Company registration number 10700015 (England and Wales)
KALKI HEALTH LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
KALKI HEALTH LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
KALKI HEALTH LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
1,400,882
1,458,030
Tangible assets
4
156,152
57,214
1,557,034
1,515,244
Current assets
Stocks
78,151
76,951
Debtors
5
360,316
350,347
Cash at bank and in hand
242,910
137,806
681,377
565,104
Creditors: amounts falling due within one year
6
(885,659)
(821,240)
Net current liabilities
(204,282)
(256,136)
Total assets less current liabilities
1,352,752
1,259,108
Creditors: amounts falling due after more than one year
7
(1,087,503)
(1,036,403)
Provisions for liabilities
(28,436)
(14,304)
Net assets
236,813
208,401
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
236,713
208,301
Total equity
236,813
208,401
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
KALKI HEALTH LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2024
30 September 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 16 June 2025 and are signed on its behalf by:
Mr VM Bhatia
Director
Company registration number 10700015 (England and Wales)
KALKI HEALTH LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
1
Accounting policies
Company information
Kalki Health Limited is a private company limited by shares incorporated in England and Wales. The registered office is Elthorne Gate, 64 High Street, Pinner, Middlesex, HA5 5QA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time 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. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover represents revenue generated from the pharmacy and is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discount, settlement discounts and volume rebates.
1.4
Intangible fixed assets - goodwill
Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.
Goodwill, being the amount paid in connection with the acquisition of a business in 2017 and 2023, is being amortised evenly over its estimated useful life of thirty years.
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
20% on reducing balance
Computers
20% on reducing balance
Motor vehicles
20% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
KALKI HEALTH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.
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.
1.8
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.
1.9
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
18
15
KALKI HEALTH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 October 2023 and 30 September 2024
1,714,447
Amortisation and impairment
At 1 October 2023
256,417
Amortisation charged for the year
57,148
At 30 September 2024
313,565
Carrying amount
At 30 September 2024
1,400,882
At 30 September 2023
1,458,030
4
Tangible fixed assets
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 October 2023
94,367
18,721
113,088
Additions
87,557
725
50,250
138,532
At 30 September 2024
181,924
19,446
50,250
251,620
Depreciation and impairment
At 1 October 2023
50,119
5,755
55,874
Depreciation charged in the year
26,806
2,738
10,050
39,594
At 30 September 2024
76,925
8,493
10,050
95,468
Carrying amount
At 30 September 2024
104,999
10,953
40,200
156,152
At 30 September 2023
44,248
12,966
57,214
Included within the net book value of the above asset is £40,200 relating to assets held under hire purchase agreements. The depreciation charged to the financial statements in the year in respect of such assets amounted to £10,050.
KALKI HEALTH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 6 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
208,038
256,741
Other debtors
89,914
53,134
Prepayments and accrued income
62,364
40,472
360,316
350,347
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
99,565
86,923
Trade creditors
399,303
312,539
Taxation and social security
41,600
36,388
Other creditors
345,191
385,390
885,659
821,240
7
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
1,049,313
1,036,403
Obligations under finance leases
8
38,190
1,087,503
1,036,403
Included in the bank loans due within one year and after one year is £1,018,800 secured by a fixed and floating charge over the assets of the company.
Amounts included above which fall due after five years are as follows:
Payable by instalments
661,137
322,482
KALKI HEALTH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 7 -
8
Finance lease obligations
2024
2023
Future minimum lease payments due under finance leases:
£
£
Within one year
9,548
In two to five years
38,190
47,738
The above disclosed hire purchase contract has a fixed interest rate and is secured over the asset held under hire purchase lease commitments.
9
Operating lease commitments
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
266,328
300,736
10
Directors' transactions
During the year the company paid interest of £33,083 at 10% per annum on outstanding loan from the director.