REGISTERED NUMBER: 04692647 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

HOLY CROSS CARE HOMES LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Director

3

Report of the Independent Auditors

4

Income Statement

8

Other Comprehensive Income

9

Balance Sheet

10

Statement of Changes in Equity

11

Notes to the Financial Statements

12

DIRECTOR:

L. R. Jones

SECRETARY:

Mrs D. J. Welsman-Jones

REGISTERED OFFICE:

Bradeney House Care Home

Worfield

Bridgnorth

Shropshire

WV15 5NT

REGISTERED NUMBER:

04692647 (England and Wales)

AUDITORS:

Stanton Ralph & Co Limited

Chartered Accountants

Statutory Auditor

The Old Police Station

Whitburn Street

Bridgnorth

Shropshire

WV16 4QP

The director presents his strategic report for the year ended 31st December 2024.

REVIEW OF BUSINESS

The company continues to operate two residential care homes, Holy Cross Residential Care Home in Shrewsbury and Bradeney House Residential Care Home in Worfield.

The care homes continue to trade positively with turnover increasing from £7,057k for the year ended 31 December 2023 to £7,724k for the year ended December 2024. Primarily as a result of increasing wage costs the company's profit before tax decreased to £623k from £897k in the prior year.

PRINCIPAL RISKS AND UNCERTAINTIES

Business risk

Income from local authorities is set each year for the period from 1 April of that year to 31 March of the following year. The rate per resident is determined by the local council based on the budget assigned to them through government policy, and is banded on individuals needs and requirements. The company limits its exposure to income changes through a mix of private and local authority funded residents, as well as maintaining high standards of quality.

During the year ended 31 December 2024 and subsequently the UK economy is experiencing higher inflation than normal leading in particular to increases in the minimum wage and in utility costs. Despite these cost issues the company has been able to maintain its gross margins. The company generates its own utilities using Biomass boilers, which provide heating and hot water to Bradeney House, solar panels and on site water pumps.

Liquidity risk

The company makes monthly repayment of its bank loan facilities, which remain in place subject to various standard liquidity covenants requiring compliance on a quarterly basis. The company maintains a rolling two year forecast to facilitate its ongoing compliance with its debt servicing costs and banking covenants.

FINANCIAL KEY PERFORMANCE INDICATORS

The director considers turnover, earnings before interest, tax and depreciation (EBITDA), net increase in cash and room occupancy to be the key financial performance indicators of the group. The results for the year were as follows:

2024

2023

£

£

Turnover

7,723,867

7,057,699

EBITDA

925,910

1,226,435

Net increase in cash

489,755

(1,036,052)

The company does not disclose room occupancy rates as this is considered to be commercially sensitive to the business.

ON BEHALF OF THE BOARD:

L. R. Jones - Director

25th September 2025

The director presents his report with the financial statements of the company for the year ended 31st December 2024.

PRINCIPAL ACTIVITIES

The principal activities of the company in the year under review were those of the operation of residential homes for the elderly.

DIVIDENDS

The total distribution of dividends for the year ended 31st December 2024 will be £nil (2023: £nil)

DIRECTOR

L. R. Jones held office during the whole of the period from 1st January 2024 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements 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 director is 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 him to ensure that the financial statements comply with the Companies Act 2006. He is 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:

L. R. Jones - Director

25th September 2025

Opinion

We have audited the financial statements of Holy Cross Care Homes Limited (the 'company') for the year ended 31st December 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, 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 Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31st December 2024 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

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

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

Other information

The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

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 this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

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 Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of director's remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is 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 director determines 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 director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditors' 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 a Report of the Auditors 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.

Extent to which the audit was considered capable of detecting irregularities, including fraud

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or

error, and then design and perform audit procedures responsive to those risks, including obtaining audit

evidence that is sufficient and appropriate to provide a basis for our opinion.

Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and

non-compliance with laws and regulations, our procedures include the following:

- Enquiring of the directors and senior management

- Discussing among the engagement team, including the tax team, how and where fraud might occur in the

financial statements

- Obtaining an understanding of the legal and statutory framework that the company operates in. The key

laws and regulations we considered in this context include the Companies Act 2006, Tax Legislation and

Environmental and Health and Safety legislation.

Audit response to risks identified

Our procedures to respond to risks identified included the following:

- Reviewing the financial statement disclosures and testing to supporting documentation to assess

compliance with relevant laws and regulations

- Enquiring of management and the directors concerning actual and potential litigation and claims

- Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks

of material misstatement due to fraud

- Completing focused testing on all revenue streams via a detailed review of a sample of documents

supporting revenue recorded during the year.

