Registration number:
Healthcare Outcomes Performance Company Limited
for the Year Ended 31 December 2023
Healthcare Outcomes Performance Company Limited
Contents
Company Information |
|
Directors' Report |
|
Statement of Directors' Responsibilities |
|
Independent Auditor's Report |
|
Profit and Loss Account |
|
Balance Sheet |
|
Statement of Changes in Equity |
|
Notes to the Financial Statements |
|
Detailed Profit and Loss Account |
Healthcare Outcomes Performance Company Limited
Company Information
Directors |
Dr T Harte Mr D Jacofsky Mr J Scalise Mr P Slate Dr A Sylvan |
Registered office |
|
Auditors |
|
Healthcare Outcomes Performance Company Limited
Directors' Report for the Year Ended 31 December 2023
The directors present their report and the financial statements for the year ended 31 December 2023.
Change of company name
The company changed its name from
Directors of the company
The directors who held office during the year were as follows:
Principal activity
The principal activity of the company is business and domestic software development.
Restatement of prior period financial statements
These financial statements include revisions to the financial statements for the year ended 31 December 2022 and replace the original financial statements for the year ended 31 December 2022 which were approved by the
board on 10 May 2023. These revised financial statements are now the statutory financial statements of the Company for the period. In accordance with the Companies Act 2006, the financial statements have been
revised as at the date of the original financial statements and not as at the date of this revision. Accordingly they do not deal with events between those dates.
The amendment made is to recognise a capital contribution of £404,201 received in the year to 31 December 2022. This amount had previously been recorded as a loan and included within the current liabilities of the Company.
Going concern
Whilst the Company has been loss making throughout the period, the Board is confident that the Company will be able to meet its liabilities as they fall due for a period of not less than 12 months from the signing of the Balance Sheet. This is due to the continued financial support by group companies, mainly Hopco Intermediate Holdings Inc.
Consequently, the financial statements have been prepared on a going concern basis.
Disclosure of information to the auditors
Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.
Reappointment of auditors
The auditor, Metric Accountants Ltd, is deemed to be reappointed under the Companies Act 2006, s. 487(2).
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Healthcare Outcomes Performance Company Limited
Directors' Report for the Year Ended 31 December 2023
Approved and authorised by the
......................................... |
Healthcare Outcomes Performance Company Limited
Statement of Directors' Responsibilities
The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
• |
select suitable accounting policies and apply them consistently; |
• |
make judgements and accounting estimates that are reasonable and prudent; |
• |
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Healthcare Outcomes Performance Company Limited
Independent Auditor's Report to the Members of Healthcare Outcomes Performance Company Limited
Opinion
We have audited the financial statements of Healthcare Outcomes Performance Company Limited (the 'company') for the year ended 31 December 2023, which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• | give a true and fair view of the state of the company's affairs as at 31 December 2023 and of its loss for the year then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other matters
It is noted that the prior year financial statements were not audited. However, work has been done to gain sufficient audit evidence to place reliance on the opening balances of this financial year and confirm that the opening balances do not contain material misstatements that could affect the current period's financial statements.
Other information
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Healthcare Outcomes Performance Company Limited
Independent Auditor's Report to the Members of Healthcare Outcomes Performance Company Limited
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
• |
the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
• |
the Directors' Report has been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the financial statements are not in agreement with the accounting records and returns; or |
• | certain disclosures of directors' remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit; or |
• | the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the directors’ report and from the requirement to prepare a strategic report. |
Responsibilities of directors
As explained more fully in the Statement of Director's Responsibilities, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor Responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Healthcare Outcomes Performance Company Limited
Independent Auditor's Report to the Members of Healthcare Outcomes Performance Company Limited
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
As part of designing our audit, we determined materiality and assessed the risks of material misstatement in the financial statements, including how fraud may occur by enquiring of management of its own consideration of fraud. In particular, we looked at where management made subjective judgements, for example in respect of significant accounting estimates that involved making assumptions and considering future events that are inherently uncertain.
We also considered potential financial or other pressures, opportunity and motivations for fraud. As part of this discussion, we identified certain internal controls established to mitigate risks related to fraud or noncompliance with laws and regulations and how management monitor these processes. Appropriate procedures included the review and testing of manual journals and key estimates and judgements made by management.
We gained an understanding of the legal and regulatory framework applicable to the Company and the industry in which it operates, drawing on our broad sector experience, and considered the risk of acts by the Company that were contrary to these laws and regulations, including fraud. We focused on laws and regulations that could give rise to a material misstatement in the financial statements, including the Companies Act 2006 and UK tax legislation.
