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REGISTERED NUMBER: 01801727 (England and Wales)










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: A. D. Tittershill, Esq.
J. I. Jimenez, Esq
R. E. Freudenberg, Esq.
A. P. Stafford, Esq
C. Baird, Esq
C. R. Falzon, Esq
R. S. Haria, Esq





SECRETARY: A. D. Tittershill, Esq.





REGISTERED OFFICE: 15a Station Road
Epping
Essex
CM16 4HG





REGISTERED NUMBER: 01801727 (England and Wales)





AUDITORS: Cobbin Floyd Ltd
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 2 2

CURRENT ASSETS
Debtors 5 110,163 113,121
Cash at bank 89,454 78,154
199,617 191,275
CREDITORS
Amounts falling due within one year 6 (115,278 ) (124,877 )
NET CURRENT ASSETS 84,339 66,398
TOTAL ASSETS LESS CURRENT
LIABILITIES

84,341

66,400

RESERVES
Retained earnings 84,341 66,400
84,341 66,400

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 15th November 2023 and were signed on its behalf by:




A. D. Tittershill, Esq. - Director



R. E. Freudenberg, Esq. - Director


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 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.

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.

Turnover
Turnover represents net subscriptions receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 33% on cost

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 7 (2022 - 7 ) .

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 1,150
DEPRECIATION
At 1st August 2022
and 31st July 2023 1,148
NET BOOK VALUE
At 31st July 2023 2
At 31st July 2022 2

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 3,264
Other debtors 110,163 109,857
110,163 113,121

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 43,191 54,216
Corporation tax 192 170
Accruals and deferred income 71,895 70,491
115,278 124,877

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr S Cobbin, FCA (Senior Statutory Auditor)
for and on behalf of Cobbin Floyd Ltd

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.