Acorah Software Products - Accounts Production 15.0.600 false true 31 May 2023 1 June 2022 false 1 June 2023 31 March 2024 31 March 2024 08248359 MR ALEXANDER FRASER MRS SUZANNE FRASER Mr JOHN SMYLY Mrs CLAIRE SMYLY MRS SUZANNE FRASER iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08248359 2023-05-31 08248359 2024-03-31 08248359 2023-06-01 2024-03-31 08248359 frs-core:CurrentFinancialInstruments 2024-03-31 08248359 frs-core:NetGoodwill 2024-03-31 08248359 frs-core:NetGoodwill 2023-06-01 2024-03-31 08248359 frs-core:NetGoodwill 2023-05-31 08248359 frs-core:MotorVehicles 2024-03-31 08248359 frs-core:MotorVehicles 2023-06-01 2024-03-31 08248359 frs-core:MotorVehicles 2023-05-31 08248359 frs-core:PlantMachinery 2024-03-31 08248359 frs-core:PlantMachinery 2023-06-01 2024-03-31 08248359 frs-core:PlantMachinery 2023-05-31 08248359 frs-core:ShareCapital 2024-03-31 08248359 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 08248359 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-03-31 08248359 frs-bus:FilletedAccounts 2023-06-01 2024-03-31 08248359 frs-bus:SmallEntities 2023-06-01 2024-03-31 08248359 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-03-31 08248359 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-03-31 08248359 frs-bus:Director1 2023-06-01 2024-03-31 08248359 frs-bus:Director2 2023-06-01 2024-03-31 08248359 frs-bus:Director3 2023-06-01 2024-03-31 08248359 frs-bus:Director4 2023-06-01 2024-03-31 08248359 frs-bus:CompanySecretary1 2023-06-01 2024-03-31 08248359 frs-core:CurrentFinancialInstruments 1 2024-03-31 08248359 frs-countries:EnglandWales 2023-06-01 2024-03-31 08248359 2022-05-31 08248359 2023-05-31 08248359 2022-06-01 2023-05-31 08248359 frs-core:CurrentFinancialInstruments 2023-05-31 08248359 frs-core:ShareCapital 2023-05-31 08248359 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31 08248359 frs-core:CurrentFinancialInstruments 1 2023-05-31 08248359 frs-core:CurrentFinancialInstruments 3 2023-05-31
Registered number: 08248359
FIRST CARE AMBULANCE LIMITED
Unaudited Financial Statements
For the Period 1 June 2023 to 31 March 2024
PATRICK JAMES AND CO (SW) LTD
CPAA
THE OLD VICARAGE
64 EXMOUTH ROAD
PLYMOUTH
DEVON
PL1 4QJ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08248359
31 March 2024 31 May 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 68,250 94,500
Tangible Assets 5 128,998 82,462
197,248 176,962
CURRENT ASSETS
Debtors 6 425,568 347,884
Cash at bank and in hand 2,193,828 685,840
2,619,396 1,033,724
Creditors: Amounts Falling Due Within One Year 7 (767,649 ) (648,249 )
NET CURRENT ASSETS (LIABILITIES) 1,851,747 385,475
TOTAL ASSETS LESS CURRENT LIABILITIES 2,048,995 562,437
PROVISIONS FOR LIABILITIES
Provisions For Charges (95,000 ) -
NET ASSETS 1,953,995 562,437
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 1,953,895 562,337
SHAREHOLDERS' FUNDS 1,953,995 562,437
Page 1
Page 2
For the period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
MR ALEXANDER FRASER
Director
08/07/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
FIRST CARE AMBULANCE LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 08248359 . The registered office is Ingleside, Brentor, Tavistock, DEVON, PL19 0NG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
VAT - since it's inception the Company has been in dispute with H M Customs and Excise regarding the vat status of it's work. Following recent Tax Tribunal proceedings the VAT Office has agreed much of the Company's Income is attributable to zero rated transport Services and thus input vat previously incurred will be reclaimable. Dispute continues with the VAT Office regarding the correct VAT status of some of the Company work and the final VAT refund cannot yet be quantified. Since the input vat concerned has always been separately identified in the accounts and claimed as part of the business expenses, the eventual VAT refunds will also give rise to additional Corporation tax charges.Since the correct sums cannot be calcuated at present, the Accounts do not show any provisions for this Debtor or Creditor.
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3. Average Number of Employees
Average number of employees, including directors, during the period was: 193 (2023: 187)
193 187
4. Intangible Assets
Goodwill
£
Cost
As at 1 June 2023 315,000
As at 31 March 2024 315,000
Amortisation
As at 1 June 2023 220,500
Provided during the period 26,250
As at 31 March 2024 246,750
Net Book Value
As at 31 March 2024 68,250
As at 1 June 2023 94,500
5. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 June 2023 27,589 240,642 268,231
Additions 125 81,103 81,228
Disposals - (34,100 ) (34,100 )
As at 31 March 2024 27,714 287,645 315,359
Depreciation
As at 1 June 2023 13,315 172,454 185,769
Provided during the period 2,977 23,466 26,443
Disposals - (25,851 ) (25,851 )
As at 31 March 2024 16,292 170,069 186,361
Net Book Value
As at 31 March 2024 11,422 117,576 128,998
As at 1 June 2023 14,274 68,188 82,462
6. Debtors
31 March 2024 31 May 2023
£ £
Due within one year
Trade debtors 200,276 236,275
Other debtors 222,364 102,956
Staff loans 2,928 2,668
CT Refund for Previous Year - 5,985
425,568 347,884
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
31 March 2024 31 May 2023
£ £
Trade creditors 139,615 74,391
Other loans 420 -
Tax and Social Security 534,159 321,229
Other creditors 63,125 252,429
Accruals and deferred income 30,330 -
Directors' loan accounts - 200
767,649 648,249
8. Share Capital
31 March 2024 31 May 2023
£ £
Allotted, Called up and fully paid 100 100
9. Dividends
31 March 2024 31 May 2023
£ £
On equity shares:
Final dividend paid - 1,500,000
Page 5