Company Registration No. 04634899 (England and Wales)
STATISTICIANS IN THE PHARMACEUTICAL INDUSTRY LIMITED
REPORT OF THE DIRECTORS AND AUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
3 Acorn Business Centre
Northarbour Road
Cosham
Portsmouth
Hampshire
PO6 3TH
STATISTICIANS IN THE PHARMACEUTICAL INDUSTRY LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2
Notes to the financial statements
3 - 6
STATISTICIANS IN THE PHARMACEUTICAL INDUSTRY LIMITED
COMPANY INFORMATION
- 1 -
Directors
D Wright
A Flynn
K Hacquoil
A Bedding
K Taylor
(Appointed 13 June 2023)
J Gilbride
(Appointed 18 June 2024)
A Aylott
(Appointed 18 June 2024)
N GIvens
(Appointed 18 June 2024)
A McPartlane
(Appointed 18 June 2024)
Company number
04634899
Registered office
c/o MCI UK
Building 4000, Langstone Park
Langstone Road
Havant
PO9 1SA
Auditor
TC Group
3 Acorn Business Centre
Northarbour Road
Cosham
Portsmouth
Hampshire
PO6 3TH
STATISTICIANS IN THE PHARMACEUTICAL INDUSTRY LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
4
286,893
134,572
Cash at bank and in hand
563,611
486,214
850,504
620,786
Creditors: amounts falling due within one year
5
(231,824)
(164,634)
Net current assets
618,680
456,152
Reserves
Income and expenditure account
618,680
456,152

The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true

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

The financial statements were approved by the board of directors and authorised for issue on 25 June 2024 and are signed on its behalf by:
D Wright
PSI Chair and Director
Company Registration No. 04634899
The notes on pages 3 to 6 form part of these financial statements
STATISTICIANS IN THE PHARMACEUTICAL INDUSTRY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information

Statisticians in the Pharmaceutical Industry Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is c/o MCI UK, Building 4000, Langstone Park, Langstone Road, Havant, PO9 1SA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Income

Revenue is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Revenue arises from the following activities:

 

Subscriptions

Revenue is recognised in the accounting period in which the subscription period relates to. The subscription period runs in line with the financial year and members paying for following year subscriptions are included in deferred income.

 

Conference, Training and Scientific Income

Revenue from training courses and conferences is recognised in the accounting period in which the event takes place.

1.3
Financial instruments

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

STATISTICIANS IN THE PHARMACEUTICAL INDUSTRY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
Basic financial liabilities

Basic financial liabilities, comprising creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.4
Taxation

Taxation for the year comprises current and deferred tax.

 

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

 

Deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised.

1.5
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the income and expenditure account for the period.

2
Employees

The average monthly number of persons employed by the company during the year was 0 (2022 - 0).

3
Taxation

The company has estimated tax losses of £95,000 (2022: £95,000) available for carry forward against taxable profits which arise from trading activities. No deferred tax asset has been provided in respect of the future use of these losses.

 

STATISTICIANS IN THE PHARMACEUTICAL INDUSTRY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Service charges due
141,831
109,297
Other debtors
145,062
25,275
286,893
134,572
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
13,495
12,218
Other creditors
218,329
152,416
231,824
164,634
6
Members' liability

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £10.

7
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
James Blake FCA
Statutory Auditor:
TC Group
8
Financial commitments, guarantees and contingent liabilities

The company have entered into a contract with MCI UK Limited for the provision of management services. At the balance sheet date the remaining minimum contractual commitment under the contract was £33,750 (2022 - £67,500)

STATISTICIANS IN THE PHARMACEUTICAL INDUSTRY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
9
Related party transactions

During the year there were no transactions with related parties that were not conducted under normal market conditions.

2023-12-312023-01-01false03 July 2024CCH SoftwareCCH Accounts Production 2024.200No description of principal activityThis audit opinion is unqualifiedD WrightC FletcherR LawranceA CrispK TsirtsonisM ElzeA FlynnK HacquoilA BeddingK TaylorMs Fiona C BrockJ GilbrideA AylottN GIvensA McPartlanefalsefalse046348992023-01-012023-12-3104634899bus:Director12023-01-012023-12-3104634899bus:Director72023-01-012023-12-3104634899bus:Director82023-01-012023-12-3104634899bus:Director92023-01-012023-12-3104634899bus:Director102023-01-012023-12-3104634899bus:Director122023-01-012023-12-3104634899bus:Director132023-01-012023-12-3104634899bus:Director142023-01-012023-12-3104634899bus:Director152023-01-012023-12-3104634899bus:Director22023-01-012023-12-3104634899bus:Director32023-01-012023-12-3104634899bus:Director42023-01-012023-12-3104634899bus:Director52023-01-012023-12-3104634899bus:Director62023-01-012023-12-3104634899bus:Director112023-01-012023-12-3104634899bus:RegisteredOffice2023-01-012023-12-31046348992023-12-31046348992022-12-3104634899core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3104634899core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3104634899core:CurrentFinancialInstruments2023-12-3104634899core:CurrentFinancialInstruments2022-12-3104634899core:RetainedEarningsAccumulatedLosses2023-12-3104634899core:RetainedEarningsAccumulatedLosses2022-12-3104634899core:WithinOneYear2023-12-3104634899core:WithinOneYear2022-12-3104634899bus:CompanyLimitedByGuarantee2023-01-012023-12-3104634899bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3104634899bus:FRS1022023-01-012023-12-3104634899bus:Audited2023-01-012023-12-3104634899bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP