Company No:
Contents
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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794,496 | 789,848 | |||
Current assets | ||||
Debtors | 4 |
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Cash at bank and in hand |
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63,141 | 95,161 | |||
Creditors: amounts falling due within one year | 5 | (
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Net current assets | 43,341 | 66,661 | ||
Total assets less current liabilities | 837,837 | 856,509 | ||
Provision for liabilities | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital | 6 |
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Revaluation reserve |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Brunel Medical Services Limited (registered number:
Dr Richard Veale
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Brunel Medical Services Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Centenary House Peninsula Park, Rydon Lane, Exeter, EX2 7XE, United Kingdom.
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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.
Land and buildings | not depreciated |
Fixtures and fittings |
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Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
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.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.
Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.
Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.
Other basic financial liabilities are measured at amortised cost.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Land and buildings | Fixtures and fittings | Total | |||
£ | £ | £ | |||
Cost | |||||
At 01 May 2023 |
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Additions |
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At 30 April 2024 |
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Accumulated depreciation | |||||
At 01 May 2023 |
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Charge for the financial year |
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At 30 April 2024 |
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Net book value | |||||
At 30 April 2024 |
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At 30 April 2023 |
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2024 | 2023 | ||
£ | £ | ||
Trade debtors |
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Accrued income |
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Other debtors |
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2024 | 2023 | ||
£ | £ | ||
Amounts owed to directors |
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Accruals |
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Taxation and social security |
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2024 | 2023 | ||
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Allotted, called-up and fully-paid | |||
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9,999 | 9,999 |
During the year 529 ordinary E shares, 529 ordinary F shares and 707 ordinary J shares, were reclassified as 1,765 ordinary I shares.
Rights, preferences and restrictions
The E, F, J, H and I ordinary shares have the following rights, preferences and restrictions:
The E, F, J, H and I ordinary shares all carry the same rights and privileges and rank pari passu in all respects, except that in respect of dividends. With regard to dividends, the directors shall not be bound to treat the E, F, J, H and I shares in the same manner.
Other related party transactions
2024 | 2023 | ||
£ | £ | ||
Amounts receivable from related party | 95,580 | 86,923 |
Brunel Medical Practice
(The directors of the company are all partners within the Brunel Medical Practice partnership)
During the year a loan account existed between the company and the Brunel Medical Practice. The company charged the partnership £60,000 (2023: £60,000) for management services in the year. The company also made advances to the partnership in the year amounting to £67,491 (2023: £53,372). Repayments were received from the partnership during the year amounting to £118,834 (2023: £112,034). The loan between the company and the partnership is interest free and repayable on demand.