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REGISTERED NUMBER: 05136544 (England and Wales)















AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

PICIS CLINICAL SOLUTIONS, LTD.

PICIS CLINICAL SOLUTIONS, LTD. (REGISTERED NUMBER: 05136544)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PICIS CLINICAL SOLUTIONS, LTD.

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTOR: Mr J Bender





REGISTERED OFFICE: PO Box C/O PPK
Sandhurst House
297 Yorktown Road,
Sandhurst
Berkshire
GU47 0QA





REGISTERED NUMBER: 05136544 (England and Wales)





AUDITORS: Kings CAP Ltd
Statutory Auditor
4 Grovelands
Boundary Way
Hemel Hempstead
Hertfordshire
HP2 7TE

PICIS CLINICAL SOLUTIONS, LTD. (REGISTERED NUMBER: 05136544)

BALANCE SHEET
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,709 -

CURRENT ASSETS
Debtors 5 3,944,658 3,466,599
Cash at bank - 3,040
3,944,658 3,469,639
CREDITORS
Amounts falling due within one year 6 3,594,281 3,137,634
NET CURRENT ASSETS 350,377 332,005
TOTAL ASSETS LESS CURRENT
LIABILITIES

352,086

332,005

CAPITAL AND RESERVES
Called up share capital 7 1,000 1,000
Retained earnings 351,086 331,005
SHAREHOLDERS' FUNDS 352,086 332,005

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 Profit & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 September 2024 and were signed by:





Mr J Bender - Director


PICIS CLINICAL SOLUTIONS, LTD. (REGISTERED NUMBER: 05136544)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Picis Clinical Solutions, Ltd. 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 company's going concern status is dependent upon the continued financial support of the parent undertaking. Having made appropriate enquiries at the time of approving these accounts the director considers that the company and the parent undertaking have adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis in preparing these accounts.

Turnover
Turnover represents costs incurred plus an agreed profit percentage and is derived solely from the parent company.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Computer equipment - 33% on cost

PICIS CLINICAL SOLUTIONS, LTD. (REGISTERED NUMBER: 05136544)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors and loans from fellow group undertakings, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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 balance sheet date.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

PICIS CLINICAL SOLUTIONS, LTD. (REGISTERED NUMBER: 05136544)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
Additions 1,758
At 31 December 2023 1,758
DEPRECIATION
Charge for year 49
At 31 December 2023 49
NET BOOK VALUE
At 31 December 2023 1,709

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Amounts owed by group undertakings 3,939,639 3,465,916
Other debtors - 60
Tax 3,873 -
Value added tax 816 623
Prepayments 330 -
3,944,658 3,466,599

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Amounts owed to group undertakings 3,506,693 3,054,967
Taxation - 1,971
Other creditors 12,993 -
Accruals 74,595 80,696
3,594,281 3,137,634

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
1,000 Ordinary £1 1,000 1,000

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

The Report of the Auditors was unqualified.

Sara Brown (Senior Statutory Auditor)
for and on behalf of Kings CAP Ltd

PICIS CLINICAL SOLUTIONS, LTD. (REGISTERED NUMBER: 05136544)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

9. RELATED PARTY DISCLOSURES

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

10. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to assist with the preparation of the financial statements.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Constellation Software Inc..

The ultimate controlling party address is 20 Adelaide Street East, Suite 1200, Toronto, Ontario, Canada M5C 2T6. The company is registered in Canada.

The parent company is Picis Clinical Solutions, Inc, 9 Centennial Drive, Suite 202, Peabody, Massachusetts, 01960 USA. The company is registered in the USA.