Caseware UK (AP4) 2024.0.164 2024.0.164 2025-05-142025-05-2872023-11-01falseThe principal activity of the company is pharmaceutical clinical trial management.6falsetruefalse 07798911 2023-11-01 2024-12-31 07798911 2022-11-01 2023-10-31 07798911 2024-12-31 07798911 2023-10-31 07798911 2022-11-01 07798911 c:PriorPeriodIncreaseDecrease 2023-11-01 2024-12-31 07798911 d:Director1 2023-11-01 2024-12-31 07798911 c:Buildings 2023-11-01 2024-12-31 07798911 c:Buildings 2024-12-31 07798911 c:Buildings 2023-10-31 07798911 c:Buildings c:OwnedOrFreeholdAssets 2023-11-01 2024-12-31 07798911 c:Buildings c:LongLeaseholdAssets 2023-11-01 2024-12-31 07798911 c:MotorVehicles 2023-11-01 2024-12-31 07798911 c:MotorVehicles 2024-12-31 07798911 c:MotorVehicles 2023-10-31 07798911 c:MotorVehicles c:OwnedOrFreeholdAssets 2023-11-01 2024-12-31 07798911 c:FurnitureFittings 2023-11-01 2024-12-31 07798911 c:FurnitureFittings 2024-12-31 07798911 c:FurnitureFittings 2023-10-31 07798911 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-11-01 2024-12-31 07798911 c:OfficeEquipment 2023-11-01 2024-12-31 07798911 c:ComputerEquipment 2023-11-01 2024-12-31 07798911 c:OtherPropertyPlantEquipment 2023-11-01 2024-12-31 07798911 c:OtherPropertyPlantEquipment 2024-12-31 07798911 c:OtherPropertyPlantEquipment 2023-10-31 07798911 c:OtherPropertyPlantEquipment c:OwnedOrFreeholdAssets 2023-11-01 2024-12-31 07798911 c:OwnedOrFreeholdAssets 2023-11-01 2024-12-31 07798911 c:CurrentFinancialInstruments 2024-12-31 07798911 c:CurrentFinancialInstruments 2023-10-31 07798911 c:Non-currentFinancialInstruments 2024-12-31 07798911 c:Non-currentFinancialInstruments 2023-10-31 07798911 c:CurrentFinancialInstruments c:WithinOneYear 2024-12-31 07798911 c:CurrentFinancialInstruments c:WithinOneYear 2023-10-31 07798911 c:Non-currentFinancialInstruments c:AfterOneYear 2024-12-31 07798911 c:Non-currentFinancialInstruments c:AfterOneYear 2023-10-31 07798911 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2024-12-31 07798911 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2023-10-31 07798911 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2024-12-31 07798911 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2023-10-31 07798911 c:ShareCapital 2024-12-31 07798911 c:ShareCapital 2023-10-31 07798911 c:ShareCapital 2022-11-01 07798911 c:RetainedEarningsAccumulatedLosses 2023-11-01 2024-12-31 07798911 c:RetainedEarningsAccumulatedLosses 2024-12-31 07798911 c:RetainedEarningsAccumulatedLosses c:PriorPeriodIncreaseDecrease 2023-11-01 2024-12-31 07798911 c:RetainedEarningsAccumulatedLosses 2022-11-01 2023-10-31 07798911 c:RetainedEarningsAccumulatedLosses 2023-10-31 07798911 c:RetainedEarningsAccumulatedLosses 2022-11-01 07798911 c:AcceleratedTaxDepreciationDeferredTax 2024-12-31 07798911 c:AcceleratedTaxDepreciationDeferredTax 2023-10-31 07798911 c:TaxLossesCarry-forwardsDeferredTax 2024-12-31 07798911 c:TaxLossesCarry-forwardsDeferredTax 2023-10-31 07798911 d:OrdinaryShareClass1 2023-11-01 2024-12-31 07798911 d:OrdinaryShareClass1 2024-12-31 07798911 d:OrdinaryShareClass1 2023-10-31 07798911 d:OrdinaryShareClass2 2023-11-01 2024-12-31 07798911 d:OrdinaryShareClass2 2024-12-31 07798911 d:OrdinaryShareClass2 2023-10-31 07798911 d:OrdinaryShareClass3 2023-11-01 2024-12-31 07798911 d:OrdinaryShareClass3 2024-12-31 07798911 d:OrdinaryShareClass3 2023-10-31 07798911 d:FRS102 2023-11-01 2024-12-31 07798911 d:Audited 2023-11-01 2024-12-31 07798911 d:FullAccounts 2023-11-01 2024-12-31 07798911 d:PrivateLimitedCompanyLtd 2023-11-01 2024-12-31 07798911 c:WithinOneYear 2024-12-31 07798911 c:WithinOneYear 2023-10-31 07798911 c:BetweenOneFiveYears 2024-12-31 07798911 c:BetweenOneFiveYears 2023-10-31 07798911 d:SmallCompaniesRegimeForAccounts 2023-11-01 2024-12-31 07798911 2 2023-11-01 2024-12-31 07798911 e:PoundSterling 2023-11-01 2024-12-31 07798911 c:ShareCapital c:PriorPeriodErrorIncreaseDecrease 2023-11-01 2024-12-31 07798911 c:RetainedEarningsAccumulatedLosses c:PreviouslyStatedAmount 2023-10-31 07798911 c:PreviouslyStatedAmount 2023-10-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 07798911










