K. & H. Medical Limited - Accounts to registrar (filleted) - small 18.2
K. & H. Medical Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2018 |
FOR |
K. & H. MEDICAL LIMITED |
K. & H. MEDICAL LIMITED (REGISTERED NUMBER: 01867373) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2018 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
K. & H. MEDICAL LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2018 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
BUSINESS ADDRESS: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Rae House |
Dane Street |
Bishops Stortford |
Herts |
CM23 3BT |
K. & H. MEDICAL LIMITED (REGISTERED NUMBER: 01867373) |
BALANCE SHEET |
30 APRIL 2018 |
30.4.18 | 30.4.17 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
K. & H. MEDICAL LIMITED (REGISTERED NUMBER: 01867373) |
BALANCE SHEET - continued |
30 APRIL 2018 |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors on |
K. & H. MEDICAL LIMITED (REGISTERED NUMBER: 01867373) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2018 |
1. | STATUTORY INFORMATION |
K. & H. Medical Limited is a |
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. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net invoiced sales of goods and services, excluding value added tax. |
The self certified applications are submitted for the approval of client on the completion of a stage. The uncertified |
applications are based on directors' judgement and subject to client approval. The uncertified applications are based upon |
the expenditures incurred during the year in relation to a contract and its approximate stage of completion. In accordance |
with agreements the customers are entitled to keep a certain amount which is usually a small percentage of the works |
completed as retention. In the light of the matter explained above, management was required to consider whether it was |
appropriate to recognise the revenue from these retentions and uncertified applications in the current period in line with the |
company's general policy of recognising revenue when goods are delivered, or whether it was more appropriate to defer |
recognition until the certificate of no rectification of works required is received and applications have been formally certified. |
In making its judgement, management considered the detailed criteria for the recognition of revenue from the sale of goods |
set out in FRS 102 Section 23 Revenue and, in particular, whether the company had transferred to the buyer the significant |
risks and rewards of ownership of the goods. The directors are satisfied that the significant risks and rewards have been |
transferred and that recognition of the revenue in the current year for the retentions is appropriate. |
Tangible fixed assets |
Plant & equipment | - |
Office equipment | - |
Motor vehicles | - |
Stocks |
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing |
stocks to their present location and condition. |
K. & H. MEDICAL LIMITED (REGISTERED NUMBER: 01867373) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2018 |
3. | ACCOUNTING POLICIES - continued |
Financial instruments |
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the |
instruments. |
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes, in effect, a |
financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of |
interest for a similar debt instrument. |
Debt instruments are subsequently measured at amortised cost. |
Other financial instruments are initially recognised at fair value, unless payment for an asset is deferred upon normal |
business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present |
value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets that are |
measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If |
there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. |
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a |
carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not |
previously been recognised. |
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 |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire |
purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over |
their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the |
future payments is treated as a liability. |
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 pays contributions to both directors' and staff personal pension schemes. The company also pays |
contributions to a company pension scheme on behalf of employees. Contributions payable for the year are charged in the |
profit and loss account. |
K. & H. MEDICAL LIMITED (REGISTERED NUMBER: 01867373) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2018 |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | TANGIBLE FIXED ASSETS |
Plant & | Office | Motor |
equipment | equipment | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 May 2017 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) |
At 30 April 2018 |
DEPRECIATION |
At 1 May 2017 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 30 April 2018 |
NET BOOK VALUE |
At 30 April 2018 |
At 30 April 2017 |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
£ |
COST |
At 1 May 2017 |
Additions |
Transfer to ownership | (9,675 | ) |
At 30 April 2018 |
DEPRECIATION |
At 1 May 2017 |
Charge for year |
Transfer to ownership | (4,687 | ) |
At 30 April 2018 |
NET BOOK VALUE |
At 30 April 2018 |
At 30 April 2017 |
K. & H. MEDICAL LIMITED (REGISTERED NUMBER: 01867373) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2018 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.18 | 30.4.17 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.18 | 30.4.17 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.4.18 | 30.4.17 |
£ | £ |
Hire purchase contracts |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.4.18 | 30.4.17 |
£ | £ |
Bank loans |
Hire purchase contracts | 24,217 | 15,384 |
The hire purchase liabilities are secured by the related assets. |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.4.18 | 30.4.17 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |