Pharmaphorum Media Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07254094 (England and Wales)

PHARMAPHORUM MEDIA LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

Directors:

Dr M H A Sacoor

Dr P Tunnah

Secretary:

Mr P Bannister

Registered office:

Rosemount House

Rosemount Avenue

West Byfleet

KT14 6LB

Registered number:

07254094 (England and Wales)

Accountants:

JPS Accountancy Limited

Chartered Accountants

Thorncroft Manor

Thorncroft Drive

Leatherhead

Surrey

KT22 8JB

FIXED ASSETS

Intangible assets

4

74,540

28,334

Tangible assets

5

2,823

14,015

77,363

42,349

CURRENT ASSETS

Debtors

6

378,421

435,389

Cash at bank

951

18,044

379,372

453,433

CREDITORS

Amounts falling due within one year

7

(1,161,073

)

(1,082,155

)

NET CURRENT LIABILITIES

(781,701

)

(628,722

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(704,338

)

(586,373

)

CAPITAL AND RESERVES

Called up share capital

105

105

Retained earnings

(704,443

)

(586,478

)

SHAREHOLDERS' FUNDS

(704,338

)

(586,373

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Profit and Loss account has not been delivered.

The financial statements were approved by the Board of Directors on 10 June 2019 and were signed on its behalf by:

Dr P Tunnah - Director

1.	STATUTORY INFORMATION

Pharmaphorum Media Limited 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost

convention unless otherwise stated below.

The financial statements have been prepared on a going concern basis. This is considered appropriate by the

directors due to the anticipated future profitability of the company and on the basis that the shareholders and

an associated company will continue to support the company for the foreseeable future to enable liabilities to

be met as they fall due.

Turnover

Turnover represents the fair value of the consideration receivable for the sale of services in the ordinary course

of the business, excluding value added tax. In the case of long term contracts, credit is taken appropriate to the

stage of completion when the outcome of the contract can be assessed with reasonable certainty.

Intangible assets

Intangible fixed assets include website development costs where their future recoverability can reasonable be

regarded as assured. Amortisation is provided at an annual rate of 33% on cost.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold improvements

-

Over the period of the lease

Office equipment

-

straight line over 3 years

Financial instruments

Financial assets and liabilities are recognised when the company becomes party to the contractual provisions

of the instrument. All financial assets and liabilities are initially measured at transaction price. The company

has no financial assets or liabilities measured at fair value through profit or loss. All subsequent

remeasurement of financial assets and liabilities are recognised at amortised cost using the effective interest

rate method.

Taxation

Taxation for the year comprises current and deferred tax. 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.

Operating leases

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain

with the lessor are charged to the profit and loss account as incurred. The benefits of lease incentives are

recognised in the profit and loss account over the life of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2017 - 17 ) .

4.	INTANGIBLE FIXED ASSETS

Website

development

costs

£

Cost

At 1 January 2018

101,076

Additions

60,853

At 31 December 2018

161,929

Amortisation

At 1 January 2018

72,742

Amortisation for year

14,647

At 31 December 2018

87,389

Net book value

At 31 December 2018

74,540

At 31 December 2017

28,334

5.	TANGIBLE FIXED ASSETS

Leasehold

Office

improvements

equipment

Totals

£

£

£

Cost

At 1 January 2018

33,344

20,955

54,299

Additions

-

1,898

1,898

At 31 December 2018

33,344

22,853

56,197

Depreciation

At 1 January 2018

27,460

12,824

40,284

Charge for year

5,884

7,206

13,090

At 31 December 2018

33,344

20,030

53,374

Net book value

At 31 December 2018

-

2,823

2,823

At 31 December 2017

5,884

8,131

14,015

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

134,708

223,788

Other debtors

243,713

211,601

378,421

435,389

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

215,341

218,328

Trade creditors

130,936

54,300

Taxation and social security

27,708

25,745

Other creditors

787,088

783,782

1,161,073

1,082,155

The amount included within bank loans and overdrafts is secured by way of fixed and floating charge over the

assets of the company in favour of Barclays Bank PLC.

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2018

2017

£

£

Within one year

37,700

22,500

Between one and five years

65,975

-

103,675

22,500

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a

Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Pharmaphorum Media Limited for the year ended 31 December 2018 which comprise the

Profit and Loss account, Balance Sheet and the related notes from the company's accounting records and from

information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Pharmaphorum Media Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Pharmaphorum Media Limited and state those matters that we have agreed to state to the Board of Directors of Pharmaphorum Media Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pharmaphorum Media Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Pharmaphorum Media Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Pharmaphorum Media Limited. You consider that Pharmaphorum Media Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Pharmaphorum Media Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

JPS Accountancy Limited

Chartered Accountants

Thorncroft Manor

Thorncroft Drive

Leatherhead

Surrey

KT22 8JB

10 June 2019