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Registered number: OC379746
FELIXSTOWE MEDICAL LLP
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 MARCH 2025
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FELIXSTOWE MEDICAL LLP
REGISTERED NUMBER: OC379746
BALANCE SHEET
AS AT 31 MARCH 2025
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Loans and other debts due to members within one year
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Members' capital classified as a liability
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Other reserves classified as equity
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Amounts due from members (included in debtors)
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Loans and other debts due to members
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FELIXSTOWE MEDICAL LLP
REGISTERED NUMBER: OC379746
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2025
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime.
The entity was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements.
The financial statements have been delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The entity has opted not to file the profit and loss account in accordance with the provisions applicable to entities subject to the small LLPs regime.
The financial statements were approved and authorised for issue by the members and were signed on their behalf on 16 December 2025.
................................................
Dr R Chhabra
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The notes on pages 3 to 7 form part of these financial statements.
Felixstowe Medical LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of changes in equity.
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FELIXSTOWE MEDICAL LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Felixstowe Medical LLP is a limited liability partnership incorporated in England and Wales. The address of the registered office is given on the information page.
2.Accounting policies
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Basis of preparation of financial statements
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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 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the LLP's accounting policies.
The following principal accounting policies have been applied:
At the year end the entity had net current assets of £60,319. The members have deemed it appropriate for the financial statements to be prepared on the going concern basis as they have undertaken to continue to provide such financial support as the entity requires.
Interest income is recognised in the profit or loss using a rate of 11% per annum.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
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Associate and joint ventures
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Associates and Joint Ventures are held at cost less impairment.
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.
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FELIXSTOWE MEDICAL LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
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Cash and cash equivalents
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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.
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.
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The average monthly number of persons (including members with contracts of employment) employed during the year was as follows:
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Average number of employees
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Investments in joint ventures
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FELIXSTOWE MEDICAL LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Due after more than one year
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Amounts owed by group undertakings
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Creditors: Amounts falling due within one year
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Accruals and deferred income
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Creditors: Amounts falling due after more than one year
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FELIXSTOWE MEDICAL LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Analysis of the maturity of loans is given below:
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Amounts falling due within one year
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Amounts falling due 1-2 years
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Amounts falling due 2-5 years
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Bank loans are secured on the assets of the LLP and personal guarantees from the members.
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FELIXSTOWE MEDICAL LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Related party transactions
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Felixstowe Medical LLP is a member of the trading LLP, Felixstowe Healthcare LLP. The investment account represents Felixstowe Medical LLP's capital investment in Felixstowe Healthcare LLP. The current account represents Felixstowe Medical LLP's share of profit. The loan account represents a loan made by Felixstowe Medical LLP to Felixstowe Healthcare LLP. The balances on these accounts at the period end were as follows:
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Current account - included in debtors
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Loan account - debtors after more than one year
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Interest is charged at 11% per annum on the loan to Felixstowe Healthcare LLP and is repayable within five years. The interest charge that relates to the current year is £4,400 (2024 - £4,400). Included in debtors due within one year is £88,121 (2024 - £25,261) of amounts owed from Felixstowe Healthcare LLP.
Included within other creditors is £21,780 (2024 - £13,990) owed to a connected party.
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