ACCOUNTS - Final Accounts preparation

FIRSTCARE DERBY LTD - Company Information

Caseware UK (AP4) 2021.0.152 2021.0.152 2022-02-282022-02-28true2021-02-163falsePharmacytrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13203252 2021-02-15 13203252 2021-02-16 2022-02-28 13203252 2020-02-16 2021-02-15 13203252 2022-02-28 13203252 c:Director1 2021-02-16 2022-02-28 13203252 d:Goodwill 2021-02-16 2022-02-28 13203252 d:Goodwill 2022-02-28 13203252 d:CurrentFinancialInstruments 2022-02-28 13203252 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 13203252 d:ShareCapital 2022-02-28 13203252 d:RetainedEarningsAccumulatedLosses 2022-02-28 13203252 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-02-28 13203252 c:FRS102 2021-02-16 2022-02-28 13203252 c:AuditExemptWithAccountantsReport 2021-02-16 2022-02-28 13203252 c:FullAccounts 2021-02-16 2022-02-28 13203252 c:PrivateLimitedCompanyLtd 2021-02-16 2022-02-28 13203252 d:Goodwill d:ExternallyAcquiredIntangibleAssets 2021-02-16 2022-02-28 13203252 d:Goodwill d:OwnedIntangibleAssets 2021-02-16 2022-02-28 iso4217:GBP xbrli:pure

Registered number: 13203252

FIRSTCARE DERBY LTD

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 28 FEBRUARY 2022

FIRSTCARE DERBY LTD

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OFFIRSTCARE DERBY LTD
FOR THE PERIOD ENDED 28 FEBRUARY 2022

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Firstcare Derby Ltd for the period ended 28 February 2022 which comprise the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given to us.

This report is made solely to the director of Firstcare Derby Ltd in accordance with the terms of our agreement. Our work has been undertaken solely to prepare for your approval the financial statements of Firstcare Derby Ltd and state those matters that we have agreed to state to him in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Firstcare Derby Ltd and its director for our work or for this report.

It is your duty to ensure that Firstcare Derby Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the Company's assets, liabilities, financial position and loss. You consider that Firstcare Derby Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or review of the financial statements of Firstcare Derby Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Shipleys Tax Planning

30 March 2023

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FIRSTCARE DERBY LTD

REGISTERED NUMBER: 13203252

BALANCE SHEET

AS AT 28 FEBRUARY 2022

		2022
Note		£

Fixed assets
Intangible assets	4		212,659
			212,659
Current assets
Stocks		40,000
Debtors: amounts falling due within one year	5	183,425
Cash at bank and in hand	6	36,666
		260,091
Creditors: amounts falling due within one year	7	(493,403)
Net current (liabilities)/assets			(233,312)
Total assets less current liabilities			(20,653)

Net (liabilities)/assets			(20,653)

Capital and reserves
Called up share capital			100
Profit and loss account			(20,753)
			(20,653)

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 March 2023.

Raza Ali

Director

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FIRSTCARE DERBY LTD

REGISTERED NUMBER: 13203252

BALANCE SHEET (CONTINUED)

AS AT 28 FEBRUARY 2022

The notes on pages 4 to 8 form part of these financial statements.

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FIRSTCARE DERBY LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 28 FEBRUARY 2022

1.	General information

Firstcare Derby Ltd is a company domiciled in England & Wales, registration number 13203252. The
registered office is 8 Norman Avenue, Sunnyhill, Derby, DE23 1HL.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

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FIRSTCARE DERBY LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 28 FEBRUARY 2022

2.Accounting policies (continued)

2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

2.6

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of comprehensive income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

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FIRSTCARE DERBY LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 28 FEBRUARY 2022

2.Accounting policies (continued)

2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.11

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

Employees

The average monthly number of employees, including directors, during the period was 3.

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FIRSTCARE DERBY LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 28 FEBRUARY 2022

4.	Intangible assets

		Goodwill
		£
	Cost
	Additions	266,238
	At 28 February 2022	266,238
	Amortisation
	Charge for the period on owned assets	53,579
	At 28 February 2022	53,579
	Net book value
	At 28 February 2022	212,659

Debtors

					2022
					£


	Trade debtors	147,692
	Other debtors	35,733
		183,425

6.	Cash and cash equivalents
		2022
		£

	Cash at bank and in hand	36,666
		36,666

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FIRSTCARE DERBY LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 28 FEBRUARY 2022

7.	Creditors: Amounts falling due within one year
		2022
		£

	Trade creditors	77,429
	Corporation tax	7,700
	Other taxation and social security	600
	Other creditors	351,946
	Accruals and deferred income	55,728
		493,403

8.	Financial instruments
		2022
		£

	Financial assets
	Financial assets measured at fair value through profit or loss	36,666

Financial assets measured at fair value through profit or loss comprise of cash at bank and in hand.

9.	Pension commitments

10.	Related party transactions
	During the year Tajali Ltd (the parent company) loaned the company £62,501. At the balance sheet date other creditors included £62,501 as amounts owed to Tajali Ltd. During the year Firstcare (UK) Ltd (a fellow subsidiary ) loaned the company £286,100. At the balance sheet date other creditors included £286,100 as amounts owed to Firstcare (UK) Ltd.

11.	Controlling party

The company is ultimately controlled by the director Mr R Ali.

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