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COMPANY REGISTRATION NUMBER: 07227426
KIBS Pain Solutions Limited
Filleted Unaudited Financial Statements
30 April 2024
KIBS Pain Solutions Limited
Financial Statements
Year ended 30 April 2024
Contents
Page
Accountants report to the board of directors on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2
Notes to the financial statements
4
KIBS Pain Solutions Limited
Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of KIBS Pain Solutions Limited
Year ended 30 April 2024
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 30 April 2024, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
BURLINSON SHAW & CO Accountants
21 Henrietta Street Batley West Yorkshire WF17 5DN
22 January 2025
KIBS Pain Solutions Limited
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
13,857
18,039
Investments
6
232,139
158,832
---------
---------
245,996
176,871
Current assets
Debtors
7
224,359
57,470
Cash at bank and in hand
200,866
358,621
---------
---------
425,225
416,091
Creditors: amounts falling due within one year
8
58,822
37,307
---------
---------
Net current assets
366,403
378,784
---------
---------
Total assets less current liabilities
612,399
555,655
Provisions
Taxation including deferred tax
2,635
3,430
---------
---------
Net assets
609,764
552,225
---------
---------
KIBS Pain Solutions Limited
Statement of Financial Position (continued)
30 April 2024
2024
2023
Note
£
£
£
Capital and reserves
Called up share capital
2
2
Profit and loss account
609,762
552,223
---------
---------
Shareholders funds
609,764
552,225
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2024 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 22 January 2025 , and are signed on behalf of the board by:
Dr G Baranidharan
Director
Company registration number: 07227426
KIBS Pain Solutions Limited
Notes to the Financial Statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Grange, 115 Wigton Lane, Leeds, West Yorkshire, LS17 8SH.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
20% reducing balance
Motor vehicles
-
25% reducing balance
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2023: 4 ).
5. Tangible assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 May 2023 and 30 April 2024
14,812
36,340
51,152
--------
--------
--------
Depreciation
At 1 May 2023
8,271
24,842
33,113
Charge for the year
1,308
2,874
4,182
--------
--------
--------
At 30 April 2024
9,579
27,716
37,295
--------
--------
--------
Carrying amount
At 30 April 2024
5,233
8,624
13,857
--------
--------
--------
At 30 April 2023
6,541
11,498
18,039
--------
--------
--------
6. Investments
Shares in participating interests
Other investments other than loans
Total
£
£
£
Cost
At 1 May 2023
158,832
158,832
Additions
60,000
13,307
73,307
--------
---------
---------
At 30 April 2024
60,000
172,139
232,139
--------
---------
---------
Impairment
At 1 May 2023 and 30 April 2024
--------
---------
---------
Carrying amount
At 30 April 2024
60,000
172,139
232,139
--------
---------
---------
At 30 April 2023
158,832
158,832
--------
---------
---------
7. Debtors
2024
2023
£
£
Trade debtors
5,328
6,827
Other debtors
219,031
50,643
---------
--------
224,359
57,470
---------
--------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
2,641
1,539
Corporation tax
51,458
29,300
Social security and other taxes
462
625
Other creditors
4,261
5,843
--------
--------
58,822
37,307
--------
--------
9. Directors' advances, credits and guarantees
At the balance sheet date the directors owed the company £24,793 (2023: £nil). This amount is repayable on demand.