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Registered number: 03136437










THE SHROPSHIRE DOCTORS' CO-OPERATIVE LIMITED
(A Company Limited by Guarantee)










ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
THE SHROPSHIRE DOCTORS' CO-OPERATIVE LIMITED
 
(A Company Limited by Guarantee)
 
 
COMPANY INFORMATION


Directors
Mr D Coull (Chair) 
Mrs L Biffin (resigned 2 August 2023)
Dr S Chapple 
Dr A Dean 
Dr C Hart 
Dr K McCormack (resigned 31 May 2023)
Dr R Muirhead 
Mr M Newsholme 
Mr D Robinson 
Mrs N L Wilde (appointed 1 August 2023)




Registered number
03136437



Registered office
Unit A, 3 Longbow Close
Harlescott Lane

Shrewsbury

SY1 3GZ




Independent auditors
WR Partners
Chartered Accountants & Statutory Auditors

Belmont House

Shrewsbury Business Park

Shrewsbury

Shropshire

SY2 6LG





 
THE SHROPSHIRE DOCTORS' CO-OPERATIVE LIMITED
 
(A Company Limited by Guarantee)
 

CONTENTS



Page
Strategic Report
 
1 - 7
Directors' Report
 
8 - 9
Independent Auditors' Report
 
10 - 13
Statement of Comprehensive Income
 
14
Statement of Financial Position
 
15
Statement of Changes in Equity
 
16
Statement of Cash Flows
 
17
Notes to the Financial Statements
 
18 - 30

 
THE SHROPSHIRE DOCTORS' CO-OPERATIVE LIMITED
 
(A Company Limited by Guarantee)
 
 
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2024

Introduction
 
The Directors present their Strategic Report on Shropshire Doctors Cooperative Ltd for the year to 31st March 2024.

Business Model
 
Shropdoc is committed to providing high-quality, efficient urgent primary healthcare services to the NHS in England and Wales. We specialise in urgent care services and General Practice services, operating within the Integrated Care Systems (ICS) of Shropshire, Telford & Wrekin, and the Health & Care system of Powys, Mid-Wales. This strategic focus allows us to deliver targeted services that meet the needs of our specific communities.
We leverage a predominantly local workforce, ensuring deep understanding of patient needs and the local health economy. This local knowledge translates into efficient service delivery and improved patient care. We prioritise providing safe, resilient, reliable, and cost-effective services for the NHS. This "value for money" approach ensures the sustainability of our services and the NHS budget.
Our goal is to achieve annual surpluses that support continued operations and facilitate the development of future healthcare services. This financial stability allows us to invest in our infrastructure and workforce, enhancing service delivery for the long term. We foster a culture of engagement and commitment among our staff. This translates into a robust service delivery model that offers economies of scale and seamless integration, available 24/7.
By focusing on these core principles, Shropdoc is well-positioned to deliver high-quality services and contribute to a resilient and sustainable healthcare system in the communities we serve.
Our Corporate Strategy
Shropdoc operates as a GP Membership organisation on a Not-for-Profit Social Enterprise model, with a clear mission: "To keep patients at the heart of all that we do." This mission is reflected in our core values, which guide our interactions with patients, staff, partners, and the broader organisation.
We prioritise providing high-quality healthcare services for the benefit of the communities we serve. We operate solely within the NHS framework, delivering essential primary healthcare services on a 24/7 round-the-clock basis. Our mission statement underlines our unwavering commitment to placing patients at the centre of everything we do. Our core values - encompassing patients, people, organisation, and partners - shape our decision-making and guide our behaviours at all levels.
Shropdoc benefits from a Board and leadership team with extensive expertise in the NHS and primary care, combined with strong commercial, technical, and financial acumen. This team's focus on innovation ensures sustainable growth for the organisation.
We actively seek to be a trusted partner within the NHS Integrated Care System. This collaborative approach fosters positive relationships and strengthens the overall healthcare ecosystem.
Our position as an NHS Business Partner allows us to seamlessly operate within the NHS infrastructure. This ensures patients receive services free at the point of contact and allows our staff to access the NHS Pension scheme, aligning them with their NHS counterparts.
Page 1

 
THE SHROPSHIRE DOCTORS' CO-OPERATIVE LIMITED
 
(A Company Limited by Guarantee)
 

STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024

Performance
 
Turnover in the year to 31 March 2024 totalled £13.1m and the company's overall trading results over the past five years have been as follows:
ole34de.png
Business Model/Performance 
While the data reveals a trend in the decline in surpluses over the past four years, in part this demonstrates planned strategic investment in the organisation's future. The healthcare landscape is rapidly evolving, and we have prioritised staying ahead of the curve. This necessitates significant investments in our people, infrastructure, and service innovation. By empowering our workforce and developing innovative and sustainable services, we position ourselves for expected growth. Additionally, keeping pace with the ever-changing needs of patients is paramount. However, achieving this balance is undeniably difficult in the current economic climate. Realising stability is challenging where contractual limitations such as tariff uplifts do not keep pace with inflationary pressures. This is a necessary but temporary period of adaptation, paving the way for a stronger, more resilient organisation in the years to come.
Core Urgent Primary Care Services: 
STW Integrated Urgent Care Service and Powys GP Out of Hours Contract 
This year, we prioritised advancements in technology, data analysis, and staff development to significantly enhance the Integrated Urgent Care Contract we deliver to Shropshire residents. Investments in Cloud Infrastructure, Incident Reporting Platforms, Business Intelligence and the Primary Care software clinical platform, EMIS, have streamlined patient flow and improved access to care. Data-driven insights allowed us to identify areas for service optimisation, leading to marked improvement in overall efficiency and performance.
Furthermore, a focus on staff training and development programs fostered a highly skilled and motivated workforce, ensuring exceptional patient care. These combined efforts have laid a strong foundation for a sustainable future, allowing us to continuously improve our services and deliver exceptional health and care to the Shropshire and Powys communities.   
  
General Practice Services
In line with our vision to expand primary care at scale and build a resilient, sustainable future, we are thrilled at the successful onboarding of a Presteigne Medical Practice in Mid Wales to our service portfolio. This strategic partnership allows us to extend our reach and expertise to a familiar geographical area having provided the GP Out of Hours Contract in Powys for over 20 years. We are directly contributing to improved access to high-quality urgent primary care for patients in Mid Wales. This collaboration exemplifies our commitment to working with partners across the primary care landscape and paves the way for further strategic alliances that will strengthen the overall primary care infrastructure in Mid Wales.
 
Page 2

 
THE SHROPSHIRE DOCTORS' CO-OPERATIVE LIMITED
 
(A Company Limited by Guarantee)
 

STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024

Workforce
Shropdoc's commitment to its people is paramount. Underpinned by a clear vision, mission, and value set, we operate as a not-for-profit social enterprise, prioritising the well-being of our staff alongside patient care and community service. Equality and fairness are core principles in our employment practices and healthcare delivery. We actively oppose discrimination and ensure everyone has the opportunity to thrive within our organisation and access the healthcare they need.
This dedication extends beyond just non-discrimination. We foster an environment where staff feel empowered to contribute to the organisation's progress and development. This is achieved through various channels, we have dedicated forum, encouraging staff participation in shaping these crucial aspects of our work environment.
Regular communication is key. We utilise e-newsletters, an intranet platform, and an annual report to keep staff informed about all services, performance metrics, and organisational developments. An annual staff survey allows us to gather valuable feedback and actively involve staff in identifying areas for improvement. Resulting action plans directly align with our business ethos and overall strategy.
By investing in our people, we create a positive, engaged workforce. This translates into better patient care, a more resilient organisation, and a sustainable future for Shropdoc within the healthcare sector. We believe a happy and empowered workforce is the cornerstone of achieving our vision and delivering exceptional service to all.
Corporate Social Responsibility
Our commitment to social responsibility extends beyond financial performance. We are actively engaged in building stronger communities and fostering a culture of giving back.
We partner with established charities, focusing on initiatives that directly benefit the well-being of our communities. This ensures our support aligns with our core expertise in healthcare. We encourage and support our staff in volunteering their time and expertise. This not only benefits the community through "health and wellbeing related" activities, but also fosters a sense of purpose and social responsibility within our workforce. Our partnerships initiatives extend across both England and Wales, mirroring our broader service portfolio. This ensures a wider impact and demonstrates our commitment to supporting communities in all areas we operate.
By actively engaging in these initiatives, we believe we are making a positive contribution to the social fabric of the communities we serve, while fostering a culture of social responsibility within our organisation.
Shropdoc is also committed to being environmentally friendly and has developed a number of environmental corporate initiatives implemented this financial year with plans to expand in the coming year. Shropdoc is proud of significant steps towards a more sustainable future with the transition to a hybrid vehicle fleet. This initiative reflects our dedication to environmental responsibility and aligns with our commitment to providing the best possible care for our community. This fits well with our focus on green initiatives and to ensuring our service activities are conducted efficiently and in an environmentally friendly way. We look forward to continued innovation and collaboration as we work to make a positive difference in our community and the environment.
Principal Risks and Uncertainties
Directors constantly monitor the risks and uncertainties facing Shropdoc and are confident policies and procedures are in place to protect against known eventualities and there are no material risks and uncertainties which have not been considered.
 
