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Registered number: 03812402
Radis Limited
Strategic Report, Directors' Report and
Financial Statements
For The Year Ended 31 August 2024
Elsby & Company Limited
Contents
Page
Company Information 1
Strategic Report 2—3
Directors' Report 4—6
Independent Auditor's Report 7—9
Consolidated Statement of Comprehensive Income 10
Consolidated Balance Sheet 11
Company Balance Sheet 12
Consolidated Statement of Changes in Equity 13
Company Statement of Changes in Equity 14
Consolidated Statement of Cash Flows 15
Notes to the Consolidated Statement of Cash Flows 16
Notes to the Financial Statements 17—30
Page 1
Company Information
Directors Mr S R Patel
Mr D R Patel
Secretary Mr S R Patel
Company Number 03812402
Registered Office Mercia House
15 Galena Close
Tamworth
Staffordshire
B77 4AS
Accountants Elsby & Company Limited
155 Wellingborough Road
Rushden
Northamptonshire
NN10 9TB
Auditors Mercer & Hole LLP
The Pinnacle
170 Midsummer Boulevard
Milton Keynes
Buckinghamshire
MK9 1BP
Bankers Royal Bank of Scotland
24 Southernhay
Basildon
Essex
SS14 1ER
Page 1
Page 2
Strategic Report
The directors present their strategic report for the year ended 31 August 2024.
Review of the Business
The Radis group of companies predominately provides care and support services in community settings across three reporting divisions; Domiciliary Care, Extra Care Housing and Specialist Services.
The group increased turnover to £56,573,077 (2023: £53,451,134).  The increase in turnover was achieved through fee increases on existing contracts, significant growth in Extra Care, consolidating on the growth from the prior year and new contracts and acquisitions in Supported Living.
The gross profit margin has increased to 29.4% (2023: 26.0%).  The strategic review of our contracts in the prior year has resulted in uneconomic and unsustainable contracts being handed back to the Local Authority / Health Boards.  This has had an immediate positive impact on our financials, accounting for the majority of the increase in the gross margin. 
We have continued to experience margin pressures.  Local Authority and Health Board budgets have been squeezed resulting in annual uplifts across a number of our contracts not keeping pace with another year of substantial increases in the cost of the National Living Wage, and associated employment costs, as well as higher inflationary pressures in utilities and insurance.  
The full impact of the actions taken have resulted in the business returning to profitability. The Operating result for this year before Interest, Tax, Depreciation and Amortisation (EBITDA) being a profit of £639,369 (2023: £(436,590) loss).  
The group has continued its investment in branch and support staff, funded by new contract implementations, IT expenditure and bore significant increases in a number of general cost lines.  As a result, there was an increase in administrative expenses to £16,600,848 (2023: £15,097,823).  We expect to see further investment in wages, IT costs and new contracts and services which the group believes will position it to continue its growth.  The group will continue to manage the pressures on administrative costs as part of its business strategy.
The outlook for 2024/25 will be enhanced by further new contract additions and further benefits of the contract reviews which are being done continually.  However,  we anticipate that existing contracts will continue to be affected by continued pressure on margins in 2024/25.  This is due to inflationary pressures, namely the increases to the National Living Wage and the recent Budget changing the National Insurance rates and thresholds.  The later of these is a particularly acute for us as the majority of our workers are part time which means we will incur a higher cost of the threshold change then if we employed full time workers.  As a result the business will be continuing to review its contracts and take appropriate actions to ensure continued profitability.
Principal Risks and Uncertainties
The principal risks and uncertainties continue to be the following:
Reliance on Local Authority customers
This risk is managed by maintaining close relations with those customers and looking for opportunities to expand into the private payer market. The group maintains a pipeline of tender opportunities to promote a diversity of contracts and selectively tenders for sustainable contracts. The group has a good track record of winning new contracts and retaining contracts on renewal.
Compliance with regulations
The group employs suitably qualified staff and provides access to staff training to ensure they remain compliant with the regulations of the sector.
Retention and quality of staff
Recruitment and retention of good quality staff is an ongoing problem in a sector which is traditionally low paid. The group ensures it complies with the requirements of the National Minimum and Living Wages legislation.
Development and performance
Trading conditions are expected to continue to the difficult with the continuing pressure on margins.  However, demand for care and support services continues to be high and we do expect to continue to grow organically over the next 12 months.
Key Performance Indicators
The directors consider the key performance indicators to be turnover, gross margin, EBITDA (Earnings before Interest, Tax, Depreciation and Amortisation) and cash flow which are consistent with the size and complexity of the business.
Page 2
Page 3
2024
2023
£
£
Turnover
56,573,077
53,451,134
Gross Margin
29.4%
26.0%
EBITDA
639,369
(436,590)
Promoting the success of the group
The directors have had regard to the matters set out in section 172(1)(a) to (f) of the Companies Act 2006 in exercising their duty to promote the success of the group for the benefit of its members as a whole. The directors consider the group’s key stakeholders to be its Shareholders, Employees, Customers, Suppliers, Funders and Regulators. The Board seeks to understand the respective interests of such groups so that these may be properly considered in the Board’s decisions. We do this through various methods, including: direct engagement by the  appropriate Board members; receiving reports and updates from members of management who engage with such groups; and coverage in our Board papers of relevant stakeholder interests with regard to proposed courses of action.
In considering the likely long-term consequences of any strategic decisions they make, the directors recognise their understanding of the business and the evolving environment in which the group operates is critical. Through their day to day involvement in the business, the directors are able to keep pace with the changes and challenges faced and can ensure this is incorporated into their strategic plans.
By providing a safe and secure working environment for employees, the directors are mindful that the group’s employees are fundamental and core to the business and delivery of the Board’s strategic plans. The success of the business depends on attracting, developing, retaining and motivating employees. Delivering the strategy also requires good relationships with suppliers, clients, funders, and local communities and the directors work continuously to achieve this.
In order to maintain the group’s reputation for high standards of business conduct the directors review and approve clear plans, policies and frameworks periodically, and carry out regular reviews so they can ensure that those high standards are maintained across all relationships, internally and externally. This is complemented by the way the directors monitor ongoing changes with governance standards and adapt the group’s policies and procedures to reflect those that are relevant to the size and industry of the business. The group’s environmental impact is  monitored by the directors and further details can be found in the Directors' Report.
Finally, the directors recognise their role is key through not just their words but their own actions in ensuring the desired culture is embedded in the values, attitudes and behaviours the group demonstrates through its external activities and stakeholder relationships.
On behalf of the board
Mr S R Patel
Director
16th May 2025
Page 3
Page 4
Directors' Report
The directors present their report and the financial statements for the year ended 31 August 2024.
Principal Activity
The group's principal activity continues to be the provision of care and support services to vulnerable people in the community.
Dividends
The results for the year are set out on page 10.
The value of dividends paid amounted to £168,000 .
The directors do not recommend payment of a further dividend.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
Mr S R Patel
Mr D R Patel
Streamlined Energy and Carbon Reporting
Radis Limited recognises that our operations have an environmental impact and we are committed to monitoring and reducing our emissons year on year.  We are also aware of our reporting obligations under The Companies (Directors' Report) and Limited Liability Partnerships (Energy and Carbon Report) Regulations 2018.  As such, this year we have included reporting of or energy and carbon to meet these requirements and increase the transparancy with which we communicate about our environmental impact to our stakeholders.
2023/2024 Performance
Our carbon footprint for the 2023/2024 reporting year has been calculated based on our environmental impact across scope 1, 2 and some scope 3 emissions related to Business Miles covered in Employees vehicles, as we believe this to be a fair reflection of the energy used in the operation of the business.
Our emissions are 577 tCO2e, which is an average impact of 0.23 tCO2e per employee.  We have calculated emission intensity metrics on the basis of FTE, which we will monitor to track performance in our subsequent environmental disclosures.
We look to continually maximise efficiencies by minimising the impact of our carbon footprint through monitoring of our energy usage.  By the nature of our business, fuel consumption is the largest proportion of our environmental impact (92% of our total energy consumption) and is primarily driven by our Visiting Care Services.  
The reduction of 158 tCO2e or 21.5% in this year is directly related to a reduction in the Visiting Care services we are providing as the business has transitioned into the Extra Care and Supported Living markets.  
For our remaining Visiting Care services, we try to maximise our efficency by looking at our customers distribution profile and increasing the effectiveness of our planning.  In addtion we aim to educate our employees to reduce consumption where possible. 
Methodology
The CO2e calculations are based on the HMRC publications relating to greenhouse gas reporting conversion factors for 2024 and our internal records for orders of fuel and energy consumption statements.
Energy consumption
2024
2023
kWh
kWh
Aggregate of energy consumption in the year
2,442,108
3,094,576
...CONTINUED
Page 4
Page 5
Streamlined Energy and Carbon Reporting - continued
2024
2023
Emissions of CO2 equivalent 
metric tonnes 
metric tonnes 
Scope 1 - direct emissions 
- Gas combustion
15
20
-  Fuel consumed for owned transport
56
124
71
144
Scope 2 - indirect emissions 
- Electricity purchased 
32
44
Scope 3 - other indirect emissions
- Fuel consumed for transport not owned by the group 
474
547
Total gross emissions
577
735
Intensity ratio 
Tonnes CO2e per employee
0.23
0.30
Disabled persons
The group's policy is to recruit disabled workers for those vacancies that they are able to fill. All necessary assistance with initial training courses is given. Once employed, a career plan is developed so as to ensure suitable opportunities for each disabled person are available. Arrangements are made, wherever possible, for retraining employees who become disabled, to enable them to perform work identified as appropriate to their aptitudes and abilities.
Employee involvement
The group's policy is to consult and discuss with employees, through unions, staff councils and at meetings, matters likely to affect employees' interests. 
Information of matters of concern to employees is given through information bulletins and reports which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the group's performance.
Future developments
The group continues to seek further opportunities to develop the business and additional services.
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, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', 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 group and company and of the profit or loss of the group for that period. In preparing the financial statements the directors are required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group and company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group and company's transactions and disclose with reasonable accuracy at any time the financial position of the group and 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 group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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Page 6
Statement of Disclosure of Information to Auditors
In the case of each director in office at the date the Directors' Report is approved: 
  • so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
  • they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.
Independent Auditors
The auditor, Mercer & Hole LLP, is deemed to be reappointed under section 487(2) of the Companies Act 2006.
On behalf of the board
Mr S R Patel
Director
16th May 2025
Page 6
Page 7
Independent Auditor's Report
Opinion
We have audited the financial statements of Radis Limited (the "parent company") and its subsidiaries (the "group") for the year ended 31 August 2024 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes of Equity, Company Statement of Changes of Equity, Consolidated Cash Flow Statement and the related notes, 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 (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
In our opinion the financial statements:
  • give a true and fair view of the state of the group's and of the parent company's affairs as at 31 August 2024 and of the group's profit/(loss) 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's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent 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 group and parent company's ability to continue as a going concern for a period of at least 12 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 other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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 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 the knowledge and understanding of the group and parent company and their 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 in relation to which 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 or 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.
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Responsibilities of Directors
As explained more fully in the Directors' Responsibilities Statement set out on page 5, 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 group and 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 directors either intend to liquidate the group or the parent 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.
The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud
We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. These included, but were not limited to, the Companies Act 2006, tax legislation and the requirements of the Care Quality Commission. 
We evaluated the management's incentives and opportunities for fraudulent manipulation of the financial statements and the financial report (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate entries including journals to overstate revenue or understate expenditure and management bias in accounting estimates. 
Audit procedures performed by the engagement team included:
  • discussions with managemnt, including considerations of known or suspected instances of non-compliance with laws and regulations and fraud; 
  • gaining an understanding of management's controls designed to prevent and detect irregularities; 
  • identifying and testing journal entries; and
  • reviewing the Care Quality Commission inspection reports to identify evidence of non-compliance. 
Owing to the inherent limitations of an audit there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performd our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations. 
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
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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 that 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.
Andrew Lawes MA MSc FCA (Senior Statutory Auditor)
for and on behalf of Mercer & Hole LLP , Statutory Auditor
16th May 2025
Mercer & Hole LLP
The Pinnacle
170 Midsummer Boulevard
Milton Keynes
Buckinghamshire
MK9 1BP
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Consolidated Statement of Comprehensive Income
2024 2023
Notes £ £
TURNOVER 3 56,573,077 53,451,134
Cost of sales (39,961,128 ) (39,549,470 )
GROSS PROFIT 16,611,949 13,901,664
Administrative expenses (16,600,848 ) (15,097,823 )
Other operating income 169,779 443,093
Fair value losses on investment properties (60,000 ) -
OPERATING PROFIT/(LOSS) 120,880 (753,066 )
Other interest receivable and similar income 8 72,010 51,978
Interest payable and similar charges 9 (93,621 ) (162,176 )
PROFIT/(LOSS) BEFORE TAXATION 99,269 (863,264 )
Tax on Profit/(loss) 10 (41,197 ) 138,730
PROFIT/(LOSS) AFTER TAXATION BEING PROFIT/(LOSS) FOR THE FINANCIAL YEAR ATTRIBUTABLE TO THE OWNERS OF THE PARENT 58,072 (724,534 )
OTHER COMPREHENSIVE INCOME FOR THE YEAR - -
TOTAL COMPREHENSIVE INCOME FOR THE YEAR ATTRIBUTABLE TO THE OWNERS OF THE PARENT 58,072 (724,534 )
The profit/(loss) for the financial year is all attributable to the owners of the parent company. 
