Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Dr C Glismann 23/12/2016 Dr H Wenzek 23/12/2016 30 September 2024 The principal activity of the company is that of the operation of a health diagnostic centre. SC553316 2023-12-31 SC553316 bus:Director1 2023-12-31 SC553316 bus:Director2 2023-12-31 SC553316 2022-12-31 SC553316 core:CurrentFinancialInstruments 2023-12-31 SC553316 core:CurrentFinancialInstruments 2022-12-31 SC553316 core:Non-currentFinancialInstruments 2023-12-31 SC553316 core:Non-currentFinancialInstruments 2022-12-31 SC553316 core:ShareCapital 2023-12-31 SC553316 core:ShareCapital 2022-12-31 SC553316 core:RetainedEarningsAccumulatedLosses 2023-12-31 SC553316 core:RetainedEarningsAccumulatedLosses 2022-12-31 SC553316 core:OtherPropertyPlantEquipment 2022-12-31 SC553316 core:OtherPropertyPlantEquipment 2023-12-31 SC553316 bus:OrdinaryShareClass1 2023-12-31 SC553316 2023-01-01 2023-12-31 SC553316 bus:FilletedAccounts 2023-01-01 2023-12-31 SC553316 bus:SmallEntities 2023-01-01 2023-12-31 SC553316 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 SC553316 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC553316 bus:Director1 2023-01-01 2023-12-31 SC553316 bus:Director2 2023-01-01 2023-12-31 SC553316 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 SC553316 2022-01-01 2022-12-31 SC553316 core:Non-currentFinancialInstruments 2023-01-01 2023-12-31 SC553316 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 SC553316 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC553316 (Scotland)

CORPORATEHEALTH INTERNATIONAL UK LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH THE REGISTRAR

CORPORATEHEALTH INTERNATIONAL UK LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023

Contents

CORPORATEHEALTH INTERNATIONAL UK LTD

BALANCE SHEET

AS AT 31 DECEMBER 2023
CORPORATEHEALTH INTERNATIONAL UK LTD

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 7,087 8,956
7,087 8,956
Current assets
Debtors 4 139,598 203,554
Cash at bank and in hand 3,121 30,407
142,719 233,961
Creditors: amounts falling due within one year 5 ( 862,882) ( 635,299)
Net current liabilities (720,163) (401,338)
Total assets less current liabilities (713,076) (392,382)
Creditors: amounts falling due after more than one year 6 ( 1,218,604) ( 1,102,737)
Net liabilities ( 1,931,680) ( 1,495,119)
Capital and reserves
Called-up share capital 7 1,000 1,000
Profit and loss account ( 1,932,680 ) ( 1,496,119 )
Total shareholder's deficit ( 1,931,680) ( 1,495,119)

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.

Directors' responsibilities:

The financial statements of Corporatehealth International Uk Ltd (registered number: SC553316) were approved and authorised for issue by the Board of Directors on 30 September 2024. They were signed on its behalf by:

Dr C Glismann
Director
Dr H Wenzek
Director
CORPORATEHEALTH INTERNATIONAL UK LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
CORPORATEHEALTH INTERNATIONAL UK LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Corporatehealth International UK Ltd (SC553316) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Life Science Innovation Centre, Suite F11, Inverness Campus, Inverness, Scotland, IV2 5NA.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Going concern

The company has made a loss for the year of £436,561 and at the Balance Sheet date has net liabilities of £1,931,680.

The directors consider that the Financial Statements should be prepared as a going concern on the basis that the company’s directors and parent company will continue to support the company for the foreseeable future. In addition, included in liabilities are amounts owed to the Directors totalling £391,144 and an amount of £440,866 owed to the parent company. These sums will not be repaid to the detriment of the company’s ability to continue trading.

The company has secured grant funding to support its continued development activities and has started generating sales revenue which they anticipate will increase in subsequent accounting periods. The ability of the company to continue as a going concern depends on the continued support of the Directors/parent company and being able to increase sales revenues.

Foreign currency

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. Income is recognised on the accruals basis.

Employee benefits

Short term benefits
The costs of short-term employee benefits are recognised as a liability.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Due to the availability of taxable losses, there is no Corporation Tax liability in the accounts.

Tangible fixed assets

Tangible fixed assets are initially and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery etc. 25 % reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised at transaction price .

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

Government grants are recognised in accordance with the accruals model. Government grants relating to CJRS are recognised as income over the periods when the related costs are incurred.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 22 19

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 January 2023 16,654 16,654
Additions 455 455
At 31 December 2023 17,109 17,109
Accumulated depreciation
At 01 January 2023 7,698 7,698
Charge for the financial year 2,324 2,324
At 31 December 2023 10,022 10,022
Net book value
At 31 December 2023 7,087 7,087
At 31 December 2022 8,956 8,956

4. Debtors

2023 2022
£ £
Trade debtors 81,321 77,180
Other debtors 58,277 126,374
139,598 203,554

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 202,352 112,863
Other taxation and social security 132,274 56,185
Other creditors 528,256 466,251
862,882 635,299

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans (secured) 593,005 568,855
Other creditors 625,599 533,882
1,218,604 1,102,737

Included in bank loans is a loan which is secured by way of a floating charge over the assets of the company.

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
1,000 ordinary shares of £ 1.00 each 1,000 1,000

8. Ultimate controlling party

Parent Company:

Corporatehealth International APS
10A Forskerparken, Odense, Denmark, 5230