Company registration number 10600086 (England and Wales)
SOUTH TYNESIDE HEALTH COLLABORATION LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
SOUTH TYNESIDE HEALTH COLLABORATION LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
SOUTH TYNESIDE HEALTH COLLABORATION LTD
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
7,278
10,388
Current assets
Debtors
4
1,810,261
1,872,730
Cash at bank and in hand
1,987,117
2,497,261
3,797,378
4,369,991
Creditors: amounts falling due within one year
5
(3,355,282)
(4,127,148)
Net current assets
442,096
242,843
Net assets
449,374
253,231
Capital and reserves
Called up share capital
6
1,255
1,255
Profit and loss reserves
448,119
251,976
Total equity
449,374
253,231

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.

The financial statements were approved by the board of directors and authorised for issue on 04 September 2024 and are signed on its behalf by:
Mrs Tara Burrell
Director
Company registration number 10600086 (England and Wales)
SOUTH TYNESIDE HEALTH COLLABORATION LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

South Tyneside Health Collaboration Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Stanhope Parade Health Centre, Gordon Street, South Shields, NE33 4JP.

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

Revenue represents amounts receivable for general medical practice activities. Revenue is attributable to the continuing principal activity of the company and arose wholly within the United Kingdom.

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:

Fixtures and fittings
15% reducing balance
Computer equipment
33% straight line
1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.5
Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs.

SOUTH TYNESIDE HEALTH COLLABORATION LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.7
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.

1.8
Employee benefits

The costs of short-term employee benefits, including holiday pay and other similar non-monetary benefits are recognised as an expense in the period in which the service is received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Past and present employees are covered by the provisions of the NHS Pension Scheme. The scheme is an unfunded, defined benefit scheme that covers NHS employers, GP practices and other bodies, allowed under the direction of the Secretary of State, in England and Wales. The scheme is not designed to be run in a way that would enable NHS bodies to identify their share of the underlying scheme assets and liabilities. Therefore, the scheme is accounted for as if it were a defined contribution scheme: the cost to the NHS Body of participating in the scheme is taken as equal to the contributions payable to the scheme for the accounting period.

SOUTH TYNESIDE HEALTH COLLABORATION LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Total
110
142
3
Tangible fixed assets
Fixtures and fittings
Computer equipment
Total
£
£
£
Cost
At 1 April 2023 and 31 March 2024
11,747
40,579
52,326
Depreciation and impairment
At 1 April 2023
3,511
38,427
41,938
Depreciation charged in the year
1,237
1,873
3,110
At 31 March 2024
4,748
40,300
45,048
Carrying amount
At 31 March 2024
6,999
279
7,278
At 31 March 2023
8,236
2,152
10,388
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,794,596
1,856,750
Corporation tax recoverable
-
0
5,423
Other debtors
15,665
10,557
1,810,261
1,872,730
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,092,735
678,649
Corporation tax
68,672
-
0
Other taxation and social security
65,583
50,402
Other creditors
2,128,292
3,398,097
3,355,282
4,127,148
SOUTH TYNESIDE HEALTH COLLABORATION LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
6
Called up share capital
2024
2023
Ordinary share capital
£
£
Issued and fully paid
33 ordinary A shares of £1 each
33
33
122,163 ordindary B shares of 1p each
1,222
1,222
1,255
1,255
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