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Registered number:
FOR THE YEAR ENDED 31 DECEMBER 2024
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EMOTIVE (AGENCY) LIMITED
COMPANY INFORMATION
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EMOTIVE (AGENCY) LIMITED
CONTENTS
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EMOTIVE (AGENCY) LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The director presents the Strategic Report for Emotive (Agency) Limited ("Emotive") for the year ended 31 December 2024.
Emotive is a successful, independent medical communications agency with its UK office in London and a subsidiary, Emotive Agency Inc. based in Boston, US. Our principal aim is to be the strategic medical communications agency partner of choice for global biotechnology and pharmaceutical companies. We provide strategy and tactical execution services across both medical & scientific affairs and creative brand engagement. As part of the Synaptiq Health network, we work in close collaboration with Initiate, a market access & HEOR consultancy and Beyond PR, a specialist healthcare PR & Advocacy agency.
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EMOTIVE (AGENCY) LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Having separated our PR & Advocacy division at the end of 2023 and amidst continuing challenges in the medical communications sector, the legacy medical communications arm of Emotive experienced solid growth of 3.1% on an adjusted underlying basis in 2024. In addition to strengthening our partnerships with existing clients, we saw significant growth of 687% in our US domestic business, successfully wining two new clients during the second half of the year. These additions will produce significant growth in 2025 and further augment our US capabilities and experience.
Throughout 2024, we took significant steps to streamline the agency and improve efficiency. These measures have led to an overall reduction in headcount across both core agency functions and shared services without any loss of our ability to service our clients fully and successfully. We have also almost entirely dispensed with the requirement for freelance support and maintained a stricter approach to salary increases and promotions in order to ensure that our capacity and skill-levels are fully aligned with the needs of our clients and work volume. As a result, although severance payments were recorded in the year, our gross and net profitability margin have improved and will continue to improve further in coming years. Despite this realignment, we remain a talent-led business and our commitment to strategic hiring where required and nurturing the right talent and skill base remains resolute. We remain proud of our continued, pro-bono support of Medics4Rare, a charity we began working with in 2019. Their mission of expanding awareness of rare disease within the medical profession to reduce the diagnostic odyssey, closely aligns with our own deep fulfilment from working in the rare disease field. In 2023, we delivered services across a number of areas and to date, Emotive have invested over £250,000 in pro-bono fees, supporting M4RD with a wide array of activities including fund-raising, annual symposia, ambassador engagement, student voice prizes, social media strategy, policy change and an extensive online learning platform. The agency continues to experience strong cashflows and maintains a solid cash balance on hand. The outstanding debt burden (2020 CBILS term loan from BoS) is minimal at less than 0.1 x Operational EBIT and will be fully repaid by mid-year 2025. Foreign exchange gains are realised when practical, based on exchange rate variances and local currency requirements. The directors will continue to monitor cash surpluses and future cash requirements to decide if this loan should be repaid ahead of schedule. Current cashflow forecasts, which allow for a degree of change and are sensitive to such, indicate that the company will have sufficient cash reserves to pay all obligations within 12 months of signing the financial statements. In summary, the director is pleased with the robust financial and operational performance achieved in 2024, highlighting the company's resilience and adaptability amidst a difficult market landscape. With a solid financial foundation, a talented team, and unwavering commitment to excellence, the company is strategically poised to seize forthcoming opportunities and foster sustainable growth in the foreseeable future. We move forward into 2025 cautious but confident in our team's ability to sustain superior margin performance and navigate evolving market conditions effectively, whilst guided by our key strategic imperatives; Growth, Efficiency and Team. We continue to evaluate the practical implementation of Artificial Intelligence (AI) that could help our both operational efficiency and client deliverables.
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EMOTIVE (AGENCY) LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
As a talent led business, the key risk to Emotive lies in the ability to attract and retain exceptional talent who are trained in the skills and have the right experience required. To mitigate this risk, we maintain a proactive approach by consistently benchmarking our salary packages across all positions and regularly reassessing our salary bandings. Scheduled pay reviews are conducted every six months to ensure alignment with appropriate bands for all team members. Additionally, we provide comprehensive benefits to sustain competitiveness in the market. We are committed to the continuing development of our team, providing them with a robust foundation for personal growth and career advancement. By aiming for high levels of productivity, ensuring optimal utilisation of team members and upwardly adjusting our fee rates for clients where possible, we are confident that the continued improvements on margins and profitability will be continued.
The second risk to the business remains around clients and their products. We look to mitigate this risk by aiming to maintain a balanced portfolio approach to our clients with no single client or therapy area/product/function accounting for more than 20% of our total fee revenue. We also seek to ensure that although we remain enthusiastic about pre-launch biotechnology and small pharma bringing novel products to market, our client base remains diverse, with established clients and oncology products at the forefront.
We consider that our key performance indicators are those that communicate the financial performance and strengths of the Company, those being sales growth, gross profit and operating margin:
Sales growth 3.1% (2023: 0.5%) (adjusted underlying medical communications division) Gross profit margin 51.5% (2023: 50%) Operating profit margin 17.3% (2023: 19%)
This report was approved by the board on 20 May 2025 and signed on its behalf.
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EMOTIVE (AGENCY) LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The director presents his report and the financial statements for the year ended 31 December 2024.
The director is responsible for preparing the Strategic report, the Director's report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the director is required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the year, after taxation, amounted to £1,044,320 (2023 - £364,260).
