IRIS Accounts Production v23.1.5.20 01270433 Board of Directors 1.1.22 31.12.22 31.12.22 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure012704332021-12-31012704332022-12-31012704332022-01-012022-12-31012704332020-12-31012704332021-01-012021-12-31012704332021-12-3101270433ns16:EnglandWales2022-01-012022-12-3101270433ns15:PoundSterling2022-01-012022-12-3101270433ns11:Director12022-01-012022-12-3101270433ns11:PrivateLimitedCompanyLtd2022-01-012022-12-3101270433ns11:SmallEntities2022-01-012022-12-3101270433ns11:AuditExempt-NoAccountantsReport2022-01-012022-12-3101270433ns11:SmallCompaniesRegimeForDirectorsReport2022-01-012022-12-3101270433ns11:SmallCompaniesRegimeForAccounts2022-01-012022-12-3101270433ns11:FullAccounts2022-01-012022-12-310127043312022-01-012022-12-3101270433ns11:Director22022-01-012022-12-3101270433ns11:CompanySecretary12022-01-012022-12-3101270433ns11:RegisteredOffice2022-01-012022-12-3101270433ns6:CurrentFinancialInstruments2022-12-3101270433ns6:CurrentFinancialInstruments2021-12-3101270433ns6:Non-currentFinancialInstruments2022-12-3101270433ns6:Non-currentFinancialInstruments2021-12-3101270433ns6:ShareCapital2022-12-3101270433ns6:ShareCapital2021-12-3101270433ns6:SharePremium2022-12-3101270433ns6:SharePremium2021-12-3101270433ns6:RetainedEarningsAccumulatedLosses2022-12-3101270433ns6:RetainedEarningsAccumulatedLosses2021-12-3101270433ns6:NetGoodwill2022-01-012022-12-3101270433ns6:LandBuildings2022-01-012022-12-3101270433ns6:PlantMachinery2022-01-012022-12-3101270433ns6:NetGoodwill2021-12-3101270433ns6:NetGoodwill2022-12-3101270433ns6:NetGoodwill2021-12-3101270433ns6:LandBuildings2021-12-3101270433ns6:PlantMachinery2021-12-3101270433ns6:LandBuildings2022-12-3101270433ns6:PlantMachinery2022-12-3101270433ns6:LandBuildings2021-12-3101270433ns6:PlantMachinery2021-12-3101270433ns6:WithinOneYearns6:CurrentFinancialInstruments2022-12-3101270433ns6:WithinOneYearns6:CurrentFinancialInstruments2021-12-3101270433ns6:Non-currentFinancialInstruments2022-01-012022-12-31
REGISTERED NUMBER: 01270433 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2022

for

Life Science Communications Limited

Life Science Communications Limited (Registered number: 01270433)






Contents of the Financial Statements
for the year ended 31 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Life Science Communications Limited

Company Information
for the year ended 31 December 2022







DIRECTORS: V Tracz
A G Crompton





SECRETARY: A G Crompton





REGISTERED OFFICE: First Floor
Healthaid House
Marlborough Hill
Harrow
Middlesex
HA1 1UD





REGISTERED NUMBER: 01270433 (England and Wales)





ACCOUNTANTS: Grant Harrod Lerman Davis LLP
Chartered Accountants
1st Floor
Healthaid House
Marlborough Hill
Harrow
Middlesex
HA1 1UD

Life Science Communications Limited (Registered number: 01270433)

Balance Sheet
31 December 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 - 51,749
- 51,749

CURRENT ASSETS
Debtors 6 16,004 330,680
Cash at bank and in hand 54,669 245,250
70,673 575,930
CREDITORS
Amounts falling due within one year 7 13,490 216,955
NET CURRENT ASSETS 57,183 358,975
TOTAL ASSETS LESS CURRENT
LIABILITIES

57,183

410,724

CREDITORS
Amounts falling due after more than one
year

8

1,538,379

1,514,263
NET LIABILITIES (1,481,196 ) (1,103,539 )

CAPITAL AND RESERVES
Called up share capital 120 120
Share premium 28,697 28,697
Retained earnings (1,510,013 ) (1,132,356 )
(1,481,196 ) (1,103,539 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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.

Life Science Communications Limited (Registered number: 01270433)

Balance Sheet - continued
31 December 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 27 September 2023 and were signed on its behalf by:





A G Crompton - Director


Life Science Communications Limited (Registered number: 01270433)

Notes to the Financial Statements
for the year ended 31 December 2022

1. STATUTORY INFORMATION

Life Science Communications 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

At the balance sheet date and at the time of signing these accounts, the directors have considered the the going concern position, and are satisfied that the company can continue to trade for a period of at least 12 months from the date of signing these accounts.

