Browgil Limited Group accounts (Group and Company)

COMPANY REGISTRATION NUMBER: SC277895

Browgil Limited

Financial Statements

For the year ended

31 December 2024

Browgil Limited

Financial Statements

Year ended 31 December 2024

Contents	Page

Officers and professional advisers	1

Strategic report	2

Directors' report	4

Independent auditor's report to the member	6

Consolidated statement of income and retained earnings	11

Company statement of income and retained earnings	12

Consolidated statement of financial position	13

Company statement of financial position	14

Consolidated statement of cash flows	15

Notes to the financial statements	16

Browgil Limited

Officers and Professional Advisers

The board of directors	A Taylor
	M Cloonan

Registered office	Rawyards House
	Motherwell Street
	Airdrie
	ML6 7HP

Auditor	Streets Audit LLP
	Chartered accountants & statutory auditor
	Enterprise House
	38 Tyndall Court
	Commerce Road
	Lynch Wood
	Peterborough
	Cambridgeshire
	PE2 6LR

Browgil Limited

Strategic Report

Year ended 31 December 2024

The directors present the strategic report and the financial statements for the year ended 31 December 2024. Business review Browgil Limited is a non trading holding company of R H Independent Healthcare Limited, which owns and operates an 97 bed care home regulated by the Care Inspectorate. The Home's Care Inspectorate rating was Good (4) throughout the period. Revenue increased in the year from £3,363,000 to £3,706,000. As part of the UK government's response to the pandemic, the group received grants totalling £nil (2023 - £5,000), to cover the additional costs incurred in relation to PPE and increased staff costs. This translated into a loss before taxation of £229,000 (2023 - £365,000). Principal risks and uncertainties Management monitors risks on a weekly and monthly basis. The primary concern of the management is the quality of care. There are dedicated regional managers and Operational Directors responsible for supporting the Home in provision of high quality care services. The major financial risk to the company is the increase in its cost base, primarily relating to the Scottish Living Wage. The group is exposed to credit risk with its customers, albeit major customers are public sector, and therefore with limited credit risk. Pricing risk is limited to the risk associated with negotiating annual price increases. Liquidity and cashflow risk could arise in the event of a downturn in trading. However, in this event, sister companies in the group can provide liquidity if required. The group is exposed to finance risk due to its exposure to third party lenders and borrowings in the group. Staffing remains a key risk as there is a nationwide shortage of nurses and care staff. Cost inflation also remains a risk for the business. Financial and other key performance indicators The key financial and operational performance indicators monitored by management include regulatory reviews, internal quality reviews, occupancy ratios, average weekly fees and cost to revenue ratios. Future developments The directors continue to monitor its key performance metrics whilst continually striving to improve care quality.

This report was approved by the board of directors on 8 September 2025 and signed on behalf of the board by:

A Taylor

Director

Registered office:

Rawyards House

Motherwell Street

Airdrie

ML6 7HP

Browgil Limited

Directors' Report

Year ended 31 December 2024

The directors present their report and the financial statements of the group for the year ended 31 December 2024 .

Directors

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

A Taylor
M Cloonan

B Raj has been appointed as director on 01/06/2025.

Dividends

The directors do not recommend the payment of a dividend.

Disclosure of information in the strategic report

The company has chosen to include several items in the strategic report which would otherwise be required to be disclosed in the directors report. These include information on the exposure to financial risk, price risk, credit risk, liquidity risk and cash flow risk and an indication of the likely future developments in the business of the company.

Directors' responsibilities statement

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 group and the company and the profit or loss of the 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 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.

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 8 September 2025 and signed on behalf of the board by:

A Taylor

Director

Registered office:

Rawyards House

Motherwell Street

Airdrie

ML6 7HP

Browgil Limited

Independent Auditor's Report to the Member of Browgil Limited

Year ended 31 December 2024

Opinion

We have audited the financial statements of Browgil Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2024 which comprise the consolidated statement of income and retained earnings, company statement of income and retained earnings, consolidated statement of financial position, company statement of financial position, 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 December 2024 and of the group's loss 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: Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows: - the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; - we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the company and sector in which it operates; - we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006 and taxation legislation, Care Home legislation and health and safety legislation; - we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and - identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: - making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and - considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. To address the risk of fraud through management bias and override of controls, we: - performed analytical procedures to identify any unusual or unexpected relationships; - tested journal entries to identify unusual transactions; - assessed whether judgements and assumptions made in determining the accounting estimates set out in Note 3 were indicative of potential bias; and - investigated the rationale behind significant or unusual transactions. In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: - agreeing financial statement disclosures to underlying supporting documentation; - reading the minutes of meetings of those charged with governance; - inquiring of management as to actual and potential litigation and claims; and - reviewing correspondence with HMRC, relevant regulators and the company's legal advisors. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to inquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. 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 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.

