Caseware UK (AP4) 2022.0.179 2022.0.179 2023-04-302023-04-30true2022-04-12falseDevelopment of building projects1trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 14042011 2022-04-11 14042011 2022-04-12 2023-04-30 14042011 2021-04-12 2022-04-11 14042011 2023-04-30 14042011 c:Director1 2022-04-12 2023-04-30 14042011 d:FreeholdInvestmentProperty 2022-04-12 2023-04-30 14042011 d:FreeholdInvestmentProperty 2023-04-30 14042011 d:CurrentFinancialInstruments 2023-04-30 14042011 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 14042011 d:ShareCapital 2023-04-30 14042011 d:RetainedEarningsAccumulatedLosses 2023-04-30 14042011 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-04-30 14042011 c:FRS102 2022-04-12 2023-04-30 14042011 c:AuditExemptWithAccountantsReport 2022-04-12 2023-04-30 14042011 c:FullAccounts 2022-04-12 2023-04-30 14042011 c:PrivateLimitedCompanyLtd 2022-04-12 2023-04-30 iso4217:GBP xbrli:pure

Registered number: 14042011










FIRSTCARE ESTATES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 APRIL 2023

 
FIRSTCARE ESTATES LIMITED
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OFFIRSTCARE ESTATES LIMITED
FOR THE PERIOD ENDED 30 APRIL 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Firstcare Estates Limited for the period ended 30 April 2023 which comprise the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given to us.
 

This report is made solely to the director of Firstcare Estates Limited in accordance with the terms of our agreement. Our work has been undertaken solely to prepare for your approval the financial statements of Firstcare Estates Limited and state those matters that we have agreed to state to him in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Firstcare Estates Limited and its  director for our work or for this report.
 
 
It is your duty to ensure that Firstcare Estates Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the Company's assets, liabilities, financial position and loss. You consider that Firstcare Estates Limited is exempt from the statutory audit requirement for the period.
 
 
We have not been instructed to carry out an audit or review of the financial statements of Firstcare Estates 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.







Shipleys Tax Planning
 

12 April 2024
Page 1

 
FIRSTCARE ESTATES LIMITED
REGISTERED NUMBER: 14042011

BALANCE SHEET
AS AT 30 APRIL 2023

2023
Note
£

Fixed assets
  

Investment property
 4 
265,117

  
265,117

Current assets
  

Debtors: amounts falling due within one year
 5 
100

Cash at bank and in hand
 6 
824

  
924

Creditors: amounts falling due within one year
 7 
(281,770)

Net current (liabilities)/assets
  
 
 
(280,846)

Total assets less current liabilities
  
(15,729)

  

Net (liabilities)/assets
  
(15,729)


Capital and reserves
  

Called up share capital 
  
100

Profit and loss account
  
(15,829)

  
(15,729)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 12 April 2024.






Raza Ali
Page 2

 
FIRSTCARE ESTATES LIMITED
REGISTERED NUMBER: 14042011

BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2023

Director

The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
FIRSTCARE ESTATES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2023

1.


General information

Firstcare Estates Limited is a company domniciled in England and Wales, registration number
14042011. The registered office is 8 Norman Avenue, Sunnyhill, Derby, DE23 1HL.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.3

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.4

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.5

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
FIRSTCARE ESTATES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.6

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Page 5

 
FIRSTCARE ESTATES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2023

2.Accounting policies (continued)


2.6
Financial instruments (continued)

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Page 6

 
FIRSTCARE ESTATES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2023

3.


Employees




The average monthly number of employees, including directors, during the period was 1.


4.


Investment property


Freehold investment property

£



Valuation


Additions at cost
265,117



At 30 April 2023
265,117

The 2023 valuations were made by the director Mr R Ali, on an open market value for existing use basis.



At 30 April 2023



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:




5.


Debtors

2023
£


Other debtors
100

100



6.


Cash and cash equivalents

2023
£

Cash at bank and in hand
824

824


Page 7

 
FIRSTCARE ESTATES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2023

7.


Creditors: Amounts falling due within one year

2023
£

Other creditors
278,650

Accruals and deferred income
3,120

281,770



8.


Financial instruments

2023
£

Financial assets


Financial assets measured at fair value through profit or loss
824




Financial assets measured at fair value through profit or loss comprise of cash at bank and in hand.


9.


Related party transactions

During the period Firstcare (UK) Limited (a company which the director Raza Ali is a director and shareholder) loaned the company £163,150. At the balance sheet date other creditors included £163,150 as amounts owed to Firstcare (UK) Limited.
During the period Sandhurst Healthcare Limited (a company which the director Raza Ali is a director and shareholder) loaned the company £115,500. At the balance sheet date other creditors included £115,500 as amounts owed to Sandhurst Healthcare Limited.


Page 8