Health Intelligence Ltd - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 03257228 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 October 2015

for

Health Intelligence Ltd

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

3

FIXED ASSETS

Intangible assets

2

949,134

945,051

Tangible assets

3

464,533

440,284

1,413,667

1,385,335

CURRENT ASSETS

Debtors

242,083

168,673

Cash at bank and in hand

738,589

675,549

980,672

844,222

CREDITORS

Amounts falling due within one year

4

1,414,727

1,268,824

NET CURRENT LIABILITIES

(434,055

)

(424,602

)

TOTAL ASSETS LESS CURRENT LIABILITIES

979,612

960,733

CREDITORS

Amounts falling due after more than one year

4

(157,058

)

(217,727

)

PROVISIONS FOR LIABILITIES

(19,564

)

(9,431

)

PENSION LIABILITY

(87,000

)

(59,000

)

NET ASSETS

715,990

674,575

CAPITAL AND RESERVES

Called up share capital

5

2,881

2,881

Capital redemption reserve

120

120

Profit and loss account

712,989

671,574

SHAREHOLDERS' FUNDS

715,990

674,575

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2015 in accordance with Section 476 of the Companies Act 2006.

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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 15 March 2016 and were signed on its behalf by:

P Kirby - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

In accordance with UITF40, revenue is recognised as the company becomes entitled to consideration for the

services supplied. Therefore, turnover also includes the element of work completed but not yet invoiced.

Revenue in respect of services to customers over a period spanning the year end is accrued over that period.

Patents and licences

Expenditure in respect of a licence for the company's website is capitalised at cost and amortised evenly over

its useful life of 4 years on a straight line basis.

Intellectual property

Intellectual property consists of image compression and optimisation software and is being amortised evenly

over its useful life of 10 years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2 % on cost

Improvements to property

-

Straight line over 3 years

Plant and machinery

-

Straight line over 6 years

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on reducing balance

Deferred tax

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

balance sheet date.

Research and development

Development costs are capitalised where the following conditions apply:

- There is a clearly defined project.

- The related expenditure is separately identifiable.

- The outcome of the project has been assessed with reasonable certainty as to its technical feasibility and its

ultimate commercial viability.

- Total research and development costs on the project are expected to be exceeded by related future

revenues.

- Adequate resources are reasonably expected to be available to enable the project to be completed.

Capitalised development costs are included as "Development costs" under Intangible Fixed Assets.

Development Costs are amortised commencing with the commercial application of the related project and are

allocated on a systematic basis to each accounting period by reference to the expected useful economic life of

the project. The rate used is 10% per annum.

Other research and development costs are written off to the profit and loss account in the year in which they

are incurred, regardless of whether they satisfy the above conditions or not.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

Defined benefit pension scheme

The company operates a defined benefit pension scheme. Scheme assets are measured at fair values. Scheme

liabilities are measured on an actuarial basis using the projected unit method and discounted at appropriate

high quality corporate bond rates.

The scheme surplus/deficit is the excess/shortfall of the value of the assets in the scheme over/below the

present value of the scheme liabilities. The net surplus or deficit, adjusted for deferred tax, is presented

separately from other assets or liabilities on the balance sheet. A net surplus is recognised only to the extent

that it is recoverable by the company; a net deficit is recognised to the extent that it reflects a legal or

constructive obligation on the part of the company.

The components of the change in the defined benefit liability (other than those arising from contributions to

the scheme) are presented in the financial statements as follows:

1. The current service costs are charged against operating profit.

2. The net of the interest cost and the expected return on assets are included as finance costs.

3. Actuarial gains and losses are recognised in the statement of total recognised gains and losses.

Defined contribution pension scheme

The company also operates separate defined contribution pension schemes: a staff scheme and an executive

scheme. Contributions payable to these pension schemes are charged to the profit and loss account in the

period to which they relate.

Grant income

Revenue-based grant income is recognised in the Profit and Loss Account within Other operating income

evenly over the life of the grant, to offset related revenue expenditure in the accounting period in which the

related expenditure is incurred. Deferred grant income is carried forward in Other Creditors and is written off

evenly over the life of the grant. The life of the grant is 36 months.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2014

1,305,719

Additions

116,016

At 31 October 2015

1,421,735

AMORTISATION

At 1 November 2014

360,668

Amortisation for year

111,933

At 31 October 2015

472,601

NET BOOK VALUE

At 31 October 2015

949,134

At 31 October 2014

945,051

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2014

860,083

Additions

103,716

At 31 October 2015

963,799

DEPRECIATION

At 1 November 2014

419,799

Charge for year

79,467

At 31 October 2015

499,266

NET BOOK VALUE

At 31 October 2015

464,533

At 31 October 2014

440,284

4.

CREDITORS

Creditors include an amount of £ 207,195 (31.10.14 - £ 254,807 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.15

31.10.14

value:

£

£

1,000

A ordinary

£1

880

880

1,000

B ordinary

£1

1,000

1,000

1,000

C ordinary

£1

1,000

1,000

1

D ordinary

£1

1

1

2,881

2,881

120 of the shares held within 'A Ordinary' share remain unpaid at 31st October 2015