REGISTERED NUMBER: |
Financial Statements |
For The Year Ended 31 December 2023 |
for |
HIMSS UK LTD |
REGISTERED NUMBER: |
Financial Statements |
For The Year Ended 31 December 2023 |
for |
HIMSS UK LTD |
HIMSS UK LTD (Registered number: 05506954) |
Contents of the Financial Statements |
For The Year Ended 31 December 2023 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
HIMSS UK LTD |
Company Information |
For The Year Ended 31 December 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SENIOR STATUTORY AUDITOR: |
AUDITORS: |
I2 Mansfield Office Suite 0.3 |
Hamilton Court |
Mansfield |
Nottinghamshire |
NG18 5FB |
HIMSS UK LTD (Registered number: 05506954) |
Abridged Balance Sheet |
31 December 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
HIMSS UK LTD (Registered number: 05506954) |
Abridged Balance Sheet - continued |
31 December 2023 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
HIMSS UK LTD (Registered number: 05506954) |
Notes to the Financial Statements |
For The Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
HIMSS UK LTD is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The accounts have been prepared on the going concern basis of accounting. The company is considered to be a going concern with the support of its parent, Healthcare Information and Management Systems Society. |
Turnover |
Turnover represents amounts receivable for services performed and products sold in the period, net of value added tax. |
Consultancy recharges |
Included within other operating income is consultancy recharge income. This is a recharge, on a cost plus 2% basis, of all costs incurred except amortisation and those directly attributed to event sales. |
Tangible fixed assets |
Fixtures & equipment | - |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
HIMSS UK LTD (Registered number: 05506954) |
Notes to the Financial Statements - continued |
For The Year Ended 31 December 2023 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 January 2023 |
Additions |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed by group undertakings |
HIMSS UK LTD (Registered number: 05506954) |
Notes to the Financial Statements - continued |
For The Year Ended 31 December 2023 |
6. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
7. | OTHER FINANCIAL COMMITMENTS |
At 31 December 2023 the company has outstanding commitments under operating leases of Nil (2022 - £23,484). |
8. | GOING CONCERN : MATERIAL UNCERTAINTY |
The company is reporting net liabilities of £1,475,711 on its balance sheet as at 31 December 2023. |
The company is able to continue trading with the support of its parent organization HIMSS, which is based in the USA. HIMSS has continued to provide financial support to the company since the end of the financial period and has indicated its willingness to continue to do so going forward. |
The issue causing uncertainty is the ability of HIMSS to carry out this required support. HIMSS had reported significant losses for 31 December 2021 which was borne out of covid-19 hugely affecting operations. The company is yet to sign off its 31 December 2022 and 2023 accounts, but draft figures show an improved position from that of 31 December 2021. |
In undertaking their going concern review, the director has considered both the impact of future profitability of the company and the ability of the parent organization to offer support. The company is an integral part of the group, and its current business model will ensure that it will always be around a breakeven profit position each year, but this will not be sufficient to clear the net liabilities on its balance sheet in the short term, so continued support will be required. The financial position of the parent organization, as noted above is what is causing the uncertainty. |
In August 2023, HIMMS entered into a partnership with Informa Markets in respect of its Global Health Conference and Exhibition business. This greatly improved the financial position of the organization. This, along with the companies post 31 December 2023 trade position has led the board of directors of HIMSS to conclude that they have adequate resources to continue to support the company for at least 12 months from the date of approval of the annual report and accounts. On this basis, the director of the company continues to adopt the going concern basis in preparing these accounts. Accordingly, these accounts do not include any adjustments to the carrying amount or classification of assets and liabilities that would result if the company was unable to continue as a going concern. |
9. | PARENT COMPANY |
The parent company of the smallest group that draws up consolidated financial statements which include the results for HIMSS UK Limited is HIMSS - Healthcare Information and Management Systems Society, whose registered office is at 801 Adlai Stevenson Drive, Springfield, Illinois , 62703-4261, Sangamon, USA. |