Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31The principal activity of the LLP during the year was that of a pharmacy.false2023-04-01false1615truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC379888 2023-04-01 2024-03-31 OC379888 2022-04-01 2023-03-31 OC379888 2024-03-31 OC379888 2023-03-31 OC379888 c:Buildings c:LongLeaseholdAssets 2023-04-01 2024-03-31 OC379888 c:Buildings c:LongLeaseholdAssets 2024-03-31 OC379888 c:Buildings c:LongLeaseholdAssets 2023-03-31 OC379888 c:PlantMachinery 2023-04-01 2024-03-31 OC379888 c:PlantMachinery 2024-03-31 OC379888 c:PlantMachinery 2023-03-31 OC379888 c:PlantMachinery c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC379888 c:FurnitureFittings 2023-04-01 2024-03-31 OC379888 c:ComputerEquipment 2023-04-01 2024-03-31 OC379888 c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC379888 c:PatentsTrademarksLicencesConcessionsSimilar 2024-03-31 OC379888 c:PatentsTrademarksLicencesConcessionsSimilar 2023-03-31 OC379888 c:CurrentFinancialInstruments 2024-03-31 OC379888 c:CurrentFinancialInstruments 2023-03-31 OC379888 c:Non-currentFinancialInstruments 2024-03-31 OC379888 c:Non-currentFinancialInstruments 2023-03-31 OC379888 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC379888 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC379888 c:Non-currentFinancialInstruments c:AfterOneYear 2024-03-31 OC379888 c:Non-currentFinancialInstruments c:AfterOneYear 2023-03-31 OC379888 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2024-03-31 OC379888 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2023-03-31 OC379888 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2024-03-31 OC379888 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2023-03-31 OC379888 c:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-03-31 OC379888 c:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-03-31 OC379888 c:FinancialLiabilitiesFairValueThroughProfitOrLoss c:UnlistedNon-exchangeTraded 2024-03-31 OC379888 c:FinancialLiabilitiesFairValueThroughProfitOrLoss c:UnlistedNon-exchangeTraded 2023-03-31 OC379888 d:FRS102 2023-04-01 2024-03-31 OC379888 d:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC379888 d:FullAccounts 2023-04-01 2024-03-31 OC379888 d:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC379888 c:WithinOneYear 2024-03-31 OC379888 c:WithinOneYear 2023-03-31 OC379888 c:BetweenOneFiveYears 2024-03-31 OC379888 c:BetweenOneFiveYears 2023-03-31 OC379888 c:MoreThanFiveYears 2024-03-31 OC379888 c:MoreThanFiveYears 2023-03-31 OC379888 c:PatentsTrademarksLicencesConcessionsSimilar c:OwnedIntangibleAssets 2023-04-01 2024-03-31 OC379888 d:PartnerLLP1 2023-04-01 2024-03-31 OC379888 c:OtherCapitalInstrumentsClassifiedAsEquity 2024-03-31 OC379888 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-03-31 OC379888 c:FurtherSpecificReserve2ComponentTotalEquity 2024-03-31 OC379888 c:FurtherSpecificReserve2ComponentTotalEquity 2023-03-31 OC379888 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 OC379888 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 OC379888 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: OC379888









FELIXSTOWE HEALTHCARE LLP







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
FELIXSTOWE HEALTHCARE LLP
 

CONTENTS



Page
Members' Report
1
Statement of Comprehensive Income
2
Statement of Financial Position
3 - 4
Reconciliation of Members' Interests
5 - 6
Notes to the Financial Statements
7 - 17


 
FELIXSTOWE HEALTHCARE LLP
 
  
MEMBERS' REPORT
FOR THE YEAR ENDED 31 MARCH 2024

The Members present their annual report together with the financial statements of Felixstowe Healthcare LLP ("the LLP") for the year ended 31 March 2024
 

Principal activities
 
 
The principal activity of the LLP during the year was that of a pharmacy.
 
 
Designated Members
 
 
The Designated Members who held office during the year ended and up to the date of signature of the financial statements were as follows:
Community Pharmacies (UK) Limited
Felixstowe Medical LLP
 

 
Members' capital and interests
 
 
Each Member's subscription to the capital of the LLP is determined in accordance with the terms of the LLP Agreement.
 
 
Details of changes in Members' capital in the year ended 31 March 2024 are set out in the Reconciliation of Members' Interests.
 
 
Members are remunerated from the profits of the LLP and are required to make their own provision for tax, pensions and other benefits. Profits are allocated and divided between Members after finalisation of the financial statements. Members may draw a proportion of their profit share monthly during the year in which it is made, with the balance of profits being distributed after the year end, subject to the cash requirements of the business.
 

