Silverfin false false 31/03/2025 01/04/2024 31/03/2025 Brett Finlayson 07/05/2014 Kerry Maria Jack 07/05/2014 06 October 2025 The principal activity of the Limited Liability Partnership during the financial year continued to be that of a medical practice. SO304909 2025-03-31 SO304909 bus:Director1 2025-03-31 SO304909 bus:Director2 2025-03-31 SO304909 2024-03-31 SO304909 core:CurrentFinancialInstruments 2025-03-31 SO304909 core:CurrentFinancialInstruments 2024-03-31 SO304909 core:OtherPropertyPlantEquipment 2024-03-31 SO304909 core:OtherPropertyPlantEquipment 2025-03-31 SO304909 2024-04-01 2025-03-31 SO304909 bus:FilletedAccounts 2024-04-01 2025-03-31 SO304909 bus:SmallEntities 2024-04-01 2025-03-31 SO304909 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 SO304909 bus:LimitedLiabilityPartnershipLLP 2024-04-01 2025-03-31 SO304909 bus:Director1 2024-04-01 2025-03-31 SO304909 bus:Director2 2024-04-01 2025-03-31 SO304909 core:OtherPropertyPlantEquipment core:TopRangeValue 2024-04-01 2025-03-31 SO304909 2023-04-01 2024-03-31 SO304909 core:OtherPropertyPlantEquipment 2024-04-01 2025-03-31 iso4217:GBP xbrli:pure

Company No: SO304909 (Scotland)

# WOODSIDE MEDICAL PRACTICE LLP

### UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH THE REGISTRAR

WOODSIDE MEDICAL PRACTICE LLP

## UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025

Contents

WOODSIDE MEDICAL PRACTICE LLP

## BALANCE SHEET

AS AT 31 MARCH 2025
WOODSIDE MEDICAL PRACTICE LLP

## BALANCE SHEET (continued)

AS AT 31 MARCH 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 2,278 |  | 2,081
|  | 2,278 |  | 2,081
Current assets |  |  |  |
Debtors | 4 | 62,269 |  | 44,685
Cash at bank and in hand |  | 399,030 |  | 451,521
|  | 461,299 |  | 496,206
Creditors: amounts falling due within one year | 5 | ( 127,626) |  | ( 201,980)
Net current assets |  | 333,673 |  | 294,226
Total assets less current liabilities |  | 335,951 |  | 296,307
Net assets attributable to members |  | 335,951 |  | 296,307
Represented by |  |  |  |
Loans and other debts due to members within one year |  |  |  |
Other amounts |  | 335,951 |  | 296,307
|  | 335,951 |  | 296,307
Members' other interests |  |  |  |
|  | 0 |  | 0
|  | 335,951 |  | 296,307
Total members' interests |  |  |  |
Loans and other debts due to members |  | 335,951 |  | 296,307
|  | 335,951 |  | 296,307

For the financial year ending 31 March 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

Members' responsibilities:

- The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Woodside Medical Practice LLP (registered number: SO304909) were approved and authorised for issue by the Board of Directors on 06 October 2025. They were signed on its behalf by:

Brett Finlayson Designated member |

WOODSIDE MEDICAL PRACTICE LLP

## RECONCILIATION OF MEMBERS' INTERESTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025
WOODSIDE MEDICAL PRACTICE LLP

## RECONCILIATION OF MEMBERS' INTERESTS (continued)

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025

| DEBT Loans and other debts due to members less any amounts due from members in debtors | Total members' interests
--- | --- | ---
| Other amounts | Total
| £ | £
Amounts due to members | 283,275 |
Balance at 01 April 2023 | 283,275 | 283,275
Members' remuneration charged as an expense, including employment and retirement benefit costs | 1,204,884 | 1,204,884
Members' interest after result for the financial year | 1,488,159 | 1,488,159
Drawings | (1,191,852) | (1,191,852)
Amounts due to members | 296,307 |
Balance at 31 March 2024 | 296,307 | 296,307
Members' remuneration charged as an expense, including employment and retirement benefit costs | 1,342,257 | 1,342,257
Members' interest after result for the financial year | 1,638,564 | 1,638,564
Drawings | (1,302,613) | (1,302,613)
Amounts due to members | 335,951 |
Balance at 31 March 2025 | 335,951 | 335,951

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests

WOODSIDE MEDICAL PRACTICE LLP

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025
WOODSIDE MEDICAL PRACTICE LLP

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025

##### 1. Accounting policies

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.

##### General information and basis of accounting

Woodside Medical Practice LLP is a limited liability partnership, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the LLP's registered office is Woodside Fountain Health Centre, Great Northern Road, Aberdeen, AB24 2AS, United Kingdom.
The financial statements have been prepared under the historical cost convention 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 LLPs subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).
The financial statements are presented in pounds sterling which is the functional currency of the LLP and rounded to the nearest £.

##### Going concern

The members have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The members have a reasonable expectation that the LLP has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Turnover

Turnover represents amounts earned during the year from medical activities.
If, at the balance sheet date, completion of contractual obligations is dependent on external factors (and thus outside the control of the Limited Liability Partnership), then revenue is recognised only when the event occurs. In such cases, costs incurred up to the balance sheet date are carried forward as work in progress.

##### Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised as an expense when the LLP is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

##### Taxation

The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.

##### Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. | 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
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.

##### Impairment of assets

Assets are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the LLP reviews its tangible to determine whether there is any indication that those assets have suffered an impairment loss.
If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.
Where it is not possible to estimate the recoverable amount of an individual asset, the LLP estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

##### Financial instruments

Financial assets and financial liabilities are recognised when the LLP 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 LLP 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 LLP 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 are recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
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.

##### Members' participation rights

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).
Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with Section 22 of FRS 102. (IAS 32) Financial Instruments: Disclosure and Presentation and UITF abstract 39 Members' shares in co-operative entities and similar instruments. A members' participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.
Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payments to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.
The members hold no capital balance within the LLP.
The profits are automatically divided as they arise or are determined, so that the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They should therefore be treated as an expense in the profit and loss account in the relevant year and, to the extent they remain unpaid at the year end, they should be shown as liabilities in the balance sheet. This will also be the case where there is a requirement to divide some or all profits but the basis upon which those profits are shared between individual members is not determined until after the balance sheet date, as a liability exists even if the identity of the recipients have not yet been determined.
All amounts due to members that are classified as liabilities are presented in the Balance Sheet within 'Loans and other debts due to members' and are charged to the Profit and Loss Account within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the Balance Sheet within 'Members' other interests'.

##### Pensions

The pension cost charged in the financial statements represents the contributions payable by the partnership during the year.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the LLP during the year | 23 |  | 22

#### 3. Tangible assets

| Plant and machinery etc. |  | Total
| £ |  | £
Cost |  |  |
At 01 April 2024 | 69,895 |  | 69,895
Additions | 997 |  | 997
At 31 March 2025 | 70,892 |  | 70,892
Accumulated depreciation |  |  |
At 01 April 2024 | 67,814 |  | 67,814
Charge for the financial year | 800 |  | 800
At 31 March 2025 | 68,614 |  | 68,614
Net book value |  |  |
At 31 March 2025 | 2,278 |  | 2,278
At 31 March 2024 | 2,081 |  | 2,081

#### 4. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 2,171 |  | 2,298
Other debtors | 60,098 |  | 42,387
| 62,269 |  | 44,685

#### 5. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Trade creditors | 23,067 |  | 18,990
Other creditors | 104,559 |  | 182,990
| 127,626 |  | 201,980