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 2017

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:

2 Mill Road

Haverhill

Suffolk

CB9 8BD

REGISTERED NUMBER:

08803781 (England and Wales)

ACCOUNTANTS:

Hackett Griffey LLP

Chartered Certified Accountants

2 Mill Road

Haverhill

Suffolk

CB9 8BD

FIXED ASSETS

Tangible assets

4

1,805

1,057

CURRENT ASSETS

Debtors

5

78,518

40,640

Cash at bank

72

6,859

78,590

47,499

CREDITORS

Amounts falling due within one year

6

22,900

22,118

NET CURRENT ASSETS

55,690

25,381

TOTAL ASSETS LESS CURRENT LIABILITIES

57,495

26,438

PROVISIONS FOR LIABILITIES

343

211

NET ASSETS

57,152

26,227

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

57,151

26,226

SHAREHOLDERS' FUNDS

57,152

26,227

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 27 September 2018 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 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.

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 1 (2016 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2017

2,227

Additions

1,350

At 31 December 2017

3,577

DEPRECIATION

At 1 January 2017

1,170

Charge for year

602

At 31 December 2017

1,772

NET BOOK VALUE

At 31 December 2017

1,805

At 31 December 2016

1,057

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

8,590

-

Directors' loan accounts

69,928

40,640

78,518

40,640

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Taxation

17,949

15,754

VAT

4,861

6,274

Accrued expenses

90

90

22,900

22,118

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2017 and

31 December 2016:

2017

2016

£

£

P Marron

Balance outstanding at start of year

40,640

(60

)

Amounts advanced

129,558

117,945

Amounts repaid

(100,270

)

(77,245

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

69,928

40,640

Interest of £1,435 was charged on the above loan during the year at the rate of 3% / 2.50% p.a.