Pharmaphorum Media Limited - Accounts to registrar (filleted) - small 18.2
Pharmaphorum Media Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
PHARMAPHORUM MEDIA LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
PHARMAPHORUM MEDIA LIMITED (REGISTERED NUMBER: 07254094) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 December 2020 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Chartered Accountants' Report | 8 |
PHARMAPHORUM MEDIA LIMITED |
COMPANY INFORMATION |
for the year ended 31 December 2020 |
Directors: |
Secretary: |
Registered office: |
Registered number: |
Accountants: |
Chartered Accountants |
Thorncroft Manor |
Thorncroft Drive |
Leatherhead |
Surrey |
KT22 8JB |
PHARMAPHORUM MEDIA LIMITED (REGISTERED NUMBER: 07254094) |
BALANCE SHEET |
31 December 2020 |
2020 | 2019 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS/(LIABILITIES) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
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. |
PHARMAPHORUM MEDIA LIMITED (REGISTERED NUMBER: 07254094) |
BALANCE SHEET - continued |
31 December 2020 |
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 and authorised for issue on |
PHARMAPHORUM MEDIA LIMITED (REGISTERED NUMBER: 07254094) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 December 2020 |
1. | STATUTORY INFORMATION |
Pharmaphorum Media Limited is a |
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. |
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 |
Leasehold improvements | - |
Office equipment | - |
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. |
PHARMAPHORUM MEDIA LIMITED (REGISTERED NUMBER: 07254094) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 December 2020 |
2. | ACCOUNTING POLICIES - continued |
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 |
4. | INTANGIBLE FIXED ASSETS |
Website |
development |
costs |
£ |
Cost |
At 1 January 2020 |
and 31 December 2020 |
Amortisation |
At 1 January 2020 |
Amortisation for year |
At 31 December 2020 |
Net book value |
At 31 December 2020 |
At 31 December 2019 |
PHARMAPHORUM MEDIA LIMITED (REGISTERED NUMBER: 07254094) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 December 2020 |
5. | TANGIBLE FIXED ASSETS |
Leasehold | Office |
improvements | equipment | Totals |
£ | £ | £ |
Cost |
At 1 January 2020 |
Additions |
At 31 December 2020 |
Depreciation |
At 1 January 2020 |
Charge for year |
At 31 December 2020 |
Net book value |
At 31 December 2020 |
At 31 December 2019 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Amounts owed to parent company | 150,000 | - |
Taxation and social security |
Other creditors |
The amount included within bank loans and overdrafts in the prior year was secured by way of fixed and floating charge over the assets of the company in favour of Barclays Bank PLC. |
PHARMAPHORUM MEDIA LIMITED (REGISTERED NUMBER: 07254094) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 December 2020 |
8. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2020 | 2019 |
£ | £ |
Within one year |
Between one and five years |
9. | ULTIMATE CONTROLLING PARTY |
During the year, the company became a wholly owned subsidiary of Healthware Group S.R.L., a company registered in Italy. The registered address of Healthware Group S.R.L. is Piazza Abate Conforti, Salerno (SA) 84121, Italy. |
The ultimate parent company is Simon Fiduciaria S.P.A, a company also registered in Italy, by virtue of its majority ownership of Healthware Group S.R.L. The registered address of Simon Fiduciaria S.P.A. is Via Pietro Giannone 10, 10121 Torino, Italy. |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
PHARMAPHORUM MEDIA LIMITED |
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 2020 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 profit 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. |
Chartered Accountants |
Thorncroft Manor |
Thorncroft Drive |
Leatherhead |
Surrey |
KT22 8JB |