Southport & Formby Health Limited 31/03/2025 iXBRL

Company registration number: 09989015

Southport & Formby Health Limited

Unaudited filleted financial statements

31 March 2025

Southport & Formby Health Limited

Contents

Directors and other information

Statement of financial position

Notes to the financial statements

Southport & Formby Health Limited

Directors and other information


Directors	Mr Paul Ashby	(Resigned 4 November 2024)
	Ms Jane Ayres
	Ms Nicole Marshall
	Dr Lindsay McClelland
	Dr Abdul Zubairu


Company number	09989015


Registered office	3 Wight Moss Way
	Southport
	PR8 4HQ


Business address	3 Wight Moss Way
	Southport
	PR8 4HQ


Accountants	Forshaws Accountants Limited
	Crossens Way Business Park
	Crossens Way
	Southport
	PR9 9LY

Southport & Formby Health Limited

Statement of financial position

31 March 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Tangible assets	5	48,832		67,434
		_______		_______
			48,832		67,434

Current assets
Stocks		-		970
Debtors	6	321,993		649,886
Cash at bank and in hand		1,118,825		890,020
		_______		_______
		1,440,818		1,540,876
Creditors: amounts falling due
within one year	7	( 578,191)		( 574,935)
		_______		_______
Net current assets			862,627		965,941
			_______		_______
Total assets less current liabilities			911,459		1,033,375


Provisions for liabilities			( 12,208)		( 16,859)

			_______		_______
Net assets			899,251		1,016,516
			_______		_______

Capital and reserves
Called up share capital	8		24		24
Profit and loss account			899,227		1,016,492
			_______		_______
Shareholders funds			899,251		1,016,516
			_______		_______

For the year 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 year 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 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 statement of income and retained earnings has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 03 October 2025 , and are signed on behalf of the board by:

Dr Lindsay McClelland

Director

Company registration number: 09989015

Southport & Formby Health Limited

Notes to the financial statements

Year ended 31 March 2025

1. General information

The principal activity of the company is that of providing general medical services.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax.Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Medical equipment	-	25% Straight line
Fittings fixtures and equipment	-	25% Straight line
Computer equipment	-	25% Straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

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.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 98 (2024: 75 ).

5. Tangible assets

	Plant and machinery	Fixtures, fittings and equipment	Tangible assets - user defined	Total
	£	£	£	£
Cost
At 1 April 2024 and 31 March 2025	26,858	47,818	51,538	126,214
	_______	_______	_______	_______
Depreciation
At 1 April 2024	26,682	12,142	19,806	58,630
Charge for the year	176	10,387	8,189	18,752
	_______	_______	_______	_______
At 31 March 2025	26,858	22,529	27,995	77,382
	_______	_______	_______	_______
Carrying amount
At 31 March 2025	-	25,289	23,543	48,832
	_______	_______	_______	_______
At 31 March 2024	176	35,676	31,732	67,584
	_______	_______	_______	_______

6. Debtors

	2025	2024
	£	£
Trade debtors	217,817	351,752
Other debtors	104,176	298,134
	_______	_______
	321,993	649,886
	_______	_______

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	21,909	151,760
Corporation tax	129,309	117,739
Social security and other taxes	45,646	43,635
Other creditors	381,327	261,801
	_______	_______
	578,191	574,935
	_______	_______

8. Called up share capital

Issued, called up and fully paid

	2025		2024
	No	£	No	£
Ordinary A shares of £ 0.01 each	991	10	984	10
Ordinary B shares of £ 1.00 each	11	11	11	11
Ordinary C shares of £ 1.00 each	3	3	3	3
	_______	_______	_______	_______
	1,005	24	998	24
	_______	_______	_______	_______

9. Related party transactions

As detailed in Note 7 and Note 8, at the current and prior year balance sheet date, there was amounts outstanding to/from Southport and Formby PCN, a connected party. Transactions with Southport and Formby PCN took place in the year of which its member practices are shareholders in the Company. Transactions took place under normal market conditions.

10. Controlling party

The company is not under the control of any one individual.