This report was approved by the Members and signed on their behalf by: 






................................................
Community Pharmacies (UK) Limited 
Designated Member

Date: 5 September 2024
Page 1

 
FELIXSTOWE HEALTHCARE LLP
 
 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2024

2024
2023
Note
£
£

  

Turnover
  
2,967,353
2,799,473

Cost of sales
  
(2,114,133)
(2,011,414)

Gross profit
  
 
853,220
 
788,059

Administrative expenses
  
(689,493)
(595,944)

Operating profit
  
 
163,727
 
192,115

Interest payable and similar expenses
  
(44,730)
(28,366)

Profit before tax
  
 
118,997
 
163,749

Profit for the year before members' remuneration and profit shares
  
 
118,997
 
163,749

Profit for the year before members' remuneration and profit shares
  
118,997
163,749

Members' remuneration charged as an expense
     6 
(118,997)
(163,749)

Profit for the financial year available for discretionary division among members
  
 
-
 
-

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

The notes on pages 7 to 17 form part of these financial statements.

Page 2

 
FELIXSTOWE HEALTHCARE LLP
REGISTERED NUMBER: OC379888

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
680,294
687,249

Tangible assets
 5 
92,507
69,618

  
772,801
756,867

Current assets
  

Stocks
 6 
67,829
70,080

Debtors: amounts falling due within one year
 7 
348,582
358,020

Cash at bank and in hand
 8 
3,439
7,195

  
419,850
435,295

Creditors: amounts falling due within one year
 9 
(771,675)
(620,686)

Net current liabilities
  
 
 
(351,825)
 
 
(185,391)

Total assets less current liabilities
  
420,976
571,476

Creditors: amounts falling due after more than one year
 10 
(469,858)
(534,633)

  
(48,882)
36,843

  

Net (liabilities)/assets
  
(48,882)
36,843

Page 3

 
FELIXSTOWE HEALTHCARE LLP
REGISTERED NUMBER: OC379888
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Represented by:
  

Loans and other debts due to members within one year
  

Amounts due in respect of profits
  
14,522
117,865

Other amounts
  
97,362
79,744

  
111,884
197,609

Members' other interests
  

Members' capital classified as equity
  
2
2

Other reserves classified as equity

  

(160,768)
(160,768)

  
 
(160,766)
 
(160,766)

  
(48,882)
36,843


Total members' interests
  

Loans and other debts due to Members
  
111,883
197,609

Members' other interests
  
(160,766)
(160,766)

  
(48,883)
36,843


The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime.

The entity was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

The Members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements.

The financial statements have been delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved and authorised for issue by the Members and were signed on their behalf by: 


................................................
Community Pharmacies (UK) Limited
Designated Member

Date: 5 September 2024

The notes on pages 7 to 17 form part of these financial statements.

Page 4

 
FELIXSTOWE HEALTHCARE LLP
 

RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 31 MARCH 2024








EQUITY
Members' other interests
DEBT
Loans and other debts due to members less any amounts due from members in debtors
Total members' interests
Members' capital (classified as equity)
Other reserves
Total
Amounts due in respect of profits
Other amounts
Total
Total

£
£
£
£
£
£
£

Amounts due to Members 

274,421
81,452
355,873


Balance at 1 April 2022 

2
(160,768)
(160,766)
274,421
81,452
355,873
195,107

Members' interests after profit for the year
2
(160,768)
(160,766)
274,421
81,452
355,873
195,107

Members' remuneration charged as an expense
-
-
-
127,444
36,305
163,749
163,749

Drawings
-
-
-
(284,000)
(36,305)
(320,305)
(320,305)

Repayment of debt
 
-
-
-
-
(1,708)
(1,708)
(1,708)

Amounts due to Members
 



117,865
79,744
197,609


Balance at 31 March 2023
 
2
(160,768)
(160,766)
117,865
79,744
197,609
36,843

Members' interests after profit for the year
2
(160,768)
(160,766)
117,865
79,744
197,609
36,843

Members' remuneration charged as an expense
-
-
-
80,657
38,340
118,997
118,997

Drawings
-
-
-
(184,000)
(38,340)
(222,340)
(222,340)

Introduced by members
 
-
-
-
-
17,618
17,618
17,618

Amounts due to Members
 



14,522
97,362
111,884


Balance at 31 March 2024 
2
(160,768)
(160,766)
14,522
97,362
111,884
(48,882)

The notes on pages 7 to 17 form part of these financial statements.

Page 5

 
FELIXSTOWE HEALTHCARE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

RECONCILIATION OF MEMBERS' INTERESTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024

There are no existing restrictions or limitations which impact the ability of the Members of the LLP to reduce the amount of Members' other interests.

