REGISTERED NUMBER: 03160204 (England and Wales)

GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

SOUTH DOC SERVICES LIMITED

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

5

Consolidated Income Statement

9

Consolidated Other Comprehensive Income

10

Consolidated Balance Sheet

11

Company Balance Sheet

12

Consolidated Statement of Changes in Equity

13

Company Statement of Changes in Equity

14

Consolidated Cash Flow Statement

15

Notes to the Consolidated Cash Flow Statement

16

Notes to the Consolidated Financial Statements

17

DIRECTORS:

Dr N C Chauhan

N Vora

REGISTERED OFFICE:

West Heath Medical Centre

194-196 West Heath Road

Northfield

Birmingham

B31 3HB

REGISTERED NUMBER:

03160204 (England and Wales)

AUDITORS:

Prime

Chartered Accountants

Statutory Auditor

Corner Oak

1 Homer Road

Solihull

B91 3QG

The directors present their strategic report of the company and the group for the year ended 31 March 2023.

South Doc Services Limited (SDS) is a GP Co-operative based in South Birmingham providing primary, community services. The organisation works with a non for profit mandate ensuring all surpluses are used to improve infrastructure and services for patients in the Birmingham area.

All of the services are based at local GP Practices or recognised Health and Community centres allowing patients ease of access. The organisation works with a number of the 'NHS family', Third Sector and Private provider partners in order to give patients a broader choice of services at different locations with seamlessly integrated pathways. Providers include member and non-member GP Practices, Birmingham Community Healthcare Trust and local Secondary Care hospitals.

All of the services we provide are NHS Services free at the point of care to patients and delivered by local staff ensuring knowledge of local service criteria, systems and processes.

SDS' continued to deliver its portfolio of services in the year which includes Urgent Care Services, Medical Services to augment primary care provision and assist community care services. The organisation continued to innovate new services to bring them out of traditional settings such as hospitals and deliver them with the right place with the right clinician at the right time. SDS is also a Training Hub for the Birmingham and Solihull ICB area, providing education for clinicians and supporting new specialist workers joining the traditional workforce.

SDS supports the local urgent care system which includes operating the South Birmingham Urgent Treatment Centre. The service is GP led and delivered and provides circa 85,000 consultations per annum. The centre is open 8am-8pm all year round and 75% of all patients are seen within 1 hour and over 95% seen with 2 hours. The centre is integrated with NHS 111 and the Ambulance diversion system amongst others.

South Doc Services My Healthcare Limited (SDSMH) is a local GP federation covering over 60 practices GP practices and a third of Birmingham's population, which continues to increase. The company began trading in March 2017. The results for SDSMH are consolidated into the accounts. SDSMH is a 51% subsidiary of SDS. SDSMH aims to help practices achieve 'primary care at scale', transforming services and bringing them closer to the patients home. The federation also creates opportunity for practices to seek investment for large scale innovation projects.The federation continued to provide the primary care services it did in the previous year and continued to support 9 Primary Care Networks across Birmingham.

This year continued to reflect the wider economy and proved to again be a difficult trading year for the local and national NHS system with specific financial issues for Birmingham and Solihull ICB and also Birmingham City Council. Both organisations had to manage significant financial deficits resulting in general cuts to services. The system noticed particular reduction or cuts to Proactive healthcare. Following last year's results and no indication that the contracting environment for new services was going to improve in any meaningful way, the leadership team focussed on planning for future contracts that could be expected in the upcoming NHS 10 year plan, reviewing current services for efficiency and an organisational restructure ensuring SDS was agile and prepared for future innovation and contracts.

The key risks to the group have been maintained from last year to recognise innovation funding and SDS' ability to attract NHS contracts are now not only more reliant on the different Integrated Care System processes and new partnerships through localities etc but now altogether unlikely to materialise at all in the short term due to the financial situation of the Birmingham and Solihull System.

At the time of writing the NHS 10 Year plan has now been released later than planned but notably whilst highlighting key conclusions which have long been SDS' mission such as transfer of care from hospitals to primary care and innovation using technology, the detail provided in the document was limited and therefore we consider 25-26 will require local system partners working very closely together to ascertain how the plan could be delivered. SDS as the largest primary care federation in the area have a key message to deliver. The SDS leadership have all made a firm commitment to take on external facing roles to ensure the system receives a robust voice from Primary Care and that Primary Care can respond to the challenges faced in other parts of the system in balance of our preferred solution of innovating from the grass roots and via patient feedback.

