Acorah Software Products - Accounts Production 16.3.350 false true true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 13045706 Mr S Sahin Mr J Suarez true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13045706 2023-12-31 13045706 2024-12-31 13045706 2024-01-01 2024-12-31 13045706 frs-core:CurrentFinancialInstruments 2024-12-31 13045706 frs-core:ComputerEquipment 2024-12-31 13045706 frs-core:ComputerEquipment 2024-01-01 2024-12-31 13045706 frs-core:ComputerEquipment 2023-12-31 13045706 frs-core:WithinOneYear 2024-12-31 13045706 frs-core:OtherReservesSubtotal 2024-12-31 13045706 frs-core:ShareCapital 2024-12-31 13045706 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 13045706 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 13045706 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 13045706 frs-bus:SmallEntities 2024-01-01 2024-12-31 13045706 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 13045706 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 13045706 1 2024-01-01 2024-12-31 13045706 frs-bus:Director1 2024-01-01 2024-12-31 13045706 frs-bus:Director2 2024-01-01 2024-12-31 13045706 frs-countries:EnglandWales 2024-01-01 2024-12-31 13045706 2022-12-31 13045706 2023-12-31 13045706 2023-01-01 2023-12-31 13045706 frs-core:CurrentFinancialInstruments 2023-12-31 13045706 frs-core:WithinOneYear 2023-12-31 13045706 frs-core:OtherReservesSubtotal 2023-12-31 13045706 frs-core:ShareCapital 2023-12-31 13045706 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 13045706
Oliva Health Limited
Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—6
Page 1
Balance Sheet
Registered number: 13045706
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 8,850 17,548
8,850 17,548
CURRENT ASSETS
Debtors 5 499,111 174,217
Cash at bank and in hand 350,113 499,665
849,224 673,882
Creditors: Amounts Falling Due Within One Year 6 (11,383,533 ) (8,215,096 )
NET CURRENT ASSETS (LIABILITIES) (10,534,309 ) (7,541,214 )
TOTAL ASSETS LESS CURRENT LIABILITIES (10,525,459 ) (7,523,666 )
NET LIABILITIES (10,525,459 ) (7,523,666 )
CAPITAL AND RESERVES
Called up share capital 1 1
Other reserves 25,062 9,293
Profit and Loss Account (10,550,522 ) (7,532,960 )
SHAREHOLDERS' FUNDS (10,525,459) (7,523,666)
For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr S Sahin
Director
5 June 2025
The notes on pages 2 to 6 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Oliva Health Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13045706 . The registered office is 71-75 Shelton Street, London, WC2H 9JQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The company has taken advantage of the exemption provided by Section 399 of the Companies Act 2006 from the requirement to prepare consolidated financial statements as the group qualifies as a small group, as defined by Section 383 of the Companies Act 2006. As such, these financial statements present information about the company as an individual entity and not about its group.
2.2. Going Concern Disclosure
The financial statements have been prepared on a going concern basis, notwithstanding the company’s net liabilities of £10,787,631 at the balance sheet date. The directors have assessed the company’s financial position and believe it is appropriate to prepare the financial statements on a going concern basis due to the ongoing financial support from its parent entity, Oliva Health Holdings Inc. The parent entity has confirmed its intention to provide financial support to the company to ensure it can meet its liabilities as they fall due for at least the next 12 months from the date of approval of these financial statements.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 33% Straight Line
2.5. Leasing and Hire Purchase Contracts
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Financial Instruments
The company has elected to apply the provisions of Section 11 Basic Financial Instruments and Section 12 Other Financial Instruments Issues of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes a 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 and are subsequently carried at amortised cost using the effective interest method, 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial instruments

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
...CONTINUED
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2.6. Financial Instruments - continued

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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 and subsequently at amortised cost using the effective interest method.
2.7. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.9. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.10. Research and Development
Research expenditure is written off against profits in the year in which it is incurred.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 14 (2023: 15)
14 15
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4. Tangible Assets
Computer Equipment
£
Cost
As at 1 January 2024 37,516
As at 31 December 2024 37,516
Depreciation
As at 1 January 2024 19,968
Provided during the period 8,698
As at 31 December 2024 28,666
Net Book Value
As at 31 December 2024 8,850
As at 1 January 2024 17,548
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 161,288 95,044
Other debtors 337,823 79,173
499,111 174,217
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 27,947 14,645
Amounts owed to group undertakings 10,499,965 7,573,090
Other creditors 776,105 523,196
Taxation and social security 79,516 104,165
11,383,533 8,215,096
7. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 32,940 43,920
32,940 43,920
8. Related Party Transactions
At the year-end the company owed £10,024,105 (2023: £7,276,957) to Olivia Health Holdings Inc, the parent company. The amounts are unsecured, interest-free and repayable on demand.

At the year end the company owed £475,860 (2023: £296,133) to Oliva Health S.L.L.  a company under common control with the parent company. The amounts are unsecured, interest free, and repayble on demand.
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9. Ultimate Controlling Party
The company's immediate and ultimate parent undertaking is Oliva Health Holdings Inc. There is no ultimate controlling party.
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10. Share-based payments
The company operates an approved EMI Share Option Plan where certain employees are granted options to purchase shares in the company. On exercise of the options by the employees, the company issues new shares.

The options are only exercisable on exit - the options have a 4 year vesting period.

The following table illustrates the number and weighted average exercise prices (WAEP) of, and movements in, share options during the year under the Approved EMI Share Option Plan.
2024
No.
image
2024
WAEP £
image
2023
No.
image
2023
WAEP £
image
Outstanding at 1 January
944,109
0.05
-
-
Granted during the year
1,961,023

0.11

944,109

0.05

Lapsed during the year
                    (7,862)
image
                         0.12
image
-
image
-
image
Outstanding at 31 December
2,897,270
image
0.10
image
944,109
image
0.05
image
Exercisable at 31 December
1,329,567
image
0.10
image
570,399
image
0.05
image


The company is unable to directly measure the fair value of employee services received. Instead, the fair value of the share options granted during the year is determined using the Black-Scholes model. This model is internationally recognised as being appropriate for valuing employee share schemes similar to the one the company has in place.

During the year a charge of £15,769 (2023: £9,293) has been recognised.
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