Abbeyside Nursing Home Limited Company accounts

COMPANY REGISTRATION NUMBER: SC098774

Abbeyside Nursing Home Limited

Financial Statements

31 March 2025

Abbeyside Nursing Home Limited

Financial Statements

Year ended 31 March 2025

Contents	Pages

Officers and professional advisers	1

Strategic report	2 to 4

Directors' report	5 to 6

Directors' responsibilities statement	7

Independent auditor's report to the member	8 to 11

Statement of comprehensive income	12

Statement of financial position	13

Statement of changes in equity	14

Notes to the financial statements	15 to 25

Abbeyside Nursing Home Limited

Officers and Professional Advisers

The board of directors	Mrs S M G Yeats
	Mrs K J Yeats
	Mr B J Yeats
	Mr B M Yeats
	Mrs S Yeats

Company secretary	Mr I G Yeats

Registered office	16 Duff Avenue
	Elgin
	Moray
	IV30 1QS

Auditor	Ritsons
	Chartered Accountants & Statutory Auditor
	103 High Street
	ELGIN
	Moray
	IV30 1EB

Abbeyside Nursing Home Limited

Strategic Report

Year ended 31 March 2025

The directors of the company present their Strategic Report for the year ended 31 March 2025. The Strategic Report is a statutory requirement under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 and is intended to provide fair and balanced information that enables the Directors to be satisfied that they have complied with s172 of the Companies Act 2006 which sets out the Directors' duty to promote the success of the company.

Principal activity

The principal activity of the company during the year was that of nursing home operators and care service providers .

Strategic review

A summary of the results are as follows:

	2025	2024
	£	£
Turnover	7,318,057	7,028,463
Operating Profit	1,467,316	1,226,707
Profit before Tax	1,271,360	1,006,683
Profit after Tax	950,942	753,257
Shareholders' Funds	8,161,411	7,210,469

The directors are delighted and satisfied with the continued and improved profit in each of the last three financial years. Post year end, indications to date are that this trend will continue based on results for the first quarter. The cash reserves are remaining healthy, and the agency cost has dramatically reduced with good staff retention and the overseas recruitment programme paying off. We are confident that the national insurance increase will be overcome in the coming year and will not impact our improving profit margins. We are committed to replacing all work vans to electric this coming financial year and will now be looking at our carbon footprint and environmental impact going forward. On that note, we have now phased in over the year our new energy contracts which have obviously increased but not impacted on the year's performance.

Principal risks and uncertainties

Abbeyside Nursing Home Limited , like all businesses, faces a number of operating risks and uncertainties. There are a number of risks that could impact on the company's long term performance and steps are taken to understand and evaluate these in order to achieve the company's objective of creating long term sustainable returns. The most fundamental risks faced by the company are: (a) if the company fails to comply with regulations, regulatory action could include, among other penalties, the revocation of a care home's licence to operate; (b) the company could suffer severe negative publicity if a serious incident were to occur at one of the company's care homes; (c) if budgeted occupancy levels are not achieved then profit will be reduced; (d) if average weekly fees do not, at least, rise in line with costs then profit margins will be reduced; (e) if the company fails to attract and retain nursing and other qualified staff, it may be unable to provide residents with quality nursing care and may have to reduce the number of beds in its care homes. (f) if the company fails to obtain finance, both short term and long term in nature, sufficient to allow it to meet its daily cash flow requirements and to fund the fixed assets it uses in its business.

Key performance indicators

In reviewing the performance of the company and to assist in strategic decision-making, the directors review periodic management accounts and information which include: Gross Profitability: this has decreased by 0.29%. Occupancy: the directors continually monitor occupancy levels at all of the homes as well as the mix of residents between residential care and nursing care. Financial Instruments such as trade debtors and trade creditors are managed so as to maximise the cash flow of the company, and measurement of debtor and creditor days monitored for the same purpose.

