The directors present the strategic report for the period ended 31 December 2024.
Czajka Care Group Ltd was formed in October 2024 to acquire the shares of Redhall Ltd.
The Consolidated Results shown in the Accounts are from the date of acquisition until 31st December 2024.
The 152 beds across 3 Nursing and Residential Care Homes are trading profitably. Higher fees and a continued high occupancy i.e. over 90% should sustain the profitability of the Group.
The refurbishment works to upgrade the Environmental Standards and the CQC ratings of ‘Good’ in the 3 Nursing and Residential Care Homes will assist with the ‘Fit for the Future strategic objectives.
The eight houses and Apartments at Fairmount Park have now been completed. One property was sold in the year to 31 December 2024 and six have been sold post year end, with the final Apartment currently being marketed for sale or rental.
All Bank debt on the New Build properties was fully repaid in January 2025.
The NMW increase of 6.7% commencing April 2025 and the Employer NIC increase from 13.8% to 15% with thresholds decreased from £9,100 to £5,000 would require a minimum 10% increase in fees. The Local Authorities and the ICB (Integrated Care Board) have agreed to increase fees on average by 7.56% thus costs i.e. expenditure will need careful monitoring in 2025.
International Recruitment has been the main driver in filling posts which have led to reduced Agency use as well as the redeployment of staff from the now demolished Fairmount Nursing Home. Domestic Recruitment remains a challenge as workers are attracted to higher paid and less demanding jobs.
The Labour Government talking about a New Deal for care workers and a National Care Service underpinned by National Care Standards is to be welcomed. However, the Employment Rights Bill introducing Employment rights from Day 1 is onerous.
Over recent years the Care Quality Commission (CQC) have faced increased scrutiny over its Inspection and Ratings processes. People depend on CQC ratings to make informed decisions about care options. All Czajka Homes are rated ‘Good’ and these ratings need to be maintained.
The group profit before taxation may be impacted by the aforementioned considerations in 2025.
The company's key financial and other performance indicators during the period were as follows:
| Unit | 2024 |
|
Gross profit | £ | 545,837 |
|
Loss before tax | £ | 166,243 |
|
Shareholders’ funds | £ | 7,214,664 |
|
Czajka Care Group is a family run business established in Saltaire in 1983. We offer quality award-winning care for retired, elderly and disabled people.
We own and operate care homes and nursing homes in Bradford. Brookfield Care Home and Staveley Birkleas Nursing Home, which are in Nab Wood near Shipley, and Currergate Nursing Home in Steeton.
We also have a stunning mix of luxury purpose-built retirement houses and apartments for people aged 55 and over at Currergate Mews in Steeton and Fairmount Park in Nab Wood, near the World Heritage Site of Saltaire. These are available through a variety of rental, full and shared equity options.
Renowned for offering an exceptional standard of service, our experienced, highly-trained, caring team, tailor our care to meet every individual’s needs. Our five nursing and care homes are designed to be a real ‘home from home’ for our residents.
Set within beautiful landscaped gardens with easy access to shops and the local community, family and friends are welcome at all times. Our professional managers oversee all aspects of the running of the homes, ensuring that we provide the highest standards of service every single day.
We know that choosing the right care home is important, so our doors are always open for people to come and look round – it’s the best way to get a real feel for the place. Come and meet our friendly staff and talk to the people who live here for a thorough insight into why so many people choose to make our homes their home.
Our core values that run through all five of our homes are:
Compassion
Adaptability
Respect
Excellence
Safety
On behalf of the board
The directors present their annual report and financial statements for the period ended 31 December 2024.
The company was incorporated on 19 September 2024 and commenced to trade on 29 October 2024.
The results for the period are set out on page 9.
No ordinary dividends were paid. The directors do not recommend payment of a further dividend.
The directors who held office during the period and up to the date of signature of the financial statements were as follows:
Price risk, credit risk, liquidity risk and cash flow risk
The business' principal financial instruments comprise bank balances, bank overdrafts, trade debtors, trade creditors and loans to the business. The main purpose of these instruments is to finance the business' operations.
In respect of bank balances, the liquidity risk is managed by maintaining a balance between the continuity of funding and flexibility through the use of overdrafts at floating rates of interest. All of the business' cash balances are held in such a way that achieves a competitive rate of interest. The business makes use of money market facilities where funds are available.
Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits. The amounts presented in the balance sheet are net of allowances for doubtful debtors.
Trade creditors' liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.
Loans comprise loans from the directors and from financial institutions. The interest rate and monthly repayments on the loans from financial institutions are fixed. The business manages the liquidity risk by ensuring that there are sufficient funds to meet the payments.
Regular meetings are held between senior management and employee representatives to discuss matters of concern. Employees are kept well-informed about the progress and position of the group.
Buckle Barton Limited were appointed as auditor to the group and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at a General Meeting.
The directors are responsible for the maintenance and integrity of the company website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
We have audited the financial statements of Czajka Care Group Ltd (the 'parent company') and its subsidiaries (the 'group') for the period ended 31 December 2024 which comprise the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
Basis for 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 and parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit:
The information given in the strategic report and the directors' report for the financial period 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.
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.
- We obtained an understanding of laws and regulations that affect the group, focusing on those that had a direct effect on the financial statements or that had a fundamental effect on its operations. Key laws and regulations that we identified included the UK Companies Act, tax legislation and employment legislation.
- We enquired of the directors for evidence or knowledge of non compliance with relevant laws and regulations. Where applicable we also reviewed reports published by external regulators and any correspondence with them.
- We gained an understanding of the controls that the directors have in place to prevent and detect fraud. We enquired of the directors about any instances of fraud that had taken place during the accounting period.
- The risk of fraud and non compliance with laws and regulations and fraud was discussed within the audit team and tests were planned and performed to address these risks.
- We enquired of the directors about actual and potential litigation and claims.
- We reviewed, on a sampling basis certain invoices and transactions together with board minutes.
- In addressing the risk of fraud due to management override of internal controls we tested, on a sampling basis, the appropriateness of journal entries and assessed whether the judgements made in making accounting estimates were indicative of a potential bias.
Due to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, as with any audit, there remained a higher risk of non detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing fraud or non compliance with laws and regulations and cannot be expected to detect all fraud and non compliance with laws and regulations.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https//www.frc.org.uk/auditorsresponsibilities. This description forms part of our audit report.
Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
As permitted by s408 Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s loss for the year was £27,914.
Czajka Care Group Ltd (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is Victoria House, 66 - 70 Bingley Road, Saltaire, Shipley, West Yorkshire, BD18 4DJ.
The group consists of Czajka Care Group Ltd and all of its subsidiaries.
The current accounting period represents the period between 19 September 2024 (the date of incorporation) and 31 December 2024.
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
The company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements for parent company information presented within the consolidated financial statements:
Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;
Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;
Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;
Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.
The consolidated group financial statements consist of the financial statements of the parent company Czajka Care Group Ltd together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.
All financial statements are made up to 31 December 2024. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.
All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.
Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.
At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.
Equity investments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.
In the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
At each reporting period end date, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the group's balance sheet when the group becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.
Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.
Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.
Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.
The tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
In the application of the group’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
The average monthly number of persons (including directors) employed by the group and company during the period was:
Their aggregate remuneration comprised:
The actual charge for the period can be reconciled to the expected charge/(credit) for the period based on the profit or loss and the standard rate of tax as follows:
Impairment tests have been carried out where appropriate and the following impairment losses have been recognised in profit or loss:
The impairment losses in respect of financial assets are recognised in other gains and losses in the profit and loss account.
More information on impairment movements in the period is given in note 11.
The carrying value of land and buildings comprises:
A valuation of both freehold properties took place on 9 September 2024 by qualified professionals working for the company Christie & Co, independent valuers not connected with the company on the basis of market value. The valuation conforms to International Valuation Standards and was valued on a market value based upon its existing use and present condition as a fully-equipped operational entity. The valuation was carried out in accordance with the RICS Valuation standards.
As this valuation was not materially greater than the net book value held in the financial statements, the directors have chosen not to adjust the existing values and revaluation reserve.
The Directors consider these valuations to remain current.
The following assets are carried at valuation. If the assets were measured using the cost model, the carrying amounts would be as follows:
Investment property comprises of the land transferred from Tangible Assets and further building costs. The fair value of the land has been arrived at on the basis of a valuation carried out at 9 March 2024 by Align Property Partners, independent valuers not connected with the company, on the basis of market value. The valuation conforms to International Valuation Standards and was valued on a market value based upon its present condition. The valuation was carried out in accordance with the RICS Valuation standards.
Additional building costs have also been incurred for the development of residential properties intended for future sale.
The Directors consider these valuations to remain current.
Details of the company's subsidiaries at 31 December 2024 are as follows:
Amounts due to group companies are interest free and repayable on demand.
Bank loans and overdrafts are secured by a charge held over the freehold land and buildings, together with across guarantee and debenture with Brookfield Care Limited, Czajka Care Limited, Fairmount Limited and Czajka Group Holdings Limited, dated 6 February 2009. A deed of accession was made on 23 October 2024 to add Czajka Care Group Ltd into this charge.
Interest on bank overdrafts is charged at standard bank terms.
Bank loan 1 - Interest is charged at LIBOR plus 2.00%, expiring in February 2025.
Bank loan 2 - Interest is charged at LIBOR plus 2.75%, expiring in February 2025.
Bank loan 3 - Interest is charged at 20.02%, expiring in December 2026.
The debentures loans noted above are secured by a cross guarantee and debenture between Brookfield Care Ltd, Fairmount Ltd, Czajka Properties Limited, Czajka Group Holdings Limited, Czajka Care Group Ltd and Czajka Care Limited, dated 29 October 2024.
The debenture loans are payable between 31 December 2036 and 31 December 2058 in equal monthly instalments. No interest is payable on these amounts.
The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:
The amount of the net reversal of deferred tax expected to occur next year is £7,000, relating to the reversal of existing timing differences on tangible fixed assets.
A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.
Included in other creditors, the amount outstanding at the reporting date was £63,923.
On incorporation 1 Ordinary £1 share was allotted at par to form the capital base of the company.
A further 2,224 Ordinary £1 shares were allotted at a premium on 29 October 2024.
On 29 October 2024 the group acquired 100 percent of the issued capital of Redhall Limited.
The company has given an unlimited multilateral guarantee in respect of the bank borrowings of other group companies. The amount guaranteed is £3,666,545.
Bank loan and overdrafts are secured by a cross guarantee and debenture between Brookfield Care Limited, Fairmount Limited, Czajka Group Holdings Limited, Czajka Properties Limited, Czajka Care Group Ltd and Czajka Care Limited, dated 23 October 2024.
The company is a party to a cross guarantee and debenture between Brookfield Care Ltd, Fairmount Ltd, Czajka Properties Limited, Czajka Group Holdings Limited, Czajka Care Group Ltd and Czajka Care Limited, dated 29 October 2024.
This is in relation to deferred consideration payable by Czajka Care Group Ltd.
The amount guaranteed is £3,862,144.
At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
Amounts contracted for but not provided in the financial statements:
During the period the group entered into the following transactions with related parties:
The following amounts were outstanding at the reporting end date:
At the balance sheet date the amount due to Konrad Czajka (Director) was £3,862,144.
The other non cash movement of £1,083,869 is in respect of loan notes issued on acquisition.