2 false false false false false false false false false true false false false false false false No description of principal activity 2022-12-01 Sage Accounts Production Advanced 2021 - FRS102_2021 330,000 330,000 330,000 108,676 28,903 27,160 482 109,937 109,937 108,676 xbrli:pure xbrli:shares iso4217:GBP 05629721 2022-12-01 2023-11-30 05629721 2023-11-30 05629721 2021-12-01 2022-11-30 05629721 2022-11-30 05629721 bus:Director1 2022-12-01 2023-11-30 05629721 core:WithinOneYear 2023-11-30 05629721 core:WithinOneYear 2022-11-30 05629721 core:ShareCapital 2023-11-30 05629721 core:ShareCapital 2022-11-30 05629721 core:OtherReservesSubtotal 2023-11-30 05629721 core:OtherReservesSubtotal 2022-11-30 05629721 core:RetainedEarningsAccumulatedLosses 2023-11-30 05629721 core:RetainedEarningsAccumulatedLosses 2022-11-30 05629721 core:CostValuation core:Non-currentFinancialInstruments 2022-11-30 05629721 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2023-11-30 05629721 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2023-11-30 05629721 core:Non-currentFinancialInstruments core:RevaluationsIncreaseDecreaseInInvestments 2023-11-30 05629721 core:CostValuation core:Non-currentFinancialInstruments 2023-11-30 05629721 core:Non-currentFinancialInstruments 2023-11-30 05629721 core:Non-currentFinancialInstruments 2022-11-30 05629721 core:LandBuildings core:OwnedOrFreeholdAssets 2023-11-30 05629721 core:LandBuildings core:OwnedOrFreeholdAssets 2022-11-30 05629721 bus:SmallEntities 2022-12-01 2023-11-30 05629721 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 05629721 bus:FullAccounts 2022-12-01 2023-11-30 05629721 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 05629721 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 05629721 core:ComputerEquipment 2022-12-01 2023-11-30
COMPANY REGISTRATION NUMBER: 05629721
PHARMA INSIGHT LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 November 2023
PHARMA INSIGHT LTD
STATEMENT OF FINANCIAL POSITION
30 November 2023
2023
2022
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
330,000
330,000
Investments
6
109,937
108,676
---------
---------
439,937
438,676
CURRENT ASSETS
Debtors
7
3,594
Cash at bank and in hand
46,207
34,633
--------
--------
46,207
38,227
CREDITORS: amounts falling due within one year
8
5,943
2,866
--------
--------
NET CURRENT ASSETS
40,264
35,361
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
480,201
474,037
PROVISIONS
3,164
2,295
---------
---------
NET ASSETS
477,037
471,742
---------
---------
CAPITAL AND RESERVES
Called up share capital fully paid
10
10
Revaluation reserve
34,815
35,105
Profit and loss account
442,212
436,627
---------
---------
SHAREHOLDERS FUNDS
477,037
471,742
---------
---------
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 comprehensive income has not been delivered.
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
PHARMA INSIGHT LTD
STATEMENT OF FINANCIAL POSITION (continued)
30 November 2023
These financial statements were approved by the board of directors and authorised for issue on 27 March 2024 , and are signed on behalf of the board by:
Mr D I Pass
Director
Company registration number: 05629721
PHARMA INSIGHT LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 NOVEMBER 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Mill Road Farm,, Mill Road, Little Wilbraham, Cambridgeshire, CB21 5LG.
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.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
The turnover shown in the profit and loss account represents amounts receivable during the year, exclusive of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
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.
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:
Computer Equipment
-
33 1/3% straight line basis
Investments
Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
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.
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.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. TANGIBLE ASSETS
Freehold investment property
£
Cost
At 1 December 2022 and 30 November 2023
330,000
---------
Depreciation
At 1 December 2022 and 30 November 2023
---------
Carrying amount
At 30 November 2023
330,000
---------
At 30 November 2022
330,000
---------
6. INVESTMENTS
Other investments other than loans
£
Valuation
At 1 December 2022
108,676
Additions
28,903
Disposals
( 27,160)
Revaluations
( 482)
---------
At 30 November 2023
109,937
---------
Impairment
At 1 December 2022 and 30 November 2023
---------
Carrying amount
At 30 November 2023
109,937
---------
At 30 November 2022
108,676
---------
7. DEBTORS
2023
2022
£
£
Other debtors
3,594
----
-------
8. CREDITORS: amounts falling due within one year
2023
2022
£
£
Corporation tax
2,412
Other creditors
3,531
2,866
-------
-------
5,943
2,866
-------
-------
9. RELATED PARTY TRANSACTIONS
A director has advanced monies to the company. At 30 November 2023 the amount due from the company was £ 253 (2022 - £ 314 ). The loan is unsecured and interest free.