Kratos Medical Limited
Kratos Medical Limited
Registered number: 14084646
Unaudited Financial Statements
For The Year Ended 31 March 2024
James Khan
Kratos Medical Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Unaudited Financial Statements
| Contents | |
| Page | |
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| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—4 |
Kratos Medical Limited
Balance Sheet
As At
31 March 2024
Balance Sheet
Registered number:
14084646
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
| 31 March 2024 | 31 March 2023 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Intangible Assets | 4 |
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| Tangible Assets | 5 |
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| CURRENT ASSETS | |||||
| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 6 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 7 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 38,650 | 872 | |||
Kratos Medical Limited
Balance Sheet (continued)
As At
31 March 2024
On behalf of the board
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Director
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The notes on pages 3 to 4 form part of these financial statements.
Kratos Medical Limited
Notes to the Financial Statements
For The Year Ended 31 March 2024
Notes to the Financial Statements
1.
General Information
Kratos Medical Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
14084646
. The registered office is Within Ufit Trident Business Park, Glass Avenue, Cardiff, CF24 5EN.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3.
Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.4.
Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are the Company Website. It is amortised to profit and loss account over its estimated economic life of five years.
2.5.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Plant & Machinery |
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| Computer Equipment |
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2.6.
Taxation
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
3.
Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
Kratos Medical Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2024
4.
Intangible Assets
| Goodwill | Other | Total | |
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| £ | £ | £ | |
| Cost | |||
| As at 1 April 2023 |
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| Additions |
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| As at 31 March 2024 |
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| Amortisation | |||
| As at 1 April 2023 |
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| Provided during the period |
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| As at 31 March 2024 |
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| Net Book Value | |||
| As at 31 March 2024 |
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| As at 1 April 2023 |
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5.
Tangible Assets
| Plant & Machinery | Computer Equipment | Total | |
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| £ | £ | £ | |
| Cost | |||
| As at 1 April 2023 |
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| Additions |
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| As at 31 March 2024 |
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| Depreciation | |||
| As at 1 April 2023 |
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| Provided during the period |
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| As at 31 March 2024 |
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| Net Book Value | |||
| As at 31 March 2024 |
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| As at 1 April 2023 |
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6.
Creditors: Amounts Falling Due Within One Year
| 31 March 2024 | 31 March 2023 | ||
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| Trade creditors |
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| Other creditors | 1,897 | 2,964 | |
| Taxation and social security |
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