REGISTERED NUMBER: 15329542 (England and Wales)

FINANCIAL STATEMENTS

FOR THE PERIOD 6 DECEMBER 2023 TO 31 DECEMBER 2024

FOR

MEDABLE UK LIMITED

Page

Company information

1

Balance sheet

2

Notes to the financial statements

3

Director:

M H Pak

Secretary:

M H Pak

Registered office:

Suite 2, First Floor

10 Temple Back

Bristol

United Kingdom

BS1 6FL

Registered number:

15329542 (England and Wales)

Auditors:

Zome Audit Limited (Statutory Auditor)

5th Floor

111 Charterhouse Street

London

EC1M 6AW

CURRENT ASSETS

Debtors: amounts falling due within one year

4

275,347

Debtors: amounts falling due after more than one year

4

14,673

Cash at bank

1,167,012

1,457,032

CREDITORS

Amounts falling due within one year

5

(866,562

)

NET CURRENT ASSETS

590,470

TOTAL ASSETS LESS CURRENT LIABILITIES

590,470

CAPITAL AND RESERVES

Called up share capital

6

1

Other reserves

124,130

Retained earnings

466,339

SHAREHOLDERS' FUNDS

590,470

590,470

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

In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 November 2025 and were signed by:

M H Pak - Director

1.	STATUTORY INFORMATION

Medable UK Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The company's functional and presentational currency is pounds sterling (GBP) and the financial statements have been rounded to the nearest pound (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover represents amounts charged to the company's parent under a sales and marketing agreement, excluding value added tax. Turnover is recognised when chargeable costs are incurred.

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.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.

Basic financial liabilities

Basic financial liabilities, including creditors, and loans from fellow group companies are initially recognised at transaction price.

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 initially recognised at transaction price.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies

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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Stock option expense

Judgement and estimation are required in determining the fair value of the shares at the date of award. The fair value is estimated using valuation techniques which take into account the award's term, the risk-free interest rate and the expected volatility of the market price of the parent company's shares. Judgement and estimation are also required to assess the number of options expected to vest.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 32 .

4.

DEBTORS

£

Amounts falling due within one year:

Amounts owed by group undertakings

275,347

Amounts falling due after more than one year:

Other debtors

14,673

Aggregate amounts

290,020

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Taxation and social security

330,645

Other creditors

535,917

866,562

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

100

Ordinary

£0.01

1

100 Ordinary shares of £0.01 each were allotted and fully paid for cash at par during the period.

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the auditors was unqualified.

Roy Davis (Senior Statutory Auditor)

for and on behalf of Zome Audit Limited (Statutory Auditor)

8.	ULTIMATE CONTROLLING PARTY

The company's immediate and ultimate parent company is Medable Inc., an entity incorporated in the United States of America.

9.	SHARE-BASED PAYMENT TRANSACTIONS

The company has taken the exemption provided in FRS 102 Section 1.12D not to disclose details of share-based payment arrangements concerning equity instruments of another group entity.