Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-31falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.No description of principal activityfalsefalse2023-06-011true SC770285 2023-05-31 SC770285 2023-06-01 2024-05-31 SC770285 2022-06-01 2023-05-31 SC770285 2024-05-31 SC770285 c:Director1 2023-06-01 2024-05-31 SC770285 c:RegisteredOffice 2023-06-01 2024-05-31 SC770285 d:CurrentFinancialInstruments 2024-05-31 SC770285 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 SC770285 d:ShareCapital 2024-05-31 SC770285 d:RetainedEarningsAccumulatedLosses 2024-05-31 SC770285 c:OrdinaryShareClass1 2023-06-01 2024-05-31 SC770285 c:OrdinaryShareClass1 2024-05-31 SC770285 c:FRS102 2023-06-01 2024-05-31 SC770285 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 SC770285 c:FullAccounts 2023-06-01 2024-05-31 SC770285 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 SC770285 e:PoundSterling 2023-06-01 2024-05-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC770285










V1 HEALTH LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

 
V1 HEALTH LIMITED
 

COMPANY INFORMATION


Director
Raymond Woll 




Registered number
SC770285



Registered office
14 City Quay

Dundee

DD1 3JA




Accountants
EQ Accountants Limited
Chartered Accountants

14 City Quay

Dundee

DD1 3JA





 
V1 HEALTH LIMITED
REGISTERED NUMBER: SC770285

BALANCE SHEET
AS AT 31 MAY 2024

2024
£

  

Current assets
  

Debtors: amounts falling due within one year
  
16,081

Cash at bank and in hand
  
12,912

  
28,993

Creditors: amounts falling due within one year
  
(26,279)

Net current assets
  
 
 
2,714

Total assets less current liabilities
  
2,714

  

Net assets
  
2,714


Capital and reserves
  

Called up share capital 
  
100

Profit and loss account
  
2,614

  
2,714


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 6 February 2025.




Raymond Woll
Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
V1 HEALTH LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

V1 Health Ltd is a limited company incorporated in Scotland with the registration number SC770285. The registered office is 14 City Quay, Dundee, DD1 3JA. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional currency is EUR. This differs from the presentational currency which is GBP. The reason for the difference is that EUR is the currency of the primary economic environment in which the entity operates whilst presentation in GBP is required under Companies Act 2006.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 2

 
V1 HEALTH LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.3

Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.5

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

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.

 
2.6

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 3

 
V1 HEALTH LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

3.


Employees




The average monthly number of employees, including the director, during the year was as follows:


        2024
            No.






Employees
1


4.


Debtors

2024
£


Amounts owed by group undertakings
16,081

16,081



5.


Creditors: Amounts falling due within one year

2024
£

Other taxation and social security
23,667

Other creditors
212

Accruals and deferred income
2,400

26,279



6.


Share capital

2024
£
Allotted, called up and fully paid


100 Ordinary Shares shares of £1.00 each
100


The company was incorporated on 23 May 2023 with 100 ordinary £1 shares which were issued at par value.


7.


Ultimate parent undertaking

The company is a 100% subsidiary of V1 Properties Group Limited which has its registered office at 14 City Quay, Dundee, DD1 3JA


Page 4