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REGISTERED NUMBER: 15084747 (England and Wales)















Unaudited Financial Statements

for the period

21 August 2023 to 31 August 2024

for

PHARE HEALTH LTD

PHARE HEALTH LTD (REGISTERED NUMBER: 15084747)

Contents of the Financial Statements
for the period 21 August 2023 to 31 August 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PHARE HEALTH LTD

Company Information
for the period 21 August 2023 to 31 August 2024







Directors: Dr T Hamamsy
L W Kupferman
Dr M G Seneviratne





Registered office: 221 Pentonville Rd
London
N1 9UZ





Registered number: 15084747 (England and Wales)





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

PHARE HEALTH LTD (REGISTERED NUMBER: 15084747)

Balance Sheet
31 August 2024

Notes £ £
Fixed assets
Intangible assets 4 11,680
Tangible assets 5 9,266
Investments 6 8
20,954

Current assets
Debtors 7 350,770
Cash at bank 1,008,817
1,359,587
Creditors
Amounts falling due within one year 8 5,577
Net current assets 1,354,010
Total assets less current liabilities 1,374,964

Capital and reserves
Called up share capital 9 1
Share premium 1,914,463
Other reserves 438,982
Retained earnings (978,482 )
Shareholders' funds 1,374,964

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 August 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 20 May 2025 and were signed on its behalf by:





L W Kupferman - Director


PHARE HEALTH LTD (REGISTERED NUMBER: 15084747)

Notes to the Financial Statements
for the period 21 August 2023 to 31 August 2024


1. Statutory information

Phare 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
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.

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 statement of financial position 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.

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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - Straight line over 3 years

Investments in subsidiaries
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses.

PHARE HEALTH LTD (REGISTERED NUMBER: 15084747)

Notes to the Financial Statements - continued
for the period 21 August 2023 to 31 August 2024


2. Accounting policies - continued

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.

Taxation
Taxation for the period 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.

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

3. Employees and directors

The average number of employees during the period was 7 .

PHARE HEALTH LTD (REGISTERED NUMBER: 15084747)

Notes to the Financial Statements - continued
for the period 21 August 2023 to 31 August 2024


4. Intangible fixed assets
Patents and
licences
£
Cost
Additions 12,188
At 31 August 2024 12,188
Amortisation
Amortisation for period 508
At 31 August 2024 508
Net book value
At 31 August 2024 11,680

5. Tangible fixed assets
Computer
equipment
£
Cost
Additions 11,836
At 31 August 2024 11,836
Depreciation
Charge for period 2,570
At 31 August 2024 2,570
Net book value
At 31 August 2024 9,266

6. Fixed asset investments
Shares in
group
undertakings
£
Cost
Additions 8
At 31 August 2024 8
Net book value
At 31 August 2024 8

7. Debtors: amounts falling due within one year
£
Amounts owed by group undertakings 311,218
Other debtors 39,552
350,770

Amounts owed by group undertakings are unsecured, non-interest bearing and repayable on demand.

PHARE HEALTH LTD (REGISTERED NUMBER: 15084747)

Notes to the Financial Statements - continued
for the period 21 August 2023 to 31 August 2024


8. Creditors: amounts falling due within one year
£
Trade creditors 1,581
Other creditors 3,996
5,577

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal
value: £
10,000 Ordinary 0.0001 1
3,949 Series Seed Preference 0.0001 -
1

During the year the company sub-divided its 100 Ordinary shares with a nominal value of £0.01 per share into 10,000 Ordinary shares with a nominal value of £0.0001 per share.

During the year the company issued 3,949 Series Seed Preference shares with a nominal value £0.0001 per share. The shares were issued at a premium of £512.52 per share.