HLTHIE LABS LTD


Director	Amitkumar Patel


Company Secretary	Amitkumar Patel


Registered Address	71-75 Shelton Street
	Covent Garden
	London
	WC2H 9JQ


Registered Number	14465814 (England and Wales)

Notes to the Financial Statements
for the year ended 31 January 2025

1.	Accounting policies

	Statutory information
	Hlthie Labs Limited is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2066 and is registered in England and Wales. The address of the companies registered office is 71-75 Shelton Street, Covent Garden, London, United Kingdom, WC2H 9JQ.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	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.

	Employee benefits
	Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

Employee benefits

Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Current taxation
	Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

Current taxation

Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income.

Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Intangible assets
	Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.

	Research and development
	All research costs are expensed. Costs related to the development of products are capitalised when they meet the criteria stated in FRS 102, Section 18 Intangible assets other than Goodwill. All other development expenditure is recognised as an expense in the period in which it is incurred.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


		Reducing balance (%)
	Fixtures and fittings	10
	Office Equipment	33

	Impairment of non-financial assets policy
	Assets which are not carried at fair value are reviewed for evidence of impairment at each reporting date. Where the asset is showing indicators of impairment, the recoverable amount of the asset, is estimated and then compared to the carrying value in the financial statements. Where the carrying amount is in excess of recoverable amount, an impairment loss is recognised in profit or loss.

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Cash and cash equivalents
	Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less.

Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Financial instruments
	A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment.

Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. 

2.	Average number of employees


		2025		2024
	Average number of employees during the year	6		6

3.	Intangible assets

		Total
		£
	Cost or valuation
	At 01 February 24	685,259
	Additions	128,414
	At 31 January 25	813,673
	Amortisation and impairment
	Charge for year	241,863
	At 31 January 25	241,863
	Net book value
	At 31 January 25	571,810
	At 31 January 24	685,259

4.	Tangible fixed assets

		Total
		£
	Cost or valuation
	At 01 February 24	29,561
	At 31 January 25	29,561
	Depreciation and impairment
	At 01 February 24	9,839
	Charge for year	6,490
	At 31 January 25	16,329
	Net book value
	At 31 January 25	13,232
	At 31 January 24	19,722

5.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	396	-
Other debtors	19,112	-
Total	19,508	-

6.	Debtors: amounts due after one year

	2025	2024
	£	£
Other debtors	57	57
Total	57	57

7.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	38,313	1,106
Taxation and social security	87,517	35,110
Other creditors	205	1,786
Accrued liabilities and deferred income	3,750	-
Total	129,785	38,002

8.	Creditors: amounts due after one year

	2025	2024
	£	£
Other creditors	1,084,314	716,738
Total	1,084,314	716,738

9.	Change in reporting period and impact on comparability
	Comparative amounts shown in the balance sheet relate to the 15-month period ended 31 January 2024. The current year covers a 12-month period ending 31 January 2025.

10.	Description of reasons for any change in chosen formats of the financial statments
	The company has adopted FRS 102 Section 1A for the current year, having previously prepared accounts under FRS 105. Under FRS 105, development costs were capitalised in error; under FRS 102 Section 1A these have been reassessed and recognised as intangible assets amortised over five years.

	Notes	2025		2024
		£	£	£	£
Fixed assets
Intangible assets	3		571,810		685,259
Tangible assets	4		13,232		19,722
			585,042		704,981
Current assets
Debtors	5,6	19,565		57
Cash at bank and on hand		6,221		44,975
		25,786		45,032
Creditors amounts falling due within one year	7	(129,785)		(38,002)
Net current assets (liabilities)			(103,999)		7,030
Total assets less current liabilities			481,043		712,011
Creditors amounts falling due after one year	8		(1,084,314)		(716,738)
Net assets			(603,271)		(4,727)
Capital and reserves
Called up share capital			100		100
Profit and loss account			(603,371)		(4,827)
Shareholders' funds			(603,271)		(4,727)