ACCOUNTS - Final Accounts

Commitments under operating leases

At 31 December 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

Registered number: SC376577

FIFE LOCAL MEDICAL COMMITTEE LIMITED

(A COMPANY LIMITED BY GUARANTEE)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FIFE LOCAL MEDICAL COMMITTEE LIMITED

(A COMPANY LIMITED BY GUARANTEE)

COMPANY INFORMATION

Directors	Dr A E Austin (resigned 7 August 2025)
	Dr M Gordon (resigned 7 August 2025)
	Dr D R Brown (resigned 7 August 2025)
	Dr A Caldicott (resigned 7 August 2025)
	Dr J A Collinson (resigned 7 August 2025)
	Dr R A Cook (resigned 7 August 2025)
	Dr H Dakin (resigned 7 August 2025)
	Dr J Christie (resigned 7 August 2025)
	Dr L Donaldson
	Dr L Dow (resigned 7 August 2025)
	Dr J Egerton (resigned 7 August 2025)
	Dr E Head (resigned 7 August 2025)
	Dr F Henderson
	Dr O J Kwanashie (resigned 7 August 2025)
	Dr S Lim
	Dr D S Lindsay
	Dr G D McCrickard (resigned 7 August 2025)
	Dr K McQuitty (resigned 7 August 2025)
	Dr S Mitchell
	Dr S Mills (resigned 7 August 2025)
	Dr J Peebles (resigned 7 August 2025)
	Dr S Lynch (resigned 7 August 2025) Dr M Ali (resigned 7 August 2025)
Registered number	SC376577


Registered office	Suite 8, 3rd Floor, Buko Tower
	Dalton Road
	Glenrothes
	Fife
	KY6 2SS


Accountants	EQ Accountants Limited
	Chartered Accountants
	Pentland House
	Saltire Centre
	Glenrothes
	Fife
	KY6 2AH

FIFE LOCAL MEDICAL COMMITTEE LIMITED

(A COMPANY LIMITED BY GUARANTEE)

REGISTERED NUMBER: SC376577

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2025

		2025		2024
		£		£


Tangible fixed assets			-		-
			-		-
Current assets
Debtors: amounts falling due within one year	5	1,745		1,699
Bank and cash balances		287,355		296,216
		289,100		297,915
Creditors: amounts falling due within one year	6	(46,510)		(37,206)
Net current assets			242,590		260,709
Total assets less current liabilities			242,590		260,709

Net assets			242,590		260,709

Capital and reserves
Profit and loss account	242,590	260,709

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FIFE LOCAL MEDICAL COMMITTEE LIMITED

(A COMPANY LIMITED BY GUARANTEE)

REGISTERED NUMBER: SC376577

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Dr S Lim

Director

Date: 29 April 2026

The notes on pages 3 to 7 form part of these financial statements.

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FIFE LOCAL MEDICAL COMMITTEE LIMITED

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1.	General information

The Company is limited by guarantee and incorporated in Scotland, Registration Number SC376577. The registered office address is Suite 8, 3rd Floor, Buko Tower, Dalton Road, Glenrothes, KY6 2SS.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standards applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:

2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of turnover can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

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FIFE LOCAL MEDICAL COMMITTEE LIMITED

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.4

Tangible fixed assets

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, using the straight-line method.

Depreciation is provided on the following basis:

Equipment

33.3% straight line

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.

2.5

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Employees

The average monthly number of employees, including directors, during the year was 18 (2024 - 34).

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FIFE LOCAL MEDICAL COMMITTEE LIMITED

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

4.	Tangible fixed assets

		Equipment
		£
	Cost or valuation
	At 1 January 2025	8,750
	At 31 December 2025	8,750
	Depreciation
	At 1 January 2025	8,750
	At 31 December 2025	8,750
	Net book value
	At 31 December 2025	-
	At 31 December 2024	-

Debtors

					2025	2024
					£	£


Prepayments and accrued income	1,745	1,699
	1,745	1,699

6.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Other creditors	341	341
Accruals and deferred income	46,169	36,865
	46,510	37,206

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FIFE LOCAL MEDICAL COMMITTEE LIMITED

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

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FIFE LOCAL MEDICAL COMMITTEE LIMITED

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025


7.	Company status

The company is a private company limited by guarantee and consequently does not have share capital. In the event of the company winding up any surplus funds would be given to the local medical committee or if this is not possible, given to some public object or objects, charitable or otherwise for the benefit of represented members.

Not later than 1 year	1,154	1,154
Later than 1 year and not later than 5 years	577	1,731
	1,731	2,885

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