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REGISTERED NUMBER: 14033611 (England and Wales)















Group Strategic Report, Report of the Director and

Consolidated Financial Statements for the Year Ended 31 July 2024

for

Roche Homecare Limited

Roche Homecare Limited (Registered number: 14033611)






Contents of the Consolidated Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Director 4

Report of the Independent Auditors 7

Consolidated Income Statement 11

Consolidated Other Comprehensive Income 12

Consolidated Balance Sheet 13

Company Balance Sheet 14

Consolidated Statement of Changes in Equity 15

Company Statement of Changes in Equity 16

Consolidated Cash Flow Statement 17

Notes to the Consolidated Cash Flow Statement 18

Notes to the Consolidated Financial Statements 19


Roche Homecare Limited

Company Information
for the Year Ended 31 July 2024







DIRECTOR: P J Roche





REGISTERED OFFICE: Unit 1 Manor Court
Manor Hill Lane
Leeds
United Kingdom
LS11 8LQ





REGISTERED NUMBER: 14033611 (England and Wales)





AUDITORS: Richard Smedley Limited
Chartered Accountants & Registered Auditors
Richmond House
Lawnswood Business Park
Redvers Close
Leeds
West Yorkshire
LS16 6QY

Roche Homecare Limited (Registered number: 14033611)

Group Strategic Report
for the Year Ended 31 July 2024

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

REVIEW OF BUSINESS
The director's review is consistent with the size and nature of the group and is written in the context of the risks and uncertainties faced by the company.
The director considers the company's key performance indicators are those that communicate the financial performance and strength of the company as a whole, these being:

Turnover
Occupancy level
Fee levels within the care homes
Staff and agency costs
Ratings received on the company's care homes from the Care Quality Commission (CQC).

During the year, turnover has increased from £12.6m in 2023 to £13.4m in 2024.

Below are further key performance indicators of the Group:

Gross profit margin: 2024 - 35.11% (2023 - 36.80%)

Net profit margin: 2024 - 9.51% (2023 - 11.22%)

Working capital: 2024 - 333.61% (2023 - 287.33%)

Gearing: 2024 - 6.86% (2023 - 8.50%)

The director and senior management team regularly assesses the key performance indicators that they use to run and monitor the group including, where appropriate, non-financial indicators. These include turnover per employee, operating profit per employee, earnings per bed and occupancy rates. All these indicators relate to the provision of care.

In the year fee levels have increased at all the nursing homes. The director has made steps to improve occupancy levels by additional advertising and continued updating of the nursing homes.

Payroll costs have increased this year inline with the increased turnover. The director continues to monitor both occupancy levels and payroll costs closely, with particular efforts being made to reduce the levels of agency staff and instead employ and train permanent employees. The company is also looking into further initiatives to improve the ongoing cost savings within the business.

In relation to quality ratings assessed by CQC, the director is pleased to report that in the most recent reviews the care homes were meeting the required standards..

At the year end there was an overall operating profit of £1,392,352 compared to an operating profit of £1,889,471 in 2023.


Roche Homecare Limited (Registered number: 14033611)

Group Strategic Report
for the Year Ended 31 July 2024

PRINCIPAL RISKS AND UNCERTAINTIES
The main short term trading risks facing the business are as follows:

The company is exposed to a number of risks including occupancy rates, pressure on rates of income from local authorities and availability of suitably qualified staff. The principal risks and how we mitigate them are explained below.

Competition- the company is aware of the competitive pressure in the UK. The company responds to this pressure by continuously upgrading its nursing homes and providing the best care available to the residents.


Interest rate risk-the company is financed by loans that are at a fixed rate and LIBOR rate. It therefore is subject to fluctuations in the bank base rate. The company manages this by monitoring and ensuring sufficient liquidity to meet any increases in the bank base rate.


Liquidity Risk - Liquidity risk is the risk that the company will not be able to meet its financial obligations as they fall due. The company seeks to manage liquidity risk by ensuring sufficient liquidity is available to meet foreseeable needs via weekly cashflow forecasts, and to invest cash assets safely and profitably. Short-term flexibility is achieved by an overdraft facility. The overall cash balance and net assets have increased from the previous year.

Going concern- The director and management have recognised the principal risks and uncertainties which could affect the business and have considered the extent to which they may materialise.
Consequently the company has implemented procedures and policies which will mitigate the risks as much as possible and ensure the company continues to trade throughout these uncertain economic conditions. The company is well placed to deal with the difficulties all companies are incurring during this difficult time.

ON BEHALF OF THE BOARD:





P J Roche - Director


13 March 2025

Roche Homecare Limited (Registered number: 14033611)

Report of the Director
for the Year Ended 31 July 2024

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

PRINCIPAL ACTIVITIES
The principal activities of the group in the year under review were those of nursing homes, domiciliary care and training in the UK.

DIVIDENDS
Interim dividends per share were paid as follows:
Ordinary £1 shares £111,200 - 1 August 2023
£55,600 - 6 April 2024
£85,000 - 30 April 2024
£251,800

Preference £1 shares £10,000 - 11 June 2024



The director recommends that no final dividends be paid.

The total distribution of dividends for the year ended 31 July 2024 will be £ 261,800 .

FUTURE DEVELOPMENTS
The director remains optimistic about future developments and intends to continue to expand the company's operations and profits, whilst maintaining consistent pressure on costs and making greater efficiencies within the business whilst maintaining a high quality of care.

The director and management have recognised the principal risks and uncertainties which could affect the business and have considered the extent to which they may materialise.
Consequently the company has implemented procedures and policies which will mitigate the risks as much as possible and ensure the company continues to trade throughout these uncertain economic conditions.

DIRECTOR
P J Roche held office during the whole of the period from 1 August 2023 to the date of this report.

PRINCIPAL RISKS AND UNCERTAINTIES
The company is exposed to a number of risks which are listed below and reference in further detail within the Group Strategic Report:

Competition risk

Interest rate risk

Liquidity risk

Going concern risk


Roche Homecare Limited (Registered number: 14033611)

Report of the Director
for the Year Ended 31 July 2024

EMPLOYEE MATTERS
Employment of disabled persons
The company operates an equal opportunities policy. Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled every effort is made to ensure that their employment with the company continues and that appropriate training is arranged. It is the policy of the company that training, career development and promotion of disabled persons should, as far as possible, be identical with that of other employees.

The principles of the company policies are brought to the attention of all staff by means of the Company's Employee Handbook. Matters of concern to employees can be found in the Employee Handbook. Views of employees are welcomed by the management and are discussions held where it is considered appropriate.

Employee involvement
The group's employment policies are designed to attract, retain and motivate the best people. The group involves employees at all levels of the organisation through a broad base of regular communication and briefing sessions to understand current performance and communicate future developments.

Employee engagement
The health and safety of our employees is a primary focus. The working environment is important to the director both from a health and safety perspective and a holistic one.

Policies are in place and significant training is undertaken to ensure that the group has a fair and robust recruitment process and the culture of equality and diversity is maintained.

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;
- 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.

Roche Homecare Limited (Registered number: 14033611)

Report of the Director
for the Year Ended 31 July 2024


AUDITORS
The auditors, Richard Smedley Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





P J Roche - Director


13 March 2025

Report of the Independent Auditors to the Members of
Roche Homecare Limited

Opinion
We have audited the financial statements of Roche Homecare Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 July 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 July 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
Roche Homecare 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 five, 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
Roche Homecare 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.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- We identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and sector experience;
- We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements, including the Companies Act 2006, UK Corporate Governance, the Care Quality Commission (CQC) and taxation legislation. The company is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on the financial statements, for instance through the imposition of fines, penalties or litigation such as employment, environmental, health and safety and building regulations;
- We asses the external compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
- Identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

Making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

To address the risk of fraud through management bias and override of controls, we:

- Performed analytical procedures to identify any unusual or unexpected relationships;
- Tested journal entries to identify unusual transactions;
- Assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
- Investigated the rationale behind any significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- Agreeing financial statements disclosures to underlying supporting documentation
- Enquiring of management as to actual and potential litigation and claims;
- Reviewing correspondence with HMRC and relevant regulators websites for notice of any breaches; and
- Review of relevant legal or professional costs within the accounting records for any evidence of previously undetected or unreported instances of non-compliance.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from the financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of directors and other management and the inspection of regulatory and legal correspondence, if any.

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.

Report of the Independent Auditors to the Members of
Roche Homecare Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Richard Smedley (Senior Statutory Auditor)
for and on behalf of Richard Smedley Limited
Chartered Accountants & Registered Auditors
Richmond House
Lawnswood Business Park
Redvers Close
Leeds
West Yorkshire
LS16 6QY

13 March 2025

Roche Homecare Limited (Registered number: 14033611)

Consolidated Income Statement
for the Year Ended 31 July 2024

31.7.24 31.7.23
Notes £    £   

TURNOVER 3 13,355,767 12,563,478

Cost of sales 8,665,926 7,939,695
GROSS PROFIT 4,689,841 4,623,783

Administrative expenses 3,329,054 2,923,893
1,360,787 1,699,890

Other operating income 31,565 189,581
OPERATING PROFIT 5 1,392,352 1,889,471

Interest receivable and similar income 20,933 18,912
1,413,285 1,908,383
Gain/loss on revaluation of assets (93,973 ) 93,973
1,319,312 2,002,356

Interest payable and similar expenses 6 49,047 89,553
PROFIT BEFORE TAXATION 1,270,265 1,912,803

Tax on profit 7 346,599 503,326
PROFIT FOR THE FINANCIAL YEAR 923,666 1,409,477
Profit attributable to:
Owners of the parent 923,666 1,409,477

Roche Homecare Limited (Registered number: 14033611)

Consolidated Other Comprehensive Income
for the Year Ended 31 July 2024

31.7.24 31.7.23
Notes £    £   

PROFIT FOR THE YEAR 923,666 1,409,477


OTHER COMPREHENSIVE INCOME
Property revaluations 94,897 93,973
Non-distributable reserves (94,897 ) (93,973 )
Income tax relating to components of other
comprehensive income

-

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

-

-
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

923,666

1,409,477

Total comprehensive income attributable to:
Owners of the parent 923,666 1,409,477

Roche Homecare Limited (Registered number: 14033611)

Consolidated Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 10,064,618 10,155,742
Investments 12 431,475 160,825
10,496,093 10,316,567

CURRENT ASSETS
Stocks 13 19,164 19,164
Debtors 14 6,148,001 5,450,330
Cash at bank and in hand 419,587 1,186,391
6,586,752 6,655,885
CREDITORS
Amounts falling due within one year 15 1,974,400 2,316,441
NET CURRENT ASSETS 4,612,352 4,339,444
TOTAL ASSETS LESS CURRENT
LIABILITIES

15,108,445

14,656,011

CREDITORS
Amounts falling due after more than one year 16 (924,315 ) (1,162,363 )

PROVISIONS FOR LIABILITIES 20 (330,963 ) (302,347 )
NET ASSETS 13,853,167 13,191,301

CAPITAL AND RESERVES
Called up share capital 21 3,119,101 3,119,101
Non-distributable reserve 22 2,989,660 3,083,633
Retained earnings 22 7,744,406 6,988,567
SHAREHOLDERS' FUNDS 13,853,167 13,191,301

The financial statements were approved by the director and authorised for issue on 13 March 2025 and were signed by:





P J Roche - Director


Roche Homecare Limited (Registered number: 14033611)

Company Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 304,485 345,677
Investments 12 3,119,101 3,119,101
3,423,586 3,464,778

CURRENT ASSETS
Stocks 13 2,699 2,699
Debtors 14 4,912,909 4,520,491
Cash at bank and in hand 196,325 379,715
5,111,933 4,902,905
CREDITORS
Amounts falling due within one year 15 5,184,309 5,005,170
NET CURRENT LIABILITIES (72,376 ) (102,265 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,351,210

3,362,513

PROVISIONS FOR LIABILITIES 20 36,921 44,086
NET ASSETS 3,314,289 3,318,427

CAPITAL AND RESERVES
Called up share capital 21 3,119,101 3,119,101
Non-distributable reserve 22 - 1,600
Retained earnings 22 195,188 197,726
SHAREHOLDERS' FUNDS 3,314,289 3,318,427

Company's profit for the financial year 257,662 478,326

The financial statements were approved by the director and authorised for issue on 13 March 2025 and were signed by:





P J Roche - Director


Roche Homecare Limited (Registered number: 14033611)

Consolidated Statement of Changes in Equity
for the Year Ended 31 July 2024

Called up
share Retained Non-distributable Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 August 2022 3,119,101 5,979,863 2,989,660 12,088,624

Changes in equity
Dividends - (306,800 ) - (306,800 )
Total comprehensive income - 1,315,504 93,973 1,409,477
Balance at 31 July 2023 3,119,101 6,988,567 3,083,633 13,191,301

Changes in equity
Dividends - (261,800 ) - (261,800 )
Total comprehensive income - 1,017,639 (93,973 ) 923,666
Balance at 31 July 2024 3,119,101 7,744,406 2,989,660 13,853,167

Roche Homecare Limited (Registered number: 14033611)

Company Statement of Changes in Equity
for the Year Ended 31 July 2024

Called up
share Retained Non-distributable Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 August 2022 1 - - 1

Changes in equity
Issue of share capital 3,119,100 - - 3,119,100
Dividends - (279,000 ) - (279,000 )
Total comprehensive income - 476,726 1,600 478,326
Balance at 31 July 2023 3,119,101 197,726 1,600 3,318,427

Changes in equity
Dividends - (261,800 ) - (261,800 )
Total comprehensive income - 259,262 (1,600 ) 257,662
Balance at 31 July 2024 3,119,101 195,188 - 3,314,289

Roche Homecare Limited (Registered number: 14033611)

Consolidated Cash Flow Statement
for the Year Ended 31 July 2024

31.7.24 31.7.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 803,064 503,794
Interest paid (49,047 ) (89,553 )
Tax paid (518,836 ) (253,650 )
Net cash from operating activities 235,181 160,591

Cash flows from investing activities
Purchase of tangible fixed assets (421,360 ) (701,766 )
Purchase of fixed asset investments (270,650 ) (56,950 )
Sale of tangible fixed assets 27,748 371,866
Interest received 20,933 18,912
Net cash from investing activities (643,329 ) (367,938 )

Cash flows from financing activities
Loan repayments in year (270,742 ) (278,188 )
Capital repayments in year - (14,257 )
Amount introduced by directors 1,745,727 120,900
Amount withdrawn by directors (1,571,841 ) (81,213 )
Share issue - 1
Equity dividends paid (261,800 ) (306,800 )
Net cash from financing activities (358,656 ) (559,557 )

Decrease in cash and cash equivalents (766,804 ) (766,904 )
Cash and cash equivalents at beginning of
year

2

1,186,391

1,953,295

Cash and cash equivalents at end of year 2 419,587 1,186,391

Roche Homecare Limited (Registered number: 14033611)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 31 July 2024

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

31.7.24 31.7.23
£    £   
Profit before taxation 1,270,265 1,912,803
Depreciation charges 389,598 357,685
Loss on disposal of fixed assets 1,165 16,519
Loss/(gain) on revaluation of fixed assets 93,973 (93,973 )
Finance costs 49,047 89,553
Finance income (20,933 ) (18,912 )
1,783,115 2,263,675
Increase in trade and other debtors (870,937 ) (1,796,639 )
(Decrease)/increase in trade and other creditors (109,114 ) 36,758
Cash generated from operations 803,064 503,794

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 July 2024
31.7.24 1.8.23
£    £   
Cash and cash equivalents 419,587 1,186,391
Year ended 31 July 2023
31.7.23 1.8.22
£    £   
Cash and cash equivalents 1,186,391 1,953,295


3. ANALYSIS OF CHANGES IN NET DEBT

At 1.8.23 Cash flow At 31.7.24
£    £    £   
Net cash
Cash at bank and in hand 1,186,391 (766,804 ) 419,587
1,186,391 (766,804 ) 419,587
Debt
Debts falling due within 1 year (279,956 ) 32,695 (247,261 )
Debts falling due after 1 year (1,162,363 ) 238,048 (924,315 )
(1,442,319 ) 270,743 (1,171,576 )
Total (255,928 ) (496,061 ) (751,989 )

Roche Homecare Limited (Registered number: 14033611)

Notes to the Consolidated Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Roche Homecare 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.

The financial statements are prepared in sterling, which is the functional currency of the group.

The consolidated financial statements incorporate those of Roche Homecare Limited and all of its subsidiaries (i.e. entities that the group controls through its power to govern the financial and operating policies so as to obtain economic benefits).

Basis of consolidation
On 30 September 2022, Roche Homecare Limited purchased 100% of the shares in Roche Healthcare Limited via a share for share exchange. As such, the consolidated accounts qualified for Merger Relief and so have been prepared using Merger Accounting.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the group's accounting policies, which are described in note 2, the director is required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future projects.

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

Turnover comprises the value of sales (excluding any taxes and trade discounts) of goods and services provided in the normal course of business. Revenue is recognised when the service is provided.

In respect of contracts for on-going services, turnover represents the value of work done in the year, including calculated estimates of work not invoiced.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 1997, is being amortised evenly over its estimated useful life of twenty years.

The carrying value of the goodwill is now £nil (2023 - £nil).

Roche Homecare Limited (Registered number: 14033611)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 July 2024

2. ACCOUNTING POLICIES - continued

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 - 1% on cost
Fixtures and fittings - 20% on cost and 10% on cost
Motor vehicles - 25% on cost and 25% on reducing balance
Computer equipment - 33% on cost, 25% on cost and 20% on cost

Government grants
During the year, the group received grants totalling £5,214.

These grants were recognised on the accruals model.

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

Financial instruments
All financial assets and financial liabilities are initially measured at transaction price (including transactions costs), except for those financial assets classified as 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 future payments discounted at a market rate of interest similar to debt interest.


Financial assets are derecognised when, and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the company, despite having retained some significant risks and rewards of ownership, has transferred control of the asset to another party and the other party has the practical ability to seel the asset in its entirety to an unrelated third party and is able to to exercise that ability unilaterally and without needing to impose additional restrictions on the the transfer.

Financial liabilities are derecognised only when the obligation specified in the contracts is discharged, cancelled or expires.

Derivative instruments
Derivative financial instruments are initially measured at fair value on the date on which a derivative contract is entered into and are subsequently measured at fair value through profit or loss. Derivatives are carried as assets when the fair value is positive and as liabilities when the fair value is negative.
Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less. For the purpose of the cash flow statement, cash and cash equivalents consist of cash and cash equivalents as defined above, net of outstanding bank overdrafts.
Short-term debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in other operating expenses.


Roche Homecare Limited (Registered number: 14033611)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 July 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Going concern
In carrying out their duties in respect of going concern, the directors have carried out a review of the group's financial position for a period of 12 months from the date of signing these financial statements. These have been based on a comprehensive review of revenue, the expenditure and cash position. The group currently meets its day-to-day working capital requirements through its cash balance, which is sufficient to cover working capital requirements.

Having taken all of the above factors into consideration, the directors have reached a conclusion that the group is able to manage its business risk. Thus, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Roche Homecare Limited (Registered number: 14033611)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 July 2024

3. TURNOVER

The turnover and profit before taxation are attributable to the principal activities of the group.

An analysis of turnover by class of business is given below:

31.7.24 31.7.23
£    £   
Nursing homes 10,011,093 9,793,562
Domiciliary care 3,245,983 2,691,099
Training 98,691 78,817
13,355,767 12,563,478

An analysis of turnover by geographical market is given below:

31.7.24 31.7.23
£    £   
United Kingdom 13,355,767 12,563,478
13,355,767 12,563,478

4. EMPLOYEES AND DIRECTORS
31.7.24 31.7.23
£    £   
Wages and salaries 8,518,042 7,721,247
Social security costs 617,093 477,356
Other pension costs 271,089 79,709
9,406,224 8,278,312

The average number of employees during the year was as follows:
31.7.24 31.7.23

Administration 24 25
Nursing homes and domiciliary care 428 411
452 436

The average number of employees by undertakings that were proportionately consolidated during the year was 308 (2023 - 299 ) .

31.7.24 31.7.23
£    £   
Director's remuneration 30,000 34,607
Director's pension contributions to money purchase schemes - 2,576

Roche Homecare Limited (Registered number: 14033611)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 July 2024

5. OPERATING PROFIT

The operating profit is stated after charging:

31.7.24 31.7.23
£    £   
Depreciation - owned assets 389,598 357,685
Loss on disposal of fixed assets 1,165 16,519
Auditors' remuneration 17,700 15,800

6. INTEREST PAYABLE AND SIMILAR EXPENSES
31.7.24 31.7.23
£    £   
Loan interest 49,047 89,553

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.7.24 31.7.23
£    £   
Current tax:
UK corporation tax 317,983 422,971

Deferred tax 28,616 80,355
Tax on profit 346,599 503,326

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

31.7.24 31.7.23
£    £   
Profit before tax 1,270,265 1,912,803
Profit multiplied by the standard rate of corporation tax in the UK of 25 %
(2023 - 21.005 %)

317,566

401,784

Effects of:
Expenses not deductible for tax purposes 6,291 9,429
Depreciation in excess of capital allowances 17,139 31,942
Allowable as repairs and renewals (23,013 ) (20,184 )
Deferred tax 28,616 80,355
Total tax charge 346,599 503,326

Roche Homecare Limited (Registered number: 14033611)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 July 2024

7. TAXATION - continued

Tax effects relating to effects of other comprehensive income

31.7.24
Gross Tax Net
£    £    £   
Property revaluations 94,897 - 94,897
Non-distributable reserves (94,897 ) - (94,897 )
- - -

31.7.23
Gross Tax Net
£    £    £   
Property revaluations 93,973 - 93,973
Non-distributable reserves (93,973 ) - (93,973 )
- - -

8. 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.


9. DIVIDENDS
31.7.24 31.7.23
£    £   
Ordinary shares of £1 each
Interim 251,800 286,800
Preference shares of £1 each
Interim 10,000 20,000
261,800 306,800

Roche Homecare Limited (Registered number: 14033611)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 July 2024

10. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 136,355
AMORTISATION
At 1 August 2023
and 31 July 2024 136,355
NET BOOK VALUE
At 31 July 2024 -
At 31 July 2023 -

11. TANGIBLE FIXED ASSETS

Group
Fixtures
Freehold and
property Work-In-Progress fittings
£    £    £   
COST OR VALUATION
At 1 August 2023 9,491,265 97,928 4,999,874
Additions - 32,484 383,276
Disposals - - (51,971 )
Revaluations (93,973 ) - -
At 31 July 2024 9,397,292 130,412 5,331,179
DEPRECIATION
At 1 August 2023 93,973 - 4,596,151
Charge for year 94,897 - 230,598
Eliminated on disposal - - (42,396 )
At 31 July 2024 188,870 - 4,784,353
NET BOOK VALUE
At 31 July 2024 9,208,422 130,412 546,826
At 31 July 2023 9,397,292 97,928 403,723

Roche Homecare Limited (Registered number: 14033611)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 July 2024

11. TANGIBLE FIXED ASSETS - continued

Group

Motor Computer
vehicles equipment Totals
£    £    £   
COST OR VALUATION
At 1 August 2023 226,630 194,547 15,010,244
Additions - 5,600 421,360
Disposals (26,536 ) (133,498 ) (212,005 )
Revaluations - - (93,973 )
At 31 July 2024 200,094 66,649 15,125,626
DEPRECIATION
At 1 August 2023 27,191 137,187 4,854,502
Charge for year 32,756 31,347 389,598
Eliminated on disposal (7,779 ) (132,917 ) (183,092 )
At 31 July 2024 52,168 35,617 5,061,008
NET BOOK VALUE
At 31 July 2024 147,926 31,032 10,064,618
At 31 July 2023 199,439 57,360 10,155,742

Cost or valuation at 31 July 2024 is represented by:

Fixtures
Freehold and
property Work-In-Progress fittings
£    £    £   
Valuation in 2023 93,972 - -
Valuation in 2024 (93,972 ) - -
Cost 9,397,292 130,412 5,331,179
9,397,292 130,412 5,331,179

Motor Computer
vehicles equipment Totals
£    £    £   
Valuation in 2023 - - 93,972
Valuation in 2024 - - (93,972 )
Cost 200,094 66,649 15,125,626
200,094 66,649 15,125,626

Roche Homecare Limited (Registered number: 14033611)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 July 2024

11. TANGIBLE FIXED ASSETS - continued

Company
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1 August 2023 161,600 24,578 155,295 22,899 364,372
Additions - (1 ) - 2,094 2,093
Disposals - (9,574 ) - (580 ) (10,154 )
Revaluations (1,600 ) - - - (1,600 )
At 31 July 2024 160,000 15,003 155,295 24,413 354,711
DEPRECIATION
At 1 August 2023 1,600 2,303 13,644 1,148 18,695
Charge for year 1,600 4,209 19,574 6,148 31,531
At 31 July 2024 3,200 6,512 33,218 7,296 50,226
NET BOOK VALUE
At 31 July 2024 156,800 8,491 122,077 17,117 304,485
At 31 July 2023 160,000 22,275 141,651 21,751 345,677

Cost or valuation at 31 July 2024 is represented by:

Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
Valuation in 2024 (1,600 ) - - - (1,600 )
Valuation in 2023 1,600 - - - 1,600
Cost 160,000 15,003 155,295 24,413 354,711
160,000 15,003 155,295 24,413 354,711

Roche Homecare Limited (Registered number: 14033611)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 July 2024

12. FIXED ASSET INVESTMENTS

Group
Unlisted
investments
£   
COST
At 1 August 2023 160,825
Additions 270,650
At 31 July 2024 431,475
NET BOOK VALUE
At 31 July 2024 431,475
At 31 July 2023 160,825
Company
Shares in
group
undertakings
£   
COST
At 1 August 2023
and 31 July 2024 3,119,101
NET BOOK VALUE
At 31 July 2024 3,119,101
At 31 July 2023 3,119,101


Fixed asset investments are stated at cost. No impairment is considered necessary for the year ended 31 July 2024.

13. STOCKS

Group Company
31.7.24 31.7.23 31.7.24 31.7.23
£    £    £    £   
Stocks 19,164 19,164 2,699 2,699

Roche Homecare Limited (Registered number: 14033611)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 July 2024

14. DEBTORS

Group Company
31.7.24 31.7.23 31.7.24 31.7.23
£    £    £    £   
Amounts falling due within one year:
Debtors 1,061,874 715,755 213,096 199,569
Other Debtors 4,591,165 4,084,665 4,490,517 4,083,295
Directors' loan accounts - 173,260 - -
Prepayments and accrued income 425,348 407,036 209,296 237,627
6,078,387 5,380,716 4,912,909 4,520,491

Amounts falling due after more than one year:
Tax 69,614 69,614 - -

Aggregate amounts 6,148,001 5,450,330 4,912,909 4,520,491

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.7.24 31.7.23 31.7.24 31.7.23
£    £    £    £   
Bank loans and overdrafts (see note 17) 247,261 279,956 - -
Creditors 746,993 830,912 66,132 69,546
Amounts owed to group undertakings - - 4,874,107 4,640,731
Tax 222,118 422,971 86,631 130,771
Social security and other taxes 127,155 117,737 33,199 30,849
Other creditors 237,193 206,168 17,206 7,362
Spending money 76,038 69,189 32,005 29,705
Directors' loan accounts 626 - - -
Accruals and deferred income 317,016 389,508 75,029 96,206
1,974,400 2,316,441 5,184,309 5,005,170

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

Group
31.7.24 31.7.23
£    £   
Bank loans (see note 17) 924,315 1,162,363

17. LOANS

The interest rates on the loans are charged at fixed and LIBOR. The loans will mature in 2027 and 2028, respectively.

Roche Homecare Limited (Registered number: 14033611)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 July 2024

18. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Non-cancellable operating leases
31.7.24 31.7.23
£    £   
Within one year 6,488 8,043
Between one and five years 6,580 13,067
13,068 21,110

19. SECURED DEBTS

The following secured debts are included within creditors:

Group
31.7.24 31.7.23
£    £   
Bank loans 1,171,576 1,442,319

The bank hold Legal Mortgages over the following properties of the group:
Fieldhead Court
Fieldhead Park
Tudor House
Hartshead Manor
Mansion House

Natwest Bank PLC holds a fixed and floating charge over all of the property and undertakings on both Roche Homecare Limited and Roche Healthcare Limited..

20. PROVISIONS FOR LIABILITIES

Group Company
31.7.24 31.7.23 31.7.24 31.7.23
£    £    £    £   
Deferred tax 330,963 302,347 36,921 44,086

Group
Deferred
tax
£   
Balance at 1 August 2023 302,347
Provided during year 28,616
Balance at 31 July 2024 330,963

Roche Homecare Limited (Registered number: 14033611)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 July 2024

20. PROVISIONS FOR LIABILITIES - continued

Company
Deferred
tax
£   
Balance at 1 August 2023 44,086
Provided during year (7,165 )
Balance at 31 July 2024 36,921

21. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
2,919,101 Ordinary £1 2,919,101 2,919,101
200,000 Preference £1 200,000 200,000
3,119,101 3,119,101

22. RESERVES

Group
Retained Non-distributable
earnings reserve Totals
£    £    £   

At 1 August 2023 6,988,567 3,083,633 10,072,200
Profit for the year 923,666 923,666
Dividends (261,800 ) (261,800 )
Revaluation reserve 93,973 (93,973 ) -
At 31 July 2024 7,744,406 2,989,660 10,734,066

Company
Retained Non-distributable
earnings reserve Totals
£    £    £   

At 1 August 2023 197,726 1,600 199,326
Profit for the year 257,662 257,662
Dividends (261,800 ) (261,800 )
Revaluation reserve 1,600 (1,600 ) -
At 31 July 2024 195,188 - 195,188


Roche Homecare Limited (Registered number: 14033611)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 July 2024

23. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2024 and 31 July 2023:

31.7.24 31.7.23
£    £   
P J Roche
Balance outstanding at start of year 173,260 212,947
Amounts advanced 1,565,437 1,260,902
Amounts repaid (1,739,321 ) (1,300,589 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (624 ) 173,260

Interest has been charged on the loan at the HMRC approved rates.

24. RELATED PARTY DISCLOSURES

Roche Retirement Living Limited and Roche Renewables Limited are related parties of Roche Homecare Limited as they are owned by P Roche.

The following subsidiary are exempt from the requirements of Act relating to the audit of its individual accounts by virtue of s479A of the Companies Act 2006:

- Roche Healthcare Limited (company no. 02992723).

Roche Homecare Limited (14033611) has provided a guarantee for the subsidiary Roche Healthcare Limited (02992723) for the year ended 31 July 2024 by virtue of s479C of the Companies Act 2006.

Roche Homecare Limited Limited guarantees all outstanding liabilities to which the subsidiary companies are subject to 30th September 2022, until they are satisfied in full. The guarantee is enforceable against Roche Homecare Limited by any person to whom the subsidiaries are liable in respect of those liabilities.

25. ULTIMATE CONTROLLING PARTY

The controlling party is P J Roche.