REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD |
9 SEPTEMBER 2021 TO 31 DECEMBER 2022 |
FOR |
H1 LIFE SCIENCES LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD |
9 SEPTEMBER 2021 TO 31 DECEMBER 2022 |
FOR |
H1 LIFE SCIENCES LIMITED |
H1 LIFE SCIENCES LIMITED (REGISTERED NUMBER: 13612057) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 9 SEPTEMBER 2021 TO 31 DECEMBER 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
H1 LIFE SCIENCES LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 9 SEPTEMBER 2021 TO 31 DECEMBER 2022 |
Directors: |
Secretary: |
Registered office: |
Registered number: |
Auditors: |
Lower Ground Floor |
111 Charterhouse Street |
London |
EC1M 6AW |
H1 LIFE SCIENCES LIMITED (REGISTERED NUMBER: 13612057) |
BALANCE SHEET |
31 DECEMBER 2022 |
Notes | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 5 | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 6 |
Retained earnings | 7 |
SHAREHOLDERS' FUNDS |
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 |
H1 LIFE SCIENCES LIMITED (REGISTERED NUMBER: 13612057) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 9 SEPTEMBER 2021 TO 31 DECEMBER 2022 |
1. | STATUTORY INFORMATION |
H1 Life Sciences Limited is a |
The Company's functional and presentational currency is pounds sterling (GBP) and the financial statements have been rounded to the nearest pound (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is derived from recharged expenses to the parent company and is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments. |
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
Classification of financial liabilities |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. |
Basic financial liabilities |
Basic financial liabilities, including creditors, and loans from fellow group companies are initially recognised at transaction price. |
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are initially recognised at transaction price. |
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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
H1 LIFE SCIENCES LIMITED (REGISTERED NUMBER: 13612057) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 9 SEPTEMBER 2021 TO 31 DECEMBER 2022 |
2. | ACCOUNTING POLICIES - continued |
Pension commitment |
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £69,496. Contributions totalling £7,406 were payable to the fund at the balance sheet date and are included in creditors. |
Share based payments |
Where share options are awarded to employees, the fair value of the options at the date of grant is charged to profit or loss over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each balance sheet date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to achieve a market vesting condition. |
The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one or other of the parties (such as the Company keeping the scheme open or the employee maintaining any contributions required by the scheme). |
Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to profit or loss over the remaining vesting period. |
Where equity instruments are granted to persons other than employees, profit or loss is charged with fair value of goods and services received. |
Shares for which an option is granted are issued by the ultimate parent company and no consideration is given by the company in respect of those options. A corresponding credit is recognised in retained. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Other debtors |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
6. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal |
value: | £ |
Ordinary share capital | 10 | 1,000 |
100 Ordinary share capital shares of 10 each were allotted and fully paid for |
H1 LIFE SCIENCES LIMITED (REGISTERED NUMBER: 13612057) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 9 SEPTEMBER 2021 TO 31 DECEMBER 2022 |
7. | RESERVES |
Retained |
earnings |
£ |
Profit for the period |
At 31 December 2022 |
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
9. | RELATED PARTY DISCLOSURES |
Amounts owed to group undertakings, H1 Insights Inc. is of GBP 48,770. |
10. | ULTIMATE CONTROLLING PARTY |
H1 Insights, Inc. (incorporated in United States of America) is regarded by the directors as being the company`s ultimate parent company. |
The largest and smallest group in which the results of the company are consolidated is that by H1 Insights, Inc. incorporated in the United States of America, with its principle place of business at 386 Park Ave S FL 5, New York City, NY 10016, U.S.A. |