Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31false63truetrue2023-01-01political intelligence monitoring, research and consultingservices in the UK and EU94 07796206 2023-01-01 2023-12-31 07796206 2022-01-01 2022-12-31 07796206 2023-12-31 07796206 2022-12-31 07796206 2022-01-01 07796206 2 2022-01-01 2022-12-31 07796206 d:CompanySecretary1 2023-01-01 2023-12-31 07796206 d:Director5 2023-01-01 2023-12-31 07796206 d:Director5 2023-12-31 07796206 d:Director6 2023-01-01 2023-12-31 07796206 d:Director6 2023-12-31 07796206 d:RegisteredOffice 2023-01-01 2023-12-31 07796206 e:FurnitureFittings 2023-01-01 2023-12-31 07796206 e:FurnitureFittings 2023-12-31 07796206 e:FurnitureFittings 2022-12-31 07796206 e:FurnitureFittings e:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07796206 e:ComputerEquipment 2023-01-01 2023-12-31 07796206 e:PatentsTrademarksLicencesConcessionsSimilar 2023-01-01 2023-12-31 07796206 e:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 07796206 e:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 07796206 e:ComputerSoftware 2023-12-31 07796206 e:ComputerSoftware 2022-12-31 07796206 e:CurrentFinancialInstruments 2023-12-31 07796206 e:CurrentFinancialInstruments 2022-12-31 07796206 e:CurrentFinancialInstruments e:WithinOneYear 2023-12-31 07796206 e:CurrentFinancialInstruments e:WithinOneYear 2022-12-31 07796206 e:ShareCapital 2023-01-01 2023-12-31 07796206 e:ShareCapital 2023-12-31 07796206 e:ShareCapital 2022-01-01 2022-12-31 07796206 e:ShareCapital 2022-12-31 07796206 e:ShareCapital 2022-01-01 07796206 e:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 07796206 e:RetainedEarningsAccumulatedLosses 2023-12-31 07796206 e:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 07796206 e:RetainedEarningsAccumulatedLosses 2022-12-31 07796206 e:RetainedEarningsAccumulatedLosses 2022-01-01 07796206 e:RetainedEarningsAccumulatedLosses 2 2022-01-01 2022-12-31 07796206 d:FRS102 2023-01-01 2023-12-31 07796206 d:Audited 2023-01-01 2023-12-31 07796206 d:FullAccounts 2023-01-01 2023-12-31 07796206 d:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07796206 e:WithinOneYear 2023-12-31 07796206 e:WithinOneYear 2022-12-31 07796206 e:BetweenOneFiveYears 2023-12-31 07796206 e:BetweenOneFiveYears 2022-12-31 07796206 d:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 07796206 e:DevelopmentCostsCapitalisedDevelopmentExpenditure e:InternallyGeneratedIntangibleAssets 2023-01-01 2023-12-31 07796206 e:ComputerSoftware e:InternallyGeneratedIntangibleAssets 2023-01-01 2023-12-31 07796206 e:InternallyGeneratedIntangibleAssets 2023-01-01 2023-12-31 07796206 e:DevelopmentCostsCapitalisedDevelopmentExpenditure e:OwnedIntangibleAssets 2023-01-01 2023-12-31 07796206 e:ComputerSoftware e:OwnedIntangibleAssets 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Company registration number: 07796206







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023


PHARMAREVIEW LIMITED






































img547a.png                        

 


PHARMAREVIEW LIMITED
 


 
COMPANY INFORMATION


Directors
Robert Kotchie (appointed 31 August 2023)
Graham Russell Park (appointed 31 August 2023)




Company secretary
JTC (UK) LIMITED



Registered number
07796206



Registered office
3 Forbury Place, 23 Forbury Road
United Kingdom

Reading

RG1 3JH




Trading Address
Chiswick Business Park
Unit 6, Building 7

London

W4 5YG






Independent auditors
Menzies LLP
Chartered Accountants & Statutory Auditor

Lynton House

7-12 Tavistock Square

London

WC1H 9LT





 


