Health Innovations (UK) Ltd 06200615 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is Manufacture of Basic Pharmaceutical Products. Digita Accounts Production Advanced 6.30.9574.0 true false true true 06200615 2023-01-01 2023-12-31 06200615 2023-12-31 06200615 core:CurrentFinancialInstruments 2023-12-31 06200615 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 06200615 core:Non-currentFinancialInstruments 2023-12-31 06200615 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 06200615 core:OtherPropertyPlantEquipment 2023-12-31 06200615 bus:SmallEntities 2023-01-01 2023-12-31 06200615 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 06200615 bus:FilletedAccounts 2023-01-01 2023-12-31 06200615 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 06200615 bus:RegisteredOffice 2023-01-01 2023-12-31 06200615 bus:Director4 2023-01-01 2023-12-31 06200615 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 06200615 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 06200615 core:PlantMachinery 2023-01-01 2023-12-31 06200615 core:AllSubsidiaries 2023-01-01 2023-12-31 06200615 core:ParentEntities 2023-01-01 2023-12-31 06200615 core:Subsidiary1 2023-01-01 2023-12-31 06200615 core:Subsidiary1 1 2023-01-01 2023-12-31 06200615 core:Subsidiary1 countries:EnglandWales 2023-01-01 2023-12-31 06200615 core:Subsidiary2 2023-01-01 2023-12-31 06200615 core:Subsidiary2 1 2023-01-01 2023-12-31 06200615 core:Subsidiary2 countries:Hungary 2023-01-01 2023-12-31 06200615 countries:EnglandWales 2023-01-01 2023-12-31 06200615 2022-12-31 06200615 core:OtherPropertyPlantEquipment 2022-12-31 06200615 2022-01-01 2022-12-31 06200615 2022-12-31 06200615 core:CurrentFinancialInstruments 2022-12-31 06200615 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 06200615 core:Non-currentFinancialInstruments 2022-12-31 06200615 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 06200615 core:CostValuation 2022-12-31 06200615 core:OtherPropertyPlantEquipment 2022-12-31 06200615 core:Subsidiary1 1 2022-01-01 2022-12-31 06200615 core:Subsidiary2 1 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 06200615

Health Innovations (UK) Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Health Innovations (UK) Ltd

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 6

 

Health Innovations (UK) Ltd

(Registration number: 06200615)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,200,470

932,173

Investments

5

425,000

425,000

 

1,625,470

1,357,173

Current assets

 

Stocks

663,950

721,236

Debtors

6

2,090,986

1,646,160

Cash at bank and in hand

 

507

300,035

 

2,755,443

2,667,431

Creditors: Amounts falling due within one year

7

(1,641,345)

(1,000,165)

Net current assets

 

1,114,098

1,667,266

Total assets less current liabilities

 

2,739,568

3,024,439

Creditors: Amounts falling due after more than one year

7

(1,975,916)

(2,311,832)

Net assets

 

763,652

712,607

Capital and reserves

 

Called up share capital

100

100

Retained earnings

763,552

712,507

Shareholders' funds

 

763,652

712,607

For the financial year ending 31 December 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 her 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 20 September 2024
 

 

Health Innovations (UK) Ltd

(Registration number: 06200615)
Balance Sheet as at 31 December 2023

.........................................
Ms Clare Campbell
Director

 

Health Innovations (UK) Ltd

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:
Airedale Business Centre
Millenium Road
Skipton
North Yorkshire
BD23 2TZ

These financial statements were authorised for issue by the director on 20 September 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 - '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.

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

Plant and machinery

10% - 33% on cost

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 65 (2022 - 62).

 

Health Innovations (UK) Ltd

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

4

Tangible assets

Plant and machinery
 £

Total
£

Cost or valuation

At 1 January 2023

2,216,741

2,216,741

Additions

386,118

386,118

At 31 December 2023

2,602,859

2,602,859

Depreciation

At 1 January 2023

1,284,568

1,284,568

Charge for the year

117,821

117,821

At 31 December 2023

1,402,389

1,402,389

Carrying amount

At 31 December 2023

1,200,470

1,200,470

At 31 December 2022

932,173

932,173

5

Investments

2023
£

2022
£

Investments in subsidiaries

425,000

425,000

Subsidiaries

£

Cost or valuation

At 1 January 2023

425,000

Carrying amount

At 31 December 2023

425,000

At 31 December 2022

425,000

 

Health Innovations (UK) Ltd

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

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2023

2022

Subsidiary undertakings

Vitrition UK Ltd

Unit 26
Victoria Spring Business Park
Wormald Street
Liversedge
West Yorkshire
WF15 6RA

England and Wales

Ordinary

100%

100%

HI Eu k.f.t

Hungary

Ordinary

95%

95%

6

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

1,302,554

868,302

Amounts owed by related parties

8

390,951

390,951

Prepayments

 

62,481

45,757

Other debtors

 

335,000

341,150

   

2,090,986

1,646,160

 

Health Innovations (UK) Ltd

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

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Bank borrowings

8,970

-

Bank overdrafts

207,337

-

HP and finance lease liabilities

206,011

97,762

Trade creditors

931,419

737,771

Taxation and social security

274,107

146,767

Accruals and deferred income

6,031

11,506

Other creditors

7,470

6,359

1,641,345

1,000,165

Creditors: amounts falling due after more than one year

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

20,000

39,752

HP and finance lease liabilities

455,916

172,080

Other borrowings

1,500,000

2,100,000

1,975,916

2,311,832

8

Related party transactions

HI kft

(Subsidiary company)
 There were no disclosable transactions during the year. The balance owing from HI kft at 31 December 2023 was £390,951 (2022 - £390,951).
 

Vitrition (UK) Ltd

(Subsidiary company)
 During the year Health Innovations (UK) Ltd made purchases of £Nil (2022 - £58,940) from Vitrition (UK) Ltd. During the year dividend of £Nil (2022 - £550,000) received from Vitrition (UK) Ltd. The balance owing from Vitrition (UK) Ltd at 31 December 2023 was £Nil (2022 - £Nil).