Picis Clinical Solutions, Ltd. - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05136544 (England and Wales)

Audited Financial Statements

for the Year Ended 31 December 2017

for

Picis Clinical Solutions, Ltd.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J Bender

SECRETARY:

REGISTERED OFFICE:

C/O PPK

Sandhurst House

297 Yorktown Road

Sandhurst

Berkshire

GU47 0QA

REGISTERED NUMBER:

05136544 (England and Wales)

AUDITORS:

PPK Accountants Limited

Accountants and Registered Auditors

Sandhurst House

297 Yorktown Road

Sandhurst

Berkshire

GU47 0QA

CURRENT ASSETS

Debtors

5

1,116,445

678,334

Cash at bank

1,630

-

1,118,075

678,334

CREDITORS

Amounts falling due within one year

6

912,110

491,355

NET CURRENT ASSETS

205,965

186,979

TOTAL ASSETS LESS CURRENT LIABILITIES

205,965

186,979

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

204,965

185,979

SHAREHOLDERS' FUNDS

205,965

186,979

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the director on 17 September 2018 and were signed by:

J Bender - Director

1.	STATUTORY INFORMATION

Picis Clinical Solutions, Ltd. is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The accounts have been prepared on the going concern basis. The company is financially supported by the

parent company, this support is expected to continue for the foreseeable future.

Turnover

Turnover represents costs incurred plus an agreed profit percentage and is derived solely from the parent

company.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2016 - 4 ) .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Amounts owed by group undertakings

1,112,906

671,628

Other debtors

3,539

6,706

1,116,445

678,334

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

1,555

4,261

Amounts owed to group undertakings

877,794

473,689

Taxation and social security

5,056

4,235

Other creditors

27,705

9,170

912,110

491,355

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

The Report of the Auditors was unqualified.

James Brooks (Senior Statutory Auditor)

for and on behalf of PPK Accountants Limited

8.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

9.	APB ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns

to the tax authorities and assist with the preparation of the financial statements.

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Constellation Software Inc..

The ultimate controlling party address is 20 Adelaide Street East, Suite 1200, Toronto, Ontario, Canada M5C

2T6. The company is registered in Canada.

The parent company is Picis Clinical Solutions, Inc (formerly Optum Clinical Solutions, Inc), 100 Quannapowitt

Parkway, Suite 405, Wakefield, MA 01880, USA. The company is registered in the USA.