Company registration number 09709951 (England and Wales)
CHESHIRE GYNAECOLOGIST LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
CHESHIRE GYNAECOLOGIST LIMITED
CONTENTS
Page
Company information
1
Balance sheet
3 - 4
Notes to the financial statements
5 - 9
CHESHIRE GYNAECOLOGIST LIMITED
COMPANY INFORMATION
- 1 -
Directors
Dr Abimbola Williams
Dr Babatunde Olabode Williams
Company number
09709951
Registered office
1 Cloverfield
Lymm
Cheshire
UK
WA13 9WB
Accountants
Hallidays
Riverside House
Kings Reach Business Park
Yew Street
Stockport
Cheshire
SK4 2HD
CHESHIRE GYNAECOLOGIST LIMITED
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 JULY 2024
- 2 -
2024
2023
Notes
£
£
Turnover
293,086
240,022
Cost of sales
(29,895)
(7,139)
Gross profit
263,191
232,883
Administrative expenses
(81,027)
(80,626)
Other operating income
541
100
Operating profit
3
182,705
152,357
Interest receivable and similar income
24,276
7,944
Interest payable and similar expenses
(1,280)
(1,280)
Profit before taxation
205,701
159,021
Tax on profit
(51,976)
(30,775)
Profit for the financial year
153,725
128,246
Retained earnings brought forward
794,270
670,024
Dividends
(2,000)
(4,000)
Retained earnings carried forward
945,995
794,270
CHESHIRE GYNAECOLOGIST LIMITED
BALANCE SHEET
AS AT
31 JULY 2024
31 July 2024
- 3 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
37,923
47,193
Current assets
Debtors
5
124,872
141,303
Cash at bank and in hand
869,980
687,812
994,852
829,115
Creditors: amounts falling due within one year
6
(62,761)
(51,226)
Net current assets
932,091
777,889
Total assets less current liabilities
970,014
825,082
Creditors: amounts falling due after more than one year
7
(16,714)
(21,745)
Provisions for liabilities
(7,205)
(8,967)
Net assets
946,095
794,370
Capital and reserves
Called up share capital
9
100
100
Profit and loss reserves
945,995
794,270
Total equity
946,095
794,370

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

CHESHIRE GYNAECOLOGIST LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 JULY 2024
31 July 2024
- 4 -
The financial statements were approved by the board of directors and authorised for issue on 12 March 2025 and are signed on its behalf by:
Dr Abimbola Williams
Director
Company Registration No. 09709951
CHESHIRE GYNAECOLOGIST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 5 -
1
Accounting policies
Company information

Cheshire Gynaecologist Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1 Cloverfield, Lymm, Cheshire, UK, WA13 9WB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The financial statements have been prepared on a going concern basis.

1.3
Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

 

The company recognises revenue when:

The amount of revenue can be reliably measured;

it is probable that future economic benefits will flow to the entity;

and specific criteria have been met for each of the company's activities.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers
33.3 % Written down value
Motor vehicles
25 % Written down value

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.

1.5
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 current liabilities.

CHESHIRE GYNAECOLOGIST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 6 -
1.6
Financial instruments
Basic financial assets

Basic financial assets, which include 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 unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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. Financial liabilities classified as payable within one year are not amortised.

 

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

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the 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.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

CHESHIRE GYNAECOLOGIST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 7 -
1.9
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
3
3
3
Operating profit
2024
2023
Operating profit for the year is stated after charging:
£
£
Depreciation of owned tangible fixed assets
12,136
15,865
4
Tangible fixed assets
Computers
Motor vehicles
Total
£
£
£
Cost
At 1 August 2023
3,452
94,190
97,642
Additions
2,866
-
0
2,866
At 31 July 2024
6,318
94,190
100,508
Depreciation and impairment
At 1 August 2023
2,580
47,869
50,449
Depreciation charged in the year
556
11,580
12,136
At 31 July 2024
3,136
59,449
62,585
Carrying amount
At 31 July 2024
3,182
34,741
37,923
At 31 July 2023
872
46,321
47,193

Included in the net book value of tangible fixed assets above is £17,293 (2023: £23,057) in respect of assets held under hire purchase contracts. Depreciation for the year on these assets was £5,764 (2023: £7,686).

CHESHIRE GYNAECOLOGIST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 8 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
16,953
29,212
Amounts owed by group undertakings
99,246
102,063
Other debtors
8,673
10,028
124,872
141,303
6
Creditors: amounts falling due within one year
2024
2023
£
£
Taxation and social security
53,738
36,723
Other creditors
9,023
14,503
62,761
51,226
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
16,714
21,745
8
Finance lease obligations
2024
2023
Future minimum lease payments due under finance leases:
£
£
Within one year
5,031
5,031
In two to five years
16,714
21,745
21,745
26,776
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
CHESHIRE GYNAECOLOGIST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 9 -
10
Related party transactions

At the balance sheet date the amount owed from related parties was £99,246 (2023: £102,063). Interest is charged at rate of 2.25% per annum commencing 1st September 2022. The intercompany loan is repayable on demand in accordance with the signed agreement.

 

 

11
Directors' transactions

At the balance sheet date, the amount owed to the director was £1,486 (2023; £7,037). This loan is interest free and repayable on demand.

12
Control

The company is jointly controlled by the directors by virtue of their shareholding.

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