Therefore, the directors have prepared these financial statements on a going concern basis.

Significant judgements and estimates
The preparation of the financial statements in conformity with generally accepted accounting principles requires the directors to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results in the future could differ from those estimates. In this regard, the directors believe that the critical accounting policies where judgements or estimations are necessarily applied are summarised below.

- Intercompany recharges

The directors review the expenditure of the company each year for recharges to other connected companies. The precise amounts of the recharges are determined using consistent policies, but the proper application to the amount chargeable to each company and the policies themselves rely on judgements according to circumstances.

- Depreciation and residual value

The directors have reviewed the asset lives and associated residual values of all fixed assets, and have concluded that asset lives and residual values are appropriate.

- Goodwill and intangible assets

The group establishes a reliable estimate of the useful life of goodwill and intangible assets arising on business combinations. This estimate is based on a variety of factors such as the expected use of the acquired business, the expected usual life of the cash generating units to which the goodwill is attributed, any legal, regulatory or contractual provisions that can limit useful life and assumptions that market participants would consider in respect of similar businesses.

Turnover
Turnover represents income recognised by the company in respect of central administrative services supplied during the year, net of value added tax and trade discounts. It is recognised in the period to which it relates.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of five years.

Life Science Communications Limited (Registered number: 01270433)

Notes to the Financial Statements - continued
for the year ended 31 December 2022

2. ACCOUNTING POLICIES - continued

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.
Land and buildings - 10% Straight line
Plant and machinery etc - 20% on cost and Straight line over 3 years

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; however, 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.

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.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Preference shares
Under FRS 102, the preference shares have been shown at cost and have not been discounted at the relevant interest rate as they are not considered to be loans and therefore there is no interest. Preference share capital is treated as long-term debt.

Going concern
The financial statements have been prepared under the going concern basis which assumes that the company has sufficient resources to enable it to continue to operate for the foreseeable future.

The main form of funding for the company's operations is through preference shares. The preference shares are treated as debt, in accordance with FRS102 (see note above), but are not capable of being redeemed otherwise than out of profits available for distribution. In addition, the ultimate controlling party has, without creating a contractual obligation, indicated his intention to continue providing such additional funding as may be required to enable the company to meet its liabilities as they fall due and to continue to operate for the foreseeable future.

The directors, who include the aforementioned ultimate controlling party, are therefore satisfied that the going concern basis is appropriate for the preparation of these financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2021 - 9 ) .

Life Science Communications Limited (Registered number: 01270433)

Notes to the Financial Statements - continued
for the year ended 31 December 2022

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2022 76,585
Disposals (76,585 )
At 31 December 2022 -
AMORTISATION
At 1 January 2022 76,585
Eliminated on disposal (76,585 )
At 31 December 2022 -
NET BOOK VALUE
At 31 December 2022 -
At 31 December 2021 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2022 34,818 435,745 470,563
Additions - 5,469 5,469
Disposals (34,818 ) (441,214 ) (476,032 )
At 31 December 2022 - - -
DEPRECIATION
At 1 January 2022 24,211 394,603 418,814
Charge for year 2,303 14,890 17,193
Eliminated on disposal (26,514 ) (409,493 ) (436,007 )
At 31 December 2022 - - -
NET BOOK VALUE
At 31 December 2022 - - -
At 31 December 2021 10,607 41,142 51,749

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Other debtors 16,004 330,680

Life Science Communications Limited (Registered number: 01270433)

Notes to the Financial Statements - continued
for the year ended 31 December 2022

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 7 -
Trade creditors (1 ) 16,235
Taxation and social security 11,500 89,572
Other creditors 1,984 111,148
13,490 216,955

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Other creditors 1,538,379 1,514,263

Included within the other creditors balance is £1,338,378 owed to a director (2021 - £1,314,263) and £200,000 (2021 - £200,000) of preference share capital held by a company under common control of that director.

9. PENSION COMMITMENTS

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £5,825 (2021 - 46,912). At the balance sheet date contributions owed amounted to £NIL (2021 - £1,044).

10. RELATED PARTY DISCLOSURES

At the year end Life Science Communications Limited owed £1,338,378 (2021: £1,314,205) to Vitek Tracz a director of the company and the ultimate owner of the group of companies. This amount is included in Other creditors due after one year.

During the year the company recharged expenses amounting to £261,653 (2021: £677,922) to Faculty Opinions Limited, £353,787 (2021: £677,922) to Sciwheel Limited & £28,445 (2021: £33,639.35) to Web Of Stories Limited.

Life Science Communications Limited acts as a central services company and property manager for a number of connected companies. The whole of the turnover and other operating income arises from the recharge of costs incurred by the company and recharged in a fair and consistent manner to connected companies under similar ultimate control.