0
01/04/2023
31/03/2024
2024-03-31
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No description of principal activities is disclosed
2023-04-01
Sage Accounts Production 23.0 - FRS102_2023
xbrli:pure
xbrli:shares
iso4217:GBP
08455647
2023-04-01
2024-03-31
08455647
2024-03-31
08455647
2023-03-31
08455647
2022-04-01
2023-03-31
08455647
2023-03-31
08455647
2022-03-31
08455647
core:PlantMachinery
2023-04-01
2024-03-31
08455647
core:MotorVehicles
2023-04-01
2024-03-31
08455647
bus:Director2
2023-04-01
2024-03-31
08455647
core:LandBuildings
core:ShortLeaseholdAssets
2023-03-31
08455647
core:FurnitureFittingsToolsEquipment
2023-03-31
08455647
core:MotorVehicles
2023-03-31
08455647
core:LandBuildings
core:ShortLeaseholdAssets
2024-03-31
08455647
core:FurnitureFittingsToolsEquipment
2024-03-31
08455647
core:MotorVehicles
2024-03-31
08455647
core:WithinOneYear
2024-03-31
08455647
core:WithinOneYear
2023-03-31
08455647
core:ShareCapital
2024-03-31
08455647
core:ShareCapital
2023-03-31
08455647
core:RevaluationReserve
2023-03-31
08455647
core:RetainedEarningsAccumulatedLosses
2024-03-31
08455647
core:RetainedEarningsAccumulatedLosses
2023-03-31
08455647
core:LandBuildings
core:ShortLeaseholdAssets
2023-04-01
2024-03-31
08455647
core:FurnitureFittingsToolsEquipment
2023-04-01
2024-03-31
08455647
core:CostValuation
core:Non-currentFinancialInstruments
2023-03-31
08455647
core:AdditionsToInvestments
core:Non-currentFinancialInstruments
2024-03-31
08455647
core:DisposalsRepaymentsInvestments
core:Non-currentFinancialInstruments
2024-03-31
08455647
core:Non-currentFinancialInstruments
core:RevaluationsIncreaseDecreaseInInvestments
2024-03-31
08455647
core:CostValuation
core:Non-currentFinancialInstruments
2024-03-31
08455647
core:Non-currentFinancialInstruments
2024-03-31
08455647
core:Non-currentFinancialInstruments
2023-03-31
08455647
core:FurtherSpecificIncreaseDecreaseInProvisionsForImpairmentInvestments1ComponentCorrespondingTotal
core:Non-currentFinancialInstruments
2024-03-31
08455647
core:LandBuildings
core:ShortLeaseholdAssets
2023-03-31
08455647
core:FurnitureFittingsToolsEquipment
2023-03-31
08455647
core:MotorVehicles
2023-03-31
08455647
bus:SmallEntities
2023-04-01
2024-03-31
08455647
bus:AuditExemptWithAccountantsReport
2023-04-01
2024-03-31
08455647
bus:SmallCompaniesRegimeForAccounts
2023-04-01
2024-03-31
08455647
bus:PrivateLimitedCompanyLtd
2023-04-01
2024-03-31
08455647
bus:FullAccounts
2023-04-01
2024-03-31
Company registration number:
08455647
Cumbria Medical Services Limited
Unaudited filleted financial statements
For the year ended
31 March 2024
Cumbria Medical Services Limited
Contents
Statement of financial position
Notes to the financial statements
Cumbria Medical Services Limited
Statement of financial position
31 March 2024
|
|
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2024 |
|
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2023 |
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Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Tangible assets |
|
4 |
30,598 |
|
|
|
66,438 |
|
|
Investments |
|
5 |
2,740 |
|
|
|
533,757 |
|
|
|
|
|
________ |
|
|
|
________ |
|
|
|
|
|
|
|
33,338 |
|
|
|
600,195 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
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Stocks |
|
|
6,900 |
|
|
|
6,900 |
|
|
Debtors |
|
6 |
977,666 |
|
|
|
1,104,588 |
|
|
Cash at bank and in hand |
|
|
180,020 |
|
|
|
167,934 |
|
|
|
|
|
________ |
|
|
|
________ |
|
|
|
|
|
1,164,586 |
|
|
|
1,279,422 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
7 |
(
167,251) |
|
|
|
(
204,611) |
|
|
|
|
|
________ |
|
|
|
________ |
|
|
Net current assets |
|
|
|
|
997,335 |
|
|
|
1,074,811 |
|
|
|
|
|
________ |
|
|
|
________ |
Total assets less current liabilities |
|
|
|
|
1,030,673 |
|
|
|
1,675,006 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities |
|
|
|
|
(
3,764) |
|
|
|
(
13,394) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
________ |
|
|
|
________ |
Net assets |
|
|
|
|
1,026,909 |
|
|
|
1,661,612 |
|
|
|
|
|
________ |
|
|
|
________ |
|
|
|
