IRIS Accounts Production v25.1.0.734 09464604 Board of Directors 1.3.24 28.2.25 28.2.25 Medium entities true false true true false false true true true true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. Ordinary 0.01000 Ordinary A 0.01000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh094646042024-02-29094646042025-02-28094646042024-03-012025-02-28094646042023-02-28094646042023-03-012024-02-29094646042024-02-2909464604ns15:EnglandWales2024-03-012025-02-2809464604ns14:PoundSterling2024-03-012025-02-2809464604ns10:Director12024-03-012025-02-2809464604ns10:PrivateLimitedCompanyLtd2024-03-012025-02-2809464604ns10:MediumEntities2024-03-012025-02-2809464604ns10:Audited2024-03-012025-02-2809464604ns10:Medium-sizedCompaniesRegimeForDirectorsReport2024-03-012025-02-2809464604ns10:Medium-sizedCompaniesRegimeForAccounts2024-03-012025-02-2809464604ns10:FullAccounts2024-03-012025-02-2809464604ns10:OrdinaryShareClass22024-03-012025-02-2809464604ns10:OrdinaryShareClass32024-03-012025-02-2809464604ns10:Director22024-03-012025-02-2809464604ns10:Director32024-03-012025-02-2809464604ns10:Director42024-03-012025-02-2809464604ns10:CompanySecretary12024-03-012025-02-2809464604ns10:RegisteredOffice2024-03-012025-02-280946460412024-03-012025-02-280946460412023-03-012024-02-2909464604ns5:CurrentFinancialInstruments2025-02-2809464604ns5:CurrentFinancialInstruments2024-02-2909464604ns5:Non-currentFinancialInstruments2025-02-2809464604ns5:Non-currentFinancialInstruments2024-02-2909464604ns5:ShareCapital2025-02-2809464604ns5:ShareCapital2024-02-2909464604ns5:RevaluationReserve2025-02-2809464604ns5:RevaluationReserve2024-02-2909464604ns5:RetainedEarningsAccumulatedLosses2025-02-2809464604ns5:RetainedEarningsAccumulatedLosses2024-02-2909464604ns5:ShareCapital2023-02-2809464604ns5:RetainedEarningsAccumulatedLosses2023-02-2809464604ns5:RevaluationReserve2023-02-2809464604ns5:RetainedEarningsAccumulatedLosses2023-03-012024-02-2909464604ns5:RevaluationReserve2023-03-012024-02-2909464604ns5:RetainedEarningsAccumulatedLosses2024-03-012025-02-2809464604ns5:RevaluationReserve2024-03-012025-02-2809464604ns5:LandBuildingsns5:OwnedOrFreeholdAssets2024-03-012025-02-2809464604ns5:ComputerEquipment2024-03-012025-02-2809464604ns5:OwnedAssets2024-03-012025-02-2809464604ns5:OwnedAssets2023-03-012024-02-2909464604ns5:LandBuildings2024-02-2909464604ns5:ComputerEquipment2024-02-2909464604ns5:LandBuildings2024-03-012025-02-2809464604ns5:LandBuildings2025-02-2809464604ns5:ComputerEquipment2025-02-2809464604ns5:LandBuildings2024-02-2909464604ns5:ComputerEquipment2024-02-2909464604ns5:WithinOneYearns5:CurrentFinancialInstruments2025-02-2809464604ns5:WithinOneYearns5:CurrentFinancialInstruments2024-02-2909464604ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2025-02-2809464604ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-02-2909464604ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2025-02-2809464604ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-02-2909464604ns5:Secured2025-02-2809464604ns5:Secured2024-02-2909464604ns5:DeferredTaxation2024-02-2909464604ns5:DeferredTaxation2024-03-012025-02-2809464604ns5:DeferredTaxation2025-02-2809464604ns10:OrdinaryShareClass22025-02-2809464604ns10:OrdinaryShareClass32025-02-2809464604ns5:RetainedEarningsAccumulatedLosses2024-02-2909464604ns5:RevaluationReserve2024-02-29
REGISTERED NUMBER: 09464604 (England and Wales)















STRATEGIC REPORT, DIRECTORS' REPORT AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

FOR

HENRY HOLDINGS LIMITED

HENRY HOLDINGS LIMITED (REGISTERED NUMBER: 09464604)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025




Page

Company Information 1

Strategic Report 2

Directors' Report 4

Independent Auditors' Report 6

Income Statement 9

Other Comprehensive Income 10

Balance Sheet 11

Statement of Changes in Equity 12

Notes to the Financial Statements 13


HENRY HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2025







DIRECTORS: D N Lock
K B Nelson
E S Philpott
C J White





SECRETARY: B M Granger





REGISTERED OFFICE: Homes Support Centre
1 Lutterworth Road
Burbage
Hinckley
Leicestershire
LE10 2DJ





REGISTERED NUMBER: 09464604 (England and Wales)





INDEPENDENT AUDITORS: Armstrongs Accountancy Ltd
Chartered Accountants and Statutory Auditor
1 & 2 Mercia Village
Torwood Close
Westwood Business Park
Coventry
West Midlands
CV4 8HX

HENRY HOLDINGS LIMITED (REGISTERED NUMBER: 09464604)

STRATEGIC REPORT
FOR THE YEAR ENDED 28 FEBRUARY 2025

The directors present their strategic report for the year ended 28 February 2025.

The principal activity of the company in the period under review was that of operation of residential care homes for the elderly.

REVIEW OF BUSINESS
The directors are pleased to present a comprehensive overview of the business's performance during the accounting period, reflecting a notable upward trajectory.

Throughout this period, the company has consistently recognised and valued the dedication of its colleagues, whose commitment to delivering exceptional care across all services has been unwavering. Strong leadership across all homes has been a driving force behind our continued success.

The company's focus on staff mental health and wellbeing is evident by the provision of confidential support for personal issues. This investment in staff wellbeing positively impacts their interactions with residents, enhancing overall care provision. Staff surveys inform policy development, ensuring alignment with staff needs and continuous improvement in organisational effectiveness.

Overall, the business has demonstrated a positive upward trajectory during this period, marked by strategic initiatives, operational excellence, and a commitment to staff wellbeing, ultimately enhancing the quality of care provided to our residents.

PRINCIPAL RISKS AND UNCERTAINTIES
The directors recognise that within the business there are a number of risks which may affect the performance of the company. The risks are subject to regular review, and where appropriate, processes are established to minimise the level of exposure. The principal risks and uncertainties facing the company are broadly as follows:

Legislative risks
The company faces regular monitoring from Care Quality Commission (CQC). Compliance with CQC regulations imposes costs and failure to comply with the standards could materially affect the company's ability to operate. The directors ensure that care homes are run to high standards with strong operational and head office support teams in place.

Financial risks
The company is exposed to financial risk thorough its assets and liabilities. The principal financial instruments comprise of cash, trade debtors, bank loans and the inter-company balances which arise directly from its operations.

The main risks arising from the company's financial instruments are credit risk, interest rate risk and liquidity risk.

Credit risk
The company continues to minimise commercial credit risk and has not suffered unduly from bad debts.

Interest rate risk
The company borrowings are on variable rate basis and are exposed to potential increases in interest rates. The directors continue to monitor its interest obligations and its investment portfolio to ensure that future increases in the interest rates will not unduly affect the performance of the business.

Liquidity risk
Liquidity risk exist when the company may face difficulty in meeting obligations associated with financial liabilities. The directors aim to mitigate liquidity risk by managing cash generation by its operations and applying cash collections targets.


HENRY HOLDINGS LIMITED (REGISTERED NUMBER: 09464604)

STRATEGIC REPORT
FOR THE YEAR ENDED 28 FEBRUARY 2025

PRINCIPAL RISKS AND UNCERTAINTIES
The directors have established a risk and financial management framework whose primary objectives are to protect the company from events that can impact the achievement of the company's performance objectives. Financial framework's main aim is to limit the undue counterparty exposure, ensure working capital adequacy and monitor and manage these risks at a home level.

The company has a robust financial control environment, Controls are in place ensuring the production of accurate and timely management information.

The directors have a well-defined management structure with clear lines of delegation coupled with a culture of open communication with management. Our managers have a clear focus on quality care, selective recruitment and staff development.

With an established income stream, a good reputation with local authority commissioning teams and access to growth capital through existing banking relationships, the company is in a strong position to continue as a leading care provider of quality care service in a fragmented and growing market.

KEY PERFORMANCE INDICATORS
The Company utilises a range of Key Performance Indicators (KPIs) to evaluate performance and track progress towards its strategic goals.

Turnover growth: The Company witnessed a substantial increase in turnover, reaching £4,828K compared to £4,020K in the prior year.

Gross profit margin: The Company achieved a gross profit percentage of 49.46%, reflecting an improvement from the previous year 48.57%.

Profit before tax: The profit for the period before tax was £528K, a notable change from the £346K profit in the previous year.

Net Assets: The net assets of the Company as of 29 February 2025 amounted to £8,430K, showing growth from £3,972K the prior period.

These KPIs provide valuable insights into the Company's financial performance, operational efficiency, and commitment to delivering exceptional care services while navigating external challenges and opportunities enhancing the quality of care provided to our residents.

ON BEHALF OF THE BOARD:





C J White - Director


30 April 2025

HENRY HOLDINGS LIMITED (REGISTERED NUMBER: 09464604)

DIRECTORS' REPORT
FOR THE YEAR ENDED 28 FEBRUARY 2025

The directors present their report with the financial statements of the company for the year ended 28 February 2025.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of operation of residential care home.

DIVIDENDS
No dividends will be distributed for the year ended 28 February 2025.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 March 2024 to the date of this report.

D N Lock
K B Nelson
E S Philpott
C J White

POLITICAL AND CHARITY DONATIONS AND EXPENDITURE
During the year £2,000 charity donations were made to a charity founded by 4 of the directors.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Directors' 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 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 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

HENRY HOLDINGS LIMITED (REGISTERED NUMBER: 09464604)

DIRECTORS' REPORT
FOR THE YEAR ENDED 28 FEBRUARY 2025


AUDITORS
The auditors, Armstrongs Accountancy Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:



C J White - Director


30 April 2025

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF
HENRY HOLDINGS LIMITED

Opinion
We have audited the financial statements of Henry Holdings Limited (the 'company') for the year ended 28 February 2025 which comprise the Income Statement, Other Comprehensive Income, 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 28 February 2025 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 Auditors' 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 financial statements are 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 in the Strategic Report and the Directors' Report, but does not include the financial statements and our Auditors' 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 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 Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF
HENRY HOLDINGS LIMITED


Matters on which we are required to report by exception
In the light of the 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 or 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 four, 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 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.

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF
HENRY HOLDINGS LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the Company and industry, we identified that the principal risks of non-compliance with laws and regulations related to the industry, and we considered the extent to which non­compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the financial statements such as the Companies Act 2006. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to posting unusual journal entries to increase revenue and profits or the manipulation of accounting estimates which could be subject to management bias. Audit procedures performed by the engagement team included:

-Enquiry with management, those charged with governance around actual and potential litigation and claims;
-Enquiry of entity staff to identify any instances of non-compliance with laws and regulations;
-Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
-Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias;
-Performing audit work over the risk of understatement of turnover including analytical review and obtaining corroborated explanations from management.

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, 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 or intentional misrepresentations, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' 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 Auditors' 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.




Muhammed Shabbir FCA, FCCA (Senior Statutory Auditor)
for and on behalf of Armstrongs Accountancy Ltd
Chartered Accountants and Statutory Auditor
1 & 2 Mercia Village
Torwood Close
Westwood Business Park
Coventry
West Midlands
CV4 8HX

30 April 2025

HENRY HOLDINGS LIMITED (REGISTERED NUMBER: 09464604)

INCOME STATEMENT
FOR THE YEAR ENDED 28 FEBRUARY 2025

2025 2024
Notes £    £   

TURNOVER 4,827,750 4,020,402

Cost of sales 2,439,879 2,067,716
GROSS PROFIT 2,387,871 1,952,686

Administrative expenses 1,541,854 1,303,502
846,017 649,184

Other operating income 16,374 13,738
OPERATING PROFIT 4 862,391 662,922

Interest receivable and similar income 678 274
863,069 663,196

Interest payable and similar expenses 5 334,639 317,426
PROFIT BEFORE TAXATION 528,430 345,770

Tax on profit 6 164,026 114,378
PROFIT FOR THE FINANCIAL YEAR 364,404 231,392

HENRY HOLDINGS LIMITED (REGISTERED NUMBER: 09464604)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 28 FEBRUARY 2025

2025 2024
Notes £    £   

PROFIT FOR THE YEAR 364,404 231,392


OTHER COMPREHENSIVE INCOME
Revaluation reserve 5,458,197 -
Income tax relating to other comprehensive
income

(1,364,549

)

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

4,093,648

-
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

4,458,052

231,392

HENRY HOLDINGS LIMITED (REGISTERED NUMBER: 09464604)

BALANCE SHEET
28 FEBRUARY 2025

2025 2024
Notes £    £    £   
FIXED ASSETS
Tangible assets 7 17,580,072 12,365,815

CURRENT ASSETS
Debtors 8 1,192,610 758,776
Cash at bank and in hand 121,329 121,417
1,313,939 880,193
CREDITORS
Amounts falling due within one year 9 2,715,767 2,684,134
NET CURRENT LIABILITIES (1,401,828 ) (1,803,941 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

16,178,244

10,561,874

CREDITORS
Amounts falling due after more than one
year

10

(4,054,552

)

(4,296,472

)

PROVISIONS FOR LIABILITIES 13 (3,693,596 ) (2,293,358 )
NET ASSETS 8,430,096 3,972,044

CAPITAL AND RESERVES
Called up share capital 14 2 2
Revaluation reserve 15 8,881,460 4,787,812
Retained earnings 15 (451,366 ) (815,770 )
SHAREHOLDERS' FUNDS 8,430,096 3,972,044

The financial statements were approved by the Board of Directors and authorised for issue on 30 April 2025 and were signed on its behalf by:





C J White - Director


HENRY HOLDINGS LIMITED (REGISTERED NUMBER: 09464604)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 28 FEBRUARY 2025

Called up
share Retained Revaluation Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 March 2023 2 (1,047,162 ) 4,787,812 3,740,652

Changes in equity
Total comprehensive income - 231,392 - 231,392
Balance at 29 February 2024 2 (815,770 ) 4,787,812 3,972,044

Changes in equity
Total comprehensive income - 364,404 4,093,648 4,458,052
Balance at 28 February 2025 2 (451,366 ) 8,881,460 8,430,096

HENRY HOLDINGS LIMITED (REGISTERED NUMBER: 09464604)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

1. STATUTORY INFORMATION

Henry Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows;
the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and
11.48(c);
the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;
the requirements of paragraphs 26.18(b), 26.19 to 26.21 and 26.23;
the requirement of paragraph 33.7.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold land & buildings - 2% on cost
Computer equipment - 20% on cost

Land and buildings are held at fair value under the revaluation model.

HENRY HOLDINGS LIMITED (REGISTERED NUMBER: 09464604)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the 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.


HENRY HOLDINGS LIMITED (REGISTERED NUMBER: 09464604)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025

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

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

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3. EMPLOYEES AND DIRECTORS
2025 2024
£    £   
Wages and salaries 2,267,339 1,924,365
Social security costs 143,924 121,181
Other pension costs 28,616 22,170
2,439,879 2,067,716

The average number of employees during the year was as follows:
2025 2024

Employees 98 90

2025 2024
£    £   
Directors' remuneration - -

4. OPERATING PROFIT

The operating profit is stated after charging:

2025 2024
£    £   
Depreciation - owned assets 243,940 243,940

HENRY HOLDINGS LIMITED (REGISTERED NUMBER: 09464604)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2025 2024
£    £   
Bank loan interest 334,639 317,426

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2025 2024
£    £   
Current tax:
UK corporation tax 128,338 71,487

Deferred tax 35,688 42,891
Tax on profit 164,026 114,378

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:

2025 2024
£    £   
Profit before tax 528,430 345,770
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2024 - 24.492%)

132,108

84,686

Effects of:
Capital allowances in excess of depreciation (3,770 ) (13,199 )
Reversal of timing differences 35,688 42,891
Total tax charge 164,026 114,378

Tax effects relating to effects of other comprehensive income

2025
Gross Tax Net
£    £    £   
Revaluation reserve 5,458,197 (1,364,549 ) 4,093,648

HENRY HOLDINGS LIMITED (REGISTERED NUMBER: 09464604)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025

7. TANGIBLE FIXED ASSETS
Freehold
land & Computer
buildings equipment Totals
£    £    £   
COST OR VALUATION
At 1 March 2024 12,833,407 25,361 12,858,768
Revaluations 5,458,197 - 5,458,197
At 28 February 2025 18,291,604 25,361 18,316,965
DEPRECIATION
At 1 March 2024 477,736 15,217 492,953
Charge for year 238,868 5,072 243,940
At 28 February 2025 716,604 20,289 736,893
NET BOOK VALUE
At 28 February 2025 17,575,000 5,072 17,580,072
At 29 February 2024 12,355,671 10,144 12,365,815

Cost or valuation at 28 February 2025 is represented by:

Freehold
land & Computer
buildings equipment Totals
£    £    £   
Valuation in 2025 11,931,946 - 11,931,946
Cost 6,359,658 25,361 6,385,019
18,291,604 25,361 18,316,965

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

2025 2024
£    £   
Cost 6,359,658 6,359,658

Freehold land and buildings were valued on an open market basis on 15 December 2024 by Colliers .

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 40,564 36,370
Amounts owed by group undertakings 1,133,177 699,869
Staff loans 2,100 2,573
Prepayments 16,769 19,964
1,192,610 758,776

HENRY HOLDINGS LIMITED (REGISTERED NUMBER: 09464604)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Bank loans and overdrafts (see note 11) 241,920 241,920
Trade creditors 83,173 114,025
Amounts owed to group undertakings 1,983,364 2,015,287
Corporation tax 128,338 71,487
Social security and other taxes 27,992 25,088
Other creditors 11,174 10,550
Wages & salaries 131,801 123,244
Staff pensions payable 6,033 4,433
Accrued expenses 101,972 78,100
2,715,767 2,684,134

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2025 2024
£    £   
Bank loans (see note 11) 4,054,552 4,296,472

11. LOANS

An analysis of the maturity of loans is given below:

2025 2024
£    £   
Amounts falling due within one year or on demand:
Bank loans 241,920 241,920

Amounts falling due between one and two years:
Bank loans - 1-2 years 241,920 241,920

Amounts falling due between two and five years:
Bank loans - 2-5 years 725,760 725,760

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 3,086,872 3,328,792

12. SECURED DEBTS

The following secured debts are included within creditors:

2025 2024
£    £   
Bank loans 4,296,472 4,538,392

Clydesdale Bank Plc holds fixed and floating charge dated 09 September 2020 which covers all the property or undertaking of the Company.

HENRY HOLDINGS LIMITED (REGISTERED NUMBER: 09464604)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025

13. PROVISIONS FOR LIABILITIES
2025 2024
£    £   
Deferred tax 3,693,596 2,293,358

Deferred
tax
£   
Balance at 1 March 2024 2,293,358
Provided during year 1,364,549
Charge to Income Statement during year 35,689
Balance at 28 February 2025 3,693,596

14. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £    £   
100 Ordinary 1p 1 1
52 Ordinary A 1p 1 1
2 2

Ordinary and Ordinary A shares rank pari passu regarding voting and participation rights and provides flexibility to vary dividends.

15. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 March 2024 (815,770 ) 4,787,812 3,972,042
Profit for the year 364,404 364,404
Revaluation in the year - 4,093,648 4,093,648
At 28 February 2025 (451,366 ) 8,881,460 8,430,094

16. ULTIMATE CONTROLLING PARTY

The controlling party is Adept Care Homes Limited.

The ultimate controlling party is D N Lock.

The company is a subsidiary of Adept Care Homes Limited, a company registered in the United Kingdom.

A copy of the parent company's accounts financial statements can be obtained from its registered office which is situated at Homes Support Centre, 1 Lutterworth Road, Burbage, Hinckley, Leicester's, LE10 2DJ.