FOR THE YEAR ENDED 31 MARCH 2025
BRISDOC HEALTHCARE SERVICES LIMITED
COMPANY INFORMATION
BRISDOC HEALTHCARE SERVICES LIMITED
CONTENTS
BRISDOC HEALTHCARE SERVICES LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The Directors present their Strategic Report on BrisDoc Healthcare Services Ltd for the year to 31 March 2025.
Our Business Model
BrisDoc provides primary healthcare services to the NHS. Our focus is on Urgent Care Services and Practice Services operating within the Integrated Care System for Bristol, North Somerset and South Gloucestershire, serving a population of 1.06 million people. We primarily utilise a local workforce with excellent knowledge of patient needs and the local health economy.
Our focus is on providing high quality services which are safe, resilient and reliable and provide “value for money” for the NHS. We aim to achieve a surplus each year to fund continued trading without reliance on external financial support or investment and to develop ongoing healthcare services. Our engaged and committed workforce utilise a service delivery model which offers economies of scale and integration on a 24/7 basis.
Our strategy
BrisDoc is an Employee Owned Social Enterprise. The primary purpose of BrisDoc is to provide healthcare services for the benefit of the community within which it operates and other trading activities which will benefit its social and environmental purposes.
We have developed our business based on working solely for the NHS to provide primary healthcare services on a 24/7 basis. We operate two service divisions, Urgent Care and Practice Services, with a common Business Support function.
Our mission is “patient care by people who care” and this is supported by a five-way business model providing a clear focus and values at all levels in our organisation covering Our Patients; Our People; Our Services; Our Resources; and Our Social Impact.
BrisDoc has an experienced leadership team with excellent knowledge of the NHS and primary care services combined with commercial, technical and financial skills and an entrepreneurial appetite. We have a strong patient-focus across all our activities, combined with a willingness to work collaboratively within the NHS Integrated Care System and to build trust and a positive reputation with all stakeholders.
BrisDoc is positioned as an NHS Business Partner, enabling us to operate within the NHS infrastructure, providing services free at the point of contact for patients and accessing NHS Pension for our workforce to align to other NHS service providers.
Performance
Turnover in the year to 31 March 2025 totalled £29.4m and the company's overall trading results over the past five years have been as follows:
Operating within the NHS environment continues to be challenging, with high patient demand.
Our Urgent Care Services
This year was the sixth year of a “seven year plus three year” contract to provide an NHS Integrated Urgent Care Service. This includes delivery of NHS111 (which we have sub-contracted), a Clinical Assessment Service
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BRISDOC HEALTHCARE SERVICES LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
(CAS) (telephone based) and face to face services through clinics and home visiting. In particular, during the second half of the financial year we were pleased to develop our Mental Health Integrated Access Partnership into its next phase, with the launch of the NHS 111 “Select Mental Health” option, seeing our Mental Health CAS become a 24/7 service, increasing access for those with a mental health crisis to support and services without the need to go through a physical health pathways assessment.
Our Practice Services
We continue to operate three practices, Homeless Health, Broadmead Medical Centre and Charlotte Keel Medical Practice, for a combined total of 32,000 registered patients. While the Homeless Health Service is due for re-procurement later in 2025 or 2026, we were pleased to have successfully bid in 2024 for the long-term award of Charlotte Keel, securing the practice’s future with BrisDoc until 2040.
All services have performed well in challenging circumstances. The Care Quality Commission has rated our services as “good” with outstanding features for our two GP practices and “outstanding” for our Homeless Health Service.
Award-winning
We were also pleased to have received a Health Services Journal Award in November 2024 – being “Highly Commended” in the Primary and Community Care Provider of the Year 2024 – recognising the quality and impact of our work, particularly with respect to the following services: System CAS, Frailty-ACE, Mental Health Integrated Access Partnership, Homeless Health Buvidal Pilot.
We were also pleased to have received a Health Services Journal Award in November 2024 – being “Highly Commended” in the Primary and Community Care Provider of the Year 2024 – recognising the quality and impact of our work, particularly with respect to the following services: System CAS, Frailty-ACE, Mental Health Integrated Access Partnership, Homeless Health Buvidal Pilot.
Workforce
BrisDoc is committed to ensuring equality and fairness for all in our employment and care; not to discriminate on grounds of gender, marital status, race, ethnic origin, color, nationality, national origin, disability, sexual orientation, religion or age. We oppose all forms of unlawful and unfair discrimination and are committed to ensuring that everyone has the opportunity to reach their full potential and access to necessary healthcare.
