Caseware UK (AP4) 2022.0.179 2022.0.179 2023-04-302023-04-30truefalse2022-03-01Pharmacy103trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13203252 2022-03-01 2023-04-30 13203252 2021-02-16 2022-02-28 13203252 2023-04-30 13203252 2022-02-28 13203252 c:Director1 2022-03-01 2023-04-30 13203252 d:FurnitureFittings 2022-03-01 2023-04-30 13203252 d:FurnitureFittings 2023-04-30 13203252 d:FurnitureFittings 2022-02-28 13203252 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-03-01 2023-04-30 13203252 d:Goodwill 2022-03-01 2023-04-30 13203252 d:Goodwill 2023-04-30 13203252 d:Goodwill 2022-02-28 13203252 d:CurrentFinancialInstruments 2023-04-30 13203252 d:CurrentFinancialInstruments 2022-02-28 13203252 d:Non-currentFinancialInstruments 2023-04-30 13203252 d:Non-currentFinancialInstruments 2022-02-28 13203252 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 13203252 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 13203252 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 13203252 d:Non-currentFinancialInstruments d:AfterOneYear 2022-02-28 13203252 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-04-30 13203252 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-02-28 13203252 d:ShareCapital 2023-04-30 13203252 d:ShareCapital 2022-02-28 13203252 d:RetainedEarningsAccumulatedLosses 2023-04-30 13203252 d:RetainedEarningsAccumulatedLosses 2022-02-28 13203252 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-04-30 13203252 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-02-28 13203252 c:FRS102 2022-03-01 2023-04-30 13203252 c:AuditExemptWithAccountantsReport 2022-03-01 2023-04-30 13203252 c:FullAccounts 2022-03-01 2023-04-30 13203252 c:PrivateLimitedCompanyLtd 2022-03-01 2023-04-30 13203252 d:Goodwill d:ExternallyAcquiredIntangibleAssets 2022-03-01 2023-04-30 13203252 2 2022-03-01 2023-04-30 13203252 d:Goodwill d:OwnedIntangibleAssets 2022-03-01 2023-04-30 iso4217:GBP xbrli:pure

Registered number: 13203252










FIRSTCARE DERBY LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 APRIL 2023

 
FIRSTCARE DERBY LTD
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OFFIRSTCARE DERBY LTD
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 Derby Ltd 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 Derby Ltd in accordance with the terms of our agreement. Our work has been undertaken solely to prepare for your approval the financial statements of Firstcare Derby Ltd 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 Derby Ltd and its  director for our work or for this report.
 
 
It is your duty to ensure that Firstcare Derby Ltd 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 Derby Ltd 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 Derby Ltd. 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

30 April 2024
Page 1

 
FIRSTCARE DERBY LTD
REGISTERED NUMBER: 13203252

BALANCE SHEET
AS AT 30 APRIL 2023

30 April
28 February
2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
766,454
212,659

Tangible assets
  
39,297
-

  
805,751
212,659

Current assets
  

Stocks
  
45,000
40,000

Debtors: amounts falling due within one year
 6 
292,172
183,424

Cash at bank and in hand
 7 
5,833
36,667

  
343,005
260,091

Creditors: amounts falling due within one year
 8 
(919,970)
(493,403)

Net current liabilities
  
 
 
(576,965)
 
 
(233,312)

Total assets less current liabilities
  
228,786
(20,653)

Creditors: amounts falling due after more than one year
  
(448,451)
-

  

Net liabilities
  
(219,665)
(20,653)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(219,765)
(20,753)

  
(219,665)
(20,653)


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 30 April 2024.
Page 2

 
FIRSTCARE DERBY LTD
REGISTERED NUMBER: 13203252

BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2023







Raza Ali
Director

The notes on pages 4 to 11 form part of these financial statements.
Page 3

 
FIRSTCARE DERBY LTD
 

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

1.


General information

Firstcare Derby Ltd is a company domiciled in England & Wales, registration number 13203252. 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

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 4

 
FIRSTCARE DERBY LTD
 

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

2.Accounting policies (continued)

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Page 5

 
FIRSTCARE DERBY LTD
 

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

2.Accounting policies (continued)

 
2.9

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of comprehensive income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Goodwill
-
5
years

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 6

 
FIRSTCARE DERBY LTD
 

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

2.Accounting policies (continued)

 
2.12

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.

 
2.13

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.

 
2.14

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.

 
2.15

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.


3.


Employees

The average monthly number of employees, including directors, during the period was 10 (2022 - 3).

Page 7

 
FIRSTCARE DERBY LTD
 

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

4.


Intangible assets




Goodwill

£



Cost


At 1 March 2022
266,238


Additions
758,390



At 30 April 2023

1,024,628



Amortisation


At 1 March 2022
53,579


Charge for the period on owned assets
204,595



At 30 April 2023

258,174



Net book value



At 30 April 2023
766,454



Page 8

 
FIRSTCARE DERBY LTD
 

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

5.


Tangible fixed assets







Fixtures and fittings

£



Cost or valuation


Additions
52,396



At 30 April 2023

52,396



Depreciation


Charge for the period on owned assets
13,099



At 30 April 2023

13,099



Net book value



At 30 April 2023
39,297



At 28 February 2022
-


6.


Debtors

30 April
28 February
2023
2022
£
£


Trade debtors
244,254
147,691

Other debtors
47,918
35,733

292,172
183,424



7.


Cash and cash equivalents

30 April
28 February
2023
2022
£
£

Cash at bank and in hand
5,833
36,666

Less: bank overdrafts
(50,903)
-

(45,070)
36,666


Page 9

 
FIRSTCARE DERBY LTD
 

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

8.


Creditors: Amounts falling due within one year

30 April
28 February
2023
2022
£
£

Bank overdrafts
50,903
-

Trade creditors
163,362
77,429

Amounts owed to group undertakings
538,599
348,601

Corporation tax
456
7,700

Other taxation and social security
1,097
600

Other creditors
32,659
3,345

Accruals and deferred income
132,894
55,728

919,970
493,403



9.


Creditors: Amounts falling due after more than one year

30 April
28 February
2023
2022
£
£

Bank loans
448,451
-

448,451
-



10.


Loans


Analysis of the maturity of loans is given below:


30 April
28 February
2023
2022
£
£




Amounts falling due after more than 5 years

Bank loans
448,451
-

448,451
-

448,451
-


During the year the company took out bank loans totalling £456,700 with Lloyds Bank PLC. The loans
are on a capital repyament basis with interest being fixed at 2.71% plus The Bank of England base rate which currently stands at 4.25%. The bank loans are repayable to Lloyds Bank PLC after a period of 15 years. A first ranking standard security has been granted in favour ofLloyds Bank PLC over the land and building of the property with which the loan is secured against.

Page 10

 
FIRSTCARE DERBY LTD
 

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

11.


Financial instruments

30 April
28 February
2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
5,833
36,666




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


12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held
separately from those of the Company in an independently administered fund. The pension cost charge
represents contributions payable by the Company to the fund and amounted to £2,047 
(2022:  £836).


13.


Related party transactions

During the period Tajali Ltd (the parent company) loaned the company £89,999 (2022: £62,501). At the balance sheet date other creditors included £152,500 (2022: £62,501) as amounts owed to Tajali Ltd.
During the period Firstcare (UK) Ltd (a fellow subsidiary) loaned the company £99,999 
(2022: £286,100). At the balance sheet date other creditors included £386,099 (2022: £286,100) as amounts owed to Firstcare (UK) Ltd.
During the period the director loaned the company £26,278 
(2022: NIL). At the balance sheet date other creditors included £26,278 (2022: NIL) as amounts owed to the director. 


14.


Controlling party

The company is ultimately controlled by the director Mr R Ali.

Page 11