Registration number:
Lux Health Technologies Ltd
for the Year Ended 31 December 2021
Pages for filing with Registrar
Lux Health Technologies Ltd
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Lux Health Technologies Ltd
Company Information
Director |
T H Povlsen |
Registered office |
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Registered number |
10065887 |
Accountants |
Corrigan Accountants Limited |
Lux Health Technologies Ltd
(Registration number: 10065887)
Balance Sheet as at 31 December 2021
Note |
2021 |
2020 |
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Fixed assets |
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Intangible assets |
- |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
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10 |
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Profit and loss account |
( |
(2,729,276) |
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Total equity |
( |
(2,729,266) |
Lux Health Technologies Ltd
(Registration number: 10065887)
Balance Sheet as at 31 December 2021 (continued)
For the financial year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
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• |
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised for issue by the
.........................................
Director
Lux Health Technologies Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021
Statutory information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention.
The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Going concern
The financial statements have been prepared on a going concern basis which recognises that the company will continue to receive the support of its holding company.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Lux Health Technologies Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021
2 |
Accounting policies (continued) |
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Development costs
Research and development expenditure is written off as incurred, except that development expenditure incurred on an individual project is capitalised as an intangible asset when the company can demonstrate the technical feasibility of completing the intangible asset so that it will be available for use or sale, its intention to complete and its ability to use or sell the asset, how the asset will generate future economic benefits, the availability of resources to complete the asset and the ability to measure reliably the expenditure during development.
Following initial recognition of the development expenditure as an asset, the cost model is applied requiring the asset to be carried at cost less any accumulated amortisation and accumulated impairment losses.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
Trade creditors
Trade creditors are recognised at the transaction price.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Lux Health Technologies Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021
Intangible fixed assets |
Development costs |
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Cost |
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At 1 January 2021 |
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At 31 December 2021 |
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Amortisation |
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At 1 January 2021 |
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Amortisation charge |
- |
Impairment |
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At 31 December 2021 |
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Carrying amount |
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At 31 December 2021 |
- |
At 31 December 2020 |
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Debtors: amounts falling due within one year |
2021 |
2020 |
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VAT |
182 |
11,959 |
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Creditors |
2021 |
2020 |
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Trade creditors |
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Amounts owed to group undertakings |
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Lux Health Technologies Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021
Share capital |
Allotted, called up and fully paid shares
2021 |
2020 |
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No. |
£ |
No. |
£ |
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|
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10 |
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10 |
Loans and borrowings |
2021 |
2020 |
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Current loans and borrowings |
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Amounts owed to group undertakings |
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Amounts owed to group undertakings
This loan with a carrying value of £3,197,747 (2020: £3,135,046) is denominated in £ with a nominal interest rate of 2% per annum. The loan is repayable on demand and is made without collateral security.
Parent and ultimate parent undertaking |
The company's immediate parent is