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31/03/2023
2023-03-31
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No description of principal activities is disclosed
2022-04-01
Sage Accounts Production 21.0 - FRS102_2021
xbrli:pure
xbrli:shares
iso4217:GBP
08455647
2022-04-01
2023-03-31
08455647
2023-03-31
08455647
2021-04-01
2022-03-31
08455647
2022-03-31
08455647
core:PlantMachinery
2022-04-01
2023-03-31
08455647
core:MotorVehicles
2022-04-01
2023-03-31
08455647
bus:Director2
2022-04-01
2023-03-31
08455647
core:LandBuildings
core:ShortLeaseholdAssets
2022-03-31
08455647
core:FurnitureFittingsToolsEquipment
2022-03-31
08455647
core:MotorVehicles
2022-03-31
08455647
core:LandBuildings
core:ShortLeaseholdAssets
2023-03-31
08455647
core:FurnitureFittingsToolsEquipment
2023-03-31
08455647
core:MotorVehicles
2023-03-31
08455647
core:WithinOneYear
2023-03-31
08455647
core:WithinOneYear
2022-03-31
08455647
core:ShareCapital
2023-03-31
08455647
core:ShareCapital
2022-03-31
08455647
core:RevaluationReserve
2023-03-31
08455647
core:RevaluationReserve
2022-03-31
08455647
core:RetainedEarningsAccumulatedLosses
2023-03-31
08455647
core:RetainedEarningsAccumulatedLosses
2022-03-31
08455647
core:LandBuildings
core:ShortLeaseholdAssets
2022-04-01
2023-03-31
08455647
core:FurnitureFittingsToolsEquipment
2022-04-01
2023-03-31
08455647
core:CostValuation
core:Non-currentFinancialInstruments
2022-03-31
08455647
core:AdditionsToInvestments
core:Non-currentFinancialInstruments
2023-03-31
08455647
core:DisposalsRepaymentsInvestments
core:Non-currentFinancialInstruments
2023-03-31
08455647
core:Non-currentFinancialInstruments
core:RevaluationsIncreaseDecreaseInInvestments
2023-03-31
08455647
core:CostValuation
core:Non-currentFinancialInstruments
2023-03-31
08455647
core:Non-currentFinancialInstruments
2023-03-31
08455647
core:Non-currentFinancialInstruments
2022-03-31
08455647
core:FurtherSpecificIncreaseDecreaseInProvisionsForImpairmentInvestments1ComponentCorrespondingTotal
core:Non-currentFinancialInstruments
2023-03-31
08455647
core:LandBuildings
core:ShortLeaseholdAssets
2022-03-31
08455647
core:FurnitureFittingsToolsEquipment
2022-03-31
08455647
core:MotorVehicles
2022-03-31
08455647
bus:SmallEntities
2022-04-01
2023-03-31
08455647
bus:AuditExemptWithAccountantsReport
2022-04-01
2023-03-31
08455647
bus:FullAccounts
2022-04-01
2023-03-31
08455647
bus:SmallCompaniesRegimeForAccounts
2022-04-01
2023-03-31
08455647
bus:PrivateLimitedCompanyLtd
2022-04-01
2023-03-31
Company registration number:
08455647
Cumbria Medical Services Limited
Unaudited filleted financial accounts
For the year ended
31 March 2023
Cumbria Medical Services Limited
Contents
Statement of financial position
Notes to the financial accounts
Cumbria Medical Services Limited
Statement of financial position
31 March 2023
|
|
|
2023 |
|
|
|
2022 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Tangible assets |
|
4 |
66,438 |
|
|
|
92,618 |
|
|
Investments |
|
5 |
533,757 |
|
|
|
741,803 |
|
|
|
|
|
________ |
|
|
|
________ |
|
|
|
|
|
|
|
600,195 |
|
|
|
834,421 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Stocks |
|
|
6,900 |
|
|
|
6,100 |
|
|
Debtors |
|
6 |
1,104,588 |
|
|
|
931,335 |
|
|
Cash at bank and in hand |
|
|
167,934 |
|
|
|
161,744 |
|
|
|
|
|
________ |
|
|
|
________ |
|
|
|
|
|
1,279,422 |
|
|
|
1,099,179 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
7 |
(
204,611) |
|
|
|
(
245,451) |
|
|
|
|
|
________ |
|
|
|
________ |
|
|
Net current assets |
|
|
|
|
1,074,811 |
|
|
|
853,728 |
|
|
|
|
|
________ |
|
|
|
________ |
Total assets less current liabilities |
|
|
|
|
1,675,006 |
|
|
|
1,688,149 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities |
|
|
|
|
|
|
|
|
|
Deferred taxation |
|
|
|
|
(
13,394) |
|
|
|
(
14,997) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
________ |
|
|
|
________ |
Net assets |
|
|
|
|
1,661,612 |
|
|
|
1,673,152 |
|
|
|
|
|
________ |
|
|
|
________ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
|
|
|
1,051 |
|