Clinicology Ltd.










Financial statements

Information for filing with the registrar

For the period ended 31 December 2024

 
Clinicology Ltd.
Registered number: 07798911

Balance sheet
As at 31 December 2024

31 December
As restated 31 October
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
15,465
82,190

  
15,465
82,190

Current assets
  

Debtors: amounts falling due within one year
 6 
158,854
225,059

Cash at bank and in hand
  
371,908
958,567

  
530,762
1,183,626

Creditors: amounts falling due within one year
 7 
(159,818)
(851,410)

Net current assets
  
 
 
370,944
 
 
332,216

Total assets less current liabilities
  
386,409
414,406

Creditors: amounts falling due after more than one year
 8 
-
(11,504)

Provisions for liabilities
  

Deferred tax
 9 
(2,606)
(8,606)

  
 
 
(2,606)
 
 
(8,606)

Net assets
  
383,803
394,296


Capital and reserves
  

Called up share capital 
 10 
4
4

Profit and loss account
  
383,799
394,292

  
383,803
394,296


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 May 2025.


................................................
M Thomas
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 1

 
Clinicology Ltd.
 

Statement of changes in equity
For the period ended 31 December 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 November 2022
4
398,867
398,871



Profit for the year - restated
-
294,929
294,929

Dividends
-
(299,504)
(299,504)



At 1 November 2023 (as previously stated)
4
363,212
363,216

Prior year adjustment
-
31,080
31,080


At 1 November 2023 (as restated)
4
394,292
394,296



Profit for the period
-
24,507
24,507

Dividends
-
(35,000)
(35,000)


At 31 December 2024
4
383,799
383,803


The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
Clinicology Ltd.
 

 
Notes to the financial statements
For the period ended 31 December 2024

1.


General information

The company is a private company limited by share capital, incorporated in England and Wales. 
The address of its registered office is:
The Annexe Saxon House
Castle Street
Guildford
Surrey
GU1 3UW 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are presented in sterling, which is the functional currency of the company, and rounded to the nearest £1.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

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

 
2.3

Tangible fixed assets

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

Page 3

 
Clinicology Ltd.
 

 
Notes to the financial statements
For the period ended 31 December 2024

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

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

Depreciation is provided on the following basis:

Leasehold improvements
-
25% / 33%
Furniture, fittings and equipment
-
10% / 20% / 25% / 33%
Motor vehicles
-
25%
Other fixed assets
-
25%

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

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

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
 
 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 4

 
Clinicology Ltd.
 

 
Notes to the financial statements
For the period ended 31 December 2024

2.Accounting policies (continued)

 
2.10

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

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

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

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

All foreign exchange gains and losses are presented in the profit or loss within 'administrative expenses'.

 
2.11

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.12

Interest income

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

 
2.13

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

Page 5

 
Clinicology Ltd.
 

 
Notes to the financial statements
For the period ended 31 December 2024

2.Accounting policies (continued)

 
2.14

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.



3.


Judgments in applying accounting policies and key sources of estimation uncertainty

Management have not applied any significant judgement or estimates in the preparation of  these financial statements.


4.


Employees

The average monthly number of employees, including directors, during the period was 7 (2023 - 6).

Page 6

 
Clinicology Ltd.
 

 
Notes to the financial statements
For the period ended 31 December 2024

5.


Tangible fixed assets







Leasehold improvements
Motor vehicles
Furniture, fittings and equipment
Other fixed assets
Total

£
£
£
£
£



Cost or valuation


At 1 November 2023
35,345
75,482
36,785
4,332
151,944


Additions
4,739
-
5,352
-
10,091


Disposals
(35,345)
(75,482)
(16,092)
(4,332)
(131,251)



At 31 December 2024

4,739
-
26,045
-
30,784



Depreciation


At 1 November 2023
7,836
39,144
21,511
1,263
69,754


Charge for the period on owned assets
4,309
4,254
6,405
271
15,239


Disposals
(11,948)
(43,398)
(12,794)
(1,534)
(69,674)



At 31 December 2024

197
-
15,122
-
15,319



Net book value



At 31 December 2024
4,542
-
10,923
-
15,465



At 31 October 2023
27,509
36,338
15,274
3,069
82,190


6.


