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Registration number: 09015098

Alina Care Limited

Annual Report and Financial Statements

for the Year Ended 30 April 2024

 

Alina Care Limited

Contents

Company Information

1

Directors' Report

2

Strategic Report

3

Statement of Directors' Responsibilities

4

Independent Auditor's Report

5 to 7

Profit and Loss Account

8

Balance Sheet

9

Statement of Changes in Equity

10

Notes to the Financial Statements

11 to 20

 

Alina Care Limited

Company Information

Directors

J R Deeley

K F Ford

F A Kee

J C Pickford

P J Steadman

Company secretary

P J Steadman

Registered office

Manor House
Church Street
Leatherhead
Surrey
KT22 8DN

Solicitors

Harrison Clark Rickerbys Limited
5 Deansway
Worcester
Worcestershire
WR1 2JG

Auditors

Hazlewoods LLP
Windsor House
Bayshill Road
Cheltenham
GL50 3AT

 

Alina Care Limited

Directors' Report for the Year Ended 30 April 2024

The directors present their report and the financial statements for the year ended 30 April 2024.

Directors of the company

The directors who held office during the year were as follows:

J R Deeley

K F Ford

F A Kee

J C Pickford

P J Steadman

Financial instruments

Objectives and policies

The board constantly monitors the company's trading results and revise projections as appropriate to ensure that the group can meet its future obligations as they fall due.

Price risk, credit risk, liquidity risk and cash flow risk

The company is exposed to the usual credit and cash flow risk associated with selling on credit and manages this through credit control procedures. The company’s bank loans are subject to price and liquidity risk as disclosed in note 16 to the financial statements

The company has sufficient financial resources available and the directors have considered the likely future performance of the business and expect that this will continue to be the case. The directors therefore have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and have continued to adopt the going concern basis in preparing the financial statements.

Future developments

Future prospects remain strong, underpinned by both the ageing population and ongoing Government policy of promoting care in the community. Whilst the short term environment is expected to remain competitive the directors remain confident that the company will continue to improve its current level of performance in the future and will continue to trade as a going concern.

Disclosure of information to the auditors

Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.

Reappointment of auditors

Hazlewoods LLP have expressed their willingness to continue in office.

Approved by the Board on 29 October 2024 and signed on its behalf by:


P J Steadman
Director

 

Alina Care Limited

Strategic Report for the Year Ended 30 April 2024

The directors present their strategic report for the year ended 30 April 2024.

Fair review of the business

The results for the year, which are set out in the profit and loss account, show turnover of £2,679,413 (2023 - £2,032,286) and a profit before tax of £17,076,436 (2023 - loss before tax £2,043,315). At 30 April 2024, the company had total assets less current liabilities of £24,281,242 (2023 - £5,934,293). The directors consider the performance for the year and the financial position at the year end to be satisfactory.

As part of the management accounts, the directors use Key Performance Indicators (‘KPIs’) to assist in the understanding of the development, performance of its subsidaries and position of the business of the group. The KPIs used by the company to measure the performance include group divisional revenue, adjusted operating profit, adjusted operating margin, hours of care provided, new care contracts won, Care Quality Commission (CQC) ratings and operating cash flow conversion.

Principal risks and uncertainties

The management of the business and the execution of the strategy of the group to which the company belongs are subject to a number of risks. The key business risks and uncertainties affecting the company are considered to relate to ongoing compliance with current and future legislation affecting the sector.

Approved by the Board on 29 October 2024 and signed on its behalf by:


P J Steadman
Director

 

Alina Care Limited

Statement of Directors' Responsibilities

The directors are responsible for preparing the Directors' Report, Strategic Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have 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 directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

select suitable accounting policies and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

state whether applicable UK Accounting Standards has been followed, subject to any material departures disclosed and explained in the financial statements; and

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

 

Alina Care Limited

Independent Auditor's Report to the Members of Alina Care Limited

Opinion

We have audited the financial statements of Alina Care Limited (the 'company') for the year ended 30 April 2024, which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity, and 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 company's affairs as at 30 April 2024 and of its 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 auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company 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 directors' 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 company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

 

Alina Care Limited

Independent Auditor's Report to the Members of Alina Care Limited

Opinion on other matter 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 Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.

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, or returns adequate for our audit have not been received from branches not visited by us; or

the financial statements are not in agreement with the accounting records and returns; or

certain disclosures of directors' remuneration specified by law are not made; or

we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page 4, the directors are 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 directors determine is 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 directors are responsible for assessing the 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 directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor’s 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 an auditor’s report 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.

