Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-3162023-01-01falseNo description of principal activity5falsetrue 13426735 2022-01-01 2022-12-31 13426735 2023-01-01 2023-12-31 13426735 2023-12-31 13426735 2022-12-31 13426735 2022-01-01 13426735 c:CompanySecretary1 2023-01-01 2023-12-31 13426735 c:Director3 2023-01-01 2023-12-31 13426735 c:Director3 2023-12-31 13426735 c:Director4 2023-01-01 2023-12-31 13426735 c:Director4 2023-12-31 13426735 c:RegisteredOffice 2023-01-01 2023-12-31 13426735 d:CurrentFinancialInstruments 2023-12-31 13426735 d:CurrentFinancialInstruments 2022-12-31 13426735 d:Non-currentFinancialInstruments 2023-12-31 13426735 d:Non-currentFinancialInstruments 2022-12-31 13426735 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 13426735 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 13426735 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 13426735 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 13426735 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 13426735 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 13426735 d:ShareCapital 2023-01-01 2023-12-31 13426735 d:ShareCapital 2023-12-31 13426735 d:ShareCapital 2022-01-01 2022-12-31 13426735 d:ShareCapital 2022-12-31 13426735 d:ShareCapital 2022-01-01 13426735 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 13426735 d:RetainedEarningsAccumulatedLosses 2023-12-31 13426735 d:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 13426735 d:RetainedEarningsAccumulatedLosses 2022-12-31 13426735 d:RetainedEarningsAccumulatedLosses 2022-01-01 13426735 c:FRS102 2023-01-01 2023-12-31 13426735 c:Audited 2023-01-01 2023-12-31 13426735 c:FullAccounts 2023-01-01 2023-12-31 13426735 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13426735 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 13426735 6 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Company registration number: 13426735







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023


PHR BIDCO LIMITED






































img6b5f.png                        

 


PHR BIDCO LIMITED
 


 
COMPANY INFORMATION


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




Company secretary
JTC (UK) LIMITED



Registered number
13426735



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





 


PHR BIDCO LIMITED
 



CONTENTS



Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 7


 


PHR BIDCO LIMITED
REGISTERED NUMBER:13426735



BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Fixed Asset Investments
 4 
18,846,346
18,846,346

  
18,846,346
18,846,346

Current assets
  

Debtors: amounts falling due within one year
 5 
111,229
149,729

Cash at bank and in hand
  
55,762
66,626

  
166,991
216,355

Creditors: amounts falling due within one year
 6 
(12,529,277)
(5,804,493)

Net current liabilities
  
 
 
(12,362,286)
 
 
(5,588,138)

Total assets less current liabilities
  
6,484,060
13,258,208

Creditors: amounts falling due after more than one year
 7 
-
(5,902,388)

  

Net assets
  
6,484,060
7,355,820


Capital and reserves
  

Called up share capital 
  
4,755,398
4,755,398

Profit and loss account
  
1,728,662
2,600,422

  
6,484,060
7,355,820


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 7 form part of these financial statements.

Page 1

 


PHR BIDCO 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
4,751,349
610,109
5,361,458


Comprehensive income for the year

Profit for the year

-
1,990,313
1,990,313


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
1,990,313
1,990,313


Contributions by and distributions to owners

Shares issued during the year
4,049
-
4,049


Total transactions with owners
4,049
-
4,049



At 1 January 2023
4,755,398
2,600,422
7,355,820


Comprehensive income for the year

Loss for the year

-
(871,760)
(871,760)


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
(871,760)
(871,760)


Total transactions with owners
-
-
-


At 31 December 2023
4,755,398
1,728,662
6,484,060


The notes on pages 3 to 7 form part of these financial statements.

Page 2

 


PHR BIDCO LIMITED
 


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

1.


General information

PHR Bidco Limited is a private company limited by shares incorporated in England and Wales. The address of the registered office and principal place of business  is disclosed on the company information page.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
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 following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The Company, and the group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

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.

 
2.4

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. The following criteria must also be met before revenue is recognised:

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.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

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.

Page 3

 


PHR BIDCO LIMITED
 


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

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 balance sheet date in the countries where the Company operates and generates income.

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 4

 


PHR BIDCO LIMITED
 


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

2.Accounting policies (continued)

 
2.9

Financial instruments

The Company only enters into basic financial instrument 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 ordinary shares.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







5
6


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost 


At 1 January 2023
18,846,346



At 31 December 2023
18,846,346




On 1 July 2021 PHR Bidco Limited purchased 100% of the share capital of  Pharmareview Limited for
£18,268,094 plus acquisition costs of £578,252.


5.


Debtors

2023
2022
£
£


Trade debtors
-
131,175

Amounts owed by group undertakings
90,396
14,605

Other debtors
-
3,949

Tax recoverable
20,833
-

111,229
149,729


Page 5

 


PHR BIDCO LIMITED
 


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

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
-
453,445

Trade creditors
-
1,500

Amounts owed to group undertakings
12,392,621
5,294,081

Other taxation and social security
53,323
55,467

Accruals and deferred income
83,333
-

12,529,277
5,804,493


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).


7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
-
5,902,388

-
5,902,388



8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
-
453,445


-
453,445


Amounts falling due 2-5 years

Bank loans
-
5,902,388


-
5,902,388



Page 6

 


PHR BIDCO LIMITED
 


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

9.


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.


10.


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.


11.


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 7