Company registration number 04798223 (England and Wales)
CLICK CONSULT LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
CLICK CONSULT LIMITED
COMPANY INFORMATION
Directors
D Cumiskey
(Appointed 1 May 2024 and resigned 4 April 2025)
S Johns
(Appointed 1 May 2024)
P Pitale
(Appointed 1 May 2024 and resigned 7 February 2025)
C Skinner
(Resigned 1 May 2024)
J Sowa
(Resigned 1 May 2024)
A Templeman
(Appointed 7 February 2025)
Secretary
JTC (UK) Limited
Company number
04798223
Registered office
3 Forbury Place
23 Forbury Road
Reading
United Kingdom
RG1 3JH
Auditor
Azets Audit Services
Carnac Place
Cams Hall Estate
Fareham
Hampshire
United Kingdom
PO16 8UY
CLICK CONSULT LIMITED
CONTENTS
Page
Directors' report
1 - 2
Directors' responsibilities statement
3
Independent auditor's report
4 - 6
Statement of comprehensive income
7
Balance sheet
8
Statement of changes in equity
9
Notes to the financial statements
10 - 20
CLICK CONSULT LIMITED
DIRECTORS' REPORT
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 1 -
The directors present their annual report and financial statements for the period ended 31 December 2024.
Principal activities
The principal activity of the company continued to be that of the provision of digital and search marketing services, including Search Engine Optimisation (SEO) and Pay Per Click (PPC).
Results and dividends
The loss for the period, after taxation, amounted to £129,000 (year ended 31 March 2024: profit £95,000).
The directors do not recommend the payment of a final dividend for the period (year ended 31 March 2024: £nil).
Directors
The directors who held office during the period and up to the date of signature of the financial statements were as follows:
D Cumiskey
(Appointed 1 May 2024 and resigned 4 April 2025)
S Johns
(Appointed 1 May 2024)
P Pitale
(Appointed 1 May 2024 and resigned 7 February 2025)
C Skinner
(Resigned 1 May 2024)
J Sowa
(Resigned 1 May 2024)
A Templeman
(Appointed 7 February 2025)
Post reporting date events
There are no post reporting date events to disclose.
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.
Going concern
Notwithstanding net current assets of £9,000 as at 31 December 2024, a loss for the period then ended of £129,000 and cash inflows for the period of £124,000 the financial statements have been prepared on a going concern basis which the directors consider to be appropriate for the following reasons.
As part of the forecast process, the directors have prepared cash flow forecasts, covering a period in excess of 12 months from the date of approval of the financial statements and are satisfied that taking into account reasonably possible downsides, the company will have sufficient cash to meet its obligations as they fall due during this period.
After making enquiries, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual reports and accounts.
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
CLICK CONSULT LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 2 -
On behalf of the board
S Johns
Director
9 May 2025
CLICK CONSULT LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 3 -
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:
select suitable accounting policies and then apply them consistently;
make judgements and accounting estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
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.
CLICK CONSULT LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF CLICK CONSULT LIMITED
- 4 -
Opinion
We have audited the financial statements of Click Consult Limited (the 'company') for the period ended 31 December 2024 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 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its loss for the period then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.
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.
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:
the information given in the directors' report for the financial period for which the financial statements are prepared is consistent with the financial statements; and
the directors' report has been prepared in accordance with applicable legal requirements.
CLICK CONSULT LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF CLICK CONSULT LIMITED
- 5 -
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:
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption in preparing the directors' report and from the requirement to prepare a strategic report.
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.
CLICK CONSULT LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF CLICK CONSULT LIMITED
- 6 -
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:
Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;
Reviewing minutes of meetings of those charged with governance;
Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the company through enquiry and inspection;
Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias.
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.
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.