In the current year the Group turnover remained almost identical to last year demonstrating that SDS weathered the environment of largely contracts cuts well. Further large cost increases in staffing and operating costs which were mandated by the NHS to certain staff but applied by the organisation to all for equality were not matched by the similar increase in contract values. This included the 6% uplift and another notable rise to the National Living Wage. However despite the tough trading environment SDS made an almost £1 million swing from loss to profit. These surpluses will continue to be reinvested in the respective services and infrastructure to demonstrate the primary care sector is willing and able to take on further challenges of the local NHS system.

SDS and SDSMH continues to be financially robust and is able to be a responsive organisation being proactive in designing and delivering patient services to the residents of Birmingham.

ON BEHALF OF THE BOARD:

Dr N C Chauhan - Director

23 December 2025

The directors present their report with the financial statements of the company and the group for the year ended 31 March 2025.

DIVIDENDS

Dividends of £Nil (2024: £Nil) were paid during the year.

DIRECTORS

Dr N C Chauhan has held office during the whole of the period from 1 April 2024 to the date of this report.

Other changes in directors holding office are as follows:

Dr S J D Watkins - resigned 1 October 2024

N Vora - appointed 1 October 2024

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS

The auditors, Prime, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Dr N C Chauhan - Director

23 December 2025

Opinion

We have audited the financial statements of South Doc Services Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the group's and of the parent company affairs as at 31 March 2025 and of the group's profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the industry sector;

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation;

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence;

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining accounting estimates were indicative of potential bias; and

- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;

- enquiring of management as to actual and potential litigation and claims; and

- reviewing correspondence with HMRC and other relevant parties.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Jeremy Kitson BA FCA (Senior Statutory Auditor)

for and on behalf of Prime

Chartered Accountants

Statutory Auditor

Corner Oak

1 Homer Road

Solihull

B91 3QG

24 December 2025

TURNOVER

21,574,498

21,562,299

Distribution costs

82,340

86,106

Administrative expenses

21,079,729

22,148,176

21,162,069

22,234,282

412,429

(671,983

)

Other operating income

18,750

18,750

OPERATING PROFIT/(LOSS)

4

431,179

(653,233

)

Interest receivable and similar income

287,279

97,262

PROFIT/(LOSS) BEFORE TAXATION

718,458

(555,971

)

Tax on profit/(loss)

5

182,149

(105,959

)

PROFIT/(LOSS) FOR THE FINANCIAL YEAR

536,309

(450,012

)

Profit/(loss) attributable to:

Owners of the parent

357,935

(493,177

)

Non-controlling interests

178,374

43,165

536,309

(450,012

)

PROFIT/(LOSS) FOR THE YEAR

536,309

(450,012

)

OTHER COMPREHENSIVE INCOME

Share repurchase

(78,645

)

(143,808

)

Income tax relating to other comprehensive income

-

-

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

(78,645

)

(143,808

)

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

457,664

(593,820

)

Total comprehensive income attributable to:

Owners of the parent

279,289

(636,985

)

Non-controlling interests

178,375

43,165

457,664

(593,820

)

FIXED ASSETS

Tangible assets

7

851,081

858,375

Investments

8

-

-

Investment property

9

95,000

95,000

946,081

953,375

CURRENT ASSETS

Debtors

10

3,187,117

4,990,369

Cash at bank and in hand

13,642,917

12,233,285

16,830,034

17,223,654

CREDITORS

Amounts falling due within one year

11

4,962,905

5,821,380

NET CURRENT ASSETS

11,867,129

11,402,274

TOTAL ASSETS LESS CURRENT LIABILITIES

12,813,210

12,355,649

CAPITAL AND RESERVES

Called up share capital

13

623

728

Share premium

14

572,620

572,620

Capital redemption reserve

14

309

204

Retained earnings

14

10,691,895

10,412,709

SHAREHOLDERS' FUNDS

11,265,447

10,986,261

NON-CONTROLLING INTERESTS

15

1,547,763

1,369,388

TOTAL EQUITY

12,813,210

12,355,649

The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2025 and were signed on its behalf by:

Dr N C Chauhan - Director

FIXED ASSETS

Tangible assets

7

849,894

856,355

Investments

8

567,145

567,145

Investment property

9

95,000

95,000

1,512,039

1,518,500

CURRENT ASSETS

Debtors

10

3,538,447

2,990,307

Cash at bank and in hand

6,297,643

7,031,280

9,836,090

10,021,587

CREDITORS

Amounts falling due within one year

11

1,289,169

1,658,841

NET CURRENT ASSETS

8,546,921

8,362,746

TOTAL ASSETS LESS CURRENT LIABILITIES

10,058,960

9,881,246

CAPITAL AND RESERVES

Called up share capital

13

315

420

Share premium

14

34,930

34,930

Capital redemption reserve

14

297

192

Retained earnings

14

10,023,418

9,845,704

SHAREHOLDERS' FUNDS

10,058,960

9,881,246

Company's profit/(loss) for the financial year

256,464

(461,332

)

