st March 2023 or 31st March 2022.

11.	ULTIMATE CONTROLLING PARTY

The controlling party is Adara Group Limited.

The ultimate controlling party is Mrs S K Hanspaul.

The company's parent undertaking is Adara Group Limited, incorporated in England and Wales. The registered office address of Adara Group Limited is 2 Seedfield Close, Northampton, NN3 3PA. Group Consolidated Financial Statements are available upon request from Companies House, Crown Way, Cardiff, CF14 3UZ. The ultimate controlling party is Mrs. S. K. Hanspaul, a director of Adara Group Limited.