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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD 2 AUGUST 2018 TO 31 AUGUST 2019 |
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SPAN HEALTH LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD 2 AUGUST 2018 TO 31 AUGUST 2019 |
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FOR |
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SPAN HEALTH LIMITED |
SPAN HEALTH LIMITED (REGISTERED NUMBER: 11497171) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 2 AUGUST 2018 TO 31 AUGUST 2019 |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 3 |
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SPAN HEALTH LIMITED |
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COMPANY INFORMATION |
FOR THE PERIOD 2 AUGUST 2018 TO 31 AUGUST 2019 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Stapleton House Second Floor |
110 Clifton Street |
London |
EC2A 4HT |
SPAN HEALTH LIMITED (REGISTERED NUMBER: 11497171) |
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STATEMENT OF FINANCIAL POSITION |
31 AUGUST 2019 |
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Notes | £ |
CURRENT ASSETS |
Debtors | 4 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 7 |
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Other reserves |
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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 |
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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. |
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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 on
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SPAN HEALTH LIMITED (REGISTERED NUMBER: 11497171) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 2 AUGUST 2018 TO 31 AUGUST 2019 |
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1. | STATUTORY INFORMATION |
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Span Health Limited is a
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registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Significant judgements and estimates |
There have been no significant judgements or estimates applied to the numbers contained within these financial |
statements. |
SPAN HEALTH LIMITED (REGISTERED NUMBER: 11497171) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 2 AUGUST 2018 TO 31 AUGUST 2019 |
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2. | ACCOUNTING POLICIES - continued |
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Financial instruments |
The Company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments. |
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(i) Financial assets |
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Basic financial assets, including trade and other debtors, cash and bank balances and investments in commercial |
paper, are initially recognised at transaction price, 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. Such |
assets are subsequently carried at amortised cost using the effective interest method. |
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At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of |
impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present |
value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is |
recognised in the Income Statement. |
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If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the |
impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying |
amount would have been had the impairment not previously been recognised. The impairment reversal is recognised |
in the Income Statement. |
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Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint |
ventures, are initially measured at fair value, which is normally the transaction price. |
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Such assets are subsequently carried at fair value and the changes in fair value are recognised in, the Income |
Statement, except that investments in equity instruments that are not publicly traded and whose fair values cannot be |
measured reliably are measured at cost less impairment. |
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Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or settled, or |
(b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control |
of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an |
unrelated third party without imposing additional restrictions. |
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(ii) Financial liabilities |
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Basic financial liabilities, including trade and other creditors, loans from fellow Group companies 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 the future payments discounted at a market rate of interest. |
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Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
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Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of |
business from suppliers. Creditors are classified as current liabilities if payment is due within one year. If not, they |
are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently |
measured at amortised cost using the effective interest method. |
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Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is |
discharged, cancelled or expires. |
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SPAN HEALTH LIMITED (REGISTERED NUMBER: 11497171) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 2 AUGUST 2018 TO 31 AUGUST 2019 |
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2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the period comprises current 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 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 statement of financial position date. |
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Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement |
of financial position 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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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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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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Going concern |
The financial statements have been prepared on the going concern basis. The company has incurred losses during the |
period. However, the directors have a reasonable expectation that the performance of the company will become |
profitable when the research and development stage has been completed and the company becomes fully operational. |
They were successful in raising additional investments during the period and believe the company has sufficient |
cash resources to meet its future liabilities, as and when they become due. On this basis, they are therefore of the |
opinion that they should continue to adopt the going concern basis in preparing the annual financial statements. |
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Cash and cash equivalents |
Cash and cash equivalents comprise cash on hand and demand deposits and other short-term highly liquid |
investments that are readily convertible to a known amount of cash and are subject to an insignificant risk to changes |
in value. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Other debtors |
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SPAN HEALTH LIMITED (REGISTERED NUMBER: 11497171) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 2 AUGUST 2018 TO 31 AUGUST 2019 |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
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Taxation and social security |
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Other creditors |
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6. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
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Within one year |
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7. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal |
value: | £ |
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Ordinary | £0.1 | 100 |
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8. | RELATED PARTY DISCLOSURES |
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The directors settled expenses totalling £217 on behalf of the company and received payments of £48. As at the end |
of the financial period, the directors were owed £169. The loans are interest free and repayable on demand. |
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9. | ULTIMATE CONTROLLING PARTY |
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The directors jointly are the ultimate controlling party. |