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K & L HEALTHCARE LIMITED

Registered Number
08349491
(England and Wales)

Unaudited Financial Statements for the Period ended
30 September 2024

K & L HEALTHCARE 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
BS37 4AA

Registered Number

08349491 (England and Wales)
K & L HEALTHCARE LIMITED
Balance Sheet as at
30 September 2024

Notes

30 Sep 2024

31 Mar 2023

£

£

£

£

Fixed assets
Intangible assets31,232,535283,616
Tangible assets413,86114,895
1,246,396298,511
Current assets
Stocks5200,00079,267
Debtors6649,724614,246
Cash at bank and on hand291,887315,739
1,141,6111,009,252
Creditors amounts falling due within one year7(1,148,005)(341,285)
Net current assets (liabilities)(6,394)667,967
Total assets less current liabilities1,240,002966,478
Creditors amounts falling due after one year8(741,775)(309,544)
Provisions for liabilities9(3,492)-
Net assets494,735656,934
Capital and reserves
Called up share capital22
Profit and loss account494,733656,932
Shareholders' funds494,735656,934
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. 08349491
K & L HEALTHCARE 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 the profit and loss account 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. Intangible assets are being amortised over its useful life of 10 years.
Tangible fixed assets and depreciation
Tangible fixed assets are initially stated at cost and subsequently at cost less depreciation. The Land and buildings include long leasehold and leasehold improvements. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Plant and machinery25-
Fixtures and fittings-4
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 medicine 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 year219
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 April 23371,956371,956
Additions1,149,9951,149,995
At 30 September 241,521,9511,521,951
Amortisation and impairment
At 01 April 2388,34088,340
Charge for year201,076201,076
At 30 September 24289,416289,416
Net book value
At 30 September 241,232,5351,232,535
At 31 March 23283,616283,616
4.Tangible fixed assets

Land & buildings

Plant & machinery

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 April 23179,532-8,80412,046200,382
Additions-4832947,3518,128
Transfers1---1
At 30 September 24179,5334839,09819,397208,511
Depreciation and impairment
At 01 April 23179,532-5,538417185,487
Charge for year-613,0736,0289,162
Other adjustments1---1
At 30 September 24179,533618,6116,445194,650
Net book value
At 30 September 24-42248712,95213,861
At 31 March 23--3,26611,62914,895
5.Stocks

2024

2023

££
Finished goods200,00079,267
Total200,00079,267
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables508,282189,750
Amounts owed by group undertakings-319,045
Other debtors102,136100,103
Prepayments and accrued income39,3065,348
Total649,724614,246
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables412,730139,726
Bank borrowings and overdrafts180,48061,306
Amounts owed to related parties63,575-
Taxation and social security27,64717,918
Other creditors463,573122,098
Accrued liabilities and deferred income-237
Total1,148,005341,285
8.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts741,775309,544
Total741,775309,544
Included in bank loans is an amount of £922,255 (2023 : £370,850) for Bank loans which are secured by a fixed charge over the assets of the company. In addition, the directors have given personal guarantees in respect of the bank loans.
9.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)3,492-
Total3,492-
10.Operating lease commitments
At 30/9/2024, the company had total commitments under non-cancellable operating rent leases of £111,154 (2023 : £20,000).
11.Related party transactions
Included in other creditors falling due within one year is an amount of £63,575 (2023 : £319,045 debit) due to K&L Healthcare Holdings Ltd, a company connected to the directors. Included in other creditors at the year end is an amount of £218,134 (2023 : £36,291) due to the directors.
12.Parent-subsidiary relationships
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.
13.Change in reporting period and impact on comparability
Reporting period The financial statements presented are for the period of more than twelve months.