Company registration number 11250872 (England and Wales)
LEEDS GENERAL PRACTICE CONFEDERATION LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
LEEDS GENERAL PRACTICE CONFEDERATION LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 5
LEEDS GENERAL PRACTICE CONFEDERATION LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
3
1,395,077
2,821,938
Cash at bank and in hand
2,173,262
1,579,436
3,568,339
4,401,374
Creditors: amounts falling due within one year
4
(2,974,439)
(4,424,083)
Net current assets/(liabilities)
593,900
(22,709)
Capital and reserves
Called up share capital
989
989
Profit and loss reserves
592,911
(23,698)
Total equity
593,900
(22,709)

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

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 Companies Act 2006 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.

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 24 March 2025 and are signed on its behalf by:
Mr J Barwick
Director
Company registration number 11250872 (England and Wales)
LEEDS GENERAL PRACTICE CONFEDERATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

Leeds General Practice Confederation Limited is a private company limited by shares incorporated in England and Wales. The registered office is Building 3 White Rose Park, Milshaw Park Lane, Leeds, West Yorkshire, LS110DL.

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 company has net liabilities and net current assets of £593,900 (2023 net current liabilities - £22,709). In light of this, the directors have considered how the company will meet the challenges presented by the current economic climate and trading conditions. They have carried out a detailed review of the company's resources including the adequacy of working capital for the next twelve months. The directors are satisfied that the company has sufficient cash flows to meet its liabilities as they fall due for at least one year from the date of approval of these financial statements. Therefore, the financial statements have been prepared on a going concern basis.true

1.3
Turnover

Turnover is recognised at the fair value of the funds received or receivable for goods and services provided in the normal course of business.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

1.4
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 in the company's statement of financial position 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.

LEEDS GENERAL PRACTICE CONFEDERATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies (Continued)
- 3 -
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.

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, 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.

1.5
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.

1.6
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 income statement 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.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

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

2024
2023
Number
Number
Total
173
217
LEEDS GENERAL PRACTICE CONFEDERATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,026,499
2,600,444
Other debtors
368,578
221,494
1,395,077
2,821,938
4
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
359,702
344,955
Amounts owed to group undertakings
43,445
44,348
Corporation tax
206,393
447
Other taxation and social security
40,997
41,485
Other creditors
2,323,902
3,992,848
2,974,439
4,424,083
5
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
389,473
-
0
LEEDS GENERAL PRACTICE CONFEDERATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
6
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Recharges from related parties
Recharges to related parties
2024
2023
2024
2023
£
£
£
£
Entities with control, joint control or significant influence over the company
1,010,455
3,641,346
325,020
599,643
2024
2023
Amounts due to related parties
£
£
Entities with control, joint control or significant influence over the company
44,991
391,605

The following amounts were outstanding at the reporting end date:

2024
2023
Amounts due from related parties
£
£
Entities with control, joint control or significant influence over the company
149,988
46,485
2024-03-312023-04-01false25 March 2025CCH SoftwareCCH Accounts Production 2024.210No description of principal activityDr G BakerMr J BarwickMr B GatenbyMrs J NewmanMr G Winderfalsefalse112508722023-04-012024-03-31112508722024-03-31112508722023-03-3111250872core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-3111250872core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3111250872core:CurrentFinancialInstruments2024-03-3111250872core:CurrentFinancialInstruments2023-03-3111250872core:ShareCapital2024-03-3111250872core:ShareCapital2023-03-3111250872core:RetainedEarningsAccumulatedLosses2024-03-3111250872core:RetainedEarningsAccumulatedLosses2023-03-3111250872bus:Director22023-04-012024-03-31112508722022-04-012023-03-3111250872core:WithinOneYear2024-03-3111250872core:WithinOneYear2023-03-3111250872core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity2024-03-3111250872bus:PrivateLimitedCompanyLtd2023-04-012024-03-3111250872bus:SmallCompaniesRegimeForAccounts2023-04-012024-03-3111250872bus:FRS1022023-04-012024-03-3111250872bus:AuditExemptWithAccountantsReport2023-04-012024-03-3111250872bus:Director12023-04-012024-03-3111250872bus:Director32023-04-012024-03-3111250872bus:Director42023-04-012024-03-3111250872bus:Director52023-04-012024-03-3111250872bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP