Abbeyside Care Group Limited Group accounts (Group and Company)

COMPANY REGISTRATION NUMBER: SC735107

Abbeyside Care Group Limited

Financial Statements

31 March 2025

Abbeyside Care Group Limited

Financial Statements

Year ended 31 March 2025

Contents	Page

Officers and professional advisers	1

Strategic report	2

Directors' report	4

Independent auditor's report to the members	6

Consolidated statement of comprehensive income	10

Consolidated statement of financial position	11

Company statement of financial position	12

Consolidated statement of changes in equity	13

Company statement of changes in equity	14

Consolidated statement of cash flows	15

Notes to the financial statements	16

Abbeyside Care Group Limited

Officers and Professional Advisers

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

Company secretary	Mr I G Yeats

Registered office	16 Duff Avenue
	Elgin
	Morayshire
	IV30 1QS

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

Abbeyside Care Group Limited

Strategic Report

Year ended 31 March 2025

The directors of the company present their Strategic Report for the year ended 31 March 2025.

Principal activity

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

Strategic review

A summary of the group results are as follows:

	2025	2024
	£	£
Turnover	7,384,821	7,046,436
Operating profit	1,757,663	1,549,377
Profit before tax	1,561,731	1,329,353
Profit after tax	1,168,987	996,134
Shareholders' funds	8,246,706	7,232,995

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

The group, like all businesses, faces a number of operating risks and uncertainties. There are a number of risks that could impact on the group's long term performance and steps are taken to understand and evaluate these in order to achieve the group's objective of creating long term sustainable returns. The most fundamental risks faced by the group are: (a) if the group of companies fails to comply with regulations, regulatory action could include, among other penalties, the revocation of a care home's licence to operate; (b) if a serious incident were to occur at one of the group's care homes, this could result in severe negative publicity; (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 group 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 group 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 group and to assist in strategic decision-making, the directors review periodic management accounts and information which include: Gross Profitability: this has increased by 0.1%. 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 group 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

Morayshire

IV30 1QS

Abbeyside Care Group Limited

Directors' Report

Year ended 31 March 2025

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

Directors

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

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

Dividends

Particulars of recommended dividends are detailed in note 13 to the financial statements.

Directors' responsibilities statement

The directors are responsible for preparing the group's Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare group and company 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 the profit or loss of the company and group 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 group's and the company's transactions and disclose with reasonable accuracy at any time the financial position of the group and 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 group and the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 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 group and 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 group and 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

Morayshire

IV30 1QS

Abbeyside Care Group Limited

Independent Auditor's Report to the Members of Abbeyside Care Group Limited

Year ended 31 March 2025

Opinion

We have audited the financial statements of Abbeyside Care Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2025 which comprise the consolidated statement of comprehensive income, consolidated statement of financial position, company statement of financial position, consolidated statement of changes in equity, company statement of changes in equity, consolidated statement of cash flows 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 group's and of the parent company's affairs as at 31 March 2025 and of the group's 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 group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the 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 or the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the 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 group and the parent 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or - the parent company financial statements are not in agreement with the accounting records and returns; or - certain disclosures of 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 group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 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: In identifying and assessing the risks of material misstatement in respect of irregularities, including fraud, the group engagement team obtained an understanding of the legal and regulatory frameworks that are applicable to the group and the parent company. The most significant are those that relate to regulations governing the preparation of the financial statements, being Companies Act 2006 and FRS 102. Other specific laws and regulations which would have a material effect on the group are employment and tax laws and laws and regulations specific to care homes. The engagement principal and the engagement team discussed non-compliance with laws and regulations and 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. We reviewed records to identify any legal and regulatory correspondence, inspected correspondence with regulatory authorities, reviewed board minutes and made enquiries of management. Part of the group engagement team's assessment of non-compliance with laws and regulations included a review of the risk of management override of controls. Audit procedures performed included a review of 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. We did not identify any key audit matters relating to irregularities, including fraud. 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 group's 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 group's or the parent 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 group or the parent 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. - Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion. 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 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.

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 Care Group Limited

Consolidated Statement of Comprehensive Income

Year ended 31 March 2025

		2025	2024
Note		£	£
Turnover	4	7,384,821	7,046,436

Cost of sales	4,346,713	4,154,551
	------------	------------
Gross profit	3,038,108	2,891,885

Administrative expenses		1,322,830	1,401,942
Other operating income	5	42,385	59,434
		------------	------------
Operating profit	6	1,757,663	1,549,377

Other interest receivable and similar income	10	13,300	117
Interest payable and similar expenses	11	209,232	220,141
		------------	------------
Profit before taxation		1,561,731	1,329,353

Tax on profit	12	392,744	333,219
		------------	------------
Profit for the financial year		1,168,987	996,134
		------------	------------

Tax relating to components of other comprehensive income	–	21,020
	------------	------------
Total comprehensive income for the year	1,168,987	1,017,154
	------------	------------

All the activities of the group are from continuing operations.

