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Company Registration No. NI071762 (Northern Ireland)
O4 Research Limited Unaudited accounts for the year ended 31 July 2024
O4 Research Limited Unaudited accounts Contents
Page
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O4 Research Limited Company Information for the year ended 31 July 2024
Directors
Ian Geoffrey Pennick Maria Saddiq Moneeb Saddiq
Company Number
NI071762 (Northern Ireland)
Registered Office
Innovation Centre Queens Road Titanic Quarter Belfast BT3 9DT Antrim
Accountants
PGR Chartered Accountants Unit 2 Channel Wharf 21 Old Channel Road Belfast Antrim BT3 9DE
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O4 Research Limited Statement of financial position as at 31 July 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
40,562 
54,567 
Current assets
Debtors
317,378 
392,795 
Cash at bank and in hand
1,263,231 
1,120,972 
1,580,609 
1,513,767 
Creditors: amounts falling due within one year
(77,032)
(62,397)
Net current assets
1,503,577 
1,451,370 
Net assets
1,544,139 
1,505,937 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
1,544,138 
1,505,936 
Shareholders' funds
1,544,139 
1,505,937 
For the year ending 31 July 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 12 March 2025 and were signed on its behalf by
Maria Saddiq Director Company Registration No. NI071762
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O4 Research Limited Notes to the Accounts for the year ended 31 July 2024
1
Statutory information
O4 Research Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI071762. The registered office is Innovation Centre Queens Road, Titanic Quarter, Belfast, BT3 9DT, Antrim.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
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.
Basis of preparation
The accounts have been prepared under the historical cost convention unless otherwise specified and in accordance with FRS 102 Section 1A.
Going concern
The directors believe that O4 Research Limited has adequate resources available to enable it to continue to meet its ongoing obligations as and when they fall due for at least a period of 12 months from the date of approval of the financial statements. Accordingly, O4 Research Limited continues to adopt the going concern basis in preparation of its financial statements.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be measured reliably. Revenue from a contract to provide clinical trials is recognised in the period in which the services are provided in accordance with the stage of completion of the clinical trials when: the amount of revenue can be measured reliably.
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:
Fixtures & fittings
20% straight line
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Intangible assets are amortised over 5 years.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
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O4 Research Limited Notes to the Accounts for the year ended 31 July 2024
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 August 2023
45,782 
At 31 July 2024
45,782 
Amortisation
At 1 August 2023
45,782 
At 31 July 2024
45,782 
Net book value
At 31 July 2024
- 
5
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 August 2023
140,126 
Additions
799 
At 31 July 2024
140,925 
Depreciation
At 1 August 2023
85,559 
Charge for the year
14,804 
At 31 July 2024
100,363 
Net book value
At 31 July 2024
40,562 
At 31 July 2023
54,567 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
241,746 
307,710 
Accrued income and prepayments
59,843 
85,085 
Other debtors
15,789 
- 
317,378 
392,795 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
2,826 
3,224 
Taxes and social security
34,937 
41,476 
Other creditors
2,743 
1,152 
Loans from directors
32,526 
12,545 
Accruals
4,000 
4,000 
77,032 
62,397 
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O4 Research Limited Notes to the Accounts for the year ended 31 July 2024
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £0.01 each
1 
1 
9
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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