Highland Local Medical Committee Limited Filleted accounts for Companies House (small and micro)

HIGHLAND LOCAL MEDICAL COMMITTEE LIMITED - Company Information

6 false false false false false false false false false true false false false false false false No description of principal activity 2022-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 595 260 84 344 251 335 xbrli:pure xbrli:shares iso4217:GBP SC364745 2022-04-01 2023-03-31 SC364745 2023-03-31 SC364745 2022-03-31 SC364745 2021-04-01 2022-03-31 SC364745 2022-03-31 SC364745 2021-03-31 SC364745 bus:Director1 2022-04-01 2023-03-31 SC364745 core:WithinOneYear 2023-03-31 SC364745 core:WithinOneYear 2022-03-31 SC364745 core:OtherReservesSubtotal 2023-03-31 SC364745 core:OtherReservesSubtotal 2022-03-31 SC364745 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC364745 core:RetainedEarningsAccumulatedLosses 2022-03-31 SC364745 bus:SmallEntities 2022-04-01 2023-03-31 SC364745 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 SC364745 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 SC364745 bus:CompanyLimitedByGuarantee 2022-04-01 2023-03-31 SC364745 bus:FullAccounts 2022-04-01 2023-03-31 SC364745 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 SC364745 core:FurnitureFittingsToolsEquipment 2023-03-31 SC364745 core:FurnitureFittingsToolsEquipment 2022-03-31

COMPANY REGISTRATION NUMBER: SC364745

Highland Local Medical Committee Limited

Company Limited by Guarantee

Filleted Unaudited Financial Statements

31 March 2023

Highland Local Medical Committee Limited

Company Limited by Guarantee

Statement of Financial Position

31 March 2023

	2023		2022
Note	£	£	£

Fixed assets

Tangible assets	6		251	335

Current assets

Debtors	7	1,337	8,221
Cash at bank and in hand		105,870	89,537
		---------	--------
		107,207	97,758

Creditors: amounts falling due within one year	8	( 11,611)		( 14,570)
		---------		--------
Net current assets			95,596	83,188
			--------	--------
Total assets less current liabilities			95,847	83,523
			--------	--------
Net assets			95,847	83,523
			--------	--------

Capital and reserves

Other reserves	38,500	38,500
Profit and loss account	57,347	45,023
	--------	--------
Members funds	95,847	83,523
	--------	--------

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.

For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- 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 ;

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

Highland Local Medical Committee Limited

Company Limited by Guarantee

Statement of Financial Position (continued)

31 March 2023

These financial statements were approved by the board of directors and authorised for issue on 13 June 2024 , and are signed on behalf of the board by:

Dr P McMullan

Director

Company registration number: SC364745

Highland Local Medical Committee Limited

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 Scotland. The address of the registered office is Forbes House, 36 Huntly Street, Inverness, IV3 5PR, Scotland.

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, 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 and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

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.

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:

	Computer equipment	-	25% 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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Company limited by guarantee

Highland Local Medical Co. is a company limited by guarantee and accordingly does not have any share capital.

5. Employee numbers

The average number of persons employed by the company during the year amounted to 6 (2022: 4 ).

Included in the average number of persons employed by the company are 5 (2022: 3) directors who are officers of the company.

6. Tangible assets

	Computer equipment	Total
	£	£
Cost
At 1 April 2022 and 31 March 2023	595	595
	----	----
Depreciation
At 1 April 2022	260	260
Charge for the year	84	84
	----	----
At 31 March 2023	344	344
	----	----
Carrying amount
At 31 March 2023	251	251
	----	----
At 31 March 2022	335	335
	----	----

7. Debtors

	2023	2022
	£	£
Other debtors	1,337	8,221
	-------	-------

8. Creditors: amounts falling due within one year

	2023	2022
	£	£
Trade creditors	297	7,532
Social security and other taxes	6,108	4,082
Other creditors	5,206	2,956
	--------	--------
	11,611	14,570
	--------	--------