Pharma IT Consulting Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08803781 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

PHARMA IT CONSULTING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P Marron

Miss B J King

REGISTERED OFFICE:

31 High Street

Haverhill

Suffolk

CB9 8AD

REGISTERED NUMBER:

08803781 (England and Wales)

ACCOUNTANTS:

Hackett Griffey LLP

Chartered Certified Accountants

31 High Street

Haverhill

Suffolk

CB9 8AD

FIXED ASSETS

Tangible assets

4

4,517

1,689

CURRENT ASSETS

Debtors

5

96,209

91,787

Cash at bank

12,939

9,571

109,148

101,358

CREDITORS

Amounts falling due within one year

6

30,869

29,114

NET CURRENT ASSETS

78,279

72,244

TOTAL ASSETS LESS CURRENT LIABILITIES

82,796

73,933

PROVISIONS FOR LIABILITIES

858

535

NET ASSETS

81,938

73,398

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

81,936

73,396

SHAREHOLDERS' FUNDS

81,938

73,398

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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 and authorised for issue on 23 March 2022 and were signed on its behalf by:

P Marron - Director

1.	STATUTORY INFORMATION

Pharma IT Consulting 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.

Turnover

Turnover is the amount derived from ordinary activities, stated after trade discounts, other sales taxes and net of VAT.

Tangible fixed assets

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

Computer equipment

-

25% on reducing balance

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2021

4,926

Additions

4,344

Disposals

(1,350

)

At 31 December 2021

7,920

DEPRECIATION

At 1 January 2021

3,237

Charge for year

1,098

Eliminated on disposal

(932

)

At 31 December 2021

3,403

NET BOOK VALUE

At 31 December 2021

4,517

At 31 December 2020

1,689

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

14,266

12,945

Directors' loan accounts

81,943

78,842

96,209

91,787

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Taxation

21,205

19,715

VAT

9,358

9,309

Accrued expenses

306

90

30,869

29,114

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2021 and 31 December 2020:

2021

2020

£

£

P Marron

Balance outstanding at start of year

78,842

77,817

Amounts advanced

108,892

121,367

Amounts repaid

(105,791

)

(120,342

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

81,943

78,842

Interest of £1,836 was charged on the above loan during the year at an average rate of 2.07% p.a.