Page 3

 
THE SHROPSHIRE DOCTORS' CO-OPERATIVE LIMITED
 
(A Company Limited by Guarantee)
 

STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024

Financial Risk Overview and Mitigation Strategies
Shropdoc operates in a dynamic healthcare landscape with inherent financial risks. We are committed to proactive risk management and have established comprehensive policies and procedures to address these challenges.
Shropdoc function’s as a not-for-profit social enterprise within the NHS, adhering to the same rigorous standards and regulations that govern the entire healthcare system. This ensures we deliver NHS services with the same level of quality, accountability, and patient focus. However, it's crucial to recognise the additional layer of commercial considerations that arise from our independent status. Unlike traditional NHS entities, we operate with a social mission but also need to demonstrate financial sustainability. This means balancing the delivery of exceptional patient care with the need to generate enough income to reinvest in our staff, infrastructure, and service innovation. It's a delicate balance, but one that allows us to remain flexible and responsive to the evolving needs of the healthcare landscape. In essence, we hold ourselves to the high standards of the NHS while fostering an entrepreneurial spirit that fuels continuous improvement and growth.
The NHS's focus on achieving significant cost savings may impact future contract negotiations. We are actively monitoring the ongoing NHS strategy and its potential effect on our financial position. The increasing demand for clinical staff, coupled with limited supply, is placing upward pressure on our staffing costs. We are exploring strategies to mitigate these costs, such as upskilling existing staff and exploring alternative recruitment strategies.
Resource Risk
The NHS, like many healthcare systems globally, faces a significant challenge in securing and retaining qualified clinical staff. This workforce shortage, particularly amongst nurses and allied health professionals, poses a major risk to the sustainability and quality of care provided. 
Despite these challenges, we remain optimistic. Shropdoc, through strategic partnerships and innovative solutions, can play a crucial role in supporting the NHS by offering alternative access points for patients and alleviating some of the strain on its workforce.
Shropdoc is pleased to report a positive trend in its GP workforce sustainability. We've experienced healthy growth in GP membership, demonstrating a strong interest in working with our organisation. This is further evidenced by the high competition for available shifts, prompting a temporary pause in active recruitment.
The recent increase in GP membership signifies a strong vote of confidence in Shropdoc as a desirable workplace. This growth provides a stable foundation for our workforce. The current level of competition for shifts indicates a well-engaged GP workforce. This ensures adequate staffing levels and avoids potential service disruptions.
While the current situation is positive, Shropdoc acknowledges the cyclical nature of the GP recruitment market. We are committed to maintaining a sustainable workforce in the long term and have implemented proactive measures:
We actively maintain a talent bank of interested GPs. This allows us to quickly identify and engage qualified candidates when recruitment resumes as well as maintaining regular communication with potential candidates. This keeps them informed about future opportunities and strengthens our relationships with the wider GP community.
 
Page 4

 
THE SHROPSHIRE DOCTORS' CO-OPERATIVE LIMITED
 
(A Company Limited by Guarantee)
 

STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024

Conclusion:
However, long-term solutions require a collaborative effort. We continue to invest in workforce development programs, fostering a supportive work environment within the Organisation, and exploring innovative models of care delivery that leverage technology and optimise staffing structures. By working together, we can navigate this challenge and ensure a robust and sustainable future for primary care in the communities we serve.
Shropdoc Directors continually monitor and assess this risk. Through local engagement, a significant investment in training support, creating an enviable working environment and developing a multi-skilled team with Doctors and Nurses working in parallel, this risk is being managed.
Contractual Risk 
Shropshire, Telford & Wrekin - Integrated Urgent care Contract
The principle risk for Shropdoc lies in the uncertainty surrounding the renewal and terms of our core service contract for Integrated Urgent Care.
The current contract, signed in July 2022, is under strain due to increased activity, demand, and high inflation, leading to significant cost pressures for Shropdoc. Commissioners have proposed a short-term extension due to the General Election and ongoing management changes within the Integrated Care System (ICS) in Shropshire. This lack of long-term commitment creates financial uncertainty for Shropdoc.
Despite these challenges, we are optimistic about reaching a successful outcome in the negotiations. Both Shropdoc and the Commissioners share a desire for a stable and long-term arrangement. A well-functioning urgent care service benefits both parties. Shropdoc has a proven track record of delivering high-quality urgent care services under the existing contract. We are actively engaged in negotiations and presenting data that clearly demonstrates the cost pressures and the value Shropdoc delivers to the healthcare system.
While the current situation poses a risk, we are confident that our strong performance, commitment to partnership, and proactive approach will lead to a successful resolution and a long-term contract extension.
Powys GP Out of Hours Contract
Shropdoc have successfully agreed a new contract with Powys Teaching Health Board providing a secure foundation on which to work in collaboration for a longer-term arrangement. 
Presteigne Medical Centre
A service contract for Presteigne Medical Centre was awarded from July 2023 for a period of 3 years with an option to extend.
Liquidity Risk Management and Mitigation Strategies
Shropdoc maintains a strong focus on managing liquidity risk, ensuring we have the necessary cash readily available to meet our operational needs.
 
Page 5

 
THE SHROPSHIRE DOCTORS' CO-OPERATIVE LIMITED
 
(A Company Limited by Guarantee)
 

STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024

Liquidity Strengths 
We maintain healthy retained reserves, acting as a buffer against unexpected cash flow disruptions. Our agreements with the NHS require prompt payment within the current month, which ensures we receive funds ahead of major expenses. This creates a positive cash flow cycle that minimises the risk of liquidity shortfalls. The Board of Directors closely monitors our cash flow position and takes proactive steps to maintain sufficient working capital.
While our current practices effectively mitigate liquidity risk, we acknowledge the inherent uncertainty in healthcare funding. We remain vigilant and will adapt our strategies as needed to ensure continued financial stability. Shropdoc maintains a strong liquidity position through a combination of financial reserves, favourable contract terms, and proactive cash flow management. This allows us to operate with confidence and focus on delivering high-quality urgent care services.
Going Concern Assessment: A Strong Foundation for Continued Success 
Shropdoc's 27th year of operation underscores our proven track record of delivering strong performance in demanding circumstances. We are confident in our ability to continue as a going concern well beyond the next 12 months.
While not explicitly mentioned, the positive tone of the report and the successful navigation of challenging conditions demonstrate financial stability. A strong and growing leadership team signifies strategic direction and the ability to navigate future challenges. Continued investment in people and resources demonstrates a commitment to building a sustainable future and enhancing service delivery. Shropdoc’s strong reputation for quality services and innovation positions Shropdoc favourably for future opportunities and alignment with the NHS Integrated Care System strategy positions Shropdoc for continued collaboration and growth.
This report acknowledges the challenging service conditions. However, the emphasis remains on Shropdoc's proven ability to navigate difficulties. The Directors' confidence, combined with the factors mentioned above, provide a compelling case for Shropdoc's continued success as a going concern. Shropdoc's strong foundation positions it well to capitalise on opportunities within the evolving healthcare landscape.
 
Page 6

 
THE SHROPSHIRE DOCTORS' CO-OPERATIVE LIMITED
 
(A Company Limited by Guarantee)
 

STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024


Financial key performance indicators
 
 The Company’s key financial and other performance indicators during the year were: 
ole286a.png

Other performance indicators
 
The Company uses a suite of operational performance indicators to monitor and measure performance on a daily, weekly and monthly basis.




This report was approved by the board on 25 July 2024 and signed on its behalf.





................................................
Mr D Coull (Chair)
Director
Page 7

 
THE SHROPSHIRE DOCTORS' CO-OPERATIVE LIMITED

(A Company Limited by Guarantee)
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2024

The Directors present their report and the financial statements for the year ended 31 March 2024.

Directors' responsibilities statement

The Directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the Directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the Directors are required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Directors are responsible for the maintenance and integrity of the corporate and financial information included on the Company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements and other information included in Directors' Reports may differ from legislation in other jurisdictions.

Results and dividends

The profit for the year, after taxation, amounted to £12,623 (2023 - £149,529).

In accordance with the Company’s Articles of Association which does not allow for the distribution of dividends, no dividends have been paid or recommended in the current or prior year.
 
