Company registration number 13363117 (England and Wales)
KEY PERFORMANCE INTERNATIONAL HEALTHCARE LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
KEY PERFORMANCE INTERNATIONAL HEALTHCARE LTD
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
KEY PERFORMANCE INTERNATIONAL HEALTHCARE LTD
BALANCE SHEET
AS AT 30 APRIL 2023
30 April 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
14,055
3,967
Current assets
Debtors
4
3,292,529
1,711,581
Cash at bank and in hand
5,421
26,344
3,297,950
1,737,925
Creditors: amounts falling due within one year
5
(2,939,500)
(1,334,333)
Net current assets
358,450
403,592
Total assets less current liabilities
372,505
407,559
Creditors: amounts falling due after more than one year
6
(160,000)
(160,000)
Net assets
212,505
247,559
Capital and reserves
Called up share capital
200
2
Profit and loss reserves
212,305
247,557
Total equity
212,505
247,559
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 18 September 2023 and are signed on its behalf by:
Mr M C Heslam
Director
Company Registration No. 13363117
KEY PERFORMANCE INTERNATIONAL HEALTHCARE LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2023
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 28 April 2021
2
2
Year ended 30 April 2022:
Profit and total comprehensive income for the year
-
247,557
247,557
Balance at 30 April 2022
2
247,557
247,559
Year ended 30 April 2023:
Profit and total comprehensive income for the year
-
304,748
304,748
Issue of share capital
198
-
198
Dividends
-
(340,000)
(340,000)
Balance at 30 April 2023
200
212,305
212,505
KEY PERFORMANCE INTERNATIONAL HEALTHCARE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
- 3 -
1
Accounting policies
Company information
Key Performance International Healthcare Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 2 Copperhouse Court, Caldecotte Business Park, Milton Keynes, Buckinghamshire, England, MK7 8NL.
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
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
1.3
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:
Computer equipment
25% on cost
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.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
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
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.
KEY PERFORMANCE INTERNATIONAL HEALTHCARE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
1
Accounting policies
(Continued)
- 4 -
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.
1.6
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.7
Leases
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
15
5
3
Tangible fixed assets
Computer equipment
£
Cost
At 1 May 2022
5,289
Additions
14,320
At 30 April 2023
19,609
Depreciation and impairment
At 1 May 2022
1,322
Depreciation charged in the year
4,232
At 30 April 2023
5,554
Carrying amount
At 30 April 2023
14,055
At 30 April 2022
3,967
KEY PERFORMANCE INTERNATIONAL HEALTHCARE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 5 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
2,512,231
1,398,965
Amounts owed by group undertakings
280
Other debtors
11,845
11,821
Prepayments and accrued income
768,173
300,795
3,292,529
1,711,581
5
Creditors: amounts falling due within one year
2023
2022
£
£
Other borrowings
126,855
83,410
Trade creditors
279,259
134,832
Amounts owed to group undertakings
311,053
Corporation tax
70,672
57,222
Other taxation and social security
131,527
28,566
Other creditors
1,877,355
773,128
Accruals and deferred income
142,779
257,175
2,939,500
1,334,333
Other Creditors include an amount of £1,852,649 (2022 : £773,128) due to SME Invoice Finance Limited. As at year end the company has a £2.2M (2022 : £1M) invoice discounting facility with SME Invoice Finance Limited. SME Invoice Finance Limited has a fixed and floating charge (floating charge covers all the property or undertaking given by the company) and contains a negative pledge.
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other borrowings
160,000
160,000
KEY PERFORMANCE INTERNATIONAL HEALTHCARE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 6 -
7
RELATED PARTY DISCLOSURES
During the year company paid director Mr M C Heslam £Nil (2022: £51,700) and shareholder Mr J Henderson £Nil (2022: £27,000) for their services.
Mr M C Heslam and Mr J Henderson have provided a joint and several personal guarantee, limited to £250,000 in respect of obligations of the company to SME Invoice Finance Limited.
Other borrowings include an interest free loan from Mr J Henderson amounting £286,855 (2022: £243,410). Mr J Henderson is not permitted to withdraw £160,000 (2022: £160,000) of this loan without SME Invoice Finance Limited approval, this amount is disclosed as amount falling due after more than one year. The remaining amount of £126,855 (2022: £83,410) of this loan is included in other borrowings falling due within one year.
Together APP Holdings Limited has provided a corporate guarantee for the company to SME Invoice Finance Limited. Mr J Henderson is the majority shareholder of Together App Holdings Limited.
8
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
Senior Statutory Auditor:
Mr D P Croucher BSc (Hons) FCCA ACA
Statutory Auditor:
Crouchers Ltd
9
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2023
2022
£
£
58,906
92,388