Clinical Innovations Europe Limited Filleted accounts for Companies House (small and micro)
Clinical Innovations Europe Limited Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
08849265
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FINANCIAL STATEMENTS |
Year ended 31 March 2023
CONTENTS |
PAGE |
Balance sheet |
1 |
Notes to the financial statements |
2 |
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BALANCE SHEET |
2023 |
2022 |
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Note |
$ |
$ |
FIXED ASSETS
Investments |
5 |
– |
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CURRENT ASSETS
Stocks |
– |
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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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NET ASSETS |
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CAPITAL AND RESERVES
Called up share capital |
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Other reserves |
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Profit and loss account |
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SHAREHOLDERS FUNDS |
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In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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These financial statements were approved by the
board of directors
and authorised for issue on
26 March 2024
, and are signed on behalf of the board by:
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Director |
Company registration number:
08849265
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NOTES TO THE FINANCIAL STATEMENTS |
Year ended 31 March 2023
1.
GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 7 The I.O. Centre, Jugglers Close, Banbury, OX16 3TA.
2.
STATEMENT OF COMPLIANCE
3.
ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in US dollars, which is the functional currency of the entity.
Going concern
Turnover
Taxation
Foreign currencies
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Stocks
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 the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Share-based payments
4.
EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to Nil
(2022:
8
).
5.
INVESTMENTS
Shares in group undertakings |
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$ |
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Cost |
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At 1 April 2022 |
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Disposals |
(
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At 31 March 2023 |
– |
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Impairment |
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At 1 April 2022 and 31 March 2023 |
– |
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Carrying amount |
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At 31 March 2023 |
– |
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At 31 March 2022 |
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6.
DEBTORS
2023 |
2022 |
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$ |
$ |
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Trade debtors |
– |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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7.
CREDITORS:
amounts falling due within one year
2023 |
2022 |
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$ |
$ |
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Trade creditors |
– |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
– |
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Corporation tax |
– |
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Social security and other taxes |
– |
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Other creditors |
– |
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8.
RELATED PARTY TRANSACTIONS
The company has taken advantage of the 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.
9.
CONTROLLING PARTY
At the balance sheet date the immediate parent undertaking was Clinical Innovations LLC, registered in USA. The ultimate controlling party was Laborie Medical Technologies Corp., registered in USA.