Jumo Health Limited 06608093 false 2022-01-01 2022-12-31 2022-12-31 The principal activity of the company is The principal activity of the company during the year was that of publishing educational material. Digita Accounts Production Advanced 6.30.9574.0 true false true 06608093 2022-01-01 2022-12-31 06608093 2022-12-31 06608093 core:CurrentFinancialInstruments 2022-12-31 06608093 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 06608093 bus:SmallEntities 2022-01-01 2022-12-31 06608093 bus:Audited 2022-01-01 2022-12-31 06608093 bus:FilletedAccounts 2022-01-01 2022-12-31 06608093 bus:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 06608093 bus:RegisteredOffice 2022-01-01 2022-12-31 06608093 bus:Director7 2022-01-01 2022-12-31 06608093 bus:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 06608093 bus:Agent1 2022-01-01 2022-12-31 06608093 1 2022-01-01 2022-12-31 06608093 countries:AllCountries 2022-01-01 2022-12-31 06608093 countries:EnglandWales 2022-01-01 2022-12-31 06608093 2021-01-01 2021-12-31 06608093 2021-12-31 06608093 core:CurrentFinancialInstruments 2021-12-31 06608093 core:CurrentFinancialInstruments core:WithinOneYear 2021-12-31 iso4217:GBP xbrli:pure

Registration number: 06608093

Jumo Health Limited

Financial Statements

for the Year Ended 31 December 2022

Brebners
Chartered Accountants & Statutory Auditor
130 Shaftesbury Avenue
London
W1D 5AR

 

Jumo Health Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3 to 5

 

Jumo Health Limited

Company Information

Director

K Aniskovich

Registered office

125 Wood Street
London
EC2V 7AW

Bankers

HSBC Bank PLC
Guildford High Street
Guildford
Surrey
GU1 3YU

Auditor

Brebners
Chartered Accountants & Statutory Auditor
130 Shaftesbury Avenue
London
W1D 5AR

 

Jumo Health Limited

Statement of Financial Position as at 31 December 2022

Note

2022
£

(As restated)

2021
£

Current assets

 

Debtors

5

6,000

6,000

Cash at bank and in hand

 

2,882

8,577

 

8,882

14,577

Creditors: Amounts falling due within one year

6

(2,071,364)

(1,883,150)

Net liabilities

 

(2,062,482)

(1,868,573)

Capital and reserves

 

Called up share capital

3,068

3,068

Share premium reserve

2,064,516

2,064,516

Capital contribution reserve

145,013

101,543

Retained earnings

(4,275,079)

(4,037,700)

Shareholders' deficit

 

(2,062,482)

(1,868,573)

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

Approved and authorised by the director on 8 August 2024
 

.........................................

K Aniskovich

Director

Company registration number: 06608093

 

Jumo Health Limited

Notes to the Financial Statements for the Year Ended 31 December 2022

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
125 Wood Street
London
EC2V 7AW

The principal activity of the company during the year was that of publishing educational material.

2

Audit Report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 8 August 2024 was Martin Widdowson, who signed for and on behalf of Brebners.

3

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The statement of financial position at 31 December 2022 showed a deficiency of assets of £2,062,482. At this date an amount of £2,041,261 was due to group undertakings who have confirmed their continued support and agreed not to call for repayment of the amounts due until such time as the company has sufficient working capital and to advance further amounts as required to meet the company's ongoing administrative expenses.

After making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, he continues to adopt the going concern basis in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the services provided in connection with the publication of material in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts and recognised in the period in which services are provided.

The company recognises revenue from services provided evenly over the period in which the services are paid.

 

Jumo Health Limited

Notes to the Financial Statements for the Year Ended 31 December 2022

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Share based payments

The company has historically issued equity-settled payments to certain employees, settled with options in shares of the parent company. Equity-settled share based payments are measured at fair value at the date of grant, and charged to the Statement of Income and Retained Equity. The fair value determined at the grant date of the equity-settled share based payments is expensed as vesting criteria are met over the vesting period, together with a corresponding increase in equity, based on the company's estimate of the shares that will eventually vest.

Fair value is measured using the Black Scholes Pricing Model. The expected life used in the model has been adjusted, based on the director's best estimate, for the effects of non-transferability, exercise restrictions and behavioural considerations.

Where the terms of an equity-settled transaction are modified, as a minimum an expense is recognised as if the terms had not been modified. In addition, an expense is recognised for any increase in the value of the transaction as a result of the modification, as measured at the date of modification.

Where an equity-settled transaction is cancelled, it is treated as if it has vested on the date of the cancellation, and any expense not yet recognised for the transaction is recognised immediately. However, if a new transaction is substituted for the cancelled transaction, and designated as a replacement transaction on the date it is granted, the cancelled and new transactions are treated as if they were a modification of the original transaction, as described in the previous paragraph.

The fair value of the equity-settled share based payments are treated as capital contributions to equity by the parent undertaking.

4

Staff numbers

The average number of persons employed by the company during the year, was 4 (2021 - 3).

5

Debtors

2022
£

2021
£

Other debtors

6,000

6,000

6,000

6,000

 

Jumo Health Limited

Notes to the Financial Statements for the Year Ended 31 December 2022

6

Creditors

Creditors: amounts falling due within one year

2022
£

2021
£

Amounts owed to group undertakings

2,041,261

1,866,933

Taxation and social security

30,049

13,980

Other creditors

54

2,237

2,071,364

1,883,150

7

Related party transactions

Exemption has been taken under FRS102 paragraph 1AC.35 not to disclose transactions or amounts falling due with companies wholly owned within the group.

8

Relationship between entity and parents

The parent of the smallest group preparing group accounts including the results of the company is headed by Jumo Health Inc., incorporated in USA.

The registered address of Jumo Health Inc. is 470 James Street, Suite 232, New Haven, Connecticut 06513

9

Prior period adjustment

During the year the director identified that the financial effects of equity settled payments to certain employees in the previous year have not been reflected in the financial statements. This has been corrected in the current year and the comparatives have been restated.

Net liabilities at 31 December 2021 are unaltered from that previously stated and the loss for the year there ended is £83,333 greater than previously stated.