BrisDoc is owned by an Employee Trust for the benefit of all employees and staff are actively encouraged to express their views and be involved with the progress and development of our business. We involve staff in specific Boards established to promote Equity, Equality, Diversity and Inclusion, and Health and Wellbeing, and provide regular communication to all employees, including e-newsletters; intranet; and regular Roadshows to communicate with colleagues. We focus on:
• Pursuing our mission of patient care by people who care
• Adherence to core values focused on Patients, People, Resources, Service and Social Impact
• Supporting the community in which we work through a dedicated Community Fund
• Supporting our environment by achieving green standards and carbon neutral status by 2030
• Staff suggestions and innovation to advance and improve our business
Staff are eligible for Sharing Success, which is an annual bonus scheme based on the overall successful performance of BrisDoc and an Employee Bonus Scheme as a provision of the Employee Ownership Trust.
BrisDoc is committed to ensuring equality and fairness for all in our employment and care; not to discriminate on grounds of gender, marital status, race, ethnic origin, color, nationality, national origin, disability, sexual orientation, religion or age. We oppose all forms of unlawful and unfair discrimination and are committed to ensuring that everyone has the opportunity to reach their full potential and access to necessary healthcare.
BrisDoc is owned by an Employee Trust for the benefit of all employees and staff are actively encouraged to express their views and be involved with the progress and development of our business. We involve staff in specific Boards established to promote Equity, Equality, Diversity and Inclusion, and Health and Wellbeing, and provide regular communication to all employees, including e-newsletters; intranet; and regular Roadshows to communicate with colleagues. We focus on:
• Pursuing our mission of patient care by people who care
• Adherence to core values focused on Patients, People, Resources, Service and Social Impact
• Supporting the community in which we work through a dedicated Community Fund
• Supporting our environment by achieving green standards and carbon neutral status by 2030
• Staff suggestions and innovation to advance and improve our business
Staff are eligible for Sharing Success, which is an annual bonus scheme based on the overall successful performance of BrisDoc and an Employee Bonus Scheme as a provision of the Employee Ownership Trust.
BrisDoc is accredited as a Living Wage Employer; Mindful Employer; Disability Confident; and registered with the West of England Good Employment Charter. BrisDoc offers a balance of full time, part time and casual worker opportunities with fair pay across all roles. We have successfully managed Gender Pay to eliminate any gap and have maintained this with minimal difference for a number of years.
We have an established “Community Fund” to invest in community work through partnership with established charities and our workforce voluntary involvement. Our Community Fund Board (led by employees) leads this initiative and has built working partnerships both locally and overseas. The schemes supported offer “health and wellbeing related and environmental” benefits to the community and provide opportunities for staff to volunteer time and be encouraged to support wider fundraising.
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BRISDOC HEALTHCARE SERVICES LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
BrisDoc is also committed to being environmentally friendly and has developed an environmental management system to comply with ISO14001 standards. This fits well with our focus on “resource care” and to ensuring our service activities are conducted efficiently and in an environmentally friendly way.
The Directors constantly monitor the risks and uncertainties facing BrisDoc and are confident policies and procedures are in place to protect against known eventualities and there are no material risks and uncertainties which have not been considered.
Operating within the NHS market, there are a number of key risks which include:
• Financial Risk
BrisDoc continues to operate in a challenging financial environment. As part of the NHS Long Term Strategy, substantial efficiency savings are required and Commissioners need to achieve significant savings at all levels of contracting. With a new government coming into power in 2024, while it is clear that transforming the NHS will be a major priority, we also know that impact and cost-effectiveness will be key drivers for the award of new service contracts. In the light of the new NHS 10-year Plan, published in July 2025, we also plan to engage in the opportunities that are presented in order to support the “left shift” towards prevention, digitisation and communities that we all want to see, all of which will bring both opportunities and risks.
As in previous years, we continued to challenge HMRC’s long-standing 10-year claim against us regarding the employment status of self-employed doctors. The sector norm is for GPs to legitimately work as independent professionals and BrisDoc engages with doctors on this basis. However, governance arrangements have necessarily improved to provide assurance on the clinical quality of service and HMRC consider this may have led to a change in status. We were therefore relieved in March 2025 when HMRC decided to withdraw its claim, stating that it was unable to conclude that our self-employed doctors were in fact employed. We have therefore released the provisions we previously made in our accounts regarding potential professional fees and related costs.
