DMC Health LLP Filleted accounts for Companies House (small and micro)

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REGISTERED NUMBER: OC348142

DMC Health LLP

Filleted Unaudited Financial Statements

31 August 2023

DMC Health LLP

Financial Statements

Year ended 31 August 2023

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

DMC Health LLP

Statement of Financial Position

31 August 2023

	2023		2022
Note	£	£	£

Fixed assets

Tangible assets	5		2,338,600	2,338,600

Current assets

Cash at bank and in hand	15,314		11,017

Creditors: amounts falling due within one year	6	66,065		66,065
		--------		--------
Net current liabilities			50,751	55,048
			------------	------------
Total assets less current liabilities			2,287,849	2,283,552

Creditors: amounts falling due after more than one year	7	1,142,869	1,259,313
		------------	------------
Net assets		1,144,980	1,024,239
		------------	------------

Represented by:

Loans and other debts due to members

Other amounts	8	1,144,980	1,024,239
		------------	------------

Members' other interests

Other reserves	–	–
	------------	------------
	1,144,980	1,024,239
	------------	------------

Total members' interests

Loans and other debts due to members	8	1,144,980	1,024,239
Members' other interests		–	–
		------------	------------
		1,144,980	1,024,239
		------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs' 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 (as applied to LLPs), the statement of comprehensive income has not been delivered.

For the year ending 31 August 2023 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) relating to small LLPs.

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of financial statements .

DMC Health LLP

Statement of Financial Position (continued)

31 August 2023

These financial statements were approved by the members and authorised for issue on 28 May 2024 , and are signed on their behalf by:

Mr A Gupta	Dr R Gupta
Designated Member	Designated Member

Registered number: OC348142

DMC Health LLP

Notes to the Financial Statements

Year ended 31 August 2023

1.	General information

The LLP is registered in England and Wales. The address of the registered office is 60 Chadwick Road, Peckham, London, SE15 4PU, United Kingdom.

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', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2018 (SORP 2018).

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.

Revenue recognition

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.

Members' participation rights

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with Section 22 of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is is discretionary on the part of the LLP.

Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.

Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the Income statement in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the Statement of financial position.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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 LLP are assigned to those units.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual agreements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transactions price including transaction costs. Subsequently, they are measured at amortised costs using the effective interest rate method, less impairment. If an arrangement constitutes a finance transactions it is measured at present value.

4.	Employee numbers

The average number of persons employed by the LLP during the year, including the members with contracts of employment, amounted to 2 (2022: 2 ).

5.	Tangible assets

	Freehold property
	£
Cost
At 1 September 2022 and 31 August 2023	2,338,600
	------------
Depreciation
At 1 September 2022 and 31 August 2023	–
	------------
Carrying amount
At 31 August 2023	2,338,600
	------------
At 31 August 2022	2,338,600
	------------

6. Creditors: amounts falling due within one year

	2023	2022
	£	£
Amounts owed to group undertakings and undertakings in which the LLP has a participating interest	65,465	65,465
Other creditors	600	600
	--------	--------
	66,065	66,065
	--------	--------

7. Creditors: amounts falling due after more than one year

	2023	2022
	£	£
Bank loans and overdrafts	1,142,869	1,259,313
	------------	------------

8.	Loans and other debts due to members

	2023	2022
	£	£
Amounts owed to members in respect of profits	1,144,980	1,024,239
	------------	------------

9.	Related party transactions

At the balance sheet date, the partnership owed £65,465 (2022: £65,465) to companies held within common control.