eMed Pharma Group Limited 31/12/2019 iXBRL

eMed Pharma Group Limited 31/12/2019 iXBRL

EMED PHARMA GROUP LIMITED - Company Information

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0 31/12/2019 2019-12-31 false false false false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2019-01-01 Sage Accounts Production 20.0 - FRS102_2019 xbrli:pure xbrli:shares iso4217:GBP 09697610 2019-01-01 2019-12-31 09697610 2019-12-31 09697610 2018-12-31 09697610 2018-12-31 09697610 bus:Director1 2019-01-01 2019-12-31 09697610 core:IntangibleAssetsOtherThanGoodwill 2019-12-31 09697610 core:WithinOneYear 2019-12-31 09697610 core:WithinOneYear 2018-12-31 09697610 core:AfterOneYear 2019-12-31 09697610 core:AfterOneYear 2018-12-31 09697610 core:ShareCapital 2019-12-31 09697610 core:ShareCapital 2018-12-31 09697610 core:SharePremium 2019-12-31 09697610 core:SharePremium 2018-12-31 09697610 core:RetainedEarningsAccumulatedLosses 2019-12-31 09697610 core:RetainedEarningsAccumulatedLosses 2018-12-31 09697610 core:IntangibleAssetsOtherThanGoodwill 2018-12-31 09697610 core:IntangibleAssetsOtherThanGoodwill 2018-12-31 09697610 core:CostValuation core:Non-currentFinancialInstruments 2018-12-31 09697610 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2019-12-31 09697610 core:Non-currentFinancialInstruments 2018-12-31 09697610 bus:SmallEntities 2019-01-01 2019-12-31 09697610 bus:AuditExempt-NoAccountantsReport 2019-01-01 2019-12-31 09697610 bus:FullAccounts 2019-01-01 2019-12-31 09697610 bus:SmallCompaniesRegimeForAccounts 2019-01-01 2019-12-31 09697610 bus:PrivateLimitedCompanyLtd 2019-01-01 2019-12-31 09697610 core:AllAssociates 2019-01-01 2019-12-31
Company registration number: 09697610
eMed Pharma Group Limited
Unaudited filleted financial statements
31 December 2019
eMed Pharma Group Limited
Contents
Statement of financial position
Notes to the financial statements
eMed Pharma Group Limited
Statement of financial position
31 December 2019
2019 2018
Note £ £ £ £
Fixed assets
Intangible assets 4 1,643,538 1,515,926
Investments 5 - 1,089
_______ _______
1,643,538 1,517,015
Current assets
Debtors 6 41,388 37,795
Cash at bank and in hand 909 676
_______ _______
42,297 38,471
Creditors: amounts falling due
within one year 7 ( 141,073) ( 33,303)
_______ _______
Net current (liabilities)/assets ( 98,776) 5,168
_______ _______
Total assets less current liabilities 1,544,762 1,522,183
Creditors: amounts falling due
after more than one year 8 ( 64,090) ( 53,104)
_______ _______
Net assets 1,480,672 1,469,079
_______ _______
Capital and reserves
Called up share capital 713,890 698,854
Share premium account 917,588 899,443
Profit and loss account ( 150,806) ( 129,218)
_______ _______
Shareholders funds 1,480,672 1,469,079
_______ _______
For the year ending 31 December 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 28 August 2020 , and are signed on behalf of the board by:
Mr M Jayanarayan
Director
Company registration number: 09697610
eMed Pharma Group Limited
Notes to the financial statements
Year ended 31 December 2019
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Alexandra House, 43 Alexandra Street, Nottingham, NG5 1AY. The principal activity of the company is to develop and market a multi functional digital health platform linking patients and practitioners in the medical and healthcare field.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity rounded to the nearest £.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, stated net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period. 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. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Intangible assets - development costs and licences
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and any accumulated impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset. At 31 December 2019 the company was still developing its systems and platform and so no amortisation has yet been charged.
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Research and development
Research expenditure is written off in the year in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
4. Intangible assets
Other intangible assets Total
£ £
Cost
At 1 January 2019 1,515,925 1,515,925
Additions 127,613 127,613
_______ _______
At 31 December 2019 1,643,538 1,643,538
_______ _______
Amortisation
At 1 January 2019 and 31 December 2019 - -
_______ _______
Carrying amount
At 31 December 2019 1,643,538 1,643,538
_______ _______
At 31 December 2018 1,515,925 1,515,925
_______ _______
5. Investments
Other investments other than loans Total
£ £
Cost
At 1 January 2019 1,089 1,089
Disposals ( 1,089) ( 1,089)
_______ _______
At 31 December 2019 - -
_______ _______
Impairment
At 1 January 2019 and 31 December 2019 - -
_______ _______
Carrying amount
At 31 December 2019 - -
_______ _______
At 31 December 2018 1,089 1,089
_______ _______
6. Debtors
2019 2018
£ £
Trade debtors 8,750 -
Other debtors 32,638 37,795
_______ _______
41,388 37,795
_______ _______
7. Creditors: amounts falling due within one year
2019 2018
£ £
Trade creditors 20,101 17,605
Other creditors 120,972 15,698
_______ _______
141,073 33,303
_______ _______
8. Creditors: amounts falling due after more than one year
2019 2018
£ £
Other creditors 64,090 53,104
_______ _______
During the comparative year a loan provider took out security by way of a debenture against the value of their funding to the company.
9. Related party transactions
During the year the company benefited from financing loans from Mr M Jayanarayan and Mr P Bergstrom , both directors of the company.At 31 December 2019 the company owed Mr M Jayanarayan £8,410 (2018 - £nil) and Mr P Bergstrom £970 (2018 - £nil).