Jonathan Day

(Senior Statutory Auditor)

For and on behalf of

Streets Audit LLP

Chartered accountants & statutory auditor

Enterprise House

38 Tyndall Court

Commerce Road

Lynch Wood

Peterborough

Cambridgeshire

PE2 6LR

9 September 2025

Browgil Limited

Consolidated Statement of Income and Retained Earnings

Year ended 31 December 2024

		2024	2023
Note		£	£
Turnover	4	3,706,163	3,362,761

Cost of sales	2,752,558	2,566,939
	------------	------------
Gross profit	953,605	795,822

Administrative expenses		797,934	800,513
Other operating income	5	25	7,552
		---------	---------
Operating profit	6	155,696	2,861

Other interest receivable and similar income	10	–	5,406
Interest payable and similar expenses	11	384,476	373,198
		---------	---------
Loss before taxation		( 228,780)	( 364,931)

Tax on loss	12	–	–
		---------	---------
Loss for the financial year and total comprehensive income		( 228,780)	( 364,931)
		---------	---------

Retained losses at the start of the year	( 2,222,965)	( 1,858,034)
	------------	------------
Retained losses at the end of the year	( 2,451,745)	( 2,222,965)
	------------	------------

All the activities of the group are from continuing operations.

Browgil Limited

Company Statement of Income and Retained Earnings

Year ended 31 December 2024

	2024	2023
Note	£	£
Loss for the financial year and total comprehensive income	( 234,247)	( 447,590)
Retained losses at the start of the year	( 2,222,950)	( 1,775,360)
	------------	------------
Retained losses at the end of the year	( 2,457,197)	( 2,222,950)
	------------	------------

Browgil Limited

Consolidated Statement of Financial Position

31 December 2024

	2024	2023
Note	£	£

Fixed assets

Tangible assets	13	2,719,956	2,808,460

Current assets

Debtors	15	3,186,384	3,230,260
Cash at bank and in hand		78,595	100,396
		------------	------------
		3,264,979	3,330,656

Creditors: amounts falling due within one year	16	8,435,665	8,361,066
		------------	------------
Net current liabilities		5,170,686	5,030,410
		------------	------------
Total assets less current liabilities		( 2,450,730)	( 2,221,950)
		------------	------------
Net liabilities		( 2,450,730)	( 2,221,950)
		------------	------------

Capital and reserves

Called up share capital	19	1,000	1,000
Other reserves, including the fair value reserve	20	15	15
Profit and loss account	20	( 2,451,745)	( 2,222,965)
		------------	------------
Shareholder deficit		( 2,450,730)	( 2,221,950)
		------------	------------

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 8 September 2025 , and are signed on behalf of the board by:

A Taylor

Director

Company registration number: SC277895

Browgil Limited

Company Statement of Financial Position

31 December 2024

	2024	2023
Note	£	£

Fixed assets

Investments	14	1,834,966	2,069,180

Current assets

Debtors	15	2,146,049	2,146,049
Cash at bank and in hand		62	62
		------------	------------
		2,146,111	2,146,111

Creditors: amounts falling due within one year	16	6,437,274	6,437,241
		------------	------------
Net current liabilities		4,291,163	4,291,130
		------------	------------
Total assets less current liabilities		( 2,456,197)	( 2,221,950)
		------------	------------
Net liabilities		( 2,456,197)	( 2,221,950)
		------------	------------

Capital and reserves

Called up share capital	19	1,000	1,000
Profit and loss account	20	( 2,457,197)	( 2,222,950)
		------------	------------
Shareholder deficit		( 2,456,197)	( 2,221,950)
		------------	------------

The loss for the financial year of the parent company was £ 234,247 (2023: £ 447,590 ).