Page 6

 
FELIXSTOWE HEALTHCARE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Felixstowe Healthcare LLP ("the LLP") is a limited liability partnership incorporated in England and Wales. The registered office is 2 Peterwood Way, Croydon, Surrey, United Kingdom, CR0 4UQ.
The LLP's principal activities and nature of its operations are disclosed in the Members' Report.

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 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the LLP's accounting policies.

The financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest £.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis which assumes the LLP will continue to be able to meet its financial obligations as they fall due.
The pharmacy continues to trade in line with expectations both financially and operationally. The Members believe the LLP has sufficient current and future cash reserves and facilities available for it to meet its liabilities including financing obligations.
The Members will continue to provide additional financial support to the business, if required, to ensure that it is able to meet its financial obligations as they fall due.

 
2.3

Turnover

Turnover is shown, net of Value Added Tax, for goods and services provided to customers.

Page 7

 
FELIXSTOWE HEALTHCARE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

  
2.4

Members' participation rights

Members' participation rights are the rights of a Member against the LLP that arise under the Members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).
Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. Members' participation rights, including amounts subscribed or otherwise contributed by Members, for example Members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to Members, in which case they are classified as equity.
All amounts due to Members that are classified as liabilities are presented within 'Loans and other debts due to Members' and, where such an amount relates to current year profits, they are recognised within ‘Members' remuneration charged as an expense’ in arriving at the relevant year’s result. Unallocated amounts that are classified as equity are shown within ‘Members' other interests’. Amounts recoverable from Members are presented as debtors and shown as amounts due from members within Members’ interests.
Where there exists an asset and liability component in respect of an individual Member’s participation rights, they are presented on a gross basis unless the LLP has both a legally enforceable right to set off the recognised amounts and it intends either to settle on a net basis or to settle and realise these amounts simultaneously, in which case they are presented net.
Whilst the Members’ agreement does not differentiate between profits and losses for profit sharing purposes, it does stipulate that the LLP cannot demand additional contributions from Members and as a result the LLP does not have an unconditional right to demand payment from Members for losses. Therefore, they are not recognised as a recoverable asset and so remain within equity as other reserves.
Other amounts applied to Members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment. Amounts payable to Members under employment contracts and unavoidable interest on Members capital are charged to “Members remuneration charged as an expense” in the relevant year.

 
2.5

Operating leases: the LLP as lessee

Rentals paid under operating leases are charged to the Statement of Comprehensive Income on a straight-line basis over the lease term.

 
2.6

Finance costs

Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 8

 
FELIXSTOWE HEALTHCARE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.7

Borrowing costs

All borrowing costs are recognised in the Statement of Comprehensive Income in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan
The LLP operates a defined contribution pension plan for its employees. A defined contribution pension plan is a pension plan under which the LLP pays fixed contributions into a separate entity. Once the contributions have been paid the LLP has no further payment obligations.
The contributions are recognised as an expense in the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the LLP in independently administered funds.

 
2.9

Intangible assets

Intangible assets comprise a licence to trade as a pharmacy. Intangible assets are stated at cost less
amortisation and are reviewed for impairment whenever there is an indication that the carrying value may be impaired.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
The estimated useful lives range as follows:
        Licence                                 -         100 years

 
2.10

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 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:

Leasehold property
-
7%
straight-line
Fixtures and fittings
-
20%
straight-line
Computer equipment
-
33%
straight-line

The assets' residual values, useful lives and depreciation methods are reviewed and, if appropriate, adjusted prospectively 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 the Statement of Comprehensive Income.

Page 9

 
FELIXSTOWE HEALTHCARE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.11

Stocks

Stocks are stated at the lower of cost and 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, an assessment is made for impairment. Any excess of the carrying amounts of stocks over their estimated selling price less costs to complete and sell is recognised as an impairment loss in the Statement of Comprehensive Income. Reversals of impairment losses are also recognised in the Statement of Comprehensive Income.

 
2.12

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.

 
2.13

Cash and cash equivalents

Cash and cash equivalents include cash in hand and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 

 
2.14

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.

 
2.15

Financial instruments

The LLP only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the LLP would receive for the asset if it were to be sold at the reporting date.
Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an 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.

Page 10

 
FELIXSTOWE HEALTHCARE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

  
2.16

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 LLP is demonstrably committed to terminate the employment of an employee or to provide termination benefits.


3.


Employees

The average monthly number of persons (including Members with contracts of employment) employed during the year was as follows:


        2024
        2023
            No.
            No.







