Company registration number 08756451 (England and Wales)
NORTHERN HEALTH SCIENCE ALLIANCE LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
NORTHERN HEALTH SCIENCE ALLIANCE LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
NORTHERN HEALTH SCIENCE ALLIANCE LTD
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
3
386,058
388,471
Cash at bank and in hand
862,081
1,024,568
1,248,139
1,413,039
Creditors: amounts falling due within one year
4
(539,583)
(422,327)
Net current assets
708,556
990,712
Reserves
Income and expenditure account
708,556
990,712
Members' funds
708,556
990,712
The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true
For the financial year ended 30 September 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.
The financial statements were approved by the board of directors and authorised for issue on 5 May 2025 and are signed on its behalf by:
H Davies
Director
Company registration number 08756451 (England and Wales)
NORTHERN HEALTH SCIENCE ALLIANCE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 2 -
1
Accounting policies
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
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.true
1.3
Turnover
Turnover represents membership fees charged to a number of institutions. The directors consider all turnover to derive from the United Kingdom and from a single class of business.
Membership fees 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 recognised in the accounts in the period that they relate to.
1.4
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.
1.5
Taxation
The company is exempt from corporation tax on its grant and members' subscriptions,
as the company deems that it is not carrying on a business for the purposes of making a profit.
1.6
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.8
Government grants
Grants are recognised based on the accrual model. Grants are recognised in income over the period in which the related costs are recognised. Where amounts are received in advance, these are recorded as deferred income. The grants are provided by the UK government on the basis that they will be allocated to organisations for the purpose of medical research.
NORTHERN HEALTH SCIENCE ALLIANCE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.9
Company information
Northern Health Science Alliance Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is Hardman Square, No 1 Spinningfields, Manchester, M3 3EB.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
16
16
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
379,311
297,532
Other debtors
6,747
90,939
386,058
388,471
4
Creditors: amounts falling due within one year
2024
2023
£
£
Taxation and social security
94,794
80,338
Other creditors
444,789
341,989
539,583
422,327
There is a fixed and floating charge on the Company's assets.
5
Members' liability
The company is limited by guarantee and has no share capital. Consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.