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|
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|
|
|
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Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
|
|
|
1,052 |
|
|
|
1,051 |
Fair value reserve |
|
8 |
|
|
- |
|
|
|
117,556 |
Profit and loss account |
|
8 |
|
|
1,025,857 |
|
|
|
1,543,005 |
|
|
|
|
|
________ |
|
|
|
________ |
Shareholders funds |
|
|
|
|
1,026,909 |
|
|
|
1,661,612 |
|
|
|
|
|
________ |
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|
________ |
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For the 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
21 November 2024
, and are signed on behalf of the board by:
Dr M J White
Director
Company registration number:
08455647
Cumbria Medical Services Limited
Notes to the financial statements
Year ended 31 March 2024
1.
Accounting policies
General information
The company is a private company limited by shares, registered in England and Wales, registration number
08455647
. The address of the registered office is Oxford Chambers, New Oxford Street, Workington, CA14 2LR.
Basis of preparation
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied with the same financial statements.
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover consists of the sales value, excluding VAT, of all work done in the period under contracts to supply services to third parties. It includes the relevant proportion of contract values where work is partially performed in the period.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Short leasehold property |
- |
Straight line over the term of the lease
|
|
|
Plant and machinery |
- |
20 % |
straight line |
|
Motor vehicles |
- |
25 % |
straight line |
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially measured at fair value, which is normally the transaction price. Investments are subsequently carried at fair value with changes in fair value being recognised in the statement of comprehensive income.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured 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 the stocks to their present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model and the performance model.
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Deferred taxation
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.Tax deferred or accelerated is accounted for in respect of all material timing differences.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for fixed asset investments which are measured at fair value, with changes recognised in the fair value reserve.
2.
Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2023: Nil).
3.
Income from other fixed asset investments
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Income from other fixed asset investments |
|
13,924 |
6,403 |
|
Loss on disposal of fixed asset investments |
|
(5,699) |
(3,374) |
|
|
|
________ |
________ |
|
|
|
8,225 |
3,029 |
|
|
|
________ |
________ |
|
|
|
|
|
4.
Tangible assets
|
|
Short leasehold property |
Fixtures, fittings and equipment |
Motor vehicles |
Total |
|
|
|
|
|
£ |
£ |
£ |
£ |
|
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 April 2023 |
11,435 |
96,526 |
100,003 |
207,964 |
|
|
|
|
Additions |
- |
1,508 |
- |
1,508 |
|
|
|
|
|
________ |
________ |
________ |
________ |
|
|
|
|
At 31 March 2024 |
11,435 |
98,034 |
100,003 |
209,472 |
|
|
|
|
|
________ |
________ |
________ |
________ |
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 April 2023 |
2,214 |
60,815 |
78,497 |
141,526 |
|
|
|
|
Charge for the year |
3,503 |
12,339 |
21,506 |
37,348 |
|
|
|
|
|
________ |
________ |
________ |
________ |
|
|
|
|
At 31 March 2024 |
5,717 |
73,154 |
100,003 |
178,874 |
|
|
|
|
|
________ |
________ |
________ |
________ |
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 31 March 2024 |
5,718 |
24,880 |
- |
30,598 |
|
|
|
|
|
________ |
________ |
________ |
________ |
|
|
|
|
At 31 March 2023 |
9,221 |
35,711 |
21,506 |
66,438 |
|
|
|
|
|
________ |
________ |
________ |
________ |
|
|
|
|
|
|
|
|
|
|
|
|
5.
Investments
|
|
Other investments other than loans |
Total |
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
Cost or valuation |
|
|
|
|
|
|
|
At 1 April 2023 |
533,757 |
533,757 |
|
|
|
|
|
Additions |
2,051 |
2,051 |
|
|
|
|
|
Disposals |
(
529,614) |
(
529,614) |
|
|
|
|
|
Revaluations |
(
3,454) |
(
3,454) |
|
|
|
|
|
|
________ |
________ |
|
|
|
|
|
At 31 March 2024 |
2,740 |
2,740 |
|
|
|
|
|
|
________ |
________ |
|
|
|
|
|
Impairment |
|
|
|
|
|
|
|
At 1 April 2023 and 31 March 2024 |
- |
- |
|
|
|
|
|
|
________ |
________ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
At 31 March 2024 |
2,740 |
2,740 |
|
|
|
|
|
|
________ |
________ |
|
|
|
|
|
At 31 March 2023 |
533,757 |
533,757 |
|
|
|
|
|
|
________ |
________ |
|
|
|
|
|
|
|
|
|
|
|
|
Investments held at valuation
In respect of investments held at valuation, the comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:
|
|
Other investments other than loans |
Total |
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
At 31 March 2024 |
|
|
|
|
|
|
|
Aggregate cost |
5,990 |
5,990 |
|
|
|
|
|
Aggregate depreciation |
- |
- |
|
|
|
|
|
|
________ |
________ |
|
|
|
|
|
Carrying amount |
5,990 |
5,990 |
|
|
|
|
|
|
________ |
________ |
|
|
|
|
|
|
|
|
|
|
|
|
|
At 31 March 2023 |
|
|
|
|
|
|
|
Aggregate cost |
416,201 |
416,201 |
|
|
|
|
|
Aggregate depreciation |
- |
- |
|
|
|
|
|
|
________ |
________ |
|
|
|
|
|
Carrying amount |
416,201 |
416,201 |
|
|
|
|
|
|
________ |
________ |
|
|
|
|
|
|
|
|
|
|
|
|
6.
Debtors
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Trade debtors |
|
55,084 |
79,869 |
|
Other debtors |
|
922,582 |
1,024,719 |
|
|
|
________ |
________ |
|
|
|
977,666 |
1,104,588 |
|
|
|
________ |
________ |
|
|
|
|
|
7.
Creditors: amounts falling due within one year
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Trade creditors |
|
26,388 |
43,843 |
|
Taxation and social security |
|
91,993 |
111,206 |
|
Directors loan account |
|
545 |
- |
|
Other creditors |
|
48,325 |
49,562 |
|
|
|
________ |
________ |
|
|
|
167,251 |
204,611 |
|
|
|
________ |
________ |
|
|
|
|
|
8.
Reserves
The fair value reserve is in respect of the recognition of listed investments at market value. The fair value reserve is non distributable.
9.
Directors advances, credits and guarantees
No advances (2023 - £1,395) were made during the year to Dr F L Chaudhri, a director. Repayments of £2,800 were made by 31 March 2024 and so the balance outstanding at the year end, 31 March 2024, was £nil (2023 - £2,800). During the year the company made advances to
Dr M J White
, a director, totalling £37,146 (2023 - £nil). Repayments of £22,919 (2023 - £31,122) were made by 31 March 2024 and so the balance outstanding at the year end, 31 March 2024, was £629,738 (2023 - £615,511). Where applicable, interest is charged on overdrawn loan accounts at the rate 2% per annum for the period to 5 April 2023 and 2.25% per annum thereafter. Loans are repayable on demand.