Apricity Fertility UK Limited 11402698 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is to provide services within the fertility sector Digita Accounts Production Advanced 6.30.9574.0 true false true 11402698 2023-01-01 2023-12-31 11402698 2023-12-31 11402698 bus:OrdinaryShareClass1 2023-12-31 11402698 core:CurrentFinancialInstruments 2023-12-31 11402698 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 11402698 core:WithinOneYear 2023-12-31 11402698 core:FurnitureFittingsToolsEquipment 2023-12-31 11402698 bus:SmallEntities 2023-01-01 2023-12-31 11402698 bus:Audited 2023-01-01 2023-12-31 11402698 bus:FullAccounts 2023-01-01 2023-12-31 11402698 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 11402698 bus:RegisteredOffice 2023-01-01 2023-12-31 11402698 bus:Director4 2023-01-01 2023-12-31 11402698 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 11402698 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11402698 core:ComputerEquipment 2023-01-01 2023-12-31 11402698 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 11402698 core:UKTax 2023-01-01 2023-12-31 11402698 1 2023-01-01 2023-12-31 11402698 countries:EnglandWales 2023-01-01 2023-12-31 11402698 2022-12-31 11402698 core:FurnitureFittingsToolsEquipment 2022-12-31 11402698 2022-01-01 2022-12-31 11402698 2022-12-31 11402698 bus:OrdinaryShareClass1 2022-12-31 11402698 core:CurrentFinancialInstruments 2022-12-31 11402698 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 11402698 core:WithinOneYear 2022-12-31 11402698 core:FurnitureFittingsToolsEquipment 2022-12-31 11402698 core:UKTax 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 11402698

Apricity Fertility UK Limited

Annual Report and Financial Statements

for the Year Ended 31 December 2023

Pages for Filing with Registrar

 

Apricity Fertility UK Limited

(Registration number: 11402698)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

7

21,622

30,886

Current assets

 

Debtors

8

739,090

900,581

Cash at bank and in hand

 

143,180

204,217

 

882,270

1,104,798

Creditors: Amounts falling due within one year

9

(7,988,881)

(4,736,287)

Net current liabilities

 

(7,106,611)

(3,631,489)

Net liabilities

 

(7,084,989)

(3,600,603)

Capital and reserves

 

Called up share capital

10

4,475,576

4,475,576

Retained earnings

(11,560,565)

(8,076,179)

Shareholders' deficit

 

(7,084,989)

(3,600,603)

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 10 July 2024 and signed on its behalf by:
 

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

M S Chacksfield
Director

 

Apricity Fertility UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

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:
1 Chapel Street
Warwick
Warwickshire
CV34 4HL
United Kingdom

Principal activity

The principal activity of the company is to provide services within the fertility sector.

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 were 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 that as disclosed in the accounting policies certain items are shown at fair value.

Group accounts not prepared

Group accounts have not been prepared as it is a small group.

Going concern

The company made a loss in the period and has net current liabilities. The company is dependent on the support of its parent company to continue as a going concern.

The financial statements have been prepared on a going concern basis that assumes further funding will be obtained.

 

Apricity Fertility UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

Turnover recognition

Turnover comprises the fair value of the consideration received or receivable for the 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.

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 rates prevailing on the initial transaction dates.

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

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 income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the new carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

 

Apricity Fertility UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

Tangible assets

Tangible assets are stated in the statement of financial position 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:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

3 years straight line

Financial instruments

The Company only enters into basic financial instrument transactions 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 non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Apricity Fertility UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Significant judgements and estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion there are no significant judgements or key sources of estimation uncertainty.

 

Apricity Fertility UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

4

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 10 July 2024 was David Wheeler, who signed for and on behalf of Bourner Bullock.

5

Staff numbers

The average number of persons employed by the Company (including directors) during the year, was 32 (2022 - 30).

6

Taxation

Tax charged/(credited) in the profit and loss account

2023
£

2022
£

Current taxation

UK corporation tax adjustment to prior periods

(103,116)

-

The tax on profit before tax for the year is higher than the standard rate of corporation tax in the UK (2022 - higher than the standard rate of corporation tax in the UK) of 19% (2022 - 19%).

The differences are reconciled below:

2023
£

2022
£

Loss before tax

(3,587,502)

(3,504,799)

Corporation tax at standard rate

-

-

Tax decrease from effect of adjustment in research and development tax credit

(103,116)

-

Total tax credit

(103,116)

-

 

Apricity Fertility UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

7

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

62,266

62,266

Additions

12,120

12,120

At 31 December 2023

74,386

74,386

Depreciation

At 1 January 2023

31,379

31,379

Charge for the year

21,385

21,385

At 31 December 2023

52,764

52,764

Carrying amount

At 31 December 2023

21,622

21,622

At 31 December 2022

30,886

30,886

8

Debtors

2023
£

2022
£

Trade debtors

584,182

712,888

Prepayments

39,532

89,281

Other debtors

115,376

98,412

739,090

900,581

 

Apricity Fertility UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

9

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

482,579

388,838

Amounts owed to group undertakings

6,420,926

3,287,573

Taxation and social security

71,921

59,270

Other creditors

1,013,455

1,000,606

7,988,881

4,736,287

10

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

4,475,576

4,475,576

4,475,576

4,475,576

         

11

Dividends

There were no dividends paid or proposed in either the current year or the previous year.

12

Operating leases

The total of future minimum lease payments is as follows:

2023
 £

2022
 £

Not later than one year

96,000

49,400

13

Parent and ultimate parent undertaking

The Company's immediate parent is Apricity Fertility SAS, incorporated in France.