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REGISTERED NUMBER: 11695322 (England and Wales)










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

SUSSEX PRIMARY CARE LIMITED

SUSSEX PRIMARY CARE LIMITED (REGISTERED NUMBER: 11695322)

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










Page

Balance Sheet 1

Notes to the Financial Statements 2


SUSSEX PRIMARY CARE LIMITED (REGISTERED NUMBER: 11695322)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 14,416 -

CURRENT ASSETS
Stocks 80,278 53,679
Debtors 5 931,618 1,568,551
Cash at bank 319,340 184,728
1,331,236 1,806,958
CREDITORS
Amounts falling due within one year 6 6,430,155 5,142,572
NET CURRENT LIABILITIES (5,098,919 ) (3,335,614 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(5,084,503

)

(3,335,614

)

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings (5,084,504 ) (3,335,615 )
SHAREHOLDERS' FUNDS (5,084,503 ) (3,335,614 )

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 26 November 2024 and were signed on its behalf by:





K Pilcher - Director


SUSSEX PRIMARY CARE LIMITED (REGISTERED NUMBER: 11695322)

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


1. STATUTORY INFORMATION

Sussex Primary Care Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 11695322

Registered office: Brighton General Hospital
c/o Arundel Block Floor 1
Elm Grove
Brighton
East Sussex
BN2 3EW

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.

Going concern
In preparation of the year end accounts the board is required to undertake an assessment as to whether the business will continue as a going concern.

Sussex Primary Care Ltd (SPC) was incorporated by Sussex Community NHS Foundation Trust (SCFT) in 2018 to take on General Practices in Sussex to develop strong partnerships and influence within primary care; develop primary care at scale; and to develop opportunities for integration between primary care and community services with the ability to utilise resources more effectively. The first four years were a period of investment and growth whereas SPC is now in a period of consolidation and no further practices have been added.

SPC made a further loss in 2023/24 of £1,749k (22/23: £1,061k) and had net liabilities of £5,085k as at 31 March 2024 (22/23: £3,336k). To date SPC has financed its deficit through loan funding agreed with its parent company, SCFT.

In 2024/25 SPC is continuing to operate in a deficit position, however there has been notable improvement since 2023/24. Enhanced financial controls have led to significant reductions in temporary staffing costs and in central and corporate costs. SPC has set a target that the deficit should not exceed £750k in 2024/25.

SPC had accessible cash of £319k at 31 March 2024 and, through the use of the available loan facility with its parent company, the balance is expected to remain sufficient to pay liabilities as they fall due throughout the period. The company is financed by intercompany interest free loans amounting to £5,325k at 31 March 2024 (22/23: £4,274k), with a further inter-company facility available as required.

This going concern assessment is dependent on the company's ultimate parent undertaking SCFT not seeking repayment of the amounts currently due to the group and continuing to provide additional financial support during the period. SCFT has indicated that it does not intend to seek repayment of these amounts until SPC is independently financially sustainable.

The SCFT board have agreed that the trust is a going concern, therefore these accounts have been prepared under a going concern basis.

Turnover
Revenue from NHS and Local Authority contracts
Turnover is measured at the fair value of the consideration received or receivable for the delivery of healthcare and related services during the year, as well as the reimbursement of specific costs incurred and other income top-ups to support the delivery of services. The income is recognised at the point that the company becomes entitled to the income.

Revenue from private income
Turnover is measured at the fair value of the consideration received or receivable for the delivery of a service and is recognised at the point the service is provided.

SUSSEX PRIMARY CARE LIMITED (REGISTERED NUMBER: 11695322)

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


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

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
Past and present employees are covered by the provision of the two NHS Pension Schemes. Both schemes are unfunded, defined benefit schemes that cover NHS employers, general practices and other bodies, allowed under the direction of the Secretary of State for Health and Social Care in England and Wales. The scheme is not designed in a way that would enable employers to identify their share of the underlying scheme assets and liabilities. Therefore, the scheme is accounted for as though it is a defined contribution scheme: the cost to the company is taken as equal to the employer's pension contributions payable to the scheme for the accounting period. The contributions are charged to operating expenses as and when they become due.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 218 (2023 - 216 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 14,416
At 31 March 2024 14,416
NET BOOK VALUE
At 31 March 2024 14,416

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 139,905 178,120
Other debtors 791,713 1,390,431
931,618 1,568,551

SUSSEX PRIMARY CARE LIMITED (REGISTERED NUMBER: 11695322)

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


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 212,533 199,748
Amounts owed to group undertakings 5,324,766 4,274,000
Taxation and social security 162,729 175,165
Other creditors 730,127 493,659
6,430,155 5,142,572

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 32,080 32,080
Between one and five years 128,320 128,320
In more than five years 384,960 417,039
545,360 577,439

8. CALLED UP SHARE CAPITAL

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

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Colin Young BA FCA (Senior Statutory Auditor)
for and on behalf of Galloways Accounting

10. PARENT COMPANY

The company is 100% owned by Sussex Community NHS Foundation Trust, Brighton General Hospital, Elm Grove, Brighton BN2 3EW. The company is included in the consolidated financial statements of Sussex Community NHS Foundation Trust, which is the smallest and largest group within which Sussex Primary Care Limited belongs. The consolidated financial statements can be obtained from https://sussexcommunity.nhs.uk/.