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REGISTERED NUMBER: 13873781 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 March 2024

for

FLOK HEALTH LTD

FLOK HEALTH LTD (REGISTERED NUMBER: 13873781)

Contents of the Financial Statements
for the year ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FLOK HEALTH LTD

Company Information
for the year ended 31 March 2024







Directors: R M H Da Silva
F C J Stevenson





Registered office: Lime Tree Barn, Foxes Bridge Farm
Royston Lane
Comberton
Cambridge
Cambridgeshire
CB23 7EE





Registered number: 13873781 (England and Wales)





Accountants: Cooper Parry Advisory Limited
Aissela
46 High Street
Esher
Surrey
KT10 9QY

FLOK HEALTH LTD (REGISTERED NUMBER: 13873781)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 65,949 48,992

Current assets
Debtors 5 238,085 83,096
Cash at bank 673,949 1,606,958
912,034 1,690,054
Creditors
Amounts falling due within one year 6 18,182 24,379
Net current assets 893,852 1,665,675
Total assets less current liabilities 959,801 1,714,667

Capital and reserves
Called up share capital 8 3 3
Share premium 1,956,959 1,956,959
Other reserves 44,481 -
Retained earnings (1,041,642 ) (242,295 )
Shareholders' funds 959,801 1,714,667

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 March 2025 and were signed on its behalf by:





F C J Stevenson - Director


FLOK HEALTH LTD (REGISTERED NUMBER: 13873781)

Notes to the Financial Statements
for the year ended 31 March 2024


1. Statutory information

FLOK HEALTH LTD is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Accounting policies

Basis of preparing the financial statements
The company has transitioned from FRS 105 to FRS 102 Section 1A for the year ended March 2024. This transition is in accordance with the requirements of FRS 102.

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

Share-based payments have been made to employees of the company. The fair value of any vested share options is recognised in the income statement. The fair value of share options is estimated using the Black-Scholes model. The fair value of the ordinary shares in issue at the date of granting the options is used as an input to the model.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 33% on cost
Computer equipment - 33% on cost

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.


FLOK HEALTH LTD (REGISTERED NUMBER: 13873781)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


2. Accounting policies - continued
Taxation
Taxation for the year comprises of current tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Tax credits shown on the income statement represent tax credits received or receivable from HMRC as a result of claims made under HMRC’s R&D tax relief schemes.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.

The company makes claims under the SME R&D tax relief scheme. Tax credits arising from claims under the SME R&D tax relief scheme are reflected as a reduction in the Corporation Tax charge or, if loss making, as a Corporation Tax credit. Tax credits received or receivable from R&D claims are recognised in the reporting period in which the qualifying expenditure is incurred.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
The financial statements have been prepared on the going concern basis. The company incurred losses during the year, however the directors believe that the company has sufficient financial resources to be able to meet its obligations, if and when, they become due and that the company can continue in operational existence for a period of at least 12 months from the balance sheet date. On this basis, the directors are of the opinion that they should continue to adopt the going concern basis in preparing the annual financial statements.

Share-based payments
The company operates an equity-settled compensation plan for its employees. The fair value of the employee services received in exchange for the grant of the options is recognised as an expense in the income statement. The total amount to be expensed over the vesting period is determined by reference to the fair value of the options granted at the date of grant, excluding the impact of any non-market vesting conditions (for example, profitability and sales growth targets). Non market vesting conditions are included in assumptions about the number of options that are expected to vest. At each statement of financial position date, the entity revises its estimates of the number of options that are expected to vest. It recognises the impact of the revision to original
estimates, if any, in the income statement. The credit entry is taken to reserves because the share options are equity-settled.

3. Employees and directors

The average number of employees during the year was 10 (2023 - 4 ) .

FLOK HEALTH LTD (REGISTERED NUMBER: 13873781)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


4. Tangible fixed assets
Improvements
to Computer
property equipment Totals
£    £    £   
Cost
At 1 April 2023 6,621 47,726 54,347
Additions 6,735 37,788 44,523
At 31 March 2024 13,356 85,514 98,870
Depreciation
At 1 April 2023 549 4,806 5,355
Charge for year 3,830 23,736 27,566
At 31 March 2024 4,379 28,542 32,921
Net book value
At 31 March 2024 8,977 56,972 65,949
At 31 March 2023 6,072 42,920 48,992

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Other debtors 238,085 83,096

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors 9,850 8,351
Taxation and social security 4,851 8,725
Other creditors 3,481 7,303
18,182 24,379

7. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 39,480 -

8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
21,349 Ordinary £0.0001 2 2
6,347 Series Seed £0.0001 1 1
3 3

FLOK HEALTH LTD (REGISTERED NUMBER: 13873781)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


9. Share-based payment transactions

The company operates an EMI qualifying share option scheme and during the period the company granted 862 EMI qualifying share options to employees of the company (2023: 0). At the statement of financial position date, the company had granted a total of 862 share options (2023: 0) at an average weighted exercise price of £0.0001 per share (2023: £0.0001). At the statement of financial position date, 0 options had lapsed (2023: 0), 0 options were exercised (2023: 0), 299 options had vested and remained exercisable (2023: 0) and 563 options had yet to vest (2023: 0). An amount of £44,481 has been charged to the income statement in respect of the EMI qualifying share options (2023: £nil).

The share options generally vest over a 4 year period with a 1 year cliff and are exercisable over the shares of the company.