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REGISTERED NUMBER: 07809365 (England and Wales)















GP MEDICALS (PRESTON) LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022






GP MEDICALS (PRESTON) LTD (REGISTERED NUMBER: 07809365)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022










Page

Balance Sheet 1

Notes to the Financial Statements 3


GP MEDICALS (PRESTON) LTD (REGISTERED NUMBER: 07809365)

BALANCE SHEET
31 OCTOBER 2022

2022 2021
Notes £    £   
Fixed assets
Tangible assets 3 964 1,954
Investments 4 609,172 757,053
610,136 759,007

Current assets
Debtors 5 10,440 40,020
Cash at bank 992,006 798,106
1,002,446 838,126
Creditors
Amounts falling due within one year 6 (225,099 ) (184,739 )
Net current assets 777,347 653,387
Total assets less current liabilities 1,387,483 1,412,394

Provisions for liabilities (183 ) (3,649 )
Net assets 1,387,300 1,408,745

Capital and reserves
Called up share capital 100 100
Retained earnings 1,387,200 1,408,645
1,387,300 1,408,745

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

GP MEDICALS (PRESTON) LTD (REGISTERED NUMBER: 07809365)

BALANCE SHEET - continued
31 OCTOBER 2022


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

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 17 October 2023 and were signed on its behalf by:





Mr Mohammed Shoaib Hafejee - Director


GP MEDICALS (PRESTON) LTD (REGISTERED NUMBER: 07809365)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022


1. 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Fixtures & fittings25% straight line method

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Valuation of investments
Investments in listed company shares, which have been classified as fixed asset investments, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

2. Employees and directors

The average number of employees during the year was 2 (2021 - 2 ) .

GP MEDICALS (PRESTON) LTD (REGISTERED NUMBER: 07809365)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2022


3. Tangible fixed assets
Plant and
machinery
etc
£   
Cost
At 1 November 2021
and 31 October 2022 5,242
Depreciation
At 1 November 2021 3,288
Charge for year 990
At 31 October 2022 4,278
Net book value
At 31 October 2022 964
At 31 October 2021 1,954

4. Fixed asset investments
Other
investment
£   
Cost or valuation
At 1 November 2021 757,053
Impairments (147,881 )
At 31 October 2022 609,172
Net book value
At 31 October 2022 609,172
At 31 October 2021 757,053

Cost or valuation at 31 October 2022 is represented by:

Other
investment
£   
Valuation in 2021 (148,799 )
Cost 757,971
609,172

5. Debtors: amounts falling due within one year
2022 2021
£    £   
Trade debtors 10,440 40,020

GP MEDICALS (PRESTON) LTD (REGISTERED NUMBER: 07809365)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2022


6. Creditors: amounts falling due within one year
2022 2021
£    £   
Taxation and social security 45,320 45,269
Other creditors 179,779 139,470
225,099 184,739

7. Related party disclosures

At 31 October 2022 the company owed the directors £175,458 (2021: £138,450). No interest has been charged to the company in respect of this loan which is repayable on demand and classified in creditors due within one year.