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REGISTERED NUMBER: 05439782 (England and Wales)















FIRST FOR CARE LIMITED

ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023






FIRST FOR CARE LIMITED (REGISTERED NUMBER: 05439782)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Chartered Accountants' Report 2

Abridged Balance Sheet 3 to 4

Notes to the Financial Statements 5 to 8


FIRST FOR CARE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTOR: Mrs U Bailey





REGISTERED OFFICE: The Old Rectory Care Home
Leicester Road
Bedworth
Warwickshire
CV12 8BU





REGISTERED NUMBER: 05439782 (England and Wales)





ACCOUNTANTS: BCD Accountants Limited
Second Floor
21 Graham Street
Birmingham
United Kingdom
B1 3JR

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
FIRST FOR CARE LIMITED

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of First for Care Limited for the year ended 30 June 2023 which comprise the Abridged Income Statement, Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of First for Care Limited in accordance with the terms of our engagement letter dated 10 September 2019. Our work has been undertaken solely to prepare for your approval the financial statements of First for Care Limited and state those matters that we have agreed to state to the director of First for Care Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than First for Care Limited and its director for our work or for this report.

It is your duty to ensure that First for Care 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 profit of First for Care Limited. You consider that First for Care 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 First for Care 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.






BCD Accountants Limited
Second Floor
21 Graham Street
Birmingham
United Kingdom
B1 3JR


19 January 2024

FIRST FOR CARE LIMITED (REGISTERED NUMBER: 05439782)

ABRIDGED BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 1,308,580 1,431,330
Tangible assets 5 1,031,484 990,447
2,340,064 2,421,777

CURRENT ASSETS
Stocks 700 700
Debtors 351,935 230,102
Cash at bank and in hand 459,953 608,383
812,588 839,185
CREDITORS
Amounts falling due within one year (439,082 ) (562,983 )
NET CURRENT ASSETS 373,506 276,202
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,713,570

2,697,979

CREDITORS
Amounts falling due after more than one year (1,270,041 ) (1,267,080 )

PROVISIONS FOR LIABILITIES (12,010 ) (4,515 )
NET ASSETS 1,431,519 1,426,384

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,431,419 1,426,284
1,431,519 1,426,384

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

FIRST FOR CARE LIMITED (REGISTERED NUMBER: 05439782)

ABRIDGED BALANCE SHEET - continued
30 JUNE 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 June 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 January 2024 and were signed by:





Mrs U Bailey - Director


FIRST FOR CARE LIMITED (REGISTERED NUMBER: 05439782)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

First for Care Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated business over the fair value of net assets acquired. It is initially recognised as an asset at cost and subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is twenty years.

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment.

Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset on a straight line basis over its expected useful life, as follows:

Land and buildings - 2% on buildings per annum
Improvements to property - 4% per annum
Fixtures and fittings - 20% per annum
Motor vehicles - 20% per annum

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company has elected to apply the provisions pf Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


FIRST FOR CARE LIMITED (REGISTERED NUMBER: 05439782)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Going concern
The financial statements have been prepared using the going concern basis of accounting.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 103 (2022 - 101 ) .

FIRST FOR CARE LIMITED (REGISTERED NUMBER: 05439782)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 July 2022
and 30 June 2023 2,455,000
AMORTISATION
At 1 July 2022 1,023,670
Amortisation for year 122,750
At 30 June 2023 1,146,420
NET BOOK VALUE

At 30 June 2023 1,308,580
At 30 June 2022 1,431,330

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 July 2022 1,299,265
Additions 88,577
Disposals (200,236 )
At 30 June 2023 1,187,606
DEPRECIATION
At 1 July 2022 308,818
Charge for year 47,540
Eliminated on disposal (200,236 )
At 30 June 2023 156,122
NET BOOK VALUE
At 30 June 2023 1,031,484
At 30 June 2022 990,447

FIRST FOR CARE LIMITED (REGISTERED NUMBER: 05439782)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
Additions 79,496
At 30 June 2023 79,496
DEPRECIATION
Charge for year 15,899
At 30 June 2023 15,899
NET BOOK VALUE
At 30 June 2023 63,597

6. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 9,045 -
Between one and five years 50,918 -
59,963 -

Non-cancellable operating leases
2023 2022
£    £   
Within one year 3,605 6,706
Between one and five years - 7,210
3,605 13,916

7. SECURED DEBTS

There is a mortgage outstanding to Unity Bank PLC, at the balance sheet date £1,266,172 (2022: £1,305,290) is secured by a fixed and floating charge on the assets of the company.

At the balance sheet date the company had a loan balance outstanding of £28,104 (2022: £73,928). The loan is over a fixed term and is personally guaranteed by the director.