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REGISTERED NUMBER: 07032641 (England and Wales)















FINANCIAL STATEMENTS

FOR THE PERIOD 31 DECEMBER 2021 TO 31 DECEMBER 2022

FOR

LH PERSPECTIVES LIMITED

LH PERSPECTIVES LIMITED (REGISTERED NUMBER: 07032641)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 31 DECEMBER 2021 TO 31 DECEMBER 2022




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


LH PERSPECTIVES LIMITED

COMPANY INFORMATION
FOR THE PERIOD 31 DECEMBER 2021 TO 31 DECEMBER 2022







DIRECTORS: Mr R Melia
Mr D Summerfield



REGISTERED OFFICE: 3 Forbury Place
23 Forbury Road
Reading
RG1 3JH



REGISTERED NUMBER: 07032641 (England and Wales)



AUDITORS: Shaw Gibbs (Audit) Ltd
Chartered Certified Accountants
Statutory Auditor
264 Banbury Road
Oxford
OX2 7DY



ACCOUNTANTS: Farnell Clarke Limited
Evolution House
Delft Way
Norwich Airport
Norwich
Norfolk
NR6 6BB

LH PERSPECTIVES LIMITED (REGISTERED NUMBER: 07032641)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2022

2022 2021
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 19,657
Property, plant and equipment 5 - 88,565
- 108,222

CURRENT ASSETS
Debtors 6 2,659,472 2,244,742
Cash at bank 1,493,514 1,095,076
4,152,986 3,339,818
CREDITORS
Amounts falling due within one year 7 1,279,218 1,025,841
NET CURRENT ASSETS 2,873,768 2,313,977
TOTAL ASSETS LESS CURRENT LIABILITIES 2,873,768 2,422,199

PROVISIONS FOR LIABILITIES - 11,810
NET ASSETS 2,873,768 2,410,389

CAPITAL AND RESERVES
Called up share capital 8 100 100
Other reserves 35,563 77,086
Retained earnings 2,838,105 2,333,203
SHAREHOLDERS' FUNDS 2,873,768 2,410,389

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 April 2024 and were signed on its behalf by:





Mr R Melia - Director


LH PERSPECTIVES LIMITED (REGISTERED NUMBER: 07032641)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 31 DECEMBER 2021 TO 31 DECEMBER 2022

1. STATUTORY INFORMATION

LH Perspectives Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 statement of comprehensive income has been prepared on the basis that all operations are continuing operations.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover and long term contracts
Turnover from supply of services is recognised when the company obtains a right to consideration in exchange for its fulfilment of contractual obligations.

The company’s turnover is project driven and therefore turnover is recognised based on project percentage complete which is determined in line with the project milestones stipulated by the underlying customer contracts.

The company has a number of customer contracts that span two accounting periods.

The timing of customer billing results in project related accrued and deferred income. Billing customers in advance of certain milestones being met results in deferred income. Billing customers in arrears results in accrued income/work in progress.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

An impairment loss has been recognised in the Statement of Comprehensive Income, following an assessment at the Statement of Financial Position date indicating the recoverable amount was less than its carrying value.

Computer software is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on cost
Computer equipment - 33% on cost


LH PERSPECTIVES LIMITED (REGISTERED NUMBER: 07032641)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 31 DECEMBER 2021 TO 31 DECEMBER 2022

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.

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

Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the assets is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

LH PERSPECTIVES LIMITED (REGISTERED NUMBER: 07032641)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 31 DECEMBER 2021 TO 31 DECEMBER 2022

2. ACCOUNTING POLICIES - continued

Financial instruments
The company enters into basic financial instrument transactions that result in the recognition fo financial assets and liabilities such as accrued income, trade and other receivables, accruals and trade and other payables. Short term receivables are measured at transaction price, less any impairment. Short term payables are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Impairment of financial assets - Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit and loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets - Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Derecognition of financial liabilities - Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Equity instruments
An issue of shares is recognised in the financial statements as equity at the point when the company issues those instruments and the party receiving those shares is obliged to provide cash or other resources to the company in exchange for those shares.

Foreign exchange
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 43 (2021 - 30 ) .

