REGISTERED NUMBER: |
AUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST JULY 2023 |
FOR |
THE BRITISH ASSOCIATION OF EUROPEAN |
PHARMACEUTICAL DISTRIBUTORS |
REGISTERED NUMBER: |
AUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST JULY 2023 |
FOR |
THE BRITISH ASSOCIATION OF EUROPEAN |
PHARMACEUTICAL DISTRIBUTORS |
THE BRITISH ASSOCIATION OF EUROPEAN |
PHARMACEUTICAL DISTRIBUTORS (REGISTERED NUMBER: 01801727) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST JULY 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
THE BRITISH ASSOCIATION OF EUROPEAN |
PHARMACEUTICAL DISTRIBUTORS |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST JULY 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
15a Station Road |
Epping |
Essex |
CM16 4HG |
THE BRITISH ASSOCIATION OF EUROPEAN |
PHARMACEUTICAL DISTRIBUTORS (REGISTERED NUMBER: 01801727) |
BALANCE SHEET |
31ST JULY 2023 |
2023 | 2022 |
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 |
RESERVES |
Retained earnings |
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 and authorised for issue on |
THE BRITISH ASSOCIATION OF EUROPEAN |
PHARMACEUTICAL DISTRIBUTORS (REGISTERED NUMBER: 01801727) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST JULY 2023 |
1. | STATUTORY INFORMATION |
The British Association of European Pharmaceutical Distributors is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net subscriptions receivable, excluding value added tax. |
Tangible fixed assets |
Office equipment | - |
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 |
THE BRITISH ASSOCIATION OF EUROPEAN |
PHARMACEUTICAL DISTRIBUTORS (REGISTERED NUMBER: 01801727) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST JULY 2023 |
4. | TANGIBLE FIXED ASSETS |
Office |
equipment |
£ |
COST |
At 1st August 2022 |
and 31st July 2023 |
DEPRECIATION |
At 1st August 2022 |
and 31st July 2023 |
NET BOOK VALUE |
At 31st July 2023 |
At 31st July 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Corporation tax |
Accruals and deferred income |
7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
8. | RELATED PARTY DISCLOSURES |
Mr R Freudenberg, a Director was paid £7,125 (2022- £45,750) in consultancy fees during the year and at the end of the year the association owed him £5,578 (2022 - £11,770). |
During the year, consultancy fees totalling £61,500 were paid to Marketing Medicines OTC Limited of which Mr A. D. Tittershill is a Director, at the end of the year the association owed them £17,214. |
Doncaster Pharmaceuticals Group Limited went into administration during the year and an outstanding balance of £2,720 was written off as a bad debt. Rent and telephone charges owed to Doncaster Pharmaceuticals Group Limited totalling £400 have been credited back to the expenses. |
THE BRITISH ASSOCIATION OF EUROPEAN |
PHARMACEUTICAL DISTRIBUTORS (REGISTERED NUMBER: 01801727) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST JULY 2023 |
9. | ULTIMATE CONTROLLING PARTY |
The company is run as an association and is under the control of its members. |
10. | RESERVES |
The Memorandum of the Association prohibits any distribution of reserves. |