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Registered number: 10066183
Singh & Khalsa Medicare Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
C&H Associates T/AS Mobile Accountants
Chartered Management Accountants & Tax Practitioners
206 Turners Hill
Cheshunt
Waltham Cross
Hertfordshire
EN8 9DE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10066183
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 630,922 487,934
Investments 5 25,000 25,000
655,922 512,934
CURRENT ASSETS
Debtors 6 19,118 2,177
Cash at bank and in hand 208,309 263,928
227,427 266,105
Creditors: Amounts Falling Due Within One Year 7 (120,685 ) (111,611 )
NET CURRENT ASSETS (LIABILITIES) 106,742 154,494
TOTAL ASSETS LESS CURRENT LIABILITIES 762,664 667,428
Creditors: Amounts Falling Due After More Than One Year 8 (134,648 ) (137,912 )
NET ASSETS 628,016 529,516
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 627,916 529,416
SHAREHOLDERS' FUNDS 628,016 529,516
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Dr Jagmohan Singh
Director
19/02/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Singh & Khalsa Medicare Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10066183 . The registered office is 206 Turners Hill, Cheshunt, Hertfordshire, EN8 9DE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 0
Leasehold 0
Plant & Machinery 20
Motor Vehicles 20
Fixtures & Fittings 20
Computer Equipment 20
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 April 2023 443,919 9,842 55,990 8,749
Additions 151,792 - - -
As at 31 March 2024 595,711 9,842 55,990 8,749
Depreciation
As at 1 April 2023 - 6,094 20,156 6,599
Provided during the period - 750 7,167 430
As at 31 March 2024 - 6,844 27,323 7,029
Net Book Value
As at 31 March 2024 595,711 2,998 28,667 1,720
As at 1 April 2023 443,919 3,748 35,834 2,150
Computer Equipment Total
£ £
Cost
As at 1 April 2023 5,725 524,225
Additions - 151,792
As at 31 March 2024 5,725 676,017
Depreciation
As at 1 April 2023 3,442 36,291
Provided during the period 457 8,804
As at 31 March 2024 3,899 45,095
Net Book Value
As at 31 March 2024 1,826 630,922
As at 1 April 2023 2,283 487,934
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Page 5
5. Investments
Other
£
Cost
As at 1 April 2023 25,000
As at 31 March 2024 25,000
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 25,000
As at 1 April 2023 25,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 18,434 1,493
Other debtors 684 684
19,118 2,177
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 33,423 19,117
Accruals and deferred income 2,648 2,299
Directors' loan accounts 84,614 90,195
120,685 111,611
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Mortgage 134,648 137,912
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5