Caseware UK (AP4) 2023.0.135 2023.0.135 Management is responsible for the preparation of the financial statements which give a true and fair view in accordance with United Kingdom Generally Accepted Accounting Practice, including FRS102 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, management is 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 management either intend to liquidate the Company or to cease operations, or has no realistic alternative but to do so. Those charged with governance are responsible for overseeing the Company's financial reporting process. The objectives of an auditor 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 their 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 an auditor's responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report. Explanation as to what extent 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, to detect material misstatements in respect of irregularities, including fraud. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatement in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with ISAs (UK). The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below: Based on our understanding of the Company and industry, we identified that the principal risks of non-compliance with laws and regulations related to compliance with data protection and Employment laws, Health and Safety Regulation and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulation that have a direct impact on the preparation of the financial statements such as Companies Act 2006 and UK tax legislation. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to manipulate financial performance and management bias through judgements and assumptions in significant accounting estimates, in particular in relation to significant one-off or unusual transactions. We apply professional scepticism hrough the audit to consider potential deliberate omission or concealment of significant transactions, or incomplete/inaccurate disclosures in the financial statements. In response to these principal risks, our audit procedures included but were not limited to: inquiries of management and board on the policies and procedures in place regarding compliance with laws and regulations, including consideration of known or suspected instances of non-compliance and whether they have knowledge of any actual, suspected or alleged fraud; inspection of the Company’s legal correspondence and review of minutes of board meetings during the financial year to corroborate inquiries made; gaining an understanding of the internal controls established to mitigate risk related to fraud; discussion amongst the engagement team in relation to the identified laws and regulations and regarding the risk of fraud, and remaining alert to any indications of non-compliance or opportunities for fraudulent manipulation of financial statements throughout the audit; identifying and testing journal entries to address the risk of inappropriate journals and management override of controls; designing audit procedures to incorporate unpredictability around the nature, timing or extent of our testing; challenging assumptions and judgements made by management in their significant accounting estimates, including useful lives of tangible and intangible assets, impairment assessment of non financial and financial assets; review of the financial statements disclosures to underlying supporting documentation and inquiries of management. The primary responsibility for the prevention and detection of irregularities including fraud rests with those charged with governance and management. As with any audit, there remains a risk of non-detection or irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or override of internal controls.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. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.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. 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.falsetrue52024-01-01false20truefalse 07504238 2024-01-01 2024-12-31 07504238 2023-01-01 2023-12-31 07504238 2024-12-31 07504238 2023-12-31 07504238 2023-01-01 07504238 1 2024-01-01 2024-12-31 07504238 d:Director1 2024-01-01 2024-12-31 07504238 d:Director1 2024-12-31 07504238 d:Director2 2024-01-01 2024-12-31 07504238 d:Director2 2024-12-31 07504238 d:Director3 2024-01-01 2024-12-31 07504238 d:Director3 2024-12-31 07504238 d:Director4 2024-01-01 2024-12-31 07504238 d:Director4 2024-12-31 07504238 d:Director5 2024-01-01 2024-12-31 07504238 d:Director5 2024-12-31 07504238 d:Director6 2024-01-01 2024-12-31 07504238 d:Director6 2024-12-31 07504238 d:RegisteredOffice 2024-01-01 2024-12-31 07504238 c:MotorVehicles 2024-01-01 2024-12-31 07504238 c:ComputerEquipment 2024-01-01 2024-12-31 07504238 c:ComputerEquipment 2024-12-31 07504238 c:ComputerEquipment 2023-12-31 07504238 c:ComputerEquipment c:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 07504238 c:CurrentFinancialInstruments 2024-12-31 07504238 c:CurrentFinancialInstruments 2023-12-31 07504238 c:ReportableOperatingSegment1 2024-01-01 2024-12-31 07504238 c:ReportableOperatingSegment1 2023-01-01 2023-12-31 07504238 c:ReportableOperatingSegment3 2024-01-01 2024-12-31 07504238 c:ReportableOperatingSegment3 2023-01-01 2023-12-31 07504238 c:UKTax 2024-01-01 2024-12-31 07504238 c:UKTax 2023-01-01 2023-12-31 07504238 c:ShareCapital 2024-01-01 2024-12-31 07504238 c:ShareCapital 2024-12-31 07504238 c:ShareCapital 2023-12-31 07504238 c:ShareCapital 2023-01-01 07504238 c:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 07504238 c:RetainedEarningsAccumulatedLosses 2024-12-31 07504238 c:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 07504238 c:RetainedEarningsAccumulatedLosses 2023-12-31 07504238 c:RetainedEarningsAccumulatedLosses 2023-01-01 07504238 d:OrdinaryShareClass1 2024-01-01 2024-12-31 07504238 d:OrdinaryShareClass1 2023-01-01 2023-12-31 07504238 d:OrdinaryShareClass1 2024-12-31 07504238 d:OrdinaryShareClass1 2023-12-31 07504238 d:FRS102 2024-01-01 2024-12-31 07504238 d:Audited 2024-01-01 2024-12-31 07504238 d:FullAccounts 2024-01-01 2024-12-31 07504238 d:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 07504238 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:shares xbrli:pure

