Company registration number 14454742 (England and Wales)
INTERNATIONAL SOS CONSULTING UK LIMITED
(FORMERLY INTERNATIONAL SOS UK CONSULTING & SOLUTIONS LIMITED)
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023
INTERNATIONAL SOS CONSULTING UK LIMITED
(FORMERLY INTERNATIONAL SOS UK CONSULTING & SOLUTIONS LIMITED)
COMPANY INFORMATION
Directors
M R Gardner
(Appointed 1 November 2022)
P J Jenkins
(Appointed 1 November 2022)
P G Lavallee
(Appointed 1 September 2023)
Company number
14454742
Registered office
Building 4 Chiswick Park
566 Chiswick High Road
Chiswick
London
United Kingdom
W4 5YE
Auditor
Azets Audit Services
37 Albyn Place
Aberdeen
United Kingdom
AB10 1JB
INTERNATIONAL SOS CONSULTING UK LIMITED
(FORMERLY INTERNATIONAL SOS UK CONSULTING & SOLUTIONS LIMITED)
CONTENTS
Page
Directors' report
1 - 2
Independent auditor's report
3 - 5
Statement of comprehensive income
6
Balance sheet
7
Statement of changes in equity
8
Notes to the financial statements
9 - 17
INTERNATIONAL SOS CONSULTING UK LIMITED
(FORMERLY INTERNATIONAL SOS UK CONSULTING & SOLUTIONS LIMITED)
DIRECTORS' REPORT
FOR THE PERIOD ENDED 30 JUNE 2023
- 1 -

The directors present their annual report and financial statements for the period ended 30 June 2023.

Principal activities

The principal activity of the company continued to be that of design, implementation and management of health programmes.

 

On 2 November 2023, the company changed its name from International SOS UK Consulting & Solutions Limited to International SOS Consulting UK Limited.

Future developments

The company have continued to expand their trade beyond the period end and have secured contracts with third parties which the directors believe will be key to the growth of the company moving forward.

Results and dividends

The results for the period are set out on page 6.

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the period and up to the date of signature of the financial statements were as follows:

M R Gardner
(Appointed 1 November 2022)
P J Jenkins
(Appointed 1 November 2022)
P G Lavallee
(Appointed 1 September 2023)
Qualifying third party indemnity provisions

As permitted by the Articles of Association, the Directors have the benefit of an indemnity which is a qualifying third party provision as defined by Section 234 of the Companies Act 2006. The indemnity was in force throughout the financial period and is currently in force.

Going Concern

The directors believe that preparing the financial statements on a going concern basis is appropriate due to a number of factors. The business meets its day to day working capital needs through internal cash management within intercompany and banking facilities. The Board have sensitised forecasts and projections for the next 12 months to take into account possible downside scenarios in trading circumstances to determine when and to what extent additional measures may be necessary. The Board are confident of their ability to meet all obligations for a period of at least 12 months from the date of approval of these financial statements.

 

The board have assessed that the group has adequate ability to support the company. As with any company placing reliance on other group entities for financial support, the directors acknowledge that there can be no certainty that this support will continue although, at the date of approval of these financial statements, they have no reason to believe that it will not do so.

 

Based upon the above information and the continued support of AEA International Holdings Pte. Ltd. with internal cash management, the directors continue to adopt the going concern basis in preparing the financial statements.

Post reporting date events

There have been no significant events impacting the company since the year end.

Auditor

Azets Audit Services were appointed as auditor to the company and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at a General Meeting.

INTERNATIONAL SOS CONSULTING UK LIMITED
(FORMERLY INTERNATIONAL SOS UK CONSULTING & SOLUTIONS LIMITED)
DIRECTORS' REPORT (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2023
- 2 -
Statement of directors' responsibilities

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

 

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

 

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Small companies note

In preparing this report. the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

On behalf of the board
P J Jenkins
Director
25 March 2025
INTERNATIONAL SOS CONSULTING UK LIMITED
(FORMERLY INTERNATIONAL SOS UK CONSULTING & SOLUTIONS LIMITED)
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF INTERNATIONAL SOS CONSULTING UK LIMITED
- 3 -
Opinion

We have audited the financial statements of International SOS Consulting UK Limited (the 'company') for the period ended 30 June 2023 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 101 Reduced Disclosure Framework (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

INTERNATIONAL SOS CONSULTING UK LIMITED
(FORMERLY INTERNATIONAL SOS UK CONSULTING & SOLUTIONS LIMITED)
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF INTERNATIONAL SOS CONSULTING UK LIMITED
- 4 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report.