PHARMAREVIEW LIMITED
 



CONTENTS



Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 10


 


PHARMAREVIEW LIMITED
REGISTERED NUMBER:07796206



BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
13,272
4,125

Tangible assets
 5 
64,394
184,350

  
77,666
188,475

Current assets
  

Debtors
 6 
4,068,333
2,508,094

Bank and cash balances
  
1,981,586
1,623,153

  
6,049,919
4,131,247

Creditors: amounts falling due within one year
 7 
(1,017,362)
(1,173,996)

Net current assets
  
 
 
5,032,557
 
 
2,957,251

Total assets less current liabilities
  
5,110,223
3,145,726

Provisions for liabilities
  

Deferred tax
  
-
(44,838)

  
 
 
-
 
 
(44,838)

Net assets
  
5,110,223
3,100,888


Capital and reserves
  

Called up share capital 
  
150
150

Profit and loss account
  
5,110,073
3,100,738

  
5,110,223
3,100,888


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: 




Graham Russell Park
Director

Date: 12 August 2024

The notes on pages 3 to 10 form part of these financial statements.

Page 1

 


PHARMAREVIEW LIMITED
 



STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 January 2022
150
2,561,104
2,561,254


Comprehensive income for the year

Profit for the year

-
2,921,176
2,921,176
Total comprehensive income for the year
-
2,921,176
2,921,176


Contributions by and distributions to owners

Dividends: Equity capital
-
(2,440,292)
(2,440,292)

Other movement type 1
-
58,750
58,750


Total transactions with owners
-
(2,381,542)
(2,381,542)



At 1 January 2023
150
3,100,738
3,100,888


Comprehensive income for the year

Profit for the year

-
2,009,335
2,009,335
Total comprehensive income for the year
-
2,009,335
2,009,335


Total transactions with owners
-
-
-


At 31 December 2023
150
5,110,073
5,110,223


The notes on pages 3 to 10 form part of these financial statements.

Page 2

 


PHARMAREVIEW LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Pharmareview Limited is a private company limited by shares and is registered and incorporated in England and Wales. The registered office and the principal place of business is listed on the informaiton page.

2.Accounting policies

  
2.1

Basis of preparation of financial statements

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 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 £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

 
2.2

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the group and company has adequate resources to continue in operational existence for the foreseeable future.

  
2.3

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

 
2.4

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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Page 3

 


PHARMAREVIEW LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Intangible assets

Intangible assets acquired separately from a business are initially recognised at cost. After recognition, under  cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over
their useful lives on the following bases:

Computer software and development
-

20% straight line



 
2.6

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.


Fixtures and fittings
-
20%
straight line
Computer equipment
-
20%
straight line

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.

  
2.7

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 or 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.

 
2.8

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial
assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans
to related parties and investments in non-puttable ordinary shares. 

Page 4

 


PHARMAREVIEW LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

Taxation

The tax expense represents the sum of the current tax expense and deferred tax expense. Current tax assets are recognised when tax paid exceeds the tax payable.

Current and deferred tax is charged or credited to profit or loss, except when it relates to items charged or credited to other comprehensive income or equity, when the tax follows the transaction or event it relates to and is also charged or credited to other comprehensive income, or equity.
Current tax assets and current tax liabilities and deferred tax assets and deferred tax liabilities are offset, if and only if, there is a legally enforceable right to set off the amounts and the entity intends either to settle on the net basis or to realise the asset and settle the liability simultaneously.
Current tax is based on taxable profit for the year. Current tax assets and liabilities are measured using tax rates that have been enacted or substantively enacted by the reporting date.
Deferred tax is calculated at the tax rates that are expected to apply to the period when the asset is realised or the liability is settled based on tax rates that have been enacted or substantively enacted by the reporting date.
Deferred tax liabilities are recognised in respect of all timing differences that exist at the reporting date. Timing differences are differences between taxable profits and total comprehensive income that arise from the inclusion of income and expenses in tax assessments in different periods from their recognition in the financial statements. Deferred tax assets are recognised only to the extent that it is probable that they will be recovered by the reversal of deferred tax liabilities or other future taxable profits.

