REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 December 2022 |
for |
Engage In-Health Limited |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 December 2022 |
for |
Engage In-Health Limited |
Engage In-Health Limited (Registered number: 10381885) |
Contents of the Financial Statements |
for the Year Ended 31 December 2022 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
Engage In-Health Limited |
Company Information |
for the Year Ended 31 December 2022 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SENIOR STATUTORY AUDITOR: |
AUDITORS: |
Chartered Accountants |
& Statutory Auditors |
1 Beauchamp Court |
10 Victors Way |
Barnet |
Hertfordshire |
EN5 5TZ |
Engage In-Health Limited (Registered number: 10381885) |
Statement of Financial Position |
31 December 2022 |
31.12.22 | 31.12.21 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Share premium | 8 |
Retained earnings | 8 |
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 |
Engage In-Health Limited (Registered number: 10381885) |
Notes to the Financial Statements |
for the Year Ended 31 December 2022 |
1. | STATUTORY INFORMATION |
Engage In-Health Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Turnover is recognised either during the provision of services or the commencement of contract. Turnover amounts are invoices in arrears, with amounts not invoiced for periods before the balance sheet date |
recorded as accrued income. Turnover is recognised as gross, as the company dares the risk of supply. |
Tangible fixed assets |
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. |
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: |
Plant and machinery - Straight line 3 - 5 years |
Engage In-Health Limited (Registered number: 10381885) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2022 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
Cash and cash equivalents |
Cash and cash equivalents comprises cash on hand and all deposits, and other short-term highly liquid |
investments that are readily convertible to a known amount of cash and are subject to and insignificant risk of change in value. |
Trade debtors |
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary |
course of business. Trade debtors are recognised initially at the transaction price. They are subsequently |
measured at amortised cost using the effective interest method less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables. |
Trade creditors |
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of |
business from suppliers. Accounts payables are classified as current liabilities of the company does not have an unconditional right at the end of the reporting period to refer settlements of the creditor for at least twelve |
months after the reporting date. If there is an unconditional right to defer settlements for at least twelve months after the reporting date they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. |
Taxation |
Taxation for the year 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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 year 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 statement of financial position 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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Engage In-Health Limited (Registered number: 10381885) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2022 |
2. | ACCOUNTING POLICIES - continued |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Provision |
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 the 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 end of the reporting period, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises. |
Employee benefits |
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service. |
Loans and borrowings |
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value. |
Impairment |
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Engage In-Health Limited (Registered number: 10381885) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2022 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
£ |
COST |
At 1 January 2022 |
Additions |
At 31 December 2022 |
DEPRECIATION |
At 1 January 2022 |
Charge for year |
At 31 December 2022 |
NET BOOK VALUE |
At 31 December 2022 |
At 31 December 2021 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.22 | 31.12.21 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Accrued revenue |
Prepayments |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.22 | 31.12.21 |
£ | £ |
Trade creditors |
Tax | ( |
) | ( |
) |
Social security and other taxes |
VAT | 215,087 | 85,250 |
Other creditors |
Accrued expenses |
Engage In-Health Limited (Registered number: 10381885) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2022 |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.22 | 31.12.21 |
value: | £ | £ |
Ordinary | 1p | 111 | 111 |
8. | RESERVES |
Retained | Share |
earnings | premium | Totals |
£ | £ | £ |
At 1 January 2022 | 1,017,968 |
Profit for the year |
At 31 December 2022 | 1,987,903 |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
10. | RELATED PARTY DISCLOSURES |
Included within other debtors is £1,036,502 being receivable from Fingerpaint Marketing Inc., the ultimate parent company. The amount is receivable within one year and no interest is being charged. |
Directors and key management personnel have not been remunerated for their services to the company. However, the directors and key management personal are remunerated by other related undertakings for their services. It is not possible to separately identify the amounts attributable for services rendered to the company. |
11. | PARENT COMPANY |
The directors regards Fingerpaint Marketing Inc. incorporated in the USA, as the immediate parent company and the ultimate parent company and the ultimate controlling party. |
The smallest and the largest group in which the results of the company are consolidated is Fingerpaint Marketing Inc., whose financial statements are publically available at its registered office. |
The consolidated financial statements of the group are available to the public and may be obtained from Fingerpaint Marketing Inc. 18 Division Street, Suite 212, Saratoga Springs, NY 12866, USA |
12. | CHARGES |
A fixed and floating charge in favour of Midcap Financial Trust have been registered over the assets of the company. |