Caseware UK (AP4) 2023.0.135 2023.0.135 2023-08-312023-08-312024-05-0128402022-09-01falseNo description of principal activity1510truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10766569 2022-09-01 2023-08-31 10766569 2021-09-01 2022-08-31 10766569 2023-08-31 10766569 2022-08-31 10766569 c:Director5 2022-09-01 2023-08-31 10766569 d:Buildings 2022-09-01 2023-08-31 10766569 d:Buildings 2023-08-31 10766569 d:Buildings 2022-08-31 10766569 d:Buildings d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 10766569 d:Buildings d:LeasedAssetsHeldAsLessee 2022-09-01 2023-08-31 10766569 d:Buildings d:LongLeaseholdAssets 2022-09-01 2023-08-31 10766569 d:Buildings d:LongLeaseholdAssets 2023-08-31 10766569 d:Buildings d:LongLeaseholdAssets 2022-08-31 10766569 d:PlantMachinery 2022-09-01 2023-08-31 10766569 d:PlantMachinery 2023-08-31 10766569 d:PlantMachinery 2022-08-31 10766569 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 10766569 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-09-01 2023-08-31 10766569 d:FurnitureFittings 2022-09-01 2023-08-31 10766569 d:FurnitureFittings 2023-08-31 10766569 d:FurnitureFittings 2022-08-31 10766569 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 10766569 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2022-09-01 2023-08-31 10766569 d:ComputerEquipment 2022-09-01 2023-08-31 10766569 d:ComputerEquipment 2023-08-31 10766569 d:ComputerEquipment 2022-08-31 10766569 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 10766569 d:ComputerEquipment d:LeasedAssetsHeldAsLessee 2022-09-01 2023-08-31 10766569 d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 10766569 d:LeasedAssetsHeldAsLessee 2022-09-01 2023-08-31 10766569 d:PatentsTrademarksLicencesConcessionsSimilar 2023-08-31 10766569 d:PatentsTrademarksLicencesConcessionsSimilar 2022-08-31 10766569 d:ComputerSoftware 2023-08-31 10766569 d:ComputerSoftware 2022-08-31 10766569 d:CurrentFinancialInstruments 2023-08-31 10766569 d:CurrentFinancialInstruments 2022-08-31 10766569 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 10766569 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 10766569 d:ShareCapital 2023-08-31 10766569 d:ShareCapital 2022-08-31 10766569 d:SharePremium 2023-08-31 10766569 d:SharePremium 2022-08-31 10766569 d:RetainedEarningsAccumulatedLosses 2023-08-31 10766569 d:RetainedEarningsAccumulatedLosses 2022-08-31 10766569 c:OrdinaryShareClass1 2022-09-01 2023-08-31 10766569 c:OrdinaryShareClass1 2023-08-31 10766569 c:OrdinaryShareClass1 2022-08-31 10766569 c:FRS102 2022-09-01 2023-08-31 10766569 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 10766569 c:FullAccounts 2022-09-01 2023-08-31 10766569 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 10766569 d:WithinOneYear 2023-08-31 10766569 d:WithinOneYear 2022-08-31 10766569 d:BetweenOneFiveYears 2023-08-31 10766569 d:BetweenOneFiveYears 2022-08-31 10766569 d:MoreThanFiveYears 2023-08-31 10766569 d:MoreThanFiveYears 2022-08-31 10766569 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2022-09-01 2023-08-31 10766569 d:ComputerSoftware d:OwnedIntangibleAssets 2022-09-01 2023-08-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10766569









VISITHEALTH LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2023

 
VISITHEALTH LIMITED
REGISTERED NUMBER: 10766569

STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
127,961
170,691

Tangible assets
 5 
3,176,613
80,463

  
3,304,574
251,154

Current assets
  

Debtors: amounts falling due within one year
 6 
372,147
353,720

Cash at bank and in hand
 7 
1,322,192
24,371

  
1,694,339
378,091

Creditors: amounts falling due within one year
 8 
(4,836,162)
(305,179)

Net current (liabilities)/assets
  
 
 
(3,141,823)
 
 
72,912

Total assets less current liabilities
  
162,751
324,066

  

Net assets
  
162,751
324,066


Capital and reserves
  

Called up share capital 
 9 
1,236,284
1,112,101

Share premium account
  
4,204,393
2,828,576

Profit and loss account
  
(5,277,926)
(3,616,611)

  
162,751
324,066


Page 1

 
VISITHEALTH LIMITED
REGISTERED NUMBER: 10766569
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 AUGUST 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and 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 statement of comprehensive income 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 by: 




................................................
M Manko
Director

Date: 1 May 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
VISITHEALTH LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

Visithealth Limited is a private company limited by shares and incorporated in England & Wales (registered number 10766569). The registered office is 1 Blythe Road, London, England, W14 0HG.

