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Company Registration No. 11206357 (England and Wales)
iResearch Services Limited Unaudited accounts for the year ended 31 March 2024
iResearch Services Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
6,269 
4,222 
Tangible assets
32,985 
46,329 
39,254 
50,551 
Current assets
Debtors
499,031 
601,076 
Cash at bank and in hand
657,408 
563,878 
1,156,439 
1,164,954 
Creditors: amounts falling due within one year
(390,263)
(405,367)
Net current assets
766,176 
759,587 
Total assets less current liabilities
805,430 
810,138 
Creditors: amounts falling due after more than one year
(228,132)
(207,384)
Net assets
577,298 
602,754 
Capital and reserves
Called up share capital
100 
100 
Capital contribution reserve
101,768 
122,516 
Profit and loss account
475,430 
480,138 
Shareholders' funds
577,298 
602,754 
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 18 August 2024 and were signed on its behalf by
Y Shah Director Company Registration No. 11206357
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iResearch Services Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
iResearch Services Limited is a private company, limited by shares, registered in England and Wales, registration number 11206357. The registered office is North West House, 119 Marylebone Road, London, NW1 5PU, England.
2
Compliance with accounting standards
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "TheFinancialReporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Presentation currency
The functional and presentational currency of the company is £ and amounts are rounded to the nearest £.
Related party exemption
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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The company provides market research and public opinion polling. Revenue is recognised in the accounting period in which the services are rendered when the outcome of contract can be estimated reliably. The company uses the percentage of completion method on the actual services performed as a percentage of the total services to be provided.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% on cost
Intangible fixed assets
Intangible fixed assets are originally measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Computer software is being amortised evenly over the estimated useful life of ten years.
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iResearch Services Limited Notes to the Accounts for the year ended 31 March 2024
Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' 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. 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 liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Basic financial liabilities, including creditors, 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 assets are derecognised when the contractual rights to the cash flow expire or when substantially all the risks and rewards have been transferred. Financial liabilities are derecognised when then contractual obligations to make payments have expired.
Taxation
Taxation for the year comprises current tax. Tax is recognised in the Profit and 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 exchange
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Leasing commitments
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
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iResearch Services Limited Notes to the Accounts for the year ended 31 March 2024
4
Intangible fixed assets
Other 
£ 
Cost
At 1 April 2023
7,074 
Additions
3,523 
At 31 March 2024
10,597 
Amortisation
At 1 April 2023
2,852 
Charge for the year
1,476 
At 31 March 2024
4,328 
Net book value
At 31 March 2024
6,269 
At 31 March 2023
4,222 
5
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 April 2023
72,911 
262 
38,243 
111,416 
Additions
- 
378 
3,494 
3,872 
At 31 March 2024
72,911 
640 
41,737 
115,288 
Depreciation
At 1 April 2023
54,534 
87 
10,466 
65,087 
Charge for the year
10,937 
93 
6,186 
17,216 
At 31 March 2024
65,471 
180 
16,652 
82,303 
Net book value
At 31 March 2024
7,440 
460 
25,085 
32,985 
At 31 March 2023
18,377 
175 
27,777 
46,329 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
374,519 
581,192 
Amounts due from group undertakings etc.
56,093 
- 
Accrued income and prepayments
54,605 
9,384 
Other debtors
13,814 
10,500 
499,031 
601,076 
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iResearch Services Limited Notes to the Accounts for the year ended 31 March 2024
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
6,187 
49,992 
Trade creditors
187,248 
157,432 
Taxes and social security
52,226 
63,966 
Other creditors
92,821 
116,033 
Loans from directors
- 
16,364 
Accruals
51,781 
1,580 
390,263 
405,367 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Amounts owed to group undertakings and other participating interests
228,132 
207,384 
The loans from the parent company are interest free, unsecured and repayable by 13 February 2028.
9
Operating lease commitments
2024 
2023 
£ 
£ 
At 31 March 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
42,704 
64,506 
Later than one year and not later than five years
- 
42,704 
42,704 
107,210 
10
Controlling party
The company is a wholly owned subsidiary of iResearch Services Private Limited, its ultimate parent and whose registered office is registered office B3, Level 4, Cerebrum IT Park 2A, Pune, India 411006.
11
Average number of employees
During the year the average number of employees was 18 (2023: 20).
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