 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities is available on the Financial Reporting Council's website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

INTERNATIONAL SOS CONSULTING UK LIMITED
(FORMERLY INTERNATIONAL SOS UK CONSULTING & SOLUTIONS LIMITED)
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF INTERNATIONAL SOS CONSULTING UK LIMITED
- 5 -

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.

 

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework.  Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion.  This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

 

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

 

 

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation.  This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.  The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Use of our report

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

David Booth (Senior Statutory Auditor)
For and on behalf of Azets Audit Services
25 March 2025
Chartered Accountants
Statutory Auditor
37 Albyn Place
Aberdeen
United Kingdom
AB10 1JB
INTERNATIONAL SOS CONSULTING UK LIMITED
(FORMERLY INTERNATIONAL SOS UK CONSULTING & SOLUTIONS LIMITED)
STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIOD ENDED 30 JUNE 2023
- 6 -
Period
ended
30 June
2023
Notes
£
Turnover
3
317,010
Cost of sales
(838,659)
Gross loss
(521,649)
Administrative expenses
(333,806)
Other operating income
4
1,047,594
Profit before taxation
5
192,139
Tax on profit
7
(48,035)
Profit and total comprehensive income for the financial period
144,104

The statement of comprehensive income has been prepared on the basis that all operations are continuing operations.

The notes on pages 9 to 17 form part of these financial statements.

INTERNATIONAL SOS CONSULTING UK LIMITED
(FORMERLY INTERNATIONAL SOS UK CONSULTING & SOLUTIONS LIMITED)
BALANCE SHEET
AS AT
30 JUNE 2023
30 June 2023
- 7 -
2023
Notes
£
£
Fixed assets
Investments
8
1
Current assets
Deferred tax asset
12
15,830
Debtors
10
947,440
963,270
Creditors: amounts falling due within one year
11
(819,166)
Net current assets
144,104
Net assets
144,105
Capital and reserves
Called up share capital
14
1
Profit and loss reserves
144,104
Total equity
144,105

The notes on pages 9 to 17 form part of these financial statements.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 25 March 2025 and are signed on its behalf by:
P J Jenkins
Director
Company registration number 14454742
INTERNATIONAL SOS CONSULTING UK LIMITED
(FORMERLY INTERNATIONAL SOS UK CONSULTING & SOLUTIONS LIMITED)
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 30 JUNE 2023
- 8 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 November 2022
-
0
-
0
-
0
Period ended 30 June 2023:
Profit and total comprehensive income for the period
-
144,104
144,104
Transactions with owners in their capacity as owners:
Issue of share capital
14
1
-
1
Balance at 30 June 2023
1
144,104
144,105

The notes on pages 9 to 17 form part of these financial statements.

INTERNATIONAL SOS CONSULTING UK LIMITED
(FORMERLY INTERNATIONAL SOS UK CONSULTING & SOLUTIONS LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023
- 9 -
1
Accounting policies
Company information

International SOS Consulting UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is Building 4 Chiswick Park, 566 Chiswick High Road, Chiswick, London, United Kingdom, W4 5YE. The company's principal activities and nature of its operations are disclosed in the directors' report.

1.1
Reporting period

The financial statements are prepared for a period of shorter than twelve months this is to align the period end with the wider group. There are no comparative presented as this is the first period from the date of incorporation to 30 June 2023.

1.2
Accounting convention

The financial statements have been prepared in accordance with Financial Reporting Standard 101 Reduced Disclosure Framework (FRS 101) and in accordance with applicable accounting standards.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

As permitted by FRS 101, the company has taken advantage of the following disclosure exemptions from the requirements of IFRS:

 

- paragraph 79(a)(iv) of IAS1;

- paragraph 73(e) of IAS 16 Property, Plant and Equipment;

- paragraph 118(e) of IAS 38 Intangible Assets:

Where required, equivalent disclosures are given in the group accounts of AEA International Holdings Pte. Ltd. The group accounts of AEA International Holdings Pte. Ltd. are available to the public and can be obtained from its registered address 8 Changi Business Park Avenue 1, #07-53, ESR Bizpark @ Changi, Singapore 486018.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

INTERNATIONAL SOS CONSULTING UK LIMITED
(FORMERLY INTERNATIONAL SOS UK CONSULTING & SOLUTIONS LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 10 -
1.3
Going concern

The directors believe that preparing the financial statements on a going concern basis is appropriate due to a number of factors. The business meets its day to day working capital needs through internal cash management within intercompany and banking facilities. trueThe Board have sensitised forecasts and projections for the next 12 months to take into account possible downside scenarios in trading circumstances to determine when and to what extent additional measures may be necessary. The Board are confident of their ability to meet all obligations for a period of at least 12 months from the date of approval of these financial statements.

