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REGISTERED NUMBER: 06063350 (England and Wales)














Financial Statements

for the Year Ended 31 March 2024

for

Cornerways Medical Centre Limited

Cornerways Medical Centre Limited (Registered number: 06063350)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Cornerways Medical Centre Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Dr F Maassarani
L Panter
Dr C Kenny





REGISTERED OFFICE: Oriel House
2-8 Oriel Road
Bootle
Merseyside
L20 7EP





REGISTERED NUMBER: 06063350 (England and Wales)





ACCOUNTANTS: SB&P
Chartered Accountants
Oriel House
2-8 Oriel Road
Bootle
Liverpool
Merseyside
L20 7EP

Cornerways Medical Centre Limited (Registered number: 06063350)

Statement of Financial Position
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 15,756 20,029

CURRENT ASSETS
Debtors 5 97,771 14,830
Cash at bank 284,545 244,194
382,316 259,024
CREDITORS
Amounts falling due within one year 6 178,903 112,572
NET CURRENT ASSETS 203,413 146,452
TOTAL ASSETS LESS CURRENT LIABILITIES 219,169 166,481

CREDITORS
Amounts falling due after more than one year 7 (12,212 ) (22,425 )

PROVISIONS FOR LIABILITIES (3,939 ) (3,806 )
NET ASSETS 203,018 140,250

CAPITAL AND RESERVES
Called up share capital 8 102 102
Retained earnings 202,916 140,148
SHAREHOLDERS' FUNDS 203,018 140,250

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Cornerways Medical Centre Limited (Registered number: 06063350)

Statement of Financial Position - continued
31 March 2024


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 November 2024 and were signed on its behalf by:





Dr F Maassarani - Director


Cornerways Medical Centre Limited (Registered number: 06063350)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Cornerways Medical Centre Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover comprises the fair value of the consideration received or receivable for the sale of services in the ordinary course of the company activities. Sales are presented net of rebates and discounts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% on cost
Fixtures and fittings - 15% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 17 ) .

Cornerways Medical Centre Limited (Registered number: 06063350)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and
property fittings Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 14,500 28,684 43,184
DEPRECIATION
At 1 April 2023 3,625 19,530 23,155
Charge for year 2,900 1,373 4,273
At 31 March 2024 6,525 20,903 27,428
NET BOOK VALUE
At 31 March 2024 7,975 7,781 15,756
At 31 March 2023 10,875 9,154 20,029

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 93,158 7,010
Other debtors 4,613 7,820
97,771 14,830

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 10,288 10,075
Trade creditors 37,110 32,448
Taxation and social security 57,865 56,931
Other creditors 73,640 13,118
178,903 112,572

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 12,212 22,425

Cornerways Medical Centre Limited (Registered number: 06063350)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 A 100 100 100
1 B 1 1 1
1 C 1 1 1
102 102

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
L Panter
Balance outstanding at start of year - -
Amounts advanced 188 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 188 -