Pharmacy staff
16
15

Page 11

 
FELIXSTOWE HEALTHCARE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Intangible assets




Licence

£



Cost


At 1 April 2023
695,491



At 31 March 2024

695,491



Amortisation


At 1 April 2023
8,242


Charge for the year on owned assets
6,956



At 31 March 2024

15,198



Net book value



At 31 March 2024
680,293



At 31 March 2023
687,249



Page 12

 
FELIXSTOWE HEALTHCARE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets





Leasehold property
Fixtures and fittings and Computer equipment
Total

£
£
£



Cost or valuation


At 1 April 2023
183,791
47,581
231,372


Additions
-
37,023
37,023



At 31 March 2024

183,791
84,604
268,395



Depreciation


At 1 April 2023
120,516
41,238
161,754


Charge for the year on owned assets
9,814
4,320
14,134



At 31 March 2024

130,330
45,558
175,888



Net book value



At 31 March 2024
53,461
39,046
92,507



At 31 March 2023
63,275
6,343
69,618


6.


Stocks

2024
2023
£
£

Finished goods and goods for resale
67,829
70,080

67,829
70,080


Stock recognised as an expense in cost of sales during the year was £2,114,133 (2023 - £2,011,414).

Page 13

 
FELIXSTOWE HEALTHCARE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Debtors

2024
2023
£
£


Trade debtors
269,776
291,847

Other debtors
57,475
45,351

Prepayments and accrued income
21,331
20,822

348,582
358,020



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
3,439
7,195

Less: bank overdrafts
(32,140)
-

(28,701)
7,195



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
32,140
-

Bank loans
110,616
107,732

Trade creditors
425,863
462,885

Other taxation and social security
12,503
8,120

Other creditors
163,204
21,456

Accruals and deferred income
27,349
20,493

771,675
620,686


Bank loans and overdrafts for which security has been given amounted to £142,756 (2023 - £107,732).

Page 14

 
FELIXSTOWE HEALTHCARE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
469,858
534,633

469,858
534,633


The aggregate amount of creditors, falling due after more than one year, for which security has been given amounted to £469,858 (2023 - £534,633).
The bank loan is repayable by equal monthly instalments. Interest will be charged at 2% per annum over the Base Rate. 
The following securities have been given:
(a) Guarantee in favour of the Bank from Day Lewis Plc guaranteeing all liabilities of the LLP limited to £350,000.
(b) Guarantee in favour of the Bank from Dr Stephen Robert James Feltwell, Dr Rajiv Chhabra and Dr Jason Kevin Francis guaranteeing all liabilities of the LLP limited to £350,000.


11.


Loans and other debts due to Members

In the event of a winding up the amounts included in "Loans and other debts due to Members" will rank equally with unsecured creditors.

Page 15

 
FELIXSTOWE HEALTHCARE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

12.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
110,616
107,732


110,616
107,732

Amounts falling due 1-2 years

Bank loans
110,616
107,732


110,616
107,732

Amounts falling due 2-5 years

Bank loans
359,242
426,901


359,242
426,901


580,474
642,365



13.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
3,439
7,195

Financial assets measured at amortised cost
348,582
358,020

352,021
365,215


Financial liabilities


Other financial liabilities measured at fair value through profit or loss
(612,614)
(642,365)

Financial liabilities measured at amortised cost
(759,172)
(612,566)

(1,371,786)
(1,254,931)

Page 16

 
FELIXSTOWE HEALTHCARE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

14.


Pension commitments

The LLP operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the LLP in an independently administered fund. The pension cost charge represents contributions payable by the LLP to the fund and amounted to £7,682 (2023 - £6,696). Contributions totalling £1,836 (2023 - £1,305) were payable to the fund at the Balance Sheet date and are included in creditors.


15.


Commitments under operating leases

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

2024
2023
£
£


Not later than 1 year
58,338
58,338

Later than 1 year and not later than 5 years
233,353
233,353

Later than 5 years
345,236
403,733

636,927
695,424


16.


Related party transactions

Community Pharmacies (UK) Limited is a designated Member.
During the year management charges payable to Community Pharmacies (UK) Limited of £29,540 
(2023 - £27,505).
During the year expenses totalling £114,435 
(2023 - £37,429) were paid by Community Pharmacies (UK) Limited. As at 31 March 2024 the LLP owed £17,362 (2023 - £256 was owed by) to Community Pharmacies (UK) Limited.
Other debts due to Members include £40,000 
(2023 - £40,000) owed to Community Pharmacies (UK) Limited. Interest charged on the loan during the year amounted to £4,400 (2023 - £4,400).
Felixstowe Medical LLP is a designated Member.
Other debts due to Members include £40,000 
(2023 - £40,000) owed to Felixstowe Medical LLP. Interest charged on the loan during the year amounted to £4,400 (2023 - £4,400).
During the year the LLP made purchases totalling £1,018,186 
(2023 - £1,002,873) from Day Lewis Medical Limited, a fellow subsidiary of the parent company of Community Pharmacies (UK) Limited, Day Lewis Plc. As at 31 March 2024 the LLP owed £247,739 (2023 - £277,509) to Day Lewis Medical Limited.

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