Irrespective of this development we had already, with the support of the Integrated Care Board (our Commissioner), taken steps to reduce our reliance on the self-employed market. With the news of the HMRC claim withdrawal, we are now reviewing what should be an appropriate balance between our self-employed and employed workforces.
Living costs have continued to remain a pressure for our workforce and, as in previous years, we have committed to supporting staff where possible, and during the financial year we applied two pay awards, one of a 3% increase and the other an addition of £1 to all employees’ hourly salary rate (the latter as a means of reducing the differentials between lower and higher paid colleagues). We have also met our commitment to increase pay in line with the Real Living Wage. These increases have been funded within our existing contracts which received an increase of 3% (2024: 3%).
• Resource Risk
While previous years have seen shortages of clinical resource to meet demand, over the last year we have seen a shift in the employment market so that we have found it easier to fill clinical and operational rotas than before.
During the year we were sad to say goodbye to our founding Managing Director, Nigel Gazzard, after a successful 20 years, and are grateful for everything he’s done to build BrisDoc into the organisation it is today. We were able to facilitate a smooth, overlapping transition to our new CEO, Jonathan Pearce, during August and September 2024.
• Financial Risk
BrisDoc continues to operate in a challenging financial environment. As part of the NHS Long Term Strategy, substantial efficiency savings are required and Commissioners need to achieve significant savings at all levels of contracting. With a new government coming into power in 2024, while it is clear that transforming the NHS will be a major priority, we also know that impact and cost-effectiveness will be key drivers for the award of new service contracts. In the light of the new NHS 10-year Plan, published in July 2025, we also plan to engage in the opportunities that are presented in order to support the “left shift” towards prevention, digitisation and communities that we all want to see, all of which will bring both opportunities and risks.
As in previous years, we continued to challenge HMRC’s long-standing 10-year claim against us regarding the employment status of self-employed doctors. The sector norm is for GPs to legitimately work as independent professionals and BrisDoc engages with doctors on this basis. However, governance arrangements have necessarily improved to provide assurance on the clinical quality of service and HMRC consider this may have led to a change in status. We were therefore relieved in March 2025 when HMRC decided to withdraw its claim, stating that it was unable to conclude that our self-employed doctors were in fact employed. We have therefore released the provisions we previously made in our accounts regarding potential professional fees and related costs.
Irrespective of this development we had already, with the support of the Integrated Care Board (our Commissioner), taken steps to reduce our reliance on the self-employed market. With the news of the HMRC claim withdrawal, we are now reviewing what should be an appropriate balance between our self-employed and employed workforces.
Living costs have continued to remain a pressure for our workforce and, as in previous years, we have committed to supporting staff where possible, and during the financial year we applied two pay awards, one of a 3% increase and the other an addition of £1 to all employees’ hourly salary rate (the latter as a means of reducing the differentials between lower and higher paid colleagues). We have also met our commitment to increase pay in line with the Real Living Wage. These increases have been funded within our existing contracts which received an increase of 3% (2024: 3%).
• Resource Risk
While previous years have seen shortages of clinical resource to meet demand, over the last year we have seen a shift in the employment market so that we have found it easier to fill clinical and operational rotas than before.
During the year we were sad to say goodbye to our founding Managing Director, Nigel Gazzard, after a successful 20 years, and are grateful for everything he’s done to build BrisDoc into the organisation it is today. We were able to facilitate a smooth, overlapping transition to our new CEO, Jonathan Pearce, during August and September 2024.
With regard to our facilities, we plan to expand our operational footprint at Osprey Court to accommodate additional services and are exploring new premises options for Broadmead in view of the anticipated redevelopment of the City Centre.
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BRISDOC HEALTHCARE SERVICES LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
∙Contract risk
BrisDoc successfully agreed a new contract commencing 1 April 2019 for Integrated Urgent Care. This contract is for seven plus three years and provides a firm foundation for future trading. Delivery of the service is dependent on a sub-contract for NHS111 and this represents approximately 30% of the value. In June 2024, we confirmed a contract variation that exercises the three-year extension, such that this contract will now run to March 2029.
A service contract for Broadmead Medical Centre was awarded from October 2016 for a period of 15 years, plus the option to extend by a further 10 years.
The Homeless Healthcare Service contract is for five years from October 2016 with an option to extend by a further five-year period which has been agreed, through to September 2026.
Charlotte Keel Medical Practice is held on a 15-year contract through to June 2040.
∙Liquidity risk
BrisDoc ensures sufficient liquidity is available to meet foreseeable needs. This is provided by retained reserves and BrisDoc has not required any borrowing although current bankers have confirmed a willingness to support, if required. Cashflow is also enhanced by the contract terms agreed with the NHS (covering all services) which require payment during the “current month” such that funds will be available ahead of all major outgoings. This creates a positive cashflow which generally works well. On occasions, when income is delayed, the reserves retained provide a comfortable buffer.
The Directors monitor this position to ensure sufficient working capital is available.
∙Key financial performance indicators
BrisDoc has set a strategic target to achieve an annual net surplus of at least 3% of annual income.
To achieve this, existing services have been financially modelled to achieve a 10% contribution to central overheads after direct costs are taken into account. However, as we grow and develop, we are reviewing our financial models in order to ensure long-term sustainability. The current margin contribution covers all support service costs (overheads), community investment and is targeted to support additional payments to staff through Sharing Success, Employee Owners Bonus.
Individual service budgets are monitored to ensure all direct costs are covered and the 10% contribution delivered.
Income levels are tracked to ensure these are in line with contractual arrangements:
∙Urgent Care Services — during the year income is based on a fixed price included in the contract. We seek new service opportunities to enhance the care we offer and to provide new income streams to supplement our core income.
∙Practice Services — core income is based on an NHS set price per registered patient and we track the level of patients with the aim of achieving growth at both Charlotte Keel and at Broadmead (5% plus per annum). This core payment provides 60% of practice income.
Cost performance indicators are budgeted to fall within the following parameters (excluding sub-contracted services):
∙Salaried employees – 54% of total costs (2024: 60%)
∙Independent GP services (included sub-contracted costs) – 33% (2024: 15%)
∙Non-pay costs (excluding subcontracted costs) – 13% (2024: 15%)
These indicators are used to compare with annual budgets and to monitor trends in actual performance and
achievement.
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BRISDOC HEALTHCARE SERVICES LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
With regard to workforce, we have set a key performance target of up to 4% of hours lost due to absence.
∙Key operational performance indicators
BrisDoc continues to monitor performance in line with our five key values.
With 85% of costs related to workforce, we set an annual forecast for resourcing requirements and then track monthly the deployment of staff against this plan. This includes a patient demand forecast (seasonally adjusted) and assumes for our primary Integrated Urgent Care contract a target of 100% rota-fill and an average of 1.7 patients served per clinical operational hour.
During this financial year, our main contract did not include a “volume” payment element. However, we have tracked activity against an agreed volume maximum of 330,000 patient contacts for our Integrated Urgent Care contract. In the future, we anticipate the potential to negotiate a volume variation within the service contracts agreed and, therefore, we are monitoring these levels closely.
Other services are not subject to a similar measure for income purposes.
We know the quality of the service we provide has a direct influence over current and future business potential. In discussion with Commissioners a wide variety of Key Performance Indicators are in place and these are tracked weekly and monthly. These indicators are also subject to an independent review by the Care Quality Commission (across five key indicators) and we have set the objective of achieving a minimum rating of Good for all services we provide.
This is BrisDoc's 19th year of trading and we have continued to prove our capability to deliver a robust performance in challenging circumstances. Our workforce and leadership team has continued to grow and develop and through our investment in people, capability and resources we have built a strong platform to continue to develop our service offering.
BrisDoc has grown in recent years and developed a positive reputation both locally and nationally for delivering high quality services with an innovative and collaborative approach. We are well placed to embrace the NHS Strategy for Integrated Care Systems and Provider Collaboration and the opportunities presented by the new NHS 10-year plan.
The Directors have assessed the Company’s ability to continue as a going concern and have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis of accounting in preparing the financial statements.
The Company had £7.9 million in cash and cash equivalents as at 31 March 2025. Furthermore, a cashflow forecast for the 12 months to 31 May 2026 has been prepared which confirms continuing positive liquidity for the business, and the financial budget for the year to 31 March 2026 forecasts a trading surplus.
A risk register is in place and is regularly updated and reviewed by the Directors, and, with the withdrawal in March 2025 HMRC’s employment status claim against the Company, all other financial risks are considered to be manageable.
The Directors have not identified any material uncertainties that may cast significant doubt on the Company’s ability to continue as a going concern. As a consequence, the Directors are confident with the going concern status of BrisDoc Healthcare Services Limited for a minimum of the next 12 months.