|
|
1,050 |
Fair value reserve |
|
8 |
|
|
117,556 |
|
|
|
105,097 |
Profit and loss account |
|
8 |
|
|
1,543,005 |
|
|
|
1,567,005 |
|
|
|
|
|
________ |
|
|
|
________ |
Shareholders funds |
|
|
|
|
1,661,612 |
|
|
|
1,673,152 |
|
|
|
|
|
________ |
|
|
|
________ |
|
|
|
|
|
|
|
|
|
|
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial accounts for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial accounts.
These financial accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial accounts were approved by the
board of directors
and authorised for issue on
04 October 2023
, and are signed on behalf of the board by:
Dr M J White
Director
Company registration number:
08455647
Cumbria Medical Services Limited
Notes to the financial accounts
Year ended 31 March 2023
1.
Accounting policies
Statutory information
These financial accounts have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same financial statements.
Cumbria Medical Services Limited is a private company, limited by shares, domiciled in England and Wales, registration number
08455647
. The registered office is Oxford Chambers, New Oxford Street, Workington, CA14 2LR.
Basis of preparation
The financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A small entities. There were no material departures from that standard.
Turnover
Turnover consists of the sales value, excluding VAT, of all work done in the period under contracts to supply services to third parties. It includes the relevant proportion of contract values where work is partially performed in the period.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Tangible assets
Tangible fixed assets are included at cost less depreciation.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Plant and machinery |
- |
20 % |
straight line |
|
Motor vehicles |
- |
25 % |
straight line |
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially measured at fair value, which is normally the transaction price. Investments are subsequently carried at fair value with changes in fair value being recognised in the statement of comprehensive income.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are valued at the lower of cost and net realisable value.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model and the performance model.
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Deferred taxation
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for fixed asset investments which are measured at fair value, with changes recognised in the fair value reserve.
2.
Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2022: Nil).
3.
Income from other fixed asset investments
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Income from other fixed asset investments |
|
6,403 |
9,668 |
|
Profit on disposal of fixed asset investments |
|
(3,374) |
34,849 |
|
|
|
________ |
________ |
|
|
|
3,029 |
44,517 |
|
|
|
________ |
________ |
|
|
|
|
|
4.
Tangible assets
|
|
Short leasehold property |
Fixtures, fittings and equipment |
Motor vehicles |
Total |
|
|
|
|
|
£ |
£ |
£ |
£ |
|
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 April 2022 |
10,695 |
84,389 |
100,003 |
195,087 |
|
|
|
|
Additions |
740 |
12,137 |
- |
12,877 |
|
|
|
|
|
________ |
________ |
________ |
________ |
|
|
|
|
At 31 March 2023 |
11,435 |
96,526 |
100,003 |
207,964 |
|
|
|
|
|
________ |
________ |
________ |
________ |
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 April 2022 |
1,070 |
47,904 |
53,495 |
102,469 |
|
|
|
|
Charge for the year |
1,144 |
12,911 |
25,002 |
39,057 |
|
|
|
|
|
________ |
________ |
________ |
________ |
|
|
|
|
At 31 March 2023 |
2,214 |
60,815 |
78,497 |
141,526 |
|
|
|
|
|
________ |
________ |
________ |
________ |
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 31 March 2023 |
9,221 |
35,711 |
21,506 |
66,438 |
|
|
|
|
|
________ |
________ |
________ |
________ |
|
|
|
|
At 31 March 2022 |
9,625 |
36,485 |
46,508 |
92,618 |
|
|
|
|
|
________ |
________ |
________ |
________ |
|
|
|
|
|
|
|
|
|
|
|
|
5.
