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Registered number: 14651744










SOUTHEND EAST PCN LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 28 FEBRUARY 2024

 
SOUTHEND EAST PCN LIMITED
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SOUTHEND EAST PCN LIMITED
FOR THE PERIOD ENDED 28 FEBRUARY 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Southend East PCN Limited for the period ended 28 February 2024 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Southend East PCN Limited, as a body, in accordance with the terms of our engagement letter dated 8 March 2023Our work has been undertaken solely to prepare for your approval the financial statements of Southend East PCN Limited and state those matters that we have agreed to state to the Board of directors of Southend East PCN Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Southend East PCN Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Southend East PCN Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Southend East PCN Limited. You consider that Southend East PCN Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or review of the financial statements of Southend East PCN Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



MWS
 
Chartered Accountants
  
601 London Road
Westcliff-on-Sea
Essex
SS0 9PE
8 January 2025
Page 1

 
SOUTHEND EAST PCN LIMITED
REGISTERED NUMBER: 14651744

BALANCE SHEET
AS AT 28 FEBRUARY 2024

2024
Note
£

Fixed assets
  

Tangible assets
 4 
11,023

  
11,023

Current assets
  

Debtors: amounts falling due within one year
 5 
86,809

Cash at bank and in hand
 6 
267,318

  
354,127

Creditors: amounts falling due within one year
 7 
(274,072)

Net current assets
  
 
 
80,055

Total assets less current liabilities
  
91,078

  

Net assets
  
91,078


Capital and reserves
  

Called up share capital 
  
5

Profit and loss account
  
91,073

  
91,078


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 8 January 2025.




Mrs T Love
Director

The notes on pages 4 to 7 form part of these financial statements.
Page 2

 
SOUTHEND EAST PCN LIMITED
REGISTERED NUMBER: 14651744

BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2024


Page 3

 
SOUTHEND EAST PCN LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2024

1.


General information

Southend East PCN Limited is a company limited by shares, incorporated in England and Wales.
Its registered office is 601 London Road, Westcliff-on-Sea, Essex, SS0 9PE.
Its primary place of business is Norton Place, 162 Ness Road, Southend-on-Sea, Essex, SS3 9DL.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

  
2.4

Defined benefit pension plan

The company is a member of a defined benefit plan for certain employees. A defined benefit plan defines the pension benefit that the mployee will receive on retirement, usually dependent upon several factors including but not limtied to age, length of service and remuneration. A defined benefit plan is a pension plan that is note a defined contribution plan.
The scheme is the NHS Pension Scheme (England) and is an unfunded statutory public service pension scheme, as such, it is not accounted for within these accounts.

Page 4

 
SOUTHEND EAST PCN LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2024

2.Accounting policies (continued)

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the period was 31.

Page 5

 
SOUTHEND EAST PCN LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2024

4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


Additions
12,445



At 28 February 2024

12,445



Depreciation


Charge for the period on owned assets
1,422



At 28 February 2024

1,422



Net book value



At 28 February 2024
11,023


5.


Debtors

2024
£


Trade debtors
86,809

86,809



6.


Cash and cash equivalents

2024
£

Cash at bank and in hand
267,318

267,318


Page 6

 
SOUTHEND EAST PCN LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2024

7.


Creditors: Amounts falling due within one year

2024
£

Trade creditors
7,220

Corporation tax
22,500

Other taxation and social security
13,362

Other creditors
222,590

Accruals and deferred income
8,400

274,072



8.


Pension commitments

The company participates in the NHS Pensions Scheme. The scheme is an unfunded statutory public service pension scheme with benefits underwritten by the UK Government. The scheme is financed by payments from employers and from those current employees who are members of the scheme and paying contributions at progressively higher marginal rates based on pensionable pay, as specified in the regulations. The rate of employer contributions is set with reference to a four-yearly funding valuation undertaken by the scheme actuary. The last valuation of the scheme was at 31 March 2020, and resulted in an increase to the employer's contribution rate of 3.1% from 20.6% to 23.7% from 1 April 2024, to remain in place until 31 March 2027.
In addition, member pension contributions over the period to 30th September 2023 have been paid within a range of 5.1% to 13.5% and have been anticipated to deliver a yield of 9.8%. From 1 April 2024 the pension rate structure changed with a range of 5.2% to 12.5%.


Page 7