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K & L HEALTHCARE HOLDINGS LIMITED

Registered Number
10747571
(England and Wales)

Unaudited Financial Statements for the Period ended
30 September 2024

K & L HEALTHCARE HOLDINGS LIMITED
Company Information
for the period from 1 April 2023 to 30 September 2024

Directors

Freddy Kwan
Lay Teng Lim

Registered Address

Yate Family Pharmacy Kennedy Way Surgery, Kennedy Way
Yate
Bristol
BS37 4AA

Registered Number

10747571 (England and Wales)
K & L HEALTHCARE HOLDINGS LIMITED
Balance Sheet as at
30 September 2024

Notes

30 Sep 2024

31 Mar 2023

£

£

£

£

Fixed assets
Intangible assets3133,333163,333
Tangible assets420,1083,100
153,441166,433
Current assets
Stocks566,72066,720
Debtors6409,750348,707
Cash at bank and on hand135,879265,214
612,349680,641
Creditors amounts falling due within one year7(584,660)(701,593)
Net current assets (liabilities)27,689(20,952)
Total assets less current liabilities181,130145,481
Provisions for liabilities8(5,027)-
Net assets176,103145,481
Capital and reserves
Called up share capital100100
Profit and loss account176,003145,381
Shareholders' funds176,103145,481
The financial statements were approved and authorised for issue by the Board of Directors on 29 May 2025, and are signed on its behalf by:
Lay Teng Lim
Director
Registered Company No. 10747571
K & L HEALTHCARE HOLDINGS LIMITED
Notes to the Financial Statements
for the period ended 30 September 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.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
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 pharmacy services and is recognised at the point when services are rendered and goods are sold.
Operating leases
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
Current taxation
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
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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. Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortized evenly over its estimated useful life of ten years.
Tangible fixed assets and depreciation
Tangible fixed assets are initially stated at cost and subsequently at cost less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Fixtures and fittings25
Office Equipment25
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). Stock consists of unsold medicines at the year end.
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 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.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20242023
Average number of employees during the year96
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 April 23200,000200,000
At 30 September 24200,000200,000
Amortisation and impairment
At 01 April 2336,66736,667
Charge for year30,00030,000
At 30 September 2466,66766,667
Net book value
At 30 September 24133,333133,333
At 31 March 23163,333163,333
4.Tangible fixed assets

Fixtures & fittings

Office Equipment

Total

£££
Cost or valuation
At 01 April 23-5,5065,506
Additions12,0479,90821,955
At 30 September 2412,04715,41427,461
Depreciation and impairment
At 01 April 23-2,4062,406
Charge for year1,2323,7154,947
At 30 September 241,2326,1217,353
Net book value
At 30 September 2410,8159,29320,108
At 31 March 23-3,1003,100
5.Stocks

2024

2023

££
Finished goods66,72066,720
Total66,72066,720
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables297,350268,416
Amounts owed by group undertakings63,575-
Other debtors46,46180,094
Prepayments and accrued income2,364197
Total409,750348,707
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables219,845214,876
Amounts owed to related parties-319,045
Taxation and social security29,21237,610
Other creditors335,603130,062
Total584,660701,593
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)5,027-
Total5,027-
9.Operating lease commitments
At 30/9/2024, the company had total commitments under non-cancellable operating rent lease of £44,148 (2023 : £28,825).
10.Related party transactions
Included in other creditors is an amount of £170,449 (2023 : £Nil) due to the directors.
11.Controlling party
The ultimate controlling party is Kwan & Lim Corporation Ltd and its registered office address is Yate Family Pharmacy Kennedy Way Surgery, Kennedy Way, Yate, Bristol, England, BS37 4AA.
12.Change in reporting period and impact on comparability
Reporting period The financial statements presented are for the period of more than twelve months.