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Company No: 11500786 (England and Wales)

NORFOLK GYNAECOLOGY SERVICES LIMITED

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

NORFOLK GYNAECOLOGY SERVICES LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2024

Contents

NORFOLK GYNAECOLOGY SERVICES LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 August 2024
NORFOLK GYNAECOLOGY SERVICES LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 August 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,736 1,890
1,736 1,890
Current assets
Debtors 4 31,642 38,606
Cash at bank and in hand 5 626,599 481,620
658,241 520,226
Creditors: amounts falling due within one year 6 ( 51,577) ( 48,594)
Net current assets 606,664 471,632
Total assets less current liabilities 608,400 473,522
Net assets 608,400 473,522
Capital and reserves
Called-up share capital 300 300
Profit and loss account 608,100 473,222
Total shareholders' funds 608,400 473,522

For the financial year ending 31 August 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Norfolk Gynaecology Services Limited (registered number: 11500786) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

Neeraja Kuruba
Director
Sambit Mukhopadhyay
Director

25 March 2025

NORFOLK GYNAECOLOGY SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
NORFOLK GYNAECOLOGY SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 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

Norfolk Gynaecology Services Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Spire Hospital Norwich, Old Watton Road, Norwich, NR4 7TD, 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 Companies Act 2006 as applicable to companies subject to the small companies regime.

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

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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 Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position 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.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. 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:

Computer equipment 4 years straight line

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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Tangible assets

Computer equipment Total
£ £
Cost
At 01 September 2023 4,445 4,445
Additions 999 999
At 31 August 2024 5,444 5,444
Accumulated depreciation
At 01 September 2023 2,555 2,555
Charge for the financial year 1,153 1,153
At 31 August 2024 3,708 3,708
Net book value
At 31 August 2024 1,736 1,736
At 31 August 2023 1,890 1,890

4. Debtors

2024 2023
£ £
Trade debtors 16,312 22,409
Prepayments 15,330 16,197
31,642 38,606

5. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 626,599 481,620

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 3,121 3,141
Amounts owed to directors ( 101) 700
Accruals 2,676 2,544
Taxation and social security 45,881 42,209
51,577 48,594