Shawbirch Medical Health Practice Limite - Accounts to registrar (filleted)

REGISTERED NUMBER: 11869828 (England and Wales)

SHAWBIRCH MEDICAL HEALTH PRACTICE

LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Dr P Coventry

Dr P B Davies

Dr C J Freeman

Dr C Garrington

Dr C McDermott

Dr E Steedman

Mrs H E Heinink

Mr B G Henshall

REGISTERED OFFICE:

Shawbirch Medical Centre

Brandon Avenue

Admaston

Telford

Shropshire

TF5 0DU

REGISTERED NUMBER:

11869828 (England and Wales)

ACCOUNTANTS:

TCA (Shrewsbury) LLP

Third Floor

21 St Mary's Street

Shrewsbury

Shropshire

SY1 1ED

FIXED ASSETS

Investment property

4

5,130,000

CURRENT ASSETS

Debtors

5

9,360

13,360

Cash at bank

173,670

91,450

183,030

104,810

CREDITORS

Amounts falling due within one year

6

66,009

63,399

NET CURRENT ASSETS

117,021

41,411

TOTAL ASSETS LESS CURRENT
LIABILITIES

5,247,021

5,171,411

CREDITORS

Amounts falling due after more than one
year

7

(4,041,275

)

(4,101,322

)

PROVISIONS FOR LIABILITIES

10

(288,874

)

(310,328

)

NET ASSETS

916,872

759,761

CAPITAL AND RESERVES

Called up share capital

11

100

Revaluation reserve

826,685

Retained earnings

90,087

(67,024

)

SHAREHOLDERS' FUNDS

916,872

759,761

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 December 2025 and were signed on its behalf by:

Dr P B Davies - Director

1.	STATUTORY INFORMATION

Shawbirch Medical Health Practice Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 11869828 and registered office address is:

Shawbirch Medical Centre

Brandon Avenue

Admaston

Telford

TF5 0DU

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the rent received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.

Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in the other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in the profit or loss.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of

financial assets and liabilities like trade and other accounts receivable and payable, loans from banks

and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each

reporting period for objective evidence of impairment. If objective evidence of impairment is found, an

impairment loss is recognised in the profit and loss account.

For financial assets measured at amortised cost, the impairment loss is measured as the difference

between an asset's carrying amount and the present value of estimated cash flows discounted at the

asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate

for measuring any impairment loss is the current effective interest rate determined under the contract.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

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.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing

borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net

of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and

Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest

payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer

settlement of the liability for at least twelve months after the reporting date.

Going concern

The company meets its day to day working capital requirements from finance provided by Lloyds

Bank Plc. As detailed in note 9 to the financial statements, the two financial loans are secured by a

charge over the companies assets.

The rental income from tenancies for the building will continue to exceed the company's costs in future periods.For this reason the financial statements have been drawn up on the going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2024 - 8 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

5,130,000

NET BOOK VALUE

At 31 March 2025

5,130,000

At 31 March 2024

5,130,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2023

1,137,013

Cost

3,992,987

5,130,000

If investment property had not been revalued it would have been included at the following historical cost:

2025

2024

£

Cost

3,992,987

Investment property was valued on an open market basis on 23 August 2022 by Christie & Co .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

9,360

Other debtors

-

4,000

9,360

13,360

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Bank loans and overdrafts (see note 8)

60,047

56,852

VAT

4,362

4,447

Accruals and deferred income

1,600

2,100

66,009

63,399

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2025

2024

£

Bank loans (see note 8)

4,041,275

4,101,322

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

1,920,000

Repayable by instalments

Bank loans more 5 yr by instal

1,855,601

1,926,212

8.

LOANS

An analysis of the maturity of loans is given below:

2025

2024

£

Amounts falling due within one year or on demand:

Bank loans

60,047

56,852

Amounts falling due between one and two years:

Bank loans - 1-2 years

62,575

60,047

Amounts falling due between two and five years:

Bank loans - 2-5 years

203,099

195,063

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

1,920,000

Repayable by instalments

Bank loans more 5 yr by instal

1,855,601

1,926,212

Bank loans are secured by fixed and floating charges. Floating charges covers all the property or undertaking of the company. One of the outstanding loans is interest only and the other is interest and capital repayments.

9.	FINANCIAL INSTRUMENTS

2025

2024

£

Financial assets

Financial assets measured at fair value through profit or loss

173,670

91,450

Financial assets that are debt instruments measured at amortised cost

9,360

13,360

183,030

104,810

Financial liabilities

Financial liabilities measured at amortised cost

(5,962

)

(6,547

)

(5,962

)

(6,547

)

Financial assets measured at fair value through profit or loss comprise the cash at bank.

Financial assets measured at amortised cost comprise trade debtors and other debtors.

Financial liabilities measured at amortised cost comprise trade and other creditors and accruals.

10.	PROVISIONS FOR LIABILITIES

2025

2024

£

Deferred tax

288,874

310,328

Deferred

tax

£

Balance at 1 April 2024

310,328

Credit to Income Statement during year

(21,454

)

Balance at 31 March 2025

288,874

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

100

Ordinary

£1

100