We made enquiries of management with regards to compliance with the above laws and regulations and corroborated any necessary evidence to relevant information, for example, minutes of meetings and correspondence, including legal correspondence.
Our tests included agreeing the financial statements disclosures to underlying supporting documentation and enquiries with management.
We did not identify any key audit matters relating to irregularities, including fraud. As in all of our audits, we also addressed the risk of management override of internal controls including reviewing and testing journals and evaluating whether there was evidence of bias by management that represented a risk of material misstatement due to fraud.
Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion.
There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
Healthcare Outcomes Performance Company Limited
Independent Auditor's Report to the Members of Healthcare Outcomes Performance Company Limited
......................................
For and on behalf of
Level 30, The Leadenhall Building
122 Leadenhall Street
EC3V 4AB
Healthcare Outcomes Performance Company Limited
Profit and Loss Account for the Year Ended 31 December 2023
Note |
2023 |
2022 |
|
Turnover |
|
|
|
Cost of sales |
( |
( |
|
Gross profit |
|
|
|
Administrative expenses |
( |
( |
|
Operating loss |
(2,914,036) |
(867,440) |
|
Other interest receivable and similar income |
- |
|
|
Interest payable and similar expenses |
|
( |
|
77,188 |
(13,068) |
||
Loss before tax |
( |
( |
|
Tax on loss |
- |
|
|
Loss for the financial year |
( |
( |
The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
Healthcare Outcomes Performance Company Limited
(Registration number: 09336986)
Balance Sheet as at 31 December 2023
Note |
2023 |
(As restated) |
|
Fixed assets |
|||
Intangible assets |
|
|
|
Tangible assets |
|
|
|
|
|
||
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current liabilities |
( |
( |
|
Net liabilities |
( |
( |
|
Capital and reserves |
|||
Called up share capital |
293 |
293 |
|
Share premium reserve |
4,508,472 |
4,508,472 |
|
Capital contribution reserve |
404,201 |
404,201 |
|
Retained earnings |
(8,215,169) |
(5,378,321) |
|
Shareholders' deficit |
(3,302,203) |
(465,355) |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
......................................... |
Healthcare Outcomes Performance Company Limited
Statement of Changes in Equity for the Year Ended 31 December 2023
Share capital |
Share premium |
Capital contribution reserve |
Other reserves |
Retained earnings |
Total |
|
At 1 January 2023 |
|
|
|
- |
( |
( |
Loss for the year |
- |
- |
- |
- |
( |
( |
At 31 December 2023 |
|
|
|
- |
( |
( |
Share capital |
Share premium |
Capital contribution reserve |
Other reserves |
Retained earnings |
Total |
|
At 1 January 2022 |
|
|
- |
|
( |
( |
Loss for the year |
- |
- |
- |
- |
( |
( |
New share capital subscribed |
|
|
- |
- |
- |
|
Other share premium reserve movements |
- |
( |
- |
- |
- |
( |
Other capital contribution reserve movements |
- |
- |
404,201 |
- |
- |
404,201 |
Other movements on reserves |
- |
- |
- |
(19,956) |
- |
(19,956) |
At 31 December 2022 (As restated) |
293 |
4,508,472 |
404,201 |
- |
(5,378,321) |
(465,355) |
Healthcare Outcomes Performance Company Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The company was formerly known as Future Healthworks Ltd.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
Whilst the Company has been loss making throughout the period, the Board is confident that the Company will be able to meet its liabilities as they fall due for a period of not less than 12 months from the signing of the Balance Sheet. This is due to the continued financial support by group companies, mainly Hopco Intermediate Holdings inc.
Consequently, the financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
Revenue from the sale of goods is recognised when all the following conditions are met:
- The Company has transferred the significant risks and rewards of the ownership to the buyer;
- The Company retains neither continuing managerial involvement to the degree usuallty associated with
ownership nor effective control over the goods sold;- The amount can be relaibly measured;
- It is probable that the Company will receive the consideration due under the transaction; and
All revenue from contracts to provide services are recognised over the period in which the services are provided. This is to be recognised in line with the stage of completion as at the balance sheet date.
Healthcare Outcomes Performance Company Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tax
The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant and machinery |
33% |
Intangible assets
Separately acquired trademarks and licences are shown at historical cost.
Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.
Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.
