REGISTERED NUMBER: 15380731 (England and Wales)

Kpharm Enterprises Ltd

Unaudited Financial Statements

for the Period 2nd January 2024 to 31st March 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Miss L A Keith

A Yeung

REGISTERED OFFICE:

60 Woodland Lane

Leeds

LS7 4PD

REGISTERED NUMBER:

15380731 (England and Wales)

ACCOUNTANTS:

Smailes Goldie

Chartered Accountants

Regent's Court

Princess Street

Hull

East Yorkshire

HU2 8BA

FIXED ASSETS

Intangible assets

4

604,194

Tangible assets

5

66,036

670,230

CURRENT ASSETS

Stocks

45,329

Debtors

6

96,442

Cash at bank and in hand

31,986

173,757

CREDITORS

Amounts falling due within one year

7

178,989

NET CURRENT LIABILITIES

(5,232

)

TOTAL ASSETS LESS CURRENT LIABILITIES

664,998

CREDITORS

Amounts falling due after more than one year

8

690,913

NET LIABILITIES

(25,915

)

CAPITAL AND RESERVES

Called up share capital

10

100

Retained earnings

(26,015

)

SHAREHOLDERS' FUNDS

(25,915

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31st March 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 31st March 2025 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24th October 2025 and were signed on its behalf by:

Miss L A Keith - Director

1.	STATUTORY INFORMATION

Kpharm Enterprises Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods

Turnover represents amounts earned in respect of prescription income, over the counter sales along with professional services income .Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates and value added tax is rec and is recognised on sale of goods or the dispensing of a prescription in the period to which the revenue relates.

Intangible assets

The difference between amounts paid on the acquisition of a business and the fair value of its identifiable assets and liabilities is capitalised as an intangible asset as the retail pharmacy licence.In the opinion of the directors the intangible asset represents the value of future cashflow to be generated from the license to operate the pharmacy. The pharmacy licence is amortised over 20 years and is subject to an annual impairment review by the director.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

20% on cost and 5% - 15% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the period 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.

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 period 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 8 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

Additions

627,734

At 31st March 2025

627,734

AMORTISATION

Charge for period

23,540

At 31st March 2025

23,540

NET BOOK VALUE

At 31st March 2025

604,194

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

Additions

67,778

943

68,721

At 31st March 2025

67,778

943

68,721

DEPRECIATION

Charge for period

2,549

136

2,685

At 31st March 2025

2,549

136

2,685

NET BOOK VALUE

At 31st March 2025

65,229

807

66,036

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

74,622

Other debtors

21,820

96,442

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Bank loans and overdrafts

19,662

Trade creditors

78,338

Taxation and social security

745

Other creditors

80,244

178,989

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Bank loans

445,171

Other creditors

245,742

690,913

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

351,388

9.	SECURED DEBTS

The following secured debts are included within creditors:

£

Bank loans

464,833

The bank loan is secured on assets of the company.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

100

Ordinary

£1

100

100 Ordinary shares of £1 each were allotted and fully paid for cash at par during the period.

11.	OTHER FINANCIAL COMMITMENTS

The company has given an omnibus guarantee and set-off agreement in respect of borrowings of Keith's Pharmacy Limited. At 31st March 2025 the potential liability of the company under the arrangement was £183,904.

12.	RELATED PARTY DISCLOSURES

Included in other creditors is a loan of £245,742 from Keith's Pharmacy Limited, The loan is interest free. L.Keith & A yeung are directors of both companies and Keith's Pharmacy Limited is owned by L Keith.