2023-05-052024-05-312024-05-31false14849300COOLREACH HEALTHCARE LOGISTICS 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COOLREACH HEALTHCARE LOGISTICS LIMITED

Registered Number
14849300
(England and Wales)

Unaudited Financial Statements for the Period ended
31 May 2024

COOLREACH HEALTHCARE LOGISTICS LIMITED
Company Information
for the period from 5 May 2023 to 31 May 2024

Directors

BHAGAT, Sanjeev Kumar
MADANI, Tushar Pramodkumar
SHETH, Alok Sharad

Registered Address

19 Village Way
Pinner
HA5 5AB

Registered Number

14849300 (England and Wales)
COOLREACH HEALTHCARE LOGISTICS LIMITED
Balance Sheet as at
31 May 2024

Notes

2024

£

£

Fixed assets
Tangible assets33,685
3,685
Current assets
Stocks418,161
Debtors513,031
Cash at bank and on hand8,892
40,084
Creditors amounts falling due within one year6(202,171)
Net current assets (liabilities)(162,087)
Total assets less current liabilities(158,402)
Net assets(158,402)
Capital and reserves
Called up share capital5,000
Profit and loss account(163,402)
Shareholders' funds(158,402)
The financial statements were approved and authorised for issue by the Board of Directors on 14 August 2024, and are signed on its behalf by:
BHAGAT, Sanjeev Kumar
Director
MADANI, Tushar Pramodkumar
Director
SHETH, Alok Sharad
Director

Registered Company No. 14849300
COOLREACH HEALTHCARE LOGISTICS LIMITED
Notes to the Financial Statements
for the period ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities. This is the first time the company has prepared its financial statement hence the financial statements presented are for a period longer than 12 months with no comparatives.
Basis of preparation
The accounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
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 and is recognised at the point when services are rendered.
Operating leases
Rentals payable under operating lease, including any lease incentive received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative time pattern in which economic benefits from the lease asset are consumed.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Computer equipment (included in Office equipment) - 25% on cost Office equipment - 20% on cost
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors, loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they no longer at the discretion of the company.
2.Average number of employees

2024
Average number of employees during the year5
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
Additions4,4484,448
At 31 May 244,4484,448
Depreciation and impairment
Charge for year763763
At 31 May 24763763
Net book value
At 31 May 243,6853,685
At 04 May 23--
4.Stocks

2024

£
Raw materials and consumables18,161
Total18,161
5.Debtors: amounts due within one year

2024

£
Other debtors4,531
Prepayments and accrued income8,500
Total13,031
6.Creditors: amounts due within one year

2024

£
Trade creditors / trade payables8,554
Amounts owed to related parties173,060
Taxation and social security1,304
Other creditors17,453
Accrued liabilities and deferred income1,800
Total202,171
7.Operating lease commitments
At the period end, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £21,600.
8.Related party transactions
Included in creditors due within one year is an amount of £173,060 due to the parent company Euro Lifecare Ltd. Included in other creditors at the period end is an amount of £17,453 due to Director, T Madani.
9.Parent-subsidiary relationships
The company's parent company is Euro Lifecare Ltd, a company registered in England and Wales and its registered office address is 2nd Floor 19 Margaret Street, London, England, W1W 8RR.