ACCOUNTS - Final Accounts preparation

ECLINICAL FORUM LIMITED - Company Information

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Registered number: 10076719

ECLINICAL FORUM LIMITED

(A COMPANY LIMITED BY GUARANTEE)

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE 13 MONTHS ENDED 31 DECEMBER 2017

ECLINICAL FORUM LIMITED

(A COMPANY LIMITED BY GUARANTEE)

REGISTERED NUMBER:10076719

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2017

		2017
Note		£


CURRENT ASSETS
Debtors: amounts falling due within one year	4	266,030
Cash at bank and in hand		20,225
		286,255
Creditors: amounts falling due within one year	5	(329,173)
NET CURRENT LIABILITIES			(42,918)
TOTAL ASSETS LESS CURRENT LIABILITIES			(42,918)

NET LIABILITIES			(42,918)

CAPITAL AND RESERVES
Income and expenditure account			(42,918)
			(42,918)

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the 13 months in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Richard Perkins

Director

Date: 17 September 2018

The notes on pages 2 to 4 form part of these financial statements.

Page 1

ECLINICAL FORUM LIMITED

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE 13 MONTHS ENDED 31 DECEMBER 2017

1.	GENERAL INFORMATION

eClinical Forum Limited is a private company, limited by guarantee, incorporated and registered in England within the United Kingdom. The registered office is 16 Queen Square, Bristol, BS1 4NT and the registered number is 10076719.

2.ACCOUNTING POLICIES

2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

Information on the impact of first time adoption of FRS 102 is given in note 7.

The following principal accounting policies have been applied:

2.2

GOING CONCERN

The membership organisations have considered the ability to continue as a going concern and believe this to be an appropriate basis on which to prepare accounts.

2.3

REVENUE

Membership income is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Membership income is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Membership income is recognised in the period covered by the subscription.

2.4

DEBTORS

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.5

CREDITORS

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.6

FINANCIAL INSTRUMENTS

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

2.7

INTEREST INCOME

Interest income is recognised in the Statement of income and retained earnings using the effective interest method.

Page 2

ECLINICAL FORUM LIMITED

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE 13 MONTHS ENDED 31 DECEMBER 2017

2.ACCOUNTING POLICIES (continued)

2.8

FOREIGN CURRENCY TRANSLATION

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

EMPLOYEES

The average monthly number of employees, including directors, during the 13 months was 9.

DEBTORS

					2017
					£


	Membership fees	256,789
	Other debtors	407
	Prepayments and accrued income	8,834
		266,030

5.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		2017
		£

	Accruals and deferred income	329,173
		329,173


6.	COMPANY STATUS

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

Page 3

ECLINICAL FORUM LIMITED

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE 13 MONTHS ENDED 31 DECEMBER 2017

7.	FIRST TIME ADOPTION OF FRS 102 The policies applied under the entity's previous accounting framework are not materially different to FRS 102 and have not impacted on equity or profit or loss.

Page 4