img29b4.png






Financial Statements
J & D Consulting Limited
For the year ended 31 December 2024





































Registered number: 07504238

 
J & D Consulting Limited
 

Company Information


Directors
Vicky Harris (appointed 3 January 2024)
Morgan, Kevin Stephen (appointed 3 January 2024, resigned 20 December 2024)
Rabanal, Roberto Simon (appointed 3 January 2024, resigned 31 July 2024)
Randiga, Levine Chris (appointed 3 January 2024, resigned 4 February 2025)
James, David Brian (resigned 3 January 2024)
McCurry, Kevin James (appointed 4 February 2025)




Registered number
07504238



Registered office
3 More London Riverside
London

United Kingdom

SE1 2AQ




Independent auditor
Grant Thornton
Chartered Accountants & Statutory Auditors

13-18 City Quay

Dublin 2

Ireland





 
J & D Consulting Limited
 

Contents



Page
Directors' report
1 - 2
Directors' responsibilities statement
3
Independent auditor's report
4 - 7
Statement of comprehensive income
8
Statement of financial position
9
Statement of changes in equity
10
Notes to the financial statements
11 - 19


 
J & D Consulting Limited
 
 
Directors' report
For the year ended 31 December 2024

The directors present their report and the financial statements for the year ended 31 December 2024.

Principal activity

The principal activity of the Company is the provision of forecasting solutions for the pharmaceutical industry.

Results and dividends

The loss for the year, after taxation, amounted to £821,288 (2023 Unaudited: profit £837,896).

No dividends were paid during the financial year or proposed at the end of the financial year.

Directors

The directors who served during the year were:

Vicky Harris (appointed 3 January 2024)
Morgan, Kevin Stephen (appointed 3 January 2024, resigned 20 December 2024)
Rabanal, Roberto Simon (appointed 3 January 2024, resigned 31 July 2024)
Randiga, Levine Chris (appointed 3 January 2024, resigned 4 February 2025)
James, David Brian (resigned 3 January 2024)

Political contributions

During the financial year, the Company made no political contributions.

Disclosure of information to auditor

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company's auditor is unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditor is aware of that information.

Post balance sheet events

There have been no significant post balance sheet events that require disclosure in the financial statements.

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.

Directors’ and Officer’s Liability

The Company maintains appropriate insurance to cover directors’ and officers’ liability in respect of all of the Company’s directors. This was in force throughout the financial year and remains in force. This insurance does not provide cover where a director has acted fraudulently or dishonestly.

Page 1

 
J & D Consulting Limited
 

Directors' report (continued)
For the year ended 31 December 2024

Energy and carbon reporting

The Company does not meet or exceed two of the three criteria necessary to be deemed a large company that is subject to the energy and carbon reporting obligations under The Companies (Directors’ Report) and Limited Liability Partnerships (Energy and Carbon Report) Regulations 2018. The Company is, however, part of a larger group where environmental and sustainability initiatives are a key part of how it does business. To the extent other members of the Group in the United Kingdom are subject to these energy and carbon reporting obligations, appropriate information will be included in its or their annual Directors Report(s). 