Zara Hogg FCA, BA (Hons)
Senior Statutory Auditor
For and on behalf of Azets Audit Services
12 May 2025
Chartered Accountants
Statutory Auditor
Carnac Place
Cams Hall Estate
Fareham
Hampshire
United Kingdom
PO16 8UY
CLICK CONSULT LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 7 -
Period
Year
ended
ended
31 December
31 March
2024
2024
£000
£000
Turnover
1,975
2,871
Cost of sales
(1,234)
(1,760)
Gross profit
741
1,111
Administrative expenses
(919)
(960)
Operating (loss)/profit
(178)
151
Interest receivable and similar income
21
(Loss)/profit before taxation
(157)
151
Tax on (loss)/profit
28
(56)
(Loss)/profit for the financial period
(129)
95
The profit and loss account has been prepared on the basis that all operations are continuing operations.
The notes on pages 10 to 20 form part of these financial statements.
CLICK CONSULT LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 8 -
31 December 2024
31 March 2024
Notes
£000
£000
£000
£000
Fixed assets
Tangible assets
5
47
Current assets
Debtors
6
851
1,001
Cash at bank and in hand
375
251
1,226
1,252
Creditors: amounts falling due within one year
7
(1,217)
(1,161)
Net current assets
9
91
Net assets
9
138
Capital and reserves
Called up share capital
1
1
Share based payment reserve
62
Profit and loss reserves
8
75
Total equity
9
138
The notes on pages 10 to 20 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 9 May 2025 and are signed on its behalf by:
S Johns
Director
Company Registration No. 04798223
CLICK CONSULT LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 9 -
Share capital
Share based payment reserve
Profit and loss reserves
Total
Notes
£000
£000
£000
£000
Balance at 1 April 2023
1
-
1,980
1,981
Year ended 31 March 2024:
Profit and total comprehensive income for the year
-
-
95
95
Dividends
-
-
(2,000)
(2,000)
Share based payment expense
-
62
-
62
Balance at 31 March 2024
1
62
75
138
Period ended 31 December 2024:
Loss and total comprehensive income for the period
-
-
(129)
(129)
Share based payment
10
-
(62)
62
-
Balance at 31 December 2024
1
-
8
9
The notes on pages 10 to 20 form part of these financial statements.
CLICK CONSULT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 10 -
1
Accounting policies
Company information
Click Consult Limited is a private company limited by shares incorporated and domiciled in England and Wales. The registered office is 3 Forbury Place, 23 Forbury Road, Reading, United Kingdom, RG1 3JH.
1.1
Reporting period
These accounts cover a shortened period of 9 months to align the Company’s financial period-end with that of other group companies on 31 December 2024. Consequently, the comparative figures are not entirely comparable.
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 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 £000.
The financial statements have been prepared under the historical cost convention.
At the balance sheet date, the Company’s ultimate parent undertaking IQVIA Holdings Inc. includes the Company in its consolidated financial statements. The consolidated financial statements of IQVIA Holdings Inc. are prepared in accordance with Financial Reporting Standard 102 and are available for the public and may be obtained from 251 Little Falls Drive, Wilmington, Delaware, 19808 United States. In preparing these financial statements, the company is considered to be a qualifying entity (for the purpose of FRS) and has applied the exemptions available under FRS 102 in respect of the following disclosures:
Cash Flow Statement and related notes;
Key Management Personnel compensation;
Disclosure of related party transactions between wholly owned subsidiaries of IQVIA Holdings Inc; and
International tax reform - Pillar Two model rules.
As the consolidated financial statements of ultimate parent undertaking include the equivalent disclosures, the Company has also taken the exemptions under FRS 102 available in respect of the following disclosure:
The disclosure required by FRS 102.11 Basic Financial Instruments and FRS 102.12 Other Financial Instrument Issues in respect of financial instruments not falling within the fair value accounting rules of Paragraph 36 (4) of Schedule 1.
100% of the parent company's capital was purchased by IQVIA Ltd on 2 May 2024 and IQVIA Holdings Inc. became the ultimate parent undertaking on that date.
The following principal accounting policies have, unless otherwise stated, been applied consistently to all periods in these financial statements.
CLICK CONSULT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 11 -
1.3
Going concern
Notwithstanding net current assets of £9,000 as at 31 December 2024, a loss for the period then ended of £129,000 and cash inflows for the period of £124,000 the financial statements have been prepared on a going concern basis which the directors consider to be appropriate for the following reasons.