  
2.10

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

  
2.11

Retirement benefits

For defined contribution schemes the amount charged to profit or loss is the contributions payable in the year. Differences between contributions payable in the year and contributions actually paid are shown as either other creditors or other debtors.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

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.

 
2.14

Creditors

Short-term creditors 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.

Page 5

 


PHARMAREVIEW LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

  
2.16

Share based payments

Each restricted stock unit represents the right to receive one share of IQVIA Inc. stock shortly after vesting. These restricted stock units will settle in shares of IQVIA Inc stock within 45 days of the applicable vesting date. The fair values of these options and awards are calculated at their grant dates and charged to the income statement over the relevant vesting periods.
The options vest over a three year period with one third of the shares vesting on the first, second and third anniversaries from the date the shares were granted.


3.


Employees

The average monthly number of employees, including directors, during the year was 94 (2022 -63).

Page 6

 


PHARMAREVIEW LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Intangible assets




Development expenditure
Computer software
Total

£
£
£



Cost


At 1 January 2023
1,012
5,000
6,012


Additions
-
11,520
11,520



At 31 December 2023

1,012
16,520
17,532



Amortisation


At 1 January 2023
1,012
875
1,887


Charge for the year on owned assets
-
2,373
2,373



At 31 December 2023

1,012
3,248
4,260



Net book value



At 31 December 2023
-
13,272
13,272



At 31 December 2022
-
4,125
4,125



Page 7

 


PHARMAREVIEW LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 January 2023
292,323


Additions
21,985



At 31 December 2023

314,308



Depreciation


At 1 January 2023
107,973


Charge for the year on owned assets
141,941



At 31 December 2023

249,914



Net book value



At 31 December 2023
64,394



At 31 December 2022
184,350


6.


Debtors

2023
2022
£
£



Trade debtors
2,070,774
1,871,515

Amounts owed by group undertakings
1,722,472
2,669

Other debtors
189,544
82,140

Prepayments and accrued income
76,930
551,770

Deferred taxation
8,613
-

4,068,333
2,508,094


Page 8

 


PHARMAREVIEW LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
95,986
190,218

Amounts owed to group undertakings
-
31,800

Corporation tax
-
245,963

Other taxation and social security
498,908
357,184

Other creditors
6,084
5,309

Accruals and deferred income
416,384
343,522

1,017,362
1,173,996



8.


Contingent liabilities

The company has fully repaid the banking facilities arranged by the group with Clydesdale Bank PLC. As at 31 December 2023, the group did not have any balance outstanding (2022: £6,731,398).


9.


Commitments under operating leases

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
174,563
170,456

Later than 1 year and not later than 5 years
73,448
248,010

248,011
418,466


10.


Related party transactions

The company has taken advantage of the exemption in FRS 102 33.1A not to disclose transactions entered into between two, or more, members of the group where subsidiaries party to the transaction are wholly owned members of the group. The balances outstanding with the company are shown in aggregate in debtors and creditors under amounts owned by and to group undertakings respectively.


11.


Controlling party

The immediate parent company is IQVIA Limited, a company incorporated in United Kingdom. 
The ultimate controling party is IQVIA Holdings Inc, a company incorporated in the United States of America.
IQVIA Holdings Inc., registered at 4820 Emperor Road, Duham, North Carolina 27703, United States, is the parent undertaking the smallest and largest group of undertakings to consolidate these financial statements at 31 December 2023. The consolidated financial statements of IQVIA Holdings Inc. may be obtained for the company's website www.iqvia.com.

Page 9

 


PHARMAREVIEW LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

12.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 12 August 2024 by Ralph Mitchison FCA (Senior statutory auditor) on behalf of Menzies LLP.

 
Page 10