Lothian Independent Practitioners Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: SC165965

Lothian Independent Practitioners Limited

Company Limited by Guarantee

Filleted Financial Statements

For the year ended

31 March 2025

Lothian Independent Practitioners Limited

Company Limited by Guarantee

Financial Statements

Year ended 31 March 2025

Contents	Page

Statement of financial position	1

Notes to the financial statements	2

Lothian Independent Practitioners Limited

Company Limited by Guarantee

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	6		5,513	–

Current assets

Debtors	7	118,254	81,601
Cash at bank and in hand		97,458	101,056
		---------	---------
		215,712	182,657

Creditors: amounts falling due within one year	8	9,687		5,817
		---------		---------
Net current assets			206,025	176,840
			---------	---------
Total assets less current liabilities			211,538	176,840
			---------	---------
Net assets			211,538	176,840
			---------	---------

Capital and reserves

Profit and loss account	211,538	176,840
	---------	---------
Members funds	211,538	176,840
	---------	---------

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.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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:

Mr M R Dewar

Director

Company registration number: SC165965

Lothian Independent Practitioners Limited

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by guarantee, registered in Scotland. The address of the registered office is 1 George Square, Glasgow, G2 1AL.

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

Revenue recognition

Turnover is recognised when earned by the company in accordance with agreements in place and when the amount of revenue can be measured reliably.

Taxation

The taxation expense represents the amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

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:

	Equipment	-	40% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Company limited by guarantee

Every member of the company undertakes to contribute such amount as may be required (not exceeding £1) to the assets of the company, if it should be wound up while he/she is a member, or within one year after he/she ceases to be a member, for payment of debts and liabilities of the company contracted before he/she ceases to be a member, and of the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributories among themselves.

If upon the winding up or dissolution of the company there remains, after the satisfaction of all its debts and liabilities, any property whatsoever, the same may, with the sanction of an extraordinary meeting be (1) paid or distributed amongst the members of the company or (2) given or transferred to another institution having the same objects as the company.

5. Employee numbers

The average number of persons employed by the company during the year amounted to Nil (Last year: Nil).

6. Tangible assets

	Equipment	Total
	£	£
Cost
At 1 April 2024	–	–
Additions	8,490	8,490
	-------	-------
At 31 March 2025	8,490	8,490
	-------	-------
Depreciation
At 1 April 2024	–	–
Charge for the year	2,977	2,977
	-------	-------
At 31 March 2025	2,977	2,977
	-------	-------
Carrying amount
At 31 March 2025	5,513	5,513
	-------	-------
At 31 March 2024	–	–
	-------	-------

7. Debtors

	2025	2024
	£	£
Other debtors	118,254	81,601
	---------	--------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Corporation tax	7,643	3,867
Other creditors	2,044	1,950
	-------	-------
	9,687	5,817
	-------	-------

9. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	–	3,200
	----	-------

10. Summary audit opinion

The auditor's report dated 30 December 2025 was unqualified .

The senior statutory auditor was Louise Watson , for and on behalf of I.A. Stewart & Co Limited .