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Company No: OC307739 (England and Wales)

POUNDBURY CLINIC MANAGEMENT LLP

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

POUNDBURY CLINIC MANAGEMENT LLP

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

POUNDBURY CLINIC MANAGEMENT LLP

BALANCE SHEET

As at 31 March 2024
POUNDBURY CLINIC MANAGEMENT LLP

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 2,632 1,829
2,632 1,829
Current assets
Debtors 4 0 27,116
Cash at bank and in hand 5 11 14
11 27,130
Creditors: amounts falling due within one year 6 ( 29,111) ( 33,756)
Net current liabilities (29,100) (6,626)
Total assets less current liabilities (26,468) (4,797)
Accruals and deferred income ( 1,500) ( 2)
Net liabilities attributable to members ( 27,968) ( 4,799)
Represented by
Loans and other debts due to members within one year
Members' capital classified as a liability 104,033 62,581
Other amounts (115,291) (50,670)
(11,258) 11,911
Members' other interests
Members' capital classified as equity (16,710) (16,710)
(16,710) (16,710)
(27,968) (4,799)
Total members' interests
Loans and other debts due to members (11,258) 11,911
Members' other interests (16,710) (16,710)
(27,968) (4,799)

For the financial year ending 31 March 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

Members' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Poundbury Clinic Management LLP (registered number: OC307739) were approved and authorised for issue by the Board of Directors on 28 January 2025. They were signed on its behalf by:

M M Dooley
Designated member
POUNDBURY CLINIC MANAGEMENT LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
POUNDBURY CLINIC MANAGEMENT LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Poundbury Clinic Management LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is The Poundbury Clinic Middlemarsh Street, Poundbury, Dorchester, DT1 3FD, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Change in accounting policies

This is the first year in which the financial statements have been prepared under FRS102 Section 1A. No restatements were required to the prior year as a result of transition to FRS102 Section 1A.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Fixtures and fittings 20 % reducing balance
Office equipment 20 % reducing balance
Other property, plant and equipment 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Members' participation rights

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).

Members’ participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member’s participation rights including amounts subscribed or otherwise contributed by members, for example members’ capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

The profits are not automatically divided as they arise, the LLP therefore has an unconditional right to refuse payment of the profits for a particular year unless and until those profits are divided by a decision taken by the members; and accordingly, following such a division, those profits are classed as an appropriation or equity rather than an expense. They are therefore shown as a residual amount available for appropriation in the Profit and Loss Account.

All amounts due to members that are classified as liabilities are presented in the Statement of Financial Position within 'Loans and other debts due to members' and are charged to the Profit and Loss Account within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the Statement of Financial Position within 'Members' other interests'.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the LLP during the year 3 3

3. Tangible assets

Fixtures and fittings Office equipment Other property, plant
and equipment
Total
£ £ £ £
Cost
At 01 April 2023 6,205 13,790 248 20,243
Additions 0 1,324 0 1,324
At 31 March 2024 6,205 15,114 248 21,567
Accumulated depreciation
At 01 April 2023 6,205 11,961 248 18,414
Charge for the financial year 0 521 0 521
At 31 March 2024 6,205 12,482 248 18,935
Net book value
At 31 March 2024 0 2,632 0 2,632
At 31 March 2023 0 1,829 0 1,829

4. Debtors

2024 2023
£ £
Other debtors 0 27,116

5. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 11 14
Less: Bank overdrafts ( 15,859) ( 11,974)
(15,848) (11,960)

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank overdrafts 15,859 11,974
Trade creditors 12,090 18,430
Other taxation and social security 371 460
Other creditors 791 2,892
29,111 33,756