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 8 September 2025 , and are signed on behalf of the board by:

A Taylor

Director

Company registration number: SC277895

Browgil Limited

Consolidated Statement of Cash Flows

Year ended 31 December 2024

	2024	2023
	£	£

Cash flows from operating activities

Loss for the financial year	( 228,780)	( 364,931)

Adjustments for:
Depreciation of tangible assets	214,988	201,449
Government grant income	–	( 4,756)
Other interest receivable and similar income	–	( 5,406)
Interest payable and similar expenses	384,476	373,198
Gains on disposal of tangible assets	–	( 2,150)
Accrued expenses/(income)	45,318	( 5,701)

Changes in:
Trade and other debtors	43,876	162,169
Trade and other creditors	( 63,259)	36,488
	---------	---------
Cash generated from operations	396,619	390,360

Interest paid	( 384,476)	( 373,198)
Interest received	–	5,406
	---------	---------
Net cash from operating activities	12,143	22,568
	---------	---------

Cash flows from investing activities

Purchase of tangible assets	( 126,484)	( 205,033)
Proceeds from sale of tangible assets	–	19,344
	---------	---------
Net cash used in investing activities	( 126,484)	( 185,689)
	---------	---------

Cash flows from financing activities

Proceeds from borrowings	25,141	38,063
Proceeds from loans from group undertakings	67,399	( 241,615)
Government grant income	–	4,756
Payments of finance lease liabilities	–	( 24,989)
	---------	---------
Net cash from/(used in) financing activities	92,540	( 223,785)
	---------	---------

Net decrease in cash and cash equivalents	( 21,801)	( 386,906)
Cash and cash equivalents at beginning of year	100,396	487,302
	---------	---------
Cash and cash equivalents at end of year	78,595	100,396
	---------	---------

Browgil Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Rawyards House, Motherwell Street, Airdrie, ML6 7HP.

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

Going concern

The group has made a loss during the year and is in a net liability position on year end. It has received group support and accordingly the financial statements have been prepared on a going concern basis. The directors are confident that group has the ability to meet its financial obligations as they fall due for a period of at least 12 months from the date of approval of the financial statements.

Disclosure exemptions

The parent company is not a qualifying entity as defined in FRS102.

Consolidation

The financial statements consolidate the financial statements of Browgil Limited and all of its subsidiary undertakings.

The results of subsidiaries acquired or disposed of during the year are included from or to the date that control passes.

The parent company has applied the exemption contained in section 408 of the Companies Act 2006 and has not presented its individual profit and loss account.

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. In preparing these financial statements, the directors have made the following judgements:- 1 Determine whether there are indicators of impairment of the tangible and intangible assets, including goodwill. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit. Other key sources of estimation uncertainty:- 2 Tangible fixed assets Tangible fixed assets, other than investment properties, are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.

Exceptional items

Exceptional items are disclosed separately in the financial statements in order to provide further understanding of the financial performance of the entity. They are material items of income or expense that have been shown separately because of their nature or amount.

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 material 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

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

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:

Freehold property	-	2% straight line
Fixtures and fittings	-	20% straight line
Motor vehicles	-	20% reducing balance

Investments

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

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

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

The company holds basic financial instruments as defined in FRS102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Turnover

Turnover arises from:

	2024	2023
	£	£
Rendering of services	3,706,163	3,362,761
	------------	------------

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

5. Other operating income

	2024	2023
	£	£
Government grant income	–	4,756
Other operating income	25	2,796
	----	-------
	25	7,552
	----	-------

6. Operating loss

Operating profit or loss is stated after charging/crediting:

	2024	2023
	£	£
Depreciation of tangible assets	214,988	201,449
Gains on disposal of tangible assets	–	( 2,150)
Impairment of trade debtors	11,404	–
	---------	---------

7. Staff costs

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

	2024	2023
	No.	No.
Production staff	90	90
	----	----

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

	2024	2023
	£	£
Wages and salaries	2,308,500	2,145,815
Social security costs	202,024	173,268
Other pension costs	25,306	24,101
	------------	------------
	2,535,830	2,343,184
	------------	------------

8. Directors' remuneration

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

	2024	2023
	£	£
Remuneration	22,170	19,722
	--------	--------

9. Exceptional items

	Group		Company
	2024	2023	2024	2023
	£	£	£	£
EFURBS interest	7,886	9,483	–	–
	-------	-------	----	----

The group has provided for in full a liability arising from a prior period arrangement. The total liability is being reviewed and the final amounts due are yet to be agreed.

10. Other interest receivable and similar income

	2024	2023
	£	£
Interest from group undertakings	–	5,406
	----	-------

11. Interest payable and similar expenses

	2024	2023
	£	£
Interest on banks loans and overdrafts	373,506	363,715
Interest on obligations under finance leases and hire purchase contracts	3,084	–
Other interest payable and similar charges	7,886	9,483
	---------	---------
	384,476	373,198
	---------	---------

12. Tax on loss

Reconciliation of tax income

The tax assessed on the loss on ordinary activities for the year is higher than (2023: higher than) the standard rate of corporation tax in the UK of 75 % (2023: 23.50 %).