Development costs
Capitalised development costs relate to research and development activities of products which will generate probable future economic benefits, and the expenditure attributable to the development is recognised at fair value at the acquisition date.
Capitalised development costs are currently carried at cost. Amortisation is only being deducted once the Company is able to use or sell the products being developed.
Healthcare Outcomes Performance Company Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Patents |
10% |
Development costs |
33% |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Debtors receivable within one year
Debtors with no stated interest rate and receivable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Creditors payable within one year
Creditors with no stated interest rate and payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Healthcare Outcomes Performance Company Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Loss before tax |
Arrived at after charging/(crediting)
2023 |
2022 |
|
Depreciation expense |
|
|
Amortisation expense |
|
|
Taxation |
Tax charged/(credited) in the income statement
2023 |
2022 |
|
Current taxation |
||
UK corporation tax |
- |
( |
Factors that may affect future tax charges include the trading tax losses carried forward from the period ended 31 December 2023 totalling £6,190,652 which may reduce the Company's tax liability on profits generated from the same trade in future periods.
Healthcare Outcomes Performance Company Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
Intangible assets |
Trademarks, patents and licenses |
Internally generated software development costs |
Total |
|
Cost or valuation |
|||
At 1 January 2023 |
|
|
|
Additions internally developed |
|
|
|
At 31 December 2023 |
|
|
|
Amortisation |
|||
At 1 January 2023 |
|
- |
|
Amortisation charge |
|
|
|
At 31 December 2023 |
|
|
|
Carrying amount |
|||
At 31 December 2023 |
|
|
|
At 31 December 2022 |
|
|
|
Tangible assets |
Furniture, fittings and equipment |
Total |
|
Cost or valuation |
||
At 1 January 2023 |
|
|
Additions |
|
|
Disposals |
( |
( |
At 31 December 2023 |
|
|
Depreciation |
||
At 1 January 2023 |
|
|
Charge for the year |
|
|
Eliminated on disposal |
( |
( |
At 31 December 2023 |
|
|
Carrying amount |
||
At 31 December 2023 |
|
|
At 31 December 2022 |
|
|
Healthcare Outcomes Performance Company Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
Debtors |
Current |
Note |
2023 |
2022 |
Trade debtors |
|
|
|
Amounts owed by related parties |
|
- |
|
Prepayments |
|
|
|
Other debtors |
|
|
|
|
|
Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
(As restated) |
|
Due within one year |
|||
Trade creditors |
|
|
|
Deferred Income |
|
|
|
Taxation and social security |
|
|
|
Other creditors |
|
|
|
Loans from parent undertaking |
4,637,221 |
787,432 |
|
|
|
Related party transactions |
Summary of transactions with parent
The company has been provided with loans by its ultimate parent company, Hopco Intermediate Holdings Inc., totalling £4,637,221 (2022: £1,191,633). These loans are not accruing interest, not secured against any assets and are repayable at the request of the parent company.
In the year, a total of £2,492,866 (2022: £1,277,262) was advanced to the Company and a total of £1,494,021 (2022: £489,830) was repaid to Hopco Intermediate Holdings Inc.
The company also provided a loan to its immediate parent company, Hopco International Limited, totalling £65,925 (2022: Nil).
Healthcare Outcomes Performance Company Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
Pension and other schemes |
Defined contribution pension scheme
The company operates a defined contribution pension scheme. The pension charge for the year represents contributions payable by the company to the scheme and amounted to £
Contributions totalling £
Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
|||
No. |
£ |
No. |
£ |
|
|
|
292.89 |
|
94.86 |
|
- |
- |
|
182.09 |
|
- |
- |
|
15.94 |
|
|
|
|
During the year 1,820,935 A Ordinary shares of £0.0001 each and 159,374 Deferred shares of £0.0001 each were redesignated as 1,980,309 Ordinary shares of £0.0001 each.
The 2,928,924 Ordinary shares were issued for an aggregate net consideration of £4,508,765, consisting of the Nominal Value (£293) and Share Premium (£4,508,472). Share Premium is net of deal costs totalling £164,399.
Commitments |
At 31 December 2023, the company had total commitments under a non-cancellable operating lease over the remaining life of this lease of £84,150 (2022: £196,350), in respect of a rental agreement.
Control |
Control of the Company is held by HOPCo International Ltd and HOPCo Intermediate Holdings Inc; owning 75% and 25% of voting rights respectively.
