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Registered number: 13156968










KHP MEDTECH INNOVATIONS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024


 
KHP MEDTECH INNOVATIONS LIMITED
REGISTERED NUMBER: 13156968

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
5,020
10,213

Investments
 5 
3,891,164
3,568,828

  
3,896,184
3,579,041

Current assets
  

Debtors: amounts falling due within one year
 6 
8,927
16,130

Cash at bank and in hand
 7 
95,897
758,250

  
104,824
774,380

Current liabilities
  

Creditors: amounts falling due within one year
 8 
(9,571)
(131,353)

Net current assets
  
 
 
95,253
 
 
643,027

Net assets
  
3,991,437
4,222,068


Capital and reserves
  

Called up share capital 
 9 
6,000,000
6,000,000

Profit and loss account
  
(2,008,563)
(1,777,932)

  
3,991,437
4,222,068


Page 1

 
KHP MEDTECH INNOVATIONS LIMITED
REGISTERED NUMBER: 13156968

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




L Tallon
Director

Date: 31 January 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
KHP MEDTECH INNOVATIONS LIMITED
 

 
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

KHP MedTech Innovations Limited is a private company, limited by share capital and incorporated in England and Wales. Its registered number is 13156968.
The Company's principal activity is the venture and development of capital companies.
The registered office is C.I.T.I., 10th Floor, 75-79 York Road, London, United Kingdom, SE1 7NJ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Directors have considered the ability of the Company to continue trading for the foreseeable future. This review has included cash flow forecasts and projections for at least twelve months from the date of signing the financial statements. Based on this review and taken together with existing financing facilities, the Directors believe that the financial statements have been prepared appropriately on the going concern basis.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
KHP MEDTECH INNOVATIONS LIMITED
 

 
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
33%
straight-line method
Computer equipment
-
33%
straight-line method

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Page 4

 
KHP MEDTECH INNOVATIONS LIMITED
 

 
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 11 (2023 - 15).


4.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost or valuation


At 1 April 2023
418
15,162
15,580



At 31 March 2024

418
15,162
15,580



Depreciation


At 1 April 2023
116
5,251
5,367


Charge for the year on owned assets
139
5,054
5,193



At 31 March 2024

255
10,305
10,560



Net book value



At 31 March 2024
163
4,857
5,020



At 31 March 2023
302
9,911
10,213


5.


Fixed asset investments





Equity investments

£



Cost 


At 1 April 2023
3,568,828


Disposals
(199,475)


Revaluations
521,811



At 31 March 2024
3,891,164




Page 5

 
KHP MEDTECH INNOVATIONS LIMITED
 

 
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Debtors

2024
2023
£
£


Prepayments
8,927
16,130



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
95,897
758,250



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
6,221
90,507

Other taxation and social security
-
19,887

Other creditors
-
1,491

Accruals and deferred income
3,350
19,468

9,571
131,353



9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1,800,000 (2023 - 1,800,000) GSTT shares of £1.00 each
1,800,000
1,800,000
2,400,000 (2023 - 2,400,000) KING'S shares of £1.00 each
2,400,000
2,400,000
1,800,000 (2023 - 1,800,000) KCH shares of £1.00 each
1,800,000
1,800,000

6,000,000

6,000,000



10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £3,081 (2023 - £6,803). Contributions totalling £nil (2023 - £1,491) were payable to the fund at the balance sheet date and are included in creditors.

Page 6

 
KHP MEDTECH INNOVATIONS LIMITED
 

 
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2024

11.


Related party transactions

During the year, payments of £30,000 (2023: £40,000) were made to Pembrokeshire Retreats Limited, a company related by common control. (This is the beneficiary entity of Tim Irish’s remuneration as Chair). At the year end the Company was owed £nil (2023: £nil). Tim Irish was a director of the Company during the year.


Page 7