IRIS Accounts Production v23.3.0.418 05477840 Board of Directors 1.4.22 31.3.23 31.3.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh054778402022-03-31054778402023-03-31054778402022-04-012023-03-31054778402021-03-31054778402021-04-012022-03-31054778402022-03-3105477840ns10:Originalns15:EnglandWales2022-04-012023-03-3105477840ns14:PoundSterlingns10:Original2022-04-012023-03-3105477840ns10:Originalns10:Director12022-04-012023-03-3105477840ns10:Original2022-04-012023-03-3105477840ns10:Original2023-03-3105477840ns10:Originalns10:PrivateLimitedCompanyLtd2022-04-012023-03-3105477840ns10:Originalns10:SmallEntities2022-04-012023-03-3105477840ns10:Originalns10:AuditExempt-NoAccountantsReport2022-04-012023-03-3105477840ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3105477840ns10:SmallCompaniesRegimeForAccountsns10:Original2022-04-012023-03-3105477840ns10:Originalns10:FullAccounts2022-04-012023-03-3105477840ns10:Originalns10:Director22022-04-012023-03-3105477840ns10:Originalns10:Director32022-04-012023-03-3105477840ns10:Originalns10:Director42022-04-012023-03-3105477840ns10:Originalns10:Director52022-04-012023-03-3105477840ns10:Originalns10:Director62022-04-012023-03-3105477840ns10:Originalns10:Director72022-04-012023-03-3105477840ns10:CompanySecretary1ns10:Original2022-04-012023-03-3105477840ns10:Originalns10:RegisteredOffice2022-04-012023-03-3105477840ns10:Original2022-03-3105477840ns10:Originalns5:CurrentFinancialInstruments2023-03-3105477840ns10:Originalns5:CurrentFinancialInstruments2022-03-3105477840ns5:ShareCapitalns10:Original2023-03-3105477840ns5:ShareCapitalns10:Original2022-03-3105477840ns10:Originalns5:CapitalRedemptionReserve2023-03-3105477840ns10:Originalns5:CapitalRedemptionReserve2022-03-3105477840ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-03-3105477840ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-03-3105477840ns10:Originalns5:FurnitureFittings2022-04-012023-03-3105477840ns10:Originalns5:ComputerEquipment2022-04-012023-03-3105477840ns10:Original2021-04-012022-03-3105477840ns10:Originalns5:FurnitureFittings2022-03-3105477840ns10:Originalns5:ComputerEquipment2022-03-3105477840ns10:Original2022-03-3105477840ns10:Originalns5:FurnitureFittings2023-03-3105477840ns10:Originalns5:ComputerEquipment2023-03-3105477840ns10:Originalns5:FurnitureFittings2022-03-3105477840ns10:Originalns5:ComputerEquipment2022-03-3105477840ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3105477840ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-03-31
REGISTERED NUMBER: 05477840 (England and Wales)









INNOVATIONS IN PRIMARY CARE LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






INNOVATIONS IN PRIMARY CARE LTD (REGISTERED NUMBER: 05477840)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


INNOVATIONS IN PRIMARY CARE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Dr M J Twitchen
Dr N Iosson
Dr D C Stokes
Dr S Mtharu
Dr E Woodcock
Mrs N Collins
Mr T Micklewright





SECRETARY: K Tamkin





REGISTERED OFFICE: Morris Crocker
Station House
North Street
Havant
Hampshire
PO9 1QU





REGISTERED NUMBER: 05477840 (England and Wales)





ACCOUNTANTS: Morris Crocker
Chartered Accountants
Station House
North Street
Havant
Hampshire
PO9 1QU

INNOVATIONS IN PRIMARY CARE LTD (REGISTERED NUMBER: 05477840)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 39,011 69,818

CURRENT ASSETS
Debtors 5 3,465,010 4,975,652
Cash at bank and in hand 2,621,733 1,796,673
6,086,743 6,772,325
CREDITORS
Amounts falling due within one year 6 5,760,170 6,046,801
NET CURRENT ASSETS 326,573 725,524
TOTAL ASSETS LESS CURRENT
LIABILITIES

365,584

795,342

PROVISIONS FOR LIABILITIES 7,412 13,265
NET ASSETS 358,172 782,077

CAPITAL AND RESERVES
Called up share capital 5,746 5,746
Capital redemption reserve 291 291
Retained earnings 352,135 776,040
SHAREHOLDERS' FUNDS 358,172 782,077

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

INNOVATIONS IN PRIMARY CARE LTD (REGISTERED NUMBER: 05477840)

BALANCE SHEET - continued
31 MARCH 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2023 and were signed on its behalf by:





Dr D C Stokes - Director


INNOVATIONS IN PRIMARY CARE LTD (REGISTERED NUMBER: 05477840)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Innovations in Primary Care Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. 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.

Turnover
Turnover is derived from ordinary activities, and is recognised at the point at which the service is provided.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 15% on reducing balance
Computer equipment - 33% on cost

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 and loans to related parties and investments in non-puttable ordinary shares.

Trade and other 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

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, deposits with banks and other short-term highly liquid investments and bank overdrafts. In the balance sheet, bank overdrafts are shown within borrowings or current liabilities.

Trade and other creditors
Short term trade 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

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 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.


INNOVATIONS IN PRIMARY CARE LTD (REGISTERED NUMBER: 05477840)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued
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.

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 and investments in stocks and shares. The measurement basis used for these instruments is detailed below.

Debtors and cash at bank
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash at bank and in hand included cash held on deposit or in a current account.

Creditors and provisions
Creditors and provisions are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 420 (2022 - 410 ) .

4. TANGIBLE FIXED ASSETS
Computer
Equipment equipment Totals
£    £    £   
COST
At 1 April 2022 53,385 136,982 190,367
Additions - 21,071 21,071
At 31 March 2023 53,385 158,053 211,438
DEPRECIATION
At 1 April 2022 27,955 92,594 120,549
Charge for year 4,107 47,771 51,878
At 31 March 2023 32,062 140,365 172,427
NET BOOK VALUE
At 31 March 2023 21,323 17,688 39,011
At 31 March 2022 25,430 44,388 69,818

INNOVATIONS IN PRIMARY CARE LTD (REGISTERED NUMBER: 05477840)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 3,366,668 4,897,923
Other debtors 98,342 77,729
3,465,010 4,975,652

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 3,126,640 4,946,790
Taxation and social security 281,284 151,764
Other creditors 2,352,246 948,247
5,760,170 6,046,801