Financial risk management objectives and policies

The company holds or issues financial instruments in order to achieve three main objectives, being: - to finance its operations; - to manage its exposure to risks arising from its operations and from its sources of finance; and - for trading purposes.

This report was approved by the board of directors on 5 September 2025 and signed on behalf of the board by:

Mrs K J Yeats

Director

Registered office:

16 Duff Avenue

Elgin

Moray

IV30 1QS

Abbeyside Nursing Home Limited

Directors' Report

Year ended 31 March 2025

The directors present their report and the financial statements of the company for the year ended 31 March 2025 .

Directors

The directors who served the company during the year were as follows:

Mrs S M G Yeats
Mrs K J Yeats
Mr B J Yeats
Mr B M Yeats
Mrs S Yeats

Dividends

The directors do not recommend the payment of a dividend.

Disclosure of information in the strategic report

The Strategic Report contains details of the principal activity of the company and an overview which provides detailed information on the company's business during the year.

Auditor

Each of the persons who is a director at the date of approval of this report confirms that:

- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.

This report was approved by the board of directors on 5 September 2025 and signed on behalf of the board by:

Mrs K J Yeats

Director

Registered office:

16 Duff Avenue

Elgin

Moray

IV30 1QS

Abbeyside Nursing Home Limited

Directors' Responsibilities Statement

Year ended 31 March 2025

The directors are responsible for preparing the strategic report, directors' report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: - select suitable accounting policies and then apply them consistently; - make judgments and accounting estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Abbeyside Nursing Home Limited

Independent Auditor's Report to the Member of Abbeyside Nursing Home Limited

Year ended 31 March 2025

Opinion

We have audited the financial statements of Abbeyside Nursing Home Limited (the 'company') for the year ended 31 March 2025 which comprise the statement of comprehensive income, statement of financial position, statement of changes in equity 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, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - 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 company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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

Other information

The 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. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

- the information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report. We have nothing to report in respect of the following matters 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, or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of directors' remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the 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 company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: As part of the audit planning process, the engagement principal and the engagement team discussed the legal and regulatory frameworks that are applicable to the company. The laws and regulations which have a direct impact on the financial statements are those that relate to regulations governing the preparation of the financial statements, being FRS 102 and Companies Act 2006, as well as UK tax laws. Other laws and regulations which would have an indirect impact, but potentially significant effect on on the operations of the company are health and safety and employment laws, as well as national care standards for care homes. The engagement principal and the engagement team discussed non-compliance with laws and regulations at the audit team planning meeting. The engagement principal made enquiries of management regarding their assessment of the likelihood of fraud or error or non-compliance with laws and regulations which could lead to material misstatements in the financial statements. The engagement principal was satisfied that the engagement team had the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations during the audit. The engagement team reviewed records to identify any legal and regulatory correspondence. The engagement team did not identify any key audit matters relating to irregularities, including fraud. Part of the engagement team's assessment of non-compliance with laws and regulations included a review of the risk of management override of controls. This was carried out by reviewing journals posted to the financial records, reviewing accounting estimates and significant transactions that are outside the normal course of business, to identify any material misstatements which may be due to fraud. The audit team also considered whether there could be irregularities, including fraud, related to revenue recognition. This was carried out by reviewing the revenue recognition policies, testing of material revenue streams and testing cut off at the year end date. The disclosures in the financial statements were reviewed and tested to supporting documentation to assess compliance with applicable laws and regulations. A Disclosure Check was carried out to confirm that the financial statements comply with current accounting requirements. As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. - Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Use of our report

This report is made solely to the company's member, 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 member 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 member as a body, for our audit work, for this report, or for the opinions we have formed.