Total comprehensive income for the year is all attributable to the owners of the parent company. 
The profit and loss account has been prepared on the basis that all operations are continuing operations.
The notes on pages 16 to 30 form part of these financial statements.
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Consolidated Balance Sheet
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 12 1,121,004 1,314,329
Tangible Assets 13 1,650,650 1,620,820
Investment Properties 14 505,000 565,000
3,276,654 3,500,149
CURRENT ASSETS
Debtors 16 6,970,952 7,473,400
Cash at bank and in hand 1,561,811 1,500,691
8,532,763 8,974,091
Creditors: Amounts Falling Due Within One Year 17 (5,523,745 ) (7,430,349 )
NET CURRENT ASSETS 3,009,018 1,543,742
TOTAL ASSETS LESS CURRENT LIABILITIES 6,285,672 5,043,891
Creditors: Amounts Falling Due After More Than One Year 18 (1,341,450 ) -
PROVISIONS FOR LIABILITIES
Deferred Taxation 20 (12,999 ) (2,740 )
NET ASSETS 4,931,223 5,041,151
CAPITAL AND RESERVES
Called up share capital 21 126,316 126,316
Share premium account 93,684 93,684
Profit and Loss Account 4,711,223 4,821,151
SHAREHOLDERS' FUNDS 4,931,223 5,041,151
The financial statements were approved by the board of directors and authorised for issue on 16 May 2025 and were signed on its behalf by:
Mr S R Patel
Director
16th May 2025
Company registration number 03812402 (England and Wales)
The notes on pages 16 to 30 form part of these financial statements.
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Company Balance Sheet
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 13 772,262 792,966
Investments 15 1,184,484 1,184,484
1,956,746 1,977,450
CURRENT ASSETS
Cash at bank and in hand 13,066 18,245
13,066 18,245
Creditors: Amounts Falling Due Within One Year 17 (388,428 ) (1,673,202 )
NET CURRENT LIABILITIES (375,362 ) (1,654,957 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,581,384 322,493
Creditors: Amounts Falling Due After More Than One Year 18 (1,341,450 ) -
NET ASSETS 239,934 322,493
CAPITAL AND RESERVES
Called up share capital 21 126,316 126,316
Share premium account 93,684 93,684
Profit and Loss Account 19,934 102,493
SHAREHOLDERS' FUNDS 239,934 322,493
In accordance with section 408(3) of the Companies Act 2006, the company has not presented its own profit and loss account and the related notes. The company's profit for the year was £ 85,441 (2023: £ 169,597 profit).
On behalf of the board
Mr S R Patel
Director
16th May 2025
Company registration number 03812402 (England and Wales)
The notes on pages 16 to 30 form part of these financial statements.
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Consolidated Statement of Changes in Equity
Share Capital Share Premium Other reserves Profit and Loss Account Total
£ £ £ £ £
As at 1 September 2022 126,316 93,684 - 5,713,685 5,933,685
Loss for the year and total comprehensive income - - - (724,534 ) (724,534)
Dividends paid - - - (168,000) (168,000)
As at 31 August 2023 and 1 September 2023 126,316 93,684 - 4,821,151 5,041,151
Profit for the year and total comprehensive income - - - 58,072 58,072
Dividends paid - - - (168,000) (168,000)
As at 31 August 2024 126,316 93,684 - 4,711,223 4,931,223
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Company Statement of Changes in Equity
Share Capital Share Premium Profit and Loss Account Total
£ £ £ £
As at 1 September 2022 126,316 93,684 100,896 320,896
Profit for the year and total comprehensive income - - 169,597 169,597
Dividends paid - - (168,000) (168,000)
As at 31 August 2023 and 1 September 2023 126,316 93,684 102,493 322,493
Profit for the year and total comprehensive income - - 85,441 85,441
Dividends paid - - (168,000) (168,000)
As at 31 August 2024 126,316 93,684 19,934 239,934
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Consolidated Statement of Cash Flows
2024 2023
Notes £ £
Cash flows from operating activities
Net cash generated from operations 1 407,333 909,654
Interest paid (93,621 ) (162,176 )
Tax refunded/(paid) 177,997 (141,912 )
Net cash generated from operating activities 491,709 605,566
Cash flows from investing activities
Purchase of intangible assets (9,120 ) -
Purchase of tangible assets (286,274 ) (109,019 )
Proceeds from disposal of tangible assets 400 207,000
Interest received 22,793 13,003
Loan to related party - (303,437)
Net cash used in investing activities (272,201 ) (192,453 )
Cash flows from financing activities
Equity dividends paid (168,000 ) (168,000 )
Proceeds from new bank borrowings 1,400,000 -
Repayment of bank borrowings (1,390,388 ) (1,484,303 )
Net cash used in financing activities (158,388 ) (1,652,303 )
Increase/(decrease) in cash and cash equivalents 61,120 (1,239,190 )
Cash and cash equivalents at beginning of year 2 1,500,691 2,739,881
Cash and cash equivalents at end of year 2 1,561,811 1,500,691
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Notes to the Consolidated Statement of Cash Flows
1. Reconciliation of profit/(loss) for the financial year to cash generated from operations
2024 2023
£ £
Profit/(loss) for the financial year 58,072 (724,534 )
Adjustments for:
Tax on profit/(loss) 41,197 (138,730 )
Interest expense 93,621 162,176
Interest income (72,010 ) (51,978 )
Amortisation of intangible assets 202,445 202,446
Depreciation of tangible assets 256,444 242,401
Profit on disposal of tangible assets (400) (128,371)
Net fair value losses recognised in profit or loss 60,000 -
Movements in working capital:
Decrease in trade and other debtors 342,730 515,491
(Decrease)/increase in trade and other creditors (574,766 ) 830,753
Net cash generated from operations 407,333 909,654
2. Cash and cash equivalents
Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:
2024 2023
£ £
Cash at bank and in hand 1,561,811 1,500,691
3. Analysis of changes in net funds
As at 1 September 2023 Cash flows As at 31 August 2024
£ £ £
Cash at bank and in hand 1,500,691 61,120 1,561,811
Debts falling due within one year (1,382,352 ) 1,331,838 (50,514 )
Debts falling due after more than one year - (1,341,450) (1,341,450)
118,339 51,508 169,847
Debts falling due within one year and after one year relate to the bank loans. The loan brought forward was refinanced in the year and this is reflected above.
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Notes to the Financial Statements
1. General Information
Radis Limited is a private company, limited by shares, domiciled and incorporated in England & Wales, registered number 03812402 . The registered office is Mercia House , 15 Galena Close, Tamworth, Staffordshire, B77 4AS.
The group consists of Radis Limited and all of its subsidiaries.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The 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 are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are round to the nearest £.
The financial statements have been prepared under the historic cost convention as modified by the revaluation of investment properties. The principal accounting policies adopted are set out below.
The company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements for parent company information presented within the consolidated financial statements:
  • Section 4 ‘Statement of Financial Position’ – Reconciliation of the opening and closing number of shares;
  • Section 7 ‘Statement of Cash Flows’ – Presentation of a statement of cash flow and related notes and disclosures;
  • Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues’ – Carrying amounts, interest income/expense and net gains/losses for each category of financial instrument; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;
  • Section 33 ‘Related Party Disclosures’ – Compensation for key management personnel.
2.2. Basis Of Consolidation
The consolidated financial statements incorporate those of Radis Limited and all of its subsidiaries (ie entities that the group controls through its power to govern the financial and operating policies so as to obtain economic benefits). Subsidiaries acquired during the year are consolidated using the purchase method. Their results are incorporated from the date that control passes.
All financial statements are made up to 31 August 2024. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.
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.
2.3. Business Combinations
In the parent company financial statements, the cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. Investments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.
Deferred tax is recognised on differences between the value of assets (other than goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liability is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill or negative goodwill.
2.4. Going Concern Disclosure
At the time of approving the financial statements, the directors have a reasonable expectation that the company and group have adequate resources to continue in operational existence for the foreseeable future. Detailed trading cash flow forecasts have been prepared covering a period of greater than 12 months from the date of approval of these financial statements. The forecasts indicate that the company and group will have adequate resources to continue to trade for the foreseeable future without the need for additional sources of funds. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
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2.5. Significant judgements and estimations
In the application of the group’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.
Key sources of estimation uncertainty
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.
Bad and doubtful debts
The directors review trade receivables at each balance sheet date for impairment. Impairment of individually significant balances is assessed with an appropriate impairment provision being made when it is probable that the cash due will not be received in full. Individual non-significant balances are measured on a portfolio basis and assessed for impairment using historical loss experience.
2.6. Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. 
Revenue from the provision of professional services is recognised by reference to the date of provision of the services.
2.7. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.8. Intangible Fixed Assets and Amortisation - Other Intangibles
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Software 
3 years straight line
Contracts
5-10 years straight line
2.9. Tangible Fixed Assets and Depreciation
Tangible fixed assets other than freehold land are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold 40-50 years straight line
Motor Vehicles 5 years straight line
Fixtures & Fittings 5 years straight line
Computer Equipment 3 years straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.