Investments
|
|
Other investments other than loans |
Total |
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
Cost or valuation |
|
|
|
|
|
|
|
At 1 April 2022 |
741,802 |
741,802 |
|
|
|
|
|
Additions |
19,072 |
19,072 |
|
|
|
|
|
Disposals |
(
224,582) |
(
224,582) |
|
|
|
|
|
Revaluations |
(
2,535) |
(
2,535) |
|
|
|
|
|
|
________ |
________ |
|
|
|
|
|
At 31 March 2023 |
533,757 |
533,757 |
|
|
|
|
|
|
________ |
________ |
|
|
|
|
|
Impairment |
|
|
|
|
|
|
|
At 1 April 2022 and 31 March 2023 |
- |
- |
|
|
|
|
|
|
________ |
________ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
At 31 March 2023 |
533,757 |
533,757 |
|
|
|
|
|
|
________ |
________ |
|
|
|
|
|
At 31 March 2022 |
741,802 |
741,802 |
|
|
|
|
|
|
________ |
________ |
|
|
|
|
|
|
|
|
|
|
|
|
Investments held at valuation
In respect of investments held at valuation, the comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:
|
|
Other investments other than loans |
Total |
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
At 31 March 2023 |
|
|
|
|
|
|
|
Aggregate cost |
416,201 |
416,201 |
|
|
|
|
|
Aggregate depreciation |
- |
- |
|
|
|
|
|
|
________ |
________ |
|
|
|
|
|
Carrying amount |
416,201 |
416,201 |
|
|
|
|
|
|
________ |
________ |
|
|
|
|
|
|
|
|
|
|
|
|
|
At 31 March 2022 |
|
|
|
|
|
|
|
Aggregate cost |
636,706 |
636,706 |
|
|
|
|
|
Aggregate depreciation |
- |
- |
|
|
|
|
|
|
________ |
________ |
|
|
|
|
|
Carrying amount |
636,706 |
636,706 |
|
|
|
|
|
|
________ |
________ |
|
|
|
|
|
|
|
|
|
|
|
|
6.
Debtors
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Trade debtors |
|
79,869 |
46,926 |
|
Other debtors |
|
1,024,719 |
884,409 |
|
|
|
________ |
________ |
|
|
|
1,104,588 |
931,335 |
|
|
|
________ |
________ |
|
|
|
|
|
7.
Creditors: amounts falling due within one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Trade creditors |
|
43,843 |
25,349 |
|
Corporation tax |
|
111,206 |
147,599 |
|
Other creditors |
|
49,562 |
72,503 |
|
|
|
________ |
________ |
|
|
|
204,611 |
245,451 |
|
|
|
________ |
________ |
|
|
|
|
|
8.
Reserves
The fair value reserve is in respect of the recognition of listed investments at market value. The fair value reserve is non distributable.
9.
Directors advances, credits and guarantees
During the year the company made advances to Dr F L Chaudhri, a director, totalling £1,395l (2022 - £nil). Repayments of £nil were made by 31 March 2023 and so the balance outstanding at the year end, 31 March 2023, was £2,800 (2022 - £1,405). During the year the company made advances to
Dr M J White
, a director, totalling £nil (2022 - £3, 618). Repayments of £31,122 were made by 31 March 2023 and so the balance outstanding at the year end, 31 March 2023, was £615,511 (2022 - £646,633). Where applicable, interest is charged on overdrawn loan accounts at the rate of 2% per annum, loans are repayable on demand.