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Unaudited Financial Statements for the Year Ended 31 January 2022 |
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eClinicalHealth Ltd |
REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 January 2022 |
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for |
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eClinicalHealth Ltd |
eClinicalHealth Ltd (Registered number: SC416239) |
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Contents of the Financial Statements |
for the Year Ended 31 January 2022 |
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Page |
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Balance Sheet | 1 |
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Notes to the Financial Statements | 3 |
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eClinicalHealth Ltd (Registered number: SC416239) |
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Balance Sheet |
31 January 2022 |
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31.1.22 | 31.1.21 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital |
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Share premium |
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Capital redemption reserve |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
eClinicalHealth Ltd (Registered number: SC416239) |
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Balance Sheet - continued |
31 January 2022 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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eClinicalHealth Ltd (Registered number: SC416239) |
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Notes to the Financial Statements |
for the Year Ended 31 January 2022 |
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1. | STATUTORY INFORMATION |
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eClinicalHealth Ltd is a private company, limited by shares, domiciled in Scotland, registration number SC416239. The registered office is Upper Floor, Wing C, Logie Court, Stirling University Innovation Park, Stirling, FK9 4NF. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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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. |
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Turnover |
Turnover represents net invoiced sales of goods and services in respect of software and consultancy, excluding value added tax. Sales are recognised at the point at which the goods are delivered or the service is complete. |
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Tangible fixed assets and depreciation |
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Short leasehold | - |
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Fixtures and fittings | - |
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Computer equipment | - |
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Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition. |
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The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value. |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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Taxation |
Taxation for the year 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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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 year end and that are expected to apply to the reversal of the timing difference. |
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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. |
eClinicalHealth Ltd (Registered number: SC416239) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 January 2022 |
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2. | ACCOUNTING POLICIES - continued |
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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. |
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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. |
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Provisions |
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material. |
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Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is |
determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small. |
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Going concern |
The directors of the company have reviewed the company's financial position for 12 months from the balance sheet signing date and it is the directors' belief that the company should prepare the financial statements on a going concern basis. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Short | and | Computer |
leasehold | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 February 2021 |
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Additions |
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Disposals |
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At 31 January 2022 |
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DEPRECIATION |
At 1 February 2021 |
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Charge for year |
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Eliminated on disposal |
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At 31 January 2022 |
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NET BOOK VALUE |
At 31 January 2022 |
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At 31 January 2021 |
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eClinicalHealth Ltd (Registered number: SC416239) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 January 2022 |
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5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 February 2021 |
and 31 January 2022 |
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NET BOOK VALUE |
At 31 January 2022 |
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At 31 January 2021 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.22 | 31.1.21 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Tax |
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VAT |
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Deferred tax asset |
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Prepayments and accrued income |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.22 | 31.1.21 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Social security and other taxes |
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VAT | - | 2,079 |
Directors' current accounts | 6,562 | 82,562 |
Accruals and deferred income |
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Deferred government grants |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.1.22 | 31.1.21 |
£ | £ |
Bank loans - 1-2 years |
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Bank loans - 2-5 years |
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Bank loans more 5 yr by instal |
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Other loans - 1-2 years |
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Other creditors |
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Directors' loan accounts | 76,000 | - |
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eClinicalHealth Ltd (Registered number: SC416239) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 January 2022 |
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8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
31.1.22 | 31.1.21 |
£ | £ |
Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | - | 16,667 |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.1.22 | 31.1.21 |
£ | £ |
Bank loans |
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Director loan accounts | 76,000 | 76,000 |
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In relation to the CBILS facility, HSBC hold a floating charge over all the assets and undertaking. |
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In relation to £76,000 of the director loans, there is a floating charge in favour of the directors which ranks behind the security held by HSBC. |