Pharmamedic Consultancy Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07364364 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2018

for

Pharmamedic Consultancy Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

3,739

1,228

CURRENT ASSETS

Debtors

5

196,232

153,364

Cash at bank

36,926

5,289

233,158

158,653

CREDITORS

Amounts falling due within one year

6

214,702

120,483

NET CURRENT ASSETS

18,456

38,170

TOTAL ASSETS LESS CURRENT LIABILITIES

22,195

39,398

CREDITORS

Amounts falling due after more than one year

7

13,914

25,551

NET ASSETS

8,281

13,847

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

8,181

13,747

SHAREHOLDERS' FUNDS

8,281

13,847

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 & Loss Account has not been delivered.

The financial statements were approved by the director on 28 February 2019 and were signed by:

Dr M F Barratt-Johnson - Director

1.	STATUTORY INFORMATION

Pharmamedic Consultancy Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address are as below:

Registered number:

07364364

Registered office:

The London Bioscience Innovation Centre

2 Royal College Street

London

NW1 0NH

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.

Turnover

Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

Tangible fixed assets

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

Computer equipment

-

Straight line over 4 years

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, except

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

Current 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2017

2,927

Additions

3,894

At 30 September 2018

6,821

DEPRECIATION

At 1 October 2017

1,699

Charge for year

1,383

At 30 September 2018

3,082

NET BOOK VALUE

At 30 September 2018

3,739

At 30 September 2017

1,228

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

78,253

39,913

Amounts owed by group undertakings

1,428

840

Other debtors

116,551

112,611

196,232

153,364

The debts that were subject to invoice discounting for the company at the year end amounted to £58,590

(2017:£nil)

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

32,280

12,945

Taxation and social security

83,150

65,465

Other creditors

99,272

42,073

214,702

120,483

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Other creditors

13,914

25,551

8.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Invoice discounting

36,020

36,138

The invoice discounting is secured over the fixed and floating charge over all the assets of the business.

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2018 and

30 September 2017:

2018

2017

£

£

Dr M F Barratt-Johnson

Amounts advanced

163,061

128,383

Amounts repaid

(172,017

)

(116,602

)

Interest was charged on all loans at HMRC approved rates.