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REGISTERED NUMBER: 06076464 (England and Wales)










INTERFACE CLINICAL SERVICES LTD

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2021






INTERFACE CLINICAL SERVICES LTD (REGISTERED NUMBER: 06076464)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2021










Page

Balance Sheet 1

Notes to the Financial Statements 2 to 5


INTERFACE CLINICAL SERVICES LTD (REGISTERED NUMBER: 06076464)

BALANCE SHEET
31ST DECEMBER 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 101,620 121,107

CURRENT ASSETS
Debtors 5 3,822,155 2,105,047
Cash at bank and in hand 8,246,755 2,193,389
12,068,910 4,298,436
CREDITORS
Amounts falling due within one year 6 7,587,562 1,701,062
NET CURRENT ASSETS 4,481,348 2,597,374
TOTAL ASSETS LESS CURRENT LIABILITIES 4,582,968 2,718,481

PROVISIONS FOR LIABILITIES 8 12,401 9,729
NET ASSETS 4,570,567 2,708,752

CAPITAL AND RESERVES
Called up share capital 9 1,045 1,045
Share premium 30,915 30,915
Retained earnings 4,538,607 2,676,792
SHAREHOLDERS' FUNDS 4,570,567 2,708,752

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7th September 2022 and were signed on its behalf by:





I Mecci - Director


INTERFACE CLINICAL SERVICES LTD (REGISTERED NUMBER: 06076464)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2021


1. STATUTORY INFORMATION

Interface Clinical Services Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 06076464

Registered office: 3 Forbury Place
23 Forbury Road
Reading
RG1 3JH

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared on a going concern basis. In making this assessment the directors have reviewed all available information and concluded the activities of the company will will be in operational existence for at least 12 months from the date of approval of the financial statements.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

Turnover
Turnover is measured at the fair value of the consideration received or receivable excluding value added tax. Turnover is recognised at the point entitlement to revenue arises. This is either as services are delivered to customers or on completion of performance obligations.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation. Costs includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:
Tenant improvements20% on cost
Office equipment33% on cost
Fixtures and fittings20% on cost

Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accruals model.

Taxation
Taxation for the year comprises current and deferred 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.

Current or deferred taxation assets and liabilities are not discounted.

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 balance sheet date.


INTERFACE CLINICAL SERVICES LTD (REGISTERED NUMBER: 06076464)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2021


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

Debtors and creditors receivable/ payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

Leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 137 (2020 - 120 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st January 2021 110,143 506,539 616,682
Additions 1,390 50,343 51,733
At 31st December 2021 111,533 556,882 668,415
DEPRECIATION
At 1st January 2021 87,305 408,270 495,575
Charge for year 14,924 56,296 71,220
At 31st December 2021 102,229 464,566 566,795
NET BOOK VALUE
At 31st December 2021 9,304 92,316 101,620
At 31st December 2020 22,838 98,269 121,107

INTERFACE CLINICAL SERVICES LTD (REGISTERED NUMBER: 06076464)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2021


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 3,679,096 1,993,667
Other debtors 8,263 8,763
Corporation tax receivable 84,531 13,829
Prepayments and accrued income 50,265 88,788
3,822,155 2,105,047

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade creditors 57,274 21,648
Amounts owed to group undertakings 4,363,917 -
Amounts owed to related undertakings 340 241
Taxation and social security 848,439 902,601
Other creditors 2,317,592 776,572
7,587,562 1,701,062

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2021 2020
£    £   
Within one year 83,540 83,540
Between one and five years 339,250 422,420
422,790 505,960

8. PROVISIONS FOR LIABILITIES
2021 2020
£    £   
Deferred tax 12,401 9,729

Deferred
tax
£   
Balance at 1st January 2021 9,729
Movement in year 2,672
Balance at 31st December 2021 12,401

9. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2021 2020
value: £    £   
1,045 Ordinary £1 1,045 1,045

INTERFACE CLINICAL SERVICES LTD (REGISTERED NUMBER: 06076464)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2021


10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Christopher Darwin FCA (Senior Statutory Auditor)
for and on behalf of Thomas Coombs Limited

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Directors' remuneration for the year was £nil (2020: £258,548).

12. ULTIMATE CONTROLLING PARTY

The Company's immediate parent undertaking is IQVIA Limited (Registered office 3 Forbury Road, Reading, United Kingdom, RG1 3JH).

The ultimate parent undertaking and controlling party is IQVIA Holdings Inc., a company incorporated in the United States of America.

IQVIA Holdings Inc. is the parent undertaking of the smallest and largest group of undertakings to consolidate these financial statements at 31st December 2021. The consolidated financial statements of IQVIA Holdings Inc. may be obtained from the company's website www.iqvia.com