DT Associates Research And Consulting Se - Accounts to registrar (filleted)

REGISTERED NUMBER: 08625150 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

DT ASSOCIATES RESEARCH AND CONSULTING

SERVICES LIMITED

Page

Company information

1

Balance sheet

2

Notes to the financial statements

3

DIRECTORS:

V A Ghai

S S Parikh

S Prabhu

D R Van Rooij

T Van Tongeren

REGISTERED OFFICE:

5th Floor

10 Fetter Lane

London

EC4A 1BR

REGISTERED NUMBER:

08625150 (England and Wales)

AUDITORS:

Johnsons Chartered Accountants

Statutory Auditor

1-2 Craven Road

Ealing

London

W5 2UA

NON-CURRENT ASSETS

Tangible assets

4

34,529

73,507

CURRENT ASSETS

Trade and other receivable

5

1,200,545

3,594,156

Cash and cash equivalents

357,947

265,068

1,558,492

3,859,224

CURRENT LIABILITIES

Amounts falling due within one year

6

(3,659,535

)

(4,484,508

)

NET CURRENT LIABILITIES

(2,101,043

)

(625,284

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(2,066,514

)

(551,777

)

CAPITAL AND RESERVES

Called up share capital

3

Share premium

879,999

Retained earnings

(2,946,516

)

(1,431,779

)

(2,066,514

)

(551,777

)

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

In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 May 2025 and were signed on its behalf by:

T Van Tongeren - Director

1.	STATUTORY INFORMATION

DT Associates Research and Consulting Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is DT Consulting, Westgate House, 9 Holborn, London, EC1N 2LL.

The Company is engaged in providing of solutions consisting of analytics, technology and commercial, medical, regulatory and safety services to life science and healthcare organizations as authorized by our constitutional documents.

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

GOING CONCERN

Having assessed the principal risks and other matters in connection with the going concern of the company, the Directors consider it appropriate to continue to adopt the going concern basis of accounting in preparing these financial statements. The directors have received written confirmation that the parent company will provide the necessary financial support to ensure that all the company's financial obligations are paid as they fall due for a period of at least 12 months from the date of signing of the financial statements.

REVENUE

Revenue is recognised at the fair value of the consideration received or receivable for consultancy services provided, and is shown net of VAT.

PROPERTY PLANT AND EQUIPMENT

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers and equipment 33% straight line

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 the statement of income.

INVESTMENTS IN SUBSIDIARIES

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in the income statement.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

TAXATION

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement 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.

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 income statement, 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.

EQUITY INSTRUMENTS

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

EMPLOYMENT BENEFITS

The costs of short-term employee benefits are recognised as a liability and an expense.

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.

RETIREMENT BENEFITS

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

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 trade and other receivables 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 trade and other payables, 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.

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

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 40 (2024 - 47 ) .

4.	PROPERTY PLANT AND EQUIPMENT

Plant and

machinery

etc

£

COST

At 1 April 2024

179,396

Additions

9,932

Disposals

(9,339

)

At 31 March 2025

179,989

DEPRECIATION

At 1 April 2024

105,889

Charge for year

39,571

At 31 March 2025

145,460

NET BOOK VALUE

At 31 March 2025

34,529

At 31 March 2024

73,507

5.	TRADE AND OTHER RECEIVABLES

2025

2024

£

Trade receivables

715,751

2,124,859

Amounts owed by group undertakings

259,963

479,963

Other receivables

224,831

974,217

Corporation tax receivable

-

15,117

1,200,545

3,594,156

6.	CURRENT LIABILITIES

2025

2024

£

Trade creditors

1,131,595

1,181,391

Amounts owed to group undertakings

1,562,845

2,187,380

Social security and other taxes

404,109

170,770

Other payables

560,986

944,967

3,659,535

4,484,508

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the auditors was unqualified.

J. Stuart Thomson (Senior Statutory Auditor)

for and on behalf of Johnsons Chartered Accountants

8.	RETIREMENT BENEFIT SCHEMES

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund. Total commitments owed at the year end included within creditors amounted to £30,199 (2024: £35,796).

9.	SHARE-BASED PAYMENT TRANSACTIONS

The Company Share Option Plan 2022 ("CSOP"), Employee Stock Option Plan 2020 ("ESOP"), Employee Restricted Stock Unit Plan 2020' ("RSU")(collectively "stock option plans") are intended to provide a means whereby certain employees of the company are given options to receive shares of the Ultimate Parent Company, Indegene Private Limited ("the Ultimate Parent Company"), that they may develop a sense of proprietorship and personal involvement in the development and financial success of the Parent Company.

The share options give each director entitlement to one fully paid up equity share of the ultimate Parent Company, for each option held. The Ultimate Parent Company recharges the company in full for these share options over the vesting period of the share options. Options granted vest over a period of 1 to 4 years from the date of the grant. The options shall be exercisable within two years or as determined by the Board of the ultimate parent company from the date of each vesting.

The following is the summary of the movement in
RSU during the year:

Particulars

No of Shares

Weighted Average

Options

exercise price

£

2025

2024

2025

2024

Options outstanding at the beginning of the year

190,184

341,384

0.02

Options granted during the year

-

Options exercised during the year

(87,058

)

(151,200

)

0.02

Options outstanding at the end of the year

103,126

190,184

0.02

Exercisable

-

The following is the summary of the movement in
ESOP during the year:

Particulars

No of Shares

Weighted Average

options

exercise price

£

2025

2024

2025

2024

Options outstanding at the beginning of the year

200,558

3.59

Options exercised during the year

(200,558

)

-

3.59

Options outstanding at the end of the year

-

200,558

3.59

Exercisable

-

The following is the summary of the movement in
CSOP during the year:

Particulars

No. of Shares

Weighted Average

options

exercise price

£

2025

2024

2025

2024

Options outstanding at the beginning of the year

45,772

3.38

-

Employee transfer within the Group

(5,268

)

3.38

-

Options granted during the year

21,564

45,772

2.93

3.38

Options forfeited during the year

(2,723

)

-

3.38

-

Options outstanding at the end of the year

59,345

45,772

3.38

Exercisable

9,443

-

Liabilities and expenses during the year, the company recognised total share-based payment expenses of

£134,022 (2024- £358,889) which related to equity settled share based payment transactions.

10.	CALLED UP SHARE CAPITAL

2025

2024

2025

2024

Number

£

Ordinary share capital

Issued and fully paid

Ordinary Shares of 0.01 GBP each

270

3

11.	OPERATING LEASE COMMITMENTS

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025

2024

£

-

126,690

12.	RELATED PARTY TRANSACTIONS

During the year the following transactions occurred between the company (which is not a wholly owned

subsidiary) and members of the Indegene Limited group:

2025

2024

£

Fees receivable from group companies

2,507,299

1,520,302

Recharges receivable from group companies

95,775

438,789

Fees payable to group companies

1,428,792

1,874,383

Recharges payable to group companies

225,822

1,994

Trade receivables due from group companies

2,431

242,925

Other amounts due from group companies

260,050

479,963

Trade payables due to group companies

953,804

597,078

Other amounts due to group companies

1,570,600

2,187,380

13.	PARENT COMPANY

The parent undertaking of the smallest group of which DT Associates Research and Consulting Services Limited is a member and consolidated financial statements are prepared is ILSL Holdings, Inc. Their registered office address is 150 College Rd W, Suite 104, Princeton, NJ 08540.