Pharmacom Limited - Accounts to registrar - small 17.2
Pharmacom Limited - Accounts to registrar - small 17.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| FOR |
| PHARMACOM LIMITED |
| PHARMACOM LIMITED (REGISTERED NUMBER: 03833323) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Chartered Accountants' Report | 5 |
| PHARMACOM LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Chilworth Point |
| 1 Chilworth Road |
| Southampton |
| SO16 7JQ |
| PHARMACOM LIMITED (REGISTERED NUMBER: 03833323) |
| BALANCE SHEET |
| 31 MARCH 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT 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. |
| 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 |
| PHARMACOM LIMITED (REGISTERED NUMBER: 03833323) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| 1. | STATUTORY INFORMATION |
| Pharmacom Limited is a |
| registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| BASIS OF PREPARING THE FINANCIAL STATEMENTS |
| SIGNIFICANT JUDGEMENTS AND ESTIMATES |
| Inherent in the application of many of the accounting policies used in preparing the financial statements is the |
| need for directors to make judgements, estimates and assumptions that affect the reported amount of assets |
| and liabilities at the date of the financial statement and the reporting amounts of revenues and expenses during |
| the year. Actual outcomes could differ from those estimates and assumptions used. The accounting judgements |
| and estimates that could have significant impact on the results of the company are set out below and should be |
| read in conjunction with the information provided in the Notes to the financial statements: |
| Critical Judgements |
| > | Management determine whether financial instruments are basic or advanced and when to deal with recognising, derecognising, measuring and disclosing financial instruments. These decisions depend on an assessment made of the accounting standards. |
| > | The management determine the point of recognition of revenue. Factors taken into consideration in reaching such a decision include an assessment of whether the risks and rewards of ownership have been transferred to the customer. |
| Significant Estimates |
| > | Where there are indications of impairment to trade debtors, management perform an impairment test. The amount of the loss is determined by looking at the carrying value of the trade debtor and comparing it with the present value of the estimated cash flows discounted at the effective interest rate. |
| > | To determine whether there are indicators of impairment of the company's tangible assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset. |
| > | To determine the most likely term of a loan with no fixed repayment date. Where there is not a loan agreement, management have estimated that the loan will be payable on demand. |
| REVENUE RECOGNITION |
| Turnover is the amount receivable for the provision of writing, copywriting, communication and business |
| consultancy, stated after trade discounts and other sales taxes. |
| Revenue is recognised when the amount of revenue can be measured reliably and it is probable that the |
| economic benefits associated with the transaction will flow to the entity. |
| TANGIBLE FIXED ASSETS |
| Tangible fixed assets are stated at cost less accumulated depreciation and impairment losses. Depreciation is |
| provided at the following rates calculated to write off the cost of the fixed assets, less the estimated residual |
| value, over their estimated useful lives. |
| Plant and Machinery - 25% reducing balance basis |
| SHORT-TERM DEBTORS AND CREDITORS |
| Debtors and creditors receivable and payable within one year or upon demand are recorded at transaction price |
| whether or not a rate of interest is charged on the balance. |
| TRANSITION |
| In preparing the accounts, the directors have considered that in applying the accounting policies required by |
| Section 1A "Small Entities" of Financial Reporting Standard 102 that no subsequent restatement of items has |
| been required in making the transition. The transition date was 1 January 2015. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| PHARMACOM LIMITED (REGISTERED NUMBER: 03833323) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| £ |
| COST |
| At 1 April 2016 |
| Additions |
| At 31 March 2017 |
| DEPRECIATION |
| At 1 April 2016 |
| Charge for year |
| At 31 March 2017 |
| NET BOOK VALUE |
| At 31 March 2017 |
| At 31 March 2016 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Directors' current accounts | - | 5,311 |
| Accrued income |
| Prepayments |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Tax |
| VAT | 11,382 | 3,434 |
| Directors' current accounts | 1,672 | - |
| Accrued expenses |
| 7. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| At the beginning of the year the Directors owed £5,311 to the company. During the year the Directors introduced |
| capital of £24,183 and after withdrawing the sum of £ 17,200 an amount of £1,672 was owed by the company at |
| the balance sheet date. The loan is repayable on demand, no interest is being charged on the loan and no |
| security has been provided on this balance. |
| CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| PHARMACOM LIMITED |
| The following reproduces the text of the report prepared for the directors and members 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 Pharmacom Limited for the year ended 31 March 2017 which comprise the Income Statement, |
| 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 Pharmacom 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 Pharmacom Limited and state those matters that we have agreed to state to the Board of Directors of Pharmacom 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 Pharmacom Limited Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Pharmacom 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 Pharmacom Limited. You consider that Pharmacom 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 Pharmacom 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 |
| Chilworth Point |
| 1 Chilworth Road |
| Southampton |
| SO16 7JQ |
| Date: ............................................. |