Drug Safety Solutions Limited 04486383 false 2024-04-01 2024-12-31 2024-12-31 The principal activity of the company is Other professional, scientific and technical activities not elsewhere classified Digita Accounts Production Advanced 6.30.9574.0 true 04486383 2024-04-01 2024-12-31 04486383 2024-12-31 04486383 bus:OrdinaryShareClass1 2024-12-31 04486383 core:CurrentFinancialInstruments 2024-12-31 04486383 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 04486383 core:Non-currentFinancialInstruments 2024-12-31 04486383 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 04486383 core:FurnitureFittingsToolsEquipment 2024-12-31 04486383 bus:SmallEntities 2024-04-01 2024-12-31 04486383 bus:AuditExemptWithAccountantsReport 2024-04-01 2024-12-31 04486383 bus:FilletedAccounts 2024-04-01 2024-12-31 04486383 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2024-12-31 04486383 bus:RegisteredOffice 2024-04-01 2024-12-31 04486383 bus:Director1 2024-04-01 2024-12-31 04486383 bus:OrdinaryShareClass1 2024-04-01 2024-12-31 04486383 bus:PrivateLimitedCompanyLtd 2024-04-01 2024-12-31 04486383 core:FurnitureFittings 2024-04-01 2024-12-31 04486383 core:FurnitureFittingsToolsEquipment 2024-04-01 2024-12-31 04486383 countries:EnglandWales 2024-04-01 2024-12-31 04486383 2024-03-31 04486383 core:FurnitureFittingsToolsEquipment 2024-03-31 04486383 2023-04-01 2024-03-31 04486383 2024-03-31 04486383 bus:OrdinaryShareClass1 2024-03-31 04486383 core:CurrentFinancialInstruments 2024-03-31 04486383 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 04486383 core:Non-currentFinancialInstruments 2024-03-31 04486383 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 04486383 core:FurnitureFittingsToolsEquipment 2024-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04486383

Drug Safety Solutions Limited

Unaudited Filleted Financial Statements

for the Period from 1 April 2024 to 31 December 2024

 

Drug Safety Solutions Limited

(Registration number: 04486383)
Balance Sheet as at 31 December 2024

Note

2024
£

2024
£

Fixed assets

 

Tangible assets

4

4,630

6,913

Current assets

 

Debtors

5

529,780

661,214

Cash at bank and in hand

 

883,834

1,738,161

 

1,413,614

2,399,375

Creditors: Amounts falling due within one year

6

(424,039)

(464,476)

Net current assets

 

989,575

1,934,899

Total assets less current liabilities

 

994,205

1,941,812

Creditors: Amounts falling due after more than one year

6

(345,844)

(206,553)

Provisions for liabilities

(1,158)

(1,728)

Net assets

 

647,203

1,733,531

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

647,103

1,733,431

Shareholders' funds

 

647,203

1,733,531

For the financial period ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 July 2025 and signed on its behalf by:
 

 

Drug Safety Solutions Limited

(Registration number: 04486383)
Balance Sheet as at 31 December 2024

.........................................
Dr Irfan Ahmad
Director

 

Drug Safety Solutions Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 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 Old Workshop
12B Kennerleys Lane
Wilmslow
Cheshire
SK9 5EQ
England

These financial statements were authorised for issue by the Board on 25 July 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Drug Safety Solutions Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 31 December 2024

Tax

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

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & Fittings

15% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Drug Safety Solutions Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 31 December 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 7 (2024 - 9).

 

Drug Safety Solutions Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 31 December 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2024

38,832

38,832

At 31 December 2024

38,832

38,832

Depreciation

At 1 April 2024

31,919

31,919

Charge for the period

2,283

2,283

At 31 December 2024

34,202

34,202

Carrying amount

At 31 December 2024

4,630

4,630

At 31 March 2024

6,913

6,913

5

Debtors

Current

2024
£

2024
£

Trade debtors

227,240

302,242

Prepayments

18,223

10,554

Other debtors

284,317

348,418

 

529,780

661,214

6

Creditors

Creditors: amounts falling due within one year

 

Drug Safety Solutions Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 31 December 2024

Note

2024
£

2024
£

Due within one year

 

Loans and borrowings

8

303,228

246,226

Trade creditors

 

48,681

48,073

Taxation and social security

 

44,808

128,678

Accruals and deferred income

 

21,205

36,074

Other creditors

 

6,117

5,425

 

424,039

464,476

 

Drug Safety Solutions Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 31 December 2024

Creditors: amounts falling due after more than one year

Note

2024
£

2024
£

Due after one year

 

Loans and borrowings

8

345,844

206,553

7

Share capital

Allotted, called up and fully paid shares

2024

2024

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2024
£

Bank borrowings

74,092

206,553

Other borrowings

271,752

-

345,844

206,553

Current loans and borrowings

2024
£

2024
£

Bank borrowings

212,964

246,226

Other borrowings

90,264

-

303,228

246,226