	2024	2023
	£	£
Loss on ordinary activities before taxation	( 228,780)	( 364,931)
	---------	---------
Loss on ordinary activities by rate of tax	( 172,560)	( 73,047)
Utilisation of tax losses	172,560	73,047
	---------	---------
Tax on loss	–	–
	---------	---------

13. Tangible assets

Group	Freehold property	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£
Cost
At 1 January 2024	3,505,866	825,944	23,000	4,354,810
Additions	–	126,484	–	126,484
Disposals	–	–	( 23,000)	( 23,000)
	------------	---------	--------	------------
At 31 December 2024	3,505,866	952,428	–	4,458,294
	------------	---------	--------	------------
Depreciation
At 1 January 2024	1,188,231	335,119	23,000	1,546,350
Charge for the year	49,290	165,698	–	214,988
Disposals	–	–	( 23,000)	( 23,000)
	------------	---------	--------	------------
At 31 December 2024	1,237,521	500,817	–	1,738,338
	------------	---------	--------	------------
Carrying amount
At 31 December 2024	2,268,345	451,611	–	2,719,956
	------------	---------	--------	------------
At 31 December 2023	2,317,635	490,825	–	2,808,460
	------------	---------	--------	------------

The company has no tangible assets.

14. Investments

The group has no investments.

Company	Shares in group undertakings
	£
Cost
At 1 January 2024 and 31 December 2024	4,860,689
	------------
Impairment
At 1 January 2024	2,791,509
Impairment losses	234,214
	------------
At 31 December 2024	3,025,723
	------------

Carrying amount
At 31 December 2024	1,834,966
	------------
At 31 December 2023	2,069,180
	------------

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
RH Independent Healthcare Limited	Ordinary	100

15. Debtors

	Group		Company
	2024	2023	2024	2023
	£	£	£	£
Trade debtors	351,924	357,528	–	–
Amounts owed by group undertakings	2,768,053	2,823,363	2,146,049	2,146,049
Prepayments and accrued income	66,407	49,369	–	–
	------------	------------	------------	------------
	3,186,384	3,230,260	2,146,049	2,146,049
	------------	------------	------------	------------

Included in debtors above are balances owed from other group companies which do not form part of the consolidated group and which do not need to be removed on consolidation.

16. Creditors: amounts falling due within one year

	Group		Company
	2024	2023	2024	2023
	£	£	£	£
Bank loans and overdrafts	3,281,059	3,255,918	–	–
Trade creditors	251,278	252,597	–	–
Amounts owed to group undertakings	4,474,945	4,407,546	6,432,122	6,432,089
Accruals and deferred income	202,834	157,516	2,400	2,400
Social security and other taxes	181,210	245,149	2,752	2,752
Other creditors	44,339	42,340	–	–
	------------	------------	------------	------------
	8,435,665	8,361,066	6,437,274	6,437,241
	------------	------------	------------	------------

Bank loans are secured by a fixed and floating charge over all of the group's assets. The finance lease creditors are secured against the assets concerned.

Included in creditors above are balances owed to other group companies which do not form part of the consolidated group and which do not need to be removed on consolidation.

17. Employee benefits

Defined contribution plans

The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 25,306 (2023: £ 24,101 ).

18. Government grants

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

Group		Company
2024	2023	2024	2023
£	£	£	£

Recognised in other operating income:

Government grants recognised directly in income	–	4,756	–	–
	----	-------	----	----

19. Called up share capital

Issued, called up and fully paid

	2024		2023
	No.	£	No.	£
Ordinary shares of £ 1 each	1,000	1,000	1,000	1,000
	-------	-------	-------	-------

20. Reserves

Profit and loss account - This reserve records retained earnings and accumulated losses .

21. Analysis of changes in net debt

	At 1 Jan 2024	Cash flows	At 31 Dec 2024
	£	£	£
Cash at bank and in hand	100,396	(21,801)	78,595
Debt due within one year	(7,663,464)	(92,540)	(7,756,004)
	------------	---------	------------
	( 7,563,068)	( 114,341)	( 7,677,409)
	------------	---------	------------

22. Related party transactions

Company

The company paid key management remuneration totalling £22,170 (2023 - £19,722). The company has taken exemption under FRS102 from disclosing transactions with wholly owned members of the same group.

23. Controlling party

The company was under the control of the Trustees of the Prabhdyal Sodhi Overseas Settlement throughout the year, an entity based in Gibraltar. The immediate parent company is Browgil Limited , a company incorporated in England & Wales. The ultimate parent company is Lansbury Limited, a company incorporated in Gibraltar.