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Registered number: 09044563









INFUSIVE INSIGHT (UK) LTD









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022

 
INFUSIVE INSIGHT (UK) LTD
REGISTERED NUMBER: 09044563

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
12,260
7,904

  
12,260
7,904

Current assets
  

Debtors
  
90,867
28,924

Cash at bank and in hand
  
54,600
23,161

  
145,467
52,085

Creditors: amounts falling due within one year
  
(7,350,804)
(6,220,052)

Net current liabilities
  
 
 
(7,205,337)
 
 
(6,167,967)

Total assets less current liabilities
  
(7,193,077)
(6,160,063)

  

Net liabilities
  
(7,193,077)
(6,160,063)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(7,193,078)
(6,160,064)

  
(7,193,077)
(6,160,063)


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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Jack Dwyer
Director

Date: 15 April 2024

The notes on pages 2 to 6 form part of these financial statements.
Page 1

 
INFUSIVE INSIGHT (UK) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

1.


General information

Infusive Insight (UK) Limited is a private company, limited by shares, incorporated in the United Kingdom and registered in England and Wales. 
The Company's registered office address is Botanic House, 100 Hills Road, Cambridge, Cambridgeshire, CB2 1PH and its principal place of business is 3 St Michael’s Alley, London, EC3V 9DS. 
The principal activity of the Company during the year was that of the provision of business services to group entities.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.
Critical accounting judgments and key sources of estimation uncertainty
In the application of the group's accounting policies the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. 
Actual results may differ from these estimates. 
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. 
Information about assumptions and estimates uncertainties that have a significant risk or resulting in material adjustment within the next financial year are included below.
 Critical accounting estimates and assumptions
 In preparing these financial statements, the directors have had to make the following judgements: 
- Tangible fixed assets are depreciated over their useful lives taking into account residual values where appropriate. 
The following principal accounting policies have been applied:

Page 2

 
INFUSIVE INSIGHT (UK) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.2

Going concern

The Company made a loss for the year and at the reporting date has net current liabilities and net liabilities. The director has obtained assurance from the ultimate parent company that it has the ability and will to provide finance to the Company as and when required so it can meet its financial obligations for at least 12 months from the approval of the financial statements. On this assumption the director considers that adopting the going concern basis is appropriate.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 

 
2.5

Operating leases

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
INFUSIVE INSIGHT (UK) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
Straight line over 2 years
Fixtures and fittings
-
Straight line over 2 years
Office equipment
-
Straight line over 4 years
Computer equipment
-
Straight line over 3 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Financial instruments

The Company does not trade in financial instruments and all such instruments arise directly from operations. All trade and other debtors are initially recognised at transaction value, as none contain in substance a financing transaction. Thereafter trade and other debtors are reviewed for impairment where there is objective evidence based on observable data that the balance may be impaired. The Company does not hold collateral against its trade and other receivables so its exposure to credit risk is the net balance of trade and other debtors after allowance for impairment. The Company’s cash holdings comprise on demand balances. All cash is held with banks with strong external credit ratings. Trade and other creditors and accruals are initially recognised at transaction value as none represent a financing transaction. They are only derecognised when they are extinguished. As the Company only has short term receivables and payables, its net current asset position is a reasonable measure of its liquidity at any given time.

Page 4

 
INFUSIVE INSIGHT (UK) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

3.


Employees

2022
2021
£
£

Wages and salaries
634,016
279,236

Social security costs
80,719
29,105

Cost of defined contribution scheme
24,306
12,048

739,041
320,389


The average monthly number of employees, including directors, during the year was 7 (2021 - 5).


4.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Office equipment
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 January 2022
8,865
26,250
31,414
3,681
70,210


Additions
-
-
-
12,436
12,436


Disposals
(8,865)
(26,250)
(18,926)
-
(54,041)



At 31 December 2022

-
-
12,488
16,117
28,605



Depreciation


At 1 January 2022
8,865
26,250
26,693
498
62,306


Charge for the year on owned assets
-
-
4,721
3,359
8,080


Disposals
(8,865)
(26,250)
(18,926)
-
(54,041)



At 31 December 2022

-
-
12,488
3,857
16,345



Net book value



At 31 December 2022
-
-
-
12,260
12,260



At 31 December 2021
-
-
4,721
3,183
7,904


5.


Share capital

2022
2021
£
£
Allotted, called up and fully paid
Page 5

 
INFUSIVE INSIGHT (UK) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

5.Share capital (continued)




 Ordinary shares of £1 each
1
1



6.


Commitments under operating leases

At 31 December 2022 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2022
2021
£
£


Not later than 1 year
170,000
-

Later than 1 year and not later than 5 years
85,000
-

255,000
-


7.


Related party transactions

The Company has taken advantage of the exemption contained in FRS 102 section 33 "Related Party Disclosures" from disclosing transactions with entities which are a wholly owned part of the group.


8.


Controlling party

The parent undertaking for which consolidated financial statements are drawn up is headed by Infusive plc whose registered office is Botanic House, 100 Hills Road, Cambridge, Cambridgeshire, CB2 1PH. Subsequent to the year end, Infusive Insight (UK) Ltd was acquired by Gyde Equities Limited.

9.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2022 was unqualified.

The audit report was signed on 15 April 2024 by Philippa Duckworth BSc and FCCA (Senior Statutory Auditor) on behalf of WP Audit Ltd.

 
Page 6