2.10. Investment Properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
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2.11. Investments
Equity investments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available. 
In the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
2.12. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
2.13. Financial Instruments
The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the group's balance sheet when the group becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset and 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.
Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date. 
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
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 group after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans and loans from fellow group companies 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.
Derecognition of financial liabilities
Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.
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2.14. Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt within equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
2.15. Employee Benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
Termination benefits are recognised immediately as an expense when the group is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2.16. Pensions
The group operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
The group also participates in two multi-employer defined benefit pension schemes, the Local Government Pension scheme and the NHS Pension scheme. Under the TUPE arrangements for employees who were already members of these schemes when their employment contracts were transferred to the group, the group's obligations are to pay current contributions but have been indemnified by the relevant local authority to contribute towards any scheme deficit that may exist.
As such, the schemes have been accounted for a defined contribution pension scheme and the pension costs in respect of these schemes represent contributions payable in the period.
2.17. Government Grant
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2.18. Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.
2.19. Equity instruments
Equity instruments issued by the group 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 group.
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2.20. Impairment of Fixed Assets
At each reporting period end date, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease. 
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
3. Turnover
Analysis of turnover by class of business is as follows:
2024 2023
£ £
Provision of care and support services 56,255,413 53,121,473
Provision of cleaning services 289,303 302,360
Rental income 28,361 27,301
56,573,077 53,451,134
Analysis of turnover by geographical market is as follows:
2024 2023
£ £
United Kingdom 56,573,077 53,451,134
56,573,077 53,451,134
2024
2023
Other revenue
£
£
Interest income
72,010
51,978
Grants received
42,724
135,983
Void rent
126,555
154,910
Insurance receipt
500
55,540
Exceptional item
2024
2023
£
£
Grant income
-
96,660
Exceptional income relates to additional income received to assist the company with the effects of the covid-19 pandemic.
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4. Auditor's Remuneration
Remuneration received by the company's auditors and their associates during the year was as follows:
2024 2023
£ £
Audit Services
Audit of the group and company's financial statements 115,629 104,554
Other Services
Taxation compliance service - 14,070
Other non-audit services - 9,948
- 24,018
Of the audit services above, £84,817 (2023 - £76,834) related to the company's subsidiaries.
5. Staff Costs
Staff costs, including directors' remuneration, were as follows:
2024 2023
£ £
Wages and salaries 45,204,549 42,190,870
Social security costs 3,485,601 3,150,717
Other pension costs 988,388 942,520
49,678,538 46,284,107
6. Average Number of Employees
Group
The average monthly number of persons (including directors) employed by the group and company during the year was:
2024 2023
Carers 2,310 2,272
Office and support staff 184 161
2,494 2,433
Company
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
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7. Directors' remuneration
2024 2023
£ £
Emoluments 203,637 199,772
Company contributions to money purchase pension schemes 13,677 9,253
217,314 209,025
The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 2 (2023: 2)
Information regarding the highest paid director was as follows:
2024 2023
£ £
Emoluments 103,246 101,726
Company contributions to money purchase pension schemes 1,800 3,702
105,046 105,428
8. Interest Receivable and Similar Income
2024 2023
£ £
Bank interest receivable 22,793 13,003
Other interest income 49,217 38,975
72,010 51,978
9. Interest Payable and Similar Charges
2024 2023
£ £
Bank loans and overdrafts 93,621 162,176
10. Tax on Profit
The tax charge/(credit) on the profit/(loss) for the year was as follows:
Tax Rate 2024 2023
2024 2023 £ £
Current tax
UK Corporation Tax 25.0% 21.5% - -
Prior period adjustment 30,938 (32,066 )
30,938 (32,066 )
Deferred Tax
Deferred taxation 10,259 (106,664 )
Total tax charge/(credit) for the period 41,197 (138,730 )
The actual charge/(credit) for the year can be reconciled to the expected charge/(credit) for the year based on the profit/(loss) and the standard rate of corporation tax as follows:
...CONTINUED
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2024 2023
£ £
Profit/(loss) before tax 99,269 (863,264)
Tax on profit at 25% (UK standard rate) 24,817 (185,774 )
Expenses not deductible for tax purposes 57,769 39,869
Tax losses utilised (115,909 ) 36,431
Permanent capital allowances in excess of depreciation 1,217 (33,589 )
Prior period adjustment 30,938 (32,066 )
Deferred tax from unrecognised tax loss or credit 42,365 59,604
Deferred tax relating to changes in tax rates or laws - (23,205 )
Total tax charge for the period 41,197 (138,730)
11. Operating profit/(loss)
2024
2023
£
£
Government grants
(42,724)
(135,983)
Depreciation of owned tangible fixed assets
256,444
242,401
Profit on disposal of tangible fixed assets 
(400)
(128,371)
Amortisation of intangible assets
202,445
202,446
Operating lease charges
312,845
337,281
12. Intangible Assets
Group
Goodwill Software Contracts Total
£ £ £ £
Cost
As at 1 September 2023 4,911,625 128,729 1,667,102 6,707,456
Additions - 9,120 - 9,120
As at 31 August 2024 4,911,625 137,849 1,667,102 6,716,576
Amortisation
As at 1 September 2023 4,911,625 62,081 419,421 5,393,127
Provided during the period - 42,910 159,535 202,445
As at 31 August 2024 4,911,625 104,991 578,956 5,595,572
Net Book Value
As at 31 August 2024 - 32,858 1,088,146 1,121,004
As at 1 September 2023 - 66,648 1,247,681 1,314,329
Company
The company had no intangible fixed assets as at 31 August 2024 or 31 August 2023.
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13. Tangible Assets
Group
Land & Property
Freehold Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost or Valuation
As at 1 September 2023 1,625,194 14,993 262,018 980,841 2,883,046
Additions - - 86,473 199,801 286,274
Disposals - (12,974 ) - - (12,974 )
As at 31 August 2024 1,625,194 2,019 348,491 1,180,642 3,156,346
Depreciation
As at 1 September 2023 303,497 14,993 151,989 791,747 1,262,226
Provided during the period 50,204 - 39,310 166,930 256,444
Disposals - (12,974 ) - - (12,974 )
As at 31 August 2024 353,701 2,019 191,299 958,677 1,505,696
Net Book Value
As at 31 August 2024 1,271,493 - 157,192 221,965 1,650,650
As at 1 September 2023 1,321,697 - 110,029 189,094 1,620,820
Company
Land & Property
Freehold
£
Cost
As at 1 September 2023 1,035,194
As at 31 August 2024 1,035,194
Depreciation
As at 1 September 2023 242,228
Provided during the period 20,704
As at 31 August 2024 262,932
Net Book Value
As at 31 August 2024 772,262
As at 1 September 2023 792,966
The company holds properties which are rented to other group companies. The directors have accounted for these within property, plant and equipment.
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14. Investment Property
Group
2024
£
Fair Value
As at 1 September 2023 565,000
Revaluations (60,000)
As at 31 August 2024 505,000
Investment property comprises of properties held by DEEP Properties Limited. The properties were professionally revalued in April 2024 by Eddisons and the directors believe the market value at 31st August 2024 does not materially differ.
Company
The company had no investment property as at 31 August 2024 or 31 August 2023.
15. Investments
Company
Subsidiaries
£
Cost
As at 1 September 2023 1,184,484
As at 31 August 2024 1,184,484
Provision
As at 1 September 2023 -
As at 31 August 2024 -
Net Book Value
As at 31 August 2024 1,184,484
As at 1 September 2023 1,184,484
Subsidiaries
Details of the company's subsidiaries as at 31 August 2024 are as follows:
Name of undertaking Registered Office Class of shares held Direct holding Indirect holding
GP Homecare Limited England & Wales Ordinary 100.00% -
Radis Staff Solutions Limited England & Wales Ordinary & Preference - 100.00%
Focus Care Services Limited England & Wales Ordinary - 100.00%
Lucy Glyn Support Services Limited England & Wales Ordinary - 100.00%
DEEP Properties Limited England & Wales Ordinary - 100.00%
The group also indirectly held 100% of the ordinary share capital of County Home Care Services Limited and Greenslade Services Limited, both dormant companies registered in England & Wales, until the companies were dissolved on 10th December 2024.
GP Homecare Limited, Focus Care Services Limited and Lucy Glyn Support Services Limited all supply healthcare services. Focus Care Services Limited and Lucy Glyn Support Services Limited have not traded since 1st May 2024.
Radis Staff Solutions Limited supply cleaning staff.
DEEP Properties Limited is an investment property company.
