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Registration number: 09358225

Kova Medical Limited

Unaudited Financial Statements

for the Year Ended 31 December 2021

 

Kova Medical Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 5

 

Kova Medical Limited

(Registration number: 09358225)
Balance Sheet as at 31 December 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

4

2,671

795

Current assets

 

Debtors

5

204,965

6,080

Cash at bank and in hand

 

4,567

222,306

 

209,532

228,386

Creditors: Amounts falling due within one year

6

(41,405)

(38,287)

Net current assets

 

168,127

190,099

Total assets less current liabilities

 

170,798

190,894

Provisions for liabilities

(508)

(151)

Net assets

 

170,290

190,743

Capital and reserves

 

Called up share capital

100

100

Retained earnings

170,190

190,643

Shareholders' funds

 

170,290

190,743

For the financial year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

Kova Medical Limited

(Registration number: 09358225)
Balance Sheet as at 31 December 2021

Approved and authorised by the Board on 14 September 2022 and signed on its behalf by:
 

.........................................
Dr N Smith
Director

 

Kova Medical Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
7-9 Macon Court
Crewe
Cheshire
CW1 6EA
UK

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

 

Kova Medical Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

25% reducing balance basis

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2020 - 2).

 

Kova Medical Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2021

3,595

3,595

Additions

2,767

2,767

At 31 December 2021

6,362

6,362

Depreciation

At 1 January 2021

2,800

2,800

Charge for the year

891

891

At 31 December 2021

3,691

3,691

Carrying amount

At 31 December 2021

2,671

2,671

At 31 December 2020

795

795

5

Debtors

Current

Note

2021
£

2020
£

Trade debtors

 

4,800

6,080

Amounts owed by related parties

199,413

-

Other debtors

 

752

-

   

204,965

6,080

6

Creditors

Creditors: amounts falling due within one year

2021
£

2020
£

Due within one year

Other creditors

41,405

38,287