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Company No: 13103602 (England and Wales)

ADORA DIGITAL HEALTH LIMITED

Unaudited Financial Statements
For the financial year ended 28 June 2024
Pages for filing with the registrar

ADORA DIGITAL HEALTH LIMITED

Unaudited Financial Statements

For the financial year ended 28 June 2024

Contents

ADORA DIGITAL HEALTH LIMITED

COMPANY INFORMATION

For the financial year ended 28 June 2024
ADORA DIGITAL HEALTH LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 28 June 2024
DIRECTORS Y Halamish
A O'Neill
J Pisani
E Smith
REGISTERED OFFICE Salisbury House
Station Road
Cambridge
CB1 2LA
United Kingdom
COMPANY NUMBER 13103602 (England and Wales)
CHARTERED ACCOUNTANTS Peters Elworthy & Moore
Salisbury House
Station Road
Cambridge
CB1 2LA
ADORA DIGITAL HEALTH LIMITED

BALANCE SHEET

As at 28 June 2024
ADORA DIGITAL HEALTH LIMITED

BALANCE SHEET (continued)

As at 28 June 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,549 1,006
1,549 1,006
Current assets
Debtors 4 32,732 7,983
Cash at bank and in hand 223,477 572,619
256,209 580,602
Creditors: amounts falling due within one year 5 ( 106,464) ( 43,816)
Net current assets 149,745 536,786
Total assets less current liabilities 151,294 537,792
Net assets 151,294 537,792
Capital and reserves
Called-up share capital 6 3 3
Share premium account 900,322 875,184
Profit and loss account ( 749,031 ) ( 337,395 )
Total shareholders' funds 151,294 537,792

For the financial year ending 28 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Adora Digital Health Limited (registered number: 13103602) were approved and authorised for issue by the Board of Directors on 20 February 2025. They were signed on its behalf by:

E Smith
Director
ADORA DIGITAL HEALTH LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 June 2024
ADORA DIGITAL HEALTH LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 June 2024
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

Adora Digital Health Ltd is a private company limited by shares. The Company is incorporated in England and Wales and its registered office address is Salisbury House, Station Road, Cambridge, CB1 2LA.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of 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:

Going concern

After making appropriate enquiries, the directors have a reasonable expectation that the company will have adequate resources to continue in operational existence for the foreseeable future. The ability of the company to continue operations at the current level is dependant on the ability of the company to obtain additional funding to meet the working capital requirements. The directors are confident that the company will be able to raise the necessary funding to meet future working capital requirements. In the event that financing is not available the company will reduce its activities and put projects on hold until such a time that there is future funding available. For this reason they adopt the going concern basis when preparing the financial statements.

Foreign currency

The Company's functional and presentational currency is GBP.

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 Profit and Loss Account within 'administrative costs'.

Research and Development

Research and development expenditure is recognised in the Profit and Loss Accounts in the period in which it is incurred.

Pensions

Defined Contribution Pension Plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Trade and other debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Trade and other creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 2

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 29 June 2023 1,023 1,023
Additions 816 816
At 28 June 2024 1,839 1,839
Accumulated depreciation
At 29 June 2023 17 17
Charge for the financial year 273 273
At 28 June 2024 290 290
Net book value
At 28 June 2024 1,549 1,549
At 28 June 2023 1,006 1,006

4. Debtors

2024 2023
£ £
Trade debtors 14,478 0
Other debtors 18,254 7,983
32,732 7,983

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 16,180 26,456
Other taxation and social security 0 2,272
Other creditors 90,284 15,088
106,464 43,816

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
2,417,305 Ordinary shares of £ 0.000001 each 2.42 2.42
946,290 Preseed preference shares of £ 0.000001 each (2023: 914,869 shares of £ 0.000001 each) 0.94 0.91
3.36 3.33

On 15 December 2023, 31,421 pre-seed shares were issued for a total consideration of £25,138.