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16. Debtors
Group Company
2024 2023 2024 2023
£ £ £ £
Due within one year
Trade debtors 2,862,646 3,297,444 - -
Prepayments and accrued income 3,045,409 2,918,691 - -
Other debtors 158,723 84,111 - -
Corporation tax recoverable assets 2,246 211,181 - -
6,069,024 6,511,427 - -
Due after more than one year
Other debtors 901,928 961,973 - -
6,970,952 7,473,400 - -
17. Creditors: Amounts Falling Due Within One Year
Group Company
2024 2023 2024 2023
£ £ £ £
Trade creditors 149,258 574,719 - -
Bank loans and overdrafts 50,514 1,382,352 50,514 1,382,352
Amounts owed to group undertakings - - 285,021 254,199
Other creditors 823,196 1,193,926 - -
Taxation and social security 729,395 710,783 - -
Accruals and deferred income 3,771,382 3,568,569 52,893 36,651
5,523,745 7,430,349 388,428 1,673,202
18. Creditors: Amounts Falling Due After More Than One Year
Group Company
2024 2023 2024 2023
£ £ £ £
Bank loans 1,341,450 - 1,341,450 -
Of the creditors falling due after more than one year the following amounts are due after more than five years.
Group Company
2024 2023 2024 2023
£ £ £ £
Bank loans 1,094,095 - 1,094,095 -
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19. Loans
An analysis of the maturity of loans is given below:
Group Company
2024 2023 2024 2023
£ £ £ £
Amounts falling due within one year or on demand:
Bank loans 50,514 1,382,352 50,514 1,382,352
Group Company
2024 2023 2024 2023
£ £ £ £
Amounts falling due between one and five years:
Bank loans 247,355 - 247,355 -
Group Company
2024 2023 2024 2023
£ £ £ £
Amounts falling due after more than five years:
Bank loans 1,094,095 - 1,094,095 -
20. Deferred Taxation
Deferred tax assets and liabilities are offset where the group or company has a legally enforceable right to do so. The following is the analysis of the deferred tax balances (after offset) for financial reporting purposes:
2024 2023
£ £
Accelerated capital allowances 90,598 62,315
Revaluation of property, plant and equipment 22,635 -
Tax losses carried forward (64,456 ) (54,575 )
Other timing differences (35,778) (5,000)
12,999 2,740
The company has no deferred tax assets or liabilities.
Group
Company
2024
2024
£
£
Movements in the year:
Liability at 1 September 2023
2,740
-
Debit to profit or loss
10,259
-
Liability at 31st August 2024
12,999
-
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21. Share Capital
2024 2023
Allotted, called up and fully paid £ £
4,000 Ordinary A shares of £ 1 each 4,000 4,000
116,000 Ordinary B shares of £ 1 each 116,000 116,000
6,316 Ordinary C shares of £ 1 each 6,316 6,316
126,316 126,316
All classes of shares rank pari passu save in the respect of dividends.
22. Other Commitments
At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
2024 2023
£ £
Not later than one year 188,053 210,502
Later than one year and not later than five years 63,262 120,815
Later than five years 1,584 4,752
252,899 336,069
23. Pension Commitments
A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund. The group also makes contributions to multi-employer defined benefit pension schemes. Contributions to those schemes are accounted for as defined benefit schemes.
During the year the charge to profit or loss in respect of defined contribution schemes was £988,388 (2023: £942,520).
24. Directors Advances, Credits and Guarantees
Dividends totalling £168,000 (2023: £168,000) were paid in the year in respect of shares held by the company's directors.
25. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 168,000 168,000
26. Reserves
Share premium
This reserve records the amount above the nominal value received for shares sold, less transaction costs.
Profit and loss reserves
This reserve includes all current and prior period retained profits and losses.
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27. Related Party Disclosures
Remuneration of key management personnel
The remuneration of key management personnel is as follows.
2024
2023
£
£
Aggregate compensation
217,314
209,025
Transactions with related parties
The group has taken advantage of the exemption available in the Financial Reporting Standard applicable in the UK and Republic of Ireland ("FRS 102") whereby it has not disclosed transactions between wholly owned undertakings.
G P Homecare Ltd paid rent to Ridge/Patel Partnership amounting to £44,000 (2023: £44,000), a partnership in which D R Patel, a shareholder in Radis Limited, is a partner.
At the year end a loan of £1,011,190 (2023: £961,973) was owed by Baringo Properties Limited, a company controlled by the directors and shareholders S R Patel and D R Patel and is included in 'Other Debtors' (note 17). The loan is unsecured and is interest bearing of 5% per annum rolled up for 3 years. 
28. Controlling Parties
The ultimate controlling parties are the directors S Patel and D Patel and other family members.
29. Financial commitments, guarantees and contingent liabilities
There is a cross company guarantee and debenture in place in respect of the group overdraft facility and borrowings totalling £1,391,964 (2023: £1,382,352). At the year end date, all assets within the group are held as security against this.
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