Caseware UK (AP4) 2024.0.164 2024.0.164 2025-03-312025-03-312024-04-01trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falseGeneral medical practice activities2628truefalse 12010890 2024-04-01 2025-03-31 12010890 2023-04-01 2024-03-31 12010890 2025-03-31 12010890 2024-03-31 12010890 2023-04-01 12010890 c:Director1 2024-04-01 2025-03-31 12010890 d:Buildings d:ShortLeaseholdAssets 2024-04-01 2025-03-31 12010890 d:Buildings d:ShortLeaseholdAssets 2025-03-31 12010890 d:Buildings d:ShortLeaseholdAssets 2024-03-31 12010890 d:PlantMachinery 2024-04-01 2025-03-31 12010890 d:PlantMachinery 2025-03-31 12010890 d:PlantMachinery 2024-03-31 12010890 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 12010890 d:ComputerEquipment 2024-04-01 2025-03-31 12010890 d:ComputerEquipment 2025-03-31 12010890 d:ComputerEquipment 2024-03-31 12010890 d:ComputerEquipment d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 12010890 d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 12010890 d:CurrentFinancialInstruments 2025-03-31 12010890 d:CurrentFinancialInstruments 2024-03-31 12010890 d:CurrentFinancialInstruments d:WithinOneYear 2025-03-31 12010890 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 12010890 d:ShareCapital 2024-04-01 2025-03-31 12010890 d:ShareCapital 2025-03-31 12010890 d:ShareCapital 2023-04-01 2024-03-31 12010890 d:ShareCapital 2024-03-31 12010890 d:ShareCapital 2023-04-01 12010890 d:CapitalRedemptionReserve 2024-04-01 2025-03-31 12010890 d:CapitalRedemptionReserve 2025-03-31 12010890 d:CapitalRedemptionReserve 2023-04-01 2024-03-31 12010890 d:CapitalRedemptionReserve 2024-03-31 12010890 d:CapitalRedemptionReserve 2023-04-01 12010890 d:RetainedEarningsAccumulatedLosses 2024-04-01 2025-03-31 12010890 d:RetainedEarningsAccumulatedLosses 2025-03-31 12010890 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 12010890 d:RetainedEarningsAccumulatedLosses 2024-03-31 12010890 d:RetainedEarningsAccumulatedLosses 2023-04-01 12010890 c:FRS102 2024-04-01 2025-03-31 12010890 c:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 12010890 c:FullAccounts 2024-04-01 2025-03-31 12010890 c:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 12010890 2 2024-04-01 2025-03-31 12010890 d:AcceleratedTaxDepreciationDeferredTax 2025-03-31 12010890 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 12010890 d:OtherDeferredTax 2025-03-31 12010890 d:OtherDeferredTax 2024-03-31 12010890 e:PoundSterling 2024-04-01 2025-03-31 iso4217:GBP xbrli:pure

Registered number: 12010890










THE MEADS MEDICAL PRACTICE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2025

 
THE MEADS MEDICAL PRACTICE LIMITED
REGISTERED NUMBER: 12010890

BALANCE SHEET
AS AT 31 MARCH 2025

2025
2024
Note
£
£

Fixed assets
  

Tangible assets
 5 
4,281
14,340

  
4,281
14,340

Current assets
  

Stocks
  
11,980
12,480

Debtors: amounts falling due within one year
 6 
238,428
177,017

Cash at bank and in hand
  
482,867
315,910

  
733,275
505,407

Creditors: amounts falling due within one year
 7 
(188,529)
(217,777)

Net current assets
  
 
 
544,746
 
 
287,630

Total assets less current liabilities
  
549,027
301,970

Provisions for liabilities
  

Deferred tax
 8 
-
(17,411)

  
 
 
-
 
 
(17,411)

Net assets
  
549,027
284,559


Capital and reserves
  

Called up share capital 
  
6
6

Capital redemption reserve
  
96
96

Profit and loss account
  
548,925
284,457

  
549,027
284,559


Page 1

 
THE MEADS MEDICAL PRACTICE LIMITED
REGISTERED NUMBER: 12010890
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2025

The directors consider 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 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 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 profit and loss account 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: 

G Hissett
Director

Date: 15 July 2025

The notes on pages 5 to 11 form part of these financial statements.

Page 2

 
THE MEADS MEDICAL PRACTICE LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025


Called up share capital
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£

At 1 April 2024
6
96
284,457
284,559


Comprehensive income for the year

Profit for the year

-
-
334,468
334,468


Other comprehensive income for the year
-
-
-
-


Total comprehensive income for the year
-
-
334,468
334,468


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(70,000)
(70,000)


Total transactions with owners
-
-
(70,000)
(70,000)


At 31 March 2025
6
96
548,925
549,027


The notes on pages 5 to 11 form part of these financial statements.

Page 3

 
THE MEADS MEDICAL PRACTICE LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024


Called up share capital
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£

At 1 April 2023
102
-
591,716
591,818


Comprehensive income for the year

Profit for the year

-
-
322,371
322,371


Other comprehensive income for the year
-
-
-
-


Total comprehensive income for the year
-
-
322,371
322,371


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(32,332)
(32,332)

Purchase of own shares
-
96
(597,298)
(597,202)

Shares redeemed during the year
(96)
-
-
(96)


Total transactions with owners
(96)
96
(629,630)
(629,630)


At 31 March 2024
6
96
284,457
284,559


The notes on pages 5 to 11 form part of these financial statements.

Page 4

 
THE MEADS MEDICAL PRACTICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1.


General information

The Meads Medical Practice Limited is a private company, limited by shares, incorporated in England and Wales in the United Kingdom. The address of the registered office is Victoria Court, 17 - 21 Ashford Road, Maidstone, Kent, ME14 5DA.
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 (see note 3).

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Interest income

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

Page 5

 
THE MEADS MEDICAL PRACTICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
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.

 
2.7

Pensions

The scheme is an unfunded, defined benefit scheme that covers NHS employer, general practices and other bodies, allowed under the direction of the Secretary of State for Health, England & Wales. The scheme is not designed to be run in a way that would enable employing bodies to identify their share of the underlying scheme assets and liabilities. Therefore, the scheme is accounted for as if it were a defined contribution scheme. The cost to the employer of participating in the scheme is taken as equal to the contributions payable to the scheme for the accounting
Those contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet.




Page 6

 
THE MEADS MEDICAL PRACTICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.8

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.


 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 7

 
THE MEADS MEDICAL PRACTICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the methods below.

Depreciation is provided on the following basis:

Short-term leasehold improvements
-
15%
straight-line method
Plant and machinery
-
15%
straight-line method
Computer equipment
-
33%
straight-line method

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Following a review of the useful life of all asset, adjustments have been made to depreciation in the current year to reflect the relevant net book value and have been charged to the Profit and Loss account.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

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.

 
2.12

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.

 
2.13

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 8

 
THE MEADS MEDICAL PRACTICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.15

Dividends

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.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

No significant judgements have been made by management in preparing these financial statements.


4.


Employees

The average monthly number of employees, including directors, during the year was 26 (2024 - 28).

Page 9

 
THE MEADS MEDICAL PRACTICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

5.


Tangible fixed assets





Short-term leasehold improvements
Plant and machinery
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2024
86,088
54,401
6,054
146,543


Additions
-
-
344
344



At 31 March 2025

86,088
54,401
6,398
146,887



Depreciation


At 1 April 2024
77,479
48,670
6,054
132,203


Charge for the year on owned assets
8,609
1,684
110
10,403



At 31 March 2025

86,088
50,354
6,164
142,606



Net book value



At 31 March 2025
-
4,047
234
4,281



At 31 March 2024
8,609
5,731
-
14,340


6.


Debtors

2025
2024
£
£


Trade debtors
214,429
165,650

Other debtors
16,021
6,829

Prepayments and accrued income
4,550
4,538

Deferred taxation
3,428
-

238,428
177,017


Page 10

 
THE MEADS MEDICAL PRACTICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

7.


Creditors: Amounts falling due within one year

2025
2024
£
£

Bank loans
-
43,697

Other loans
-
16,000

Trade creditors
26,105
5,665

Corporation tax
111,062
112,905

Other taxation and social security
36,043
23,983

Other creditors
8,780
9,005

Accruals and deferred income
6,539
6,522

188,529
217,777



8.


Deferred taxation




2025


£






At beginning of year
(17,411)


Charged to profit or loss
20,839



At end of year
3,428

The deferred taxation balance is made up as follows:

2025
2024
£
£


Accelerated capital allowances
(17,411)
(17,078)

Short-term timing differences
20,839
(333)

3,428
(17,411)


9.


Related party transactions

During the year, £24,918 (2024: £23,364) was paid to Hissett Medical Ltd for the supply services and were at commerical rates.

 
Page 11