Company registration number 06362832 (England and Wales)
CHESHIRE LOCAL MEDICAL COMMITTEE LIMITED
(LIMITED BY GUARANTEE)
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
CHESHIRE LOCAL MEDICAL COMMITTEE LIMITED
(LIMITED BY GUARANTEE)
CONTENTS
Page
Balance sheet
5
Notes to the financial statements
6 - 10
CHESHIRE LOCAL MEDICAL COMMITTEE LIMITED
(LIMITED BY GUARANTEE)
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2024
- 1 -
Principal Activities
The principal activity continued to be that of a Local Medical Committee currently recognised under section 97 of the 2006 NHS Act.
Review of the Business
Review of the year by the Chairman
2024 has been a momentous year for General Practice and it has been a great privilege to Chair the Cheshire LMC for another year. I am very proud of how the LMC has supported colleagues within Cheshire over the last 12 months.
2024 has been the year in which General Practice has said enough is enough. The Profession was united behind rejecting the insulting imposed contract earlier in the year. We stood as one to let the system know that we could not continue with the same progressive deterioration in our funding and conditions and Partners have taken the next step in again overwhelming voting for supporting Collective Action to try to force change.
We have collectively demonstrated that the incremental cuts which have been inflicted on practices have led to an entirely untenable situation where many of us are genuinely fearful for the future for our Practices, our colleagues, staff and patients. We have realised that if we don't fight now, General Practice as we know it will disappear.
The LMC has been central in advising and supporting practices in how we can work together to try to bring about meaningful change. To this end we have forged ever closer ties with the central GPC leadership team and we have been very grateful for their support and leadership.
The LMC has continued to work within our Confederations and our Place Colleagues to try to be collaborative when appropriate. Much work has been done on the Primary and Secondary Care Interface which has led to real change in how GPs interact with the rest of the system. Much of this goes under the radar but this crucial and tireless work is essential to try to improve many of the challenges faced. We have attended several national conferences with colleagues to represent Cheshire nationally and to learn from colleagues around the country.
The Wider Committee has grown in strength over the year and it is a pleasure to hear the experience and wisdom of LMC members expertly representing their constituents in the County Meetings. We are acutely aware that the LMC is funded through levies from our member practices, especially at a time when we have experienced such a squeeze in our funding. As such we continue to strive to provide excellent value for money and support Cheshire Practices to the very best of our ability.
Dr David Ward
Chairman
4 September 2024
CHESHIRE LOCAL MEDICAL COMMITTEE LIMITED
(LIMITED BY GUARANTEE)
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
Report by the LMC Medical Director
This is my first annual report since the retirement of my predecessor Dr Branwen Martin. I have been fortunate to welcome two new members to the Cheshire LMC Board, Dr Shana Tam, and Dr Nicola Bishop this year, along with the continued support of the existing Board members.
Over the last year the County-wide LMC members met in person and with a virtual option to discuss national contract issues and local hot topics. Much of the agenda focussed on safe working in general practice and the impact on general practices as a result of the legislative changes with the creation of the C&M ICS and Place based commissioning teams. It also included debate about workload, workforce, and investment in primary care.
We extended our engagement with NHS England's Cheshire and Merseyside team and senior officers within the C&M ICB and Cheshire Place teams. This included engagement with the Primary Care Advisory Forum, Estates, Workforce, Winter, and Flu Groups. We also met senior managers from the two Local Authorities' Public Health and Commissioning Teams in relation to the services they commission from GP practices.
Collaboration with PCN CDs, Federations and Cheshire LMC allowed for the development of a governance structure and supported practice engagement within the newly formed Cheshire East and West GP Collaborative provider organizations. Similarly, collaboration with the other Cheshire and Merseyside LMCs through the Association of Cheshire and Merseyside LMCs has provided a forum to debate issues and influence policy for the benefit of GPs working within the area.
Our Training and Development Programs such as the NextGen GP focusing on helping trainee GPs and GPs in the first years of practice and the Phoenix program aimed at mid-career GPs helping them reflect and review their career with the goal of retaining or regaining enthusiasm, continue to be popular. We continue to work with the Cheshire and Merseyside training hub to support the training and retention of GPs in the area.
Our fourth Annual GP Conference held at Nunsmere Hall was well received and included interesting presentations and debate around the future of General Practice, safe working and working at scale.
Our focus is on ensuring practices have the resources which are necessary to deliver high quality patient care in an environment where GPs and their teams are valued. To this end we have ensured the voice of our GPs is heard in multiple fora. We continue to push back to stop the transfer of work into general practice without agreed additional resources. I thank our member practices for letting us know of incidents of inappropriate workload shift.
Please continue to empower us to represent you even more firmly in the coming year by telling me any my Cheshire LMC colleagues, what is annoying you.
On behalf of Julie, William, and myself I would like to thank all the GPs, their staff, primary care colleagues and those in partner organisations from Cheshire and beyond who have contacted, supported, and engaged with us over the past year.
Dr Daniel Harle
Medical Director
4 September 2024
CHESHIRE LOCAL MEDICAL COMMITTEE LIMITED
(LIMITED BY GUARANTEE)
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
Dr D G Ward
Dr G R Kent
Dr D Harle
Dr S Tam
(Appointed 10 May 2023)
Auditor
Afford Bond Holdings Limited were appointed auditor to the company and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at a General Meeting.