Page 8

 
THE SHROPSHIRE DOCTORS' CO-OPERATIVE LIMITED

(A Company Limited by Guarantee)
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024


Directors

The Directors who served during the year were:

Mr D Coull (Chair) 
Mrs L Biffin (resigned 2 August 2023)
Dr S Chapple 
Dr A Dean 
Dr C Hart 
Dr K McCormack (resigned 31 May 2023)
Dr R Muirhead 
Mr M Newsholme 
Mr D Robinson 
Mrs N L Wilde (appointed 1 August 2023)

Future developments

Future developments have been considered within the Strategic Report.  

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Auditors

The auditorsWR Partnerswill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board on 25 July 2024 and signed on its behalf.
 




................................................
Mr D Coull (Chair)
Director
Page 9

 
THE SHROPSHIRE DOCTORS' CO-OPERATIVE LIMITED

(A Company Limited by Guarantee)
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE SHROPSHIRE DOCTORS' CO-OPERATIVE LIMITED
 

Opinion


We have audited the financial statements of The Shropshire Doctors' Co-Operative Limited (the 'Company') for the year ended 31 March 2024, which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Cash Flows, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the Company's affairs as at 31 March 2024 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern


In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.


Page 10

 
THE SHROPSHIRE DOCTORS' CO-OPERATIVE LIMITED

(A Company Limited by Guarantee)
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE SHROPSHIRE DOCTORS' CO-OPERATIVE LIMITED (CONTINUED)


Other information


The other information comprises the information included in the Annual Report other than the financial statements and  our Auditors' Report thereon.  The directors are responsible for the other information contained within the Annual Report.  Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated.  If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves.  If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.
Page 11

 
THE SHROPSHIRE DOCTORS' CO-OPERATIVE LIMITED

(A Company Limited by Guarantee)
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE SHROPSHIRE DOCTORS' CO-OPERATIVE LIMITED (CONTINUED)


Responsibilities of directors
 

As explained more fully in the Directors' Responsibilities Statement set out on page 8, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.


Auditors' responsibilities for the audit of the financial statements
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The audit team obtained an understanding of the legal and regulatory frameworks that are applicable to the Company and determined that the most significant are those that relate to the reporting framework (FRS102 and the Companies Act 2006), the relevant tax compliance regulations, employment law, Health and Safety Regulations and the EU General Data Protection Regulation (GDPR), Safeguarding regulations and compliance with the Care Quality Comission. 
We understood how the Company is complying with these frameworks by making enquiries of management and those responsible for legal and compliance procedures. We also reviewed board minutes and reviewed correspondance with regulatory bodies where possible to identify any recorded instances of irregularity or non compliance that might have a material impact on the financial statements. 
We assessed the susceptibility of the Company's financial statements to material misstatement, including how fraud might occur by meeting with key management to understand where they considered there was susceptibility to fraud. Based on our understanding our procedures involved enquiries of management and those charged with governance, manual journal entry testing, cashbook reviews for large and unusual items and the challenge of significant accounting estimates used in preparing the financial statements.
 
Page 12

 
THE SHROPSHIRE DOCTORS' CO-OPERATIVE LIMITED

(A Company Limited by Guarantee)
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE SHROPSHIRE DOCTORS' CO-OPERATIVE LIMITED (CONTINUED)




Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.  The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.

Use of our report
 

This report is made solely to the Company's members in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the Company's directors those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members for our audit work, for this report, or for the opinions we have formed.





Andrew Malpass BA FCA (Senior Statutory Auditor)
  
for and on behalf of
WR Partners
 
Chartered Accountants
Statutory Auditors
  
Belmont House
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG

 
Date: 
29 July 2024
Page 13

 
THE SHROPSHIRE DOCTORS' CO-OPERATIVE LIMITED
 
(A Company Limited by Guarantee)
 
 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2024

2024
2023
Note
£
£

  

Turnover
 5 
13,140,861
12,033,587

Cost of sales
  
(8,896,377)
(8,257,571)

Gross profit
  
4,244,484
3,776,016

Administrative expenses
  
(4,405,125)
(3,709,339)

Operating (loss)/profit
 6 
(160,641)
66,677

Interest receivable and similar income
 9 
177,607
80,376

Profit before taxation
  
16,966
147,053

Tax on profit
 10 
(4,343)
2,476

Profit for the financial year
  
12,623
149,529

There were no recognised gains and losses for 2024 or 2023 other than those included in the statement of comprehensive income.

There was no other comprehensive income for 2024 (2023:£NIL).