As part of the forecast process, the directors have prepared cash flow forecasts, covering a period in excess of 12 months from the date of approval of the financial statements and are satisfied that taking into account reasonably possible downsides, the company will have sufficient cash to meet its obligations as they fall due during this period.
After making enquiries, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual reports and accounts.
1.4
Turnover
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 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 cost incurred and the costs to complete the contract can be measured reliably.
Judgement is required when determining the stage of completion of a contract with customer. Further detail on the method applying this judgement is included in note 2.
1.5
Intangible fixed assets other than goodwill
Intangible assets are initially recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Staff costs associated with development work undertaken are capitalised in the year they are incurred and amortised together with the associated development costs.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives, using the straight line method, on the following bases:
Computer software
10 years
Development costs
3 years
1.6
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any 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.
CLICK CONSULT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 12 -
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives, using the straight line method, on the following bases:
Fixtures and fittings
10 years
Computer equipment
3 years
The expected useful lives of the assets to the business are reassessed periodically in the light of experience. Subsequent costs are included in the asset’s carrying amount or recognised as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the company and the cost of the item can be measured reliably. The carrying amount of the replaced part is derecognised. All other repairs and maintenance are charged to the income statement during the financial period in which they are incurred. An asset’s carrying amount is written down immediately to its recoverable amount if the asset’s carrying amount is greater than its estimated recoverable amount.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
During the period, the company revised its depreciation policy to align with that of its new ultimate parent company. The change represents a change in accounting estimate and has been applied prospectively from 2 May 2024. The change has not had a material impact on the depreciation charge in the period.
1.7
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets 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.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. 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.
1.8
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
CLICK CONSULT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 13 -
1.9
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.
Basic financial assets
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 assets classified as receivable within one year are not amortised.
Classification of financial liabilities
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.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial instruments
Derecognition of financial assets
Financial assets are derecognised when their contractual future cash flows expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Company’s contractual obligations expire or are discharged or cancelled.
1.10
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Equity dividends are recognised when they become legally payable. Interim dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
CLICK CONSULT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 14 -
1.11
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 period. 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 liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing 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.
In line with the July 2023 amendments to FRS 102, the company does not recognise deferred tax assets or liabilities arising from the OECD Pillar Two global minimum tax rules, due to the temporary exception under FRS102.
1.12
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 stock 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.
1.13
Retirement benefits
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.
CLICK CONSULT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 15 -
1.14
Share-based payments
Where share options are awarded to employees, the fair value of the options at the date of grant is charged to profit or loss over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each balance sheet date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to achieve a market vesting condition.
The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one or other of the parties (such as the Company keeping the scheme open or the employee maintaining any contributions required by the scheme).
Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to profit or loss over the remaining vesting period.
Where equity instruments are granted to persons other than employees, profit or loss is charged with fair value of goods and services received.
1.15
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
1.16
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
CLICK CONSULT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 16 -
2
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affects the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the period. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.
Bad debt provision
The Company establishes provisions based on reasonable estimates regarding the likelihood of non-payment by clients. Management estimation is required in deciding to make such provisions and these decisions are based on various factors, such as the age of debts, the Company’s previous experience of bad debts, the level of communication with the client and the client’s solvency. The amount of such provisions is based on the specific debts due by an individual client and the anticipated likelihood of non-payment.
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.
The stage of completion is typically measured with reference to the completion of a physical proportion of the contract work or the completion of a proportion of the service contract. Where services are performed by an indeterminate number of acts over a specified period of time, the Company recognises revenue on a straight-line basis over the specified period unless there is evidence that some other method better represents the stage of completion.
