Company registration number 05894573 (England and Wales)
PATHFINDERS-CARE (OLLERTON) LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
PATHFINDERS-CARE (OLLERTON) LIMITED
COMPANY INFORMATION
Directors
Dr A J Nall
Mr S Paterson
Company number
05894573
Registered office
Cabourn House
Station Street
Bingham
Nottinghamshire
United Kingdom
NG13 8AQ
Auditor
Xeinadin Audit Limited
Cabourn House
Station Street
Bingham
Nottinghamshire
United Kingdom
NG13 8AQ
PATHFINDERS-CARE (OLLERTON) LIMITED
CONTENTS
Page
Strategic report
1 - 9
Directors' report
10 - 11
Independent auditor's report
12 - 14
Profit and loss account
15
Group statement of comprehensive income
16
Group balance sheet
17
Company balance sheet
18
Group statement of changes in equity
19
Company statement of changes in equity
20
Group statement of cash flows
21
Notes to the financial statements
22 - 37
PATHFINDERS-CARE (OLLERTON) LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 JANUARY 2025
- 1 -

The directors present the strategic report for the year ended 31 January 2025.

Our Business

We are registered with our regulatory body the CQC as a 78 bedded specialist care nursing home comprising 6 units. Each unit is capable of operating autonomously.

 

During 24/25 we continued to cater of people of working age with long term conditions, end of life care with an increasing component of neurological and respiratory rehabilitation, symptom management, multiple complex co-morbidities and respite care. We have 7 Bariatric ensuite rooms capable of managing patients of up to 41 stone/260kg. We are also registered on an individual basis to take patients in their transition year (age 16+ years) so long as the complexity of their care warrants being admitted to our facility and they are likely to remain into adulthood. We are seeing an increased number of referrals for dual diagnosis patients with challenging behaviours and complex physical behaviours.

 

We continue to expand our team, increasing specialisms and capability with multiple physical complexities. Patients are supported by a highly trained multidisciplinary team including registered nurses, neuro and respiratory physiotherapists, occupational therapists, speech and language therapists for communication and swallow, specialists in mental capacity and safeguarding, a Wellbeing and Activities team and specialist one to one carers trained in specific complex individual patient care.

 

We continue to refresh and expand our offering of environment and facilities. There is full free Wi-Fi, plentiful well-tended garden and communal areas frequently hosting community and home events such as the Dog Show, the annual events such as the garden party, the fireworks and hog Roast and the Heroes events. There is a gardening club and there is plenty of space suitable for children to visit. We also have a well-equipped and well used specialist rehabilitation gymnasium and a smaller rehabilitation room. We are pet friendly and will accommodate service dogs to accompany patients for respite care. We have regular well attended weekly access to a swimming pool suitable for rehabilitation. The business is set within a residential area with many options for interacting with the local community and the surrounding countryside which is fully wheelchair accessible. We have regular use of specialist travel facilities to enable journeys to attractions such as the seaside, shopping malls and tourist attractions for day trips.

 

We have actively pursued positive relationships with our partner organisations within the NHS and Local Authorities particularly by developing CPD and training to share in a way which supports our patients on occasions when they are admitted to hospital or can be transferred to care in their own homes. We have recognised that due to the complexity of our patients the skills required for them to be cared for in other settings may be rare and therefore we may have to share skills with partner organisations to ensure optimum patient outcomes and wheresoever possible their independence. Examples would be to share skills with external agencies and families in order to be able to move patients into more community or home-based settings The most popular of these is Moving and Handling and Advanced Bowel Care. Because of this we have continued to expand our training function by identifying skills, standards and professional competencies. This year we have increased our training offering regarding challenging behavioural issues.

 

Our clinical aims are to:

Our employment aims are to:

 

PATHFINDERS-CARE (OLLERTON) LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 2 -

Our business aims are to:

 

During the year we provided a service throughout the UK, although predominantly within a 100-mile radius. Our services were commissioned in the main by NHS led services and the local authority; we take patients from 14 different commissioning bodies nationwide. There are very few other providers that are able to supply the complex care and rehabilitation offering that we do.

 

The challenges facing our business this year are common to most businesses in what continues to be a challenging landscape. Although the overall inflation rate has fallen back to an average of 2.5% during the year, the aftermath of the previous years means that food and energy inflation has remained stubbornly high and specialist supplies and services have all raised prices well above inflation. Government change has led to increases in business costs for employment amounting to an additional 12.5% in the pay bill. Public bodies have had financial difficulties that have led them to making cuts and economies that we have had to navigate to ensure we are paid a fair rate and that patients’ care packages are not compromised. Recruitment and retention continue to be a strain on the business leading to restricting the number of beds we are able to make available.

 

During the year we have recognised the challenges and responded by:

 

1. Reducing our service capacity to a level that can be fulfilled by our ability to service a working rota without using agency or reducing employment standards

 

2. Using our reduced capacity and staffing numbers as an opportunity to introduce changes to working practices, introducing technology-based care solutions and upskilling

 

3. Refining our service offering. Increasing our ability to manage highly complex physical care. We are fulfilling a market need that is hard to address and in increasingly short supply, despite rising numbers of people needing this service

 

4. Ensuring we are appropriately remunerated for the complexity of the care that we deliver. We have engaged the use of an industry recognised programme, Care Cubed, for assessing true care costs.