The notes on pages 18 to 30 form part of these financial statements.
Page 14

 
THE SHROPSHIRE DOCTORS' CO-OPERATIVE LIMITED
 
(A Company Limited by Guarantee)
REGISTERED NUMBER: 03136437

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 11 
621,347
592,054

  
621,347
592,054

Current assets
  

Stocks
 12 
90,065
77,128

Debtors: amounts falling due within one year
 13 
656,729
444,418

Cash at bank and in hand
 14 
3,416,488
3,587,796

  
4,163,282
4,109,342

Creditors: amounts falling due within one year
 15 
(1,356,437)
(1,285,827)

Net current assets
  
 
 
2,806,845
 
 
2,823,515

Total assets less current liabilities
  
3,428,192
3,415,569

Provisions for liabilities
  

Other provisions
 17 
(67,800)
(67,800)

  
 
 
(67,800)
 
 
(67,800)

Net assets
  
3,360,392
3,347,769


Capital and reserves
  

Profit and loss account
 18 
3,360,392
3,347,769

  
3,360,392
3,347,769


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



................................................
Mr D Coull (Chair)
Director

Date: 25 July 2024

The notes on pages 18 to 30 form part of these financial statements.
Page 15

 
THE SHROPSHIRE DOCTORS' CO-OPERATIVE LIMITED
 
(A Company Limited by Guarantee)
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024


Other reserves
Profit and loss account
Total equity

£
£
£

At 1 April 2022
2,000,000
1,198,240
3,198,240


Comprehensive income for the year

Profit for the year

-
149,529
149,529

Transfer to/from profit and loss account
(2,000,000)
2,000,000
-


At 1 April 2023
-
3,347,769
3,347,769


Comprehensive income for the year

Profit for the year
-
12,623
12,623


At 31 March 2024
-
3,360,392
3,360,392


The notes on pages 18 to 30 form part of these financial statements.
Page 16

 
THE SHROPSHIRE DOCTORS' CO-OPERATIVE LIMITED
 
(A Company Limited by Guarantee)
 

STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024

2024
2023
£
£

Cash flows from operating activities

Profit for the financial year
12,623
149,529

Adjustments for:

Depreciation of tangible assets
212,160
164,144

(Profit)/Loss on disposal of tangible assets
(37,144)
(32,652)

Interest received
(177,607)
(80,376)

Taxation charge
4,343
(2,476)

(Increase) in stocks
(12,937)
(15,091)

(Increase)/decrease in debtors
(212,311)
354,823

Increase/(decrease) in creditors
66,096
(127,128)

Corporation tax received/(paid)
-
(90,901)

Net cash generated from operating activities

(144,777)
319,872


Cash flows from investing activities

Purchase of tangible fixed assets
(246,171)
(335,658)

Sale of tangible fixed assets
42,033
35,793

Interest received
177,607
80,376

Net cash from investing activities

(26,531)
(219,489)


Net (decrease)/increase in cash and cash equivalents
(171,308)
100,383

Cash and cash equivalents at beginning of year
3,587,796
3,487,413

Cash and cash equivalents at the end of year
3,416,488
3,587,796


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
3,416,488
3,587,796

3,416,488
3,587,796


Page 17

 
THE SHROPSHIRE DOCTORS' CO-OPERATIVE LIMITED

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Shropshire Doctors Co-operative Limited is a Company incorporated and domiciled in the UK and has a registered office and principal place of business at Unit A 3 Longbow Close, Harlescott Lane, Shrewsbury, Shropshire, SY1 3GZ.
Shropshire Doctors Co-operative Ltd (Shropdoc) is a not-for-profit organisation established in 1996. They provide a range of services mainly focusing on urgent primary care.  The core function is 24/7 coordination of care via a call centre based model and face to face delivery of clinical care.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.
Page 18

 
THE SHROPSHIRE DOCTORS' CO-OPERATIVE LIMITED

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

  
2.5

Pensions

The Company participates in an NHS Pension Scheme which is a defined benefit scheme. The NHS Pension Scheme is a multi-employer pension scheme with no underlying assets assigned to employers, therefore, the companies liability is limited to the employer contributions made and as such the pension scheme is treated as a defined contribution scheme with contributions recognised as an expense in the Profit or Loss when they fall due. 
The Company also makes contributions to a National Employment Savings Trust (NEST) pension scheme for those employees who are ineligible to join the NHS pension scheme. The Company’s liability is limited to the amount of employers contributions made to the schemes and the liability resides with the scheme, as such the pension scheme is treated as a defined contribution scheme with contributions recognised as an expense in the Profit and Loss Account when they fall due.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Page 19

 
THE SHROPSHIRE DOCTORS' CO-OPERATIVE LIMITED

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.6
Current and deferred taxation (continued)

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property
-
not depreciated
Motor vehicles
-
25%
Office equipment
-
12.5%
Computer equipment
-
33.3%
Computer software
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

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.
Page 20

 
THE SHROPSHIRE DOCTORS' CO-OPERATIVE LIMITED

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Company's cash management.

