Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Dr Robert Adams 17/01/2019 Dr Sarah Colthurst 17/01/2019 Mr Patrick Michael Durant 17/01/2019 Dr Elise Godfrey 17/01/2019 Dr Rachel Caroline Goodger 17/01/2019 Dr Andrew John Green 17/01/2019 Dr Gillian Harrington 01/04/2022 Dr Rona Hellings 17/01/2019 Dr Susan Gillian Latham 03/02/2017 Dr Andrew Platt 17/01/2019 Dr Cara Elizabeth Slane 01/04/2022 Dr Pavithra Vajravelu 03/02/2017 Dr Dolores Maria Weil 17/01/2019 Dr Clare Rosalind Wilson 01/04/2022 Mrs Eve Wright 01/04/2022 24 September 2024 The principal activity of the company is commercial property letting. 10598756 2024-03-31 10598756 bus:Director1 2024-03-31 10598756 bus:Director2 2024-03-31 10598756 bus:Director3 2024-03-31 10598756 bus:Director4 2024-03-31 10598756 bus:Director5 2024-03-31 10598756 bus:Director6 2024-03-31 10598756 bus:Director7 2024-03-31 10598756 bus:Director8 2024-03-31 10598756 bus:Director9 2024-03-31 10598756 bus:Director10 2024-03-31 10598756 bus:Director11 2024-03-31 10598756 bus:Director12 2024-03-31 10598756 bus:Director13 2024-03-31 10598756 bus:Director14 2024-03-31 10598756 bus:Director15 2024-03-31 10598756 2023-03-31 10598756 core:CurrentFinancialInstruments 2024-03-31 10598756 core:CurrentFinancialInstruments 2023-03-31 10598756 core:Non-currentFinancialInstruments 2024-03-31 10598756 core:Non-currentFinancialInstruments 2023-03-31 10598756 core:ShareCapital 2024-03-31 10598756 core:ShareCapital 2023-03-31 10598756 core:RetainedEarningsAccumulatedLosses 2024-03-31 10598756 core:RetainedEarningsAccumulatedLosses 2023-03-31 10598756 core:LandBuildings 2023-03-31 10598756 core:FurnitureFittings 2023-03-31 10598756 core:LandBuildings 2024-03-31 10598756 core:FurnitureFittings 2024-03-31 10598756 core:MoreThanFiveYears 2024-03-31 10598756 core:MoreThanFiveYears 2023-03-31 10598756 2023-04-01 2024-03-31 10598756 bus:FilletedAccounts 2023-04-01 2024-03-31 10598756 bus:SmallEntities 2023-04-01 2024-03-31 10598756 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 10598756 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10598756 bus:Director1 2023-04-01 2024-03-31 10598756 bus:Director2 2023-04-01 2024-03-31 10598756 bus:Director3 2023-04-01 2024-03-31 10598756 bus:Director4 2023-04-01 2024-03-31 10598756 bus:Director5 2023-04-01 2024-03-31 10598756 bus:Director6 2023-04-01 2024-03-31 10598756 bus:Director7 2023-04-01 2024-03-31 10598756 bus:Director8 2023-04-01 2024-03-31 10598756 bus:Director9 2023-04-01 2024-03-31 10598756 bus:Director10 2023-04-01 2024-03-31 10598756 bus:Director11 2023-04-01 2024-03-31 10598756 bus:Director12 2023-04-01 2024-03-31 10598756 bus:Director13 2023-04-01 2024-03-31 10598756 bus:Director14 2023-04-01 2024-03-31 10598756 bus:Director15 2023-04-01 2024-03-31 10598756 core:FurnitureFittings 2023-04-01 2024-03-31 10598756 2022-04-01 2023-03-31 10598756 core:LandBuildings 2023-04-01 2024-03-31 10598756 core:Non-currentFinancialInstruments 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Company No: 10598756 (England and Wales)

MARKSBURY MEDICAL GROUP LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

MARKSBURY MEDICAL GROUP LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

MARKSBURY MEDICAL GROUP LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
MARKSBURY MEDICAL GROUP LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 3,860,420 3,860,695
3,860,420 3,860,695
Current assets
Debtors 4 14,758 2,769
Cash at bank and in hand 82,535 66,217
97,293 68,986
Creditors: amounts falling due within one year 5 ( 122,153) ( 101,027)
Net current liabilities (24,860) (32,041)
Total assets less current liabilities 3,835,560 3,828,654
Creditors: amounts falling due after more than one year 6 ( 3,590,747) ( 3,648,987)
Net assets 244,813 179,667
Capital and reserves
Called-up share capital 153 153
Profit and loss account 244,660 179,514
Total shareholders' funds 244,813 179,667

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Marksbury Medical Group Limited (registered number: 10598756) were approved and authorised for issue by the Board of Directors on 24 September 2024. They were signed on its behalf by:

Dr Robert Adams
Director
MARKSBURY MEDICAL GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
MARKSBURY MEDICAL GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

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.

General information and basis of accounting

Marksbury Medical Group 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 5th Floor 25 King Street, Bristol, BS1 4PB, 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 £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for 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 and settlement discounts.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Fixtures and fittings 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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 profit or loss.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 15 15

3. Tangible assets

Land and buildings Fixtures and fittings Total
£ £ £
Cost/Valuation
At 01 April 2023 3,859,321 3,354 3,862,675
At 31 March 2024 3,859,321 3,354 3,862,675
Accumulated depreciation
At 01 April 2023 0 1,980 1,980
Charge for the financial year 0 275 275
At 31 March 2024 0 2,255 2,255
Net book value
At 31 March 2024 3,859,321 1,099 3,860,420
At 31 March 2023 3,859,321 1,374 3,860,695

Investment properties

The fair value of the commercial investment property has been considered by the directors, and is determined on an open market value for existing use basis.

There has been no valuation of investment property by an independent valuer.

4. Debtors

2024 2023
£ £
Trade debtors 12,338 863
Other debtors 2,420 1,906
14,758 2,769

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 58,241 55,560
Trade creditors 284 703
Other taxation and social security 1,711 1,229
Other creditors 61,917 43,535
122,153 101,027

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 3,590,747 3,648,987

The company has given security on all bank borrowings by way of a first legal charge over the freehold land and buildings, together with a guarantee provided by its directors.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

2024 2023
£ £
Bank loans (repayable by instalments) 3,334,663 3,403,040

7. Related party transactions

The company received rent of £200,004 (2023 - £200,004) from Bridge View Medical, a partnership that involves all of the directors.
At 31 March 2024, no amounts were outstanding in respect of these transactions.