Pharmamedic Consultancy Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 07364364 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2017

for

Pharmamedic Consultancy Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

1,228

323

CURRENT ASSETS

Debtors

5

153,364

103,740

Cash at bank

5,289

111

158,653

103,851

CREDITORS

Amounts falling due within one year

6

120,483

102,791

NET CURRENT ASSETS

38,170

1,060

TOTAL ASSETS LESS CURRENT LIABILITIES

39,398

1,383

CREDITORS

Amounts falling due after more than one year

7

25,551

-

NET ASSETS

13,847

1,383

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

13,747

1,283

SHAREHOLDERS' FUNDS

13,847

1,383

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit & Loss Account has not been delivered.

The financial statements were approved by the director on 24 May 2018 and were signed by:

Dr M F Barratt-Johnson - Director

1.	STATUTORY INFORMATION

Pharmamedic Consultancy Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address are as below:

Registered number:

07364364

Registered office:

The London Bioscience Innovation Centre

2 Royal College Street

London

NW1 0NH

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.

Turnover

Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

Tangible fixed assets

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

Computer equipment

-

Straight line over 4 years

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, except

to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2016 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2016

1,290

Additions

1,637

At 30 September 2017

2,927

DEPRECIATION

At 1 October 2016

967

Charge for year

732

At 30 September 2017

1,699

NET BOOK VALUE

At 30 September 2017

1,228

At 30 September 2016

323

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

39,913

10,607

Amounts owed by group undertakings

840

-

Other debtors

112,611

93,133

153,364

103,740

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

-

913

Trade creditors

12,945

120

Taxation and social security

65,465

80,117

Other creditors

42,073

21,641

120,483

102,791

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Other creditors

25,551

-

8.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Other loans

36,138

-

The funding circle loan is secured over the fixed and floating charge over all the assets of the business.

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2017 and

30 September 2016:

2017

2016

£

£

Dr M F Barratt-Johnson

Balance outstanding at start of year

79,184

47,992

Amounts advanced

128,383

189,757

Amounts repaid

(116,602

)

(158,565

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

90,965

79,184

Interest was charged on all loans at HMRC approved rates.

10.	RELATED PARTY DISCLOSURES

During the year, total dividends of £69,000 (2016 - £141,000) were paid to the director .

11.	FIRST YEAR ADOPTION

There are no adjustments to be shown in a Reconciliation of Equity as at 1 October 2015 (date of transition to

FRS102).There are also no adjustments to be made in the Reconciliation of Equity as at 30 September 2016, or

in the Reconciliation of Profit for the year ended 30 September 2016, as a result of the transition to FRS102.