COMPANY REGISTRATION NUMBER:
15442401
|
Mid Norfolk Healthcare Limited |
|
|
Unaudited financial statements |
|
|
Mid Norfolk Healthcare Limited |
|
|
Statement of financial position |
|
31 March 2025
Current assets
|
Debtors |
5 |
176,631 |
|
|
Cash at bank and in hand |
56,355 |
|
|
--------- |
|
|
232,986 |
|
|
|
|
|
|
Creditors: Amounts falling due within one year |
6 |
(
254,436) |
|
|
--------- |
|
|
Net current liabilities |
|
(
21,450) |
|
|
------- |
|
Total assets less current liabilities |
|
(
21,450) |
|
|
------- |
|
Net liabilities |
|
(
21,450) |
|
|
------- |
|
|
|
|
Capital and reserves
|
Called up share capital |
8 |
|
6 |
|
Profit and loss account |
|
(
21,456) |
|
|
------- |
|
Shareholders deficit |
|
(
21,450) |
|
|
------- |
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the Period ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
23 October 2025
, and are signed on behalf of the board by:
Company registration number:
15442401
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Mid Norfolk Healthcare Limited |
|
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Notes to the financial statements |
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Period from 25 January 2024 to 31 March 2025
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Bankside 300, Peachman Way, Broadland Business Park, Norwich, Norfolk, NR7 0LB, England. The Company provides Primary Care Network services to the shareholders and this is carried out at the trading addresses of each of the shareholder GP Practices.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of employees during the Period was
30
.
5.
Debtors
|
31 Mar 25 |
|
£ |
|
Trade debtors |
170,002 |
|
Other debtors |
6,629 |
|
--------- |
|
176,631 |
|
--------- |
|
|
6.
Creditors:
Amounts falling due within one year
|
31 Mar 25 |
|
£ |
|
Trade creditors |
87,327 |
|
Other creditors |
167,109 |
|
--------- |
|
254,436 |
|
--------- |
|
|
7.
Employee benefits
The company makes contributions into the NHS Pension Scheme for its employees. The assets of the Scheme are held separately from those of the company in an independently administered fund.
8.
Called up share capital
Issued, called up and fully paid
|
31 Mar 25 |
|
No. |
£ |
|
Ordinary shares of £ 1 each |
6 |
6 |
|
---- |
---- |
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|
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6 ordinary shares of £1 each were issued in the period upon incorporation.
9.
Related party transactions
Mid Norfolk Healthcare Limited
was set up by an unincorporated Primary Care Network. During the period the company has provided services to the unincorporated PCN. At the balance sheet date the company owes the Practice members of the unincorporated PCN £74,239 included within trade creditors.