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Registered number (England and Wales) : 11602781










HIMS & HERS UK LIMITED









ANNUAL REPORT AND FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
HIMS & HERS UK LIMITED
REGISTERED NUMBER:11602781

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
As restated
Notes
£
£

Fixed assets
  

Intangible assets
 5 
-
4,578

Tangible assets
 6 
113,677
101,736

  
113,677
106,314

Current assets
  

Stocks
  
220,623
138,929

Debtors
 7 
947,402
703,106

Cash at bank and in hand
  
6,272,954
511,305

Current liabilities
  
7,440,979
1,353,340

Creditors
 8 
(1,600,069)
(8,167,932)

Net current assets/(liabilities)
  
5,840,910
(6,814,592)

Total assets less current liabilities
  
 
 
5,954,587
 
 
(6,708,278)

Net assets/(liabilities)
  
5,954,587
(6,708,278)


Capital and reserves
  

Call up share capital
 9 
313
258

Share premium account
  
12,473,979
261,862

Share option reserves
  
1,059,007
492,668

Profit and loss reserves
  
(7,578,712)
(7,463,066)

Total equity
  
5,954,587
(6,708,278)


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

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and were signed on its behalf by: 






I Becklund
Director
Page 1

 
HIMS & HERS UK LIMITED
REGISTERED NUMBER:11602781

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024


Date: 28 May 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
HIMS & HERS UK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Hims & Hers UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is 5th Floor Halo, Counterslip, Bristol, United Kingdom, BS1 6AJ. The financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £ unless otherwise stated.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The principal accounting policies adopted are set out below.

  
2.2

Going concern

These financial statements are prepared on the going concern basis. The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future. However, the directors are aware of certain material uncertainties which may cause doubt on the company's ability to continue as a going concern. The company relies heavily on the support of their parent company and they have expressed their continued support for a minimum of 12 months from the date of the accounts approval.

  
2.3

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, and other sales taxes. Turnover from the sale of goods is recognised when goods have been shipped to customers.

  
2.4

 Intangible assets

Intangible assets acquired are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Other - 1 year

  
2.5

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Facility equipment - 20% reducing balance
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.

Page 3

 
HIMS & HERS UK LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

  
2.6

Stocks

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

  
2.7

Cash

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

  
2.8

Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with 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.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual
arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable 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.

  
2.9

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.

  
2.10

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock.

Page 4

 
HIMS & HERS UK LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

  
2.11

Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

  
2.12

Share based payments

The company's parent company has granted rights to its equity instruments to employees of Hims & Hers UK Limited. Such arrangements are accounted for as equity-settled share-based payment arrangements and a capital contribution is recognised to the extent that the company is not recharged by its parent.
Equity-settled share-based payments to employees and others providing similar services are measured at the fair value of the equity instruments at the grant date. The fair value excludes the effect of non market-based vesting conditions. The fair value determined at the grant date of the equity-settled share-based payments is expensed on a straight-line basis over the vesting period, based on the company's estimate of equity instruments that will eventually vest. At each balance sheet date, the company revises its estimate of the number of equity instruments expected to vest as a result of the effect of non market-based vesting conditions. The impact of the revision of the original estimates, if any, is recognised in profit or loss such that the cumulative expense reflects the revised estimate, with a corresponding adjustment to equity reserves.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. There were no significant accounting judgements or estimates used in the production of these financial statements.


4.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023: 4).

Page 5

 
HIMS & HERS UK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Intangible assets




Other

£





At 1 January 2024
6,104


Assets written off
(6,104)



At 31 December 2024

-





At 1 January 2024
1,526


Charge for the year on owned assets
4,578


Assets written off
(6,104)



At 31 December 2024

-



Net book value



At 31 December 2024
-



At 31 December 2023
4,578




6.


Tangible fixed assets





Facility equipment

£



Cost or valuation


At 1 January 2024
105,975


Additions
53,678



At 31 December 2024

159,653


At 1 January 2024
4,239


Charge for the year on owned assets
41,737



At 31 December 2024

45,976



Net book value



At 31 December 2024
113,677



At 31 December 2023
101,736

Page 6

 
HIMS & HERS UK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
185,825
-

Other debtors
729,062
703,106

Prepayments
32,515
-

Total Debtors
947,402
703,106



8.


Creditors

2024
2023
£
£

Trade creditors
1,215,839
1,858,531

Amounts owed to group undertakings
-
5,710,783

Taxation and social security
175,027
3,245

Other creditors
21,106
153,420

Accruals and deferred income
188,097
441,953

Total Creditors
1,600,069
8,167,932



9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



3,127,631 (2023 - 2,580,000) Ordinary share capital shares of £0.0001 each
313
258


On 23 July 2024, the Company issued 323,416 ordinary shares of £0.0001 each at a price of £22.30. This was settled by a payment of £19.66 and the settlement of an intercompany balance of £7,212.157.14. Share premium of £7,212,144.46 was recognised.
On 25 July 2024, the Company issued 224,215 ordinary shares of £0.0001 each at a price of £22.30. This was settled in cash. Share premium of £4,999,972.08 was recognised.


10.


Parent company

Hims & Hers UK Limited is a wholly owned subsidiary of Hims, Inc, a company registered in the United States.


11.


Related party transactions

The company has taken advantage of the exemption contained in FRS 102 section 33 "Related Party Disclosures" from disclosing transactions with entities which are a wholly owned part of the group.

Page 7

 
HIMS & HERS UK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

12.


Impact of prior year restatement

The results of the year ended 31 December 2023 and 2022 have be restated due to the Company incorrectly omitting equity based share based payment expenses. This has impacted the Profit and Loss Account and Balance Sheet along with opening retained earnings of 31 March 2023 and 2022.


2024
2023
£
£

Profit and Loss Account
 
Administrative expenses


Balance as at 31 December as stated
14,065,283
6,049,750

Adjustment
298,574
194,094

Restated balance as at 31 December
14,363,857
6,243,844

Capital and reserves
 
Share Option reserve


Balance as at 31 December as stated
-
-

Adjustment
492,668
194,094

Restated balance as at 31 December
492,668
194,094

 
Profit and Loss Account


Balance as at 31 December as stated
(6,970,398)
(3,077,329)

Adjustment
(492,668)
(194,094)

(7,463,066)
(3,271,423)


13.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 28 May 2025 by Chris Howitt (Senior Statutory Auditor) on behalf of Henton & Co LLP.

Page 8