 

The board have assessed that the group has adequate ability to support the company. As with any company placing reliance on other group entities for financial support, the directors acknowledge that there can be no certainty that this support will continue although, at the date of approval of these financial statements, they have no reason to believe that it will not do so.

 

Based upon the above information and the continued support of AEA International Holdings Pte. Ltd. with internal cash management, the directors continue to adopt the going concern basis in preparing the financial statements.

1.4
Turnover

Revenue from providing services is recognised in the accounting period in which the services are rendered.

 

For fixed-price contracts, revenue is recognised based on the actual service provided to the end of the reporting period as a proportion of the total services to be provided because the customer receives and uses the benefits simultaneously.

1.5
Fixed asset investments

Investments in subsidiaries are measured at cost less accumulated impairment.

1.6
Impairment of fixed asset investments

At each reporting end date, the company reviews the carrying amounts of its fixed asset investments 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). 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.

Recoverable amount is the higher of fair value less costs to sell and 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.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. 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.

 

Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

INTERNATIONAL SOS CONSULTING UK LIMITED
(FORMERLY INTERNATIONAL SOS UK CONSULTING & SOLUTIONS LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 11 -
1.7
Financial assets

Financial assets are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets are classified into specified categories, depending on the nature and purpose of the financial assets.

 

At initial recognition, financial assets classified as fair value through profit and loss are measured at fair value and any transaction costs are recognised in profit or loss. Financial assets not classified as fair value through profit and loss are initially measured at fair value plus transaction costs.

Financial assets at fair value through profit or loss

When any of the above-mentioned conditions for classification of financial assets is not met, a financial asset is classified as measured at fair value through profit or loss. Financial assets measured at fair value through profit or loss are recognized initially at fair value and any transaction costs are recognised in profit or loss when incurred. A gain or loss on a financial asset measured at fair value through profit or loss is recognised in profit or loss, and is included within finance income or finance costs in the statement of income for the reporting period in which it arises.

Financial assets held at amortised cost

Financial instruments are classified as financial assets measured at amortised cost where the objective is to hold these assets in order to collect contractual cash flows, and the contractual cash flows are solely payments of principal and interest. They arise principally from the provision of goods and services to customers (eg trade receivables). They are initially recognised at fair value plus transaction costs directly attributable to their acquisition or issue, and are subsequently carried at amortised cost using the effective interest rate method, less provision for impairment where necessary.

Impairment of financial assets

The company always recognises lifetime ECL for trade receivables and amounts due on contracts with customers. The expected credit losses on these financial assets are estimated based on the company's historical credit loss experience, adjusted for factors that are specific to the debtors, general economic conditions and an assessment of both the current as well as the forecast direction of conditions at the reporting date, including time value of money where appropriate. Lifetime ECL represents the expected credit losses that will result from all possible default events over the expected life of a financial instrument.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

1.8
Financial liabilities

The company recognises financial debt when the company becomes a party to the contractual provisions of the instruments. Financial liabilities are classified as either 'financial liabilities at fair value through profit or loss' or 'other financial liabilities'.

Other financial liabilities

Other financial liabilities, including borrowings, trade payables and other short-term monetary liabilities, are initially measured at fair value net of transaction costs directly attributable to the issuance of the financial liability. They are subsequently measured at amortised cost using the effective interest method. For the purposes of each financial liability, interest expense includes initial transaction costs and any premium payable on redemption, as well as any interest or coupon payable while the liability is outstanding.

Derecognition of financial liabilities

Financial liabilities are derecognised when, and only when, the company’s obligations are discharged, cancelled, or they expire.

INTERNATIONAL SOS CONSULTING UK LIMITED
(FORMERLY INTERNATIONAL SOS UK CONSULTING & SOLUTIONS LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 12 -
1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax is the tax expected to be payable or recoverable on differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit, and is accounted for using the balance sheet liability method. Deferred tax liabilities are generally recognised for all taxable temporary differences and deferred tax assets are recognised to the extent that it is probable that taxable profits will be available against which deductible temporary differences can be utilised. Such assets and liabilities are not recognised if the temporary difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of inventories or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13

Intercompany payables and receivables

Intercompany payables and receivables are recognised as a net position. This is representative of the expected cash flows in relation to receivables and payables as respects intercompany trade and cash transfers for group liquidity management.