Going concern

The accompanying financial statements have been prepared on the assumption that the Company will continue as a going concern. 

Caerus PikCo S.à.r.l. and its subsidiaries ("the Group") performed forecasts for 12 months from the signing of these financials and noted resilience in the financials including revenues and the cash position, through the period to date. 
Based on these forecasts and the support of its ultimate parent company, the directors are satisfied that the company has adequate resources to continue in operational existence for the foreseeable future. Further, the company's ultimate parent company, Caerus PikCo S.à.r.l., has committed to provide immediate financial support in case of financial difficulties of the company. Accordingly, the directors continue to adopt the going concern basis in preparing these financial statements.

This report was approved by the board and signed on its behalf.
 


Vicky Harris
Director

Date: 14 August 2025

Page 2

 
J & D Consulting Limited
 

Directors' responsibilities statement
For the year ended 31 December 2024

The directors are responsible for preparing the Directors' 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 for the Company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

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 to enable them to ensure that the financial statements comply with the Companies Act 2006They 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.

On behalf of the board:

Vicky Harris
Director

Date: 14 August 2025
Page 3

 
 
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Independent auditor's report to the members of J & D Consulting Limited
 

Opinion


We have audited the financial statements of J & D Consulting Limited, which comprise the Statement of comprehensive income, the Statement of financial position, the Statement of changes in equity for the year ended 31 December 2024, and the related notes to the financial statements, including a summary of  significant accounting policies.  

The financial reporting framework that has been applied in the 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, J & D Consulting Limited's financial statements:


give a true and fair view in accordance with United Kingdom Generally Accepted Accounting Practice of the assets, liabilities and financial position of the Company as at 31 December 2024 and of its financial performance for the year then ended; and


have been prepared in accordance with the requirements of the Companies Act 2006.


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 'Responsibilities of the auditor 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 United Kingdom, namely the FRC's Ethical Standard and the ethical pronouncements established by Chartered Accountants Ireland, applied as determined to be appropriate in the circumstances of the entity. 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 the date 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.



Page 4

 
 
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Independent auditor's report to the members of J & D Consulting Limited (continued)

Other matter


For the financial year ended 31 December 2023, the company was not required to obtain audited financial statements as the company qualified as small under company law and availed of the small company audit exemption. Therefore, the corresponding figures have not been audited.



Other information


Other information comprises the information included in the Annual Report, other than the financial statements and our Auditor's report thereon, including the Directors' report. The directors are responsible for the other information. Our opinion on the financial statements does not cover the information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.


In connection with our audit of the financial statementsour 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 audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies in the financial statements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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 the audit:
the information given in the Directors' report for the year 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. 

Matters on which we are required to report by exception


In the light of the knowledge and understanding of the company and its environment we have 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 take advantage of the small companies' exemptions from the  requirement to prepare a strategic report or in preparing the Directors' report.
Page 5

 
 
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Independent auditor's report to the members of J & D Consulting Limited (continued)


Responsibilities of management and those charged with governance for the financial statements
 

Management is responsible for the preparation of the financial statements which give a true and fair view in accordance with United Kingdom Generally Accepted Accounting Practice, including FRS102 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, management is 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 management either intend to liquidate the Company or to cease operations, or has no realistic alternative but to do so.


Those charged with governance are responsible for overseeing the Company's financial reporting process.

Responsibilities of the auditor for the audit of the financial statements
 

The objectives of an auditor 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 their 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 an auditor's responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Explanation as to what extent 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, to detect material misstatements in respect of irregularities, including fraud. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatement in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with ISAs (UK).

