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Unaudited Financial Statements
Northern Ireland General Practitioners Defence Fund Limited
For the Year Ended 30 June 2026
Registered number: NI069523
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Northern Ireland General Practitioners Defence Fund Limited
(A company limited by guarantee)
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Company Information
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Dr C Mullan (appointed 11 October 2025)
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Grant Thornton Advisors (NI) LLP
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12 - 15 Donegall Square West
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Northern Ireland General Practitioners Defence Fund Limited
(A company limited by guarantee)
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Contents
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Notes to the financial statements
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Independent Accountant's Report to the directors of the unaudited financial statements of Northern Ireland General Practitioners Defence Fund Limited for the Year Ended 30 June 2026
In order to assist you fulfil your duties under the Companies Act 2006, we have compiled the financial statements of Northern Ireland General Practitioners Defence Fund Limited for the year ended 30 June 2026, which comprise the Balance sheet and the related notes to the financial statements, including a summary of significant accounting policies, from the company's accounting records and from information and explanations you have given to us.
The financial statements have been prepared on the basis set out in the notes to the financial statements.
This report is made solely to the directors of Northern Ireland General Practitioners Defence Fund Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely that we might compile the financial statements that we have been engaged to compile, report to the company's directors that we have done so and state those matters that we have agreed to state to the directors of Northern Ireland General Practitioners Defence Fund Limited, as a body, in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Northern Ireland General Practitioners Defence Fund Limited and its directors, as a body, for our work or for this report.
We have carried out this engagement in accordance with International Standard on Related Services 4410 (Revised) Compilation Engagements issued by the International Auditing and Assurance Standards Board (the ‘IAASB’’) and have complied with the ethical guidance laid down by the IESBA Code and Chartered Accountants Ireland relating to members undertaking the compilation of financial statements.
You have approved the financial statements for the year ended 30 June 2026 and you have acknowledged on the Balance sheet as at 30 June 2026 your duty to ensure that Northern Ireland General Practitioners Defence Fund Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view in accordance with the Companies Act 2006. You consider that Northern Ireland General Practitioners Defence Fund Limited is exempt from the statutory audit requirement for the year ended 30 June 2026.
We have not been instructed to carry out an audit or review the financial statements of Northern Ireland General Practitioners Defence Fund Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
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Grant Thornton Advisors (NI) LLP
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Chartered Accountants
12 - 15 Donegall Square West
Belfast
BT1 6JH
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Date: 30 September 2026
Page 1
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Northern Ireland General Practitioners Defence Fund Limited
(A company limited by guarantee)
Registered number:NI069523
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Balance sheet
As at 30 June 2026
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Page 2
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Northern Ireland General Practitioners Defence Fund Limited
(A company limited by guarantee)
Registered number:NI069523
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Balance sheet (continued)
As at 30 June 2026
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 comprehensive income 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 on 30 September 2026.
The notes on pages 4 to 8 form part of these financial statements.
Page 3
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Northern Ireland General Practitioners Defence Fund Limited
(A company limited by guarantee)
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Notes to the financial statements
For the Year Ended 30 June 2026
Northern Ireland General Practitioners Defence Fund Limited is a private company limited by guarantee and incorporated in Northern Ireland. The registered office is Suite 206, Eagle Star House, 5-7 Upper Queen St, Belfast, Northern Ireland, BT1 6FB.
The principal activity of the company is the provision of services related to general medical practice activities.
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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The financial statements are presented in Sterling (£).
The following principal accounting policies have been applied:
The directors have assessed that there are adequate resources to meet the ongoing costs of the business for a minimum of 12 months from the date of signing the financial statements. For this reason the financial statements have been prepared on a going concern basis which presumes the realisation of assets and liabilities in the normal course of business.
Turnover shown in the Statement of comprehensive income represents grants receivable for the purpose of supporting health and social care in Northern Ireland. Turnover is recognised as the levy payments fall due on a monthly basis.
Interest income is recognised in profit or loss using the effective interest method.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Page 4
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Northern Ireland General Practitioners Defence Fund Limited
(A company limited by guarantee)
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Notes to the financial statements
For the Year Ended 30 June 2026
2.Accounting policies (continued)
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and
∙Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Company can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.
Page 5
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Northern Ireland General Practitioners Defence Fund Limited
(A company limited by guarantee)
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Notes to the financial statements
For the Year Ended 30 June 2026
2.Accounting policies (continued)
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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Provisions for liabilities
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Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to profit or loss.
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Judgements in applying accounting policies and key sources of estimation uncertainty
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Estimates and judgements are required when applying accounting policies. These are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The company makes estimates and assumptions concerning the future, which can involve a high degree of judgement or complexity. The resulting accounting estimates will, by definition, seldom equal the related actual results.
In the directors' opinions, there are no significant judgements, estimates and assumptions made about the recognition of assets, liabilities, incomes and expenses.
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The average monthly number of employees, including directors, during the year was 34 (2025 - 33).
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Page 6
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Northern Ireland General Practitioners Defence Fund Limited
(A company limited by guarantee)
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Notes to the financial statements
For the Year Ended 30 June 2026
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Prepayments and accrued income
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Cash and cash equivalents
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Page 7
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Northern Ireland General Practitioners Defence Fund Limited
(A company limited by guarantee)
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Notes to the financial statements
For the Year Ended 30 June 2026
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Creditors: Amounts falling due within one year
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Other taxation and social security
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Accruals and deferred income
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Profit and loss account
This includes all current and prior period retained profits and losses.
The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.
The company is controlled by the Directors.
Page 8
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