Firststep Care Limited 31/03/2025 iXBRL

Company registration number: 06701612

Firststep Care Limited

Unaudited filleted financial statements

31 March 2025

Firststep Care Limited

Contents

Statement of financial position

Notes to the financial statements

Firststep Care Limited

Statement of financial position

31 March 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Intangible assets	5	1		1
Tangible assets	6	60,314		92,098
		_______		_______
			60,315		92,099

Current assets
Stocks		123,081		122,721
Debtors	7	449,000		423,813
Cash at bank and in hand		116,526		94,248
		_______		_______
		688,607		640,782
Creditors: amounts falling due
within one year	8	( 308,419)		( 244,186)
		_______		_______
Net current assets			380,188		396,596
			_______		_______
Total assets less current liabilities			440,503		488,695

Creditors: amounts falling due
after more than one year	9		( 99,735)		( 134,619)

Provisions for liabilities			( 12,428)		( 28,772)

			_______		_______
Net assets			328,340		325,304
			_______		_______

Capital and reserves
Called up share capital			60,000		60,000
Profit and loss account			268,340		265,304
			_______		_______
Shareholder funds			328,340		325,304
			_______		_______

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 09 October 2025 , and are signed on behalf of the board by:

Jusmin Chandaria

Director

Company registration number: 06701612

Firststep Care Limited

Notes to the financial statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Scottish Provident House, 3rd Floor, 76 - 80 College Road, Harrow, Middlesex, HA1 1BQ. The principal activity of the company is that of dispensing chemists.

2. Statement of compliance

These financial statements have been prepared in compliance with the provision of FRS 102, section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland, and Companies Act 2006 (as applicable to companies subject to the small companies regime).

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

In accordance with his responsibility as a director, the director has considered the appropriateness of the going concern basis for the preparation of the financial statements.The director at the time of approving the financial statements, has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. In reaching this conclusion, the director has considered the financial position of the company's cash and liquidity position.The going concern basis of accounting has therefore continued to be adopted in preparing the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Goodwill

Acquired goodwill arising on acquisitions is capitalised, classified as an asset on the balance sheet and amortised over its estimated useful life up to a maximum of 10 years. The length of time is presumed to be the maximum useful life of acquired goodwill because it is difficult to make projections beyond this period. The acquired goodwill amortisation is calculated so as to write off the cost of goodwill, less its residual value, estimated to be zero, in equal annual instalments over its estimated useful economic life of 10 years.

Tangible assets

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Fittings fixtures and equipment	-	Over 7 years
Motor vehicles	-	25 %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

The stock is valued by a professional valuer, using the selling price discounted by the expected margin to estimate the actual cost.

Hire purchase and finance leases

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution pensions

Contributions to defined contribution plans are expensed in the period to which they relate.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 11 (2024: 10 ).

5. Intangible assets

	Goodwill	Total
	£	£
Cost
At 1 April 2024 and 31 March 2025	586,495	586,495
	_______	_______
Amortisation
At 1 April 2024 and 31 March 2025	586,494	586,494
	_______	_______
Carrying amount
At 31 March 2025	1	1
	_______	_______
At 31 March 2024	1	1
	_______	_______

6. Tangible assets

	Long leasehold property	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£	£
Cost
At 1 April 2024	19,347	195,661	44,840	259,848
Additions	-	2,388	-	2,388
	_______	_______	_______	_______
At 31 March 2025	19,347	198,049	44,840	262,236
	_______	_______	_______	_______
Depreciation
At 1 April 2024	7,454	137,525	22,771	167,750
Charge for the year	1,290	27,365	5,517	34,172
	_______	_______	_______	_______
At 31 March 2025	8,744	164,890	28,288	201,922
	_______	_______	_______	_______
Carrying amount
At 31 March 2025	10,603	33,159	16,552	60,314
	_______	_______	_______	_______
At 31 March 2024	11,893	58,136	22,069	92,098
	_______	_______	_______	_______

7. Debtors

	2025	2024
	£	£
Trade debtors	106,321	92,033
Other debtors	342,679	331,780
	_______	_______
	449,000	423,813
	_______	_______

Other debtors include a loan owed by a connected company amounting to £281,791 (2024 - £272,108) which is unsecured, bears interest at commercial rate and repayable on demand. Other debtors also includes a loan owed by another connected company amounting £8,000 (2024 - £Nil) which is unsecured, interest free and repayable on demand.

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts (Note 9.)	34,776	31,735
Trade creditors	183,111	148,020
Corporation tax	41,980	29,282
Social security and other taxes	6,756	4,464
Other creditors	41,796	30,685
	_______	_______
	308,419	244,186
	_______	_______

9. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	99,735	134,619
	_______	_______

The bank overdraft facility and loans are fully secured by a legal charge over the company's leasehold premises including the pharmacy license. Included within creditors: amounts falling due after more than one year is an amount of £99,735 (2024 : £134,619 ) in respect of liablities repayable by instalments which fall due for payment within five years from the reporting date. This balance is repayable in August 2028 and is at market rate of interest.

10. Operating leases

The company as lessee

The total future minimum lease payments under non-cancellable operating leases are as follows:


	£	£

Not later than 1 year	36,940	34,000
Later than 1 year and not later than 5 years	136,990	136,000
Later than 5 years	109,545	143,545
	_______	_______
	283,475	313,545
	_______	_______