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:

Based on our understanding of the Company and industry, we identified that the principal risks of non-compliance with laws and regulations related to compliance with data protection and Employment laws, Health and Safety Regulation and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulation that have a direct impact on the preparation of the financial statements such as Companies Act 2006 and UK tax legislation. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to manipulate financial performance and management bias through judgements and assumptions in significant accounting estimates, in particular in relation to significant one-off or unusual transactions. We apply professional scepticism hrough the audit to consider potential deliberate omission or concealment of significant transactions, or incomplete/inaccurate disclosures in the financial statements.
Page 6

 
 
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Independent auditor's report to the members of J & D Consulting Limited (continued)


Responsibilities of the auditor for the audit of the financial statements (continued)

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud (continued)

In response to these principal risks, our audit procedures included but were not limited to:

inquiries of management and board on the policies and procedures in place regarding compliance with laws and regulations, including consideration of known or suspected instances of non-compliance and whether they have knowledge of any actual, suspected or alleged fraud;
inspection of the Company’s legal correspondence and review of minutes of board meetings during the financial year to corroborate inquiries made;
gaining an understanding of the internal controls established to mitigate risk related to fraud;
discussion amongst the engagement team in relation to the identified laws and regulations and regarding the risk of fraud, and remaining alert to any indications of non-compliance or opportunities for fraudulent manipulation of financial statements throughout the audit;
identifying and testing journal entries to address the risk of inappropriate journals and management override of controls;
designing audit procedures to incorporate unpredictability around the nature, timing or extent of our testing;
challenging assumptions and judgements made by management in their significant accounting estimates, including useful lives of tangible and intangible assets, impairment assessment of non financial and financial assets; 
review of the financial statements disclosures to underlying supporting documentation and inquiries of management.
 
The primary responsibility for the prevention and detection of irregularities including fraud rests with those charged with governance and management. As with any audit, there remains a risk of non-detection or irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or override of internal controls.

The purpose of our audit work and to whom we owe our responsibilities
 

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.



 
 
Tracey Sullivan (Senior statutory auditor)
for and on behalf of
Grant Thornton
Chartered Accountants &
Statutory Auditors
Dublin 2
14 August 2025
Page 7

 
J & D Consulting Limited
 

Statement of comprehensive income
For the year ended 31 December 2024

11 months period ended 31 December
2024
2023 (Unaudited)
Note
£
£

  

Turnover
 4 
2,170,595
3,286,977

Cost of sales
  
(268,503)
(1,059,100)

Gross profit
  
1,902,092
2,227,877

Administrative expenses
  
(2,711,498)
(1,204,948)

Operating (loss)/profit
  
(809,406)
1,022,929

Interest payable and similar expenses
  
(24,176)
-

(Loss)/profit before tax
  
(833,582)
1,022,929

Tax on (loss)/profit
 6 
12,294
(185,033)

(Loss)/profit for the year
  
(821,288)
837,896

All amounts relate to contiuing operations.
There was no other comprehensive income for 2024 (2023 Unaudited: £Nil).

The notes on pages 11 to 19 form part of these financial statements.

Page 8

 
J & D Consulting Limited
Registered number:07504238

Statement of financial position
As at 31 December 2024

2024
2023 (Unaudited)
Note
£
£

Fixed assets
  

Tangible assets
 7 
184
3,434

  
184
3,434

Current assets
  

Debtors: amounts falling due within one year
 8 
4,135,121
2,121,858

Cash at bank and in hand
 9 
32,385
1,430,051

  
4,167,506
3,551,909

Current liabilities
  

Creditors: amounts falling due within one year
 10 
(2,907,226)
(1,473,591)

Net current assets
  
 
 
1,260,280
 
 
2,078,318

Total assets less current liabilities
  
1,260,464
2,081,752

  

Net assets
  
1,260,464
2,081,752


Capital and reserves
  

Called up share capital 
 11 
1
1

Profit and loss account
 12 
1,260,463
2,081,751

Shareholders' funds
  
1,260,464
2,081,752


The Company's financial statements have been prepared in accordance with the 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 by: 

Vicky Harris
Director

Date: 14 August 2025

The notes on pages 11 to 19 form part of these financial statements.

Page 9

 
J & D Consulting Limited
 

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


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 January 2024
1
2,081,751
2,081,752


Comprehensive income for the year

Loss for the year
-
(821,288)
(821,288)


At 31 December 2024
1
1,260,463
1,260,464



Statement of changes in equity
For the year ended 31 December 2023 (Unaudited)


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 January 2023
1
1,243,855
1,243,856


Comprehensive income for the year

Profit for the year
-
837,896
837,896


At 31 December 2023
1
2,081,751
2,081,752


The notes on pages 11 to 19 form part of these financial statements.