LH PERSPECTIVES LIMITED (REGISTERED NUMBER: 07032641)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 31 DECEMBER 2021 TO 31 DECEMBER 2022

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 31 December 2021 21,946
Additions 7,347
At 31 December 2022 29,293
AMORTISATION
At 31 December 2021 2,289
Amortisation for period 7,904
Impairments 19,100
At 31 December 2022 29,293
NET BOOK VALUE
At 31 December 2022 -
At 30 December 2021 19,657

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 31 December 2021 18,231 48,289 57,192 123,712
Additions 6,269 - 15,287 21,556
Disposals - (48,289 ) - (48,289 )
At 31 December 2022 24,500 - 72,479 96,979
DEPRECIATION
At 31 December 2021 3,811 1,006 30,330 35,147
Charge for period 6,465 - 7,030 13,495
Eliminated on disposal - (1,006 ) - (1,006 )
Impairments 14,224 - 35,119 49,343
At 31 December 2022 24,500 - 72,479 96,979
NET BOOK VALUE
At 31 December 2022 - - - -
At 30 December 2021 14,420 47,283 26,862 88,565

LH PERSPECTIVES LIMITED (REGISTERED NUMBER: 07032641)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 31 DECEMBER 2021 TO 31 DECEMBER 2022

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
as restated
£    £   
Trade debtors 2,407,808 2,201,479
Amounts owed by group undertakings 178,548 -
Other debtors 72,604 42,992
Prepayments 512 271
2,659,472 2,244,742

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
as restated
£    £   
Trade creditors 367,495 398,252
Corporation tax 229,301 313,174
Spanish tax 118,483 9,312
Social security and other taxes - 52,716
VAT 148,397 130,592
Other creditors - 28,244
Directors' current accounts - 2,477
Accruals 298,785 -
Deferred income 116,757 91,074
1,279,218 1,025,841

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: as restated
£    £   
51 Ordinary B £1 51 51

Allotted and issued:
Number: Class: Nominal 2022 2021
value: as restated
£    £   
49 Share capital 1 £1 49 49

LH PERSPECTIVES LIMITED (REGISTERED NUMBER: 07032641)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 31 DECEMBER 2021 TO 31 DECEMBER 2022

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

The Report of the Auditors was qualified on the following basis:

Basis for qualified opinion
Based on the limited information that was made available to us regarding the deferred income balance of £91,074 (included in creditors due within one year) as at 30 December 2021, we were not able to satisfy ourselves by standard and/or alternative procedures that the relevant balance which is included in the comparative balance sheet and in this year’s opening profit and loss reserves is complete and correctly valued. Consequently we were unable to determine whether any adjustments to this amount were necessary or whether there were any consequential effects on the revenue for the years ended 30 December 2021 and 31 December 2022. We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion.

Malik Nayyer Salim (Senior Statutory Auditor)
for and on behalf of Shaw Gibbs (Audit) Ltd

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 31 December 2022 and the year ended 30 December 2021:

2022 2021
as restated
£    £   
Mr J L Waby
Balance outstanding at start of period (1,901 ) 190,968
Amounts advanced 1,901 4
Amounts repaid - (192,873 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period - (1,901 )

Mr K Howard
Balance outstanding at start of period (576 ) (264 )
Amounts advanced 576 -
Amounts repaid - (312 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period - (576 )

LH PERSPECTIVES LIMITED (REGISTERED NUMBER: 07032641)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 31 DECEMBER 2021 TO 31 DECEMBER 2022

11. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Section 33.1A 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.

12. ULTIMATE CONTROLLING PARTY

The company's immediate parent is IQVIA Ltd, a company incorporated in the United Kingdom.

The ultimate controlling party is IQVIA Holdings Inc., a company incorporated in the United States of America. The company acquired control from Mr J L Waby, who was the ultimate controlling party from 13th December 2019 to 3rd October 2022.

IQVIA Holdings Inc., registered at 4820 Emperor Blvd., Durham, North Carolina 27703, United States, is the smallest and largest group undertaking where consolidation is being prepared. The consolidated financial statements of IQVIA Holdings Inc. may be obtained from the company's website www.iqvia.com.