| REGISTERED NUMBER: |
| KHB PHARMA LTD |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 28 FEBRUARY 2025 |
| REGISTERED NUMBER: |
| KHB PHARMA LTD |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 28 FEBRUARY 2025 |
| KHB PHARMA LTD (REGISTERED NUMBER: 13186136) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 28 FEBRUARY 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| KHB PHARMA LTD |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 28 FEBRUARY 2025 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| KHB PHARMA LTD (REGISTERED NUMBER: 13186136) |
| BALANCE SHEET |
| 28 FEBRUARY 2025 |
| 28.2.25 | 28.2.24 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks | 6 |
| Debtors | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| KHB PHARMA LTD (REGISTERED NUMBER: 13186136) |
| BALANCE SHEET - continued |
| 28 FEBRUARY 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| KHB PHARMA LTD (REGISTERED NUMBER: 13186136) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 28 FEBRUARY 2025 |
| 1. | STATUTORY INFORMATION |
| KHB Pharma Ltd is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going concern |
| The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. In making their assessment, the directors have reviewed the balance sheet, the likely future cashflows of the business and have considered the facilities that are available to the company along with their continued support. |
| At the date of approving the financial statements the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and that the going concern basis of accounting remains appropriate. The directors continue to adopt the going concern basis of accounting in preparing the financial statements. |
| Significant judgements and estimates |
| In the application of the company's accounting policies, which are described in note 2, management are required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
| The estimates and underlying assumptions are reviewed on a ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. |
| Useful economic lives of intangible assets |
| The annual amortisation charge of intangible fixed assets is a fixed rate based on the useful economic life of the asset. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect the current estimate. See notes for the carrying amount of the intangible fixed assets and accounting policies in note 2 for the useful economic lives of each class of asset. |
| KHB PHARMA LTD (REGISTERED NUMBER: 13186136) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 28 FEBRUARY 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Turnover |
| Turnover is measured at fair value of the consideration received or receivable net of VAT and discounts. The policies adopted for the recognition of turnover are as follows:- |
| - Revenue represents retail sales to customers and is measured at fair value of the consideration received or receivable and is recognised when all risk and rewards of ownership are transferred to the end customer. |
| - NHS income is recognised in the period which it is due. |
| - Services provided to the customer during the normal course of business. Turnover is recognised at the point when all benefits of the services provided are transferred to the customer. |
| Goodwill |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses. |
| Depreciation is provided at the following annual rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives: |
| Fixtures and equipment - 20% reducing balance |
| Motor vehicles - 25% reducing balance |
| Computer equipment - 33% cost |
| At each balance sheet date, the company reviews the carrying amount of its tangible assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs. |
| Stocks |
| Stocks are valued at the lower of cost and estimated selling price less cost to sell after making due allowance for obsolete and slow moving items. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| KHB PHARMA LTD (REGISTERED NUMBER: 13186136) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 28 FEBRUARY 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Operating lease commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| Provisions |
| Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefit will be required in settlement and the amount can be reliable estimated. |
| Impairment |
| Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the assets cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit and loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease. |
| KHB PHARMA LTD (REGISTERED NUMBER: 13186136) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 28 FEBRUARY 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Cash and cash equivalents |
| Cash and cash equivalents are basic financial instruments and include cash in hand and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. |
| Financial instruments |
| The company has elected to apply the provisions of Section 11 'Basic Financial Instruments'. Financial instruments are recognised 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 trade and other debtors, loans to related companies 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 financial asset is measured at the present value of the future receipts discounted at a market rate of interest. |
| Basic financial liabilities |
| Basic financial liabilities, including trade and other creditors, loans to related companies and bank loans are initially recognised at transaction price unless the arrangement constitutes a financial transaction, where the the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 29 February 2024 |
| and 28 February 2025 |
| AMORTISATION |
| At 29 February 2024 |
| Amortisation for year |
| At 28 February 2025 |
| NET BOOK VALUE |
| At 28 February 2025 |
| At 28 February 2024 |
| KHB PHARMA LTD (REGISTERED NUMBER: 13186136) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 28 FEBRUARY 2025 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures | Motor | Computer |
| & equipment | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 29 February 2024 |
| Additions |
| At 28 February 2025 |
| DEPRECIATION |
| At 29 February 2024 |
| Charge for year |
| At 28 February 2025 |
| NET BOOK VALUE |
| At 28 February 2025 |
| At 28 February 2024 |
| 6. | STOCKS |
| 28.2.25 | 28.2.24 |
| £ | £ |
| Stocks |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 28.2.25 | 28.2.24 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 28.2.25 | 28.2.24 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 9. | LEASING AGREEMENTS |
| At 28 February 2025, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £96,281 - (2024 - £109,827). |
| KHB PHARMA LTD (REGISTERED NUMBER: 13186136) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 28 FEBRUARY 2025 |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 28.2.25 | 28.2.24 |
| £ | £ |
| Pentyrch Pharmacy Limited | 154,000 | 154,000 |
| K Bhudia | 201,362 | 212,634 |
| Pentyrch Pharmacy Limited and K Bhudia hold fixed and floating charges, containing negative pledge. |
| The floating charge is over all existing and future property and undertakings owned by the company. |
| The fixed charge is over all book debts, present and future goodwill, all company contracts (including NHS) and existing and future tangible fixed assets. |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 28.2.25 | 28.2.24 |
| value: | £ | £ |
| Ordinary A | £1 | 60 | 60 |
| Ordinary B | £1 | 40 | 40 |
| 100 | 100 |
| 12. | TRANSACTIONS WITH DIRECTORS |
| As at 28 February 2025 the company owed Mr K Bhudia £215,275 (2024 - £212,634) which is included within the creditors amounts falling due within one year. The balance is interest free and repayable on demand. |
| 13. | RELATED PARTY DISCLOSURES |
| As at 28 February 2025 an amount of £154,000 (2024 - £154,000) was owed to Pentyrch Pharmacy Limited. Pentyrch Pharmacy Limited is a company which one of the directors has a vested interest in. The amount is included within creditors falling due within one year. The balance is interest free and repayable on demand. |
| Included in the profit and loss of the company is an amount of £475 (2024 - £nil) from Pentyrch Pharmacy Limited in respect of purchases. As at 28 February 2025 an amount of £475 (2024 - £nil) was owed to Pentyrch Pharmacy Limited. |
| As at 28 February 2025 an amount of £24,500 (2024 - £10,379) was owed to H Field. H Field is a shareholder of the company. The amount is included within creditors falling due within one year. The balance is interest free and repayable on demand. |