Morgannwg Local Medical Committee Limited 31/03/2023 iXBRL
Morgannwg Local Medical Committee Limited 31/03/2023 iXBRL
Company registration number:
07582825
Company limited by guarantee
Company limited by guarantee
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Company limited by guarantee
Directors and other information
Directors |
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Appointed 1/3/2023 | |
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Resigned 4/4/2023 | ||
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Secretary |
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Company number |
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Registered office |
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Accountants |
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103-104 Walter Road | |||
Swansea | |||
SA1 5QF | |||
Company limited by guarantee
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Morgannwg Local Medical Committee Limited
Year ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Morgannwg Local Medical Committee Limited for the year ended 31 March 2023 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the board of directors of Morgannwg Local Medical Committee Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Morgannwg Local Medical Committee Limited and state those matters that we have agreed to state to the board of directors of Morgannwg Local Medical Committee Limited as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Morgannwg Local Medical Committee Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Morgannwg Local Medical Committee Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Morgannwg Local Medical Committee Limited. You consider that Morgannwg Local Medical Committee Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Morgannwg Local Medical Committee 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.
Chartered Certified Accountants
103-104 Walter Road
Swansea
SA1 5QF
4 July 2023
Company limited by guarantee
Statement of financial position
31 March 2023
2023 | 2022 | ||||||||
Note | £ | £ | £ | £ | |||||
Current assets | |||||||||
Debtors | 7 | - |
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Cash at bank and in hand |
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Creditors: amounts falling due | |||||||||
within one year | 8 |
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Net current assets |
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Total assets less current liabilities |
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Net assets |
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Capital and reserves | |||||||||
Profit and loss account |
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Members funds |
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Directors responsibilities:
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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;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
04 July 2023
, and are signed on behalf of the board by:
Director
Secretary
Company registration number:
07582825
Company limited by guarantee
Notes to the financial statements
Year ended 31 March 2023
1.
General information
The company is a private company limited by guarantee, registered in UK. The address of the registered office is C/O The Grove Medical Centre, 6 Uplands Terrace, Uplands, Swansea, SA2 0GU.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
Tangible assets
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:
Plant and machinery | - |
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Impairment
Financial instruments
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 or 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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4.
Limited by guarantee
The Company is limited by guarantee and having no share capital. The members are only liable up to £1 each.
5.
Employee numbers
The average number of persons employed by the company during the year amounted to
12
(2022:
13
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6.
Tangible assets
Plant and machinery | Total | ||
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Cost | |||
At 1 April 2022 and 31 March 2023 |
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Depreciation | |||
At 1 April 2022 and 31 March 2023 |
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Carrying amount | |||
At 31 March 2023 | - | - | |
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At 31 March 2022 | - | - | |
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7.
Debtors
2023 | 2022 | |||
£ | £ | |||
Other debtors | - |
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8.
Creditors: amounts falling due within one year
2023 | 2022 | |||
£ | £ | |||
Other creditors |
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9.
Related party transactions
The Company has common directors with the officers of Morgannwg Local Medical Committee. During the year, the company received management charges amounting to £165,197 (2022 £180,000) from Morgannwg Local Medical Committee.