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Registration number: OC385820

Portsmouth Anaesthetic Group LLP

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2025

 

Portsmouth Anaesthetic Group LLP

Contents

Limited liability partnership information

1

Accountants' Report

2

Balance Sheet

3 to 4

Statement of Changes in Members’ Interests

5

Notes to the Financial Statements

6 to 8

 

Portsmouth Anaesthetic Group LLP

Limited liability partnership information

Designated members

IR Taylor

AM Sced

S Lobo
 

Members

D Growcott

P Gregory

E Dyson

A Sutherland

BJ Dekker

F Bayshev

P McQuillan

S Radauceanu

MH Jackson

S Bird

AR Edwards

C Patel

NM Jenkins

M Turner

H Singh

B Marshall

V Ragothaman
 

Registered office

Wellesley House 204 London Road
Waterlooville
Hampshire
PO7 7AN

Accountants

MMO Limited
Chartered Accountants
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN

 

Chartered Accountants' Report to the Members on the Preparation of the Unaudited Statutory Accounts of
Portsmouth Anaesthetic Group LLP
for the Year Ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, as applied to limited liability partnerships, we have prepared for your approval the accounts of Portsmouth Anaesthetic Group LLP for the year ended 31 March 2025 set out on pages 3 to 8 from the limited liability partnership's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/en/members/regulations-standards-and-guidance.

This report is made solely to the members of Portsmouth Anaesthetic Group LLP, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Portsmouth Anaesthetic Group LLP and state those matters that we have agreed to state to the members of Portsmouth Anaesthetic Group LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Portsmouth Anaesthetic Group LLP and its members as a body for our work or for this report.

It is your duty to ensure that Portsmouth Anaesthetic Group LLP has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Portsmouth Anaesthetic Group LLP. You consider that Portsmouth Anaesthetic Group LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Portsmouth Anaesthetic Group LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

MMO Limited
Chartered Accountants
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN

11 June 2025

 

Portsmouth Anaesthetic Group LLP

(Registration number: OC385820)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

272

389

Current assets

 

Debtors

5

173,137

79,904

Cash and short-term deposits

 

473,705

469,501

 

646,842

549,405

Creditors: Amounts falling due within one year

6

(7,500)

(18,142)

Net current assets

 

639,342

531,263

Net assets attributable to members

 

639,614

531,652

Represented by:

 

Loans and other debts due to members

 

Members' capital classified as a liability

 

531,651

342,378

Members’ other interest

 

107,963

189,274

 

639,614

531,652

   

639,614

531,652

Total members' interests

 

Loans and other debts due to members

 

639,614

531,652

   

639,614

531,652

For the year ending 31 March 2025 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.

These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime, as applied to limited liability partnerships. As permitted by section 444 (5A) of the Companies Act 2006, the members have not delivered to the registrar a copy of the Profit and Loss Account.

The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.

 

Portsmouth Anaesthetic Group LLP

(Registration number: OC385820)
Balance Sheet as at 31 March 2025

The financial statements of Portsmouth Anaesthetic Group LLP (registered number OC385820) were approved by the Board and authorised for issue on 10 June 2025. They were signed on behalf of the limited liability partnership by:

.........................................
S Lobo
Designated member

   
 

Portsmouth Anaesthetic Group LLP

Statement of Changes in Members’ Interests
At 31 March 2025

 

Loans and other debts due to/(from) members

   

Members' capital classified as a liability
£

Members' other amounts
£

Total debt
£

Total
2025
£

Members' interest at 1 April 2024

342,378

189,274

531,652

531,652

Members' remuneration charged as an expense

-

1,513,903

1,513,903

1,513,903

Members' interests after total comprehensive income

342,378

1,703,177

2,045,555

2,045,555

Drawings (including tax payments)

-

(1,405,941)

(1,405,941)

(1,405,941)

At 31 March 2025

342,378

297,236

639,614

639,614

 

Loans and other debts due to/(from) members

   

Members' capital classified as a liability
£

Members' other amounts
£

Total debt
£

Total
2024
£

Members' interest at 1 April 2023

136,849

205,528

342,377

342,377

Members' remuneration charged as an expense

-

1,230,184

1,230,184

1,230,184

Members' interests after total comprehensive income

136,849

1,435,712

1,572,561

1,572,561

Drawings (including tax payments)

-

(1,040,909)

(1,040,909)

(1,040,909)

At 31 March 2024

136,849

394,803

531,652

531,652

 

Portsmouth Anaesthetic Group LLP

Notes to the Financial Statements for the Year Ended 31 March 2025

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

General information and basis of accounting

The limited liability partnership is incorporated in England under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page.

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional currency of Portsmouth Anaesthetic Group LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates. Foreign operations are included in accordance with the policies set out below.

Revenue recognition

Revenue is recognised to the extent that the limited liability partnership obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

Members' remuneration and division of profits

The SORP recognises that the basis of calculating profits for allocation may differ from the profits reflected through the financial statements prepared in compliance with recommended practice, given the established need to seek to focus profit allocation on ensuring equity between different generations and populations of members.

Consolidation of the results of certain subsidiary undertakings, the provision for annuities to current and former members, pension scheme charges, the spreading of acquisition integration costs and the treatment of long leasehold interests are all items which may generate differences between profits calculated for the purpose of allocation and those reported within the financial statements. Where such differences arise, they have been included within other amounts in the balance sheet.

Members' fixed shares of profits (excluding discretionary fixed share bonuses) and interest earned on members' balances are automatically allocated and, are treated as members' remuneration charged as an expense to the profit and loss account in arriving at profit available for discretionary division among members.
The remainder of profit shares, which have not been allocated until after the balance sheet date, are treated in these financial statements as unallocated at the balance sheet date and included within other reserves.

Tangible fixed assets

Individual fixed assets costing £150.00 or more are initially recorded at cost.

 

Portsmouth Anaesthetic Group LLP

Notes to the Financial Statements for the Year Ended 31 March 2025

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Depreciation method and rate

Office equipment

30% - written down value

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the limited liability partnership will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Members' interests

Amounts due to members after more than one year comprise provisions for annuities to current members and certain loans from members which are not repayable within twelve months of the balance sheet date.

2

Profit for the year before members' remuneration and profit shares

Arrived at after charging/(crediting)

2025
£

2024
£

Depreciation

116

166

3

Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 20 (2024 - 20).

 

Portsmouth Anaesthetic Group LLP

Notes to the Financial Statements for the Year Ended 31 March 2025

4

Tangible fixed assets

Office equipment
 £

Total
£

Cost

At 1 April 2024

2,523

2,523

At 31 March 2025

2,523

2,523

Depreciation

At 1 April 2024

2,134

2,134

Charge for the year

117

117

At 31 March 2025

2,251

2,251

Net book value

At 31 March 2025

272

272

At 31 March 2024

389

389

5

Debtors

2025
£

2024
£

Trade debtors

173,137

79,904

Total current trade and other debtors

173,137

79,904

6

Creditors: Amounts falling due within one year

2025
£

2024
£

Accruals and deferred income

7,500

18,142

7

Control

The members are the controlling party by virtue of their controlling interest in the limited liability partnership. The ultimate controlling party is the same as the controlling party.