3
false
false
false
false
false
false
false
false
false
true
false
false
false
false
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No description of principal activity
2022-04-01
Sage Accounts Production Advanced 2021 - FRS102_2021
22,315
1,563
23,878
15,688
2,048
17,736
6,142
6,627
xbrli:pure
xbrli:shares
iso4217:GBP
SC422204
2022-04-01
2023-03-31
SC422204
2023-03-31
SC422204
2022-03-31
SC422204
2021-04-01
2022-03-31
SC422204
2022-03-31
SC422204
bus:Director1
2022-04-01
2023-03-31
SC422204
core:WithinOneYear
2023-03-31
SC422204
core:WithinOneYear
2022-03-31
SC422204
core:ShareCapital
2023-03-31
SC422204
core:ShareCapital
2022-03-31
SC422204
core:RetainedEarningsAccumulatedLosses
2023-03-31
SC422204
core:RetainedEarningsAccumulatedLosses
2022-03-31
SC422204
bus:SmallEntities
2022-04-01
2023-03-31
SC422204
bus:AuditExemptWithAccountantsReport
2022-04-01
2023-03-31
SC422204
bus:FullAccounts
2022-04-01
2023-03-31
SC422204
bus:SmallCompaniesRegimeForAccounts
2022-04-01
2023-03-31
SC422204
bus:PrivateLimitedCompanyLtd
2022-04-01
2023-03-31
SC422204
core:ParentEntities
2022-04-01
2023-03-31
SC422204
core:ParentEntities
2021-04-01
2022-03-31
SC422204
core:OfficeEquipment
2022-04-01
2023-03-31
SC422204
core:OfficeEquipment
2022-03-31
SC422204
core:OfficeEquipment
2023-03-31
SC422204
core:ParentEntities
2022-03-31
COMPANY REGISTRATION NUMBER:
SC422204
Filleted Unaudited Financial Statements |
|
Statement of Financial Position |
|
31 March 2023
Fixed assets
Tangible assets |
5 |
6,142 |
6,627 |
|
|
|
|
Current assets
Debtors |
6 |
91,324 |
83,365 |
Cash at bank and in hand |
710,683 |
772,205 |
|
--------- |
--------- |
|
802,007 |
855,570 |
|
|
|
|
Creditors: amounts falling due within one year |
7 |
91,176 |
399,275 |
|
--------- |
--------- |
Net current assets |
710,831 |
456,295 |
|
--------- |
--------- |
Total assets less current liabilities |
716,973 |
462,922 |
|
|
|
|
Provisions
Taxation including deferred tax |
1,167 |
1,259 |
|
--------- |
--------- |
Net assets |
715,806 |
461,663 |
|
--------- |
--------- |
|
|
|
Capital and reserves
Called up share capital |
100 |
100 |
Profit and loss account |
715,706 |
461,563 |
|
--------- |
--------- |
Shareholder funds |
715,806 |
461,663 |
|
--------- |
--------- |
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.
Director's responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Statement of Financial Position (continued) |
|
31 March 2023
These financial statements were approved by the
board of directors
and authorised for issue on
10 October 2023
, and are signed on behalf of the board by:
Company registration number:
SC422204
Notes to the Financial Statements |
|
Year ended 31 March 2023
1.
General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 33 Kittoch Street, East Kilbride, Glasgow, G74 4JW.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
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 sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Equipment |
- |
25% reducing balance |
|
|
|
|
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. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
3
(2022:
5
).
5.
Tangible assets
|
Equipment |
Total |
|
£ |
£ |
Cost |
|
|
At 1 April 2022 |
22,315 |
22,315 |
Additions |
1,563 |
1,563 |
|
-------- |
-------- |
At 31 March 2023 |
23,878 |
23,878 |
|
-------- |
-------- |
Depreciation |
|
|
At 1 April 2022 |
15,688 |
15,688 |
Charge for the year |
2,048 |
2,048 |
|
-------- |
-------- |
At 31 March 2023 |
17,736 |
17,736 |
|
-------- |
-------- |
Carrying amount |
|
|
At 31 March 2023 |
6,142 |
6,142 |
|
-------- |
-------- |
At 31 March 2022 |
6,627 |
6,627 |
|
-------- |
-------- |
|
|
|
6.
Debtors
|
2023 |
2022 |
|
£ |
£ |
Trade debtors |
90,019 |
81,624 |
Other debtors |
1,305 |
1,741 |
|
-------- |
-------- |
|
91,324 |
83,365 |
|
-------- |
-------- |
|
|
|
7.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
– |
300,001 |
Corporation tax |
71,166 |
94,025 |
Social security and other taxes |
2,308 |
2,193 |
Other creditors |
17,702 |
3,056 |
|
-------- |
--------- |
|
91,176 |
399,275 |
|
-------- |
--------- |
|
|
|
8.
Related party transactions
During the year the company entered into the following transactions with related parties:
|
Transaction value |
Balance owed by/(owed to) |
|
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
KJW Clinical Research Limited |
107,000 |
428,000 |
– |
(
300,000) |
|
--------- |
--------- |
---- |
--------- |
|
|
|
|
|
During the year the company received management services amounting to £61,000 (2022: £65,000) from KJW Clinical Research Limited, the companys' parent undertaking. The company declared dividends totalling £46,000 (2022: £363,000) to KJW Clinical Research Limited, the companys' parent undertaking.
9.
Controlling party
The company's ultimate parent undertaking at the statement of financial position date was
KJW Clinical Research Limited
, a company incorporated in Scotland.