The dividends declared to shareholders were £150,000 (2023 - £60,000).
The director who served during the year was:
We will continue to focus on building and retaining a team who will deliver excellent quality work to the right client partners through the execution of our strategic plan. We will seek opportunities which may come through adding new services, potential acquisitions and expanding our overseas presence. We may also seek investment to further these ambitions if required.
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EMOTIVE (AGENCY) LIMITED
DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
On 31 January 2025, the company declared dividends to shareholders totalling £2,500,000.
The auditors, FLB Audit LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on 20 May 2025 and signed on its behalf.
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EMOTIVE (AGENCY) LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EMOTIVE (AGENCY) LIMITED
We have audited the financial statements of Emotive (Agency) Limited (the 'Company') for the year ended 31 December 2024, which comprise the Statement of income and retained earnings, the Balance sheet and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.
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EMOTIVE (AGENCY) LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EMOTIVE (AGENCY) LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The director is responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic report and the Director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic report and the Director's report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Director's report.
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EMOTIVE (AGENCY) LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EMOTIVE (AGENCY) LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
∙enquiring of management concerning actual and potential litigation and claims;
∙performing analytical procedures to identify any unusual results that may indicate risks of material misstatement due to fraud;
∙reading minutes of meetings;
∙assessing any management override of controls by testing journal entries and other adjustments and reviewing accounting estimates for indications of potential bias;
∙evaluating any transactions that are unusual or outside the normal course of business; and
∙maintaining alert to any fraud risks throughout the audit.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
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EMOTIVE (AGENCY) LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EMOTIVE (AGENCY) LIMITED (CONTINUED)
for and on behalf of
Chartered Accountants
Statutory Auditors
1010 Eskdale Road
Winnersh Triangle
RG41 5TS
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EMOTIVE (AGENCY) LIMITED
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 DECEMBER 2024
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EMOTIVE (AGENCY) LIMITED
REGISTERED NUMBER: 03766240
BALANCE SHEET
AS AT 31 DECEMBER 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 May 2025.
The notes on pages 12 to 30 form part of these financial statements.
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EMOTIVE (AGENCY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Emotive (Agency) Limited is a private company limited by shares. The company was incorporated in the United Kingdom and is registered in England and Wales. The registration number is 03766240. The registered office address is 1010 Eskdale Road, Winnersh Triangle, Wokingham, United Kingdom, RG41 5TS. The trading address is Holden House, 57 Rathbone Place, London, W1T 1JU.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d).
This information is included in the consolidated financial statements of Synaptiq Health Limited as at 31 December 2024 and these financial statements may be obtained from 1010 Eskdale Road, Winnersh Triangle, Wokingham, United Kingdom, RG41 5TS.
The Company is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of any part of the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 400 of the Companies Act 2006.
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EMOTIVE (AGENCY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Functional and presentation currency
Transactions and balances
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EMOTIVE (AGENCY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
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EMOTIVE (AGENCY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
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EMOTIVE (AGENCY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Goodwill
Other intangible assets
At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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EMOTIVE (AGENCY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of
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EMOTIVE (AGENCY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Sections 11 and 12 and the other presentation requirements of FRS 102.
Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Other financial assets
Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.
Impairment of financial assets
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
Financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the
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EMOTIVE (AGENCY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Other financial instruments
Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.
Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.
Derecognition of financial instruments
Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
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EMOTIVE (AGENCY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Depreciation and amortisation Tangible and intangible fixed assets are depreciated and amortised, respectively, over their useful economic lives. The actual lives of the assets are assessed annually and may vary depending on a range of factors. These factors include product life cycles, maintenance programs of the assets, as well as technological innovation. The applicable accounting policies detailing these areas are shown in note 2.13 and 2.14. Creditors, provisions, and liabilities These are recognised at the balance sheet date. Although these estimates are reviewed on a regular basis and adjusted to reflect management's best current estimates, the judgemental nature of these items means that future amounts settled may be different from those provided. The deferred consideration payable by the company is based on certain performance targets being met. Management's best estimate has been used to judge the likelihood of these targets being met. Valuation of investments Investments are recognised at cost less impairment. The recoverable amount of the investment is used to determine if an impairment is required. Calculating the recoverable amount requires an estimate of future cash flows expected to arise, and this amount involves the judgement of management. Turnover Revenue from services is accounted for using the stage of completion method. An estimate must be made by management of the stage of completion on projects. Bad debt provision Bad debts are provided when recoverability is considered to be doubtful.
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EMOTIVE (AGENCY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
The whole of the turnover is attributable to healthcare communications consultancy.
Analysis of turnover by country of destination:
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EMOTIVE (AGENCY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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EMOTIVE (AGENCY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page 23
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EMOTIVE (AGENCY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
11.Taxation (continued)
There were no factors that may affect future tax charges.
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EMOTIVE (AGENCY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page 25
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EMOTIVE (AGENCY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page 26
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EMOTIVE (AGENCY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page 27
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EMOTIVE (AGENCY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page 28
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EMOTIVE (AGENCY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Profit and loss account
The company operated a defined contributions pension scheme. The assets of the pension 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 £190,373 (2023: £293,109). Contributions totalling £26,710 (2023: £23,935) were payable to the fund at the balance sheet date and are included in other creditors.
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EMOTIVE (AGENCY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
The ultimate controlling party is Consolidated Group financial statements for Ceriter Investments 2 Limited and Synaptiq Health Limited can be obtained from
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