Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30true2830true2023-05-01falseSpecialist medical practicetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10099653 2023-05-01 2024-04-30 10099653 2022-05-01 2023-04-30 10099653 2024-04-30 10099653 2023-04-30 10099653 c:CompanySecretary1 2023-05-01 2024-04-30 10099653 c:Director1 2023-05-01 2024-04-30 10099653 c:Director2 2023-05-01 2024-04-30 10099653 c:RegisteredOffice 2023-05-01 2024-04-30 10099653 d:Buildings d:LongLeaseholdAssets 2023-05-01 2024-04-30 10099653 d:Buildings d:LongLeaseholdAssets 2024-04-30 10099653 d:Buildings d:LongLeaseholdAssets 2023-04-30 10099653 d:PlantMachinery 2023-05-01 2024-04-30 10099653 d:PlantMachinery 2024-04-30 10099653 d:PlantMachinery 2023-04-30 10099653 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 10099653 d:FurnitureFittings 2023-05-01 2024-04-30 10099653 d:FurnitureFittings 2024-04-30 10099653 d:FurnitureFittings 2023-04-30 10099653 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 10099653 d:ComputerEquipment 2023-05-01 2024-04-30 10099653 d:ComputerEquipment 2024-04-30 10099653 d:ComputerEquipment 2023-04-30 10099653 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 10099653 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 10099653 d:CurrentFinancialInstruments 2024-04-30 10099653 d:CurrentFinancialInstruments 2023-04-30 10099653 d:Non-currentFinancialInstruments 2024-04-30 10099653 d:Non-currentFinancialInstruments 2023-04-30 10099653 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 10099653 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 10099653 d:ShareCapital 2024-04-30 10099653 d:ShareCapital 2023-04-30 10099653 d:RetainedEarningsAccumulatedLosses 2024-04-30 10099653 d:RetainedEarningsAccumulatedLosses 2023-04-30 10099653 c:OrdinaryShareClass1 2023-05-01 2024-04-30 10099653 c:OrdinaryShareClass1 2024-04-30 10099653 c:OrdinaryShareClass1 2023-04-30 10099653 c:FRS102 2023-05-01 2024-04-30 10099653 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 10099653 c:FullAccounts 2023-05-01 2024-04-30 10099653 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 10099653 d:WithinOneYear 2024-04-30 10099653 d:WithinOneYear 2023-04-30 10099653 d:BetweenOneFiveYears 2024-04-30 10099653 d:BetweenOneFiveYears 2023-04-30 10099653 d:MoreThanFiveYears 2024-04-30 10099653 d:MoreThanFiveYears 2023-04-30 10099653 2 2023-05-01 2024-04-30 10099653 e:PoundSterling 2023-05-01 2024-04-30 xbrli:shares iso4217:GBP xbrli:pure


Registered number: 10099653












ST. PANCRAS CLINICAL RESEARCH LTD.
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

 

ST. PANCRAS CLINICAL RESEARCH LTD.

CONTENTS



Page
Company information
 
1
Balance sheet
 
2 - 3
Notes to the financial statements
 
4 - 12


 

ST. PANCRAS CLINICAL RESEARCH LTD.
 
COMPANY INFORMATION


Directors
D A James 
S C James 




Company secretary
S C James



Registered number
10099653



Registered office
3 White Lyon Court
Barbican

London

EC2Y 8EA




Accountants
Blick Rothenberg Limited
Chartered Accountants

16 Great Queen Street

Covent Garden

London

WC2B 5AH




Page 1


 
REGISTERED NUMBER:10099653
ST. PANCRAS CLINICAL RESEARCH LTD.

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
21,976
21,877

  
21,976
21,877

Current assets
  

Debtors: amounts falling due after more than one year
 5 
75,852
75,852

Debtors: amounts falling due within one year
 5 
754,754
1,579,181

Cash at bank and in hand
  
588,545
389,423

  
1,419,151
2,044,456

Creditors: amounts falling due within one year
 6 
(1,227,544)
(2,143,613)

Net current assets/(liabilities)
  
 
 
191,607
 
 
(99,157)

Total assets less current liabilities
  
213,583
(77,280)

  

Deferred tax
  
(4,709)
(4,392)

Net assets/(liabilities)
  
208,874
(81,672)


Capital and reserves
  

Called up share capital 
 7 
1
1

Profit and loss account
  
208,873
(81,673)

Total equity/(deficit)
  
208,874
(81,672)


Page 2


 
REGISTERED NUMBER:10099653
ST. PANCRAS CLINICAL RESEARCH LTD.
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 profit and loss account 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: 




S C James
Director

Date: 19 December 2024

The notes on pages 4 to 12 form part of these financial statements.

