| REGISTERED NUMBER: |
| Financial Statements |
| for the Period 1 January 2023 to 30 May 2024 |
| for |
| Clinitek (Malvern) LLP |
| REGISTERED NUMBER: |
| Financial Statements |
| for the Period 1 January 2023 to 30 May 2024 |
| for |
| Clinitek (Malvern) LLP |
| Clinitek (Malvern) LLP (Registered number: OC425697) |
| Contents of the Financial Statements |
| for the Period 1 January 2023 to 30 May 2024 |
| Page |
| General Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Clinitek (Malvern) LLP |
| General Information |
| for the Period 1 January 2023 to 30 May 2024 |
| DESIGNATED MEMBERS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Statutory Auditors |
| Chartered Accountants |
| The Mills |
| Canal Street |
| Derby |
| DE1 2RJ |
| Clinitek (Malvern) LLP (Registered number: OC425697) |
| Balance Sheet |
| 30 May 2024 |
| 2024 | 2022 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
| NET ASSETS ATTRIBUTABLE TO MEMBERS |
4,600 |
1 |
| LOANS AND OTHER DEBTS DUE TO MEMBERS |
8 |
4,500 |
- |
| MEMBERS' OTHER INTERESTS |
| Capital accounts | 100 | 1 |
| 4,600 | 1 |
| TOTAL MEMBERS' INTERESTS |
| Loans and other debts due to members | 8 | 4,500 | - |
| Members' other interests | 100 | 1 |
| Amounts due from members | 5 | - | (19,662,028 | ) |
| 4,600 | (19,662,027 | ) |
| The financial statements were approved by the members of the LLP and authorised for issue on |
| Clinitek (Malvern) LLP (Registered number: OC425697) |
| Notes to the Financial Statements |
| for the Period 1 January 2023 to 30 May 2024 |
| 1. | STATUTORY INFORMATION |
| Clinitek (Malvern) LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going concern |
| As at the date of signing, the LLP does not have a functional plant which is capable of generating revenue. This condition significantly impacts the LLP and as such indicate that a material uncertainty exists that may cast doubt on the LLP's ability to operate as a going concern. |
| The designated members and their parent entities have pledged to support the LLP's working capital requirements for a period of 12 months from the signing and approval of the accounts. Accordingly, the going concern basis has been adopted in the financial statements. |
| Turnover |
| Turnover is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Tangible fixed assets under the cost model are stated at historical cost less any accumulated impairment losses. Cost includes professional fees and other attributable costs that are necessary to bring the asset to its operating condition. |
| No depreciation has been provided on the asset still under construction at the Balance Sheet date. |
| At each reporting date the LLP assess whether there is any indication of impairment. If such indication exists, the recoverable amount for the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount. |
| The assets' residual value, useful lives and depreciation methods are reviewed, and adjusted |
| prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. |
| Exceptional items |
| Exceptional items are transactions that are presented separately due to their extraordinary size or incidence. |
| 3. | EMPLOYEE INFORMATION |
| The average number of employees during the period was NIL (2022 - NIL). |
| Clinitek (Malvern) LLP (Registered number: OC425697) |
| Notes to the Financial Statements - continued |
| for the Period 1 January 2023 to 30 May 2024 |
| 4. | TANGIBLE FIXED ASSETS |
| Asset |
| under |
| construction |
| £ |
| COST |
| At 1 January 2023 |
| Additions |
| Impairments | (607,187 | ) |
| At 30 May 2024 |
| NET BOOK VALUE |
| At 30 May 2024 |
| At 31 December 2022 |
| Within the additions value above, £231,248 relates to capitalised loan interest. |
| An impairment review conducted at the period end based on the sale price of 100% of the membership interests of the LLP concluded that the net realisable value of the Asset under construction was significantly less than its carrying amount, thus an impairment of £607,187 was recognised to restate the asset at its net realisable value. |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2022 |
| £ | £ |
| Amounts owed by group undertakings |
| Amounts due from members | - | 19,662,028 |
| Other debtors |
| Prepayments |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2022 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Accrued expenses |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2022 |
| £ | £ |
| Loans |
| Clinitek (Malvern) LLP (Registered number: OC425697) |
| Notes to the Financial Statements - continued |
| for the Period 1 January 2023 to 30 May 2024 |
| 8. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
| 2024 | 2022 |
| £ | £ |
| Amounts owed to members in respect of profits | 4,500 | - |
| Falling due within one year | 4,500 | - |
| Loans and other debts due to members will rank equally with debts due to ordinary creditors in the event of a winding up. |
| 9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| We draw attention to note 2 - Going concern in the financial statements, which indicates that the LLP does not have a functional plant capable of generating revenue. This is sufficient to indicate that a material uncertainty exists that may cast significant doubt over the LLP's ability to continue as a going concern. |
| The designated members and their parent entities have pledged to support the LLP's working capital requirements for a period of 12 months from the signing and approval of the accounts. Our opinion is not modified in respect of this matter. |
| In auditing the financial statements, we have concluded that the members' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
| for and on behalf of |
| 10. | RELATED PARTY DISCLOSURES |
| The LLP incurred management service charges from Equitix Management Services Limited of £71,497 (2022: £82,480). At the period end, the amount due to Equitix Management Services Limited was £nil (2022: £nil). Equitix Management Services Limited is a related company by way of its mutual ultimate parent company in relation to the LLP's previous members. |
| The LLP wrote off £184,619 (2022: £nil) of rental debt owed to Clinitek (Prop) LLP by way of mutual agreement. Clinitek (Prop) LLP is a related company by way of its mutual ultimate parent company. |
| At the period end, the amount due to Thermeco SWIP Holdco Limited was £1,873,889 (2022 £nil). Thermeco SWIP Holdco Limited by way of it's mutual ultimate parent company. |