Silverfin false 31/10/2022 01/11/2021 31/10/2022 B J P Harrison 01/05/2020 J A Lamb 01/05/2020 N Nabarro 04/10/2016 I M Twisleton-Wykeham-Fiennes 16/09/2020 20 October 2023 The principal activity of the company in the year was that of an online mindhealth platform. 10410380 2022-10-31 10410380 bus:Director1 2022-10-31 10410380 bus:Director2 2022-10-31 10410380 bus:Director3 2022-10-31 10410380 bus:Director4 2022-10-31 10410380 2021-10-31 10410380 core:CurrentFinancialInstruments 2022-10-31 10410380 core:CurrentFinancialInstruments 2021-10-31 10410380 core:Non-currentFinancialInstruments 2022-10-31 10410380 core:Non-currentFinancialInstruments 2021-10-31 10410380 core:ShareCapital 2022-10-31 10410380 core:ShareCapital 2021-10-31 10410380 core:SharePremium 2022-10-31 10410380 core:SharePremium 2021-10-31 10410380 core:OtherCapitalReserve 2022-10-31 10410380 core:OtherCapitalReserve 2021-10-31 10410380 core:RetainedEarningsAccumulatedLosses 2022-10-31 10410380 core:RetainedEarningsAccumulatedLosses 2021-10-31 10410380 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2021-10-31 10410380 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2021-10-31 10410380 core:OtherResidualIntangibleAssets 2021-10-31 10410380 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-10-31 10410380 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2022-10-31 10410380 core:OtherResidualIntangibleAssets 2022-10-31 10410380 core:OtherPropertyPlantEquipment 2021-10-31 10410380 core:OtherPropertyPlantEquipment 2022-10-31 10410380 bus:OrdinaryShareClass1 2022-10-31 10410380 2021-11-01 2022-10-31 10410380 bus:FullAccounts 2021-11-01 2022-10-31 10410380 bus:SmallEntities 2021-11-01 2022-10-31 10410380 bus:AuditExemptWithAccountantsReport 2021-11-01 2022-10-31 10410380 bus:PrivateLimitedCompanyLtd 2021-11-01 2022-10-31 10410380 bus:Director1 2021-11-01 2022-10-31 10410380 bus:Director2 2021-11-01 2022-10-31 10410380 bus:Director3 2021-11-01 2022-10-31 10410380 bus:Director4 2021-11-01 2022-10-31 10410380 core:DevelopmentCostsCapitalisedDevelopmentExpenditure core:TopRangeValue 2021-11-01 2022-10-31 10410380 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill core:TopRangeValue 2021-11-01 2022-10-31 10410380 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2021-11-01 2022-10-31 10410380 core:OtherPropertyPlantEquipment core:TopRangeValue 2021-11-01 2022-10-31 10410380 2020-11-01 2021-10-31 10410380 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2021-11-01 2022-10-31 10410380 core:OtherResidualIntangibleAssets 2021-11-01 2022-10-31 10410380 core:OtherPropertyPlantEquipment 2021-11-01 2022-10-31 10410380 core:Non-currentFinancialInstruments 2021-11-01 2022-10-31 10410380 bus:OrdinaryShareClass1 2021-11-01 2022-10-31 10410380 bus:OrdinaryShareClass1 2020-11-01 2021-10-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 10410380 (England and Wales)

TELEDOCTOR LIMITED

Unaudited Financial Statements
For the financial year ended 31 October 2022
Pages for filing with the registrar

TELEDOCTOR LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2022

Contents

TELEDOCTOR LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 October 2022
TELEDOCTOR LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 October 2022
Note 2022 2021
£ £
Fixed assets
Intangible assets 3 950,764 276,173
Tangible assets 4 73,190 11,149
1,023,954 287,322
Current assets
Debtors 5 700,628 109,993
Cash at bank and in hand 879,197 704,767
1,579,825 814,760
Creditors: amounts falling due within one year 6 ( 647,059) ( 198,332)
Net current assets 932,766 616,428
Total assets less current liabilities 1,956,720 903,750
Creditors: amounts falling due after more than one year 7 ( 96,558) 0
Net assets 1,860,162 903,750
Capital and reserves
Called-up share capital 8 4 3
Share premium account 2,013,987 1,666,232
Other reserves 10 907,982 0
Profit and loss account ( 1,061,811 ) ( 762,485 )
Total shareholders' funds 1,860,162 903,750

For the financial year ending 31 October 2022 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Teledoctor Limited (registered number: 10410380) were approved and authorised for issue by the Director on 20 October 2023. They were signed on its behalf by:

B J P Harrison
Director
TELEDOCTOR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2022
TELEDOCTOR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2022
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Teledoctor Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 16 High Holborn High Holborn, London, WC1V 6BX, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The Company is supported through loans from the directors, who have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows. Assets under construction (other intangible assests) are not amortised:

Development costs 3 years straight line
Website costs 5 years straight line
Other intangible assets not amortised
Research and development

Research expenditure is written off as incurred. Development expenditure is also written off, except where the directors are satisfied as to the technical, commercial and financial viability of individual projects. In such cases, the identifiable expenditure is capitalised as an intangible asset and amortised over the period during which the Company is expected to benefit. This period is between three and five years. Provision is made for any impairment.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Plant and machinery etc. 3 years straight line
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 creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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 recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2022 2021
Number Number
Monthly average number of persons employed by the Company during the year, including directors 32 8

3. Intangible assets

Development costs Website costs Other intangible assets Total
£ £ £ £
Cost
At 01 November 2021 282,172 19,464 37,514 339,150
Additions 833,599 12,949 1,243 847,791
At 31 October 2022 1,115,771 32,413 38,757 1,186,941
Accumulated amortisation
At 01 November 2021 61,768 1,209 0 62,977
Charge for the financial year 167,347 5,853 0 173,200
At 31 October 2022 229,115 7,062 0 236,177
Net book value
At 31 October 2022 886,656 25,351 38,757 950,764
At 31 October 2021 220,404 18,255 37,514 276,173

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 November 2021 12,371 12,371
Additions 76,778 76,778
At 31 October 2022 89,149 89,149
Accumulated depreciation
At 01 November 2021 1,222 1,222
Charge for the financial year 14,737 14,737
At 31 October 2022 15,959 15,959
Net book value
At 31 October 2022 73,190 73,190
At 31 October 2021 11,149 11,149

5. Debtors

2022 2021
£ £
Trade debtors 391,321 1,652
Corporation tax 278,922 98,651
Other debtors 30,385 9,690
700,628 109,993

6. Creditors: amounts falling due within one year

2022 2021
£ £
Trade creditors 215,710 43,631
Accruals 238,913 107,449
Other taxation and social security 178,489 36,528
Other creditors 13,947 10,724
647,059 198,332

7. Creditors: amounts falling due after more than one year

2022 2021
£ £
Amounts owed to directors 96,558 0

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

2022 2021
£ £
Allotted, called-up and fully-paid
35,453 Ordinary shares of £ 0.0001 each (2021: 34,484 shares of £ 0.0001 each) 4 3

9. Related party transactions

At the balance sheet date £96,558 (2021: nil) was owed to a director. The loan bears interest at 12% and is repayable during the year ended 31 October 2024.

10. Other reserves

In the month prior to the balance sheet date, £907,982 was received in advance of a planned share issue. At year end the board had consented to the capital raise and the issue of subscription documents but the share certificates were not issued until 4 November 2022. It is the opinion of the directors that to present these monies in other reserves until conversion to share capital and share premium occurred gives a true and fair view of the company.