Abbeyside Care Group Limited

Consolidated Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Intangible assets	14	1,000	1,000
Tangible assets	15	11,711,494	11,780,324
		-------------	-------------
		11,712,494	11,781,324

Current assets

Stocks	17	28,250	7,500
Debtors	18	774,235	714,033
Cash at bank and in hand		1,956,459	1,254,308
		------------	------------
		2,758,944	1,975,841

Creditors: amounts falling due within one year	19	1,406,361	1,354,653
		------------	------------
Net current assets		1,352,583	621,188
		-------------	-------------
Total assets less current liabilities		13,065,077	12,402,512

Creditors: amounts falling due after more than one year	20	3,522,778	3,865,810

Provisions	21	1,295,593	1,303,707
		-------------	-------------
Net assets		8,246,706	7,232,995
		-------------	-------------

Capital and reserves

Called up share capital	26	53,000	53,000
Revaluation reserve	27	3,506,528	3,506,528
Other reserves, including the fair value reserve	27	149,334	149,334
Profit and loss account	27	4,537,844	3,524,133
		------------	------------
Shareholders funds		8,246,706	7,232,995
		------------	------------

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: SC735107

Abbeyside Care Group Limited

Company Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Investments	16	53,000	53,000

Current assets

Debtors	18	19,214	18,527
Cash at bank and in hand		64,437	73,100
		--------	--------
		83,651	91,627

Creditors: amounts falling due within one year	19	59,594	80,905
		--------	--------
Net current assets		24,057	10,722
		--------	--------
Total assets less current liabilities		77,057	63,722
		--------	--------
Net assets		77,057	63,722
		--------	--------

Capital and reserves

Called up share capital	26	53,000	53,000
Profit and loss account	27	24,057	10,722
		--------	--------
Shareholders funds		77,057	63,722
		--------	--------

The profit for the financial year of the parent company was £ 168,611 (2024: £ 231,073 ).

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: SC735107

Abbeyside Care Group Limited

Consolidated 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	2,746,505	6,434,347

Profit for the year						996,134	996,134
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	–	996,134	1,017,154

Dividends paid and payable		13	–	–	–	( 218,506)	( 218,506)
			--------	------------	---------	------------	------------
Total investments by and distributions to owners			–	–	–	( 218,506)	( 218,506)

At 31 March 2024			53,000	3,506,528	149,334	3,524,133	7,232,995

Profit for the year						1,168,987	1,168,987
			--------	------------	---------	------------	------------
Total comprehensive income for the year			–	–	–	1,168,987	1,168,987

Dividends paid and payable		13	–	–	–	( 155,276)	( 155,276)
			----	----	----	---------	---------
Total investments by and distributions to owners			–	–	–	( 155,276)	( 155,276)

			--------	------------	---------	------------	------------
At 31 March 2025			53,000	3,506,528	149,334	4,537,844	8,246,706
			--------	------------	---------	------------	------------

Abbeyside Care Group Limited

Company Statement of Changes in Equity

Year ended 31 March 2025

		Called up share capital	Profit and loss account	Total
		£	£	£
At 1 April 2023		53,000	( 1,845)	51,155

Profit for the year			231,073	231,073
		--------	---------	---------
Total comprehensive income for the year		–	231,073	231,073

Dividends paid and payable	13	–	( 218,506)	( 218,506)
		--------	---------	---------
Total investments by and distributions to owners		–	( 218,506)	( 218,506)

At 31 March 2024		53,000	10,722	63,722

Profit for the year			168,611	168,611
		--------	---------	---------
Total comprehensive income for the year		–	168,611	168,611

Dividends paid and payable	13	–	( 155,276)	( 155,276)
		----	---------	---------
Total investments by and distributions to owners		–	( 155,276)	( 155,276)

		--------	---------	---------
At 31 March 2025		53,000	24,057	77,057
		--------	---------	---------