Alison Fionda

(Senior Statutory Auditor)

For and on behalf of

Ritsons

Chartered Accountants & Statutory Auditor

103 High Street

ELGIN

Moray

IV30 1EB

5 September 2025

Abbeyside Nursing Home Limited

Statement of Comprehensive Income

Year ended 31 March 2025

		2025	2024
Note		£	£
Turnover	4	7,318,057	7,028,463

Cost of sales	( 4,346,711)	( 4,154,550)
	------------	------------
Gross profit	2,971,346	2,873,913

Administrative expenses		( 1,546,415)	( 1,706,640)
Other operating income	5	42,385	59,434
		------------	------------
Operating profit	6	1,467,316	1,226,707

Interest receivable	10	13,276	117
Interest payable	11	( 209,232)	( 220,141)
		------------	------------
Profit before taxation		1,271,360	1,006,683

Taxation on ordinary activities	12	( 320,418)	( 253,426)
		------------	------------
Profit for the financial year		950,942	753,257
		------------	------------

Tax relating to components of other comprehensive income	–	21,020
	---------	---------
Total comprehensive income for the year	950,942	774,277
	---------	---------

All the activities of the company are from continuing operations.

Abbeyside Nursing Home Limited

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	13	11,711,494	11,780,324
Investments	14	1,000	1,000
		-------------	-------------
		11,712,494	11,781,324

Current assets

Stocks	15	28,250	7,500
Debtors	16	687,142	660,438
Cash at bank and in hand		1,778,612	1,092,468
		------------	------------
		2,494,004	1,760,406

Creditors: amounts falling due within one year	17	( 1,226,716)		( 1,161,744)
		------------		------------
Net current assets			1,267,288	598,662
			-------------	-------------
Total assets less current liabilities			12,979,782	12,379,986

Creditors: amounts falling due after more than one year	18		( 3,522,778)	( 3,865,810)

Provisions	19	( 1,295,593)	( 1,303,707)
		-------------	-------------
Net assets		8,161,411	7,210,469
		-------------	-------------

Capital and reserves

Called up share capital	24	53,000	53,000
Revaluation reserve	25	3,506,528	3,506,528
Other reserves, including the fair value reserve	25	149,334	149,334
Profit and loss account	25	4,452,549	3,501,607
		------------	------------
Shareholder funds		8,161,411	7,210,469
		------------	------------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the medium companies regime.

These financial statements were approved by the board of directors and authorised for issue on 5 September 2025 , and are signed on behalf of the board by:

Mrs K J Yeats

Director

Company registration number: SC098774

Abbeyside Nursing Home Limited

Statement of Changes in Equity

Year ended 31 March 2025

			Called up share capital	Revaluation reserve	Other reserves, including the fair value reserve	Profit and loss account	Total
			£	£	£	£	£
At 1 April 2023			53,000	3,485,508	149,334	2,748,350	6,436,192

Profit for the year						753,257	753,257
Other comprehensive income for the year:
	Tax relating to components of other comprehensive income	12	–	21,020	–	–	21,020
			--------	------------	---------	------------	------------
Total comprehensive income for the year			–	21,020	–	753,257	774,277

At 31 March 2024			53,000	3,506,528	149,334	3,501,607	7,210,469

Profit for the year						950,942	950,942
			--------	------------	---------	------------	------------
Total comprehensive income for the year			–	–	–	950,942	950,942

			--------	------------	---------	------------	------------
At 31 March 2025			53,000	3,506,528	149,334	4,452,549	8,161,411
			--------	------------	---------	------------	------------

Abbeyside Nursing Home Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is 16 Duff Avenue, Elgin, Morayshire, IV30 1QS. The company is a wholly owned subsidiary of Abbeyside Care Group Limited, which prepares consolidated financial statements in which the company is included.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and 'Companies Act 2006'.

3. Accounting policies

Basis of preparation

These financial statements are prepared on a going concern basis, under the historical cost convention, as modified by the revaluation of lands and buildings and certain financial assets and liabilities measured at fair value through profit or loss. The financial statements have been prepared in accordance with United Kingdom Generally Accepted Accounting Practices. The company's functional and presentation currency is the pound sterling.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of Abbeyside Care Group Limited which can be obtained from 16 Duff Avenue, Elgin. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company. (b) No disclosure has been given for the aggregate remuneration of key management personnel.

Consolidation

The entity has taken advantage of the exemption from preparing consolidated financial statements contained in Section 401 of the Companies Act 2006 on the basis that it is a subsidiary undertaking and its immediate parent undertaking is not established under the law of an EEA State.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: Useful economic lives of tangible assets The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 14 for the carrying amount of the property, plant and equipment, and note 3 for the depreciation accounting policy for the useful economic lives for each class of assets.

Turnover

The turnover shown in the profit and loss account represents amounts invoiced or otherwise accrued in respect of care services provided in the period under review. Revenue from the rendering of services is recognised to the extent that it is probable that the economic benefits will flow to the entity and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

All fixed assets are initially recorded at cost. The company has established a policy of revaluation of property.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures, Fittings & Equipment	-	15% Reducing Balance & 25% Straight Line
Motor Vehicles	-	25% reducing balance
Computer Equipment	-	33% straight line

No depreciation has been charged on freehold property. The directors consider that the residual value of freehold property is at least equal to its net book value, its estimated remaining useful life exceeds 50 years, and any depreciation would therefore be immaterial. In addition, the company employs the policy and practice of regular maintenance and repairs (charges for which are recognised in the profit and loss account) such that the property is kept to its previously assessed standards of of performance.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Basic financial liabilities, including trade and other payables, bank loans and preference shares that are classified as debt, are initially recognised at transaction price. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Preference shares, which result in fixed returns to the holder or are mandatorily redeemable on a specific date, are classified as liabilities. The dividends on these preference shares are recognised in the profit and loss account as interest expense.

Defined contribution plans

The company operates defined contribution pension schemes for its employees and one of the directors. The assets of the schemes are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

4. Turnover

Turnover arises from:

	2025	2024
	£	£
Rendering of services	7,318,057	7,028,463
	------------	------------

The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.

5. Other operating income

	2025	2024
	£	£
Government grant income	–	14,762
Other operating income	42,385	44,672
	--------	--------
	42,385	59,434
	--------	--------

6. Operating profit

Operating profit or loss is stated after charging:

	2025	2024
	£	£
Depreciation of tangible assets	48,778	76,489
Loss on disposal of tangible assets	5,878	–
Impairment of trade debtors	–	2,000
	--------	--------

7. Auditor's remuneration

	2025	2024
	£	£
Fees payable for the audit of the financial statements	18,900	18,041
	--------	--------

8. Particulars of employees

The average number of persons employed by the company during the year, including the directors, amounted to:

	2025	2024
	No.	No.
Administrative staff	6	5
Management staff	6	6
Number of care and catering staff	148	147
	----	----
	160	158
	----	----

The aggregate payroll costs incurred during the year, relating to the above, were:

	2025	2024
	£	£
Wages and salaries	3,924,946	3,768,408
Social security costs	329,425	282,030
Other pension costs	105,379	90,143
	------------	------------
	4,359,750	4,140,581
	------------	------------

9. Directors' remuneration

The directors' aggregate remuneration in respect of qualifying services was:

	2025	2024
	£	£
Remuneration	193,037	191,170
	---------	---------

10. Interest receivable

	2025	2024
	£	£
Interest on cash and cash equivalents	13,276	–
Corporation tax interest receivable	–	117
	--------	----
	13,276	117
	--------	----

11. Interest payable

	2025	2024
	£	£
Interest expense on financial liabilities measured at amortised cost	209,232	220,141
	---------	---------

12. Taxation on ordinary activities

Major components of tax expense

	2025	2024
	£	£

Current tax:

UK current tax expense	328,532	241,401

Deferred tax:

Origination and reversal of timing differences	( 8,114)	12,025
	---------	---------
Taxation on ordinary activities	320,418	253,426
	---------	---------

Tax recognised as other comprehensive income or equity

The aggregate current and deferred tax relating to items recognised as other comprehensive income or equity for the year was £Nil (2024: £( 21,020 )).

Reconciliation of tax expense

The tax assessed on the profit on ordinary activities for the year is higher than (2024: higher than) the standard rate of corporation tax in the UK of 25 % (2024: 25 %).

	2025	2024
	£	£
Profit on ordinary activities before taxation	1,271,360	1,006,683
	------------	------------
Profit on ordinary activities by rate of tax	317,840	251,671
Effect of expenses not deductible for tax purposes	2,577	1,754
Effect of capital allowances and depreciation	8,115	( 12,024)
Deferred tax movement	( 8,114)	12,025
	------------	------------
Tax on profit	320,418	253,426
	------------	------------

13. Tangible assets

	Land and buildings	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 April 2024	11,508,765	1,997,395	98,210	93,868	13,698,238
Additions	–	2,871	23,990	1,295	28,156
Disposals	–	–	( 64,277)	–	( 64,277)
	-------------	------------	--------	--------	-------------
At 31 March 2025	11,508,765	2,000,266	57,923	95,163	13,662,117
	-------------	------------	--------	--------	-------------
Depreciation
At 1 April 2024	–	1,792,101	43,055	82,758	1,917,914
Charge for the year	–	35,058	7,734	5,986	48,778
Disposals	–	–	( 16,069)	–	( 16,069)
	-------------	------------	--------	--------	-------------
At 31 March 2025	–	1,827,159	34,720	88,744	1,950,623
	-------------	------------	--------	--------	-------------
Carrying amount
At 31 March 2025	11,508,765	173,107	23,203	6,419	11,711,494
	-------------	------------	--------	--------	-------------
At 31 March 2024	11,508,765	205,294	55,155	11,110	11,780,324
	-------------	------------	--------	--------	-------------

Tangible assets held at valuation

The properties were revalued, in accordance with the current RICS Valuation - Global Standards, incorporating the IVS, and the RICS Valuation - Global Standards 2017 - UK national supplement published by the RICS (the RICS Red Book) on the basis of Market Value as defined in Appendix 2 of the standard, by Jones Lang LaSalle on 13 December 2021. The values attributed at that date were: Abbeyside Nursing Home £1,210,000 (cost £741,149); Abbeyvale Nursing Home £4,340,000 (cost £1,528,332); The Grove Nursing Home £5,680,000 (cost £4,330,970) and Roja £170,000 (cost £209,476). Additions since 13 December 2021 amount to £108,765. The Directors are confident that the market values of the properties obtained at the above date plus the additions to date correctly reflect the values as at 31 March 2025.

In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:

	Freehold property
	£
At 31 March 2025
Aggregate cost	6,918,692
Aggregate depreciation	(67,978)
	------------
Carrying value	6,850,714
	------------

At 31 March 2024
Aggregate cost	6,918,692
Aggregate depreciation	(67,978)
	------------
Carrying value	6,850,714
	------------

14. Investments

	Shares in group undertakings
	£
Cost
At 1 April 2024 and 31 March 2025	1,000
	-------
Impairment
At 1 April 2024 and 31 March 2025	–
	-------

Carrying amount
At 31 March 2025	1,000
	-------
At 31 March 2024	1,000
	-------

Subsidiaries, associates and other investments

	Class of share	Percentage of shares held
Subsidiary undertakings
Abbeyside Management Services Limited SC503207	Ordinary	100

The results and capital and reserves for the year are as follows:

	Capital and reserves		Profit/(loss) for the year
	2025	2024	2025	2024
	£	£	£	£
Subsidiary undertakings
Abbeyside Management Services Limited SC503207	61,240	11,804	49,436	11,803
	--------	--------	--------	--------

The company owns 100% of the issued share capital of the above unlisted company incorporated in the UK.

15. Stocks

	2025	2024
	£	£
Raw materials	28,250	7,500
	--------	-------

16. Debtors

	2025	2024
	£	£
Trade debtors	574,596	549,323
Amounts owed by group undertakings	68,972	33,836
Prepayments and accrued income	27,459	38,230
Directors loan account	121	–
Other debtors	15,994	39,049
	---------	---------
	687,142	660,438
	---------	---------

17. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	343,032	335,561
Trade creditors	226,787	161,283
Amounts owed to group undertakings	85,290	36,500
Accruals and deferred income	87,700	156,164
Corporation tax	207,357	240,926
Social security and other taxes	81,852	68,363
Other creditors	194,698	162,947
	------------	------------
	1,226,716	1,161,744
	------------	------------

The company took out a bank term loan in November 2014 over a period of 20 years. The term loan interest rate on this loan has been set at base rate plus a margin of 1.65% per annum. The term loan is secured by Standard Security over the company's buildings and a Bond of Floating charge over the whole assets of the company. The parent company, Abbeyside Care Group Limited, has also provided a Cross Corporate Guarantee regarding the bank term loan.

18. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	3,522,778	3,865,810
	------------	------------

Included within creditors: amounts falling due after more than one year is an amount of £2,072,563 (2024: £2,447,178) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

The company took out a bank term loan in November 2014 over a period of 20 years. The term loan interest rate on this loan has been set at base rate plus a margin of 1.65% per annum. The term loan is secured by Standard Security over the company's buildings and a Bond of Floating charge over the whole assets of the company. The parent company, Abbeyside Care Group Limited, has also provided a Cross Corporate Guarantee regarding the bank term loan.

19. Provisions

	Deferred tax (note 20)
	£
At 1 April 2024	1,303,707
Movement	( 8,114)
	------------
At 31 March 2025	1,295,593
	------------

20. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions (note 19)	1,295,593	1,303,707
	------------	------------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	54,085	62,199
Revaluation of tangible assets	1,241,508	1,241,508
	------------	------------
	1,295,593	1,303,707
	------------	------------

21. Employee benefits

Defined contribution plans

The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 105,379 (2024: £ 90,143 ).

22. Government grants

The amounts recognised in the financial statements for government grants are as follows:

	2025	2024
	£	£

Recognised in other operating income:

Government grants recognised directly in income	–	14,762
	----	--------

23. Financial instruments

The carrying amount for each category of financial instrument is as follows:

	2025	2024
	£	£

Financial liabilities measured at amortised cost

Financial liabilities measured at amortised cost	3,865,810	4,201,371
	------------	------------

24. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	53,000	53,000	53,000	53,000
	--------	--------	--------	--------

25. Reserves

Revaluation reserve - This reserve records the value of asset revaluations and fair value movements on assets recognised in other comprehensive income. Profit and loss account - This reserve records retained earnings and accumulated losses. Other reserves - This amount represents undistributable reserves arising from unrealised gains on group undertakings.

26. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2025
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr B J Yeats	–	121	–	121
Mr B M Yeats	–	–	–	–
	----	----	----	----
	–	121	–	121
	----	----	----	----

	2024
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr B J Yeats	9,047	568	( 9,615)	–
Mr B M Yeats	4,587	–	( 4,587)	–
	--------	----	--------	----
	13,634	568	( 14,202)	–
	--------	----	--------	----

No repayment terms are in place and interest is charged at the official rate on overdrawn balances.

27. Related party transactions

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

	Transaction value		Balance owed by/(owed to)
	2025	2024	2025	2024
	£	£	£	£
Transactions with companies controlled by directors	4,337	110,572	–	( 6,183)
	-------	---------	----	-------

28. Controlling party

The company is a wholly owned subsidiary of Abbeyside Care Group Limited , a company incorporated in the UK. The company results are included in the parent company's consolidated financial statements. The registered office address of the parent company is 16 Duff Avenue, Elgin, Morayshire, IV30 1QS.