Sussex Medical Chambers Limited

Contents

Statement of financial position	1
Notes to the Unaudited Financial Statements	2 to 6

Sussex Medical Chambers Limited

(Registration number: 5021954)
Statement of financial position as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	199,024	81,365
Current assets
Stocks	5	9,876	10,500
Debtors	6	1,018,614	1,152,585
Cash at bank and in hand		1,139,729	1,430,703
		2,168,219	2,593,788
Creditors: Amounts falling due within one year	7	(412,936)	(767,154)
Net current assets		1,755,283	1,826,634
Total assets less current liabilities		1,954,307	1,907,999
Creditors: Amounts falling due after more than one year	7	(177,688)	(187,881)
Provisions for liabilities		(49,503)	(20,342)
Net assets		1,727,116	1,699,776
Capital and reserves
Called up share capital	8	360,000	360,000
Retained earnings		1,367,116	1,339,776
Shareholders' funds		1,727,116	1,699,776

For the financial 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 12 December 2025 and signed on its behalf by:
 

......................................... Mrs M Shoai-Naini Director

Sussex Medical Chambers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
10 Clive Avenue
Goring by Sea
West Sussex
BN12 4SG

These financial statements were authorised for issue by the Board on 12 December 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Sussex Medical Chambers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Long leasehold property	Straight line over the life of the lease
Plant & Machinery	5% straight line
Fittings, fixtures & equipment	33/15% reducing balance
Computer equipment	5% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Sussex Medical Chambers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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 income statement 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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 31 (2024 - 25).

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 April 2024	37,613	537,959	575,572
Additions	-	138,000	138,000
At 31 March 2025	37,613	675,959	713,572
Depreciation
At 1 April 2024	37,613	456,594	494,207
Charge for the year	-	20,341	20,341
At 31 March 2025	37,613	476,935	514,548
Carrying amount
At 31 March 2025	-	199,024	199,024
At 31 March 2024	-	81,365	81,365

Included within the net book value of land and buildings above is £Nil (2024 - £Nil) in respect of long leasehold land and buildings.
 

Sussex Medical Chambers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

5

Stocks

	2025 £	2024 £
Finished goods and goods for resale	9,876	10,500

6

Debtors

Current	2025 £	2024 £
Trade debtors	378,822	724,895
Prepayments	2,526	-
Other debtors	637,266	427,690
	1,018,614	1,152,585

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	9,528	9,528
Trade creditors		126,022	142,614
Amounts owed to associated companies		126,439	171,216
Taxation and social security		77,694	343,238
Accruals and deferred income		7,892	10,472
Other creditors		65,361	90,086
		412,936	767,154

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	9	177,688	187,881