IRIS Accounts Production v24.3.0.553 13438798 director 31.3.24 1.4.23 31.3.24 31.3.24 care homes. true true false true true false false false true false Ordinary 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh134387982023-03-31134387982024-03-31134387982023-04-012024-03-31134387982022-03-31134387982022-04-012023-03-31134387982023-03-3113438798ns15:EnglandWales2023-04-012024-03-3113438798ns14:PoundSterling2023-04-012024-03-3113438798ns10:Director12023-04-012024-03-3113438798ns10:Consolidated2024-03-3113438798ns10:ConsolidatedGroupCompanyAccounts2023-04-012024-03-3113438798ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3113438798ns10:Consolidatedns10:FRS1022023-04-012024-03-3113438798ns10:Consolidatedns10:Audited2023-04-012024-03-3113438798ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3113438798ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3113438798ns10:Consolidatedns10:LargeCompaniesRegimeForDirectorsReport2023-04-012024-03-3113438798ns10:Consolidatedns10:LargeCompaniesRegimeForAccounts2023-04-012024-03-3113438798ns10:FullAccounts2023-04-012024-03-311343879812023-04-012024-03-3113438798ns10:OrdinaryShareClass12023-04-012024-03-3113438798ns10:Consolidated2023-04-012024-03-3113438798ns10:RegisteredOffice2023-04-012024-03-3113438798ns10:Consolidated2022-04-012023-03-3113438798ns5:CurrentFinancialInstruments2024-03-3113438798ns5:CurrentFinancialInstruments2023-03-3113438798ns5:Non-currentFinancialInstruments2024-03-3113438798ns5:Non-currentFinancialInstruments2023-03-3113438798ns5:ShareCapital2024-03-3113438798ns5:ShareCapital2023-03-3113438798ns5:RetainedEarningsAccumulatedLosses2024-03-3113438798ns5:RetainedEarningsAccumulatedLosses2023-03-3113438798ns5:ShareCapital2022-03-3113438798ns5:RetainedEarningsAccumulatedLosses2022-03-3113438798ns5:RetainedEarningsAccumulatedLosses2022-04-012023-03-3113438798ns5:RetainedEarningsAccumulatedLosses2023-04-012024-03-3113438798ns5:NetGoodwill2023-04-012024-03-3113438798ns5:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3113438798ns5:LandBuildingsns5:OwnedOrFreeholdAssets2023-04-012024-03-3113438798ns5:LongLeaseholdAssetsns5:LandBuildings2023-04-012024-03-3113438798ns5:PlantMachinery2023-04-012024-03-3113438798ns5:FurnitureFittings2023-04-012024-03-3113438798ns5:MotorVehicles2023-04-012024-03-3113438798ns5:ComputerEquipment2023-04-012024-03-3113438798ns5:NetGoodwill2023-03-3113438798ns5:NetGoodwill2024-03-3113438798ns5:NetGoodwill2023-03-3113438798ns5:CostValuation2023-03-3113438798ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-3113438798ns5:WithinOneYearns5:CurrentFinancialInstruments2023-03-3113438798ns10:OrdinaryShareClass12024-03-31
REGISTERED NUMBER: 13438798 (England and Wales)















GROUP STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

ELEANOR CARE HOMES HOLDINGS LIMITED

ELEANOR CARE HOMES HOLDINGS LIMITED (REGISTERED NUMBER: 13438798)






CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Director 4

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 17


ELEANOR CARE HOMES HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: M V Santhiapillai





REGISTERED OFFICE: First Floor Leegate House
Burnt Ash Road
London
SE12 8RG





REGISTERED NUMBER: 13438798 (England and Wales)





AUDITORS: Edwards Chartered Accountants
Statutory Auditor
409-411 Croydon Road
Beckenham
Kent
BR3 3PP

ELEANOR CARE HOMES HOLDINGS LIMITED (REGISTERED NUMBER: 13438798)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2024

The director presents his strategic report of the company and the group for the year ended 31 March 2024.

REVIEW OF BUSINESS
In 2023/24, the UK care sector experienced significant challenges due to a turbulent economic environment. Rising inflation, increased operational costs, and workforce shortages presented substantial difficulties for care providers. The cost-of-living crisis, higher wages, and recruitment difficulties made it increasingly hard to attract and retain skilled workers. These challenges were compounded by new regulatory demands and growing expectations for more personalized, high-quality care to meet the needs of an aging population.

Despite these pressures, the group demonstrated resilience, navigating these challenges while remaining committed to exceptional patient care. By investing in innovative care models and technology, we improved operational efficiency and enhanced access to care. The year marked a pivotal period of transformation and growth for the Group, as we expanded services, deepened our commitment to patient-centricity, and focused on operational excellence and sustainability.

Eleanor Care Homes Holdings Limited continue to provide residential nursing care, focusing on both general and specialized care services. The Group is dedicated to delivering personalized, high-quality care, with a strategic focus on expanding our private pay market share and broadening services to include specialized care sectors like rehabilitation and prison healthcare.

PRINCIPAL RISKS AND UNCERTAINTIES
The Board closely monitors strategic risks and evaluates performance through Key Performance Indicators (KPIs) to ensure alignment with the Group's long-term objectives.

SECTION 172(1) STATEMENT
In 2023-24, we prioritised workforce development by launching initiatives to support employee well-being, professional development, and retention. Recognizing the competitive healthcare labour market, we focused on attracting diverse talent and fostering a strong culture of professional growth. These efforts have significantly reduced turnover rates and improved staff morale.
KPIs used:
Staff turnover rates,
Training participation,
Number of hours for staffing (employed and agency).

Health & Safety

Providing a safe environment for residents and staff remains a priority. In 2024, we strengthened our health and safety policies and improved training programs to ensure full compliance with regulatory safety standards.
KPIs used:
Accident statistics,
Notifiable accident frequency.

Cost Base Inflation

Inflationary pressures, especially in staffing, energy, and food, posed challenges in 2023-24. However, our cost control measures, including centralized procurement and operational efficiency programs, helped mitigate these risks.
KPIs used:
EBITDA and EBITDAR per bed,
Costs per resident per day.

CORE STRATEGIES
Sustained Growth: Growth was driven through new care facilities, acquisitions, and service enhancements.

Technology Integration: We focused on digital transformation to streamline operations, enhancing service quality and patient outcomes.

Expansion into New Care Areas: Diversification into specialized services such as rehabilitation and prison care to capture new revenue streams.


ELEANOR CARE HOMES HOLDINGS LIMITED (REGISTERED NUMBER: 13438798)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2024

OPERATIONAL PERFORMANCE
In 2023-24, Eleanor Care Homes Holdings Limited successfully executed several key initiatives aimed at improving operational efficiency and service quality. By embracing digital transformation, we streamlined administrative processes, reduced inefficiencies, and enhanced real-time data management. These improvements directly impacted service user satisfaction, contributing to a notable increase in satisfaction rates and a measurable improvement in clinical outcomes.

REGULATORY AND QUALITY STANDARDS
Our strong relationship with regulatory bodies, particularly the Care Quality Commission (CQC), was critical in maintaining high standards of care. In 2023-24, Eleanor Care home holdings enhanced its internal compliance frameworks, ensuring staff were well-trained and services met evolving regulatory requirements. Our commitment to compliance and excellence resulted in improved quality ratings across several facilities.

FINANCIAL PERFORMANCE
Eleanor Care home holdings delivered a robust financial performance in 2023-24, despite the pressures of inflation and workforce shortages. Revenue grew by £2.7m (£18.7m v £16m) and profitability increased by £270k (1.85m v £1.58m), underpinned by prudent fiscal management and cost-control measures.

Key Financial Indicators:
Revenue growth: 16%
EBITDAR: £7.2m
Care home Occupancy rate: 90%.
Private occupancy rate: 55%

Strategic Risks and Key Performance Indicators:
The Board closely monitors strategic risks and evaluates performance through Key Performance Indicators (KPIs) to ensure alignment with the Group's long-term objectives.

CLINICAL QUALITY AND PATIENT SAFETY
Ensuring high-quality care is central to our operations. We have made significant investments in clinical governance, care delivery frameworks, and staff training. Our specialist teams and advanced monitoring systems ensure we deliver consistent, high-standard care.

KPIs used:
Regulatory compliance (CQC ratings),
Clinical well-being indicators,
Patient satisfaction scores.

ON BEHALF OF THE BOARD:





M V Santhiapillai - Director


27 September 2024

ELEANOR CARE HOMES HOLDINGS LIMITED (REGISTERED NUMBER: 13438798)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 31 MARCH 2024

The director presents his report with the financial statements of the company and the group for the year ended 31 March 2024.

DIVIDENDS
No dividends will be distributed for the year ended 31 March 2024.

DIRECTOR
M V Santhiapillai held office during the whole of the period from 1 April 2023 to the date of this report.

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). Under company law the director must not approve the financial statements unless he 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;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and
explained in the financial statements;
- 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 him to ensure that the financial statements comply with the Companies Act 2006. He 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 he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
The auditors, Edwards Chartered Accountants, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





M V Santhiapillai - Director


27 September 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ELEANOR CARE HOMES HOLDINGS LIMITED

Opinion
We have audited the financial statements of Eleanor Care Homes Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2024 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 2024 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.

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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ELEANOR CARE HOMES HOLDINGS LIMITED


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 four, 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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ELEANOR CARE HOMES HOLDINGS 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:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures can detect irregularities, including fraud is detailed below:

Our approach was as follows:

a) We obtained an understanding of the legal and regulatory frameworks that are applicable to the entity and determined that the most significant are those that relate to include the Companies Act 2006, and relevant tax legislation. In addition, we have considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty.

b) We communicated identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

c) We examined the company's regulatory and legal correspondence and discussed with management any known or suspected instances of fraud or non-compliance with laws and regulations.

d) We assessed the risks of material misstatement in respect of fraud as follows:

i) We considered the use of remuneration incentive schemes and performance targets for management and did not identify any additional fraud risks
ii) The audit team discussed whether there were any areas that were susceptible to misstatement as part of their fraud discussion.
iii) In addressing the risk of management override of controls, we tested the appropriateness of journal entries. We also challenged assumptions and judgements made by management in their significant accounting estimates and judgements.
iv) We incorporated an element of unpredictability in the selection of the nature, timing and extent of our audit procedures.

Based on the results of our risk assessment we designed our audit procedures to identify and to address material misstatements in relation to fraud, including:

Designing audit procedures to address, for example:
a) The possibility of fraudulent or corrupt payments made through third parties.
b) The risk of bribery and corruption.
c) The opportunity to segregate duties within the entity.

Based on the results of our risk assessment we designed our audit procedures to identify non-compliance with such laws and regulations identified above.

Using our general commercial and sector experience and through discussions with management, we identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements as well as those arising from management's own assessment of the risks that irregularities may occur either because of fraud or error.

The engagement partner considers the engagement team collectively had the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations.


REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ELEANOR CARE HOMES HOLDINGS LIMITED

Under ISA 240 (UK) there is a presumed risk that revenue may be misstated due to the improper recognition of revenue. To address this risk, we obtained an understanding of the company's revenue recognition policies and compared these to the accounting standard, performed a walkthrough to confirm our understanding of the processes and controls through which the business initiates, records, processes and reports revenue transactions.

We tested a sample of revenue transactions to supporting evidence and tested, on a sample basis, revenue related balances in the balance sheet.

We considered the extent to which the audit was considered capable of detecting irregularities: There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentation, or through collusion.

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.

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.




John Duggan (Senior Statutory Auditor)
for and on behalf of Edwards Chartered Accountants
Statutory Auditor
409-411 Croydon Road
Beckenham
Kent
BR3 3PP

27 September 2024

ELEANOR CARE HOMES HOLDINGS LIMITED (REGISTERED NUMBER: 13438798)

CONSOLIDATED
INCOME STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
Notes £    £   

TURNOVER 18,787,840 16,031,650

Cost of sales 8,797,231 7,936,321
GROSS PROFIT 9,990,609 8,095,329

Administrative expenses 5,269,977 4,776,139
4,720,632 3,319,190

Other operating income 14,500 5,000
OPERATING PROFIT 4 4,735,132 3,324,190

Interest receivable and similar income 8,476 11,407
4,743,608 3,335,597

Interest payable and similar expenses 5 1,761,045 944,524
PROFIT BEFORE TAXATION 2,982,563 2,391,073

Tax on profit 6 1,127,438 805,228
PROFIT FOR THE FINANCIAL YEAR 1,855,125 1,585,845
Profit attributable to:
Owners of the parent 1,855,125 1,585,845

ELEANOR CARE HOMES HOLDINGS LIMITED (REGISTERED NUMBER: 13438798)

CONSOLIDATED
OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 1,855,125 1,585,845


OTHER COMPREHENSIVE INCOME
Revaluation of freehold properties 57,248,034 -
Income tax relating to other comprehensive
income

-

-
OTHER COMPREHENSIVE INCOME
FOR THE YEAR, NET OF INCOME TAX

57,248,034

-
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

59,103,159

1,585,845

Total comprehensive income attributable to:
Owners of the parent 59,103,159 1,585,845

ELEANOR CARE HOMES HOLDINGS LIMITED (REGISTERED NUMBER: 13438798)

CONSOLIDATED BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 8 2,408,478 4,115,734
Tangible assets 9 75,194,205 17,449,337
Investments 10 15,584,166 15,584,165
93,186,849 37,149,236

CURRENT ASSETS
Stocks 11 8,500 8,500
Debtors 12 1,688,477 1,526,966
Cash at bank and in hand 2,297,860 601,080
3,994,837 2,136,546
CREDITORS
Amounts falling due within one year 13 14,833,080 14,570,477
NET CURRENT LIABILITIES (10,838,243 ) (12,433,931 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

82,348,606

24,715,305

CREDITORS
Amounts falling due after more than one
year

14

(20,833,330

)

(22,499,998

)

PROVISIONS FOR LIABILITIES 17 (248,579 ) (51,769 )
NET ASSETS 61,266,697 2,163,538

CAPITAL AND RESERVES
Called up share capital 18 1 1
Revaluation reserve 19 57,248,034 -
Retained earnings 19 4,018,662 2,163,537
SHAREHOLDERS' FUNDS 61,266,697 2,163,538

The financial statements were approved by the director and authorised for issue on 27 September 2024 and were signed by:





M V Santhiapillai - Director


ELEANOR CARE HOMES HOLDINGS LIMITED (REGISTERED NUMBER: 13438798)

COMPANY BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 8 13,614,088 15,063,775
Tangible assets 9 - -
Investments 10 15,584,165 15,584,165
29,198,253 30,647,940

CURRENT ASSETS
Debtors 12 1 1
Cash at bank 1,376,012 99,608
1,376,013 99,609
CREDITORS
Amounts falling due within one year 13 9,166,312 8,037,884
NET CURRENT LIABILITIES (7,790,299 ) (7,938,275 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

21,407,954

22,709,665

CREDITORS
Amounts falling due after more than one
year

14

20,833,330

22,499,998
NET ASSETS 574,624 209,667

CAPITAL AND RESERVES
Called up share capital 18 1 1
Retained earnings 574,623 209,666
SHAREHOLDERS' FUNDS 574,624 209,667

Company's profit for the financial year 364,957 711,119

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

The financial statements were approved by the director and authorised for issue on 26 September 2024 and were signed by:





M V Santhiapillai - Director


ELEANOR CARE HOMES HOLDINGS LIMITED (REGISTERED NUMBER: 13438798)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024

Called up
share Retained Revaluation Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 April 2022 1 577,692 - 577,693

Changes in equity
Total comprehensive income - 1,585,845 - 1,585,845
Balance at 31 March 2023 1 2,163,537 - 2,163,538

Changes in equity
Total comprehensive income - 1,855,125 57,248,034 59,103,159
Balance at 31 March 2024 1 4,018,662 57,248,034 61,266,697

ELEANOR CARE HOMES HOLDINGS LIMITED (REGISTERED NUMBER: 13438798)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 April 2022 1 (501,453 ) (501,452 )

Changes in equity
Total comprehensive income - 711,119 711,119
Balance at 31 March 2023 1 209,666 209,667

Changes in equity
Total comprehensive income - 364,957 364,957
Balance at 31 March 2024 1 574,623 574,624

ELEANOR CARE HOMES HOLDINGS LIMITED (REGISTERED NUMBER: 13438798)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 6,780,998 7,450,528
Interest paid (1,761,045 ) (944,524 )
Tax paid (350,832 ) (265,164 )
Net cash from operating activities 4,669,121 6,240,840

Cash flows from investing activities
Purchase of intangible fixed assets (190,700 ) (1,769,693 )
Purchase of tangible fixed assets (1,123,449 ) (7,129,518 )
Purchase of fixed asset investments (1 ) (10,824,612 )
Sale of tangible fixed assets 1 -
Interest received 8,476 11,407
Net cash from investing activities (1,305,673 ) (19,712,416 )

Cash flows from financing activities
New loans in year - 25,000,000
Loan repayments in year (1,666,668 ) (12,553,970 )
Net cash from financing activities (1,666,668 ) 12,446,030

Increase/(decrease) in cash and cash equivalents 1,696,780 (1,025,546 )
Cash and cash equivalents at beginning of
year

2

601,080

1,626,626

Cash and cash equivalents at end of year 2 2,297,860 601,080

ELEANOR CARE HOMES HOLDINGS LIMITED (REGISTERED NUMBER: 13438798)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

2024 2023
£    £   
Profit before taxation 2,982,563 2,391,073
Depreciation charges 2,530,426 1,948,134
Finance costs 1,761,045 944,524
Finance income (8,476 ) (11,407 )
7,265,558 5,272,324
Increase in trade and other debtors (161,511 ) (1,223,911 )
(Decrease)/increase in trade and other creditors (323,049 ) 3,402,115
Cash generated from operations 6,780,998 7,450,528

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 2024
31.3.24 1.4.23
£    £   
Cash and cash equivalents 2,297,860 601,080
Year ended 31 March 2023
31.3.23 1.4.22
£    £   
Cash and cash equivalents 601,080 1,626,626


3. ANALYSIS OF CHANGES IN NET DEBT

At 1.4.23 Cash flow At 31.3.24
£    £    £   
Net cash
Cash at bank and in hand 601,080 1,696,780 2,297,860
601,080 1,696,780 2,297,860
Debt
Debts falling due within 1 year (1,666,668 ) - (1,666,668 )
Debts falling due after 1 year (22,499,998 ) 1,666,668 (20,833,330 )
(24,166,666 ) 1,666,668 (22,499,998 )
Total (23,565,586 ) 3,363,448 (20,202,138 )

ELEANOR CARE HOMES HOLDINGS LIMITED (REGISTERED NUMBER: 13438798)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Eleanor Care Homes Holdings 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Long leasehold - in accordance with the property
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost and 25% on reducing balance
Motor vehicles - 25% on cost and 25% on reducing balance
Computer equipment - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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

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.


ELEANOR CARE HOMES HOLDINGS LIMITED (REGISTERED NUMBER: 13438798)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
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
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.

3. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 7,897,775 7,250,385
Social security costs 676,203 590,412
Other pension costs 122,019 122,974
8,695,997 7,963,771

The average number of employees during the year was as follows:
2024 2023

Administrative and direct staff 269 281

2024 2023
£    £   
Director's remuneration - -

4. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Hire of plant and machinery 31,476 26,498
Equipment hire 15,600 2,600
Depreciation - owned assets 626,614 783,929
Goodwill amortisation 1,897,956 1,164,204
Auditor's remuneration 23,841 15,130

ELEANOR CARE HOMES HOLDINGS LIMITED (REGISTERED NUMBER: 13438798)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank interest 1,746,594 939,116
Other interest 14,451 5,408
1,761,045 944,524

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 930,628 845,377

Deferred tax 196,810 (40,149 )
Tax on profit 1,127,438 805,228

Tax effects relating to effects of other comprehensive income

2024
Gross Tax Net
£    £    £   
Revaluation of freehold properties 57,248,034 - 57,248,034

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.


ELEANOR CARE HOMES HOLDINGS LIMITED (REGISTERED NUMBER: 13438798)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 April 2023 5,727,017
Additions 190,700
At 31 March 2024 5,917,717
AMORTISATION
At 1 April 2023 1,611,283
Amortisation for year 1,897,956
At 31 March 2024 3,509,239
NET BOOK VALUE
At 31 March 2024 2,408,478
At 31 March 2023 4,115,734

Company
Goodwill
£   
COST
At 1 April 2023 16,213,182
Additions 190,700
At 31 March 2024 16,403,882
AMORTISATION
At 1 April 2023 1,149,407
Amortisation for year 1,640,387
At 31 March 2024 2,789,794
NET BOOK VALUE
At 31 March 2024 13,614,088
At 31 March 2023 15,063,775

ELEANOR CARE HOMES HOLDINGS LIMITED (REGISTERED NUMBER: 13438798)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

9. TANGIBLE FIXED ASSETS

Group
Freehold Long Plant and
property leasehold machinery
£    £    £   
COST OR VALUATION
At 1 April 2023 17,288,256 450,005 2,082
Additions 5,760 - -
Disposals - - -
Revaluations 57,248,034 - -
At 31 March 2024 74,542,050 450,005 2,082
DEPRECIATION
At 1 April 2023 561,095 67,505 607
Charge for year 318,455 45,000 521
At 31 March 2024 879,550 112,505 1,128
NET BOOK VALUE
At 31 March 2024 73,662,500 337,500 954
At 31 March 2023 16,727,161 382,500 1,475

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 April 2023 823,535 817 7,493 18,572,188
Additions 1,117,689 - - 1,123,449
Disposals (1 ) - - (1 )
Revaluations - - - 57,248,034
At 31 March 2024 1,941,223 817 7,493 76,943,670
DEPRECIATION
At 1 April 2023 487,418 817 5,409 1,122,851
Charge for year 261,599 - 1,039 626,614
At 31 March 2024 749,017 817 6,448 1,749,465
NET BOOK VALUE
At 31 March 2024 1,192,206 - 1,045 75,194,205
At 31 March 2023 336,117 - 2,084 17,449,337

ELEANOR CARE HOMES HOLDINGS LIMITED (REGISTERED NUMBER: 13438798)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

9. TANGIBLE FIXED ASSETS - continued

Group

Cost or valuation at 31 March 2024 is represented by:

Freehold Long Plant and
property leasehold machinery
£    £    £   
Valuation in 2024 57,248,034 - -
Cost 17,294,016 450,005 2,082
74,542,050 450,005 2,082

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
Valuation in 2024 - - - 57,248,034
Cost 1,941,223 817 7,493 19,695,636
1,941,223 817 7,493 76,943,670

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 17,294,016 -
Aggregate depreciation (879,550 ) -

Freehold land and buildings were valued on an open market basis on 31 March 2024 by the directors .

10. FIXED ASSET INVESTMENTS

Group
Shares in
group
undertakings
£   
COST
At 1 April 2023 15,584,165
Additions 1
At 31 March 2024 15,584,166
NET BOOK VALUE
At 31 March 2024 15,584,166
At 31 March 2023 15,584,165

ELEANOR CARE HOMES HOLDINGS LIMITED (REGISTERED NUMBER: 13438798)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

10. FIXED ASSET INVESTMENTS - continued

Company
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 15,584,165
NET BOOK VALUE
At 31 March 2024 15,584,165
At 31 March 2023 15,584,165


11. STOCKS

Group
2024 2023
£    £   
Stocks 8,500 8,500

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade debtors 1,526,628 1,372,136 - -
Other debtors 78,413 5,456 1 1
Prepayments and accrued income 83,436 149,374 - -
1,688,477 1,526,966 1 1

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans and overdrafts (see note 15) 1,666,668 1,666,668 1,666,668 1,666,668
Trade creditors 366,343 258,293 - 50,575
Amounts owed to group undertakings 9,929,098 10,085,496 7,496,703 6,260,852
Tax 1,571,848 992,052 1,672 -
Social security and other taxes 107,034 260,545 - -
Other creditors 618,121 886,960 - -
Accruals and deferred income 573,968 420,463 1,269 59,789
14,833,080 14,570,477 9,166,312 8,037,884

ELEANOR CARE HOMES HOLDINGS LIMITED (REGISTERED NUMBER: 13438798)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

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

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans (see note 15) 20,833,330 22,499,998 20,833,330 22,499,998

15. LOANS

An analysis of the maturity of loans is given below:

Group Company
2024 2023 2024 2023
£    £    £    £   
Amounts falling due within one year or on demand:
Bank loans 1,666,668 1,666,668 1,666,668 1,666,668
Amounts falling due in more than five years:
Repayable by instalments
Bank loans 20,833,330 22,499,998 20,833,330 22,499,998

16. SECURED DEBTS

The following secured debts are included within creditors:

Group
2024 2023
£    £   
Bank loans 22,499,998 24,166,666

The bank loans are secured by a charge over the group's properties.

17. PROVISIONS FOR LIABILITIES

Group
2024 2023
£    £   
Deferred tax 248,579 51,769

Group
Deferred
tax
£   
Balance at 1 April 2023 51,769
Charge to Income Statement during year 196,810
Balance at 31 March 2024 248,579

ELEANOR CARE HOMES HOLDINGS LIMITED (REGISTERED NUMBER: 13438798)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

18. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1 1 1

19. RESERVES

Group
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 April 2023 2,163,537 - 2,163,537
Profit for the year 1,855,125 1,855,125
Arising in the year - 57,248,034 57,248,034
At 31 March 2024 4,018,662 57,248,034 61,266,696


20. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M V Santhiapillai.