 

5. Ensuring transparency, meritocracy, equality and fairness through a published pay spine. Staff are able to understand how they can increase their earning opportunities through increased skill sets and how their pay stacks up against others in the care landscape.

 

6. Increasing investment in our staff skills and capability

a. Increasing skill sets

b. Increasing team sizes and breadth of ability to service complex needs

c. Redefining teams and responsibilities, for example introducing fully nurse led units

 

7. Increasing investment in IT infrastructure to meet the needs of a more data driven service. This includes a greater awareness of cyber security and our preparedness and resilience to tolerate cyber threats.

 

8. Continuing to invest and roll out software for care planning, telecommunications, staff communication and medication management

 

9. Embedding changes in legislation and governance

 

10. Ensuring we are managing our cashflow to accommodate vastly increased running costs

 

PATHFINDERS-CARE (OLLERTON) LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 3 -

The Care Landscape

During the year we have been prepared for changes in the way we are regulated by the Care Quality Commission (CQC).

 

Most care companies continue to fight a rear-guard action to preserve and increase fees and ensure the vastly increased costs of care can be met. Commissioners have become more aggressive in their commissioning and reviewing with the emphasis on reducing fees rather than promoting patient choice or outcomes.

 

The local Authorities and Health Authorities although reorganised to form Integrated Care Boards (ICBs) are still navigating what this change means to them and continue to wrangle internally regarding payment of patient fees.

 

We have completed our move to digital processes to ensure a smoother more efficient way of managing our systems and records across all areas from care delivery through to all aspects of running the business. We continue to revise the cost of our care packages and what is contained within our offering to suit the new financial aims of our commissioners. This can lead to frustration from patients and their families who have expectations that need to be managed as their aspirations of care cannot necessarily be met within the new financial strictures. During the year recruitment and retention has improved from the previous year and we constantly assess how we can improve retention. We have also continued to flex occupancy to accommodate staffing numbers. Along with many homes we reduced our bed capacity in order to ensure we were correctly staffed. We have continued in our commitment not to employ agency staff.

 

As in the previous year, we acknowledge our banking partners at Santander who have been proactive and supportive with sound advice and guidance.

Staffing and Training

Many of our long term aims and training programs are now bearing fruit, for instance we now have a number of staff who have completed their NVQ level 5, expanded roles within the Senior Team and we have seen our further qualified Nursing Associates who have completed their apprenticeships. Four of these newly qualified Ans have now started their university courses to complete them on their journeys to become Level 1 Registered Nurses. This is a large financial commitment from the company. We now see a regular supply of staff qualifying for registered professional roles within the company. This allows for the company to offer complexity of care safe within the knowledge that the expertise is in plentiful supply within the company. There is also a value held within the company that we should ensure that we are not denuding the NHS of qualified staff but are adding to the national pool of registered staff. The recruitment market remains problematic with a great deal of difficulty in recruiting into non-registered posts. We still find we have a high level of staff turnover predominantly within staff who have been with the company for less than 6 months and generally within non registered staff, although it is not out of line with the national norm. We have a very low level of sickness and absence, generally below 3%. We continue to look for ways to build workforce resilience and therefore increase retention.

 

We continued to peg our pay spine to mimic the NHS Agenda for Change pay spine. Pay is placed alongside a required skills and competency platform which we call our Bronze, Silver and Gold Passports. The more clinical competence a person can demonstrate and use the more they are paid. This in turn allows us to take patients with increasing levels of complexity and larger care packages that come with them. The Training team ensures staff have equal access to these opportunities. This approach supports staff sustainability by providing real career skills and development so that a pathway in care employment has been established. The measures that we have put in place have led to an improvement in recruitment and retention from the previous 2 years but there is still much work to be done.

 

As with last year we continue to work with University of Lincoln and now also University of Nottingham to develop the Nursing Associate role. We are sponsoring and supporting a Speech and Language Therapy Graduate Student and Physiotherapy Graduate Student both at Sheffield University. In addition to our funding, we also have gained funding from our Local Authorities to support this training. These educational routes continue to be fully funded for study with us providing fully paid employment status. We know that having this pathway attracts candidates for employment and longer term, provide stability in numbers of registered staff available to Pathfinders-Care.

PATHFINDERS-CARE (OLLERTON) LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 4 -

Quality Markers

During the year we had reviews and onsite inspections for infection control and general compliance from the Local Authorities and NHS Commissioners. These are published in the usual manner and are available on both our websites and those of the relevant public bodies. Our CQC rating remains Good. We passed all fire inspections and safety inspections from the Local Authorities, Fire and Rescue Authority and ICBs. The state of repair of the buildings, facilities and equipment remain good with constant rolling maintenance and routine inspection schedules. We anticipate refreshing and renewing Kitchen facilities which we started in 2024 and will continue through the home throughout 2025. We have once again been recognised by the Alantra Specialist Care Fast 50 for the financial stability and growth of the company.

Actions taken to give full and fair consideration to applications for employment of disabled persons with regard to their particular aptitudes and abilities

Familiarisation Days - Allows for us to see the full abilities of the candidate - those that may struggle with interviews due to learning disabilities, anxiety, may thrive on the floor with patients whilst shadowing

 

We use values-based recruitment which focuses on the company’s core values and means that as long as applicants show the correct values then previous experience is not necessary (which they may have been excluded from due to their disability)


Raised thresholds for absence procedures and probation when absence is linked to a person’s disability and wellbeing conversations to ensure that adjustments remain relevant supported by Occupational Health advice where necessary. We offer flexibility around timing, length and number of shifts so that employees may attend appointments and thus avoid absence. We offer flexibility around job roles wherever this is possible to roles that might make the most of abilities and limit difficulties. Examples have been Enabler to Ward Clerk, Training admin to Pharmacy Assistant.

 

Adjusting working times to suit individual needs- e.g., if pain is in the morning and gets better throughout the day then offering later or afternoon hours

 

An Employee Assistance Programme and a well promoted wellbeing support process is in place for those that would otherwise go off with anxiety, depression or other mental wellbeing issues.

 

Special arrangements for assisting disabled employees to further their careers, train, gain promotion

The Training team extensively use learning aids as they are identify and respond to staff who may require additional support to help them achieve the continuous professional development or career goals they may have. Examples also include:

 

PATHFINDERS-CARE (OLLERTON) LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 5 -

Employee Engagement

With a large staffing contingent covering diverse shifts, it has become vital to include the staff in ensuring good communication of company messages and involvement in the implementation of the company performance and vision.

 

This is accomplished through:

1. Regular Senior Management meetings (average 2 per month) involving all heads of departments

2. Regular staff meetings at unit level

3. Use of PlanDay for real-time online messaging and involvement of staff

4. Ensuring registered staff have their Union or registered body sponsored by the company (this also ensure that we know our registered staff are still within their respective registers and have individual professional indemnity in place)

5. Stakeholder involvement through regular meeting led by the Business Services team, public notice boards and social media through Facebook, company website and Instagram

6. Regular feedback surveys of staff and stakeholders that are reported back into the regular Senior Management Meeting

7. Updates posted on PlanDay from the Director twice a year on the company performance and financial position including how this will be affecting or improving their financial reward through the pay spine.

8. The Senior Management Team are involved in the review of Management Accounts on a monthly basis to they can understand the impact of their decisions and their performance on the running of the company.


Despite continued uncertainty within the healthcare market, we have remained steady due to good senior management collaboration and communication. We continue to reposition our offering to ensure relevance to the market. We continue to establish ourselves as a trusted deliverer of complex physical care and in particular for patients with respiratory, spinal involvement and rehabilitation needs. We are seeing a build-up of patients and families who are increasingly frustrated with the care and funding system and overstretched professionals. This has led to an increase in fractious behaviours and moving forward we will address the most challenging of these by expanding our ability to manage challenging behaviours. We have set in train the plan for 2025 to set aside a unit with specially trained staff for these patients. We have continued to increase and modernise our staff complement and our approach to the delivery of care and collaboration with our business partners. We have a highly skilled and sufficient workforce, we have our costs under control (world events and inflation not withstanding), we have a robust well managed facility, we have a viable patient offering and pricing structure. We will enter the new financial year ready to take advantage of this groundwork.

Financial Review

The results for the year which are set out in the consolidated income statement show a turnover of £9,283,832 (2024 - 8,549,942) and a gross profit of £2,361,795 (2024 - £2,029,406) a rise of 15.13%.

 

Cost of sales were up on the previous year by 5.9% representing a levelling out of the increasing inflationary pressures experience the previous year but still higher than the national inflation rate. Administrative expenses were increased by 3.4% and still showing positive returns on our digital investment with increased individual productivity.

 

Key performance indicators including weekly rates, gross margin, operating profit and EBITDA are an integral part of the monthly management accounts which focus on actual performance against forecast performance. During the year we can see continued performance can be erratic although the overall trend is upwards. Management accounts show that the business costs are well controlled and the moveable factor is patient package dependant. Energy costs continue to be controlled by rolling out environmental improvement schemes to ensuring lighting was moved to energy saving LED lights (this rolling 18-month programme concluded during the year) and the use of solar panels that cover the roof of all three buildings and provides a useful source of electricity to the business and to sell back into the grid). Medical supplies often continue to be in short supply and have therefore seen increases well above inflation. Interest rates have stabilised and we have negotiated a lower rate due to good business performance. Our overall aim continued to be to maintain stability and ensure potential for future growth whenever that became possible. The company continues to make investments in IT infrastructure, software for care delivery and telecommunications upgrades. We have addressed the increasing problem of pigeons that were nesting and multiplying on the roof under the solar panels. We have invested in the garden spaces to ensure a welcoming space for patients, their families and staff to spend meaningful time within. The gardening project was heavily sponsored by companies in the local community and the engagement of a gardener who has also had significant input into the newly established gardening club: this is well attended by patients and their families.

PATHFINDERS-CARE (OLLERTON) LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 6 -
Development and performance

We have also invested heavily in our staff to ensure we can pursue the niche and under-served market of highly complex physical care. We became more assertive in cash flow management, in particular in ensuring invoices were paid in a timelier manner continuing with no aged debt.

By the close of the financial year although we showed a much-increased cash position than at the beginning of the year which has been retained within the company, cash flow remains vigorously managed moving from a cash negative position at the beginning of the year to cash positive at the end of the year.

We were able to report a 33.34% increase in operating profit of £1,040,454 (2024 – 743,101) this being due to continuing a strategy of individually priced packages for highly complex physical care patients and a continuing strong stance on fees based on understanding of real costs gleaned through the comprehensive monthly management accounts and use of Care Cubed software. Although potential income was offset by the reduction in bed numbers to accommodate staffing numbers. The turbulence of the year and impact of reducing bed numbers can be clearly seen in the weekly bed totals. The overall impact of our strategy with income shows a 20k rise in overall weekly fees and the strategy can be seen in the weekly bed register range in the chart below

At 31st January 2025 the group had increased net assets of £5,854,704 (2024 – £5,748,334)

The overall profit for the year after tax was 49.39% higher at £554,608 (2024 – £334,931)

 

The Directors consider the performance for the year to be a significant improvement on the previous year as we move further into the long-term improvement plan and post pandemic repositioning and digital upgrading. The Directors consider the performance to be robust in the face of external pressures and the financial position to be fair, particularly considering the challenges of the year.

PATHFINDERS-CARE (OLLERTON) LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 7 -

Principle Risks and Uncertainties
The main risks as we see them are unpredictable world events that may destabilise the economy and energy and food supplies, workforce availability and expectations, inflationary forces including taxes and availability/price of energy, cyber security.

Secondary risks are around legislation and regulatory practice as these continue in their latest iteration untested.

 

Ongoing risks are around commissioning processes and the squeeze on the public purse that translates into pressure on patient packages and lowering of public resources.

PATHFINDERS-CARE (OLLERTON) LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 8 -
PATHFINDERS-CARE (OLLERTON) LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 9 -

On behalf of the board

Mr S Paterson
Director
8 July 2025
PATHFINDERS-CARE (OLLERTON) LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 JANUARY 2025
- 10 -

The directors present their annual report and financial statements for the year ended 31 January 2025.

Results and dividends

The results for the year are set out on page 15.

Ordinary dividends were paid amounting to £449,438. 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:

Dr A J Nall
Mr S Paterson
Disabled persons

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

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 about 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.

 

There is no employee share scheme at present, but the directors are considering the introduction of such a scheme as a means of further encouraging the involvement of employees in the company's performance.

Statement of directors' responsibilities

The directors are responsible for preparing the Annual 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 group and company, and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

 

 

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s 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.

PATHFINDERS-CARE (OLLERTON) LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 11 -
Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
Mr S Paterson
Director
8 July 2025
PATHFINDERS-CARE (OLLERTON) LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF PATHFINDERS-CARE (OLLERTON) LIMITED
- 12 -
Opinion

We have audited the financial statements of Pathfinders-Care (Ollerton) Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 January 2025 which comprise the group profit and loss account, the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows and notes to the financial statements, including 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:

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.

Emphasis of matter

We draw your attention to the 'Going concern' accounting policy, located at the start of the notes to the financial statements. This explains the circumstances arising that have resulted in the net current liability position on the balance sheet, being the timing of the bank facility renewals, as well as reference to the subsequent events that enable the conclusion that there is no material concern over the use of the going concern basis. Our opinion is not modified in respect of this matter.

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's and parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

Our responsibilities and the responsibilities of the 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. 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 course of 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.

PATHFINDERS-CARE (OLLERTON) LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF PATHFINDERS-CARE (OLLERTON) LIMITED
- 13 -

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and 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:

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, 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 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 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.

1) We obtained an understanding of the legal and regulatory framework applicable to the Group in the sector in which they operate.

2) We obtained an understanding of how the Group is complying with those legal and regulatory frameworks by making inquiries to management. We corroborated our inquiries through review of the legal and professional expenditure incurred as well as available information on the Company's website.

PATHFINDERS-CARE (OLLERTON) LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF PATHFINDERS-CARE (OLLERTON) LIMITED
- 14 -

3) We assessed the susceptibility of the Group's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included:

- Identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud;

 

- Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;

 

- Challenging assumptions and judgements made by management in accounting estimates;

 

- Identifying and testing journal entries, in particular any that appear unusual;

 

- Reviewing most recent inspection reports by regulatory bodies and assess the impact on the financial statements (if any). The fundamental regulations required by the company are those enforced and inspected by the CQC (Care Quality Commission).

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

Use of our report

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

Janet Charlton BA FCA (Senior Statutory Auditor)
For and on behalf of Xeinadin Audit Limited, Statutory Auditor
Chartered Accountants
Cabourn House
Station Street
Bingham
Nottinghamshire
NG13 8AQ
United Kingdom
8 July 2025
PATHFINDERS-CARE (OLLERTON) LIMITED
GROUP PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 JANUARY 2025
- 15 -
2025
2024
Notes
£
£
Turnover
2
9,283,832
8,549,942
Cost of sales
(6,922,037)
(6,520,536)
Gross profit
2,361,795
2,029,406
Administrative expenses
(1,370,515)
(1,324,081)
Other operating income
49,174
37,776
Operating profit
3
1,040,454
743,101
Interest receivable and similar income
6
1,564
1,776
Interest payable and similar expenses
7
(309,794)
(323,923)
Profit before taxation
732,224
420,954
Tax on profit
8
(177,616)
(86,023)
Profit for the financial year
23
554,608
334,931
Profit for the financial year is all attributable to the owners of the parent company.
PATHFINDERS-CARE (OLLERTON) LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 JANUARY 2025
- 16 -
2025
2024
£
£
Profit for the year
554,608
334,931
Other comprehensive income
-
-
Total comprehensive income for the year
554,608
334,931
Total comprehensive income for the year is all attributable to the owners of the parent company.
PATHFINDERS-CARE (OLLERTON) LIMITED
GROUP BALANCE SHEET
AS AT
31 JANUARY 2025
31 January 2025
- 17 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
10
10,248,383
10,267,121
Current assets
Stocks
14
356,263
363,463
Debtors
15
403,578
537,678
Cash at bank and in hand
407,797
21,946
1,167,638
923,087
Creditors: amounts falling due within one year
16
(4,743,606)
(4,622,963)
Net current liabilities
(3,575,968)
(3,699,876)
Total assets less current liabilities
6,672,415
6,567,245
Creditors: amounts falling due after more than one year
17
(20,000)
(20,000)
Provisions for liabilities
Deferred tax liability
19
812,935
812,935
(812,935)
(812,935)
Net assets
5,839,480
5,734,310
Capital and reserves
Called up share capital
21
50,000
50,000
Revaluation reserve
22
3,712,827
3,712,827
Profit and loss reserves
23
2,076,653
1,971,483
Total equity
5,839,480
5,734,310

These financial statements have been prepared in accordance with the provisions relating to medium-sized groups.

The financial statements were approved by the board of directors and authorised for issue on 8 July 2025 and are signed on its behalf by:
08 July 2025
Mr S Paterson
Director
Company registration number 05894573 (England and Wales)
PATHFINDERS-CARE (OLLERTON) LIMITED
COMPANY BALANCE SHEET
AS AT 31 JANUARY 2025
31 January 2025
- 18 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
10
10,248,383
10,267,121
Investments
11
1
1
10,248,384
10,267,122
Current assets
Stocks
14
6,102
13,302
Debtors
15
726,536
859,436
Cash at bank and in hand
407,792
21,941
1,140,430
894,679
Creditors: amounts falling due within one year
16
(4,721,175)
(4,600,532)
Net current liabilities
(3,580,745)
(3,705,853)
Total assets less current liabilities
6,667,639
6,561,269
Provisions for liabilities
Deferred tax liability
19
812,935
812,935
(812,935)
(812,935)
Net assets
5,854,704
5,748,334
Capital and reserves
Called up share capital
21
50,000
50,000
Revaluation reserve
22
3,712,827
3,712,827
Profit and loss reserves
23
2,091,877
1,985,507
Total equity
5,854,704
5,748,334

As permitted by s408 Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s profit for the year was £555,808 (2024 - £336,225 profit).

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 8 July 2025 and are signed on its behalf by:
08 July 2025
Mr S Paterson
Director
Company registration number 05894573 (England and Wales)
PATHFINDERS-CARE (OLLERTON) LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JANUARY 2025
- 19 -
Share capital
Revaluation reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 February 2023
50,000
3,712,827
1,899,340
5,662,167
Year ended 31 January 2024:
Profit and total comprehensive income
-
-
334,931
334,931
Dividends
9
-
-
(262,788)
(262,788)
Balance at 31 January 2024
50,000
3,712,827
1,971,483
5,734,310
Year ended 31 January 2025:
Profit and total comprehensive income
-
-
554,608
554,608
Dividends
9
-
-
(449,438)
(449,438)
Balance at 31 January 2025
50,000
3,712,827
2,076,653
5,839,480
PATHFINDERS-CARE (OLLERTON) LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JANUARY 2025
- 20 -
Share capital
Revaluation reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 February 2023
50,000
3,712,827
1,912,070
5,674,897
Year ended 31 January 2024:
Profit and total comprehensive income for the year
-
-
336,225
336,225
Dividends
9
-
-
(262,788)
(262,788)
Balance at 31 January 2024
50,000
3,712,827
1,985,507
5,748,334
Year ended 31 January 2025:
Profit and total comprehensive income
-
-
555,808
555,808
Dividends
9
-
-
(449,438)
(449,438)
Balance at 31 January 2025
50,000
3,712,827
2,091,877
5,854,704
PATHFINDERS-CARE (OLLERTON) LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 JANUARY 2025
- 21 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
29
1,244,767
671,771
Interest paid
(247,207)
(323,923)
Income taxes paid
(84,983)
(38,499)
Net cash inflow from operating activities
912,577
309,349
Investing activities
Purchase of tangible fixed assets
(37,616)
(81,355)
Proceeds from disposal of tangible fixed assets
2,530
-
Interest received
1,564
1,776
Net cash used in investing activities
(33,522)
(79,579)
Financing activities
Repayment of bank loans
(195,000)
(260,000)
Net amounts (drawn)/repaid by directors
192,802
4,323
Dividends paid to equity shareholders
(449,438)
(262,788)
Net cash used in financing activities
(451,636)
(518,465)
Net increase/(decrease) in cash and cash equivalents
427,419
(288,695)
Cash and cash equivalents at beginning of year
(19,622)
269,073
Cash and cash equivalents at end of year
407,797
(19,622)
Relating to:
Cash at bank and in hand
407,797
21,946
Bank overdrafts included in creditors payable within one year
-
(41,568)
PATHFINDERS-CARE (OLLERTON) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
- 22 -
1
Accounting policies
Company information

Pathfinders-Care (Ollerton) Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is Cabourn House, Station Street, Bingham, Nottinghamshire, United Kingdom, NG13 8AQ.

 

The group consists of Pathfinders-Care (Ollerton) Limited and all of its subsidiaries.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of 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 rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
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.

1.3
Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company Pathfinders-Care (Ollerton) Limited together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.

 

All financial statements are made up to 31 January 2025. 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.

Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.

PATHFINDERS-CARE (OLLERTON) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 23 -
1.4
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

 

At the balance sheet date, the company had a loan facility that was due to expire within 12 months. Consequently the legal form is such that the balances are recognised as falling due within one year, creating a net current liability position. The banking facility was renewed in March 2025 as disclosed in note 26. As a result of this renewal, the directors conclude that there is no material concern over the use of the going concern basis.

1.5
Turnover

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

Turnover on care services provided is recognised at the agreed rates for each individual patient for the days that these services are provided. Consideration is made therefore at the period end for services either not yet invoiced or invoiced in advance, with adjustments made to accrued and deferred income respectively.

1.6
Tangible fixed assets

Tangible fixed assets 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 land and buildings
Fair value - see below
Plant and equipment
33% on cost, 25% on cost and 10% on cost
Fixtures and fittings
20% on cost and 10% on cost

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.

An apportionment between the land and the property included within freehold property is not available and as such the freehold property is deemed to have a residual value equal to its fair value and is therefore not depreciated. This would be the case regardless for the freehold land element, which would be deemed to have an unlimited useful life and therefore not depreciated.

 

Revaluations are made periodically ensuring the carrying amount does not differ materially from the fair value. Revaluation gains and losses are charged to other comprehensive income and accumulated in the revaluation reserve in equity. Revaluation losses are charged to other comprehensive income only to the extent that they reverse any previous gains in the revaluation reserve. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess is recognised in profit and loss. If the revaluation has resulted in the carrying value increasing, this is recognised in other comprehensive income and accumulated in equity. However the increase is recognised in profit and loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit and loss.

PATHFINDERS-CARE (OLLERTON) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 24 -
1.7
Fixed asset 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.

1.8
Stocks

Stocks and work in progress are stated at the lower of cost and estimated selling price less costs to complete and sell.

 

Cost is calculated using the first-in, first-out method and comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

 

1.9
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.

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, 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.

PATHFINDERS-CARE (OLLERTON) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 25 -
1.10
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.

1.11
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 with in 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.

1.12
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 company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14
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.

PATHFINDERS-CARE (OLLERTON) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 26 -
1.15
Government grants

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
Turnover and other revenue
2025
2024
£
£
Turnover analysed by class of business
Care services
9,283,832
8,549,942
2025
2024
£
£
Other revenue
Interest income
1,564
1,776
Grants received
1,500
1,000
Sundry receipts
47,674
36,776
3
Operating profit
2025
2024
£
£
Operating profit for the year is stated after charging/(crediting):
Government grants
(1,500)
(1,000)
Fees payable to the group's auditor for the audit of the group's financial statements
19,200
19,090
Depreciation of owned tangible fixed assets
53,925
60,635
Profit on disposal of tangible fixed assets
(101)
-
Operating lease charges
37,244
55,785
PATHFINDERS-CARE (OLLERTON) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 27 -
4
Employees

The average monthly number of persons (including directors) employed by the group and company during the year was:

Group
Company
2025
2024
2025
2024
Number
Number
Number
Number
Professionally Qualified / Registered
48
38
48
38
Staff at Diploma Level 4 and 5
11
8
11
8
Staff at Diploma Level 2 and 3
37
44
37
44
Staff below level 2
168
168
168
168
Total
264
258
264
258

Their aggregate remuneration comprised:

Group
Company
2025
2024
2025
2024
£
£
£
£
Wages and salaries
6,410,622
5,957,286
6,410,622
5,957,286
Social security costs
555,862
509,611
555,862
509,611
Pension costs
126,303
118,010
126,303
118,010
7,092,787
6,584,907
7,092,787
6,584,907
5
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
13,046
12,381
Company pension contributions to defined contribution schemes
12,000
12,000
25,046
24,381

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 1 (2024 - 1).

6
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
1,519
1,506
Other interest income
45
270
Total income
1,564
1,776
PATHFINDERS-CARE (OLLERTON) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
6
Interest receivable and similar income
(Continued)
- 28 -
2025
2024
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
1,519
1,506
7
Interest payable and similar expenses
2025
2024
£
£
Interest on financial liabilities measured at amortised cost:
Interest on bank overdrafts and loans
309,794
323,923
8
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
177,616
84,983
Adjustments in respect of prior periods
-
0
1,040
Total current tax
177,616
86,023

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
732,224
420,954
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
183,056
105,239
Tax effect of expenses that are not deductible in determining taxable profit
1,366
1,426
Adjustments in respect of prior years
-
0
1,040
Effect of change in corporation tax rate
-
(3,431)
Permanent capital allowances in excess of depreciation
(6,806)
(18,251)
Taxation charge
177,616
86,023
PATHFINDERS-CARE (OLLERTON) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 29 -
9
Dividends
2025
2024
2025
2024
Recognised as distributions to equity holders:
Per share
Per share
Total
Total
£
£
£
£
Ordinary A
Interim paid
2.40
2.40
42,000
42,000
Ordinary B
Interim paid
21.96
9.52
329,438
142,788
Ordinary C
Interim paid
5.20
5.20
78,000
78,000
Total dividends
Interim dividends paid
449,438
262,788
10
Tangible fixed assets
Group
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Total
£
£
£
£
Cost or valuation
At 1 February 2024
10,001,159
664,976
479,381
11,145,516
Additions
-
0
-
0
37,616
37,616
Disposals
-
0
-
0
(2,429)
(2,429)
At 31 January 2025
10,001,159
664,976
514,568
11,180,703
Depreciation and impairment
At 1 February 2024
-
0
561,011
317,384
878,395
Depreciation charged in the year
-
0
19,587
34,338
53,925
At 31 January 2025
-
0
580,598
351,722
932,320
Carrying amount
At 31 January 2025
10,001,159
84,378
162,846
10,248,383
At 31 January 2024
10,001,159
103,965
161,997
10,267,121
PATHFINDERS-CARE (OLLERTON) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
10
Tangible fixed assets
(Continued)
- 30 -
Company
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Total
£
£
£
£
Cost or valuation
At 1 February 2024
10,001,159
664,976
479,381
11,145,516
Additions
-
0
-
0
37,616
37,616
Disposals
-
0
-
0
(2,429)
(2,429)
At 31 January 2025
10,001,159
664,976
514,568
11,180,703
Depreciation and impairment
At 1 February 2024
-
0
561,011
317,384
878,395
Depreciation charged in the year
-
0
19,587
34,338
53,925
At 31 January 2025
-
0
580,598
351,722
932,320
Carrying amount
At 31 January 2025
10,001,159
84,378
162,846
10,248,383
At 31 January 2024
10,001,159
103,965
161,997
10,267,121

Freehold land and buildings with a carrying amount of £10,001,159 were revalued at 4 March 2024 by Avison Young (UK) Limited, independent valuers not connected with the company on the basis of market value.

The revaluation surplus is disclosed in note 22.

The following assets are carried at valuation. If the assets were measured using the cost model, the carrying amounts would be as follows:

Freehold land and buildings
2025
2024
£
£
Group
Cost
5,478,892
5,478,892
Company
Cost
5,478,892
5,478,892
Carrying value
5,478,892
5,478,892
11
Fixed asset investments
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Investments in subsidiaries
12
-
0
-
0
1
1
PATHFINDERS-CARE (OLLERTON) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
11
Fixed asset investments
(Continued)
- 31 -
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 February 2024 and 31 January 2025
1
Carrying amount
At 31 January 2025
1
At 31 January 2024
1
12
Subsidiaries

Details of the company's subsidiaries at 31 January 2025 are as follows:

Name of undertaking
Registered office
Nature of business
Class of
% Held
shares held
Direct
Bikow Developments Limited
United Kingdom
Property development
Ordinary
100.00
The aggregate capital and reserves and the result for the year of the subsidiaries noted above was as follows:
Name of undertaking
Capital and Reserves
Profit/(Loss)
£
£
Bikow Developments Limited
(15,223)
0
(1,200)
0

The subsidiary Bikow Developments Limited (registered number 05931604) has claimed audit exemption for the year ended 31st January 2025 under section 479A of the Companies Act 2006.

13
Financial instruments

Financial assets measured at amortised cost comprise all current assets excluding stocks.

 

Financial liabilities measured at amortised cost comprise all creditors due in less than and in more than one year.

14
Stocks
Group
Company
2025
2024
2025
2024
£
£
£
£
General consumables
6,102
13,302
6,102
13,302
Work in progress
350,161
350,161
-
-
356,263
363,463
6,102
13,302
PATHFINDERS-CARE (OLLERTON) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 32 -
15
Debtors
Group
Company
2025
2024
2025
2024
Amounts falling due within one year:
£
£
£
£
Trade debtors
242,129
239,317
242,129
239,317
Corporation tax recoverable
51,738
51,738
51,738
51,738
Amounts owed by group undertakings
-
-
322,958
321,758
Other debtors
39
151,529
39
151,529
Prepayments and accrued income
109,672
95,094
109,672
95,094
403,578
537,678
726,536
859,436
16
Creditors: amounts falling due within one year
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Bank loans and overdrafts
18
3,442,587
3,616,568
3,442,587
3,616,568
Trade creditors
60,276
87,378
60,276
87,378
Corporation tax payable
177,616
84,983
177,616
84,983
Other taxation and social security
138,790
128,517
138,790
128,517
Other creditors
549,642
496,741
528,111
475,210
Accruals and deferred income
374,695
208,776
373,795
207,876
4,743,606
4,622,963
4,721,175
4,600,532
17
Creditors: amounts falling due after more than one year
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Other borrowings
18
20,000
20,000
-
0
-
0
18
Loans and overdrafts
Group
Company
2025
2024
2025
2024
£
£
£
£
Bank loans
3,442,587
3,575,000
3,442,587
3,575,000
Bank overdrafts
-
0
41,568
-
0
41,568
Other loans
20,000
20,000
-
0
-
0
3,462,587
3,636,568
3,442,587
3,616,568
Payable within one year
3,442,587
3,616,568
3,442,587
3,616,568
Payable after one year
20,000
20,000
-
0
-
0
PATHFINDERS-CARE (OLLERTON) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
18
Loans and overdrafts
(Continued)
- 33 -

The bank loans are secured by debentures over all assets of the company. There is also a cross-company guarantee between Pathfinders-Care (Ollerton) Limited and Bikow Developments Limited (wholly owned subsidiary of Pathfinders-Care (Ollterton) Limited).

During the year there were breaches in the covenants of the bank financing provided by Santander UK plc. The carrying amount of the related financing is the amount disclosed above as secured debts. Following the year end, the banking facility has been renewed and covenants have been revised. There have been no breaches to these revised covenants.

19
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:

Liabilities
Liabilities
2025
2024
Group
£
£
Revaluations
812,935
812,935
Liabilities
Liabilities
2025
2024
Company
£
£
Revaluations
812,935
812,935
There were no deferred tax movements in the year.
20
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
126,303
118,010

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.

PATHFINDERS-CARE (OLLERTON) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 34 -
21
Share capital
Group and company
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
17,500
17,500
17,500
17,500
Ordinary B of £1 each
15,000
15,000
15,000
15,000
Ordinary C of £1 each
15,000
15,000
15,000
15,000
Ordinary D of £1 each
2,500
2,500
2,500
2,500
50,000
50,000
50,000
50,000
22
Revaluation reserve
Group
Company
2025
2024
2025
2024
£
£
£
£
At the beginning and end of the year
3,712,827
3,712,827
3,712,827
3,712,827

This reserve represents the cumulative revaluation gains and losses on revaluation of land and buildings held as tangible assets.

23
Profit and loss reserves
Group
Company
2025
2024
2025
2024
£
£
£
£
At the beginning of the year
1,971,483
1,899,340
1,985,507
1,912,070
Profit for the year
554,608
334,931
555,808
336,225
Dividends
(449,438)
(262,788)
(449,438)
(262,788)
At the end of the year
2,076,653
1,971,483
2,091,877
1,985,507
24
Operating lease commitments
Lessee

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:

Group
Company
2025
2024
2025
2024
£
£
£
£
Within one year
29,789
29,789
29,789
29,789
Between two and five years
33,495
63,284
33,495
63,284
63,284
93,073
63,284
93,073
PATHFINDERS-CARE (OLLERTON) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 35 -
25
Events after the reporting date

The bank renewed the company's banking facilities on 11 March 2025. As a result the outstanding bank loan of £3,442,587, included within creditors due less than one year, is repayable on 11 September 2026. Interest is payable on this loan at a rate of 3.85% above base.

 

On 28 May 2025, the company disposed of its entire shareholding in Bikow Developments Limited. The disposal resulted in the subsidiary ceasing to be part of the group from that date.

26
Related party transactions
Remuneration of key management personnel

The remuneration of key management personnel is as follows.

2025
2024
£
£
Aggregate compensation
102,092
98,912
Transactions with related parties

During the year the group entered into the following transactions with related parties:

Salary payments
2025
2024
£
£
Group
Shareholders
7,500
7,500
Other related parties
12,000
12,000

The following amounts were outstanding at the reporting end date:

Amounts due to related parties
2025
2024
£
£
Group
Shareholders
9,118
27,430
Other related parties
45,695
18,395
PATHFINDERS-CARE (OLLERTON) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 36 -
27
Directors' transactions

Dividends totalling £449,438 (2024 - £262,788) were paid in the year in respect of shares held by the company's directors.

Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Dr A J Nall -
-
151,490
137,125
(329,438)
(40,823)
151,490
137,125
(329,438)
(40,823)

Another director was owed a total of £15,127 (2024: £14,637).

 

A director of the subsidiary company was owed a total of £41,531 (2024: £41,531) of which £20,000 (2024: £20,000) is due in over one year. There were no advances or repayments in either this year or the previous.

 

The balances above are unsecured, interest free and repayable on demand.

28
Controlling party

The controlling party is S Paterson.

 

The ultimate controlling party is S Paterson.

29
Cash generated from group operations
2025
2024
£
£
Profit after taxation
554,608
334,932
Adjustments for:
Taxation charged
177,616
86,023
Finance costs
309,794
323,923
Investment income
(1,564)
(1,776)
Non-operating income treated as financing activity
(41,312)
(14,637)
Gain on disposal of tangible fixed assets
(101)
-
Depreciation and impairment of tangible fixed assets
53,925
60,635
Movements in working capital:
Decrease/(increase) in stocks
7,200
(1,308)
Increase in debtors
(17,390)
(134,741)
Increase in creditors
201,991
18,720
Cash generated from operations
1,244,767
671,771
PATHFINDERS-CARE (OLLERTON) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 37 -
30
Cash generated from operations - company
2025
2024
£
£
Profit after taxation
555,808
336,226
Adjustments for:
Taxation charged
177,616
86,023
Finance costs
309,794
323,923
Investment income
(1,564)
(1,776)
Non-operating income treated as financing activity
(41,312)
(14,637)
Gain on disposal of tangible fixed assets
(101)
-
Depreciation and impairment of tangible fixed assets
53,925
60,635
Movements in working capital:
Decrease/(increase) in stocks
7,200
(1,308)
Increase in debtors
(18,590)
(136,035)
Increase in creditors
201,991
18,720
Cash generated from operations
1,244,767
671,771
31
Analysis of changes in net debt - group
1 February 2024
Cash flows
Market value movements
31 January 2025
£
£
£
£
Cash at bank and in hand
21,946
385,851
-
407,797
Bank overdrafts
(41,568)
41,568
-
-
0
(19,622)
427,419
-
407,797
Borrowings excluding overdrafts
(3,595,000)
69,826
62,587
(3,462,587)
(3,614,622)
497,245
62,587
(3,054,790)
32
Analysis of changes in net debt - company
1 February 2024
Cash flows
Market value movements
31 January 2025
£
£
£
£
Cash at bank and in hand
21,941
385,851
-
407,792
Bank overdrafts
(41,568)
41,568
-
-
0
(19,627)
427,419
-
407,792
Borrowings excluding overdrafts
(3,575,000)
69,826
62,587
(3,442,587)
(3,594,627)
497,245
62,587
(3,034,795)
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