1st Care Limited - Limited company - abbreviated

REGISTERED NUMBER: 04254989 (England and Wales)

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

FOR

1ST CARE LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Abbreviated Balance Sheet

3

Notes to the Abbreviated Accounts

5

DIRECTOR:

Mrs J Patel

SECRETARY:

S Mistry

REGISTERED OFFICE:

505 Pinner Road

Harrow

Middlesex

HA2 6EH

REGISTERED NUMBER:

04254989 (England and Wales)

ACCOUNTANTS:

Sterling

Chartered Accountants

505 Pinner Road

Harrow

Middlesex

HA2 6EH

BANKERS:

The Royal Bank of Scotland

Birmingham Colmore Row Branch

79/83 Colmore Row

Birmingham

B3 2AP

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages three to seven)

have been prepared.

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 2015 which comprise the Profit and Loss Account,

the Balance Sheet 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 at icaew.com/membershandbook.

This report is made solely to the director of 1st Care Limited in accordance with the terms of our engagement letter dated 22 October 2010. 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 AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company 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.

Sterling

Chartered Accountants

505 Pinner Road

Harrow

Middlesex

HA2 6EH

9 November 2015

FIXED ASSETS

Intangible assets

2

1

Tangible assets

3

2,151,872

2,243,141

Investments

4

782,699

2,934,572

3,025,841

CURRENT ASSETS

Stocks

10,370

10,210

Debtors

524,287

455,216

Cash at bank and in hand

40,133

67,371

574,790

532,797

CREDITORS

Amounts falling due within one year

5

644,278

804,054

NET CURRENT LIABILITIES

(69,488

)

(271,257

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,865,084

2,754,584

CREDITORS

Amounts falling due after more than one
year

5

(1,678,645

)

(1,792,180

)

PROVISIONS FOR LIABILITIES

(18,735

)

(17,821

)

NET ASSETS

1,167,704

944,583

CAPITAL AND RESERVES

Called up share capital

6

351,000

Revaluation reserve

531,387

542,693

Profit and loss account

285,317

50,890

SHAREHOLDERS' FUNDS

1,167,704

944,583

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 in accordance with Section 476 of the Companies Act 2006.

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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 9 November 2015 and were signed by:

Mrs J Patel - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April

2008).

Turnover

Turnover represents the fee receivable for services provided. Turnover is recognised when the company has a

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

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

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 the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Investments

Fixed asset investments are stated at cost unless, in the opinion of the Directors, there has been an impairment, in

which case an appropriate adjustment is made.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

and 31 March 2015

104,504

AMORTISATION

At 1 April 2014

and 31 March 2015

104,503

NET BOOK VALUE

At 31 March 2015

1

At 31 March 2014

1

3.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 April 2014

3,027,246

Additions

76,623

Impairments

(84,569

)

At 31 March 2015

3,019,300

DEPRECIATION

At 1 April 2014

784,105

Charge for year

83,323

At 31 March 2015

867,428

NET BOOK VALUE

At 31 March 2015

2,151,872

At 31 March 2014

2,243,141

4.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 April 2014

and 31 March 2015

782,699

NET BOOK VALUE

At 31 March 2015

782,699

At 31 March 2014

782,699

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

Regency Investments Limited

Country of incorporation: England and Wales

Nature of business: management of a nursing home.

%

Class of shares:

holding

Ordinary shares

100.00

31/3/15

31/3/14

£

Aggregate capital and reserves

500,070

580,002

Loss for the year

(79,932

)

(61,359

)

5.

CREDITORS

Creditors include an amount of £ 1,859,637 (31/3/14 - £ 2,061,141 ) for which security has been given.

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/3/15

31/3/14

value:

£

351,000

Ordinary

£1

351,000

7.	RELATED PARTY DISCLOSURES

During the year, total dividends of £66,000 were paid to the director .

At the balance sheet date, creditors less than one year included amounts owed to Regency Investments Limited of

£129,184 (2014: £252,997), a wholly owned subsidiary of the company. The amounts are interest free with no

specific terms for repayments.

During the year, the company paid £40,800 (2014: £39,600) for consultancy services to New Green Solutions

Ltd, the company in which director's spouse, Mr J Patel, has beneficial interest. At the balance sheet date,

creditors less than one year included amounts owed to New Green Solutions Ltd of £9,200 (2014: £6,800). Also,

the company made unsecured and interest free loans to New Green Solutions Ltd of £172,181 and this is

represented in amounts due from connected companies in debtors.

At the balance sheet date, other debtors included amounts due from Turkswood Energy Limited of £1,560, the

company in which director's spouse, Mr J Patel, has beneficial interest.

Company's administration and accounting functions are carried out from the premises owned by the director. The

company made payment of £12,000 (2014: £12,000) for the use of the premises as offices on a market rent basis.

8.	ULTIMATE CONTROLLING PARTY

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

1st Care Limited - Limited company - abbreviated - 11.9

1st Care Limited - Limited company - abbreviated - 11.9