Extent to which the audit was capable of detecting irregularities, including fraud

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 are capable of detecting irregularities, including fraud is detailed below:

We considered the nature of the company’s industry and its control environment and reviewed the company’s documentation of their policies and procedures relating to fraud and compliance with laws and regulations. We also enquired of management about their own identification and assessment of the risks of irregularities.

We obtained an understanding of the legal and regulatory framework that the company operates in and identified the key laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements, including the UK Companies Act and tax legislation, and, those 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.

We discussed among the audit engagement team regarding the opportunities and incentives that may exist within the organisation for fraud and how and where fraud might occur in the financial statements.

 

Alina Care Limited

Independent Auditor's Report to the Members of Alina Care Limited

In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments; assessed whether the judgments made in accounting estimates are indicative of a potential bias; and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business.

In addition to the above, our procedures to respond to the risks identified included the following:

reviewing financial statement disclosures by testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;

performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatements due to fraud;

enquiring of management concerning actual and potential litigation and claims and instances of non-compliance with laws and regulations; and

reading minutes of meetings of those charged with governance.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed 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 are to become aware of it.

A further description of our responsibilities is available on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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 an auditor’s report 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.





Joanne Hartness (Senior Statutory Auditor)
For and on behalf of Hazlewoods LLP, Statutory Auditor

Windsor House
Bayshill Road
Cheltenham
GL50 3AT

30 October 2024

 

Alina Care Limited

Profit and Loss Account for the Year Ended 30 April 2024

Note

2024
 £

2023
 £

Turnover

 

2,679,413

2,032,286

Administrative expenses

 

(2,295,422)

(2,043,689)

Exceptional items

5

(405,986)

(2,463)

Operating loss

4

(21,995)

(13,866)

Other interest receivable and similar income

6

19,454,323

90,267

Interest payable and similar charges

7

(2,355,892)

(2,119,716)

Profit/(loss) before tax

 

17,076,436

(2,043,315)

Taxation

11

(17,596)

-

Profit/(loss) for the financial year

 

17,058,840

(2,043,315)

The above results were derived from continuing operations.

 

Alina Care Limited

(Registration number: 09015098)
Balance Sheet as at 30 April 2024

Note

2024
 £

2023
 £

Fixed assets

 

Tangible assets

12

12,311

8,496

Investments

13

5,468,221

5,468,221

 

5,480,532

5,476,717

Current assets

 

Debtors: Amounts falling due within one year

14

947,834

1,430,106

Debtors: Amounts falling due after more than one year

14

20,236,048

1,237,323

Cash at bank and in hand

 

37,786

36,301

 

21,221,668

2,703,730

Creditors: Amounts falling due within one year

15

(2,420,958)

(2,246,154)

Net current assets

 

18,800,710

457,576

Total assets less current liabilities

 

24,281,242

5,934,293

Creditors: Amounts falling due after more than one year

15

23,659,626

20,224,749

Capital and reserves

 

Called up share capital

18

1

1

Profit and loss account

621,615

(14,290,457)

Total equity

 

621,616

(14,290,456)

Total capital, reserves and long term liabilities

 

24,281,242

5,934,293

Approved and authorised by the Board on 29 October 2024 and signed on its behalf by:
 


P J Steadman
Director

 

Alina Care Limited

Statement of Changes in Equity for the Year Ended 30 April 2024

Share capital
£

Profit and loss account
£

Total
£

At 1 May 2023

1

(14,290,457)

(14,290,456)

Profit for the year

-

17,058,840

17,058,840

Dividends

-

(2,146,768)

(2,146,768)

At 30 April 2024

1

621,615

621,616

Share capital
£

Profit and loss account
£

Total
£

At 1 May 2022

1

(12,247,142)

(12,247,141)

Loss for the year

-

(2,043,315)

(2,043,315)

At 30 April 2023

1

(14,290,457)

(14,290,456)

 

Alina Care Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

 

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Manor House
Church Street
Leatherhead
Surrey
KT22 8DN

 

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Summary of disclosure exemptions

The company has not presented a cash flow statement on the grounds that the company is a wholly owned subsidiary and a group cash flow statement is included in the financial statements of the parent company.

Name of parent of group

These financial statements are consolidated in the financial statements of Alina Care Holdings Limited.

The financial statements of Alina Care Holdings Limited may be obtained from Companies House.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Judgements and estimation uncertainty

These financial statements do not contain any significant judgements or estimation uncertainty.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for management services provided to subsidiary companies.

 

Alina Care Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold improvements

Over the life of the lease

Office equipment

33.33% straight line

Furniture and fittings

20% straight line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

 

Alina Care Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 

Alina Care Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

Financial instruments (continued)

Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

The recoverable amount of goodwill is derived from measurement of the present value of the future cash flows of the cash-generating units ('CGUs') of which the goodwill is a part. Any impairment loss in respect of a CGU is allocated first to the goodwill attached to that CGU, and then to other assets within that CGU on a pro-rata basis.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. Where a reversal of impairment occurs in respect of a CGU, the reversal is applied first to the assets (other than goodwill) of the CGU on a pro-rata basis and then to any goodwill allocated to that CGU.

For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

 

3

Turnover

The analysis of the company's revenue for the year from continuing operations is as follows:

2024
£

2023
£

Management charges receivable

2,679,413

2,032,286

 

4

Operating profit

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

9,849

8,342

Operating lease expense - property

44,045

40,882

 

5

Exceptional items

2024
 £

2023
 £

Exceptional expenses

405,986

2,463

Exceptional costs in both the current and prior year comprise one-off legal and professional fees.

 

Alina Care Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

 

6

Other interest receivable and similar income

2024
£

2023
£

Interest income from group undertakings

512,328

90,267

Interest income on bank deposits

21,995

-

Dividend income

18,920,000

-

19,454,323

90,267

 

7

Interest payable and similar expenses

2024
£

2023
£

Other finance costs adjacent to interest costs

246,047

333,897

Interest on bank loans

745,023

719,717

Interest payable on loans from group undertakings

1,364,822

1,066,102

2,355,892

2,119,716

 

8

Staff costs

The aggregate payroll costs (including directors' remuneration) were as follows:

2024
 £

2023
 £

Wages and salaries

1,312,567

1,065,083

Social security costs

145,610

155,516

Pension costs, defined contribution scheme

20,806

20,308

1,478,983

1,240,907

The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:

2024
 No.

2023
 No.

Administration and support

24

24

 

9

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

513,396

499,383

Contributions paid to money purchase schemes

1,320

1,321

514,716

500,704

During the year the number of directors who were receiving benefits and share incentives was as follows:

2024
No.

2023
No.

Accruing benefits under money purchase pension scheme

1

1

In respect of the highest paid director:

2024
£

2023
£

Remuneration

238,886

204,633

 

Alina Care Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

 

10

Auditors' remuneration

2024
£

2023
£

Audit of the financial statements

1,700

7,000

Other fees to auditors

All other non-audit services

2,150

-

11

Taxation

Tax charged/(credited) in the profit and loss account

2024
£

2023
£

Current taxation

UK corporation tax adjustment to prior periods

17,596

-

The tax on profit before tax for the year is lower than the standard rate of corporation tax in the UK (2023 - higher than the standard rate of corporation tax in the UK) of 25% (2023 - 19%).

The differences are reconciled below:

2024
£

2023
£

Profit/(loss) before tax

17,076,436

(2,043,315)

Corporation tax at standard rate

4,269,109

(388,230)

Effect of expense not deductible in determining taxable profit (tax loss)

8,105

931

Increase in UK and foreign current tax from unrecognised temporary difference from a prior period

17,596

-

Tax decrease from effect of capital allowances and depreciation

(1,578)

(1,349)

Tax increase arising from group relief

454,364

388,648

Tax decrease from effect of dividends from UK companies

(4,730,000)

-

Total tax charge

17,596

-

 

Alina Care Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

 

12

Tangible assets

Leasehold improvements
£

Fixtures and fittings
 £

Office equipment
 £

Total
£

Cost

At 1 May 2023

1,872

560

31,590

34,022

Additions

-

-

13,664

13,664

Disposals

(1,872)

(560)

(18,838)

(21,270)

At 30 April 2024

-

-

26,416

26,416

Depreciation

At 1 May 2023

1,872

560

23,094

25,526

Charge for the year

-

-

9,849

9,849

Eliminated on disposal

(1,872)

(560)

(18,838)

(21,270)

At 30 April 2024

-

-

14,105

14,105

Carrying amount

At 30 April 2024

-

-

12,311

12,311

At 30 April 2023

-

-

8,496

8,496

 

13

Investments in subsidiaries

2024
£

2023
£

Investments in subsidiaries

5,468,221

5,468,221

Subsidiaries

£

Cost

At 1 May 2023 and at 30 April 2024

8,745,051

Provision

At 1 May 2023

3,276,830

Provision in the year

-

At 30 April 2024

3,276,830

Carrying amount

At 30 April 2024

5,468,221

At 30 April 2023

5,468,221

 

Alina Care Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2024

2023

Subsidiary undertakings

Alina Homecare Limited

Ordinary

100%

100%

 

England and Wales

     

Alina Homecare Stevenage Limited

Ordinary

100%

100%

 

England and Wales

     

Alina Homecare Bromsgrove Limited

Ordinary

100%

100%

 

England and Wales

     

Alina Homecare Barnet Limited

Ordinary

100%

100%

 

England and Wales

     

TCD (Holdings) Limited

Ordinary

100%

100%

 

England and Wales

     

Alina Homecare Specialist Care Limited *

Ordinary

100%

100%

 

England and Wales

     

MyDiary Software Limited *

Ordinary

100%

100%

 

England and Wales

     

Alina Homecare Services Limited

Ordinary

100%

100%

 

England and Wales

     

* indirectly held

The principal activity of TCD (Holdings) Limited is that of a holding company. The principal activity of Alina Homecare Specialist Care Limited is the provision of supported living services. The principal activity of MyDiary Software Limited is the provision of on-line reporting facilities to the care sector. The principal activity of Alina Homecare Barnet Limited is that of a dormant company. The principal activity of all other subsidiaries is the provision of domiciliary care services.

All subsidiary companies have the same registered office as Alina Care Limited.

 

14

Debtors

2024
 £

2023
 £

Other debtors

824,660

1,393,804

Prepayments

123,174

36,302

Amounts owed by group undertakings

20,236,048

1,237,323

 

21,183,882

2,667,429

Less non-current portion

(20,236,048)

(1,237,323)

Total current trade and other debtors

947,834

1,430,106

Details of non-current trade and other debtors

£20,236,048 (2023 - £1,237,323) of amounts owed by group undertakings is classified as non-current.

 

Alina Care Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

 

15

Creditors

Note

2024
 £

2023
 £

Due within one year

 

Loans and borrowings

16

880,723

798,933

Trade creditors

 

57,197

37,937

Amounts due to group undertakings

 

1,070,299

1,070,299

Social security and other taxes

 

78,366

73,595

Outstanding defined contribution pension costs

 

3,797

4,077

Accrued expenses

 

330,576

261,313

 

2,420,958

2,246,154

Due after one year

 

Loans and borrowings

16

6,463,081

8,843,389

Amounts owed to group undertakings

 

17,196,545

11,381,360

 

23,659,626

20,224,749

 

16

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

880,723

798,933

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

6,463,081

8,843,389

The bank loans consist of a revolving facility A and a revolving facility B bank loan and are over a 4 year period repayable in annual instalments starting 12 months after the initial draw down date. Interest is charged on the loans at the aggregate of the margin, being 3.75%; and the compounded reference rate for that day. The loans are secured by fixed and floating charges over the companies' properties and assets.

The bank loans of £7,343,804 (2023 - £9,687,035) are stated after deducting £156,196 (2023 - £312,965) of costs associated with the raising of this finance which are being released to the profit and loss account over the term of the debt in accordance with FRS 102. The bank loan gross of debt costs was £7,500,000 (2023 - £10,000,000).

 

17

Pension and other schemes

Defined contribution pension scheme

The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £20,806 (2023 - £20,308).

Contributions totalling £3,797 (2023 - £4,077) were payable to the scheme at the end of the year and are included in creditors.

 

Alina Care Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

 

18

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

       
 

19

Dividends

2024
 £

2023
 £

Dividends paid

2,146,768

-

 

20

Related party transactions

During the year the company made the following related party transactions:

During the year, the Group incurred monitoring fees of £36,000 (2023 - £36,000) payable to Bridges Fund Management Limited, its ultimate controlling party.

Summary of transactions with key management

Key management personnel are considered to be the directors of the company and key management personnel compensation is disclosed in note 9 to the financial statements.

Loans to related parties

Key management
£

At 1 May 2023

1,051,927

Repaid

(569,144)

At 30 April 2024

482,783

The loans to key management were interest free until 31 December 2023. Since that date, interest accrues at the equivalent rate charged on bank loans. There are no set repayment terms. The maximum loan amount during the year was £1,051,927.

 

21

Parent and ultimate parent undertaking

The ultimate parent is Alina Care Holdings Limited, incorporated in England and Wales.

 The ultimate controlling party is Bridges Fund Management Limited, a company registered in England and Wales.