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Registered number: 10996079
HEALTHY. IO (UK) LTD
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2024
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HEALTHY. IO (UK) LTD
REGISTERED NUMBER: 10996079
BALANCE SHEET
AS AT 31 DECEMBER 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Share based payment reserve
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The Company's 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 statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 3 to 12 form part of these financial statements.
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HEALTHY. IO (UK) LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
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Share based payment reserve
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Comprehensive income for the year
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Share based payment movement
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Total comprehensive income for the year
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Comprehensive income for the year
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Share based payment movement
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Total comprehensive income for the year
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The notes on pages 3 to 12 form part of these financial statements.
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HEALTHY. IO (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Healthy. IO (UK) Limited (the "Company") is a private company limited by shares, incorporated in England and Wales. The Company's registered number is 10996079. The address of the Company's registered office is c/o Hillier Hopkins LLP, 45 Pall Mall, London, SW1Y 5JG.
The Company's principal activity during the year continued to be the provision of remote clinical testing and services enabled by smartphone technology.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
Effective from the balance sheet date, the company has chosen to early adopt the amendments to FRS 102 issued in the Periodic Review 2024, which are otherwise effective for accounting periods beginning on or after 1 January 2026. These amendments have been considered in the preparation of these financial statements.
The most significant impact of early adoption relates to the following areas:
Changes in the accounting for leases, where an on-balance sheet model has been applied for lessees, resulting in the recognition of right-of-use assets and lease liabilities. In line with the transitional provisions of FRS 102, the company has not restated prior year figures. Depreciation is charged so as to allocate the cost of assets over the period of the lease liability.
Revenue recognition is now based on the five-step model for revenue recognition from IFRS 15 Revenue from Contracts with Customers, with appropriate simplifications.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
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HEALTHY. IO (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
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Financial Reporting Standard 102 - reduced disclosure exemptions
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The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
∙the requirements of Section 26 Share-based Payment paragraphs 26.18(b), 26.19 to 26.21 and 26.23;
∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of Healthy.IO Ltd as at 31 December 2024 and these financial statements may be obtained from 8 Yizhak Sade 2, Tel Aviv, Israel.
The Company's business activities, together with an assessment of the various risks faced by the Company and the factors likely to affect the Company's future development and position, are noted within the Strategic report.
The Company meets its day-to-day working capital requirements through its cash reserves and ongoing support form it’s parent company Healthy.io Limited. The parent company have indicated their willingness to continue supporting the Company as required.
The Director has reviewed the business' forecasts and budgets for a period of 12 months from the date of approval of these financial statements. These forecasts, taking account of reasonably possible changes in trading performance, arising out of current economic uncertainties, and making reasonable assumptions about exchange rate fluctuations, show that the Company should be able to operate within its existing facilities, at least 12 months from the date of signing the annual report and financial statements.
On the basis of their assessment of the Company's financial position, risks faced and confirmations' received from the Director of the Company in respect of ongoing support, the Company's Director has a reasonable expectation that the Company has adequate resources to continue to operate for the foreseeable future and adopt the going concern basis in preparing the annual report and accounts.
The parent company is committed to supporting the Company to meet its obligations as and when they fall due for at least 12 months from the date of signing the financial statements.
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HEALTHY. IO (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
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Foreign currency translation
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Functional and presentation currency
The Company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
∙the Company has transferred the significant risks and rewards of ownership to the buyer;
∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the transaction; and
∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.
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HEALTHY. IO (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
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Operating leases: the Company as lessee
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Short term leases
Short term leases are defined as being those with a term of one year or under are charged to profit or loss on a straight-line basis over the lease term.
Long term leases - leased assets
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company.
Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Interest income is recognised in profit or loss using the effective interest method.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
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 Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
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HEALTHY. IO (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
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Long-term leasehold property
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The assets' residual values, 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.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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HEALTHY. IO (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The Company only enters into basic financial instrument transactions which result in the recognition of financial assets and liabilities like trade and other debtors and creditors, and loans to related parties.
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Employee share ownership plan
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The parent entity administers an ESOP share scheme of which the UK employees also receive a benefit.
Where share options are awarded to employees, the fair value of the options at the date of grant is calculated over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each Statement of Financial Position date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted.
Based on the above calculations a recharge is made to the UK entity from the parent for the yearly cost of the scheme which is recognised in the Statement of Comprehensive Income with the other entry being a share based payment reserve.
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HEALTHY. IO (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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The average monthly number of employees, including the director, during the year was as follows:
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Long-term leasehold property
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Charge for the year on owned assets
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The net book value of land and buildings may be further analysed as follows:
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HEALTHY. IO (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Finished goods and goods for resale
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Amounts owed by group undertakings
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Prepayments and accrued income
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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HEALTHY. IO (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Charged to profit or loss
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The deferred tax asset is made up as follows:
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Accelerated capital allowances
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Share based payment reserve
The Share based payment reserve represents the cumulative charge in respect of the share options awarded to employees of the Company.
Profit and loss account
Retained earnings represents the cumulative profit and losses of the Company, less the payment of dividends.
The Company operates a Employee Share Option Scheme for the benefit of certain employees. The options are granted over the shares of the parent undertaking with an exercise price equal to the actual market value of each share as at the date of grant and can only be exercised while the option holder remains an employee of the Company and in limited circumstances.
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £53,533 (2023 - £83,276). Contributions totalling £23,915 (2023 - £12,783) were payable to the fund at the Statement of Financial Position date and are included in other creditors.
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HEALTHY. IO (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Related party transactions
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The Company has taken advantage of the exemption available in accordance with Section 33 'Related party disclosure' of FRS 102 not to disclose transactions entered into between two or more members of a group that are wholly owned.
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The immediate and ultimate parent undertaking is Healthy.IO Ltd., a Company incorporated in Israel, whose registered office is 8 Yizhak Sadeh 2,. Tel Aviv, Israel.
The largest and smallest group of which Healthy.IO (UK) Ltd. is a member and for which consolidated financial statements are drawn up is that headed by Healthy.IO Ltd., a company incorporated in Israel. The registered office of Healthy.IO Ltd. is 8 Yizhak Sadeh 2,. Tel Aviv, Israel. Consolidated financial statements for the year ended 31 December 2024 are publicly available and can be obtained from 8 Yizhak Sadeh 2,. Tel Aviv, Israel.
There is considered to be no ultimate controlling party of the Group.
The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.
The audit report was signed on 30 September 2025 by Louise Cherry ACA (Senior Statutory Auditor) on behalf of Hillier Hopkins LLP.
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