Registration number:
Jumo Health Limited
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Brebners
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Jumo Health Limited
Contents
Company Information |
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Statement of Financial Position |
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Notes to the Financial Statements |
Jumo Health Limited
Company Information
Director |
K Aniskovich |
Registered office |
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Bankers |
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Auditor |
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Jumo Health Limited
Statement of Financial Position as at 31 December 2022
Note |
2022 |
(As restated) |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
3,068 |
3,068 |
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Share premium reserve |
2,064,516 |
2,064,516 |
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Capital contribution reserve |
145,013 |
101,543 |
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Retained earnings |
(4,275,079) |
(4,037,700) |
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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
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K Aniskovich
Director
Company registration number: 06608093
Jumo Health Limited
Notes to the Financial Statements for the Year Ended 31 December 2022
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal activity of the company during the year was that of publishing educational material.
Audit Report |
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
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.
Staff numbers |
The average number of persons employed by the company during the year, was
Debtors |
2022 |
2021 |
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Other debtors |
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Jumo Health Limited
Notes to the Financial Statements for the Year Ended 31 December 2022
Creditors |
Creditors: amounts falling due within one year
2022 |
2021 |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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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.
Relationship between entity and parents |
The parent of the smallest group preparing group accounts including the results of the company is headed by
The registered address of Jumo Health Inc. is
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.