Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-31true2022-01-01No description of principal activity22truetrue 07535949 2022-01-01 2022-12-31 07535949 2021-01-01 2021-12-31 07535949 2022-12-31 07535949 2021-12-31 07535949 c:Director2 2022-01-01 2022-12-31 07535949 d:CurrentFinancialInstruments 2022-12-31 07535949 d:CurrentFinancialInstruments 2021-12-31 07535949 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 07535949 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 07535949 d:ShareCapital 2022-12-31 07535949 d:ShareCapital 2021-12-31 07535949 d:RetainedEarningsAccumulatedLosses 2022-12-31 07535949 d:RetainedEarningsAccumulatedLosses 2021-12-31 07535949 c:EntityNoLongerTradingButTradedInPast 2022-01-01 2022-12-31 07535949 c:FRS102 2022-01-01 2022-12-31 07535949 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 07535949 c:FullAccounts 2022-01-01 2022-12-31 07535949 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Registered number: 07535949










GALAXE.HEALTHCARE SOLUTIONS UK LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022

 
GALAXE.HEALTHCARE SOLUTIONS UK LTD
REGISTERED NUMBER: 07535949

BALANCE SHEET
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

  

Current assets
  

Cash at bank and in hand
 3 
4,308
1,034

  
4,308
1,034

Creditors: amounts falling due within one year
 4 
(611,842)
(608,568)

Net current liabilities
  
 
 
(607,534)
 
 
(607,534)

Total assets less current liabilities
  
(607,534)
(607,534)

  

Net liabilities
  
(607,534)
(607,534)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(607,535)
(607,535)

  
(607,534)
(607,534)


For the year ended 31 December 2022 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.

Members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 19 October 2023.



S Weiss
Director

The notes on pages 3 to 5 form part of these financial statements.
Page 1

 
GALAXE.HEALTHCARE SOLUTIONS UK LTD
REGISTERED NUMBER: 07535949
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2022


Page 2

 
GALAXE.HEALTHCARE SOLUTIONS UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

Galaxe.Healthcare Solutions UK Ltd is a private company limited by shares, incorporated in the United Kingdom and registered in England and Wales. The address of the registered office is 89 Spa Road, London, SE16 3SG.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

 
2.2

Going concern

During the year the company did not trade (2021: profit of £3,079) and at the balannce sheet date the company's liabilities exceeded its assets by £607,534 (2021: £607,534). The financial statements have been prepared on a going concern basis which assumes the continuation of the support of its directors and immediate parent company GalaxE.Healthcare Solutions Inc.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
GALAXE.HEALTHCARE SOLUTIONS UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.4

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.5

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an 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.


3.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
4,309
1,034

4,309
1,034



4.


Creditors: Amounts falling due within one year

2022
2021
£
£

Trade creditors
-
522

Amounts owed to group undertakings
611,842
604,446

Accruals and deferred income
-
3,600

611,842
608,568


Page 4

 
GALAXE.HEALTHCARE SOLUTIONS UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

5.


Related party transactions

Included in creditors as at 31 December 2022 is an amount of £611,842 (2021: £599,886) due to its immediate parent and an amount of £nil (2021: £4,560) due to fellow subsidiary company GalaxE.Healthcare Solutions Ireland Limited.


6.


Controlling party

The company's immediate parent company is GalaxE.Healthcare Solutions Inc., a company incorporated in the USA. The company's results are consolidated with those of the ultimate parent company GalaxE Group Inc which is registered in the USA and whose registered address is 270 Davidson Ave, Somerset, New Jersey 08873, USA. The ultimate controlling party is director T M Bryan.

Page 5