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REGISTERED NUMBER: 08147160 (England and Wales)



















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2024

FOR

GPS LOCUMS LTD

GPS LOCUMS LTD (REGISTERED NUMBER: 08147160)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GPS LOCUMS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MAY 2024







DIRECTORS: J P Brown
I Oxley
Mrs P E Jarvis
D S Simpkin



SECRETARY: Mrs P E Jarvis



REGISTERED OFFICE: Amlin House
90-96 Victoria Road
Chelmsford
Essex
CM11QU



REGISTERED NUMBER: 08147160 (England and Wales)



AUDITORS: ESW Limited
Chartered Accountants
& Registered Auditors
162-164 High Street
Rayleigh
Essex
SS6 7BS



BANKERS: HSBC Bank PLC
Coventry DSC
Harry Weston Road
Binley
Coventry
CV3 2TQ

GPS LOCUMS LTD (REGISTERED NUMBER: 08147160)

BALANCE SHEET
31ST MAY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 22,152 26,061

CURRENT ASSETS
Debtors 5 13,825 13,577
Cash at bank and in hand 11,042 11,080
24,867 24,657
CREDITORS
Amounts falling due within one year 6 (136,552 ) (117,776 )
NET CURRENT LIABILITIES (111,685 ) (93,119 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(89,533

)

(67,058

)

PROVISIONS FOR LIABILITIES (4,209 ) (4,952 )
NET LIABILITIES (93,742 ) (72,010 )

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings (93,842 ) (72,110 )
SHAREHOLDERS' FUNDS (93,742 ) (72,010 )

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 4th February 2025 and were signed on its behalf by:





Mrs P E Jarvis - Director


GPS LOCUMS LTD (REGISTERED NUMBER: 08147160)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2024

1. STATUTORY INFORMATION

GPS Locums Ltd 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.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and trade discounts.

Turnover from the rendering of services is recognised in the period in which the service has been completed.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment, fixtures and fittings - 15% on reducing balance

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12
'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors and bank loans, are initially recognised at
transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is
measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.


GPS LOCUMS LTD (REGISTERED NUMBER: 08147160)

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

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st June 2023
and 31st May 2024 60,919
DEPRECIATION
At 1st June 2023 34,858
Charge for year 3,909
At 31st May 2024 38,767
NET BOOK VALUE
At 31st May 2024 22,152
At 31st May 2023 26,061

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings - 145
Other debtors 13,825 13,432
13,825 13,577

GPS LOCUMS LTD (REGISTERED NUMBER: 08147160)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 13,513 11,182
Amounts owed to group undertakings 121,090 98,500
Taxation and social security - 1,444
Other creditors 1,949 6,650
136,552 117,776

7. SECURED DEBTS

Company overdraft facilities are secured by a fixed and floating charge dated 15 June 2020 over the whole of the company's assets, and cross guarantees given by all of the group members.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

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

The Report of the Auditors was unqualified.

Stephen Cracknell FCA (Senior Statutory Auditor)
for and on behalf of ESW Limited

10. CONTINGENT LIABILITIES

The company has given a guarantee against the bank overdraft facilities to other group members.

11. RELATED PARTY DISCLOSURES

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.

12. PARENT COMPANY

The company's immediate and ultimate parent undertaking is GPS Medsol Holdings Limited, a company incorporated in England and Wales which is the smallest and largest group for which consolidated accounts including GPS Locums Limited are prepared. The consolidated accounts of GPS Medsol Holdings Limited are available from its registered office, Amlin House, 90-96 Victoria Road, Chelmsford, CM1 1QU.