Silverfin false false 31/03/2024 01/04/2023 31/03/2024 A Dhulkotia 26/04/2021 J Early 26/04/2021 R Kaitiff 26/04/2021 M C Stone 26/04/2021 09 August 2024 The principal activity of the Company during the financial period was that of providing funding to the local network of medical practices delivering care to their patient populations under primary care network funding streams. 13357959 2024-03-31 13357959 bus:Director1 2024-03-31 13357959 bus:Director2 2024-03-31 13357959 bus:Director3 2024-03-31 13357959 bus:Director4 2024-03-31 13357959 2023-03-31 13357959 core:CurrentFinancialInstruments 2024-03-31 13357959 core:CurrentFinancialInstruments 2023-03-31 13357959 core:ShareCapital 2024-03-31 13357959 core:ShareCapital 2023-03-31 13357959 core:RetainedEarningsAccumulatedLosses 2024-03-31 13357959 core:RetainedEarningsAccumulatedLosses 2023-03-31 13357959 bus:OrdinaryShareClass1 2024-03-31 13357959 2023-04-01 2024-03-31 13357959 bus:FilletedAccounts 2023-04-01 2024-03-31 13357959 bus:SmallEntities 2023-04-01 2024-03-31 13357959 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 13357959 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 13357959 bus:Director1 2023-04-01 2024-03-31 13357959 bus:Director2 2023-04-01 2024-03-31 13357959 bus:Director3 2023-04-01 2024-03-31 13357959 bus:Director4 2023-04-01 2024-03-31 13357959 2022-04-01 2023-03-31 13357959 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 13357959 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 13357959 (England and Wales)

LAUNCESTON & TAMAR VALLEY PCN LTD

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

LAUNCESTON & TAMAR VALLEY PCN LTD

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

LAUNCESTON & TAMAR VALLEY PCN LTD

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
LAUNCESTON & TAMAR VALLEY PCN LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
2024 2023
£ £
Current assets
Cash at bank and in hand 503,964 444,211
503,964 444,211
Creditors: amounts falling due within one year 3 ( 507,460) ( 444,857)
Net current liabilities (3,496) (646)
Total assets less current liabilities (3,496) (646)
Net liabilities ( 3,496) ( 646)
Capital and reserves
Called-up share capital 4 4 4
Profit and loss account ( 3,500 ) ( 650 )
Total shareholders' deficit ( 3,496) ( 646)

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Launceston & Tamar Valley PCN Ltd (registered number: 13357959) were approved and authorised for issue by the Board of Directors on 09 August 2024. They were signed on its behalf by:

M C Stone
Director
LAUNCESTON & TAMAR VALLEY PCN LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
LAUNCESTON & TAMAR VALLEY PCN LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Launceston & Tamar Valley PCN Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Health Centre, Haye Road, Callington, PL17 7AW, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

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, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 4

3. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 20,666 17,765
Other creditors 486,794 427,092
507,460 444,857

4. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
4 Ordinary shares of £ 1.00 each 4 4