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.

The following principal accounting policies have been applied:

 
2.2

Going concern

In assessing the ability of the company to operate as a going concern, management have evaluated current and forecasted operational results, and the solvency of the company. The directors have obtained assurances from the shareholders to continue to provide adequate funds to meet its obligations, and not to demand repayment of any funds due to them, until the company is in a financial position to do so. As a result, the directors consider it appropriate to prepare the financial statements on a going concern basis.
Accordingly the directors have continued to prepare the financial statements on the going concern basis.

 
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:

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

 
VISITHEALTH LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

 
2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
VISITHEALTH LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
7%
Reducing balance
Long-term leasehold property
-
4%
SL over the life of the lease
Medical Equipment
-
15%
Reducing balance
Fixtures and fittings
-
25%
Reducing balance
Computer equipment
-
25%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

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.

 
2.12

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 15 (2022 - 10).

Page 5

 
VISITHEALTH LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

4.


Intangible assets




Patents
Computer software
Total

£
£
£



Cost


At 1 September 2022
2,684
324,234
326,918



At 31 August 2023

2,684
324,234
326,918



Amortisation


At 1 September 2022
1,838
154,389
156,227


Charge for the year on owned assets
268
42,461
42,729



At 31 August 2023

2,106
196,850
198,956



Net book value



At 31 August 2023
578
127,384
127,962



At 31 August 2022
846
169,845
170,691




5.


Tangible fixed assets





Freehold property
Long-term leasehold property
Plant and machinery
Fixtures and fittings
Computer equipment

£
£
£
£
£



Cost or valuation


At 1 September 2022
-
54,685
40,351
2,377
17,191


Additions
1,655,388
16,318
1,412,229
4,100
15,624



At 31 August 2023

1,655,388
71,003
1,452,580
6,477
32,815



Depreciation


At 1 September 2022
-
1,458
18,957
1,569
12,157


Charge for the year on owned assets
-
-
3,209
202
1,258


Charge for the year on financed assets
-
2,840
-
-
-
Page 6

 
VISITHEALTH LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

           5.Tangible fixed assets (continued)




At 31 August 2023

-
4,298
22,166
1,771
13,415



Net book value



At 31 August 2023
1,655,388
66,705
1,430,414
4,706
19,400



At 31 August 2022
-
53,227
21,394
808
5,034

Total

£



Cost or valuation


At 1 September 2022
114,604


Additions
3,103,659



At 31 August 2023

3,218,263



Depreciation


At 1 September 2022
34,141


Charge for the year on owned assets
4,669


Charge for the year on financed assets
2,840



At 31 August 2023

41,650



Net book value



At 31 August 2023
3,176,613



At 31 August 2022
80,463

Page 7

 
VISITHEALTH LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

6.


Debtors

2023
2022
£
£


Trade debtors
6,076
3,740

Other debtors
308,662
304,014

Called up share capital not paid
100
100

Prepayments and accrued income
57,309
45,866

372,147
353,720



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,322,192
24,371

Less: bank overdrafts
(3,321)
-

1,318,871
24,371



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
3,321
-

Trade creditors
789,322
102,879

Other taxation and social security
21,667
15,277

Other creditors
3,818,799
848

Accruals and deferred income
203,053
186,175

4,836,162
305,179



9.


Share capital

2023
2022
£
£
Allotted, called up and partly paid



1,236,284 (2022 - 1,112,101) Ordinary shares of £1.00 each
1,236,284
1,112,101

On 29 March 2023, 124,183 Ordinary shares of £1 each were issued at a premium of £12.08 per share.


Page 8

 
VISITHEALTH LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

10.


Pension commitments

The company operates a defined contributions pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year. 


11.


Commitments under operating leases

At 31 August 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
100,000
100,000

Later than 1 year and not later than 5 years
1,050,000
1,050,000

Later than 5 years
5,800,000
5,800,000

6,950,000
6,950,000


12.


Related party transactions

Included in other creditors is an amount of £1,822,000 due to the directors of the company.


13.


Controlling party

The company is controlled by the directors. 

 
Page 9