Silverfin false false 31/12/2024 01/01/2024 31/12/2024 S Lande 03/05/2019 L Webber 03/05/2019 21 May 2025 The principal activity of the Company is that of the provision of data analytics for the health sector. 11978627 2024-12-31 11978627 bus:Director1 2024-12-31 11978627 bus:Director2 2024-12-31 11978627 2023-12-31 11978627 core:CurrentFinancialInstruments 2024-12-31 11978627 core:CurrentFinancialInstruments 2023-12-31 11978627 core:ShareCapital 2024-12-31 11978627 core:ShareCapital 2023-12-31 11978627 core:SharePremium 2024-12-31 11978627 core:SharePremium 2023-12-31 11978627 core:RetainedEarningsAccumulatedLosses 2024-12-31 11978627 core:RetainedEarningsAccumulatedLosses 2023-12-31 11978627 core:PatentsTrademarksLicencesConcessionsSimilar 2023-12-31 11978627 core:PatentsTrademarksLicencesConcessionsSimilar 2024-12-31 11978627 core:ComputerEquipment 2023-12-31 11978627 core:ComputerEquipment 2024-12-31 11978627 bus:OrdinaryShareClass1 2024-12-31 11978627 bus:OrdinaryShareClass2 2024-12-31 11978627 2024-01-01 2024-12-31 11978627 bus:FilletedAccounts 2024-01-01 2024-12-31 11978627 bus:SmallEntities 2024-01-01 2024-12-31 11978627 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 11978627 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 11978627 bus:Director1 2024-01-01 2024-12-31 11978627 bus:Director2 2024-01-01 2024-12-31 11978627 core:PatentsTrademarksLicencesConcessionsSimilar core:TopRangeValue 2024-01-01 2024-12-31 11978627 core:ComputerEquipment core:TopRangeValue 2024-01-01 2024-12-31 11978627 2023-01-01 2023-12-31 11978627 core:PatentsTrademarksLicencesConcessionsSimilar 2024-01-01 2024-12-31 11978627 core:ComputerEquipment 2024-01-01 2024-12-31 11978627 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 11978627 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 11978627 bus:OrdinaryShareClass2 2024-01-01 2024-12-31 11978627 bus:OrdinaryShareClass2 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 11978627 (England and Wales)

HEALTHLUMEN LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

HEALTHLUMEN LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

HEALTHLUMEN LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2024
HEALTHLUMEN LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 6,605 7,699
Tangible assets 4 2,780 366
9,385 8,065
Current assets
Debtors 5 364,671 100,335
Cash at bank and in hand 80,757 85,926
445,428 186,261
Creditors: amounts falling due within one year 6 ( 233,109) ( 54,595)
Net current assets 212,319 131,666
Total assets less current liabilities 221,704 139,731
Net assets 221,704 139,731
Capital and reserves
Called-up share capital 7 118 118
Share premium account 714,942 714,942
Profit and loss account ( 493,356 ) ( 575,329 )
Total shareholders' funds 221,704 139,731

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Healthlumen Limited (registered number: 11978627) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

S Lande
Director

21 May 2025

HEALTHLUMEN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
HEALTHLUMEN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 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

Healthlumen Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

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

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Trademarks, patents and licences 10 years straight line
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:

Computer equipment 3 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.

Leases

The company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset. The Company has taken advantage of the optional exemption available on transition to FRS 102 which allows lease incentives on leases entered into before the date of transition to the standard 01 January 2020 to continue to be charged over the period to the first market rent review rather than the term of the lease.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from related parties.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and 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.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

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 Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including directors 8 9

3. Intangible assets

Trademarks, patents
and licences
Total
£ £
Cost
At 01 January 2024 10,947 10,947
At 31 December 2024 10,947 10,947
Accumulated amortisation
At 01 January 2024 3,248 3,248
Charge for the financial year 1,094 1,094
At 31 December 2024 4,342 4,342
Net book value
At 31 December 2024 6,605 6,605
At 31 December 2023 7,699 7,699

4. Tangible assets

Computer equipment Total
£ £
Cost
At 01 January 2024 14,253 14,253
Additions 3,601 3,601
At 31 December 2024 17,854 17,854
Accumulated depreciation
At 01 January 2024 13,887 13,887
Charge for the financial year 1,187 1,187
At 31 December 2024 15,074 15,074
Net book value
At 31 December 2024 2,780 2,780
At 31 December 2023 366 366

5. Debtors

2024 2023
£ £
Trade debtors 334,550 63,788
Prepayments and accrued income 19,326 36,417
VAT recoverable 4,665 0
Other debtors 6,130 130
364,671 100,335

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 22,987 16,889
Amounts owed to directors 20,000 0
Accruals and deferred income 169,986 9,930
Other taxation and social security 18,305 25,781
Other creditors 1,831 1,995
233,109 54,595

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
103,274 Ordinary shares of £ 0.001 each 103 103
14,696 Ordinary B shares of £ 0.001 each 15 15
118 118

8. Financial commitments

Pensions

The company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

2024 2023
£ £
Unpaid contributions due to the fund (inc. in other creditors) 1,831 1,995

9. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Included in creditors is a balance owed to a director. This balance is unsecured and interest free with no fixed repayment terms. 20,000 0