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COMPANY REGISTRATION NUMBER: 11657113
CBO Clinical Monitoring Services Limited
Filleted Unaudited Financial Statements
30 November 2023
CBO Clinical Monitoring Services Limited
Financial Statements
Year ended 30 November 2023
Contents
Page
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
4
CBO Clinical Monitoring Services Limited
Officers and Professional Advisers
Director
Mrs O Omiyale
Registered office
6 Thrum Fold
Rochdale
OL12 6DG
Accountants
Rose, Chartered Accountants
92a Bury Old Road
Whitefield
Manchester
M45 6TQ
Company number 11657113
CBO Clinical Monitoring Services Limited
Statement of Financial Position
30 November 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
1,200
940
Current assets
Debtors
6
280,702
97,442
Cash at bank and in hand
511
44,846
---------
---------
281,213
142,288
Creditors: amounts falling due within one year
7
104,566
51,004
---------
---------
Net current assets
176,647
91,284
---------
--------
Total assets less current liabilities
177,847
92,224
---------
--------
Net assets
177,847
92,224
---------
--------
Capital and reserves
Called up share capital
1
1
Profit and loss account
177,846
92,223
---------
--------
Shareholder funds
177,847
92,224
---------
--------
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 income and retained earnings 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.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
CBO Clinical Monitoring Services Limited
Statement of Financial Position (continued)
30 November 2023
These financial statements were approved by the board of directors and authorised for issue on 29 August 2024 , and are signed on behalf of the board by:
Mrs O Omiyale
Director
Company registration number: 11657113
CBO Clinical Monitoring Services Limited
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 6 Thrum Fold, Rochdale, OL12 6DG.
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
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.
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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Equipment
-
33% reducing balance
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
Equipment
£
Cost
At 1 December 2022
2,441
Additions
851
-------
At 30 November 2023
3,292
-------
Depreciation
At 1 December 2022
1,501
Charge for the year
591
-------
At 30 November 2023
2,092
-------
Carrying amount
At 30 November 2023
1,200
-------
At 30 November 2022
940
-------
6. Debtors
2023
2022
£
£
Trade debtors
2,000
2,000
Other debtors
278,702
95,442
---------
--------
280,702
97,442
---------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Social security and other taxes
104,401
51,004
Other creditors
165
---------
--------
104,566
51,004
---------
--------
8. Director's advances, credits and guarantees
Advances or credits have been granted by the company to its directors as follows:
Opening balance Amounts advanced Amounts repaid Closing balance
£ £ £ £
Loan 56,344 135,821 192,165
9. Related party transactions
As at 30 November 2023 the company was owed £19,779 (30 November 2022: £18,179) from N C Grace Limited. N C Grace Limited is a related party through common control and directors.