REGISTERED NUMBER: 01801727 (England and Wales)

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JULY 2025

FOR

THE BRITISH ASSOCIATION OF EUROPEAN

PHARMACEUTICAL DISTRIBUTORS

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Dr A. D. Tittershill

R. E. Freudenberg

R. S. Haria

P. J. Tobin

P Sandhu

S M Ritson

SECRETARY:

Dr A. D. Tittershill

REGISTERED OFFICE:

15a Station Road

Epping

Essex

CM16 4HG

REGISTERED NUMBER:

01801727 (England and Wales)

AUDITORS:

Cobbin Floyd Ltd

Chartered Accountants Statutory Auditors

15a Station Road

Epping

Essex

CM16 4HG

FIXED ASSETS

Tangible assets

4

2

2

CURRENT ASSETS

Debtors

171,556

209,754

Cash at bank

102,159

207,204

273,715

416,958

CREDITORS

Amounts falling due within one year

(179,765

)

(319,665

)

NET CURRENT ASSETS

93,950

97,293

TOTAL ASSETS LESS CURRENT LIABILITIES

93,952

97,295

RESERVES

Retained earnings

93,952

97,295

93,952

97,295

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st July 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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 12th November 2025 and were signed on its behalf by:

Dr A. D. Tittershill - Director

R. E. Freudenberg - Director

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.

Membership subscriptions are recognised as revenue when invoiced, this is the point at which :

- the member becomes legally obligated to pay

- the association's performance obligation is deemed to be satisfied through granting access to membership benefits, resources and participation rights, and

- the amount of consideration is measurable and collectability is reasonably assured

Where a subscription covers a period extending beyond the financial year end, an apportionment is made and the income relating to future periods is deferred.

Tangible fixed assets

Recognition

Tangible fixed assets are recognised when:

- it is probable that future economic benefits or service potential associated with the asset will flow to the association;

- the asset has a cost or value that can be measured reliably; and

- the asset has an expected useful life of more than one year.

- Items of low value, or those meeting the association's capitalisation threshold, are expensed in the year of acquisition.

Measurement at Initial Recognition

Fixed assets are measured at cost on initial recognition. Cost includes the purchase price (net of any trade discounts)

Subsequent Measurement

Fixed assets are carried at cost less accumulated depreciation and any accumulated impairment losses.

Revaluation is not generally applied unless otherwise stated.

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 6 (2024 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st August 2024

and 31st July 2025

1,150

DEPRECIATION

At 1st August 2024

and 31st July 2025

1,148

NET BOOK VALUE

At 31st July 2025

2

At 31st July 2024

2

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

The Report of the Auditors was unqualified.

Natalie Floyd, ACA (Senior Statutory Auditor)

for and on behalf of Cobbin Floyd Ltd

6.	RELATED PARTY DISCLOSURES

Mr R Freudenberg, a Director was paid £3,950 (2024- £4,750) in consultancy fees during the year and at the end of the year the association owed him £2,450 (2024 - £1,128).

During the year, consultancy fees totalling £78,750 (2024 - £76,250) 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 £17,006 (2024 - £17,213).

7.	ULTIMATE CONTROLLING PARTY

The company is run as an association and is under the control of its members.

8.

RESERVES

The Memorandum of the Association prohibits any distribution of reserves.