Company Registration No. NI071762 (Northern Ireland)
O4 Research Limited
Unaudited accounts
for the year ended 31 July 2024
O4 Research Limited
Unaudited accounts
Contents
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
O4 Research Limited
Statement of financial position
as at 31 July 2024
Tangible assets
40,562
54,567
Cash at bank and in hand
1,263,231
1,120,972
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
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
O4 Research Limited
Notes to the Accounts
for the year ended 31 July 2024
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.
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.
The accounts have been prepared under the historical cost convention unless otherwise specified and in accordance with FRS 102 Section 1A.
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.
The accounts are presented in £ sterling.
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 (including purchased goodwill and patents) are included at cost less accumulated amortisation. Intangible assets are amortised over 5 years.
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.
O4 Research Limited
Notes to the Accounts
for the year ended 31 July 2024
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Fixtures & fittings
Charge for the year
14,804
Amounts falling due within one year
Trade debtors
241,746
307,710
Accrued income and prepayments
59,843
85,085
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
O4 Research Limited
Notes to the Accounts
for the year ended 31 July 2024
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).