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Oxfordshire Colorectal Surgery Ltd
Filleted accounts
30 June 2023
Company registration number: SC360930
Oxfordshire Colorectal Surgery Ltd
Directors and other information
Directors Emma Coleman-Jones
Oliver Matthew Jones
Company number SC360930
Registered office Mountview
Church Street
Freuchie, Cupar
Fife
KY15 7ER
Accountants Cox Hinkins & Co. Limited
Accountants and Taxation Advisors
The Old Dairy
12 Stephen Road
Headington
Oxford
OX3 9AY
Oxfordshire Colorectal Surgery Ltd
Balance sheet
30th June 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 2,709 2,165
Investments 6 691,320 378,153
_______ _______
694,029 380,318
Current assets
Debtors 7 74,535 73,011
Cash at bank and in hand 239,635 232,501
_______ _______
314,170 305,512
Creditors: amounts falling due
within one year 8 ( 115,006) ( 113,916)
_______ _______
Net current assets 199,164 191,596
_______ _______
Net assets 893,193 571,914
_______ _______
Capital and reserves
Called up share capital 9 13 13
Profit and loss account 893,180 571,901
_______ _______
Shareholders funds 893,193 571,914
_______ _______
For the year ending 30 June 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 statements 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 statements.
These financial statements 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 Profit & loss account has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 03 March 2024 , and are signed on behalf of the board by:
Oliver Matthew Jones
Director
Company registration number: SC360930
Oxfordshire Colorectal Surgery Ltd
Notes to the financial statements
Year ended 30th June 2023
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Mountview, Church Street, Freuchie, Cupar, Fife, KY15 7ER. There was no significant change in the company's principal activity during the year which continued to be the provision of medical services.
2. Statement of compliance
These financial statements 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'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The principal accounting policies are set out below. The financial statements are prepared in sterling which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for services rendered net of discounts and Value Added Tax. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in the profit and loss account, 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 not recognised in respect of any timing differences at the reporting date as all are insignificant. Unrelieved tax losses and other deferred tax assets are not recognised as it is uncertain when they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 20 % reducing balance
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 recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
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.
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.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractualarrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the asset of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2022: 2 ).
5. Tangible assets
Plant and machinery Total
£ £
Cost
At 1st July 2022 3,363 3,363
Additions 1,127 1,127
_______ _______
At 30th June 2023 4,490 4,490
_______ _______
Depreciation
At 1st July 2022 1,198 1,198
Charge for the year 583 583
_______ _______
At 30th June 2023 1,781 1,781
_______ _______
Carrying amount
At 30th June 2023 2,709 2,709
_______ _______
At 30th June 2022 2,165 2,165
_______ _______
6. Investments
Other investments other than loans Total
£ £
Cost or valuation
At 1st July 2022 378,153 378,153
Additions 226,472 226,472
Disposals ( 815) ( 815)
Revaluations 87,510 87,510
_______ _______
At 30th June 2023 691,320 691,320
_______ _______
Impairment
At 1st July 2022 and 30th June 2023 - -
_______ _______
Carrying amount
At 30th June 2023 691,320 691,320
_______ _______
At 30th June 2022 378,153 378,153
_______ _______
7. Debtors
2023 2022
£ £
Trade debtors 74,532 73,008
Other debtors 3 3
_______ _______
74,535 73,011
_______ _______
8. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 3,570 1,802
Social security and other taxes 90,510 81,137
Other creditors 20,926 30,977
_______ _______
115,006 113,916
_______ _______
9. Called up share capital
Issued, called up and fully paid
2023 2022
No £ No £
Ordinary shares of £ 1.00 each 10 10 10 10
Ordinary B shares of £ 1.00 each 1 1 1 1
Ordinary C shares of £ 1.00 each 1 1 1 1
Ordinary D shares of £ 1.00 each 1 1 1 1
_______ _______ _______ _______
13 13 13 13
_______ _______ _______ _______