EUROPEAN ALLIANCE FOR ACCESS TO SAFE MEDICINES COMMUNITY INTEREST COMPANY

Company limited by guarantee

Company Registration Number:
06384429 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2023

Period of accounts

Start date: 1 January 2023

End date: 31 December 2023

EUROPEAN ALLIANCE FOR ACCESS TO SAFE MEDICINES COMMUNITY INTEREST COMPANY

Contents of the Financial Statements

for the Period Ended 31 December 2023

Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

EUROPEAN ALLIANCE FOR ACCESS TO SAFE MEDICINES COMMUNITY INTEREST COMPANY

Balance sheet

As at 31 December 2023

Notes 2023 2022


£

£
Current assets
Cash at bank and in hand: 1,632 4,616
Total current assets: 1,632 4,616
Creditors: amounts falling due within one year: 3 ( 2,214 ) ( 5,035 )
Net current assets (liabilities): (582) (419)
Total assets less current liabilities: (582) ( 419)
Total net assets (liabilities): (582) (419)
Members' funds
Profit and loss account: (582) ( 419)
Total members' funds: ( 582) (419)

The notes form part of these financial statements

EUROPEAN ALLIANCE FOR ACCESS TO SAFE MEDICINES COMMUNITY INTEREST COMPANY

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 6 August 2024
and signed on behalf of the board by:

Name: M P Isles
Status: Director

The notes form part of these financial statements

EUROPEAN ALLIANCE FOR ACCESS TO SAFE MEDICINES COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

EUROPEAN ALLIANCE FOR ACCESS TO SAFE MEDICINES COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 2 2

EUROPEAN ALLIANCE FOR ACCESS TO SAFE MEDICINES COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Creditors: amounts falling due within one year note

2023 2022
£ £
Other creditors 2,214 5,035
Total 2,214 5,035

COMMUNITY INTEREST ANNUAL REPORT

EUROPEAN ALLIANCE FOR ACCESS TO SAFE MEDICINES COMMUNITY INTEREST COMPANY

Company Number: 06384429 (England and Wales)

Year Ending: 31 December 2023

Company activities and impact

The EAASM has had another successful year, and has fulfilled its CIC obligations admirably, and the Summer newsletter highlights this and can be found at www.eaasm.eu. The EAASM continues its major medication error and traceability patient safety project with the aim to significantly reduce medication errors by enhancing traceability processes. A Scientific Committee was further consulted on the generation of the comprehensive survey established along with a growing number of academic and hospital/healthcare organisations (now numbering 21). The project has its own website and the completed pan EU survey across 13 countries including the private hospital association has been kept extant. The results have contributed to a Call to Action White Paper within the EU institutions - mainly DG Sante. A round table was held in March 2022 to publicise the results of the survey and to commence the Call to Action. A comprehensive website has now been established (www.ECA-MET.EU). The EAASM is advocating for the inclusion of measures to reduce medication errors within various EU instruments such as the new EU pharmaceutical strategy and its attached legislation. More recently, a new White Paper was published highlighting the dangers of staff shortage and burn out by nurses in the area of oncology and how this will increase the risk of medication errors. The EAASM continues to be actively involved with the EU Parlimant and attends relevant meetings and contributes to healthcare debates in the Parliament bringing together MEPs, Commission and the Council. The EAASM continues to support the objectives and recommendations for the Pharmaceutical Strategy for Europe with the EU healthcare Coalition to which it is a partner. The EAASM recalls that the internet is the largest unregulated pharmaceutical marketplace in the world, with 62% of medicines purchased online being falsified or substandard with 95.6% of online pharmacies researched operating illegally. The EAASM calls on the European Commission and the Member States to build on the introduction of the Common Logo for online pharmacies (Implementing Regulation No 699/2014) and to extend it to a Europe-wide protocol for licensing online pharmacies which could potentially align with the pre-qualifications of the .pharmacy domain suffix, which is well governed by the National Association of Boards of Pharmacy. Whilst the DOTPharmacy NABP top level domain name initiative largely resides within the ASOP EU Company, the EAASM continues to support this important activity. Recently, a survey has been sent to those responsible for the administration of the Falsified Medicines Directive - the Common Logo. It will use the results to advocate for greater education of the public as to falsified medicines and also what the Common Logo stands for. The EAASM during 2023 continues its strong advocacy work to effect change of legislation so that nanomedicines and nonosimilars should be assesses by an EMA centralised procedure. In this regard, the EAASM along with the nanomedicines coalition achieved two important amendments in the EU Parliament Own Initiative Report. A number of meetings have been held with DG Sante to raise awareness about this subject which has patient safety implications. Following on from the EU Parliment Round Table, the nanomedicines coalition website still provides a useful presence for this patient safety initiative. The personal email from DG Sante confirmed that the GPL had in fact been charged to cover our patient safety requirements. In 2023, a survey was carried out in a number of EU Member States to understand the existing knowledge around nanomedicines and nanosimilars. This survey has been written and will be submitted to an appropriate scientific journal.

Consultation with stakeholders

The above mentioned topics and activites have been communicated to its members and the EAASM board (a board meeting was held on 21 June 2024) to review and agree the above activities and concomitant objectives. communication regarding funding takes place with its members every year.

Directors' remuneration

No remuneration was received

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
12 August 2024

And signed on behalf of the board by:
Name: M P Isles
Status: Director