INTERNATIONAL SOS CONSULTING UK LIMITED
(FORMERLY INTERNATIONAL SOS UK CONSULTING & SOLUTIONS LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 13 -
1.14

Foreign exchange

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 statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'administrative expenses'.

2
Critical accounting estimates and judgements

The preparation of the financial statements requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the period. Although these estimates are based on management’s best knowledge of the amount, event or actions, actual results ultimately may differ from those estimates. Significant judgements and estimates in these financial statements have been made with regard to recovery of amounts owed by group undertakings. Management have made no impairment in respect of amounts owed by group undertakings in the period.

3
Turnover
2023
£
Turnover analysed by class of business
Medical consultancy services
317,010
2023
£
Turnover analysed by geographical market
Europe
40,819
Middle East
239,695
Africa
36,496
317,010
4
Other operating income
2023
£
Management fees received
1,047,594
INTERNATIONAL SOS CONSULTING UK LIMITED
(FORMERLY INTERNATIONAL SOS UK CONSULTING & SOLUTIONS LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2023
4
Other operating income
(Continued)
- 14 -
5
Operating profit
2023
Operating profit for the period is stated after charging/(crediting):
£
Exchange gains
(14,036)
6
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2023
Number
16

Their aggregate remuneration comprised:

2023
£
Wages and salaries
395,554
Social security costs
48,798
Pension costs
19,113
463,465
7
Taxation
2023
£
Current tax
Group tax reliefs
63,865
Deferred tax
Origination and reversal of temporary differences
(15,830)
Total tax charge
48,035
INTERNATIONAL SOS CONSULTING UK LIMITED
(FORMERLY INTERNATIONAL SOS UK CONSULTING & SOLUTIONS LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2023
7
Taxation
(Continued)
- 15 -

The charge for the period can be reconciled to the profit per the profit and loss account as follows:

2023
£
Profit before taxation
192,139
Expected tax charge based on a corporation tax rate of 25.00%
48,035
Tax charged in the financial statements
48,035
8
Investments
Investments in subsidiaries
£
Cost or valuation
At 1 November 2022
-
Additions
2
Disposals
(1)
At 30 June 2023
1
Carrying amount
At 30 June 2023
1

During the period the company had an investment in International SOS Mauritius Consulting & Solutions Limited. Prior to the period end this was transferred to another group entity for the par value of the share capital.

9
Subsidiaries

Details of the company's subsidiaries at 30 June 2023 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
International SOS Consulting and Solutions PTE Ltd
8 Changi Business Park Avenue 1, #07-53, ESR Bizpark @ Changi, Singapore 486018.
Ordinary
100.00
INTERNATIONAL SOS CONSULTING UK LIMITED
(FORMERLY INTERNATIONAL SOS UK CONSULTING & SOLUTIONS LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2023
- 16 -
10
Debtors
2023
£
Amounts owed by fellow group undertakings
946,395
Other debtors
1,045
947,440

Amount owed by group undertakings are unsecured, interest free, repayable on demand and have no fixed repayment date.

11
Creditors
2023
£
Trade creditors
6,269
Amounts owed to fellow group undertakings
527,706
Accruals and deferred income
192,390
Social security and other taxation
58,213
Other creditors
34,588
819,166

Amount owed by group undertakings are unsecured, interest free, repayable on demand and have no fixed repayment date.

12
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon during the current and prior reporting period.

Short term timing differences
£
Asset at 1 November 2022
-
Deferred tax movements in current year
Charge/(credit) to profit or loss
(15,830)
Asset at 30 June 2023
(15,830)
INTERNATIONAL SOS CONSULTING UK LIMITED
(FORMERLY INTERNATIONAL SOS UK CONSULTING & SOLUTIONS LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2023
- 17 -
13
Retirement benefit schemes
2023
Defined contribution schemes
£
Charge to profit or loss in respect of defined contribution schemes
19,113

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

14
Share capital
2023
2023
Ordinary share capital
Number
£
Issued and fully paid
Ordinary shares of £1 each
1
1
15
Controlling party

The company is a subsidiary undertaking of International SOS Pte. Ltd., a company registered in Singapore. The results of the company are included in the consolidated financial statements of AEA International Holdings Pte. Ltd. ("AEA"). AEA is the operating parent holding company of the International SOS group of companies and the directors considered AEA to have control of the company. The financial statements of AEA are available from 8 Changi Business Park Avenue 1, #07-53, ESR Bizpark @ Changi, Singapore 486018.

 

The company's ultimate parent undertaking, and controlling party is Blue Mountain Pte. Ltd.

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