Company Registration No. 07405164 (England and Wales)
Apos Medical UK Limited
Unaudited financial statements
for the year ended 31 December 2023
Pages for filing with the registrar
Apos Medical UK Limited
Company information
Director
Clifford Bleustein
Company number
07405164
Registered office
71 Queen Victoria Street
London
EC4V 4BE
Apos Medical UK Limited
Contents
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 7
Apos Medical UK Limited
Balance sheet
As at 31 December 2023
1
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
15,014
20,691
Current assets
Stocks
5
313,185
93,266
Debtors
6
822,306
698,188
Cash at bank and in hand
668
17,873
1,136,159
809,327
Creditors: amounts falling due within one year
7
(1,198,635)
(888,938)
Net current liabilities
(62,476)
(79,611)
Net liabilities
(47,462)
(58,920)
Capital and reserves
Called up share capital
8
1
1
Profit and loss reserves
(47,463)
(58,921)
Total equity
(47,462)
(58,920)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 21 January 2025.
Clifford Bleustein
Director
Company Registration No. 07405164
Apos Medical UK Limited
Statement of changes in equity
For the year ended 31 December 2023
2
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 January 2022
1
(36,567)
(36,566)
Year ended 31 December 2022:
Loss and total comprehensive income
-
(22,354)
(22,354)
Balance at 31 December 2022
1
(58,921)
(58,920)
Year ended 31 December 2023:
Profit and total comprehensive income
-
11,458
11,458
Balance at 31 December 2023
1
(47,463)
(47,462)
Apos Medical UK Limited
Notes to the financial statements
For the year ended 31 December 2023
3
1
Accounting policies
Company information

Apos Medical UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is 71 Queen Victoria Street, London, EC4V 4BE.

1.1
Accounting convention

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, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

The company's ability to continue to operate is dependent on its ability to increase its sales volumes or to receive additional financial support from the parent company and investors. The company's management believes that if a sales increase is delayed, additional funds can be raised from investors or other sources, to provide the necessary liquidity to meet the company's financing requirements during the next 12 months.

1.3
Turnover

Turnover represents amounts receivable for goods and services net of VAT.

 

Initial evaluation income is recognized upon delivery of AposHealth treatment by the client.

 

Maintenance plan income is recognised in the month the plan commences.

 

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, 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:

Fixtures, fittings & equipment
20 - 33% 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.

1.5
Impairment of fixed 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. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Apos Medical UK Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
1
Accounting policies (continued)
4
1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to net realisable value.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
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.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of 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

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares 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.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

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 initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Apos Medical UK Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
1
Accounting policies (continued)
5
1.9
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.

1.10
Taxation

The tax expense represents the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.11
Foreign exchange
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
2
Critical accounting judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

 

The following judgements have had the most significant effect on amounts recognised in the financial statements.

Bad debt provision

The company reviews debts due from customers at the year end for any requirement for a bad debt provision. The basis for this provision requires the company to determine, based on a variety of factors including evaluation of the payment terms attached to the sales, whether the debt is expected to be fully recovered.

Stock valuation

The company has reviewed stock for slow-moving and obsolete items, and has established whether a write off of stock or a provision is required at the year end.

3
Employees
The average monthly number of persons (including directors) employed by the company during the year was 5 (2022: 6).
Apos Medical UK Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
6
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023
55,372
Additions
2,080
Disposals
(29,482)
At 31 December 2023
27,970
Depreciation and impairment
At 1 January 2023
34,681
Depreciation charged in the year
7,757
Eliminated in respect of disposals
(29,482)
At 31 December 2023
12,956
Carrying amount
At 31 December 2023
15,014
At 31 December 2022
20,691
5
Stocks
2023
2022
£
£
Stocks
313,185
93,266
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
95,203
140,935
Amounts owed by group undertakings
717,368
550,195
Prepaid expenses
9,735
7,058
822,306
698,188
Apos Medical UK Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
7
7
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
18,114
8,045
Amounts owed to group undertakings
1,136,533
841,265
Taxation and social security
16,179
14,868
Other creditors
27,809
24,760
1,198,635
888,938
8
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary share of £1 each
1
1
9
Related party transactions

The company has taken advantage of the exemption available under Section 1A of FRS 102 whereby it has not disclosed transactions with the ultimate parent company or any wholly owned subsidiary undertaking of the group.

10
Parent company

The immediate parent company is Apos Medical Assets Limited, incorporated in Israel, which owns 100% of the company's shares.

2023-12-312023-01-01false21 January 2025CCH SoftwareCCH Accounts Production 2024.210No description of principal activityClifford Bleusteinfalsefalse074051642023-01-012023-12-3107405164bus:Director12023-01-012023-12-31074051642023-12-31074051642022-12-3107405164core:OtherPropertyPlantEquipment2023-12-3107405164core:OtherPropertyPlantEquipment2022-12-3107405164core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3107405164core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3107405164core:CurrentFinancialInstruments2023-12-3107405164core:CurrentFinancialInstruments2022-12-3107405164core:ShareCapital2023-12-3107405164core:ShareCapital2022-12-3107405164core:RetainedEarningsAccumulatedLosses2023-12-3107405164core:RetainedEarningsAccumulatedLosses2022-12-3107405164core:ShareCapital2021-12-3107405164core:RetainedEarningsAccumulatedLosses2021-12-3107405164core:RetainedEarningsAccumulatedLosses2022-01-012022-12-31074051642022-01-012022-12-3107405164core:RetainedEarningsAccumulatedLosses2023-01-012023-12-3107405164core:FurnitureFittings2023-01-012023-12-3107405164core:OtherPropertyPlantEquipment2022-12-3107405164core:OtherPropertyPlantEquipment2023-01-012023-12-3107405164bus:PrivateLimitedCompanyLtd2023-01-012023-12-3107405164bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3107405164bus:FRS1022023-01-012023-12-3107405164bus:AuditExemptWithAccountantsReport2023-01-012023-12-3107405164bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP