1st Care Limited - Limited company accounts 22.3

1st Care Limited - Limited company accounts 22.3

1ST CARE LIMITED - Company Information

Print Friendly Version

IRIS Accounts Production v22.3.3.48 04254989 director 31.3.22 1.4.21 31.3.22 31.3.22 true true true false true true false false false false true true false Ordinary 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure042549892021-03-31042549892022-03-31042549892021-04-012022-03-31042549892020-03-31042549892020-04-012021-03-31042549892021-03-3104254989ns16:EnglandWales2021-04-012022-03-3104254989ns15:PoundSterling2021-04-012022-03-3104254989ns11:Director12021-04-012022-03-3104254989ns11:Consolidated2022-03-3104254989ns11:ConsolidatedGroupCompanyAccounts2021-04-012022-03-3104254989ns11:PrivateLimitedCompanyLtd2021-04-012022-03-3104254989ns11:FRS102ns11:Consolidated2021-04-012022-03-3104254989ns11:Auditedns11:Consolidated2021-04-012022-03-3104254989ns11:LargeMedium-sizedCompaniesRegimeForDirectorsReport2021-04-012022-03-3104254989ns11:LargeMedium-sizedCompaniesRegimeForAccounts2021-04-012022-03-3104254989ns11:Consolidatedns11:LargeMedium-sizedCompaniesRegimeForDirectorsReport2021-04-012022-03-3104254989ns11:LargeMedium-sizedCompaniesRegimeForAccountsns11:Consolidated2021-04-012022-03-3104254989ns11:FullAccounts2021-04-012022-03-3104254989ns6:Subsidiary12021-04-012022-03-310425498912021-04-012022-03-3104254989ns11:OrdinaryShareClass12021-04-012022-03-3104254989ns11:Consolidated2021-04-012022-03-3104254989ns11:CompanySecretary12021-04-012022-03-3104254989ns11:RegisteredOffice2021-04-012022-03-3104254989ns11:Consolidated2020-04-012021-03-3104254989ns6:CurrentFinancialInstruments2022-03-3104254989ns6:CurrentFinancialInstruments2021-03-3104254989ns6:Non-currentFinancialInstruments2022-03-3104254989ns6:Non-currentFinancialInstruments2021-03-3104254989ns6:ShareCapital2022-03-3104254989ns6:ShareCapital2021-03-3104254989ns6:RevaluationReserve2022-03-3104254989ns6:RevaluationReserve2021-03-3104254989ns6:RetainedEarningsAccumulatedLosses2022-03-3104254989ns6:RetainedEarningsAccumulatedLosses2021-03-3104254989ns6:ShareCapital2020-03-3104254989ns6:RetainedEarningsAccumulatedLosses2020-03-3104254989ns6:RevaluationReserve2020-03-3104254989ns6:RetainedEarningsAccumulatedLosses2020-04-012021-03-3104254989ns6:RevaluationReserve2020-04-012021-03-3104254989ns6:RetainedEarningsAccumulatedLosses2021-04-012022-03-3104254989ns6:RevaluationReserve2021-04-012022-03-3104254989ns6:NetGoodwill2021-04-012022-03-3104254989ns6:NetGoodwill2021-03-3104254989ns6:NetGoodwill2022-03-3104254989ns6:NetGoodwill2021-03-3104254989ns6:LandBuildings2021-03-3104254989ns6:FurnitureFittings2021-03-3104254989ns6:MotorVehicles2021-03-3104254989ns6:LandBuildings2021-04-012022-03-3104254989ns6:FurnitureFittings2021-04-012022-03-3104254989ns6:MotorVehicles2021-04-012022-03-3104254989ns6:LandBuildings2022-03-3104254989ns6:FurnitureFittings2022-03-3104254989ns6:MotorVehicles2022-03-3104254989ns6:LandBuildings2021-03-3104254989ns6:FurnitureFittings2021-03-3104254989ns6:MotorVehicles2021-03-3104254989ns6:FurnitureFittingsns6:LeasedAssetsHeldAsLessee2021-03-3104254989ns6:MotorVehiclesns6:LeasedAssetsHeldAsLessee2021-03-3104254989ns6:LeasedAssetsHeldAsLessee2021-03-3104254989ns6:FurnitureFittingsns6:LeasedAssetsHeldAsLessee2021-04-012022-03-3104254989ns6:MotorVehiclesns6:LeasedAssetsHeldAsLessee2021-04-012022-03-3104254989ns6:LeasedAssetsHeldAsLessee2021-04-012022-03-3104254989ns6:FurnitureFittingsns6:LeasedAssetsHeldAsLessee2022-03-3104254989ns6:MotorVehiclesns6:LeasedAssetsHeldAsLessee2022-03-3104254989ns6:LeasedAssetsHeldAsLessee2022-03-3104254989ns6:FurnitureFittingsns6:LeasedAssetsHeldAsLessee2021-03-3104254989ns6:MotorVehiclesns6:LeasedAssetsHeldAsLessee2021-03-3104254989ns6:LeasedAssetsHeldAsLessee2021-03-3104254989ns6:CostValuation2021-03-31042549891ns6:Subsidiary12021-04-012022-03-3104254989ns6:Subsidiary12022-03-3104254989ns6:Subsidiary12021-03-3104254989ns6:Subsidiary12020-04-012021-03-3104254989ns6:WithinOneYearns6:CurrentFinancialInstruments2022-03-3104254989ns6:WithinOneYearns6:CurrentFinancialInstruments2021-03-3104254989ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2022-03-3104254989ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2021-03-3104254989ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2022-03-3104254989ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2021-03-3104254989ns6:WithinOneYearns6:CurrentFinancialInstrumentsns6:HirePurchaseContracts2022-03-3104254989ns6:WithinOneYearns6:CurrentFinancialInstrumentsns6:HirePurchaseContracts2021-03-3104254989ns6:BetweenOneFiveYearsns6:HirePurchaseContracts2022-03-3104254989ns6:BetweenOneFiveYearsns6:HirePurchaseContracts2021-03-3104254989ns6:HirePurchaseContracts2022-03-3104254989ns6:HirePurchaseContracts2021-03-3104254989ns6:Secured2022-03-3104254989ns6:Secured2021-03-3104254989ns6:DeferredTaxation2021-03-3104254989ns6:DeferredTaxation2022-03-3104254989ns11:OrdinaryShareClass12022-03-3104254989ns6:RetainedEarningsAccumulatedLosses2021-03-3104254989ns6:RevaluationReserve2021-03-31
REGISTERED NUMBER: 04254989 (England and Wales)

















GROUP STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

FOR

1ST CARE LIMITED
1ST CARE LIMITED (REGISTERED NUMBER: 04254989)

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022










Page

Company Information 1

Group Strategic Report 2

Report of the Director 3

Report of the Independent Auditors 5

Consolidated Income Statement 9

Consolidated Other Comprehensive Income 10

Consolidated Balance Sheet 11

Company Balance Sheet 12

Consolidated Statement of Changes in Equity 13

Company Statement of Changes in Equity 14

Consolidated Cash Flow Statement 15

Notes to the Consolidated Cash Flow Statement 16

Notes to the Consolidated Financial Statements 18


1ST CARE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2022







DIRECTOR: Mrs Jagruti Patel



SECRETARY: Mr Subhash Mistry



REGISTERED OFFICE: 505 Pinner Road
Harrow
Middlesex
HA2 6EH



REGISTERED NUMBER: 04254989 (England and Wales)



AUDITORS: STGCA LLP t/a Sterling
Chartered Accountants
& Statutory Auditors
505 Pinner Road
Harrow
Middlesex
HA2 6EH



BANKERS: Barclays Bank Plc
Market Place
Town Centre
Leicester
Leicestershire
LE87 2BB
Page 1
1ST CARE LIMITED (REGISTERED NUMBER: 04254989)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2022


The director presents her strategic report of the company and the group for the year ended 31 March 2022.

REVIEW OF BUSINESS
During the year, the group managed care homes which can accommodate 112 residents.

Management is satisfied with the profits earned by the group during the year which helped the company to improve its cash position as well. The nursing homes have continued to achieve the occupancy rate in line with previous year.

PRINCIPAL RISKS AND UNCERTAINTIES
The principal risks and uncertainties facing the company relate to the current COVID-19 Pandemic which has brought an unprecedented challenge to the business. However, our management and staff have worked tirelessly to maintain stringent infection control measures quickly and effectively to provide the best possible care and protection to our residents.
Another risk facing the care home industry as a whole, is the reliance of agency staff to meet employment demands. The company aims to minimalize its use by ensuring the care home as sufficient staff available.

The director continually reviews risks and uncertainties throughout the period and believe that they have the management and system in place to deal with changing situations.

DEVELOPMENT AND PERFORMANCE
With substantial cash generations by the company, management invested in furniture and fixtures refurbishing the assets at the care Homes thus providing more comfort to the residents. There are plans for further investments in furniture and fixtures refurbishments to maintain a high standard of care in subsequent years.

The company earned net profit before tax of £1,274,962 (2021: £594,817) on revenue of £6,662,399 (2021: £5,101,519). Increased revenues contributed to higher gross profit margins in current year, which increased from 26% to 33%. As at 31 March 2022, the Company had net current assets of £2,125,395 (2021: £1,398,841) which are sufficient for the Company to fulfil its working capital requirements. Increase in debtor position in current year has helped improve net asset position of the company which stood at £5,582,891 (2021: £4,643,512) at year end.

KEY PERFORMANCE INDICATORS ('KPIS')
In the opinion of the director, key performance indicators of the Company include profit before interest and tax and net profit margin. Both performance indicators improved during the year mainly due to significant increase in other operating income. The key performance indicators are closely monitored by the director on regular basis.

ON BEHALF OF THE BOARD:





Mrs Jagruti Patel - Director


27 February 2023

Page 2
1ST CARE LIMITED (REGISTERED NUMBER: 04254989)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 31 MARCH 2022


The director presents her report with the financial statements of the company and the group for the year ended 31 March 2022.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of operating of nursing homes

DIVIDENDS
The total distribution of dividends for the year ended 31 March 2022 will be £54,000 (2021: £45,000)

DIRECTOR
Mrs Jagruti Patel held office during the whole of the period from 1 April 2021 to the date of this report.

POLITICAL DONATIONS AND EXPENDITURE
The group made charitable donations of £3,000 (2021: £nil) during the year.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Group Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless she is satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the director is 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 director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable her to ensure that the financial statements comply with the Companies Act 2006. She is also responsible for safeguarding the assets of the company and the group 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 director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and she has taken all the steps that she ought to have taken as a director in order to make herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

Page 3
1ST CARE LIMITED (REGISTERED NUMBER: 04254989)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 31 MARCH 2022


AUDITORS
The auditors, STGCA LLP t/a Sterling, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mrs Jagruti Patel - Director


27 February 2023

Page 4
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
1ST CARE LIMITED


Opinion
We have audited the financial statements of 1st Care Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2022 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated 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 group's and of the parent company affairs as at 31 March 2022 and of the group's 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 group 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 director's 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 group's and the parent 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 director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Director, 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.

Page 5
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
1ST CARE LIMITED


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 Group Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Director 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Director.

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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is 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 director determines 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 director is responsible for assessing the group's and the parent 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 director either intends to liquidate the group or the parent company or to cease operations, or has no realistic alternative but to do so.

Page 6
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
1ST CARE LIMITED


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:

Our approach to assessing the risk of material misstatement due to irregularities including Fraud:
- we identified the laws and regulations applicable to the company through discussions with management and also used our commercial and sector experience of the industry;
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, UK Government COVID 19 Support Scheme, UK General Data Protection Regulation, the Companies Act 2006, the Corporation Tax Act, UK anti-money laundering regime, employment and health & safety legislation;
- we ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- identified laws and regulations were communicated within our team and remained alert to any indications of non-compliance throughout the audit;
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries with Directors and management;
- considered the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and
- we also made enquiries with Directors and management as to where they considered there was susceptibility to fraud,their knowledge of actual, suspected and alleged fraud.

Responding to the risk of material misstatement due to Fraud
To respond to the identified risk of material misstatement due to fraud we assessed events and conditions that could indicate an incentive or pressure to commit fraud or provide an opportunity to commit fraud. We implemented following risk assessment procedures:
- tested journal entries to identify significant or unusual transactions and investigated the rationale behind those transactions;
- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
- performed analytical procedures to identify any unusual or unexpected relationship.

Responding to the risk of material misstatement due to non-compliance with Laws and Regulations
We implemented following risk assessment procedures:
- agreeing financial statement disclosures to underlying supporting documentation;
- reading Board minutes; and
- enquiring of management as to actual and potential litigation and claims.

Ability of the audit to detect fraud or breaches of the Laws and Regulations
Owing to the inherent limitations in an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements even though we have planned and performed the audit in accordance with the auditing standards. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment, forgery, collusion, misrepresentation, or intentional omission.

Our audit procedures are planned to detect material misstatements. We are not responsible for preventing fraud or 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.

Page 7
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
1ST CARE LIMITED


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.




Prakash Jariwala ACA FCCA (Senior Statutory Auditor)
for and on behalf of STGCA LLP t/a Sterling
Chartered Accountants
& Statutory Auditors
505 Pinner Road
Harrow
Middlesex
HA2 6EH

27 February 2023

Page 8
1ST CARE LIMITED (REGISTERED NUMBER: 04254989)

CONSOLIDATED INCOME STATEMENT
FOR THE YEAR ENDED 31 MARCH 2022

2022 2021
Notes £    £   

TURNOVER 7,708,724 5,994,164

Cost of sales (5,256,075 ) (4,551,745 )
GROSS PROFIT 2,452,649 1,442,419

Administrative expenses (1,249,289 ) (1,152,864 )
1,203,360 289,555

Other operating income 140,912 324,191
OPERATING PROFIT 4 1,344,272 613,746


Interest payable and similar expenses 5 (45,984 ) (51,341 )
PROFIT BEFORE TAXATION 1,298,288 562,405

Tax on profit 6 (212,034 ) (132,656 )
PROFIT FOR THE FINANCIAL YEAR 1,086,254 429,749
Profit attributable to:
Owners of the parent 1,086,254 429,749

The notes form part of these financial statements

Page 9
1ST CARE LIMITED (REGISTERED NUMBER: 04254989)

CONSOLIDATED OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2022

2022 2021
Notes £    £   

PROFIT FOR THE YEAR 1,086,254 429,749


OTHER COMPREHENSIVE INCOME
Revaluation gain on property (69,731 ) 31,602
Income tax relating to other comprehensive
income
-
45,960
OTHER COMPREHENSIVE INCOME
FOR THE YEAR, NET OF INCOME TAX
(69,731
)
77,562
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR
1,016,523
507,311

Total comprehensive income attributable to:
Owners of the parent 1,016,523 507,311

The notes form part of these financial statements

Page 10
1ST CARE LIMITED (REGISTERED NUMBER: 04254989)

CONSOLIDATED BALANCE SHEET
31 MARCH 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 1 1
Tangible assets 10 4,783,124 4,893,580
Investments 11 - -
4,783,125 4,893,581

CURRENT ASSETS
Debtors 12 2,447,434 1,614,829
Cash at bank and in hand 916,475 1,107,104
3,363,909 2,721,933
CREDITORS
Amounts falling due within one year 13 1,186,921 1,299,353
NET CURRENT ASSETS 2,176,988 1,422,580
TOTAL ASSETS LESS CURRENT
LIABILITIES
6,960,113
6,316,161

CREDITORS
Amounts falling due after more than one year 14 (1,088,682 ) (1,370,946 )

PROVISIONS FOR LIABILITIES 18 (276,905 ) (313,212 )
NET ASSETS 5,594,526 4,632,003

CAPITAL AND RESERVES
Called up share capital 19 351,000 351,000
Revaluation reserve 20 1,842,272 1,912,003
Retained earnings 20 3,401,254 2,369,000
SHAREHOLDERS' FUNDS 5,594,526 4,632,003

The financial statements were approved by the director and authorised for issue on 27 February 2023 and were signed by:





Mrs Jagruti Patel - Director


The notes form part of these financial statements

Page 11
1ST CARE LIMITED (REGISTERED NUMBER: 04254989)

COMPANY BALANCE SHEET
31 MARCH 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 1 1
Tangible assets 10 4,254,760 4,358,519
Investments 11 563,343 563,343
4,818,104 4,921,863

CURRENT ASSETS
Debtors 12 2,387,541 1,520,959
Cash at bank and in hand 819,202 1,020,364
3,206,743 2,541,323
CREDITORS
Amounts falling due within one year 13 1,081,348 1,142,482
NET CURRENT ASSETS 2,125,395 1,398,841
TOTAL ASSETS LESS CURRENT
LIABILITIES
6,943,499
6,320,704

CREDITORS
Amounts falling due after more than one year 14 (1,088,682 ) (1,370,946 )

PROVISIONS FOR LIABILITIES 18 (271,926 ) (306,246 )
NET ASSETS 5,582,891 4,643,512

CAPITAL AND RESERVES
Called up share capital 19 351,000 351,000
Revaluation reserve 20 1,625,357 1,699,319
Retained earnings 20 3,606,534 2,593,193
SHAREHOLDER FUNDS 5,582,891 4,643,512

Company's profit for the financial year 1,067,341 461,096

The financial statements were approved by the director and authorised for issue on 27 February 2023 and were signed by:





Mrs Jagruti Patel - Director


The notes form part of these financial statements

Page 12
1ST CARE LIMITED (REGISTERED NUMBER: 04254989)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2022

Called up
share Retained Revaluation Total
capital earnings reserve equity
£    £    £    £   

Balance at 1 April 2020 351,000 1,984,251 1,834,441 4,169,692

Changes in equity
Dividends - (45,000 ) - (45,000 )
Total comprehensive income - 429,749 77,562 507,311
Balance at 31 March 2021 351,000 2,369,000 1,912,003 4,632,003

Changes in equity
Dividends - (54,000 ) - (54,000 )
Total comprehensive income - 1,086,254 (69,731 ) 1,016,523
Balance at 31 March 2022 351,000 3,401,254 1,842,272 5,594,526

The notes form part of these financial statements

Page 13
1ST CARE LIMITED (REGISTERED NUMBER: 04254989)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2022

Called up
share Retained Revaluation Total
capital earnings reserve equity
£    £    £    £   

Balance at 1 April 2020 351,000 2,177,097 1,641,695 4,169,792

Changes in equity
Dividends - (45,000 ) - (45,000 )
Total comprehensive income - 461,096 57,624 518,720
Balance at 31 March 2021 351,000 2,593,193 1,699,319 4,643,512

Changes in equity
Dividends - (54,000 ) - (54,000 )
Total comprehensive income - 1,067,341 (73,962 ) 993,379
Balance at 31 March 2022 351,000 3,606,534 1,625,357 5,582,891

The notes form part of these financial statements

Page 14
1ST CARE LIMITED (REGISTERED NUMBER: 04254989)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2022

2022 2021
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 894,555 925,864
Tax paid (105,184 ) (89,730 )
Net cash from operating activities 789,371 836,134

Cash flows from investing activities
Purchase of tangible fixed assets (105,767 ) (220,148 )
Sale of tangible fixed assets - 17,938
Net cash from investing activities (105,767 ) (202,210 )

Cash flows from financing activities
New loans in year - 315,303
Loan repayments in year (289,131 ) (243,493 )
Amount introduced by directors - 33,363
Amount withdrawn by directors (126,315 ) (196,382 )
Paid to associates undertakings (358,803 ) (160,234 )
Equity dividends paid (54,000 ) (45,000 )
Interest paid (45,984 ) (51,341 )
Net cash from financing activities (874,233 ) (347,784 )

(Decrease)/increase in cash and cash equivalents (190,629 ) 286,140
Cash and cash equivalents at beginning of
year
2
1,107,104
820,964

Cash and cash equivalents at end of year 2 916,475 1,107,104

The notes form part of these financial statements

Page 15
1ST CARE LIMITED (REGISTERED NUMBER: 04254989)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2022


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
2022 2021
£    £   
Profit before taxation 1,298,288 562,405
Depreciation charges 146,490 152,689
Loss on disposal of fixed assets - 2,704
Finance costs 45,984 51,341
1,490,762 769,139
Decrease in stocks - 8,364
(Increase)/decrease in trade and other debtors (430,002 ) 52,195
(Decrease)/increase in trade and other creditors (166,205 ) 96,166
Cash generated from operations 894,555 925,864

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 31 March 2022
31.3.22 1.4.21
£    £   
Cash and cash equivalents 916,475 1,107,104
Year ended 31 March 2021
31.3.21 1.4.20
£    £   
Cash and cash equivalents 1,107,104 820,964


The notes form part of these financial statements

Page 16
1ST CARE LIMITED (REGISTERED NUMBER: 04254989)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2022


3. ANALYSIS OF CHANGES IN NET DEBT

At 1.4.21 Cash flow At 31.3.22
£    £    £   
Net cash
Cash at bank and in hand 1,107,104 (190,629 ) 916,475
1,107,104 (190,629 ) 916,475
Debt
Finance leases (70,000 ) 17,500 (52,500 )
Debts falling due within 1 year (288,950 ) (5,815 ) (294,765 )
Debts falling due after 1 year (1,318,422 ) 264,764 (1,053,658 )
(1,677,372 ) 276,449 (1,400,923 )
Total (570,268 ) 85,820 (484,448 )

The notes form part of these financial statements

Page 17
1ST CARE LIMITED (REGISTERED NUMBER: 04254989)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022


1. STATUTORY INFORMATION

1st Care 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 General 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 as modified by the revaluation of certain assets.

Basis of consolidation
The group financial statements consolidate the financial statements of 1st care limited and all its subsidiary undertaking drawn up to the year ending 31 March 2020. Subsidiary is consolidated from the date of their acquisition, being the date on which the Group obtains control and continue to be consolidated until the date that such control ceases. Control comprises the power to govern the financial and operating policies of the investee so as to obtain benefit from its activities.

Turnover
Turnover represents fees receivable for services provided.

Revenue recognition
Revenue from nursing home is recognised in the accounting period in which the company obtains the right to consideration.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Plant and Machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Surplus arising from the valuation of freehold property are taken directly to the revaluation reserve. Deficits are eliminated against any revaluation reserve in respect of that income generating unit with any excess, to the extent that it represents an impairment, being charged to profit and loss account.

Investments in subsidiaries
Investments in subsidiary undertaking are recognised at cost, less impairment.


Page 18 continued...
1ST CARE LIMITED (REGISTERED NUMBER: 04254989)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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
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.

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

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

Cash and cash equivalents
Cash and cash equivalents comprise cash balances and call deposits. Bank overdrafts that are repayable on
demand and form an integral part of the Company's cash management are included as a component of cash and cash equivalents for the purpose only of the cash flow statement.

Interest receivable and interest payable
Interest receivable and interest payable are recognised in profit or loss as they accrue, using the effective interest method.

Trade and other debtors / creditors
Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors.

Page 19 continued...
1ST CARE LIMITED (REGISTERED NUMBER: 04254989)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


3. EMPLOYEES AND DIRECTORS
2022 2021
£    £   
Wages and salaries 136,101 131,920
Social security costs 11,273 11,045
Other pension costs 159,359 79,400
306,733 222,365

The average number of employees during the year was as follows:
2022 2021

Management 1 1
Staff 193 202
194 203

2022 2021
£    £   
Director's remuneration 15,958 14,606

Pension cost includes amount paid on director's behalf of £17,000 (2020: £25,500)

4. OPERATING PROFIT

The operating profit is stated after charging:

2022 2021
£    £   
Hire of plant and machinery - 19,861
Depreciation - owned assets 131,871 133,221
Depreciation - assets on hire purchase contracts 14,619 19,468
Loss on disposal of fixed assets - 2,704
Auditors' remuneration 22,500 22,500
Auditors' remuneration- non-audit work 7,000 7,000

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2022 2021
£    £   
Bank loan interest 31,647 29,928
Other Loan Interest 14,337 21,413
45,984 51,341

Page 20 continued...
1ST CARE LIMITED (REGISTERED NUMBER: 04254989)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2022 2021
£    £   
Current tax:
UK corporation tax 248,340 107,669

Deferred tax (36,306 ) 24,987
Tax on profit 212,034 132,656

Tax effects relating to effects of other comprehensive income

2022
Gross Tax Net
£    £    £   
Revaluation gain on property (69,731 ) - (69,731 )

2021
Gross Tax Net
£    £    £   
Revaluation gain on property 31,602 45,960 77,562

7. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


8. DIVIDENDS
2022 2021
£    £   
Ordinary shares of £1 each
Interim 54,000 45,000

Page 21 continued...
1ST CARE LIMITED (REGISTERED NUMBER: 04254989)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


9. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 April 2021
and 31 March 2022 104,504
AMORTISATION
At 1 April 2021
and 31 March 2022 104,503
NET BOOK VALUE
At 31 March 2022 1
At 31 March 2021 1

Company
Goodwill
£   
COST
At 1 April 2021
and 31 March 2022 104,504
AMORTISATION
At 1 April 2021
and 31 March 2022 104,503
NET BOOK VALUE
At 31 March 2022 1
At 31 March 2021 1

Page 22 continued...
1ST CARE LIMITED (REGISTERED NUMBER: 04254989)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


10. TANGIBLE FIXED ASSETS

Group
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 April 2021 5,052,333 186,382 1,294,192 76,298 6,609,205
Additions 12,000 2,760 91,005 - 105,765
Revaluations (69,731 ) - - - (69,731 )
At 31 March 2022 4,994,602 189,142 1,385,197 76,298 6,645,239
DEPRECIATION
At 1 April 2021 612,334 168,914 915,302 19,075 1,715,625
Charge for year 32,269 5,057 94,859 14,305 146,490
At 31 March 2022 644,603 173,971 1,010,161 33,380 1,862,115
NET BOOK VALUE
At 31 March 2022 4,349,999 15,171 375,036 42,918 4,783,124
At 31 March 2021 4,439,999 17,468 378,890 57,223 4,893,580

Included in cost or valuation of land and buildings is freehold land of £1,917,816 (2021 - £1,917,816) which is not depreciated.

Cost or valuation at 31 March 2022 is represented by:

Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
Valuation in 2012 625,370 - - - 625,370
Valuation in 2020 1,439,468 - - - 1,439,468
Valuation in 2021 31,603 - - - 31,603
Valuation in 2022 (69,731 ) - - - (69,731 )
Cost 2,967,892 189,142 1,385,197 76,298 4,618,529
4,994,602 189,142 1,385,197 76,298 6,645,239

Freehold properties were revalued at market value of £4,350,000 by Rick Tarver and Keiren Cole, MRICS, Partners at Knight Frank LLP in August 2020 using years purchase multiple method of valuation. The valuation provided various values. Value adopted by the management is based on Special assumptions of a six months marketing period, the properties being vacant, the business closed, inventory has been removed and that the registration certificate is lost.

Page 23 continued...
1ST CARE LIMITED (REGISTERED NUMBER: 04254989)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


10. TANGIBLE FIXED ASSETS - continued

Group

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 2021
and 31 March 2022 90,000 76,298 166,298
DEPRECIATION
At 1 April 2021 88,430 19,075 107,505
Charge for year 314 14,305 14,619
At 31 March 2022 88,744 33,380 122,124
NET BOOK VALUE
At 31 March 2022 1,256 42,918 44,174
At 31 March 2021 1,570 57,223 58,793

Company
Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST OR VALUATION
At 1 April 2021 4,379,245 1,231,020 76,298 5,686,563
Additions 12,000 91,006 - 103,006
Revaluations (73,962 ) - - (73,962 )
At 31 March 2022 4,317,283 1,322,026 76,298 5,715,607
DEPRECIATION
At 1 April 2021 439,245 869,724 19,075 1,328,044
Charge for year 28,038 90,460 14,305 132,803
At 31 March 2022 467,283 960,184 33,380 1,460,847
NET BOOK VALUE
At 31 March 2022 3,850,000 361,842 42,918 4,254,760
At 31 March 2021 3,940,000 361,296 57,223 4,358,519

Page 24 continued...
1ST CARE LIMITED (REGISTERED NUMBER: 04254989)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


10. TANGIBLE FIXED ASSETS - continued

Company

Cost or valuation at 31 March 2022 is represented by:

Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
Valuation in 2012 565,305 - - 565,305
Valuation in 2020 1,356,792 - - 1,356,792
Valuation in 2021 27,372 - - 27,372
Valuation in 2022 (73,962 ) - - (73,962 )
Cost 2,441,776 1,322,026 76,298 3,840,100
4,317,283 1,322,026 76,298 5,715,607

Freehold properties were revalued at market value of £3,850,000 by Rick Tarver and Keiren Cole, MRICS, Partners at Knight Frank LLP in August 2020 using years purchase multiple method of valuation. The valuation is subject to special assumptions of a six months marketing period, the property being vacant, the business closed, inventory has been removed and that the registration certificate is lost.

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 2021
and 31 March 2022 90,000 76,298 166,298
DEPRECIATION
At 1 April 2021 88,430 19,075 107,505
Charge for year 314 14,305 14,619
At 31 March 2022 88,744 33,380 122,124
NET BOOK VALUE
At 31 March 2022 1,256 42,918 44,174
At 31 March 2021 1,570 57,223 58,793

Page 25 continued...
1ST CARE LIMITED (REGISTERED NUMBER: 04254989)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


11. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertaking
£   
COST
At 1 April 2021
and 31 March 2022 563,343
NET BOOK VALUE
At 31 March 2022 563,343
At 31 March 2021 563,343

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiary

Regency Investments Limited
Registered office:
Nature of business: management of a nursing home.
%
Class of shares: holding
Ordinary shares 100.00
2022 2021
£    £   
Aggregate capital and reserves 588,132 564,988
Profit for the year 23,144 1,645


12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2022 2021 2022 2021
£    £    £    £   
Trade debtors 946,709 539,917 863,787 451,745
Amounts owed by group undertakings - - 25,112 2,535
Amounts owed by associates 1,438,309 1,066,823 1,425,642 1,061,156
Other debtors 17,963 1,000 17,963 1,000
Directors' current accounts 31,117 - 44,267 -
Prepayments and accrued income 2,566 2,566 - -
Prepayments 10,770 4,523 10,770 4,523
2,447,434 1,614,829 2,387,541 1,520,959

Page 26 continued...
1ST CARE LIMITED (REGISTERED NUMBER: 04254989)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2022 2021 2022 2021
£    £    £    £   
Bank loans and overdrafts (see note 15) 219,155 219,065 219,155 219,065
Other loans (see note 15) 75,610 69,885 75,610 69,885
Hire purchase contracts (see note 16) 17,476 17,476 17,476 17,476
Trade creditors 187,636 382,907 169,313 336,261
Tax 323,795 180,639 317,396 164,856
Social security and other taxes 87,438 61,073 67,236 42,678
Other creditors 24,330 101,987 20,736 101,174
Directors' current accounts - 95,198 - 82,148
Accrued expenses 251,481 171,123 194,426 108,939
1,186,921 1,299,353 1,081,348 1,142,482

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group Company
2022 2021 2022 2021
£    £    £    £   
Bank loans (see note 15) 989,237 1,172,666 989,237 1,172,666
Other loans (see note 15) 64,421 145,756 64,421 145,756
Hire purchase contracts (see note 16) 35,024 52,524 35,024 52,524
1,088,682 1,370,946 1,088,682 1,370,946

The other loans are repayable by equal instalments, with the rate of interest charged at 9.5% per annum.

Page 27 continued...
1ST CARE LIMITED (REGISTERED NUMBER: 04254989)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


15. LOANS

An analysis of the maturity of loans is given below:

Group Company
2022 2021 2022 2021
£    £    £    £   
Amounts falling due within one year or on demand:
Bank loans 219,155 219,065 219,155 219,065
Other loans 75,610 69,885 75,610 69,885
294,765 288,950 294,765 288,950
Amounts falling due between one and two years:
Bank loans - 1-2 years 219,155 364,822 219,155 364,822
Amounts falling due between two and five years:
Bank loans - 2-5 years 770,082 807,844 770,082 807,844
Other loans - 2-5 years 64,421 145,756 64,421 145,756
834,503 953,600 834,503 953,600

16. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2022 2021
£    £   
Net obligations repayable:
Within one year 17,476 17,476
Between one and five years 35,024 52,524
52,500 70,000

Company
Hire purchase contracts
2022 2021
£    £   
Net obligations repayable:
Within one year 17,476 17,476
Between one and five years 35,024 52,524
52,500 70,000

Page 28 continued...
1ST CARE LIMITED (REGISTERED NUMBER: 04254989)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


17. SECURED DEBTS

The following secured debts are included within creditors:

Group Company
2022 2021 2022 2021
£    £    £    £   
Bank loans 1,208,392 1,391,731 1,208,392 1,391,731

The bank loan is secured by a charge over the group's freehold properties and by personal guarantee from the director. The loan is repayable by equal instalments over 5 years maturing on 30th June 2023, with rate of interest 3% above the base rate.

Also included within bank loan is a £250k government backed coronavirus business interruption loan. Loan is payable in equal instalment over 4 years starting from end of the first year at a floating interest rate of 3.5% per annum. There is limited guarantee given by Secretary of State for the Department for Business on this loan.

Other loan is secured by the personal guarantee from the director. The loan is repayable by equal instalments over 5 years maturing on 30 November 2023, with fixed rate of interest of 7.90% per annum.

18. PROVISIONS FOR LIABILITIES

Group Company
2022 2021 2022 2021
£    £    £    £   
Deferred tax 276,905 313,212 271,926 306,246

Group
Deferred
tax
£   
Balance at 1 April 2021 313,212
Charge for the year (36,307 )
Balance at 31 March 2022 276,905

Company
Deferred
tax
£   
Balance at 1 April 2021 306,246
charge for the year (34,320 )
Balance at 31 March 2022 271,926

Page 29 continued...
1ST CARE LIMITED (REGISTERED NUMBER: 04254989)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


19. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
351,000 Ordinary £1 351,000 351,000

20. RESERVES

Group
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 April 2021 2,369,000 1,912,003 4,281,003
Profit for the year 1,086,254 1,086,254
Dividends (54,000 ) (54,000 )
Revaluation gain - (69,731 ) (69,731 )
At 31 March 2022 3,401,254 1,842,272 5,243,526

Company
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 April 2021 2,593,193 1,699,319 4,292,512
Profit for the year 1,067,341 1,067,341
Dividends (54,000 ) (54,000 )
Revaluation gain - (73,962 ) (73,962 )
At 31 March 2022 3,606,534 1,625,357 5,231,891


21. RELATED PARTY DISCLOSURES

During the year, the group paid dividends of £54,000 (2021 : £45,000) to the director. Director is considered to be the key management personnel and remuneration paid to her has been disclosed in note 3. At the balance sheet date, the group was owed £31,117 (2021: £95,198 owed to) by the director, the loan is interest free and repayable on demand.

At the balance sheet date, the group was owed £420,502 (2021: £389,968) by New Green Solutions Limited, a company in which the director's spouse has a beneficial interest. The amounts owed are repayable on demand.

At the balance sheet date, the company was owed £3,240 (2021 : £3,240) by First 1 2 1 Care Limited, £119,135 (2021 : £84,567) by Japestar Limited and £895,432 (2021 : £589,048) by New Barnes Limited, companies in which the director has beneficial interest. The amounts owed are repayable on demand.

Page 30 continued...
1ST CARE LIMITED (REGISTERED NUMBER: 04254989)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


22. ULTIMATE CONTROLLING PARTY

The Ultimate controlling party is Mrs J Patel by virtue of her 100% interest in the share holdings of the group.

Page 31