Page 3

 

ST. PANCRAS CLINICAL RESEARCH LTD.

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

St. Pancras Clinical Research Ltd is a private company limited by shares incorporated in England and Wales. Its registered office is 3 White Lyon Court, Barbican, London, EC2Y 8EA. 
The financial statements are presented in Sterling (£).

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the time of approving these financial statements, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.Financial assets

 
2.3

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 4

 

ST. PANCRAS CLINICAL RESEARCH LTD.

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
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:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the profit and loss account in the same period as the related expenditure.

 
2.7

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.8

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.

Page 5

 

ST. PANCRAS CLINICAL RESEARCH LTD.

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

  
2.9

Pensions

Defined contribution pension plan
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property
-
Over 3 years on a straight line basis
Plant and machinery
-
Over 4 years on a straight line basis
Fixtures and fittings
-
Over 4 years on a straight line basis
Computer equipment
-
Over 3 years on a straight line basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Page 6

 

ST. PANCRAS CLINICAL RESEARCH LTD.

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


2.13

Financial instruments

The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets and financial liabilities are recognised when the company becomes 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. 
 
The company’s policies for its major classes of financial assets and financial liabilities are set out below. 

Financial assets
Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Financial liabilities

Basic financial liabilities, including trade and other 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

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

Page 7

 

ST. PANCRAS CLINICAL RESEARCH LTD.

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)





Financial instruments (continued)

Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. 

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. 

For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. 
 
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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.

  
2.14

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.

Page 8

 

ST. PANCRAS CLINICAL RESEARCH LTD.

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

  
2.15

Current and deferred tax

The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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.
Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years.
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.
Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 28 (2023 - 30).

Page 9

 

ST. PANCRAS CLINICAL RESEARCH LTD.

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Tangible fixed assets





Long-term leasehold property
Plant and machinery
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£



Cost


At 1 May 2023
344,864
100,481
20,680
23,786
489,811


Additions
3,341
-
-
12,688
16,029



At 30 April 2024

348,205
100,481
20,680
36,474
505,840



Depreciation


At 1 May 2023
340,554
90,472
19,044
17,864
467,934


Charge for the year 
4,512
6,143
662
4,613
15,930



At 30 April 2024

345,066
96,615
19,706
22,477
483,864



Net book value



At 30 April 2024
3,139
3,866
974
13,997
21,976



At 30 April 2023
4,310
10,009
1,636
5,922
21,877

Page 10

 

ST. PANCRAS CLINICAL RESEARCH LTD.

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Debtors

2024
2023
£
£

Due after more than one year

Other debtors
75,852
75,852


2024
2023
£
£

Due within one year

Trade debtors
394,051
1,232,493

Other debtors
1,571
20

Prepayments and accrued income
359,132
346,668

754,754
1,579,181



6.


Creditors: amounts falling due within one year

2024
2023
£
£

Trade creditors
103,032
126,832

Corporation tax
81,039
8,879

Other taxation and social security
126,967
155,721

Other creditors
587,591
1,566,583

Accruals and deferred income
328,915
285,598

1,227,544
2,143,613



7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



2 (2023 - 2) Ordinary shares of £0.50 each
1
1



8.


Pension commitments

The company contributes to a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £19,938 (2023: £19,628). Contributions totalling £1,593 (2023: £1,880) were payable to the fund at the balance sheet date and are included in creditors.

Page 11

 

ST. PANCRAS CLINICAL RESEARCH LTD.

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

9.


Commitments under operating leases

At 30 April 2024 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
42,025
42,025

Later than 1 year and not later than 5 years
337,120
337,120

Later than 5 years
648,725
859,031

1,027,870
1,238,176


10.


Related party transactions

At the balance sheet date, the company owed the directors £586,675 (2023: £1,562,583). This balance attracts interest at 7.5% per annum and is repayable on demand.

 
Page 12