Company registration number 09828857 (England and Wales)
MOORLAND MEDICAL SERVICES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
MOORLAND MEDICAL SERVICES LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
MOORLAND MEDICAL SERVICES LTD
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
3
747,101
747,101
Current assets
Debtors
4
18,942
7,872
Cash at bank and in hand
9,718
8,801
28,660
16,673
Creditors: amounts falling due within one year
5
(58,098)
(50,212)
Net current liabilities
(29,438)
(33,539)
Total assets less current liabilities
717,663
713,562
Creditors: amounts falling due after more than one year
6
(243,221)
(309,007)
Net assets
474,442
404,555
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
474,342
404,455
Total equity
474,442
404,555

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 24 September 2024 and are signed on its behalf by:
Dr N Briscoe
Director
Company registration number 09828857 (England and Wales)
MOORLAND MEDICAL SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

Moorland Medical Services Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Moorland Medical Centre, Dyson House, Regent Street, Leek, Staffordshire, ST13 6LU.

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 have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets.

1.5
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.

MOORLAND MEDICAL SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, 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.

 

 

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Derivatives

Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to fair value at each reporting end date. The resulting gain or loss is recognised in profit or loss immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in profit or loss depends on the nature of the hedge relationship.

 

A derivative with a positive fair value is recognised as a financial asset, whereas a derivative with a negative fair value is recognised as a financial liability.

1.8
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. 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.

 

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised.

1.9
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.

1.10
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

MOORLAND MEDICAL SERVICES 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
Number
Number
Total
-
0
-
0
3
Investment property
2024
£
Fair value
At 1 April 2023 and 31 March 2024
747,101

The directors have considered the valuation of the investment properties and in their estimation, the fair

value of investment properties is £747,101.

 

4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
18,942
7,872
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
31,000
31,000
Corporation tax
20,115
13,750
Other creditors
6,983
5,462
58,098
50,212
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
243,221
309,007
Creditors which fall due after five years are as follows:
2024
2023
£
£
Payable by instalments
119,221
185,007
MOORLAND MEDICAL SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
7
Called up share capital
2024
2023
£
£
Issued and fully paid
100 Ordinary of £1 each
100
100
8
Related party transactions

During the year rent of £92,110 was received from Moorland Medical Centre (2023: £76,158). The directors and shareholders are partners in this medical practice.

MOORLAND MEDICAL SERVICES LTD
MANAGEMENT INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024
2024-03-312023-04-01falseCCH SoftwareCCH Accounts Production 2024.210No description of principal activityDr N BriscoeDr A FosterDr J A ShahDr J Greigfalsefalse2024-09-24098288572023-04-012024-03-31098288572024-03-31098288572023-03-3109828857core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-3109828857core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3109828857core:Non-currentFinancialInstrumentscore:AfterOneYear2024-03-3109828857core:Non-currentFinancialInstrumentscore:AfterOneYear2023-03-3109828857core:CurrentFinancialInstruments2024-03-3109828857core:CurrentFinancialInstruments2023-03-3109828857core:ShareCapital2024-03-3109828857core:ShareCapital2023-03-3109828857core:RetainedEarningsAccumulatedLosses2024-03-3109828857core:RetainedEarningsAccumulatedLosses2023-03-3109828857bus:Director12023-04-012024-03-31098288572022-04-012023-03-31098288572023-03-3109828857core:Non-currentFinancialInstruments2024-03-3109828857core:Non-currentFinancialInstruments2023-03-3109828857bus:PrivateLimitedCompanyLtd2023-04-012024-03-3109828857bus:SmallCompaniesRegimeForAccounts2023-04-012024-03-3109828857bus:FRS1022023-04-012024-03-3109828857bus:AuditExemptWithAccountantsReport2023-04-012024-03-3109828857bus:Director22023-04-012024-03-3109828857bus:Director32023-04-012024-03-3109828857bus:Director42023-04-012024-03-3109828857bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP