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Company No: SC549627 (Scotland)

1ST FOCUS HOMECARE LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH THE REGISTRAR

1ST FOCUS HOMECARE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024

Contents

1ST FOCUS HOMECARE LIMITED

BALANCE SHEET

AS AT 31 MARCH 2024
1ST FOCUS HOMECARE LIMITED

BALANCE SHEET (continued)

AS AT 31 MARCH 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 16,324 18,975
16,324 18,975
Current assets
Debtors 4 241,861 115,086
Cash at bank and in hand 19,478 95,727
261,339 210,813
Creditors: amounts falling due within one year 5 ( 104,399) ( 47,882)
Net current assets 156,940 162,931
Total assets less current liabilities 173,264 181,906
Provision for liabilities ( 1,799) ( 3,763)
Net assets 171,465 178,143
Capital and reserves
Called-up share capital 6 1 1
Share premium account 50,000 50,000
Profit and loss account 121,464 128,142
Total shareholders' funds 171,465 178,143

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of 1st Focus Homecare Limited (registered number: SC549627) were approved and authorised for issue by the Director on 29 July 2024. They were signed on its behalf by:

S R Falconer
Director
1ST FOCUS HOMECARE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
1ST FOCUS HOMECARE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

1st Focus Homecare Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is C/O Johnston Carmichael LLP, 7-11 Melville Street, Edinburgh, EH3 7PE, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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 or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles 4 years straight line
Office equipment 4 years straight line
Computer equipment 4 years straight line

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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account (if any).

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets which include debtors and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 67 76

3. Tangible assets

Vehicles Office equipment Computer equipment Total
£ £ £ £
Cost
At 01 April 2023 64,654 3,509 6,542 74,705
Additions 9,822 0 5,749 15,571
Disposals ( 8,658) ( 3,145) ( 4,222) ( 16,025)
At 31 March 2024 65,818 364 8,069 74,251
Accumulated depreciation
At 01 April 2023 49,489 2,301 3,940 55,730
Charge for the financial year 14,818 565 1,603 16,986
Disposals ( 8,658) ( 2,593) ( 3,538) ( 14,789)
At 31 March 2024 55,649 273 2,005 57,927
Net book value
At 31 March 2024 10,169 91 6,064 16,324
At 31 March 2023 15,165 1,208 2,602 18,975

4. Debtors

2024 2023
£ £
Trade debtors 83,021 27,670
Amounts owed by related parties 65,680 61,486
Other debtors 93,160 25,930
241,861 115,086

Included within other debtors is a loan of £7,565 (2023 - £22,439) to the director of 1st Focus Homecare Limited. The loan is unsecured, interest is charged at 2.25% per annum and is repayable on demand.

Included within amounts owed by related parties is a loan of £65,680 (2023 - £61,486) to a related party. The loan is unsecured, interest is charged at the base rate of the Royal Bank of Scotland PLC which is accrued daily and is repayable on demand.

5. Creditors: amounts falling due within one year

2024 2023
£ £
Accruals 42,275 6,773
Taxation and social security 48,326 27,260
Other creditors 13,798 13,849
104,399 47,882

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 A ordinary shares of £ 0.01 each 1.00 1.00
11 B ordinary shares of £ 0.01 each 0.11 0.11
1.11 1.11

7. Financial commitments

Other financial commitments

2024 2023
£ £
Total commitments under non-cancellable operating leases not provided for in the accounts 19,955 0