Statement of disclosure to auditor
So far as the directors are aware, there is no relevant audit information of which the company's auditor are unaware. Additionally, the directors have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company's auditors are aware of that information.
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
By order of the board
Mr W Greenwood
Secretary
4 September 2024
CHESHIRE LOCAL MEDICAL COMMITTEE LIMITED
(LIMITED BY GUARANTEE)
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
The directors are responsible for preparing the annual 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 surplus or deficit of the company for that period. In preparing these financial statements, the directors are required to:
select suitable accounting policies and then apply them consistently;
make judgements 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 enable them to ensure that the financial statements comply with the Companies Act 2006. They 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.
CHESHIRE LOCAL MEDICAL COMMITTEE LIMITED
(LIMITED BY GUARANTEE)
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 5 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
9,786
6,244
Current assets
Debtors
5
36,520
33,515
Cash at bank and in hand
163,606
167,934
200,126
201,449
Creditors: amounts falling due within one year
6
(26,787)
(32,545)
Net current assets
173,339
168,904
Total assets less current liabilities
183,125
175,148
Reserves
Income and expenditure account
183,125
175,148
The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true
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 4 September 2024 and are signed on its behalf by:
.................................
..............................
Dr D G Ward
Dr G R Kent
Director
Director
.................................
..............................
Dr D Harle
Dr S Tam
Director
Director
Company Registration No. 06362832
CHESHIRE LOCAL MEDICAL COMMITTEE LIMITED
(LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
1
Accounting policies
Company information
Cheshire Local Medical Committee Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is c/o Afford Bond Holdings Limited, 31 Wellington Road, Nantwich, Cheshire, CW5 7ED.
1.1
Accounting convention
The financial statements are prepared under the historical cost convention.
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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Income and expenditure
Income and expenses are included in the financial statements as they become receivable or due.
Expenses include VAT where applicable as the company cannot reclaim it.
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, fittings & equipment
15% Reducing balance basis
Website costs
25% Reducing balance basis
Chair's badge
Straight line over 178 years
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 surplus or deficit.
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). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in surplus or deficit, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
CHESHIRE LOCAL MEDICAL COMMITTEE LIMITED
(LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 7 -
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in surplus or deficit, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
1.5
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 current liabilities.
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.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
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, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
CHESHIRE LOCAL MEDICAL COMMITTEE LIMITED
(LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 8 -
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.
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.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.9
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
1.10
Company limited by guarantee
Cheshire Local Medical Committee is a company limited by Guarantee and accordingly does not have issued share capital.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
5
4
CHESHIRE LOCAL MEDICAL COMMITTEE LIMITED
(LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 9 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023
28,803
Additions
7,680
Disposals
(8,752)
At 31 March 2024
27,731
Depreciation and impairment
At 1 April 2023
22,559
Depreciation charged in the year
3,209
Eliminated in respect of disposals
(7,823)
At 31 March 2024
17,945
Carrying amount
At 31 March 2024
9,786
At 31 March 2023
6,244
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
36,520
33,515
6
Creditors: amounts falling due within one year
2024
2023
£
£
Taxation and social security
318
3,900
Other creditors
26,469
28,645
26,787
32,545
7
Members' liability
The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.
CHESHIRE LOCAL MEDICAL COMMITTEE LIMITED
(LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 10 -
8
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
Senior Statutory Auditor:
Paul Edwards FCCA CTA
Statutory Auditor:
Afford Bond Holdings Limited
Date of audit report:
4 September 2024
2024-03-312023-04-01false04 September 2024CCH SoftwareCCH Accounts Production 2024.100This audit opinion is unqualifiedDr D G WardDr G R KentDr D HarleDr S TamMr W Greenwoodfalsefalse063628322023-04-012024-03-31063628322024-03-3106362832bus:Director12023-04-012024-03-3106362832bus:Director22023-04-012024-03-3106362832bus:Director32023-04-012024-03-3106362832bus:Director42023-04-012024-03-3106362832bus:CompanySecretary12023-04-012024-03-31063628322023-03-3106362832core:OtherPropertyPlantEquipment2024-03-3106362832core:OtherPropertyPlantEquipment2023-03-3106362832core:CurrentFinancialInstruments2024-03-3106362832core:CurrentFinancialInstruments2023-03-3106362832core:RetainedEarningsAccumulatedLosses2024-03-3106362832core:RetainedEarningsAccumulatedLosses2023-03-3106362832core:FurnitureFittings2023-04-012024-03-3106362832core:ComputerEquipment2023-04-012024-03-3106362832core:MotorVehicles2023-04-012024-03-31063628322022-04-012023-03-3106362832core:OtherPropertyPlantEquipment2023-03-3106362832core:OtherPropertyPlantEquipment2023-04-012024-03-3106362832core:WithinOneYear2024-03-3106362832core:WithinOneYear2023-03-3106362832bus:CompanyLimitedByGuarantee2023-04-012024-03-3106362832bus:SmallCompaniesRegimeForAccounts2023-04-012024-03-3106362832bus:FRS1022023-04-012024-03-3106362832bus:Audited2023-04-012024-03-3106362832bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP