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REGISTERED NUMBER: 03801323 (England and Wales)















Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 30 April 2024

for

First City Nursing Services Ltd

First City Nursing Services Ltd (Registered number: 03801323)






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




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Income Statement 9

Other Comprehensive Income 10

Balance Sheet 11

Statement of Changes in Equity 12

Cash Flow Statement 13

Notes to the Cash Flow Statement 14

Notes to the Financial Statements 15


First City Nursing Services Ltd

Company Information
for the Year Ended 30 April 2024







DIRECTORS: S J Trowbridge
L Trowbridge





REGISTERED OFFICE: First City House
Cheney Manor Industrial Estate
Swindon
Wiltshire
SN2 2QG





REGISTERED NUMBER: 03801323 (England and Wales)





AUDITORS: Morley & Co (UK) Ltd
Statutory Auditor, Chartered Certified Accountants
2 Cricklade Court
Old Town
Swindon
Wiltshire
SN1 3EY

First City Nursing Services Ltd (Registered number: 03801323)

Strategic Report
for the Year Ended 30 April 2024

The directors present their strategic report for the year ended 30 April 2024.

REVIEW OF BUSINESS
The principal interests of the company during the period were to provide domiciliary healthcare services as well as agency services to healthcare establishments. During the period the company has continued to work systemwide in partnership with statutory bodies and in particular local authorities and clinical commissioning groups. The company has continued its role as key systemwide partner within the local health and care ecosystem, including helping to facilitate discharges into the community care sector.

The directors are satisfied with the performance of the company in the 12-month period ended 30 April 2024. This performance has been despite a very challenging environment to the sector, the company and its employees.

PRINCIPAL RISKS AND UNCERTAINTIES
The board along with the management team monitor key risks that the company faces on a continual basis.

The principal risks facing the company relate to the ongoing funding pressures within the adult social care sector, particularly concerning NHS and local authority funding allocations. The sector's sustainability is significantly impacted by inadequate annual funding uplifts to address unavoidable cost increases, including those mandated by the government and driven by inflation. Unlike other sectors, healthcare providers have limited ability to pass on these cost increases to consumers.

Recruitment and retention of healthcare professionals pose significant challenges due to competitive pressures within the labour market.

The company remains at the forefront of innovation within the adult care sector. First City is actively exploring the applications and benefits of Artificial Intelligence. The company is well positioned to thrive in the evolving integrated care systems that will shape the future of the sector.

ON BEHALF OF THE BOARD:





S J Trowbridge - Director


29 January 2025

First City Nursing Services Ltd (Registered number: 03801323)

Report of the Directors
for the Year Ended 30 April 2024

The directors present their report with the financial statements of the company for the year ended 30 April 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the provision healthcare services.

DIVIDENDS
The total distribution of dividends for the year ended 30 April 2024 will be £614,812.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 May 2023 to the date of this report.

S J Trowbridge
L Trowbridge

POLITICAL DONATIONS AND EXPENDITURE
There have been no political donations made in the current or prior year.

GOING CONCERN
The directors have prepared forecast information which takes into account the current economic climate and its potential impact on the business. The directors are satisfied that the company has adequate financial resources and facilities, together with long-standing relationships with a number of customers and suppliers, which will enable the company to meet the challenges posed by the current situation. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.

ENGAGEMENT WITH EMPLOYEES
The directors promote a company policy of giving full and fair consideration to applications for employment made by disabled persons. Specific training and career development are considered in line with the needs of all employees of the company.

The necessity for, and importance of, good communication with all employees is well recognised and accepted by the directors. For many years, regular meetings with employees' representatives have been held to keep them informed of developments and to receive their suggestions on various matters including health and safety.

The Company recognises the valuable contribution made by its employees to the success of the business. Employees are kept informed of the activities of the Company at regular staff liaison meetings. Staff are encouraged to discuss matters directly with management or bring matters to their attention at the staff liaison meeting. The Company always considers matters relating to employment fairly irrespective of race, age, sex, disability, religious beliefs or sexual orientation. The Company supports the ongoing training and development of its staff.


First City Nursing Services Ltd (Registered number: 03801323)

Report of the Directors
for the Year Ended 30 April 2024

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Morley & Co (UK) Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





S J Trowbridge - Director


29 January 2025

Report of the Independent Auditors to the Members of
First City Nursing Services Ltd

Opinion
We have audited the financial statements of First City Nursing Services Ltd (the 'company') for the year ended 30 April 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 April 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Report of the Independent Auditors to the Members of
First City Nursing Services Ltd


Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
First City Nursing Services Ltd


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

In identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

a. The nature of the industry and sector, control environment and business performance including the design of the company's remuneration policies, key drivers for directors' remuneration, bonus levels and performance targets;

b. Enquiring of management, including obtaining and reviewing supporting documentation, concerning the company's policies and procedures relating to:

b.i. Identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;

b.ii. Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;

b.iii. The internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations.

b.iv. Obtaining an understanding of the legal and regulatory frameworks that the company operates in, focusing on those laws and regulations that had a direct effect on the financial statements, such as provisions of the UK Companies Act, pensions legislation and tax legislation or that had a fundamental effect on the operations of the company, General Data Protection requirements and Anti-bribery and corruption policy.

In common with all audits under ISAs (UK), we are required to perform specific procedures to respond to the risk of management override. Our procedures to respond to risks identified included the following:

a. Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;

b. Enquiring of management and external legal counsel concerning actual and potential litigation and claims;

c. Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; and

d. Reading minutes of meetings of those charged with governance and correspondence with regulators.


Report of the Independent Auditors to the Members of
First City Nursing Services Ltd

In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Paul King FCCA (Senior Statutory Auditor)
for and on behalf of Morley & Co (UK) Ltd
Statutory Auditor, Chartered Certified Accountants
2 Cricklade Court
Old Town
Swindon
Wiltshire
SN1 3EY

29 January 2025

First City Nursing Services Ltd (Registered number: 03801323)

Income Statement
for the Year Ended 30 April 2024

2024 2023
Notes £    £   

TURNOVER 23,961,118 19,471,509

Cost of sales 19,447,862 15,596,807
GROSS PROFIT 4,513,256 3,874,702

Administrative expenses 3,022,910 2,942,857
1,490,346 931,845

Other operating income 28,836 583,765
OPERATING PROFIT and
PROFIT BEFORE TAXATION 1,519,182 1,515,610

Tax on profit 6 836,428 286,483
PROFIT FOR THE FINANCIAL YEAR 682,754 1,229,127

First City Nursing Services Ltd (Registered number: 03801323)

Other Comprehensive Income
for the Year Ended 30 April 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 682,754 1,229,127


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

682,754

1,229,127

First City Nursing Services Ltd (Registered number: 03801323)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 8 800 6,933
Tangible assets 9 38,218 50,855
Investment property 10 530,189 530,189
569,207 587,977

CURRENT ASSETS
Debtors 11 4,203,074 4,245,972
Cash at bank and in hand 1,766,754 1,361,059
5,969,828 5,607,031
CREDITORS
Amounts falling due within one year 12 3,600,608 3,324,523
NET CURRENT ASSETS 2,369,220 2,282,508
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,938,427

2,870,485

CAPITAL AND RESERVES
Called up share capital 14 110 110
Retained earnings 15 2,938,317 2,870,375
SHAREHOLDERS' FUNDS 2,938,427 2,870,485

The financial statements were approved by the Board of Directors and authorised for issue on 29 January 2025 and were signed on its behalf by:





S J Trowbridge - Director


First City Nursing Services Ltd (Registered number: 03801323)

Statement of Changes in Equity
for the Year Ended 30 April 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 May 2022 110 2,201,291 2,201,401

Changes in equity
Dividends - (560,043 ) (560,043 )
Total comprehensive income - 1,229,127 1,229,127
Balance at 30 April 2023 110 2,870,375 2,870,485

Changes in equity
Dividends - (614,812 ) (614,812 )
Total comprehensive income - 682,754 682,754
Balance at 30 April 2024 110 2,938,317 2,938,427

First City Nursing Services Ltd (Registered number: 03801323)

Cash Flow Statement
for the Year Ended 30 April 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,832,684 566,638
Tax paid (717,312 ) (34,415 )
Government grants 28,476 69,626
Net cash from operating activities 1,143,848 601,849

Cash flows from investing activities
Purchase of intangible fixed assets - (2,400 )
Purchase of tangible fixed assets (16,090 ) (14,054 )
Net cash from investing activities (16,090 ) (16,454 )

Cash flows from financing activities
Inter-company new loans in year (77,251 ) (130,710 )
Amount withdrawn by directors (30,000 ) (10,000 )
Equity dividends paid (614,812 ) (560,043 )
Net cash from financing activities (722,063 ) (700,753 )

Increase/(decrease) in cash and cash equivalents 405,695 (115,358 )
Cash and cash equivalents at
beginning of year

2

1,361,059

1,476,417

Cash and cash equivalents at end of
year

2

1,766,754

1,361,059

First City Nursing Services Ltd (Registered number: 03801323)

Notes to the Cash Flow Statement
for the Year Ended 30 April 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2024 2023
£    £   
Profit before taxation 1,519,182 1,515,610
Depreciation charges 34,859 40,567
Government grants (28,476 ) (583,098 )
1,525,565 973,079
Increase in trade and other debtors (38,662 ) (684,419 )
Increase in trade and other creditors 345,781 277,978
Cash generated from operations 1,832,684 566,638

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 April 2024
30/4/24 1/5/23
£    £   
Cash and cash equivalents 1,766,754 1,361,059
Year ended 30 April 2023
30/4/23 1/5/22
£    £   
Cash and cash equivalents 1,361,059 1,476,417


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1/5/23 Cash flow At 30/4/24
£    £    £   
Net cash
Cash at bank and in hand 1,361,059 405,695 1,766,754
1,361,059 405,695 1,766,754
Total 1,361,059 405,695 1,766,754

First City Nursing Services Ltd (Registered number: 03801323)

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

1. STATUTORY INFORMATION

First City Nursing Services Ltd 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
Estimates and judgements are continually evaluated and are based on historical experience and other factor, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:
The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:

(i) Useful economic life of tangible assets
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.

First City Nursing Services Ltd (Registered number: 03801323)

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

2. ACCOUNTING POLICIES - continued

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

Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the balance sheet date, turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the balance sheet date. Where payments are received from customers in advance of services provided the amounts are recorded as deferred income and included as part of creditors due within one year.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost
Computer equipment - 33% on cost

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.


First City Nursing Services Ltd (Registered number: 03801323)

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

2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Basic financial instruments
Basic financial instruments, including trade and other receivables and payables, cash and bank balances, bank loans and loans to or from other group companies are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method.

Contingent liabilities
A contingent liability is either a possible but uncertain obligation or a present obligation that is not recognised because a transfer of economic benefits is not probable. A contingent liability also arises if a present obligation exists but the amount required to settle it cannot be reliably estimated.

Contingent liabilities are not recognised unless they have arisen in a business combination. They are disclosed unless the possibility of an outflow of resources is remote.

3. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 6,816,888 6,225,620
Social security costs 547,204 501,671
Other pension costs 370,709 183,115
7,734,801 6,910,406

The average number of employees during the year was as follows:
2024 2023

Employees 325 336

First City Nursing Services Ltd (Registered number: 03801323)

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

3. EMPLOYEES AND DIRECTORS - continued

2024 2023
£    £   
Directors' remuneration 12,570 12,570
Directors' pension contributions to money purchase schemes 162,646 5,377

4. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Depreciation - owned assets 28,727 33,771
Computer software amortisation 6,133 6,797

5. AUDITORS' REMUNERATION
2024 2023
£    £   
Fees payable to the company's auditors for the audit of the
company's financial statements

13,284

13,428

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 406,302 293,310
Earlier year under/(over) provision 431,364 -
Total current tax 837,666 293,310

Deferred tax (1,238 ) (6,827 )
Tax on profit 836,428 286,483

First City Nursing Services Ltd (Registered number: 03801323)

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

6. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 1,519,182 1,515,610
Profit multiplied by the standard rate of corporation tax in the UK of
25% (2023 - 25%)

379,796

378,903

Effects of:
Expenses not deductible for tax purposes 49,619 18,303
Depreciation in excess of capital allowances 1,238 2,272
Utilisation of tax losses (4,009 ) (6,150 )
Adjustments to tax charge in respect of previous periods 431,364 -
Pensions paid in current year, accrued in prior year (20,342 ) (17,158 )
Change in tax rate in year - (82,860 )
Deferred tax movement (1,238 ) (6,827 )
Total tax charge 836,428 286,483

7. DIVIDENDS
2024 2023
£    £   
Ordinary shares of £1 each
Interim 614,812 560,043

8. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 May 2023
and 30 April 2024 22,766
AMORTISATION
At 1 May 2023 15,833
Amortisation for year 6,133
At 30 April 2024 21,966
NET BOOK VALUE
At 30 April 2024 800
At 30 April 2023 6,933

First City Nursing Services Ltd (Registered number: 03801323)

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

9. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 May 2023 76,803 181,355 183,031 441,189
Additions 5,850 - 10,240 16,090
At 30 April 2024 82,653 181,355 193,271 457,279
DEPRECIATION
At 1 May 2023 75,313 149,229 165,792 390,334
Charge for year 2,660 10,591 15,476 28,727
At 30 April 2024 77,973 159,820 181,268 419,061
NET BOOK VALUE
At 30 April 2024 4,680 21,535 12,003 38,218
At 30 April 2023 1,490 32,126 17,239 50,855

10. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 530,189
NET BOOK VALUE
At 30 April 2024 530,189
At 30 April 2023 530,189

11. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 1,979,101 2,115,935
Amounts owed by group undertakings 21,286 21,286
Other debtors 43,241 11,580
Directors' current accounts 95,043 65,043
Tax - 190,272
Prepayments and accrued income 703,715 559,880
2,842,386 2,963,996

First City Nursing Services Ltd (Registered number: 03801323)

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

11. DEBTORS - continued
2024 2023
£    £   
Amounts falling due after more than one year:
Amounts owed by group undertakings 1,340,139 1,262,665
Deferred tax asset 20,549 19,311
1,360,688 1,281,976

Aggregate amounts 4,203,074 4,245,972

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 2,167,436 1,938,062
Amounts owed to group undertakings 10,447 10,225
Tax 221,063 290,981
Social security and other taxes 58,670 110,900
VAT 207 790
Other creditors 141,750 182,601
Accruals and deferred income 1,001,035 790,964
3,600,608 3,324,523

13. DEFERRED TAX
£   
Balance at 1 May 2023 (19,311 )
Credit to Income Statement during year (1,238 )
Balance at 30 April 2024 (20,549 )

14. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
110 Ordinary £1 110 110

First City Nursing Services Ltd (Registered number: 03801323)

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

15. RESERVES
Retained
earnings
£   

At 1 May 2023 2,870,375
Profit for the year 682,754
Dividends (614,812 )
At 30 April 2024 2,938,317

16. CONTINGENT LIABILITIES

Bank loans
The company has provided a guarantee of £1,100,000 to National Westminster Bank PLC in respect of a loan owed by the subsidiary, First City Healthcare Ltd. This guarantee has been enacted by a fixed and floating charge over all of the company's assets.

The balance on the loan in First City Healthcare Ltd at 30th April 2024 was £661,717.

17. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
S J Trowbridge
Balance outstanding at start of year 65,043 55,043
Amounts advanced 80,043 289,324
Amounts repaid (50,043 ) (279,324 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 95,043 65,043

This loan is reported on the Director's P11D as a beneficial loan arrangement.

First City Nursing Services Ltd (Registered number: 03801323)

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

18. RELATED PARTY DISCLOSURES

Transactions entered into, and trading balances outstanding at 30 April 2024, are as follows:

Total
£
Sales to related parties with common control 33,114
Purchases from related parties with common control -
Related parties with common control included in debtors 56,545
Related parties with common control included in creditors -

Terms and conditions of transactions with related parties
Sales and purchases are made at normal market prices. Outstanding balances are unsecured, interest free and cash settlement is expected under normal trading terms.

The company has provided a guarantee of £1,100,000 to National Westminster Bank PLC in respect of a loan owed by the subsidiary, First City Healthcare Ltd. This guarantee has been enacted by a fixed and floating charge over all of the company's assets.

The balance on the loan in First City Healthcare Ltd at 30th April 2024 was £661,717.

19. ULTIMATE CONTROLLING PARTY

The company is under the control of Stephen Trowbridge.

The ultimate parent company is First City Nursing & Care Limited, a company incorporated in England and Wales. Accounts are available from Companies House, Crown Way, Cardiff, CF14 3UZ.