 
2.11

Creditors

Short-term 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.

 
2.12

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations or future events that are believed to be reasonable under the circumstances.
The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. In the opinon of the Directors there are no estimates or assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. 
Page 21

 
THE SHROPSHIRE DOCTORS' CO-OPERATIVE LIMITED

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Going Concern

The directors have prepared income and expenditure and cashflow forecasts for the period to 31 March 2026 based on a detailed assessment of the company’s revenue streams, its projected trading and capital expenditure.  
On the basis of these forecasts the directors believe that the business will continue to meet its liabilities as they fall due for the foreseeable future and accordingly the accounts are prepared on the going concern basis.


5.


Turnover

The whole of the turnover is attributable to services provided in offering urgent primary care via  a 24/7 call centre based model and face to face delivery of clinical care. 

All turnover arose within the United Kingdom.


6.


Operating (loss)/profit

The operating (loss)/profit is stated after charging:

2024
2023
£
£

Depreciation of tangible fixed assets
214,664
164,144

Pension cost
541,296
475,467

Other operating lease rentals
245,449
191,074

Fees payable to the Company's auditor and it's associates for the audit of the Company's annual accounts
9,800
9,350
Page 22

 
THE SHROPSHIRE DOCTORS' CO-OPERATIVE LIMITED

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Employees

Staff costs, including directors' remuneration, were as follows:


2024
2023
£
£

Wages and salaries
5,290,392
4,575,053

Social security costs
464,375
435,350

Cost of contributions to pension schemes
541,296
475,467

6,296,063
5,485,870


The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Employees
218
188

Key Management Personnel
During the year, key management personnel, including the directors, received remuneration including employer pension contributions totalling £527,582 (2023: £549,354).


8.


Directors' remuneration

2024
2023
£
£

Directors' emoluments
418,441
337,223

Company contributions to pension schemes
29,127
34,258

447,568
371,481


During the year retirement benefits were accruing to no directors (2023 - NIL) in respect of pension schemes.

The highest paid director received remuneration of £142,681 (2023 - £124,338).

The value of the Company's contributions paid to a pension scheme in respect of the highest paid director amounted to £NIL (2023 - £7,598).

Page 23

 
THE SHROPSHIRE DOCTORS' CO-OPERATIVE LIMITED

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Interest receivable

2024
2023
£
£


Other interest receivable
177,607
80,376

177,607
80,376


10.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
4,343
-

Adjustments in respect of previous periods
-
(2,476)


4,343
(2,476)


Total current tax
4,343
(2,476)

Deferred tax

Total deferred tax
-
-


Taxation on profit/(loss) on ordinary activities
4,343
(2,476)
Page 24

 
THE SHROPSHIRE DOCTORS' CO-OPERATIVE LIMITED

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
 
10.Taxation (continued)


Factors affecting tax charge for the year

The tax assessed for the year is higher than (2023 - lower than) the standard rate of corporation tax in the UK of 25% (2023 - 19%). The differences are explained below:

2024
2023
£
£


Profit on ordinary activities before tax
16,966
147,053


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 19%)
3,224
27,940

Effects of:


Capital allowances for year in excess of depreciation
-
(30,280)

Adjustments to tax charge in respect of prior periods
-
(2,476)

Short-term timing difference leading to an increase (decrease) in taxation
(19,556)
-

Book profit on chargeable assets
(7,057)
(3,230)

Changes in provisions leading to an increase (decrease) in the tax charge
2,860
(3,338)

Unrelieved tax losses carried forward
24,872
8,908

Total tax charge for the year
4,343
(2,476)


Factors that may affect future tax charges

There were no factors that may affect future tax charges.

Page 25

 
THE SHROPSHIRE DOCTORS' CO-OPERATIVE LIMITED

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

11.


