Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Susan Jane Charles 03/06/2021 20 September 2024 no description of principal activity 13437051 2023-12-31 13437051 bus:Director1 2023-12-31 13437051 2022-12-31 13437051 core:CurrentFinancialInstruments 2023-12-31 13437051 core:CurrentFinancialInstruments 2022-12-31 13437051 core:ShareCapital 2023-12-31 13437051 core:ShareCapital 2022-12-31 13437051 core:RetainedEarningsAccumulatedLosses 2023-12-31 13437051 core:RetainedEarningsAccumulatedLosses 2022-12-31 13437051 core:CostValuation 2022-12-31 13437051 core:RevaluationsIncreaseDecreaseInInvestments 2023-12-31 13437051 core:CostValuation 2023-12-31 13437051 2023-01-01 2023-12-31 13437051 bus:FilletedAccounts 2023-01-01 2023-12-31 13437051 bus:SmallEntities 2023-01-01 2023-12-31 13437051 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 13437051 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13437051 bus:Director1 2023-01-01 2023-12-31 13437051 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Company No: 13437051 (England and Wales)

CHARLES CONSULTANTS (LIFE SCIENCES) LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

CHARLES CONSULTANTS (LIFE SCIENCES) LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

CHARLES CONSULTANTS (LIFE SCIENCES) LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2023
CHARLES CONSULTANTS (LIFE SCIENCES) LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
DIRECTOR Susan Jane Charles
REGISTERED OFFICE 12 The Close
Norwich
NR1 4DH
United Kingdom
COMPANY NUMBER 13437051 (England and Wales)
CHARTERED ACCOUNTANTS Gravita lll LLP
Aldgate Tower
Leman Street
London
United Kingdom
E1 8FA
CHARLES CONSULTANTS (LIFE SCIENCES) LIMITED

BALANCE SHEET

As at 31 December 2023
CHARLES CONSULTANTS (LIFE SCIENCES) LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Investments 3 251,352 248,031
251,352 248,031
Current assets
Debtors 4 95,760 31,001
Cash at bank and in hand 5 337,764 115,595
433,524 146,596
Creditors: amounts falling due within one year 6 ( 123,338) ( 61,919)
Net current assets 310,186 84,677
Total assets less current liabilities 561,538 332,708
Net assets 561,538 332,708
Capital and reserves
Called-up share capital 1 1
Profit and loss account 561,537 332,707
Total shareholder's funds 561,538 332,708

For the financial year ending 31 December 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 financial statements of Charles Consultants (Life Sciences) Limited (registered number: 13437051) were approved and authorised for issue by the Director on 20 September 2024. They were signed on its behalf by:

Susan Jane Charles
Director
CHARLES CONSULTANTS (LIFE SCIENCES) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
CHARLES CONSULTANTS (LIFE SCIENCES) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Charles Consultants (Life Sciences) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 12 The Close, Norwich, NR1 4DH, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and 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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews 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 asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

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. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either 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.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
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.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Fixed asset investments

Listed investments Total
£ £
Cost or valuation before impairment
At 01 January 2023 248,031 248,031
Movement in fair value 3,321 3,321
At 31 December 2023 251,352 251,352
Carrying value at 31 December 2023 251,352 251,352
Carrying value at 31 December 2022 248,031 248,031

4. Debtors

2023 2022
£ £
Trade debtors 75,838 10,756
Other debtors 19,922 20,245
95,760 31,001

5. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 337,764 115,595

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 26,116 1,401
Taxation and social security 95,216 57,856
Other creditors 2,006 2,662
123,338 61,919

7. Related party transactions

At the reporting date the company owed £6 (2022: £912) to the director. This amount is interest free and repayable on demand.