The Pharmacy Insurance Agency Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02591975 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2019

FOR

THE PHARMACY INSURANCE AGENCY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

T A Farana

K N Haywood

G M Thornton

SECRETARY:

Mrs S Prasad

REGISTERED OFFICE:

The Old Fire Station

69 Albion Street

Birmingham

B1 3EA

REGISTERED NUMBER:

02591975 (England and Wales)

ACCOUNTANTS:

Prime

Chartered Accountants

No. 3 Caroline Court

13 Caroline Street

St Paul's Square

Birmingham

B3 1TR

CURRENT ASSETS

Debtors

4

2,628,691

2,365,994

Cash at bank and in hand

1,056,251

526,842

3,684,942

2,892,836

CREDITORS

Amounts falling due within one year

5

3,163,369

2,412,728

NET CURRENT ASSETS

521,573

480,108

TOTAL ASSETS LESS CURRENT LIABILITIES

521,573

480,108

CAPITAL AND RESERVES

Called up share capital

50,000

50,000

Retained earnings

471,573

430,108

SHAREHOLDERS' FUNDS

521,573

480,108

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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 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 on 4 December 2019 and were signed on its behalf by:

G M Thornton - Director

1.	STATUTORY INFORMATION

The Pharmacy Insurance Agency 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.

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

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.

Related party exemption

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.

Turnover

Turnover represents net insurance premiums receivable in the year, excluding value added tax.

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.

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 9 (2018 - 6 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Amounts owed by group undertakings

2,200,624

1,900,349

Other debtors

428,067

465,645

2,628,691

2,365,994

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

1,390,272

926,953

Taxation and social security

60,703

15,825

Other creditors

1,712,394

1,469,950

3,163,369

2,412,728

6.	ULTIMATE CONTROLLING PARTY