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Registered number: 05856700










HOLMHURST SURGERY LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

 
HOLMHURST SURGERY LIMITED
REGISTERED NUMBER:05856700

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
4,771,405
4,660,000

  
4,771,405
4,660,000

Current assets
  

Debtors: amounts falling due within one year
 5 
86,692
42,112

Cash at bank and in hand
  
83,135
78,408

  
169,827
120,520

Creditors: amounts falling due within one year
 6 
(585,295)
(490,173)

Net current liabilities
  
 
 
(415,468)
 
 
(369,653)

Total assets less current liabilities
  
4,355,937
4,290,347

Creditors: amounts falling due after more than one year
 7 
(486,269)
(621,859)

Provisions for liabilities
  

Deferred tax
  
(468,506)
(438,923)

  
 
 
(468,506)
 
 
(438,923)

Net assets
  
3,401,162
3,229,565


Capital and reserves
  

Called up share capital 
  
100
100

Fair value reserve
  
1,973,534
1,973,534

Profit and loss account
  
1,427,528
1,255,931

  
3,401,162
3,229,565


Page 1

 
HOLMHURST SURGERY LIMITED
REGISTERED NUMBER:05856700
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




D Thackeray
Director

Date: 26 April 2025

Page 2

 
HOLMHURST SURGERY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Holmhurst Surgery Limited is a company limited by shares incorporated in England and Wales within the United Kingdom.  The address of the registered office is Unit 15A Main Farm Office, Brogdale Farm, Faversham, Kent, ME13 8XZ.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Company's balance sheet shows significant net current liabilities due to amounts due to fellow group undertakings. The director has confirmed that this balance will not become due for repayment until such time as Holmhurst Surgery Limited has the funds to repay the loan. The Company continues to be profitable during this time.  As such, the director believes it correct to prepare the accounts on going concern basis.

 
2.3

Revenue

Revenue represents amounts receivable for rent and associated fees net of VAT.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
HOLMHURST SURGERY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.8

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
HOLMHURST SURGERY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Investment property


Freehold investment property

£



Valuation


At 1 August 2023
4,660,000


Additions at cost
111,405



At 31 July 2024
4,771,405


Comprising


Cost
4,660,000

Annual revaluation surplus/(deficit):


2024
111,405

At 31 July 2024
4,771,405

The fair value of the investment property as at 31 July 2024 has been assessed by the director.  Valuations have been based off of the rental yields of leases in place at the year end and discount rates.  Professional judgement and expertise of chartered surveyors have been used in assessing fair values.







5.


Debtors

2024
2023
£
£

Trade debtors
23,116
35,303

Other debtors
58,674
-

Prepayments and accrued income
4,902
6,809

86,692
42,112


Page 5

 
HOLMHURST SURGERY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
128,348
121,105

Trade creditors
714
15,827

Amounts owed to group undertakings
337,225
239,367

Other taxation and social security
67,002
59,862

Accruals and deferred income
52,006
54,012

585,295
490,173


Included within bank loans is a mortgage with Aviva Public Private Finance Limited of £128,348 (2023 - £121,105) secured against the investment property.


7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
486,269
621,859

486,269
621,859


Included within bank loans is a mortgage with Aviva Public Private Finance Limited of £486,269 (2023 - £621,859) secured against the investment property.

 
Page 6