- Reviewing managements forecasts, including an assessment of their reasonableness, for the recoverability of

tax losses.

- Addressing the risk of fraud through management override of controls via reviewing the appropriateness of

journal entries and other adjustments, assessing whether the judgements made in making accounting

estimates are indicative of a potential bias and evaluating the business rationale of any significant

transactions that are unusual or outside the normal course of business

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement

team members and remained alert to any indications of fraud or non-compliance with laws and regulations

throughout the audit

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

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 a Report of the Auditors 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.

Darren Foot FCA (Senior Statutory Auditor)

for and on behalf of Stanton Ralph & Co Limited

Chartered Accountants

Statutory Auditor

The Old Police Station

Whitburn Street

Bridgnorth

Shropshire

WV16 4QP

25th September 2025

7,057,699

TURNOVER

3

7,723,867

6,001,228

Administrative expenses

6,966,375

1,056,471

757,492

52,956

Other operating income

61,701

1,109,427

OPERATING PROFIT

5

819,193

103,555

Waiver of inter-group loans

6

-

1,005,872

819,193

11,012

Interest receivable and similar income

7

11,747

1,016,884

830,940

101,983

Interest payable and similar expenses

8

-

914,901

PROFIT BEFORE TAXATION

830,940

18,221

Tax on profit

9

208,757

896,680

PROFIT FOR THE FINANCIAL YEAR

622,183

896,680

PROFIT FOR THE YEAR

622,183

-

OTHER COMPREHENSIVE INCOME

-

896,680

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

622,183

FIXED ASSETS

-

Intangible assets

10

-

610,457

Tangible assets

11

548,201

610,457

548,201

CURRENT ASSETS

5,715,894

Debtors

12

6,079,724

1,803,946

Cash at bank and in hand

2,293,701

7,519,840

8,373,425

CREDITORS

262,376

Amounts falling due within one year

13

465,139

7,257,464

NET CURRENT ASSETS

7,908,286

7,867,921

TOTAL ASSETS LESS CURRENT LIABILITIES

8,456,487

CREDITORS

(38,346

)

Amounts falling due after more than one year

14

(21,904

)

(81,010

)

PROVISIONS FOR LIABILITIES

19

(63,835

)

7,748,565

NET ASSETS

8,370,748

CAPITAL AND RESERVES

100

Called up share capital

20

100

7,748,465

Retained earnings

21

8,370,648

7,748,565

SHAREHOLDERS' FUNDS

8,370,748

The financial statements were approved and authorised for issue by the director and authorised for issue on 25th September 2025 and were signed by:

L. R. Jones - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1st January 2023

100

6,851,785

6,851,885

Changes in equity

Total comprehensive income

-

896,680

896,680

Balance at 31st December 2023

100

7,748,465

7,748,565

Changes in equity

Total comprehensive income

-

622,183

622,183

Balance at 31st December 2024

100

8,370,648

8,370,748

1.	STATUTORY INFORMATION

Holy Cross Care Homes Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

The values presented have been rounded to the nearest Pound (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements contain information about Holy Cross Care Homes Limited as an individual company and do not contain consolidated financial information as the parent of a group. L R Jones Shropshire Limited, the company's parent undertaking, prepares consolidated financial statements in which the results of Holy Cross Care Homes Limited and its subsidiary undertaking are included. The consolidated financial statements of L R Jones Shropshire Limited are separately available.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows;

•

the requirement of paragraph 3.17(d).

Preparation of consolidated financial statements

The financial statements contain information about Holy Cross Care Homes Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, L R jones Shropshire Limited, Bradeney House Nursing & Care Home, Worfield, Bridgnorth, Shropshire WV15 5NT.

Turnover

Turnover represents fees receivable from private residents and local authorities, and is recognised on an accruals basis in line with room occupation. Income received in advance is included as deferred income.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, has been written off evenly over ten years, the director's estimate of its useful economic life.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation and any accumulated impairment costs. Costs include costs indirectly attributable to making the asset capable of operating as intended.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life with no account taken of any potential residual values:

Equipment

- 15% on cost,

Leasehold Improvement - 1% and 10% on cost.

Tangible fixed assets are depreciated from the date the assets are brought into use. Freehold land is not depreciated.