RESERVES POLICY
The Directors have agreed a reserves policy that aims to maintain financial reserves of £6m (equivalent to approximately 2.5 months’ annual organisational expenditure), in order to meet any workforce, estates or contractual liabilities in the event of a downturn in trading or the loss of key service contracts. As at 31 March
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BRISDOC HEALTHCARE SERVICES LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
2025 reserves levels stood at approximately £4m (2024: £3.2m), which figure is below our target reserves level, however, the Directors have planned for the policy target to be achieved over the course of the next four years.
This report was approved by the board and signed on its behalf.
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BRISDOC HEALTHCARE SERVICES LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The Directors present their report and the financial statements for the year ended 31 March 2025.
The Directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the Directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the year, after taxation, amounted to £667,765 (2024: £608,232).
Dividends of £Nil (2024: £Nil) were paid during the year. Contributions amounting to £Nil (2024: £Nil) were paid to the Employee Ownership Trust.
The Directors who served during the year were:
Details of all future developments are contained within the Strategic Report.
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BRISDOC HEALTHCARE SERVICES LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
BrisDoc greatly values the right of every staff member to be fairly treated and to receive equal opportunity. We are committed that every individual staff member is treated with the dignity, respect and consideration they deserve and are protected from unlawful discrimination.
We are committed to ensuring that every staff member has the opportunity to reach their full potential and to ensure equality and fairness for all in our employment. We do not discriminate on the grounds of any Protected Characteristic: age, disability, gender reassignment, marriage or civil partnership, maternity or pregnancy, race, religion or belief, sex and sexual orientation. We oppose all forms of discrimination and this includes ensuring all applications for employment made by disabled persons are given full and equal consideration, as well as offering equal consideration for training and career development.
We involve staff in specific Boards established to promote Equality and Diversity and Health and Wellbeing and provide regular communication to all employees, including e-newsletters; intranet; an Annual Report covering all services and performance; and Company-wide roadshow events involving senior leaders and Directors. We conduct an annual staff survey to gather feedback from all staff and then actively involve staff in identifying actions and agreeing improvement plans.
BrisDoc is workforce owned and all staff have the opportunity to be shareholders in the organisation and attend our Annual General Meeting. We offer a “Sharing Success” scheme which enables staff to participate in the financial performance of BrisDoc through an annual bonus. We have adopted the principles of the Living Wage Foundation to work within the minimum and maximum wage requirements evaluated by the Foundation.
We are committed to ensuring that every staff member has the opportunity to reach their full potential and to ensure equality and fairness for all in our employment. We do not discriminate on the grounds of any Protected Characteristic: age, disability, gender reassignment, marriage or civil partnership, maternity or pregnancy, race, religion or belief, sex and sexual orientation. We oppose all forms of discrimination and this includes ensuring all applications for employment made by disabled persons are given full and equal consideration, as well as offering equal consideration for training and career development.
We involve staff in specific Boards established to promote Equality and Diversity and Health and Wellbeing and provide regular communication to all employees, including e-newsletters; intranet; an Annual Report covering all services and performance; and Company-wide roadshow events involving senior leaders and Directors. We conduct an annual staff survey to gather feedback from all staff and then actively involve staff in identifying actions and agreeing improvement plans.
BrisDoc is workforce owned and all staff have the opportunity to be shareholders in the organisation and attend our Annual General Meeting. We offer a “Sharing Success” scheme which enables staff to participate in the financial performance of BrisDoc through an annual bonus. We have adopted the principles of the Living Wage Foundation to work within the minimum and maximum wage requirements evaluated by the Foundation.
There have been no significant events affecting the Company since the year end.
The auditors, Bishop Fleming LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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BRISDOC HEALTHCARE SERVICES LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BRISDOC HEALTHCARE SERVICES LIMITED
We have audited the financial statements of Brisdoc Healthcare Services Limited (the 'Company') for the year ended 31 March 2025, which comprise the Statement of comprehensive income, the Statement of financial position, the Statement of cash flows, the Statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the Directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The Directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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BRISDOC HEALTHCARE SERVICES LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BRISDOC HEALTHCARE SERVICES LIMITED (CONTINUED)
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report.
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BRISDOC HEALTHCARE SERVICES LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BRISDOC HEALTHCARE SERVICES LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, we have considered the following:
∙The nature of the industry and sector, control environment and business performance;
∙Results of our enquiries of management and directors in relation to their own identification and assessment of the risks of irregularity within the Company; and
∙any matters we identified having obtained and reviewed the Company's documentation of their policies and procedures relating to identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance, detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; the internal controls established to mitigate risks of fraud or noncompliance with laws and regulations.
As a result of these procedures, we have considered the opportunities and incentives that may exist within the organisation for fraud and identified the areas of high risk to be in relation to revenue recognition. In common with all audits under ISAs (UK) we are also required to perform specific procedures to respond to the risk of management override.
We have also obtained an understanding of the legal and regulatory frameworks that the company operates in, focussing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures within the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, Financial Reporting Standard 102 and UK tax legislation. In addition we considered provision of other laws and regulations that do not have a direct effect on the financial statements but compliance with may be fundamental for the Company's ability to operate or avoid a material penalty. These included: compliance with the Health and Social Care legislation as regulated by the Care Quality Commission (CQC); health and safety regulations; employment legislation; and data protection laws.
Our audit procedures performed to respond to the risks identified included, but were not limited to:
∙Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulation and fraud;
∙Reviewing correspondence with the CQC including the latest inspection reports;
∙Review internal monitoring reports;
∙Review of serious incident and complaints registers;
∙Reviewing board minutes;
∙Identifying and testing journal entries, evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud; and
∙Challenging assumptions and judgements made by management in their significant accounting estimates.
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from an error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations, or through collusion. There are inherent limitations in the audit procedures performed and
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BRISDOC HEALTHCARE SERVICES LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BRISDOC HEALTHCARE SERVICES LIMITED (CONTINUED)
the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants
Statutory Auditors
10 Temple Back
BS1 6FL
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BRISDOC HEALTHCARE SERVICES LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2025
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BRISDOC HEALTHCARE SERVICES LIMITED
REGISTERED NUMBER:05526203
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 17 to 29 form part of these financial statements.
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BRISDOC HEALTHCARE SERVICES LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
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BRISDOC HEALTHCARE SERVICES LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025
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BRISDOC HEALTHCARE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
BrisDoc Healthcare Services Limited is a limited liability company incorporated in England and Wales. The principal office is Unit 21, Osprey Court, Hawkfield Business Park, Bristol, BS14 0BB.
2.ACCOUNTING POLICIES
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
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:
The directors consider the business to have sufficient resources to continue to trade for a period of at least 12 months.
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BRISDOC HEALTHCARE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.ACCOUNTING POLICIES (CONTINUED)
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BRISDOC HEALTHCARE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.ACCOUNTING POLICIES (CONTINUED)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
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.
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BRISDOC HEALTHCARE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.ACCOUNTING POLICIES (CONTINUED)
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Other financial assets
Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.
Impairment of financial assets
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference
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BRISDOC HEALTHCARE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.ACCOUNTING POLICIES (CONTINUED)
between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
Basic financial liabilities
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 the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
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BRISDOC HEALTHCARE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Costs have been estimated for staff bonuses and future charitable donations. These accrued amounts represent the best estimate of the liability at the time as at the balance sheet date. The actual liability for staff bonuses is dependent on future events such as staff salaries and those employees present at the time of the bonus being paid. The actual liability for charitable donations is dependent on the availability of projects that the company can contribute towards. Expectations are reviewed until the actual liability arises, with any differences accounting for in the period in which the revision is made.
Deferred tax
As described in note 2.7 to the financial statements, a deferred tax asset is recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities. The directors have decided not to recognise any deferred tax asset in excess of the deferred tax liabilities due to the uncertainty over the timing of realising that asset.
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BRISDOC HEALTHCARE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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BRISDOC HEALTHCARE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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BRISDOC HEALTHCARE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
11.TAXATION (CONTINUED)
The estimated deferred tax asset not recognised in relation to timing differences generated from unpaid bonus and charity donation provisions is approximately £336,692 (2024: £287,854). The directors have not recognised any deferred tax asset given the uncertainty of when the asset will be realised.
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BRISDOC HEALTHCARE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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BRISDOC HEALTHCARE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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BRISDOC HEALTHCARE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Share premium account
Capital redemption reserve
Profit and loss account
The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund. Contributions totalling £780,333 (2024: £561,797) were payable to the fund at the reporting date and are included in creditors.
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BRISDOC HEALTHCARE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
The company's entire issued share capital is held by the Brisdoc Employee Ownership Trust (EOT). The trustee of the EOT is Brisdoc Trustee Limited . There is no ultimate controlling party.
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