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Registration number: 06661611

Dr B K Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Dr B K Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Dr B K Limited

(Registration number: 06661611)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

7,346

9,795

Current assets

 

Stocks

5

24,083

30,969

Debtors

6

357,487

369,580

Cash at bank and in hand

 

668,452

677,669

 

1,050,022

1,078,218

Creditors: Amounts falling due within one year

7

(409,194)

(483,647)

Net current assets

 

640,828

594,571

Total assets less current liabilities

 

648,174

604,366

Creditors: Amounts falling due after more than one year

7

(26,612)

(36,461)

Net assets

 

621,562

567,905

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

621,462

567,805

Total equity

 

621,562

567,905

 

Dr B K Limited

(Registration number: 06661611)
Balance Sheet as at 31 March 2023

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
 

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

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.

Approved and authorised by the Board on 24 October 2023 and signed on its behalf by:
 


Mrs S Khanna
Director


Dr R Khanna
Director

 
     
 

Dr B K Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

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:
Winchester House
Deane Gate Avenue
Taunton
Somerset
TA1 2UH
UK

The principal place of business is:
115 Queen's Rd
Reading
Berkshire
RG1 4DA
UK

These financial statements were authorised for issue by the Board on 24 October 2023.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Government grants

Government grants are accrued on a systematic basis over the period that the related costs have been recognised. Where the costs have already been incurred then government grants are credited to the Profit and Loss Account in full. £nil (2022: £1,565) of government grants have been credited to the Profit and Loss Account during the year in relation to covid support.

 

Dr B K Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Tax

The tax expense for the period comprises current 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.

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

Fixtures, fittings and equipment

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Dr B K Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 11 (2022 - 11).

 

Dr B K Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Tangible assets

Fixtures, fittings and equipment
£

Total
£

Cost

At 1 April 2022

45,113

45,113

At 31 March 2023

45,113

45,113

Depreciation

At 1 April 2022

35,318

35,318

Charge for the year

2,449

2,449

At 31 March 2023

37,767

37,767

Carrying amount

At 31 March 2023

7,346

7,346

At 31 March 2022

9,795

9,795

5

Stocks

2023
£

2022
£

Other inventories

24,083

30,969

6

Debtors

2023
£

2022
£

Other debtors

351,574

364,836

Prepayments

5,913

4,744

357,487

369,580

 

Dr B K Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

7

Creditors

Due within one year

Note

2023
£

2022
£

 

Loans and borrowings

8

9,849

9,606

Trade creditors

 

6,165

5,652

Social security and other taxes

 

3,014

2,696

Other creditors

 

314,609

264,607

Accruals

 

30,690

33,009

Corporation tax liability

44,867

168,077

 

409,194

483,647

Due after one year

 

Loans and borrowings

8

26,612

36,461

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

26,612

36,461

2023
£

2022
£

Current loans and borrowings

Bank borrowings

9,849

9,606

 

Dr B K Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

9

Related party transactions

Key management personnel

Key management are considered to be directors of the company.

Summary of transactions with key management

During the year the company made loans to the directors. The loans are interest free.
 

Loans to related parties

2023

Key management
£

At start of period

308,995

Advanced

124,892

Repaid

(136,261)

At end of period

297,626

2022

Key management
£

At start of period

131,744

Advanced

342,738

Repaid

(165,487)

At end of period

308,995