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REGISTERED NUMBER: 10334587 (England and Wales)















Financial Statements for the Year Ended 30 April 2023

for

First City Healthcare Limited

First City Healthcare Limited (Registered number: 10334587)






Contents of the Financial Statements
for the Year Ended 30 April 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


First City Healthcare Limited

Company Information
for the Year Ended 30 April 2023







DIRECTORS: M C A Trowbridge
K P Trowbridge
S J Trowbridge





REGISTERED OFFICE: First City House
Cheney Manor Industrial Estate
Swindon
SN2 2QG





REGISTERED NUMBER: 10334587 (England and Wales)





AUDITORS: Morley & Co (UK) Ltd
Statutory Auditor, Chartered Certified Accountants
2 Cricklade Court
Old Town
Swindon
Wiltshire
SN1 3EY

First City Healthcare Limited (Registered number: 10334587)

Balance Sheet
30 April 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 248
Investment property 5 2,124,645 2,097,046
2,124,645 2,097,294

CURRENT ASSETS
Debtors 6 8,407 13,988
Cash at bank 11,863 34,173
20,270 48,161
CREDITORS
Amounts falling due within one year 7 196,497 254,376
NET CURRENT LIABILITIES (176,227 ) (206,215 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,948,418

1,891,079

CREDITORS
Amounts falling due after more than one
year

8

(1,924,104

)

(1,858,666

)

PROVISIONS FOR LIABILITIES (9,834 ) (9,881 )
NET ASSETS 14,480 22,532

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 14,470 22,522
14,480 22,532

First City Healthcare Limited (Registered number: 10334587)

Balance Sheet - continued
30 April 2023


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

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

The financial statements were approved by the Board of Directors and authorised for issue on 31 January 2024 and were signed on its behalf by:





S J Trowbridge - Director


First City Healthcare Limited (Registered number: 10334587)

Notes to the Financial Statements
for the Year Ended 30 April 2023

1. STATUTORY INFORMATION

First City Healthcare 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.


First City Healthcare Limited (Registered number: 10334587)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

2. ACCOUNTING POLICIES - continued
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.

Basic financial instruments
Basic financial instruments, including trade and other receivables and payables, cash and bank balances, bank loans and loans to or from other group companies are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 May 2022
and 30 April 2023 63,539 835 64,374
DEPRECIATION
At 1 May 2022 63,291 835 64,126
Charge for year 248 - 248
At 30 April 2023 63,539 835 64,374
NET BOOK VALUE
At 30 April 2023 - - -
At 30 April 2022 248 - 248

First City Healthcare Limited (Registered number: 10334587)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2022 2,097,046
Additions 27,599
At 30 April 2023 2,124,645
NET BOOK VALUE
At 30 April 2023 2,124,645
At 30 April 2022 2,097,046

The investment property was purchased in February 2017. The directors have determined that as at the balance sheet date the fair value of the property equated to its cost.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 3,073 1,500
Prepayments and accrued income 5,334 12,488
8,407 13,988

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 65,982 68,654
Trade creditors 1,443 1,025
Taxation and social security 121,662 121,032
Other creditors 7,410 63,665
196,497 254,376

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 661,439 705,424
Amounts owed to group undertakings 1,262,665 1,153,242
1,924,104 1,858,666

First City Healthcare Limited (Registered number: 10334587)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 365,735 408,379

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 727,421 774,078

The bank loan is secured on the property of the company and by guarantee from the parent company.

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Paul King FCCA (Senior Statutory Auditor)
for and on behalf of Morley & Co (UK) Ltd

11. ULTIMATE CONTROLLING PARTY

The company is under the control of Keith Trowbridge, Mary Trowbridge and Stephen Trowbridge.

The ultimate parent company is First City Nursing & Care Limited, a company incorporated in England and Wales. Accounts are available from Companies House, Crown Way, Cardiff, CF14 3UZ.