Page 10

 
J & D Consulting Limited
 
 
Notes to the financial statements
For the year ended 31 December 2024

1.


General information

J &  D Consulting Limited is a private limited company which is registered and incorporated in the United Kingdom with a registered number 07504238 and with a registered office at 3 More London Riverside, London, United Kingdom, SE1 2AQ. The Company operates as a provider of forecasting solutions for the pharmaceutical industry.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see Note 3).

The following principal accounting policies have been applied:

  
2.2

Adoption of new standards issued and effective as of 1 January 2024

The Company has adopted all relevant accounting standards applicable for accounting periods beginning on or after 1 January 2024. None of these have a significant impact on the Company's financial Statements and therefore the disclosures have not been made.

 
2.3

Going concern

The accompanying financial statements have been prepared on the assumption that the Group will continue as a going concern.
The Group performed forecasts for 12 months from the signing of these financials and noted resilience in the financials including revenues and the cash position, through the period to date.

Based on these forecasts and the support of its ultimate parent company, the directors are satisfied that the company has adequate resources to continue in operational existence for the foreseeable future. Further, the company's ultimate parent company, Caerus PikCo S.à.r.l., has committed to provide immediate financial support in case of financial difficulties of the company. Accordingly, the directors continue to adopt the going concern basis in preparing these financial statements.

Page 11

 
J & D Consulting Limited
 

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

2.Accounting policies (continued)

 
2.4

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.

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 'other operating income'.

 
2.5

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.

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.

Page 12

 
J & D Consulting Limited
 

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

2.Accounting policies (continued)

 
2.6

Taxation

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 reporting 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 reporting 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 reporting date.


 
2.7

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.

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:

Motor vehicles
-
20%
on cost

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.

 
2.8

Debtors

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

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J & D Consulting Limited
 

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

2.Accounting policies (continued)

 
2.9

 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.

 
2.10

 Creditors

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


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of financial statements in conformity with FRS 102 requires the use of certain critical accounting estimates and assumptions and the exercise of judgments in the process of applying the Company’s accounting policies. The areas involving a high degree of judgment or areas where assumptions and estimates are significant to the financial statements are described below.

Impairment of tangible fixed assets
The Company assesses impairment on its tangible and intangible fixed assets whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The factors that the Company considers important which could trigger impairment review include significant under performance relative to expected historical or projected future operating results and significant changes in the manner of use of the acquired assets or the strategy for overall business. 

Estimating useful lives of tangible fixed assets
The Company estimates the useful lives of its tangible and intangible fixed assets based on the period over which the assets are expected to be available for use. The estimated useful lives are reviewed if there is an indication that there has been a significant change since the last annual review in the expected pattern of economic benefits from these assets. It is possible that future results of operations could be materially affected by changes in these estimates brought about by changes in factors mentioned above.

Allowances for impairment of trade debtors and amounts owed by group undertakings
The Company estimates the allowance for doubtful trade debtors and intercompany debtors based on assessment of specific accounts where the Company has objective evidence comprising default in payment terms or significant financial difficulty that certain customers are unable to meet their financial obligations. In these cases, judgement used was based on the best available facts and circumstances including but not limited to, the length of the relationship.

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J & D Consulting Limited
 
 
Notes to the financial statements
For the year ended 31 December 2024

4.


Turnover

An analysis of turnover by class of business is as follows:


11 months period ended 31 December
2024
2023 (Unaudited)
£
£

SAAS
1,577,776
1,318,686

Professional services
592,819
1,968,291

2,170,595
3,286,977


All turnover arose within the United Kingdom.


5.


Employees

11 months period ended 31 December
2024
2023 (Unaudited)
£
£

Wages and salaries
298,498
1,121,302

Social security costs
24,828
120,025

323,326
1,241,327


The average monthly number of employees, including the directors, during the year was as follows:


        2024
  2023 (Unaudited)
            No.
            No.







Admin
5
20

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J & D Consulting Limited
 
 
Notes to the financial statements
For the year ended 31 December 2024

6.


