Company No:
Contents
| DIRECTORS | C Brown |
| S K Ford | |
| J A Ford |
| SECRETARY | J A Ford |
| REGISTERED OFFICE | Unit 4 Enterprise Centre |
| Coxbridge Business Park | |
| Alton Road | |
| Farnham | |
| Surrey | |
| GU10 5EH | |
| United Kingdom |
| COMPANY NUMBER | 04068070 (England and Wales) |
| ACCOUNTANT | Shaw Gibbs Limited |
| Wey Court West | |
| Union Road | |
| Farnham | |
| Surrey | |
| GU9 7PT |
| Note | 2024 | 2023 | ||
| £ | £ | |||
| Fixed assets | ||||
| Intangible assets | 4 |
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| Tangible assets | 5 |
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| 72,257 | 85,966 | |||
| Current assets | ||||
| Stocks | 6 |
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| Debtors | 7 |
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| Cash at bank and in hand | 8 |
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| 2,214,022 | 2,469,104 | |||
| Creditors: amounts falling due within one year | 9 | (
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| Net current assets | 1,472,605 | 1,719,568 | ||
| Total assets less current liabilities | 1,544,862 | 1,805,534 | ||
| Provision for liabilities | 10, 11 | (
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| Net assets |
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| Capital and reserves | ||||
| Called-up share capital |
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| Profit and loss account |
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| Total shareholders' funds |
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Directors' responsibilities:
These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of LocaMed Limited (registered number:
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J A Ford
Director |
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.
LocaMed 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 Unit 4 Enterprise Centre, Coxbridge Business Park, Alton Road, Farnham, Surrey, GU10 5EH, 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 £.
Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.
Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
| Computer software |
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| Leasehold improvements |
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| Plant and machinery |
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| Fixtures and fittings |
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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.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.
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.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are recognised at transaction price.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
| 2024 | 2023 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
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| 2024 | 2023 | ||
| £ | £ | ||
| Amounts recognised as distributions to equity holders in the financial year: | |||
| Final dividend for the financial year ended 30 September 2024 of £1,800.00 (2023: £Nil) per ordinary share | 180,000 | 0 | |
| Interim dividend for the financial year ended 30 September 2024 of £1,900.00 (2023: £2,650.01) per ordinary share | 190,000 | 265,001 | |
| 370,000 | 265,001 | ||
The final dividend was voted and approved prior to the year end but not paid. The liability is reflected within accruals.
| Computer software | Total | ||
| £ | £ | ||
| Cost | |||
| At 01 October 2023 |
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| At 30 September 2024 |
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| Accumulated amortisation | |||
| At 01 October 2023 |
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| Charge for the financial year |
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| At 30 September 2024 |
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| Net book value | |||
| At 30 September 2024 |
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| At 30 September 2023 |
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| Leasehold improve- ments |
Plant and machinery | Fixtures and fittings | Total | ||||
| £ | £ | £ | £ | ||||
| Cost | |||||||
| At 01 October 2023 |
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| Additions |
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| Disposals |
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| At 30 September 2024 |
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| Accumulated depreciation | |||||||
| At 01 October 2023 |
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| Charge for the financial year |
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| Disposals |
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| At 30 September 2024 |
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| Net book value | |||||||
| At 30 September 2024 |
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| At 30 September 2023 |
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| 2024 | 2023 | ||
| £ | £ | ||
| Stocks |
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| 2024 | 2023 | ||
| £ | £ | ||
| Trade debtors |
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| Prepayments and accrued income |
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| Other debtors |
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| 2024 | 2023 | ||
| £ | £ | ||
| Cash at bank and in hand |
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| 2024 | 2023 | ||
| £ | £ | ||
| Trade creditors |
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| Accruals |
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| Corporation tax |
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| Other taxation and social security |
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| Other creditors |
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| 2024 | 2023 | ||
| £ | £ | ||
| Deferred tax |
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| 2024 | 2023 | ||
| £ | £ | ||
| At the beginning of financial year | (
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| Credited to the Statement of Income and Retained Earnings |
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| At the end of financial year | (
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The deferred taxation balance is made up as follows:
| 2024 | 2023 | ||
| £ | £ | ||
| Accelerated capital allowances | (
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| Other timing differences |
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Commitments
Total future minimum lease payments under non-cancellable operating leases are as follows:
| 2024 | 2023 | ||
| £ | £ | ||
| within one year |
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| between one and five years |
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