Impairment of assets

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amounts of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the income statement.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in the prior years. A reversal of an impairment loss is recognised immediately in the income statement.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective rate of interest method, less impairment. If an arrangement constitutes a financial transaction it is measured at present value.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Finance costs

Finance costs are charged to the profit and loss account over the capital repayment term of the debt so that the amount charged is at a constant rate on the carrying amount. Where borrowings are refinanced any remaining deferred costs are fully written off.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

3.

TURNOVER

The turnover and profit before taxation are attributable to the principal activities of the company.

An analysis of turnover by class of business is given below:

31.12.24

31.12.23

£

£

Residential care

7,291,251

7,057,699

Management fees

432,616

-

7,723,867

7,057,699

Turnover is wholly derived within the United Kingdom for the current and previous period.

4.	EMPLOYEES AND DIRECTORS

31.12.24

31.12.23

£

£

Wages and salaries

4,311,214

3,854,966

Social security costs

386,005

315,365

Other pension costs

79,834

66,223

4,777,053

4,236,554

The average number of employees during the year was as follows:

31.12.24

31.12.23

Care staff

164

162

Administration and clerical

9

7

173

169

31.12.24

31.12.23

£

£

Director's remuneration

-

16,552

5.	OPERATING PROFIT

The operating profit is stated after charging/(crediting):

31.12.24

31.12.23

£

£

Other operating leases

21,106

21,496

Depreciation - owned assets

123,158

133,638

Loss/(profit) on disposal of fixed assets

10,665

(10,125

)

Auditors' remuneration

9,713

9,250

Exceptional costs (note 6)

-

103,555

6.	EXCEPTIONAL ITEMS

31.12.24

31.12.23

£

£

Waiver of inter-group loans

-

(103,555

)

7.

INTEREST RECEIVABLE AND SIMILAR INCOME

31.12.24

31.12.23

£

£

Deposit account interest

5,608

4,858

Interest on corporation tax

6,139

6,154

11,747

11,012

8.

INTEREST PAYABLE AND SIMILAR EXPENSES

31.12.24

31.12.23

£

£

Bank loan interest

-

101,983

9.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

31.12.24

31.12.23

£

£

Current tax:

UK corporation tax

225,932

240,529

Over provision in prior

year

-

(281

)

Total current tax

225,932

240,248

Deferred tax

(17,175

)

(222,027

)

Tax on profit

208,757

18,221

UK corporation tax was charged at 23.52%) in 2023.

Reconciliation of total tax charge included in profit and loss

The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

31.12.24

31.12.23

£

£

Profit before tax

830,940

914,901

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2023 - 23.521%)

207,735

215,194

Effects of:

Expenses not deductible for tax purposes

26

24,986

Depreciation in excess of capital allowances

18,171

2,731

Adjustments to tax charge in respect of previous periods

-

(281

)

Loss/(profit) on disposal of assets

-

(2,382

)

Deferred tax

(17,175

)

(222,027

)

Total tax charge

208,757

18,221

10.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st January 2024

and 31st December 2024

230,350

AMORTISATION

At 1st January 2024

and 31st December 2024

230,350

NET BOOK VALUE

At 31st December 2024

-

At 31st December 2023

-

11.	TANGIBLE FIXED ASSETS

Leasehold

Motor

Totals

Improvements

Equipment

vehicles

£

£

£

£

COST

At 1st January 2024

3,272,321

190,431

2,961,309

120,581

Additions

118,148

-

31,154

86,994

Disposals

(70,740

)

-

-

(70,740

)

At 31st December 2024

3,319,729

190,431

2,992,463

136,835

DEPRECIATION

At 1st January 2024

2,661,864

16,082

2,628,556

17,226

Charge for year

123,158

2,800

99,833

20,525

Eliminated on disposal

(13,494

)

-

-

(13,494

)

At 31st December 2024

2,771,528

18,882

2,728,389

24,257

NET BOOK VALUE

At 31st December 2024

548,201

171,549

264,074

112,578

At 31st December 2023

610,457

174,349

332,753

103,355

12.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

296,323

273,479

Amounts owed by group undertakings

5,733,380

5,342,400

Other debtors

16,651

75,676

Prepayments

33,370

24,339

6,079,724

5,715,894

13.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Other loans (see note 15)

-

4,605

Trade creditors

98,621

65,451

Tax

179,299

13,692

Social security and other taxes

81,507

74,594

Other creditors

24,438

13,675

Directors' current accounts

7,850

3,983

Accruals and deferred income

56,984

69,934

Deferred government grants

16,440

16,442

465,139

262,376

14.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Deferred government grants

21,904

38,346