1st Care Limited - Accounts to registrar (filleted) - small 18.2
1st Care Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2018 |
FOR |
1ST CARE LIMITED |
1ST CARE LIMITED (REGISTERED NUMBER: 04254989) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2018 |
Page |
Company Information | 1 |
Chartered Accountants' Report | 2 |
Balance Sheet | 3 |
Notes to the Financial Statements | 5 |
1ST CARE LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2018 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
505 Pinner Road |
Harrow |
Middlesex |
HA2 6EH |
BANKERS: |
Market Place |
Town Centre |
Leicester |
Leicestershire |
LE87 2BB |
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
1ST CARE LIMITED |
The following reproduces the text of the report prepared for the director in respect of the company's annual |
unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file |
a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the |
Report of the Director are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of 1st Care Limited for the year ended 31 March 2018 which comprise the Income Statement, Other |
Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's |
accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the director of 1st Care Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of 1st Care Limited and state those matters that we have agreed to state to the director of 1st Care Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than 1st Care Limited and its director for our work or for this report. |
It is your duty to ensure that 1st Care Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of 1st Care Limited. You consider that 1st Care Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of 1st Care Limited. 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. |
Chartered Accountants |
505 Pinner Road |
Harrow |
Middlesex |
HA2 6EH |
1ST CARE LIMITED (REGISTERED NUMBER: 04254989) |
BALANCE SHEET |
31 MARCH 2018 |
31/3/18 | 31/3/17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Stocks |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 12 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 13 |
Revaluation reserve | 14 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges her 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. |
1ST CARE LIMITED (REGISTERED NUMBER: 04254989) |
BALANCE SHEET - continued |
31 MARCH 2018 |
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 on |
1ST CARE LIMITED (REGISTERED NUMBER: 04254989) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2018 |
1. | STATUTORY INFORMATION |
1st Care Limited is a |
registered number and registered office address can be found on the Company Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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. |
Turnover |
Turnover represents the fee receivable for services provided. Turnover is recognised when the company has a |
right to consideration. |
Goodwill |
Tangible fixed assets |
Freehold property | - |
Fixtures and fittings | - |
Motor vehicles | - |
Stocks |
Stocks are measured at the lower of cost and selling price less cost to sell. Cost is calculated on a first in, first out |
basis and includes all costs of purchase, costs of conversion and other costs incurred in bringing the inventories |
to their present location and condition. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences which are differences between taxable profits and |
total comprehensive income that arise from the inclusion of income and expenses in tax assessments in periods |
different from those in which they are recognised in the financial statements. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element |
of the future payments is treated as a liability. |
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. |
1ST CARE LIMITED (REGISTERED NUMBER: 04254989) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2018 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 April 2017 |
and 31 March 2018 |
AMORTISATION |
At 1 April 2017 |
and 31 March 2018 |
NET BOOK VALUE |
At 31 March 2018 |
At 31 March 2017 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | and | Motor |
property | fittings | vehicles | Totals |
£ | £ | £ | £ |
COST OR VALUATION |
At 1 April 2017 |
Additions |
At 31 March 2018 |
DEPRECIATION |
At 1 April 2017 |
Charge for year |
At 31 March 2018 |
NET BOOK VALUE |
At 31 March 2018 |
At 31 March 2017 |
Cost or valuation at 31 March 2018 is represented by: |
Fixtures |
Freehold | and | Motor |
property | fittings | vehicles | Totals |
£ | £ | £ | £ |
Valuation in 2012 | 565,305 | - | - | 565,305 |
Cost | 1,899,421 | 796,717 | 41,250 | 2,737,388 |
2,464,726 | 796,717 | 41,250 | 3,302,693 |
1ST CARE LIMITED (REGISTERED NUMBER: 04254989) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2018 |
5. | TANGIBLE FIXED ASSETS - continued |
In the opinion of the director the open market value of the freehold properties as at 31 March 2018 are not |
significantly different to that stated above. |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Fixtures |
and | Motor |
fittings | vehicles | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 April 2017 |
and 31 March 2018 |
DEPRECIATION |
At 1 April 2017 |
Charge for year |
At 31 March 2018 |
NET BOOK VALUE |
At 31 March 2018 |
At 31 March 2017 |
6. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 April 2017 |
and 31 March 2018 |
NET BOOK VALUE |
At 31 March 2018 |
At 31 March 2017 |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: |
Nature of business: |
% |
Class of shares: | holding |
31/3/18 | 31/3/17 |
£ | £ |
Aggregate capital and reserves |
Profit for the year |
1ST CARE LIMITED (REGISTERED NUMBER: 04254989) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2018 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/3/18 | 31/3/17 |
£ | £ |
Trade debtors |
Amounts owed by connected company |
Other debtors |
Prepayments |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/3/18 | 31/3/17 |
£ | £ |
Bank loans and overdrafts (see note 10) |
Other loans (see note 10) |
Trade creditors |
Tax |
Social security and other taxes |
Other creditors |
Directors' current accounts | - | 25,732 |
Accrued expenses |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31/3/18 | 31/3/17 |
£ | £ |
Bank loans (see note 10) |
Other loans (see note 10) |
Hire purchase contracts |
10. | LOANS |
An analysis of the maturity of loans is given below: |
31/3/18 | 31/3/17 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
Other loans |
Amounts falling due between one and two years: |
Bank loans - 1-2 years |
1ST CARE LIMITED (REGISTERED NUMBER: 04254989) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2018 |
10. | LOANS - continued |
31/3/18 | 31/3/17 |
£ | £ |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
Other loans - 2-5 years |
11. | SECURED DEBTS |
The following secured debts are included within creditors: |
31/3/18 | 31/3/17 |
£ | £ |
Bank loans |
Other loans |
The bank loan is secured by a charge over the company's freehold properties and by personal guarantee from the |
director.The loan is repayable by equal instalments over 5 years maturing on 30 June 2018, with rate of interest |
3% above the base rate. The existing bank loan facility was renewed on 30th July 2018 for a period until 30th |
June 2023. |
12. | PROVISIONS FOR LIABILITIES |
31/3/18 | 31/3/17 |
£ | £ |
Deferred tax | 35,292 | 26,840 |
Deferred tax |
£ |
Balance at 1 April 2017 |
Movements | 8,452 |
Balance at 31 March 2018 |
13. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31/3/18 | 31/3/17 |
value: | £ | £ |
Ordinary | £1 | 351,000 | 351,000 |
14. | RESERVES |
Revaluation |
reserve |
£ |
At 1 April 2017 |
and 31 March 2018 |
1ST CARE LIMITED (REGISTERED NUMBER: 04254989) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2018 |
15. | RELATED PARTY DISCLOSURES |
During the year, the company paid dividends of £45,000 (2017 : £43,000) to the director. |
At the balance sheet date, the company was owed £460,644 (2017: £215,835) by New Green Solutions Limited, |
a company in which the director's spouse has a beneficial interest in.The amounts owed are repayable on |
demand. |
At the balance sheet date, the company was owed £3,240 (2017 : £3,240) by First 1 2 1 Care Limited, a |
company in which the director has a beneficial interest in..The amounts owed are repayable on demand. |
16. | ULTIMATE CONTROLLING PARTY |
The director is the ultimate controller by virtue of her shareholding in the company. |