Hak Healthcare Limited 31/07/2021 iXBRL

Hak Healthcare Limited 31/07/2021 iXBRL

HAK HEALTHCARE LTD - Company Information

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Company registration number: 09145910
Hak Healthcare Limited
Unaudited filleted financial statements
31 July 2021
Hak Healthcare Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Hak Healthcare Limited
Directors and other information
Directors Dr A A Bokhari
Mrs S H Chaudry
Dr K M Syed
Company number 09145910
Registered office 1st Floor
84 North Street
Manchester
M8 8RA
Accountants Accounts Tax Solutions Limited
Paul House
Stockport Road
Timperley
Cheshire
WA15 7UQ
Hak Healthcare Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Hak Healthcare Limited
Year ended 31 July 2021
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 July 2021 which comprise the statement of financial position, statement of changes in equity and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Accounts Tax Solutions Limited
Paul House
Stockport Road
Timperley
Cheshire
WA15 7UQ
29 April 2022
Hak Healthcare Limited
Statement of financial position
31 July 2021
2021 2020
Note £ £ £ £
Fixed assets
Tangible assets 5 3,215 4,287
_______ _______
3,215 4,287
Current assets
Stocks 17,483 17,483
Debtors 6 128,349 78,236
Cash at bank and in hand 49,252 54,447
_______ _______
195,084 150,166
Creditors: amounts falling due
within one year 7 ( 123,118) ( 108,935)
_______ _______
Net current assets 71,966 41,231
_______ _______
Total assets less current liabilities 75,181 45,518
Creditors: amounts falling due
after more than one year 8 - ( 792)
_______ _______
Net assets 75,181 44,726
_______ _______
Capital and reserves
Called up share capital 99 99
Profit and loss account 75,082 44,627
_______ _______
Shareholders funds 75,181 44,726
_______ _______
For the year ending 31 July 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- 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;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 29 April 2022 , and are signed on behalf of the board by:
Mrs S H Chaudry
Director
Company registration number: 09145910
Hak Healthcare Limited
Statement of changes in equity
Year ended 31 July 2021
Called up share capital Profit and loss account Total
£ £ £
At 1 August 2019 99 15,076 15,175
Profit for the year 29,551 29,551
_______ _______ _______
Total comprehensive income for the year - 29,551 29,551
_______ _______ _______
At 31 July 2020 and 1 August 2020 99 44,627 44,726
Profit for the year 30,455 30,455
_______ _______ _______
Total comprehensive income for the year - 30,455 30,455
_______ _______ _______
At 31 July 2021 99 75,082 75,181
_______ _______ _______
Hak Healthcare Limited
Notes to the financial statements
Year ended 31 July 2021
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1st Floor, 84 North Street, Manchester, M8 8RA.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. 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 is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 25 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2020: 5 ).
5. Tangible assets
Fixtures, fittings and equipment Motor vehicles Total
£ £ £
Cost
At 1 August 2020 and 31 July 2021 3,707 9,504 13,211
_______ _______ _______
Depreciation
At 1 August 2020 2,427 6,497 8,924
Charge for the year 320 752 1,072
_______ _______ _______
At 31 July 2021 2,747 7,249 9,996
_______ _______ _______
Carrying amount
At 31 July 2021 960 2,255 3,215
_______ _______ _______
At 31 July 2020 1,280 3,007 4,287
_______ _______ _______
6. Debtors
2021 2020
£ £
Other debtors 128,349 78,236
_______ _______
7. Creditors: amounts falling due within one year
2021 2020
£ £
Trade creditors 94,325 82,295
Corporation tax 7,333 4,183
Other creditors 21,460 22,457
_______ _______
123,118 108,935
_______ _______
8. Creditors: amounts falling due after more than one year
2021 2020
£ £
Other creditors - 792
_______ _______
9. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2021
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Dr A A Bokhari ( 8,869) - ( 8,869)
Mrs S H Chaudry 12,570 654 13,224
Dr K M Syed ( 6,014) - ( 6,014)
_______ _______ _______
( 2,313) 654 ( 1,659)
_______ _______ _______
2020
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Dr A A Bokhari ( 8,869) - ( 8,869)
Mrs S H Chaudry 12,064 506 12,570
Dr K M Syed ( 6,014) - ( 6,014)
_______ _______ _______
( 2,819) 506 ( 2,313)
_______ _______ _______
10. Controlling party
The ultimate controlling party of the company are its Directors.