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REGISTERED NUMBER: 09883754 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Care First (Developments) Limited

Care First (Developments) Limited (Registered number: 09883754)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Care First (Developments) Limited

Company Information
for the Year Ended 30 April 2024







DIRECTOR: M Verma





REGISTERED OFFICE: 361-365 Moseley Road
Balsall Heath
Birmingham
West Midlands
B12 9DE





REGISTERED NUMBER: 09883754 (England and Wales)





ACCOUNTANTS: Concept Accountancy Services Ltd
89a Dudley Road
Halesowen
West Midlands
B63 3NS

Care First (Developments) Limited (Registered number: 09883754)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,344,222 621,268

CURRENT ASSETS
Debtors 5 139,695 137,886
Cash at bank 3,182 19,065
142,877 156,951
CREDITORS
Amounts falling due within one year 6 724,422 387,236
NET CURRENT LIABILITIES (581,545 ) (230,285 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

762,677

390,983

CREDITORS
Amounts falling due after more than one
year

7

821,246

408,627
NET LIABILITIES (58,569 ) (17,644 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (58,669 ) (17,744 )
SHAREHOLDERS' FUNDS (58,569 ) (17,644 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Care First (Developments) Limited (Registered number: 09883754)

Balance Sheet - continued
30 April 2024


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 director and authorised for issue on 16 January 2025 and were signed by:





M Verma - Director


Care First (Developments) Limited (Registered number: 09883754)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Care First (Developments) 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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary Amounts in these financial statements are rounded to the nearest £.

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

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

Care First (Developments) Limited (Registered number: 09883754)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023 621,268
Additions 722,954
At 30 April 2024 1,344,222
NET BOOK VALUE
At 30 April 2024 1,344,222
At 30 April 2023 621,268

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Other debtors 129,850 129,850
Other debtors 7,820 7,820
Prepayments 2,025 216
139,695 137,886

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts (see note 8) 4,785 4,594
Other creditors 12,714 -
Amount due to associated
companies 256,319 76,632
Other creditors 151,700 154,700
Directors' loan accounts 297,454 150,399
Accrued expenses 1,450 911
724,422 387,236

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans (see note 8) 821,246 408,627

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 802,106 390,250

Care First (Developments) Limited (Registered number: 09883754)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

8. LOANS

An analysis of the maturity of loans is given below:

30.4.24 30.4.23
£    £   
Amounts falling due within one year or on demand:
Bank loan account 4,785 4,594

Amounts falling due between two and five years:
Bank loans - 2-5 years 19,140 18,377

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 802,106 390,250

9. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Company Loan 151,700 154,700

The Company has a loan of £151,700 (2023: £154,700) from the family trust, which is secured by a debenture over the assets of the company.

Paragon Bank PLC hold debentures over the company dated 26 September 2019 and 24 April 2023, containing a fixed and floating charge over all the property or undertaking of the company.

OneSavings Bank Plc hold a legal charge dated 16 June 2021, containing a fixed charge and security over the freehold land and buildings at 16 Tiverton Road, Selly Oak, Birmingham.

10. RELATED PARTY DISCLOSURES

Other creditors at 30 April 2024 included £66,797 due to Care First (UK) Ltd (2023: £66,797) and £189,522 due to Care First (Smethwick) Ltd (2023: £9,835).

M Verma is a director and shareholder of both Care First (UK) Ltd and Care First (Smethwick) Ltd.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M Verma.