Debtors

31 December
As restated
31 October
2024
2023
£
£


Trade debtors
46,844
163,538

Amounts owed by group undertakings
70,798
-

Other debtors
21,171
6,296

Prepayments
20,041
33,109

Accrued income
-
22,116

158,854
225,059


Page 7

 
Clinicology Ltd.
 

 
Notes to the financial statements
For the period ended 31 December 2024

7.


Creditors: Amounts falling due within one year

31 December
As restated
31 October
2024
2023
£
£

Loans and borrowings
-
5,539

Trade creditors
59,904
37,459

Corporation tax
31,417
82,809

Taxation and social security
13,219
54,731

Other creditors
1,639
1,243

Accruals
23,840
151,274

Payments received on account
29,799
518,355

159,818
851,410



8.


Creditors: Amounts falling due after more than one year

31 December
31 October
2024
2023
£
£

Bank loans
-
5,824

Loans and borrowings
-
5,680

-
11,504


Page 8

 
Clinicology Ltd.
 

 
Notes to the financial statements
For the period ended 31 December 2024

9.


Deferred taxation






2024


£






At beginning of year
8,606


Released to profit or loss
(6,000)



At end of year
2,606

The provision for deferred taxation is made up as follows:

31 December
31 October
2024
2023
£
£


Accelerated capital allowances
2,758
8,675

Tax losses carried forward
(152)
(69)

2,606
8,606


10.


Share capital

31 December
31 October
2024
2023
£
£
Allotted, called up and fully paid



2 (2023 - 2) Ordinary shares of £1.00 each
2
2
1 (2023 - 1) Ordinary A share of £1.00
1
1
1 (2023 - 1) Ordinary B share of £1.00
1
1

4

4


Page 9

 
Clinicology Ltd.
 

 
Notes to the financial statements
For the period ended 31 December 2024

11.


Loans and borrowings


Analysis of the maturity of loans is given below:


31 December
31 October
2024
2023
£
£

Amounts falling due within one year

Other loans
-
5,539

Amounts falling due 1-2 years

Other loans
-
5,680

Amounts falling due 2-5 years

Bank loans
-
5,824


-
17,043



12.


Prior year adjustment

During the current year, and after finalising the financial statements for the year ended 31 October 2023, the company was informed that a client, who contracted the company’s services for two large studies, had made the strategic decision to stop both studies and run the studies in China.  The nature of services performed by CROs in clinical trials is such that a reconciliation of work performed to date and services invoiced must be undertaken when a study is stopped.  This identified over accrued revenue and cost of sales in the financial statements for the year ended 31 October 2023. This resulted in an overstatement of revenue and an overstatement of subcontracted costs.
The financial statements for the year ended 31 October 2023 have been restated to correct this error. The impact of the correction on the comparative figures is as follows:
 
Statement of Financial Position as at 31 October 2023:
 
Debtors: amounts falling due within one year: Previously reported £392,863; Restated £225,059
Creditors: amounts falling due within one year: Previously reported £1,050,294; Restated £851,410
Retained Earnings: Previously reported £363,212; Restated £394,292
 
Statement of Comprehensive Income for the year ended 31 October 2023:
 
Turnover: Previously reported £1,858,220; Restated £1,690,416
Cost of sales: Previously reported £1,206,813; Restated £1,007,929
Profit for the year: Previously reported £263,849; Restated £294,929
 
The correction of this error has been applied retrospectively, and the comparative amounts for the year ended 31 October 2023 have been restated accordingly.

Page 10

 
Clinicology Ltd.
 

 
Notes to the financial statements
For the period ended 31 December 2024

13.


Commitments under operating leases

At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

31 December
31 October
2024
2023
£
£


Not later than 1 year
26,500
-

Later than 1 year and not later than 5 years
23,451
-

49,951
-

For the period ended 31 December 2024, the Company had made lease payments relating to operating leases of £3,049 (2023 - £Nil).


14.


Related party transactions

The Company has taken the exemption under FRS 102, Section 33 Related Party Disclosures paragraph 33.1A, whereby the company is not required to disclose transactions with other wholly owned subsidiaries and members of the group.


15.


Controlling party

The ultimate controlling party is FGK Clinical Research GmbH. The registered office address of the parent is FGK Clinical Research GmbH, Heimeranstrasse 35, 80339 Munich, Germany.


16.


Auditor's information

The auditor's report on the financial statements for the period ended 31 December 2024 was unqualified.

The audit report was signed on 28 May 2025 by Allan Pinner FCCA (Senior statutory auditor) on behalf of Kreston Reeves LLP.


Page 11