HOPCo International Ltd is incorporated in England (company registration: 13983616). The registered address is Fifth Floor, 5 New Street Square, London, England, EC4A 3BF.
HOPCo Intermediate Holdings Inc., is incorporated in the USA. The registered address is 18444 N 25th Ave., Suite 320, Phoenix, AZ 85023.
Healthcare Outcomes Performance Company Limited
Detailed Profit and Loss Account for the Year Ended 31 December 2023
2023 |
2022 |
|
Turnover (analysed below) |
937,178 |
969,026 |
Cost of sales (analysed below) |
(69,981) |
(65,910) |
Gross profit |
867,197 |
903,116 |
Gross profit (%) |
92.53% |
93.2% |
Administrative expenses |
||
Employment costs (analysed below) |
(3,133,008) |
(1,232,017) |
Establishment costs (analysed below) |
(131,786) |
(102,884) |
General administrative expenses (analysed below) |
(427,076) |
(410,533) |
Finance charges (analysed below) |
(2,783) |
(2,347) |
Depreciation costs (analysed below) |
(86,869) |
(22,676) |
Other expenses (analysed below) |
289 |
(99) |
(3,781,233) |
(1,770,556) |
|
Operating loss |
(2,914,036) |
(867,440) |
Other interest receivable and similar income (analysed below) |
- |
79 |
Interest payable and similar charges (analysed below) |
77,188 |
(13,147) |
77,188 |
(13,068) |
|
Loss before tax |
(2,836,848) |
(880,508) |
Healthcare Outcomes Performance Company Limited
Detailed Profit and Loss Account for the Year Ended 31 December 2023
2023 |
2022 |
Turnover |
||
Sales |
937,178 |
932,657 |
Other revenue |
- |
36,369 |
937,178 |
969,026 |
Cost of sales |
||
Direct costs |
(69,981) |
(65,910) |
Employment costs |
||
Wages and salaries (excluding directors) |
(930,347) |
(759,819) |
Holiday pay |
(11,675) |
(12,901) |
Staff NIC (Employers) |
(138,338) |
(120,528) |
Directors remuneration |
(199,941) |
(187,763) |
Staff pensions (Defined contribution) |
(38,897) |
(11,364) |
Directors pensions (Defined contribution) |
(6,321) |
(2,642) |
Other remuneration costs |
(1,466,438) |
- |
Subcontract cost |
(205,152) |
(39,035) |
Directors fees |
- |
(27,500) |
Recruitment fee |
(96,240) |
(31,737) |
Other staff costs |
(39,659) |
(38,728) |
(3,133,008) |
(1,232,017) |
Establishment costs |
||
Rent |
(110,818) |
(65,740) |
Rates |
- |
(10,789) |
Light, heat and power |
- |
(1,579) |
Insurance |
(20,968) |
(24,776) |
(131,786) |
(102,884) |
General administrative expenses |
||
Cleaning |
- |
(9,620) |
Telephone and fax |
(5,079) |
(5,337) |
Office expenses |
(4,284) |
(1,516) |
Computer software and subscriptions |
(198,907) |
(64,648) |
Printing, postage and stationery |
(147) |
(315) |
Management charges payable |
(36,323) |
(39,869) |
Travel and subsistence |
(36,652) |
(15,030) |
Advertising |
(9,728) |
(46,667) |
Brand development |
(3,883) |
(5,654) |
Entertainment |
(7,746) |
(2,965) |
Accountancy fees |
(31,278) |
(18,421) |
Consultancy fees |
(40,221) |
(47,911) |
Legal and professional fees |
(52,828) |
(152,580) |
Healthcare Outcomes Performance Company Limited
Detailed Profit and Loss Account for the Year Ended 31 December 2023
2023 |
2022 |
(427,076) |
(410,533) |
Finance charges |
||
Bank charges |
(2,783) |
(2,347) |
Depreciation costs |
||
Amortisation of patents |
(18,301) |
(12,586) |
Amortisation of development costs |
(62,228) |
- |
Depreciation of office equipment (owned) |
(6,340) |
(10,090) |
(86,869) |
(22,676) |
Other expenses |
||
(Profit)/loss on disposal of tangible fixed assets |
289 |
(99) |
Other interest receivable and similar income |
||
Other interest receivable |
- |
79 |
Interest payable and similar expenses |
||
Hire purchase interest |
- |
(181) |
Other interest payable |
(1,339) |
(8,993) |
Foreign currency (gains)/losses |
78,527 |
(3,973) |
77,188 |
(13,147) |