Taxation


11 months period ended 31 December
2024
2023 (Unaudited)
£
£

Corporation tax


Current tax/(credit) on profits for the year
(12,294)
185,033



Tax on (loss)/profit
(12,294)
185,033

Factors affecting tax charge for the year

The tax assessed for the year is lower than (2023 - lower than) the standard rate of corporation tax in the UK of 25% (2023 - 23.9%). The differences are explained below:

11 months period ended 31 December
2024
2023 (Unaudited)
£
£


(Loss)/profit on ordinary activities before tax
(833,582)
1,022,929


(Loss)/profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 23.9%)
(208,396)
244,480

Effects of:


Expenses not deductible for tax purposes
751
(59,447)

Group relief surrendered/(claimed)
200,742
-

Adjustment to tax charge in respect of previous periods
(11,435)
-

O/S
6,044
-

Total tax charge for the year
(12,294)
185,033


Factors that may affect future tax charges

In 2021 an increase in the corporation tax rate to 25% with effect from 1 April 2023 was substantively enacted. The 25% rate is used to measure UK deferred taxes in 2024 (and in 2023 the 23.9% rate used reflects 9 months of the new rate and 2 months of the previous rate of 19% to the extent the related timing differences were expected to reverse after 1 April 2023).

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J & D Consulting Limited
 
 
Notes to the financial statements
For the year ended 31 December 2024

7.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 January 2024
28,586


Additions
3,189



At 31 December 2024

31,775



Depreciation


At 1 January 2024
25,152


Charge for the year on owned assets
6,439



At 31 December 2024

31,591



Net book value



At 31 December 2024
184



At 31 December 2023
3,434


8.


Debtors: Amounts falling due within one year

2024
2023 (Unaudited)
£
£


Trade debtors
72,432
2,038,895

Amounts owed by group undertakings
3,915,394
-

Other debtors
7,975
-

Prepayments and accrued income
139,320
82,963

4,135,121
2,121,858


Amounts owed by group undertakings are unsecured, interest-free, and repayable on demand.


9.


Cash and cash equivalents

2024
2023 (Unaudited)
£
£

Cash at bank and in hand
32,385
1,430,051


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J & D Consulting Limited
 
 
Notes to the financial statements
For the year ended 31 December 2024

10.


Creditors: Amounts falling due within one year

2024
2023 (Unaudited)
£
£

Trade creditors
8
53,607

Amounts owed to group undertakings
2,417,811
-

Corporation tax
257,518
269,812

Other creditors
110,947
663

Accruals and deferred income
120,942
1,029,988

Other taxation and social security
-
119,521

2,907,226
1,473,591


Amounts owed to group undertakings are unsecured, interest-free, and repayable on demand.


11.


Share capital

2024
2023 (Unaudited)
£
£
Allotted, called up and fully paid



1 (2023 - 1) Ordinary share of £1.00
1
1

The company's ordinary shares, which carry no right to fixed income, each carry the right to one vote at general meetings of the company.



12.


Reserves

Share capital

Nominal value of share capital subscribed for.

Profit and loss account

Cumulative profits or losses, net of dividends paid and other adjustments.


13.


Related party transactions

The Company has availed itself of the exemption under Financial Reporting Standard FRS 102 section 33 not to give details of related party transactions with fellow group companies as they are 100% controlled by Caerus PikCo S.à.r.l..


14.


Post balance sheet events

There have been no significant post balance sheet events that require disclosure in the financial statements.

Page 18

 
J & D Consulting Limited
 
 
Notes to the financial statements
For the year ended 31 December 2024

15.


Controlling party

The Company’s immediate parent company is Pharma Intelligence U.K. Limited, a company incorporated and registered in the UK.

The Company’s ultimate parent company is Caerus PikCo S.à.r.l., a company incorporated and registered in Luxembourg.

The smallest and largest group undertakings for which group accounts are drawn up and of which the Company is included is the group headed by Caerus PikCo S.à.r.l.

Copies of the consolidated financial statements of Caerus PikCo S.à.r.l. are available on request from 412F Route d’Esch, 1471, Luxembourg.

Page 19