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Company Registration No. 11206357 (England and Wales)
iResearch Services Limited Unaudited accounts for the year ended 31 March 2023
iResearch Services Limited Unaudited accounts Contents
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iResearch Services Limited Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
4,222 
5,283 
Tangible assets
46,329 
50,407 
50,551 
55,690 
Current assets
Debtors
601,076 
475,422 
Cash at bank and in hand
563,878 
469,162 
1,164,954 
944,584 
Creditors: amounts falling due within one year
(405,367)
(219,325)
Net current assets
759,587 
725,259 
Total assets less current liabilities
810,138 
780,949 
Creditors: amounts falling due after more than one year
(207,384)
(315,363)
Net assets
602,754 
465,586 
Capital and reserves
Called up share capital
100 
100 
Capital contribution reserve
122,516 
14,536 
Profit and loss account
480,138 
450,950 
Shareholders' funds
602,754 
465,586 
For the year ending 31 March 2023 the company was entitled to exemption from audit 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 and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 8 September 2023 and were signed on its behalf by
Y Shah Director Company Registration No. 11206357
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iResearch Services Limited Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
iResearch Services Limited is a private company, limited by shares, registered in England and Wales, registration number 11206357. The registered office is North West House, 119 Marylebone Road, London, NW1 5PU, England.
2
Compliance with accounting standards
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "TheFinancialReporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Presentation currency
The functional and presentational currency of the company is £ and amounts are rounded to the nearest £.
Related party exemption
The company has taken advantage of 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The company provides market research and public opinion polling. Revenue is recognised in the accounting period in which the services are rendered when the outcome of contract can be estimated reliably. The company uses the percentage of completion method on the actual services performed as a percentage of the total services to be provided.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% on cost
Intangible fixed assets
Intangible fixed assets are originally measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Computer software is being amortised evenly over the estimated useful life of ten years.
Government grants
Government grants in relation to expenditure are credited when the expenditure is charged to profit and loss.
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iResearch Services Limited Notes to the Accounts for the year ended 31 March 2023
Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial assets are derecognised when the contractual rights to the cash flow expire or when substantially all the risks and rewards have been transferred. Financial liabilities are derecognised when then contractual obligations to make payments have expired.
Taxation
Taxation for the year comprises current tax. Tax is recognised in the Profit and loss account, 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.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Leasing commitments
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
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iResearch Services Limited Notes to the Accounts for the year ended 31 March 2023
4
Intangible fixed assets
Other 
£ 
Cost
At 1 April 2022
7,074 
At 31 March 2023
7,074 
Amortisation
At 1 April 2022
1,791 
Charge for the year
1,061 
At 31 March 2023
2,852 
Net book value
At 31 March 2023
4,222 
At 31 March 2022
5,283 
5
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 April 2022
72,911 
262 
26,026 
99,199 
Additions
- 
- 
12,217 
12,217 
At 31 March 2023
72,911 
262 
38,243 
111,416 
Depreciation
At 1 April 2022
43,597 
48 
5,147 
48,792 
Charge for the year
10,937 
39 
5,319 
16,295 
At 31 March 2023
54,534 
87 
10,466 
65,087 
Net book value
At 31 March 2023
18,377 
175 
27,777 
46,329 
At 31 March 2022
29,314 
214 
20,879 
50,407 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
581,192 
464,922 
Accrued income and prepayments
9,384 
- 
Other debtors
10,500 
10,500 
601,076 
475,422 
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iResearch Services Limited Notes to the Accounts for the year ended 31 March 2023
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
49,992 
8,424 
Trade creditors
157,432 
19,106 
Taxes and social security
63,966 
98,384 
Other creditors
116,033 
90,331 
Loans from directors
16,364 
- 
Accruals
1,580 
3,080 
405,367 
219,325 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Amounts owed to group undertakings and other participating interests
207,384 
315,363 
In the year, interest free and unsecured loans from the parent company which were repayable by 14 February 2023 were renewed on the same terms with a revised repayment date of 13 February 2028.
9
Capital contribution reserve
This represents capital contributions from the parent company, interest free loans, and is non-distributable.
10
Operating lease commitments
2023 
2022 
£ 
£ 
At 31 March 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
64,506 
31,020 
Later than one year and not later than five years
42,704 
- 
107,210 
31,020 
11
Controlling party
The company is a wholly owned subsidiary of iResearch Services Private Limited, its ultimate parent and whose registered office is registered office B3, Level 4, Cerebrum IT Park 2A, Pune, India 411006. The accounts are publicly available and can be obtained from its registered office.
12
Average number of employees
During the year the average number of employees was 20 (2022: 13).
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