ACCOUNTS - Final Accounts preparation

SAPPHIRE CLINICS (LONDON) LIMITED - Company Information

Caseware UK (AP4) 2021.0.152 2021.0.152 2021-01-01false8No description of principal activity8falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11934279 2021-01-01 2021-12-31 11934279 2020-05-01 2020-12-31 11934279 2021-12-31 11934279 2020-12-31 11934279 c:Director7 2021-01-01 2021-12-31 11934279 c:Director9 2021-01-01 2021-12-31 11934279 c:Director9 2021-12-31 11934279 c:RegisteredOffice 2021-01-01 2021-12-31 11934279 c:Agent1 2021-01-01 2021-12-31 11934279 d:CurrentFinancialInstruments 2021-12-31 11934279 d:CurrentFinancialInstruments 2020-12-31 11934279 d:Non-currentFinancialInstruments 2021-12-31 11934279 d:Non-currentFinancialInstruments 2020-12-31 11934279 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 11934279 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 11934279 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 11934279 d:Non-currentFinancialInstruments d:AfterOneYear 2020-12-31 11934279 d:ShareCapital 2021-12-31 11934279 d:ShareCapital 2020-12-31 11934279 d:RetainedEarningsAccumulatedLosses 2021-12-31 11934279 d:RetainedEarningsAccumulatedLosses 2020-12-31 11934279 c:OrdinaryShareClass1 2021-01-01 2021-12-31 11934279 c:OrdinaryShareClass1 2021-12-31 11934279 c:OrdinaryShareClass1 2020-12-31 11934279 c:OrdinaryShareClass2 2021-01-01 2021-12-31 11934279 c:OrdinaryShareClass2 2021-12-31 11934279 c:OrdinaryShareClass2 2020-12-31 11934279 c:FRS102 2021-01-01 2021-12-31 11934279 c:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 11934279 c:AbridgedAccounts 2021-01-01 2021-12-31 11934279 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 11934279

SAPPHIRE CLINICS (LONDON) LTD

Unaudited

Financial statements

Information for filing with the registrar

For the year ended 31 December 2021

SAPPHIRE CLINICS (LONDON) LTD

Company Information

Directors	Dr Mikael Hans Sodergren
	Aran Singh Samra (appointed 29 April 2022)


Registered number	11934279


Registered office	Hill Dickinson LLP
	The Broadgate Tower
	20 Primrose Street
	London
	EC2A 2EW


Solicitors	Hill Dickinson LLP
	The Broadgate Tower
	20 Primrose Street
	London
	EC2A 2EW

SAPPHIRE CLINICS (LONDON) LTD

Registered number: 11934279

Balance sheet

As at 31 December 2021

		2021		2020
Note		£		£


Current assets
Debtors	4	2,200		2,511
Cash at bank and in hand		27,711		23,399
		29,911		25,910
Creditors: amounts falling due within one year	5	(149,968)		(81,699)
Net current liabilities			(120,057)		(55,789)
Total assets less current liabilities			(120,057)		(55,789)
Creditors: amounts falling due after more than one year	6		(89,832)		(32,903)
Net liabilities			(209,889)		(88,692)

Capital and reserves
Called up share capital	7	700	700
Profit and loss account		(210,589)	(89,392)
		(209,889)	(88,692)

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SAPPHIRE CLINICS (LONDON) LTD

Registered number: 11934279

Balance sheet (continued)

As at 31 December 2021

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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:

Aran Singh Samra

Director

Date: 29 September 2022

The notes on pages 3 to 5 form part of these financial statements.

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SAPPHIRE CLINICS (LONDON) LTD

Notes to the financial statements

For the year ended 31 December 2021

1.	General information

Sapphire Clinics (London) Limited is a private company limited by shares incorporated in England within the United Kingdom. The registered office is given in the company information page of these financial statements.
The financial statements are presented in sterling which is the functional currency of the company.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

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.

2.3

Finance costs

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.

2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.5

Debtors

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.

2.6

Cash and cash equivalents

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.

2.7

Creditors

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.

2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and

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SAPPHIRE CLINICS (LONDON) LTD

Notes to the financial statements

For the year ended 31 December 2021

2.Accounting policies (continued)

2.8

Financial instruments (continued)

liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Employees

The average monthly number of employees during the year was 0 (2020 - 0).

Debtors

					2021	2020
					£	£


Trade debtors	-	150
Called up share capital not paid	700	700
Prepayments and accrued income	1,500	1,661
	2,200	2,511

5.	Creditors: Amounts falling due within one year
		2021	2020
		£	£

Trade creditors	14,312	46,457
Other taxation and social security	4,549	-
Other creditors	1,129	-
Accruals and deferred income	129,978	35,242
	149,968	81,699

6.	Creditors: Amounts falling due after more than one year
		2021	2020
		£	£

Other loans	-	32,903
Amounts owed to group undertakings	89,832	-
	89,832	32,903

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SAPPHIRE CLINICS (LONDON) LTD

Notes to the financial statements

For the year ended 31 December 2021

7.	Share capital
		2021	2020
		£	£

Allotted, called up and fully paid

70,000 (2020 -70,000) A ordinary shares of £0.01 each	700.00	700.00
1 (2020 -1) B ordinary share of £0.01	0.01	0.01

	700.01	700.01

8.	Controlling party

On the 26 February 2021 the entire issued share capital of the company was acquired by Sapphire Medical Clinics Limited, a company incorporated in the UK, who then became the controlling party.
On the 28 January 2022 the entire issued share capital of Sapphire Medical Clinics Limited was acquired by Curaleaf International Limited a subsidiary of Curaleaf Holdings INC, a company incorporated in the US, who then became the ultimate controlling party.

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