Company Registration No. SC324739 (Scotland)
LANNSA SURGICAL CONSULTANCY LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
LANNSA SURGICAL CONSULTANCY LTD
COMPANY INFORMATION
Director
Dr Patrick Pollock
Secretary
Dr Kristina Pollock
Company number
SC324739
Registered office
The Manse
Elsrickle
Biggar
South Lanarkshire
Scotland
ML12 6QZ
Accountants
William Duncan + Co Ltd
44 Bank Street
Kilmarnock
Ayrshire
United Kingdom
KA1 1HA
LANNSA SURGICAL CONSULTANCY LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 5
LANNSA SURGICAL CONSULTANCY LTD
REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF LANNSA SURGICAL CONSULTANCY LTD
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Lannsa Surgical Consultancy Ltd for the year ended 30 June 2023 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the ICAS we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts.
This report is made solely to the Board of Directors of Lannsa Surgical Consultancy Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Lannsa Surgical Consultancy Ltd and state those matters that we have agreed to state to the Board of Directors of Lannsa Surgical Consultancy Ltd, as a body, in this report in accordance with the requirements of the ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lannsa Surgical Consultancy Ltd and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Lannsa Surgical Consultancy Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Lannsa Surgical Consultancy Ltd. You consider that Lannsa Surgical Consultancy Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Lannsa Surgical Consultancy Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
William Duncan + Co Ltd
28 March 2024
Chartered Accountants
44 Bank Street
Kilmarnock
Ayrshire
United Kingdom
KA1 1HA
LANNSA SURGICAL CONSULTANCY LTD
BALANCE SHEET
- 2 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
4
22,092
17,956
Cash at bank and in hand
1,201
1,019
23,293
18,975
Creditors: amounts falling due within one year
5
(19,596)
(13,427)
Net current assets
3,697
5,548
Creditors: amounts falling due after more than one year
6
(3,596)
(5,395)
Net assets
101
153
Capital and reserves
Called up share capital
7
4
4
Profit and loss reserves
97
149
Total equity
101
153
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 28 March 2024
Dr Patrick Pollock
Director
Company registration number SC324739 (Scotland)
LANNSA SURGICAL CONSULTANCY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
- 3 -
1
Accounting policies
Company information
Lannsa Surgical Consultancy Ltd is a private company limited by shares incorporated in Scotland. The registered office is The Manse, Elsrickle, Biggar, South Lanarkshire, Scotland, ML12 6QZ.
1.1
Accounting convention
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.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
The services provided include, but are not limited to, surgical consultancy to the equine industry.
1.3
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.4
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to or from related parties and investments in non-puttable ordinary shares.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.6
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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
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.
LANNSA SURGICAL CONSULTANCY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 4 -
1.7
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.8
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
852
Other debtors
21,240
17,956
22,092
17,956
LANNSA SURGICAL CONSULTANCY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 5 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
1,798
1,798
Corporation tax
11,161
6,557
Other taxation and social security
3,889
3,061
Other creditors
2,748
2,011
19,596
13,427
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
3,596
5,395
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Share Capital of £1 each
2
2
2
2
A Ordinary Share Capital of £1 each
1
1
1
1
B Ordinary Share Capital of £1 each
1
1
1
1
4
4
4
4
9
Directors' transactions
Dividends totalling £19,700 (2022 - £13,400) were paid in the year in respect of shares held by the company's directors.
During the year the director was loaned £6,920 and repaid £4,464. The amount due to be repaid by the director is £15,964 (2022 - £13,508) this balance is included in other debtors.