FIRST HEALTHCARE HOLDINGS LIMITED

• ⚠

  Material uncertainty over going concern

  We draw attention to note 1.5 in the financial statements, which indicate that the group incurred a net loss of £2,948,657 during the year ended 31 July 2024 and, as of that date, the group's liabilities exceeded its total assets by £6,715,616. As stated in note 1.5, these events or conditions, indicate that a material uncertainty exists that may cast significant doubt on the group's ability to continue as a going concern.

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

• Turnover

  +51.1%

  £28,592,564 → £43,215,413

• Cash

  -72.7%

  £2,574,482 → £701,845

• Net assets

  -78.3%

  -£3,766,959 → -£6,715,616

• Employees

  -1.2%

  1,082 → 1,069

• Operating profit

  +65.6%

  -£5,824,166 → -£2,001,831

• Profit before tax

  +23.9%

  -£3,826,320 → -£2,912,209

• Wages

  +63.5%

  £14,879,553 → £24,322,237

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

AMS Audit Limited

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“We draw attention to note 1.5 in the financial statements, which indicate that the group incurred a net loss of £2,948,657 during the year ended 31 July 2024 and, as of that date, the group's liabilities exceeded its total assets by £6,715,616. As stated in note 1.5, these events or conditions, indicate that a material uncertainty exists that may cast significant doubt on the group's ability to continue as a going concern.”

Group structure

1. FIRST HEALTHCARE HOLDINGS LIMITED · parent
   1. Valorum Care Group Limited 100% · England and Wales · Specialist care services
   2. Valorum Care Limited 100% · England and Wales · Holding company
   3. Carmel Care & Support Limited 100% · England and Wales · Dormant
   4. Trova Support Limited 100% · England and Wales · Dormant
   5. Hart Care Essex Ltd 100% · England and Wales · Dormant
   6. RBS Care Limited 100% · England and Wales · Dormant
   7. Adjuvo Care Essex Limited 100% · England and Wales · Dormant

Significant events

• “The principal risks of material impact on the financial statements relate to non-compliance with laws and regulations, misstatement of revenue and override of controls by management.”
• “Post acquisition of the group in October 2022 a review was carried out by the director and a number of loans owed to former subsidiaries were released back to the profit and loss as these were found to be no longer payable. As such a credit to the profit and loss account of £3,101,024 arose during the previous year.”
• “First Healthcare Holdings Limited acquired 50% of the share capital of Inmind Healthcare Limited on 28 October 2022. This transaction was not recorded in the prior year financial statements and as such an adjustment has been made to bring in the investment at it's recorded value of £3,700,000, recording the consideration and deferred consideration in the balance sheet.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

2

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.