Abbreviated Company Accounts - SANA HEALTH UK LIMITED

Abbreviated Company Accounts - SANA HEALTH UK LIMITED


Registered Number 09928156

SANA HEALTH UK LIMITED

Abbreviated Accounts

31 August 2016

SANA HEALTH UK LIMITED Registered Number 09928156

Abbreviated Balance Sheet as at 31 August 2016

Notes 2016
£
Fixed assets
Intangible assets 2 3,281,856
3,281,856
Current assets
Cash at bank and in hand 124,415
124,415
Creditors: amounts falling due within one year (386,624)
Net current assets (liabilities) (262,209)
Total assets less current liabilities 3,019,647
Total net assets (liabilities) 3,019,647
Capital and reserves
Called up share capital 3 3,600,000
Profit and loss account (580,353)
Shareholders' funds 3,019,647
  • For the year ending 31 August 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 2 March 2017

And signed on their behalf by:
Richard Hanbury, Director

SANA HEALTH UK LIMITED Registered Number 09928156

Notes to the Abbreviated Accounts for the period ended 31 August 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Intangible assets amortisation policy
Goodwill
Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.
Amortisation is not to be provided on goodwill until the final prototype is finished in production and launched.

Other accounting policies
Research and development
The company is undertaking research and has produced a prototype for a wearable device to aid sleep. Research and development is written off as incurred.

Foreign currency
Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. At the balance sheet date, monetary items denominated in foreign currencies are translated at the rate prevailing at the balance sheet date. All exchange rate differences are included in the profit and loss account.

2Intangible fixed assets
£
Cost
Additions 3,281,856
Disposals -
Revaluations -
Transfers -
At 31 August 2016 3,281,856
Amortisation
Charge for the year 0
On disposals -
At 31 August 2016 0
Net book values
At 31 August 2016 3,281,856
3Called Up Share Capital
Allotted, called up and fully paid:
2016
£
3,600,000Ordinary shares of £1 each 3,600,000