My first "standard" Class 1 renewal was also £112.
The question is whether that also included things like the ECG and audio ?
In most practices they are regarded, and priced, as extras - usually at something like £ 35 - £ 40 each.
£ 112 for just the basic medical, haemoglobin, and AOL admin fee is about what one would expect in most practices. In many AME practices you would now also need to add the 17.5% for VAT.