Pharmaceutical Licensing Group Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04411527 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2018

for

Pharmaceutical Licensing Group Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Miss A Dugdale

Dr C Wilson

Mrs K E Tait

A S M Dean

Mr D L Thomas

SECRETARY:

Miss A Dugdale

REGISTERED OFFICE:

The Red House Kingswood Park

Bonsor Drive

Kingswood

Tadworth

Surrey

KT20 6AY

REGISTERED NUMBER:

04411527 (England and Wales)

ACCOUNTANTS:

Wilson Partners Limited

Chartered Accountants

5a Frascati Way

Maidenhead

Berkshire

SL6 4UY

CURRENT ASSETS

Debtors

5

47,329

37,564

Cash at bank

108,510

117,849

155,839

155,413

CREDITORS

Amounts falling due within one year

6

(8,685

)

(16,691

)

NET CURRENT ASSETS

147,154

138,722

TOTAL ASSETS LESS CURRENT LIABILITIES

147,154

138,722

RESERVES

Income and expenditure account

147,154

138,722

147,154

138,722

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2018 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 surplus or deficit 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 2 November 2018 and were signed on its behalf by:

Miss A Dugdale - Director

Mrs K E Tait - Director

1.	STATUTORY INFORMATION

Pharmaceutical Licensing Group Limited is a private company, limited by guarantee , 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.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make

judgements, estimates and assumptions about the carrying amount of assets and liabilities that are

not readily apparent from other sources. The estimates and associated assumptions are based on

historical experience and other factors that are considered to be relevant. Actual results may differ

from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to

accounting estimates are recognised in the period in which the estimate is revised where the

revision affects only that period, or in the period of the revision and future periods where the

revision affects both current and future periods.

Turnover

Turnover represents the value of services under contracts, provided in the year, exclusive of Value

Added Tax, to the extent that there is a right to consideration and is recorded at the value of

consideration due.

Revenue in respect of consultancy services for training courses is recognised once the service has

been provided and the invoice has been raised.

Tangible fixed assets

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

Fixtures and fittings

-

33% on cost

Tangible fixed assets are included at cost less depreciation and impairment.

Financial instruments

Basic financial instruments are recognised at amortised cost using the effective interest method,

except for investments in non-convertible preference and non-puttable preference and ordinary

shares, which are measured at fair value, with changes recognised in profit or loss. Derivative

financial instruments are initially recorded at cost and therefore at fair value, with changes

recognised in profit and loss.

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.

Foreign currencies

Monetary assets and liabilities denominated 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 recognised in the Profit & Loss account.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2017

and 30 June 2018

5,785

DEPRECIATION

At 1 July 2017

and 30 June 2018

5,785

NET BOOK VALUE

At 30 June 2018

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.18

30.6.17

£

£

Trade debtors

25,375

-

Other debtors

21,954

37,564

47,329

37,564

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.18

30.6.17

£

£

Trade creditors

525

2,011

Other creditors

8,160

14,680

8,685

16,691

7.	ULTIMATE CONTROLLING PARTY

For the current and preceding year there was no ultimate controlling party.

8.	LIMITED BY GUARANTEE

As the company is limited by guarentee there is no issued share capital. Each of the twelve

guarantor members is liable to contribute a maximum of £10 towards the costs on winding up of the

company.