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SOUTH ESSEX MANAGED CARE LTD
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
South Essex Managed Care Limited is a private company limited by shares and incoporated in England and Wales, registration number 07502964. The registered office is Robert Frew Medical Centre, Silva Island Way, Wickford, Essex, SS12 9NR.
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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are presented in sterling which is the funtional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
The Director has considered the Company’s position at the time of signing the financial statements. They have considered future trading expectations, the current financial position of the Company and other factors such as mitigating ongoing costs.
Based on this, the Director has concluded that the company will have adequate resources to continue in operational existence for at least twelve months from the date of signing these financial statements and will therefore adopt the going concern basis of accounting in preparing these financial statements.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.
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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