Ipswich Road Surgery Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 08309551

Ipswich Road Surgery Limited

Unaudited financial statements

31 March 2025

Ipswich Road Surgery Limited

Statement of financial position

31 March 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Intangible assets	5	172,500	195,000
Tangible assets	6	126,589	238,616
		---------	---------
		299,089	433,616

Current assets

Stocks		3,500	3,500
Debtors	7	4,010,448	3,516,829
Cash at bank and in hand		–	1,811
		-----------	-----------
		4,013,948	3,522,140

Creditors: Amounts falling due within one year	8	( 740,895)		( 770,956)
		-----------		-----------
Net current assets			3,273,053		2,751,184
			-----------		-----------
Total assets less current liabilities			3,572,142		3,184,800

Creditors: Amounts falling due after more than one year	9		( 37,746)		( 158,717)

Provisions

Taxation including deferred tax	( 16,304)	( 18,659)
	-----------	-----------
Net assets	3,518,092	3,007,424
	-----------	-----------

Capital and reserves

Called up share capital	1	1
Profit and loss account	3,518,091	3,007,423
	-----------	-----------
Shareholders funds	3,518,092	3,007,424
	-----------	-----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the 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.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Ipswich Road Surgery Limited

Statement of financial position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 30 December 2025 , and are signed on behalf of the board by:

Dr L Khangura
Director

Company registration number: 08309551

Ipswich Road Surgery Limited

Notes to the financial statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Sixty Six, North Quay, Great Yarmouth, NR30 1HE.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

No significant judgements, estimations and uncertainties have arisen in the preparation of the financial statements .

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered.

Income tax

Provision is made, under the liability method, to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Goodwill	-	5% straight line
Patient list	-	20% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Long leasehold property	-	2% straight line
Fixtures and fittings	-	20% reducing balance
Motor vehicles	-	25% straight line
Computer equipment	-	33% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

4. Employee numbers

The average number of employees during the year was 8 (2024: 9 ).

5. Intangible assets

	Goodwill	Patient list	Total
	£	£	£
Cost
At 1 April 2024 and 31 March 2025	450,000	17,672	467,672
	---------	-------	---------
Amortisation
At 1 April 2024	255,000	17,672	272,672
Charge for the year	22,500	–	22,500
	---------	-------	---------
At 31 March 2025	277,500	17,672	295,172
	---------	-------	---------
Carrying amount
At 31 March 2025	172,500	–	172,500
	---------	-------	---------
At 31 March 2024	195,000	–	195,000
	---------	-------	---------

6. Tangible assets

	Long leasehold property	Fixtures and fittings	Motor vehicles	Computer equipment	Total
	£	£	£	£	£
Cost
At 1 April 2024	33,812	230,789	112,789	33,374	410,764
Additions	12,720	10,334	–	–	23,054
Disposals	–	–	( 112,789)	–	( 112,789)
	-------	---------	---------	-------	---------
At 31 March 2025	46,532	241,123	–	33,374	321,029
	-------	---------	---------	-------	---------
Depreciation
At 1 April 2024	1,354	145,488	–	25,306	172,148
Charge for the year	741	18,894	–	2,657	22,292
	-------	---------	---------	-------	---------
At 31 March 2025	2,095	164,382	–	27,963	194,440
	-------	---------	---------	-------	---------
Carrying amount
At 31 March 2025	44,437	76,741	–	5,411	126,589
	-------	---------	---------	-------	---------
At 31 March 2024	32,458	85,301	112,789	8,068	238,616
	-------	---------	---------	-------	---------

7. Debtors

	2025	2024
	£	£
Trade debtors	2,000	2,000
Other debtors	4,008,448	3,514,829
	-----------	-----------
	4,010,448	3,516,829
	-----------	-----------

8. Creditors: Amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	52,768	23,626
Trade creditors	29,460	27,594
Social security and other taxes	604,642	682,134
Other creditors	54,025	37,602
	---------	---------
	740,895	770,956
	---------	---------

The bank loan and overdraft is personally guaranteed by the directors.

9. Creditors: Amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	37,746	54,423
Other creditors	–	104,294
	-------	---------
	37,746	158,717
	-------	---------

The bank loan and overdraft is personally guaranteed by the directors.

10. Director's advances, credits and guarantees

During the year, the company operated a loan account with the director. At the year end the director owed the company £3,154,077 (2024 £2,666,218). The loan account is charged interest at HM Revenue & Customs approved rate.