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Registration number: 13746462

Health on Cloud UK Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

Health on Cloud UK Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Health on Cloud UK Ltd

(Registration number: 13746462)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

461

-

Current assets

 

Debtors

5

130,000

13

Cash at bank and in hand

 

2,951

17,406

 

132,951

17,419

Creditors: Amounts falling due within one year

6

(129,062)

(80,808)

Net current assets/(liabilities)

 

3,889

(63,389)

Total assets less current liabilities

 

4,350

(63,389)

Provisions for liabilities

(115)

-

Net assets/(liabilities)

 

4,235

(63,389)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

4,135

(63,489)

Shareholders' funds/(deficit)

 

4,235

(63,389)

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 23 August 2024
 

 

Health on Cloud UK Ltd

(Registration number: 13746462)
Balance Sheet as at 30 November 2023

.........................................
Dr R J Mackinnon
Director

   
     
 

Health on Cloud UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Manchester Technology Centre, 103, Oxford House
Oxford Road
Manchester
M1 7ED

These financial statements were authorised for issue by the director on 23 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

At the balance sheet date, the company's liabilities exceeded its assets. The company has a good working relationship with its creditors and received assurances from the directors that they will continue to give financial support to the company for twelve months from the date of signing these financial statements.

On this basis, the directors consider it appropriate to prepare the accounts on the going concern basis. However, should the financial support mentioned above not be forthcoming the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and provide for any further liabilities which might arise. The accounts do not include any adjustment to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate.

 

Health on Cloud UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Health on Cloud UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Health on Cloud UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

638

638

At 30 November 2023

638

638

Depreciation

Charge for the year

177

177

At 30 November 2023

177

177

Carrying amount

At 30 November 2023

461

461

5

Debtors

Current

2023
£

2022
£

Prepayments

-

13

Other debtors

130,000

-

 

130,000

13

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

119,901

69,901

Taxation and social security

 

3,225

4,465

Accruals and deferred income

 

4,166

4,584

Other creditors

 

1,770

1,858

 

129,062

80,808

 

Health on Cloud UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

7

Parent and ultimate parent undertaking

The company's immediate parent is Health on Cloud. Ltd, incorporated in South Korea.

  These financial statements are available upon request from 1F (Yeoksam-Dong, Tabish Building) 16, Bongeunsa-Ro 16 Gil Gangnam-Gu, Seoul, South Korea.