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REGISTERED NUMBER: 07596523 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

SURGICAL INDEMNITY SCHEME LIMITED

SURGICAL INDEMNITY SCHEME LIMITED (REGISTERED NUMBER: 07596523)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SURGICAL INDEMNITY SCHEME LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr R J Moorehead
Mr I D Anderson
Mr N T Welch
Mr D Menzies





REGISTERED OFFICE: 38-43 Lincoln Inns Fields
London
WC2A 39E





REGISTERED NUMBER: 07596523 (England and Wales)





ACCOUNTANTS: Ford Bentall LLP
Chartered Certified Accountants
60 High Street
Chobham
Surrey
GU24 8AA

SURGICAL INDEMNITY SCHEME LIMITED (REGISTERED NUMBER: 07596523)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Debtors 5 6 40
Cash at bank 4,642 5,877
4,648 5,917
CREDITORS
Amounts falling due within one year 6 5,421 6,662
NET CURRENT LIABILITIES (773 ) (745 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(773

)

(745

)

CAPITAL AND RESERVES
Called up share capital 5 5
Retained earnings (778 ) (750 )
SHAREHOLDERS' FUNDS (773 ) (745 )

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

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

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 August 2024 and were signed on its behalf by:





Mr N T Welch - Director


SURGICAL INDEMNITY SCHEME LIMITED (REGISTERED NUMBER: 07596523)

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


1. STATUTORY INFORMATION

Surgical Indemnity Scheme Limited 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.

The directors have considered the going concern position of the company for a period of not less than 12 months from the date of signing this report. At 31 December 2022 the company had net liabilities of £745. The holding company has confirmed that it will provide full support to the company for a period of at least 12 months from the date of signing of the accounts.. Therefore these financial statements are prepared under the going concern basis.

Turnover
Turnover represents commission receivable on introductions made to the insurance broker.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost

Taxation
Taxation for the year comprises current tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current 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.

3. EMPLOYEES AND DIRECTORS

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

SURGICAL INDEMNITY SCHEME LIMITED (REGISTERED NUMBER: 07596523)

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


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 2,880
DEPRECIATION
At 1 January 2023
and 31 December 2023 2,880
NET BOOK VALUE
At 31 December 2023 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 6 40

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 3,680 3,667
Taxation and social security - 54
Other creditors 1,741 2,941
5,421 6,662

7. RELATED PARTY DISCLOSURES

During the year the parent company Association of Surgeons of Great Britain and Ireland Limited was owed a balance of £3,667 (2021:£8615), this amount remains outstanding at the balance sheet date.


8. ULTIMATE CONTROLLING PARTY

The controlling party is Association of Surgeons of GreatBritain and Ireland Limited.

The company is controlled by its parent, by virtue of its 100% interest in the issued ordinary share capital of the company.