Tangible fixed assets





Long-term leasehold property
Motor vehicles
Office equipment
Computer equipment
Computer Software
Total

£
£
£
£
£
£



Cost or valuation


At 1 April 2023
76,912
424,986
369,279
370,248
45,769
1,287,194


Additions
-
130,653
20,705
94,813
-
246,171


Disposals
-
(72,293)
-
-
-
(72,293)



At 31 March 2024

76,912
483,346
389,984
465,061
45,769
1,461,072



Depreciation


At 1 April 2023
-
177,567
224,297
282,390
10,886
695,140


Charge for the year on owned assets
-
110,726
24,522
70,262
9,154
214,664


Disposals
-
(70,079)
-
-
-
(70,079)



At 31 March 2024

-
218,214
248,819
352,652
20,040
839,725



Net book value



At 31 March 2024
76,912
265,132
141,165
112,409
25,729
621,347



At 31 March 2023
76,912
247,419
144,982
87,858
34,883
592,054

Page 26

 
THE SHROPSHIRE DOCTORS' CO-OPERATIVE LIMITED

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

12.


Stocks

2024
2023
£
£

Raw materials and consumables
90,065
77,128

90,065
77,128



13.


Debtors

2024
2023
£
£


Trade debtors
391,916
137,047

Other debtors
16,049
17,149

Prepayments and accrued income
232,514
273,972

Deferred taxation
16,250
16,250

656,729
444,418



14.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
3,416,488
3,587,796

3,416,488
3,587,796

Page 27

 
THE SHROPSHIRE DOCTORS' CO-OPERATIVE LIMITED

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

15.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
175,495
335,332

Corporation tax
4,343
-

Other taxation and social security
144,910
115,360

Other creditors
86,586
63,451

Accruals and deferred income
945,103
771,684

1,356,437
1,285,827



16.


Deferred taxation




2024
2023


£

£






At beginning of year
16,250
16,250



At end of year
16,250
16,250

The deferred tax asset is made up as follows:

2024
2023
£
£


Capital allowance timing differences
16,250
16,250

16,250
16,250

Page 28

 
THE SHROPSHIRE DOCTORS' CO-OPERATIVE LIMITED

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

17.


Provisions




Dilapidation provision

£





At 1 April 2023
67,800



At 31 March 2024
67,800

A dilapidation provision has been made in the event of the termination of the leases on the two properties at Longbow Close. This is the directors' best estimate of the costs that will be incurred in restoring the premises to its original condition. 


18.


Reserves

Profit and loss account

The profit and loss account represents the accumulated profits of the Company.

19.


Analysis of net debt




At 1 April 2023
Cash flows
At 31 March 2024
£

£

£

Cash at bank and in hand

3,587,796

(171,308)

3,416,488


3,587,796
(171,308)
3,416,488



20.


Company status

The Company is a private Company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the Company in the event of liquidation.
Page 29

 
THE SHROPSHIRE DOCTORS' CO-OPERATIVE LIMITED

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


21.


Pension commitments

The Company operates NHS pension schemes and a NEST pension scheme. The assets of the schemes are held separately from those of the Company in independently administrated funds. The pension cost represents contributions payable by the Company to the NHS Pension scheme fund and the NEST pension scheme fund which in total amounted to £541,296 (2023: £475,467) and had amounts payable to the schemes at the year end of £77,108 (2023: £62,054). This is in included within creditors. 


22.


Commitments under operating leases

At 31 March 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
73,423
73,423

Later than 1 year and not later than 5 years
253,816
273,754

Later than 5 years
124,798
178,283

452,037
525,460


23.


Related party transactions

During the year, the GP Directors (Dr Chapple and Dr Hart) received sessional payments aggregating to £60,406 (2023: £65,272) of this amount £NIL was due at year end (2023: £NIL).
The Company entered into transactions with Scotdoc Consultancy Limited, a company of which Dr Muirhead is a Director. Total purchases made during the year totalled £NIL (2023: £13,500). Of this amount £NIL was due at year end (2023: £NIL). 
The Company entered into transactions with AD Medical Services Limited, a company of which Dr Dean is a Director. Total purchases made during the year totalled £138,879 (2023: £53,840). Of this amount £NIL was due at year end (2023: £NIL).
During the year consultancy services were received from Director, M Newsholme, which totalled £4,900 (2023: £5,100) of this amount £NIL was outstanding at the year end (2023: £NIL). 
All the above payments were contracted on an arms length basis and normal commercial terms.


24.


Controlling party

There is no overall controlling party.
 
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