Abbeyside Care Group Limited

Consolidated Statement of Cash Flows

Year ended 31 March 2025

	2025	2024
	£	£

Cash flows from operating activities

Profit for the financial year	1,168,987	996,134

Adjustments for:
Depreciation of tangible assets	48,778	76,489
Government grant income	–	( 14,762)
Other interest receivable and similar income	( 13,300)	( 117)
Interest payable and similar expenses	209,232	220,141
Loss on disposal of tangible assets	5,878	–
Tax on profit	392,744	333,219
Accrued (income)/expenses	( 69,082)	44,599

Changes in:
Stocks	( 20,750)	–
Trade and other debtors	( 60,202)	( 222,456)
Trade and other creditors	154,365	185,591
	------------	------------
Cash generated from operations	1,816,650	1,618,838

Interest paid	( 209,232)	( 220,141)
Interest received	13,300	117
Tax paid	( 441,904)	( 236,602)
	------------	------------
Net cash from operating activities	1,178,814	1,162,212
	------------	------------

Cash flows from investing activities

Purchase of tangible assets	( 28,156)	( 187,070)
Proceeds from sale of tangible assets	42,330	–
	------------	------------
Net cash from/(used in) investing activities	14,174	( 187,070)
	------------	------------

Cash flows from financing activities

Proceeds from borrowings	( 335,561)	( 328,252)
Government grant income	–	14,762
Dividends paid	( 155,276)	( 218,506)
	------------	------------
Net cash used in financing activities	( 490,837)	( 531,996)
	------------	------------

Net increase in cash and cash equivalents	702,151	443,146
Cash and cash equivalents at beginning of year	1,254,308	811,162
	------------	------------
Cash and cash equivalents at end of year	1,956,459	1,254,308
	------------	------------

Abbeyside Care Group 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.

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'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

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

Disclosure exemptions

The parent company satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following reduced disclosures available under FRS 102:

(a) Disclosures in respect of each class of share capital have not been presented.

(b) No cash flow statement has been presented for the company.

(c) Disclosures in respect of financial instruments have not been presented.

(d) No disclosure has been given for the aggregate remuneration of key management personnel.

Consolidation

The financial statements consolidate the financial statements of the Group and all of its subsidiary undertakings. The parent company has applied the exemption contained in section 408 of the Companies Act 2006 and has not included its individual statement of comprehensive income. Abbeyside Management Services Limited (SC503207) is exempt from the requirements of the Companies Act 2006 relating to the audit of individual financial statements under section 479A.

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 15 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.

Revenue recognition

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.

Income tax

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.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

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.

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	7,384,821	7,046,436
	------------	------------

The whole of the turnover is attributable to the principal activity of the group 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	21,751	22,665
	--------	--------

8. Staff costs

The average number of persons employed by the group 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	3,924,948	3,768,409
Social security costs	329,425	282,030
Other pension costs	( 105,379)	( 90,143)
	------------	------------
	4,359,752	4,140,582
	------------	------------

9. Directors' remuneration

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

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

10. Other interest receivable and similar income

	2025	2024
	£	£
Interest on cash and cash equivalents	13,276	–
Corporation tax interest receivable	24	117
	--------	----
	13,300	117
	--------	----

11. Interest payable and similar expenses

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

12. Tax on profit

Major components of tax expense

	2025	2024
	£	£

Current tax:

UK current tax expense	400,858	321,194

Deferred tax:

Origination and reversal of timing differences	( 8,114)	12,025
	---------	---------
Tax on profit	392,744	333,219
	---------	---------

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	1,561,731	1,329,353
	------------	------------
Profit on ordinary activities by rate of tax	390,433	332,337
Effect of expenses not deductible for tax purposes	2,577	1,754
Effect of capital allowances and depreciation	8,115	( 12,024)
Effect of different UK tax rates on some earnings	(267)	(873)
Deferred tax movement	( 8,114)	12,025
	------------	------------
Tax on profit	392,744	333,219
	------------	------------

13. Dividends

Dividends paid during the year (excluding those for which a liability existed at the end of the prior year):

	2025	2024
	£	£
Equity dividends on ordinary shares	155,276	218,506
	---------	---------

14. Intangible assets

Group	Goodwill
	£
Cost
At 1 April 2024 and 31 March 2025	1,000
	-------
Amortisation
At 1 April 2024 and 31 March 2025	–
	-------
Carrying amount
At 1 April 2024 and 31 March 2025	1,000
	-------
At 31 March 2024	1,000
	-------

The company has no intangible assets.

15. Tangible assets

Group	Freehold property	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
	-------------	------------	--------	--------	-------------

The company has no tangible assets.

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, 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:

Group	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
	------------

16. Investments

The group has no investments.

Company	Shares in group undertakings
	£
Cost
At 1 April 2024 and 31 March 2025	53,000
	--------
Impairment
At 1 April 2024 and 31 March 2025	–
	--------

Carrying amount
At 1 April 2024 and 31 March 2025	53,000
	--------
At 31 March 2024	53,000
	--------

Subsidiaries, associates and other investments

Details of the investments in which the parent company has an interest of 20% or more are as follows:

	Class of share	Percentage of shares held
Subsidiary undertakings
Abbeyside Nursing Home Limited SC098774	Ordinary	100
Abbeyside Management Services Limited SC503207	Ordinary	100

17. Stocks

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Raw materials and consumables	28,250	7,500	–	–
	--------	-------	----	----

18. Debtors

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Trade debtors	730,941	640,441	–	–
Amounts owed by group undertakings	–	–	18,527	18,527
Prepayments and accrued income	27,459	38,230	–	–
Directors loan account	121	–	–	–
Other debtors	15,714	35,362	687	–
	---------	---------	--------	--------
	774,235	714,033	19,214	18,527
	---------	---------	--------	--------

19. Creditors: amounts falling due within one year

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Bank loans and overdrafts	343,032	335,561	–	–
Trade creditors	226,788	161,284	–	–
Accruals and deferred income	92,200	161,282	3,400	3,880
Corporation tax	279,673	320,719	56,194	77,025
Social security and other taxes	269,970	212,860	–	–
Other creditors	194,698	162,947	–	–
	------------	------------	--------	--------
	1,406,361	1,354,653	59,594	80,905
	------------	------------	--------	--------

The subsidiary 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 subsidiary company's buildings and a Bond of Floating charge over the whole assets of the company. The parent company has also provided a Cross Corporate Guarantee regarding the bank term loan.

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

	Group		Company
	2025	2024	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 subsidiary 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 subsidiary company's buildings and a Bond of Floating charge over the whole assets of the company. The parent company has also provided a Cross Corporate Guarantee regarding the bank term loan.

21. Provisions

Group	Deferred tax (note 22)
	£
At 1 April 2024	1,303,707
Movement	( 8,114)
	------------
At 31 March 2025	1,295,593
	------------

The company does not have any provisions.

22. Deferred tax

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

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Included in provisions (note 21)	1,295,593	1,303,707	–	–
	------------	------------	----	----

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

	Group		Company
	2025	2024	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	–	–
	------------	------------	----	----

23. 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 )).

24. Government grants

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

Group		Company
2025	2024	2025	2024
£	£	£	£

Recognised in other operating income:

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

25. Financial instruments

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

Financial liabilities measured at amortised cost

	Group
	2025	2024
	£	£
Financial liabilities measured at amortised cost	3,865,810	4,201,371
	------------	------------

26. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
A Ordinary shares of £ 1 each	2,650	2,650	2,650	2,650
B Ordinary shares of £ 1 each	25,175	25,175	25,175	25,175
C Ordinary shares of £ 1 each	25,175	25,175	25,175	25,175
	--------	--------	--------	--------
	53,000	53,000	53,000	53,000
	--------	--------	--------	--------

27. 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.

28. Analysis of changes in net debt

	At 1 Apr 2024	Cash flows	At 31 Mar 2025
	£	£	£
Cash at bank and in hand	1,254,308	702,151	1,956,459
Debt due within one year	(335,561)	(7,471)	(343,032)
Debt due after one year	(3,865,810)	343,032	(3,522,778)
	------------	------------	------------
	( 2,947,063)	1,037,712	( 1,909,351)
	------------	------------	------------

Abbeyside Care Group Limited

Notes to the Financial Statements (continued)

Year ended 31 March 2025

29. Directors' advances, credits and guarantees

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

	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)	–
	--------	----	--------	----

30. Related party transactions

Group

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

	Transaction value		Balance owed by/(owed to)
	2025	2024	2025	2024
	£	£	£	£
Dividends paid to directors	155,276	218,506	–	–
Transactions with companies controlled by directors	8,674	110,572	–	( 6,183)
	---------	---------	----	-------

Related party transactions with 100% owned group undertakings are excluded from the consolidated financial statements and are therefore exempt from disclosure in the financial statements under the provisions of FRS 102 'Related Party Disclosures'.

Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the company. The total compensation paid to key management personnel for services provided to the group was £ 372,420 (2024: £ 362,713 ).

Company

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

	Transaction value		Balance owed by/(owed to)
	2025	2024	2025	2024
	£	£	£	£
Dividends paid to directors	155,276	218,506	-	-
	---------	---------	----	----