Company registration number 09983843 (England and Wales)
TAUNTON DOCTORS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
TAUNTON DOCTORS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
TAUNTON DOCTORS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
116,875
112,841
Investments
4
54,101
54,101
170,976
166,942
Current assets
Stocks
300
300
Debtors
5
976,832
1,052,328
Cash at bank and in hand
3,421
12,862
980,553
1,065,490
Creditors: amounts falling due within one year
6
(24,270)
(154,500)
Net current assets
956,283
910,990
Total assets less current liabilities
1,127,259
1,077,932
Creditors: amounts falling due after more than one year
7
(66,690)
(80,260)
Provisions for liabilities
(21,172)
(21,440)
Net assets
1,039,397
976,232
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
1,038,397
975,232
Total equity
1,039,397
976,232
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their 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.
TAUNTON DOCTORS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 14 August 2024 and are signed on its behalf by:
Dr T A Norbury
Dr C Hornung
Director
Director
Company registration number 09983843 (England and Wales)
TAUNTON DOCTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information
Taunton Doctors Limited is a private company limited by shares incorporated in England and Wales. The registered office is Victoria Gate, East Reach, Taunton, Somerset, TA1 3EX.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
15% straight line
Fixtures and fittings
15% straight line
Motor vehicles
33% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
TAUNTON DOCTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
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.
1.8
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
5
5
TAUNTON DOCTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023
132,894
Additions
54,750
Disposals
(28,355)
At 31 March 2024
159,289
Depreciation and impairment
At 1 April 2023
20,053
Depreciation charged in the year
28,600
Eliminated in respect of disposals
(6,239)
At 31 March 2024
42,414
Carrying amount
At 31 March 2024
116,875
At 31 March 2023
112,841
4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
54,101
54,101
TAUNTON DOCTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
49,795
32,632
Other debtors
927,037
1,019,696
976,832
1,052,328
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
540
Taxation and social security
3,461
136,224
Other creditors
20,809
17,736
24,270
154,500
Included within other creditors are balances totalling £13,570 (2023 - £12,929) relating to amounts owed under hire purchase contracts. Hire purchase contracts are secured over assets of the company.
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
66,690
80,260
Included within other creditors are balances totalling £66,690 (2023 - £80,260) relating to amounts owed under hire purchase contracts. Hire purchase contracts are secured over assets of the company.
8
Directors' transactions
Advances or credits have been granted by the company to its directors as follows:
Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Director 2
-
-
17,000
(2,250)
14,750
Director 1
-
30,000
-
(9,440)
20,560
30,000
17,000
(11,690)
35,310
The balances are unsecured, interest free and repayable on demand.