Silverfin false 31/03/2023 01/04/2022 31/03/2023 Dr M K Molyneux 25/05/2019 Dr N Rasburn 25/05/2019 21 October 2023 The principal activity of the Company during the financial year was that of specialist medical practice activities. 12018020 2023-03-31 12018020 bus:Director1 2023-03-31 12018020 bus:Director2 2023-03-31 12018020 2022-03-31 12018020 core:CurrentFinancialInstruments 2023-03-31 12018020 core:CurrentFinancialInstruments 2022-03-31 12018020 core:ShareCapital 2023-03-31 12018020 core:ShareCapital 2022-03-31 12018020 core:RetainedEarningsAccumulatedLosses 2023-03-31 12018020 core:RetainedEarningsAccumulatedLosses 2022-03-31 12018020 core:PlantMachinery 2022-03-31 12018020 core:OfficeEquipment 2022-03-31 12018020 core:PlantMachinery 2023-03-31 12018020 core:OfficeEquipment 2023-03-31 12018020 core:CurrentFinancialInstruments 1 2023-03-31 12018020 core:CurrentFinancialInstruments 1 2022-03-31 12018020 2022-04-01 2023-03-31 12018020 bus:FullAccounts 2022-04-01 2023-03-31 12018020 bus:SmallEntities 2022-04-01 2023-03-31 12018020 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 12018020 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 12018020 bus:Director1 2022-04-01 2023-03-31 12018020 bus:Director2 2022-04-01 2023-03-31 12018020 core:PlantMachinery 2022-04-01 2023-03-31 12018020 core:OfficeEquipment 2022-04-01 2023-03-31 12018020 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure

Company No: 12018020 (England and Wales)

GLANSO UK LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

GLANSO UK LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

GLANSO UK LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2023
GLANSO UK LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2023
DIRECTORS Dr M K Molyneux
Dr N Rasburn
REGISTERED OFFICE PO BOX 416 Atherton House
Hollybush Lane
Bristol
BS9 1JB
United Kingdom
COMPANY NUMBER 12018020 (England and Wales)
CHARTERED ACCOUNTANTS Albert Goodman LLP
3 Filers Way
Weston Gateway Business Park
Weston-super-Mare
Somerset
BS24 7JP
BANKERS National Westminster Bank Plc
Bristol, Queens Road
40 Queens Road
Bristol
BS8 1BF
GLANSO UK LIMITED

BALANCE SHEET

As at 31 March 2023
GLANSO UK LIMITED

BALANCE SHEET (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 2,714 937
2,714 937
Current assets
Debtors 4 647,707 610,069
Cash at bank and in hand 407,020 273,126
1,054,727 883,195
Creditors: amounts falling due within one year 5 ( 640,296) ( 557,071)
Net current assets 414,431 326,124
Total assets less current liabilities 417,145 327,061
Net assets 417,145 327,061
Capital and reserves
Called-up share capital 160 160
Profit and loss account 416,985 326,901
Total shareholders' funds 417,145 327,061

For the financial year ending 31 March 2023 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 Glanso UK Limited (registered number: 12018020) were approved and authorised for issue by the Board of Directors on 21 October 2023. They were signed on its behalf by:

Dr M K Molyneux
Director
Dr N Rasburn
Director
GLANSO UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
GLANSO UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
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

Glanso UK 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 PO BOX 416 Atherton House, Hollybush Lane, Bristol, BS9 1JB, 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 £.

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 Balance Sheet.

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 Balance Sheet date. Tax is recognised in the profit and loss account, 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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 25 % reducing balance
Office equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 347 194

3. Tangible assets

Plant and machinery Office equipment Total
£ £ £
Cost
At 01 April 2022 0 999 999
Additions 864 1,399 2,263
At 31 March 2023 864 2,398 3,262
Accumulated depreciation
At 01 April 2022 0 62 62
Charge for the financial year 18 468 486
At 31 March 2023 18 530 548
Net book value
At 31 March 2023 846 1,868 2,714
At 31 March 2022 0 937 937

4. Debtors

2023 2022
£ £
Trade debtors 637,021 412,222
Short term loans to Group companies 0 84,100
Other debtors 10,686 113,747
647,707 610,069

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 308,334 105,690
Amounts owed to Group undertakings 153,190 300,752
Taxation and social security 174,325 141,991
Other creditors 4,447 8,638
640,296 557,071