Caseware UK (AP4) 2023.0.135 2023.0.135 2023-01-01false2Software development1falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 13365509 2023-01-01 2023-12-31 13365509 2022-05-01 2022-12-31 13365509 2023-12-31 13365509 2022-12-31 13365509 2022-05-01 13365509 1 2023-01-01 2023-12-31 13365509 1 2022-05-01 2022-12-31 13365509 d:Director2 2023-01-01 2023-12-31 13365509 e:CurrentFinancialInstruments 2023-12-31 13365509 e:CurrentFinancialInstruments 2022-12-31 13365509 e:CurrentFinancialInstruments e:WithinOneYear 2023-12-31 13365509 e:CurrentFinancialInstruments e:WithinOneYear 2022-12-31 13365509 e:ShareCapital 2023-01-01 2023-12-31 13365509 e:ShareCapital 2023-12-31 13365509 e:ShareCapital 2022-12-31 13365509 e:ShareCapital 2022-05-01 13365509 e:SharePremium 2023-01-01 2023-12-31 13365509 e:SharePremium 2023-12-31 13365509 e:SharePremium 1 2023-01-01 2023-12-31 13365509 e:SharePremium 2022-12-31 13365509 e:ForeignCurrencyTranslationReserve 2023-01-01 2023-12-31 13365509 e:OtherMiscellaneousReserve 2023-01-01 2023-12-31 13365509 e:OtherMiscellaneousReserve 2023-12-31 13365509 e:OtherMiscellaneousReserve 1 2023-01-01 2023-12-31 13365509 e:OtherMiscellaneousReserve 2022-12-31 13365509 e:OtherMiscellaneousReserve 2022-05-01 13365509 e:OtherMiscellaneousReserve 1 2022-05-01 2022-12-31 13365509 e:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 13365509 e:RetainedEarningsAccumulatedLosses 2023-12-31 13365509 e:RetainedEarningsAccumulatedLosses 1 2023-01-01 2023-12-31 13365509 e:RetainedEarningsAccumulatedLosses 2022-05-01 2022-12-31 13365509 e:RetainedEarningsAccumulatedLosses 2022-12-31 13365509 e:RetainedEarningsAccumulatedLosses 2022-05-01 13365509 e:RetainedEarningsAccumulatedLosses 1 2022-05-01 2022-12-31 13365509 d:FRS102 2023-01-01 2023-12-31 13365509 d:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 13365509 d:FullAccounts 2023-01-01 2023-12-31 13365509 d:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13365509 6 2023-01-01 2023-12-31 13365509 f:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 13365509










October Health Limited (formerly Panda Technology Holdings Limited)








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 31 December 2023

 
October Health Limited
 
  
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of October Health Limited for the year ended 31 December 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of October Health Limited for the year ended 31 December 2023 which comprise  the Balance sheet, the Statement of changes in equity and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of October Health Limited, as a body, in accordance with the terms of our engagement letter dated 12/05/2021Our work has been undertaken solely to prepare for your approval the financial statements of October Health Limited and state those matters that we have agreed to state to the Board of directors of October Health Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than October Health Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that October Health Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of October Health Limited. You consider that October Health Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of October Health Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
Chartered Accountants
2nd Floor
168 Shoreditch High Street
London
E1 6RA
1 July 2024
Page 1

 
October Health Limited
Registered number: 13365509

Balance sheet
As at 31 December 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
11
11

  
11
11

Current assets
  

Debtors: amounts falling due within one year
 5 
69,623
32,147

Cash at bank and in hand
 6 
770,197
807,616

  
839,820
839,763

Creditors: amounts falling due within one year
 7 
(76,270)
(28,492)

Net current assets
  
 
 
763,550
 
 
811,271

Total assets less current liabilities
  
763,561
811,282

  

Net assets
  
763,561
811,282


Capital and reserves
  

Called up share capital 
  
737,879
576,284

Share premium account
 8 
2,671,640
-

Other equity reserves
 8 
-
1,646,606

Profit and loss account
 8 
(2,645,958)
(1,411,608)

  
763,561
811,282


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: 



Alon Lits
Director
Date: 1 July 2024

The notes on pages 5 to 8 form part of these financial statements.

Page 2

 
October Health Limited
 

Statement of changes in equity
For the year ended 31 December 2023


Called up share capital
Share premium account
Other equity reserves
Profit and loss account
Total equity

£
£
£
£
£

At 1 January 2023
576,284
-
1,646,606
(1,411,608)
811,282


Comprehensive income for the year

Loss for the year
-
-
-
(1,234,350)
(1,234,350)

Advanced share subscription
-
-
(1,646,606)
-
(1,646,606)


Contributions by and distributions to owners

Shares issued during the year
161,595
2,671,640
-
-
2,833,235


At 31 December 2023
737,879
2,671,640
-
(2,645,958)
763,561


The notes on pages 5 to 8 form part of these financial statements.

Page 3

 
October Health Limited
 

Statement of changes in equity
For the year ended 31 December 2022


Called up share capital
Other reserves
Profit and loss account
Total equity

£
£
£
£

At 1 May 2022
576,284
536,747
(633,217)
479,814


Comprehensive income for the period

Loss for the period
-
-
(778,391)
(778,391)

Advanced share subscription
-
1,109,859
-
1,109,859


At 31 December 2022
576,284
1,646,606
(1,411,608)
811,282


The notes on pages 5 to 8 form part of these financial statements.

Page 4

 
October Health Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

1.


General information

October Health Limited is a limited company incorporated and domiciled in England & Wales. The address of its registered office and principal place of business is disclosed on the company information page. The companys principal activity is that of software development.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

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.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

Page 5

 
October Health Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.5

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.

 
2.6

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.

 
2.7

Financial instruments

The Company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.8

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.

 
2.9

Development costs

Development costs are expensed through the statement of comprehensive income as they are incurred.

 
2.10

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 6

 
October Health Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

3.


Employees

2023
2022
£
£

Wages and salaries
18,750
-

18,750
-


The average monthly number of employees, including directors, during the year was 2 (2022 - 1).


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
11



At 31 December 2023
11





5.


Debtors

2023
2022
£
£


Trade debtors
8,478
-

Amounts owed by group undertakings
-
3,292

Other debtors
-
6,385

Called up share capital not paid
-
17,289

Prepayments and accrued income
61,145
5,181

69,623
32,147



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
770,197
807,616

770,197
807,616


Page 7

 
October Health Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
47,617
1,599

Other taxation and social security
2,746
-

Accruals and deferred income
25,907
26,893

76,270
28,492



8.


Reserves

Share capital

This represents the nominal value of shares that have been issued by the company.

Share premium

This represents consideration received for shares above their nominal value bet of transaction costs.

Other reserves

This represents amounts received as part of an advanced subscription agreement of shares

Profit and loss account

This reserve comprises all current and prior period retained profits and losses after deducting and distributions made to the company's shareholders


9.


Related party transactions

During the year the company was charged fees of £1,061,597 (2022 £680,296) at market value from Panda Technology South Africa (Pty) Ltd a 100% owned subsidary. As at 30 December 2023 the company was owed £Nil (2022 £3,292).


10.


Controlling party

No one party controls the company


Page 8