The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2025 and were signed on its behalf by:

Dr N C Chauhan - Director

Called up

share

Retained

Share

capital

earnings

premium

£

£

£

Balance at 1 April 2023

920

11,049,886

572,620

Changes in equity

Issue of share capital

(192

)

-

-

Total comprehensive income

-

(637,177

)

-

Balance at 31 March 2024

728

10,412,709

572,620

Changes in equity

Issue of share capital

(105

)

-

-

Total comprehensive income

-

279,185

-

Balance at 31 March 2025

623

10,691,894

572,620

Capital

redemption

Non-controlling

Total

reserve

Total

interests

equity

£

£

£

£

Balance at 1 April 2023

12

11,623,438

1,326,223

12,949,661

Changes in equity

Issue of share capital

-

(192

)

-

(192

)

Total comprehensive income

192

(636,985

)

43,165

(593,820

)

Balance at 31 March 2024

204

10,986,261

1,369,388

12,355,649

Changes in equity

Issue of share capital

-

(105

)

-

(105

)

Total comprehensive income

105

279,290

178,375

457,665

Balance at 31 March 2025

309

11,265,446

1,547,763

12,813,209

Called up

Capital

share

Retained

Share

redemption

Total

capital

earnings

premium

reserve

equity

£

£

£

£

£

Balance at 1 April 2023

612

10,451,036

34,930

-

10,486,578

Changes in equity

Issue of share capital

(192

)

-

-

-

(192

)

Total comprehensive income

-

(605,332

)

-

192

(605,140

)

Balance at 31 March 2024

420

9,845,704

34,930

192

9,881,246

Changes in equity

Issue of share capital

(105

)

-

-

-

(105

)

Total comprehensive income

-

177,714

-

105

177,819

Balance at 31 March 2025

315

10,023,418

34,930

297

10,058,960

Cash flows from operating activities

Cash generated from operations

1

393,168

(1,242,437

)

Tax paid

819,458

(600,000

)

Net cash from operating activities

1,212,626

(1,842,437

)

Cash flows from investing activities

Purchase of tangible fixed assets

(11,523

)

(1,500

)

Interest received

287,279

97,262

Net cash from investing activities

275,756

95,762

Cash flows from financing activities

Share repurchase

(78,750

)

(144,000

)

Net cash from financing activities

(78,750

)

(144,000

)

Increase/(decrease) in cash and cash equivalents

1,409,632

(1,890,675

)

Cash and cash equivalents at beginning of year

2

12,233,285

14,123,960

Cash and cash equivalents at end of year

2

13,642,917

12,233,285

1.	RECONCILIATION OF PROFIT/(LOSS) BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2025

2024

£

£

Profit/(loss) before taxation

718,458

(555,971

)

Depreciation charges

18,282

18,135

Loss on disposal of fixed assets

537

-

Impairment of investment property

-

125,000

Finance income

(287,279

)

(97,262

)

449,998

(510,098

)

Decrease in trade and other debtors

801,645

241,666

Decrease in trade and other creditors

(858,475

)

(974,005

)

Cash generated from operations

393,168

(1,242,437

)

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2025

31.3.25

1.4.24

£

£

Cash and cash equivalents

13,642,917

12,233,285

Year ended 31 March 2024

31.3.24

1.4.23

£

£

Cash and cash equivalents

12,233,285

14,123,960

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.24

Cash flow

At 31.3.25

£

£

£

Net cash

Cash at bank and in hand

12,233,285

1,409,632

13,642,917

12,233,285

1,409,632

13,642,917

Total

12,233,285

1,409,632

13,642,917

1.	STATUTORY INFORMATION

South Doc Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Basis of consolidation

The Group consolidated financial statements include the financial statements of the Company and its subsidiary undertaking detailed in note 8.

Turnover

Turnover is measured at the fair value of the consideration received and receivable under contracts for the provision of medical services to the company's customers during the year. Where a contract has only been partially completed at the company's year end, turnover represents the fair value of services provided to that date based on a proportion of the total contract value. Profit is recognised on long term contracts if the final outcome can be assessed with reasonable certainty, by including in the statement of income and retained earnings the fair value of turnover and related costs as the contract progresses

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Long leasehold

-

over remaining life of lease

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

No depreciation is provided on freehold land.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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 balance sheet date.