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REGISTERED NUMBER: 07494347 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

WALSALL ROAD MEDICAL LIMITED

WALSALL ROAD MEDICAL LIMITED (REGISTERED NUMBER: 07494347)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WALSALL ROAD MEDICAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Dr S Bath
Dr S Deller
Dr G Hundle
Dr M Latthe
Dr T Soyannwo
Dr S Bath





REGISTERED OFFICE: Rex Buildings
Alderley Road
Wilmslow
Cheshire
SK9 1HY





REGISTERED NUMBER: 07494347 (England and Wales)

WALSALL ROAD MEDICAL LIMITED (REGISTERED NUMBER: 07494347)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 11,857 19,124
Investment property 5 7,825,000 9,000,000
7,836,857 9,019,124

CURRENT ASSETS
Debtors 6 163,469 190,238
Cash at bank 224,384 272,856
387,853 463,094
CREDITORS
Amounts falling due within one year 7 636,416 643,770
NET CURRENT LIABILITIES (248,563 ) (180,676 )
TOTAL ASSETS LESS CURRENT LIABILITIES 7,588,294 8,838,448

CREDITORS
Amounts falling due after more than one
year

8

(4,165,648

)

(4,335,473

)

PROVISIONS FOR LIABILITIES 9 (185,498 ) (178,403 )
NET ASSETS 3,237,148 4,324,572

WALSALL ROAD MEDICAL LIMITED (REGISTERED NUMBER: 07494347)

BALANCE SHEET - continued
31 MARCH 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 10 10 10
Revaluation reserve 11 1,634,955 2,809,955
Retained earnings 1,602,183 1,514,607
SHAREHOLDERS' FUNDS 3,237,148 4,324,572

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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 November 2024 and were signed on its behalf by:





Dr T Soyannwo - Director


WALSALL ROAD MEDICAL LIMITED (REGISTERED NUMBER: 07494347)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Walsall Road Medical 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 as modified by the revaluation of certain assets.

RELATED PARTY EXEMPTION
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

TURNOVER
The turnover shown in the profit and loss account represents amount earned during the year and is recognised when the company obtains the right to consideration.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 10% on cost

All fixed assets are initially recorded at cost.

INVESTMENT PROPERTY
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

WALSALL ROAD MEDICAL LIMITED (REGISTERED NUMBER: 07494347)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2023
and 31 March 2024 80,176
DEPRECIATION
At 1 April 2023 61,052
Charge for year 7,267
At 31 March 2024 68,319
NET BOOK VALUE
At 31 March 2024 11,857
At 31 March 2023 19,124

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 9,000,000
Revaluations (1,175,000 )
At 31 March 2024 7,825,000
NET BOOK VALUE
At 31 March 2024 7,825,000
At 31 March 2023 9,000,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2023 7,825,000

WALSALL ROAD MEDICAL LIMITED (REGISTERED NUMBER: 07494347)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 106,386 130,028
Tower Hill intercompany 57,083 59,167
Prepayments - 1,043
163,469 190,238

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 211,760 202,956
Trade creditors 401,537 380,271
Tax 23,119 60,543
636,416 643,770

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 211,760 202,956
Bank loans - 2-5 years 635,280 608,868
Bank loans > 5 years 3,318,608 3,523,649
4,165,648 4,335,473

Amounts falling due in more than five years:

Repayable by instalments
Bank loans > 5 years 3,318,608 3,523,649

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 185,498 178,403

WALSALL ROAD MEDICAL LIMITED (REGISTERED NUMBER: 07494347)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2023 178,403
Charge to Income Statement during year 7,095
Balance at 31 March 2024 185,498

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10 Ordinary £1 10 10

11. RESERVES
Revaluation
reserve
£   
At 1 April 2023 2,809,955
Transfer to retained earnings (1,175,000 )

At 31 March 2024 1,634,955