3
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
Period
Year
ended
ended
31 December
31 March
2024
2024
Number
Number
45
45
CLICK CONSULT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 17 -
4
Intangible fixed assets
Computer software
Development costs
Total
£000
£000
£000
Cost
At 1 April 2024 and 31 December 2024
45
292
337
Amortisation and impairment
At 1 April 2024 and 31 December 2024
45
292
337
Carrying amount
At 31 December 2024
At 31 March 2024
5
Tangible fixed assets
Fixtures and fittings
Computer equipment
Total
£000
£000
£000
Cost
At 1 April 2024
209
353
562
Additions
2
2
At 31 December 2024
209
355
564
Depreciation and impairment
At 1 April 2024
189
326
515
Depreciation charged in the period
4
17
21
Impairment losses
16
12
28
At 31 December 2024
209
355
564
Carrying amount
At 31 December 2024
At 31 March 2024
20
27
47
CLICK CONSULT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 18 -
6
Debtors
31 December
31 March
2024
2024
Amounts falling due within one year:
£000
£000
Trade debtors
391
449
Amounts owed by group undertakings
415
474
Prepayments and accrued income
45
78
851
1,001
7
Creditors: amounts falling due within one year
31 December
31 March
2024
2024
£000
£000
Trade creditors
152
324
Corporation tax
30
38
Other taxation and social security
288
119
Other creditors
467
391
Accruals and deferred income
280
289
1,217
1,161
8
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
31 December
31 March
2024
2024
£000
£000
Within one year
66
53
Between two and five years
103
125
169
178
CLICK CONSULT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 19 -
9
Related party transactions
Transactions with related parties
During the period the company entered into the following transactions with related parties:
Name of related party
Nature of relationship
1HQ Limited
common control held by ultimate parent
Description of
Income
Payments
transaction
31 December
31 March
31 December
31 March
2024
2024
2024
2024
£000
£000
£000
£000
1HQ Limited
Sales to and expenses from
2
34
Balances with related parties
Amounts owed by
Amounts owed to
related parties
related parties
31 December
31 March
31 December
31 March
2024
2024
2024
2024
£000
£000
£000
£000
1HQ Limited
N/A
30
N/A
-
Other information
As permitted under FRS 102 disclosure exemption paragraph 33.1a, transactions and balances with wholly owned fellow group companies of IQVIA Holdings Inc. have not been disclosed in these financial statements.
1HQ Limited was owned 70% by Ceuta Holdings Limited until 2 May 2024. On this date Ceuta Holdings Limited acquired the remaining 30% shareholding. Transactions with 1HQ Limited have been disclosed to 2 May 2024 after which point the above exemption applies.
CLICK CONSULT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 20 -
10
Share-based payment transactions
On 16th July 2023, the Group issued 3,000 D2 ordinary shares – 2,000 to five senior members of the management team, one of whom is a Director of Click Consult Limited, and 1,000 as part of an EBT scheme – designed to accelerate the growth of the Group. The shares have the right to participate in the proceeds of sale of the Group once they exceed a hurdle of £70m. The Group have assessed that the D2 Shares constitute a share-based payment under Section 26 of FRS 102 and as such have calculated the fair value of the scheme using a Black-Scholes valuation with appropriate inputs.
The number and weighted average exercise price of share options issued by the company are as follows:
Number of share options
Weighted average exercise price
2024
2024
2024
2024
Number
Number
£000
£000
Outstanding at 1 April 2024
200
2.39
Granted
200
2.39
Expired
2.39
Outstanding at 31 December 2024
200
2.39
2.39
Exercisable at 31 December 2024
Liabilities and expenses
The Company has recognised an expense of £nil (year ended 31 March 2024: £62,000) in its profit and loss account for the period.
Share based payment arrangements with a total recognised expense of £62,000 expired unvested during the period, following the parent company's acquisition by IQVIA Ltd, which occurred before the end of the vesting period. The previously recognised expense has been credited to profit and loss reserves, as no replacement awards were granted.
11
Ultimate controlling party
At the balance sheet date, the Company is a 100% subsidiary undertaking of Ceuta Holdings Limited. Ceuta Holdings Limited was acquired by IQVIA Ltd on 2 May 2024. At that date IQVIA Holdings Inc became the ultimate controlling party.
IQVIA Holdings Inc. is the ultimate controlling party as at the date of approval of these financial statements. This company is incorporated in Delaware, United States of America.
At the balance sheet date, the largest and smallest group in which the results of the Company are consolidated is that headed by IQVIA Holdings Inc., registered at 251 Little Falls Drive, Wilmington, Delaware, 19808 United States. IQVIA Holdings Inc. financial statements are publicly available and may be obtained the company’s website www.iqvia.com.
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