ACCOUNTS - Final Accounts

An analysis of turnover by class of business is as follows:

Registered number: 07475231

PAM WELLBEING LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

PAM WELLBEING LIMITED

COMPANY INFORMATION

Directors	A Bones
	C Rigg (Appointed 23 September 2024)


Registered number	07475231


Registered office	9 Lakeside Drive (Also known as 820 Mandarin Court)
	Centre Park
	Warrington
	Cheshire
	WA1 1GG


Independent auditors	WR Partners
	Chartered Accountants & Statutory Auditors
	Drake House
	Gadbrook Park
	Northwich
	Cheshire
	CW9 7RA

PAM WELLBEING LIMITED

CONTENTS

	Page
Strategic report	1
Director's report	2 - 3
Independent auditors' report	4 - 7
Statement of comprehensive income	8
Statement of financial position	9
Statement of changes in equity	10
Notes to the financial statements	11 - 22

PAM WELLBEING LIMITED

STRATEGIC REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

Introduction

The directors present the strategic report for the year ended 31 December 2024.

Business review

The Directors were satisfied with the performance of the Company in 2024. The Company has appointed one new director and through the delivery of a new operating structure have enabled the Company to deliver the levels of customer service expected whilst expanding the scope and scale of our operations.
Employee Assistance Programs are a maturing service and the company remains focussed on delivering and maintaining a high-quality service for our customers, whilst targeting operational efficiency. The company is targeting a significant pipeline of new business to support our growth ambitions and deliver on significant economies of scale opportunities. The Company continues to invest in technology to support our colleagues in the delivery of an excellent service to our customers.
Gross profit margins were 34% compared to 28% in 2023. The increase in margin is driven by sales mix and reflects the improved effectiveness of the operating model implemented by the Company.

Principal risks and uncertainties

The occupational health market remains consistent with previous years with demand for services increasing, balanced against a limited pool of qualified employees. As a result, the Company does not expect a negative impact other than competition in terms of its pricing. The Company continues to invest in its Colleagues benefit packages to attract and retain Colleagues in line with future growth.
The Company considers that it has limited exposure in Financial risk as the Company trades in the UK and invoices its clients in £’s (sterling) with no currency exposure.

Financial key performance indicators

The Company’s financial KPI’s continue to be turnover, gross profit and margin and EBITDA, which remain the major areas in shaping the future success of the business.

Other key performance indicators

Non financial KPI’s are numerous but as in previous years they continue to focus on utilisation of both Colleague and Associate Networks, Health & Safety, Compliance and customer delivery metrics.

This report was approved by the board on 25 September 2025 and signed on its behalf.

A Bones

Director

Page 1

PAM WELLBEING LIMITED

DIRECTOR'S REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

The director presents his report and the financial statements for the year ended 31 December 2024.

Director's responsibilities statement

The director is responsible for preparing the Strategic report, the Director's report 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), 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 for the Company's financial statements 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 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 to 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.

Principal activity

The principal activity of the company continued to be that of the provision of counselling and physiotherapy services.

Results and dividends

The profit for the year, after taxation, amounted to £195,028 (2023 - £370,635).

No ordinary dividends were paid. The directors do not recommed payment of a final dividend.

Directors

The directors who served during the year were:

A Bones

B Collins (appointed 14 March 2023, resigned 24 April 2024)

J Murphy (resigned 8 January 2025)

C Rigg (appointed 23 September 2024)

Page 2

PAM WELLBEING LIMITED

DIRECTOR'S REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

Future developments

Our colleagues are our most important resource, and the Company continues to invest in benefits and packages that enable the Company to remain an attractive employer during a period where the cost of living has increased. The Company has reviewed it’s pricing to ensure that we can continue to operate successfully whilst remaining an attractive employer in a market where the pool of qualified employees remains a limiting factor to the scope and scale of services offered to our customers.

Disclosure of information to auditors

The director at the time when this Director's report is approved has confirmed that:

∙so far as is aware, there is no relevant audit information of which the Company's auditors are unaware, and

∙ has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Post balance sheet events

There have been no significant events affecting the Company since the year end.

Auditors

The auditors, WR Partners, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board on 25 September 2025 and signed on its behalf.

A Bones

Director

Page 3

PAM WELLBEING LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF PAM WELLBEING LIMITED

Opinion

We have audited the financial statements of PAM Wellbeing Limited (the 'Company') for the year ended 31 December 2024, which comprise the Statement of comprehensive income, the Statement of financial position, the Statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including 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 31 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 United Kingdom, including the Financial Reporting Council'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.

Page 4

PAM WELLBEING LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF PAM WELLBEING LIMITED (CONTINUED)

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The director is responsible for the other information contained within the Annual Report. 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. 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 course of 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.

Opinion 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 Director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

∙the Strategic report and the Director's report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

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

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

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

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

∙certain disclosures of 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 directors

As explained more fully in the Director's responsibilities statement set out on page 2, 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 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 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.

Page 5

PAM WELLBEING LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF PAM WELLBEING LIMITED (CONTINUED)

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 an Auditors' 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:

The audit team obtained an understanding of the legal and regulatory frameworks that are applicable to the Company and determined that the most significant are those that relate to the reporting framework (FRS 102 and the Companies Act 2006), the relevant tax compliance regulations, employment law, health and safety regulations and UK General Data Protection Regulation. We understood how the Company is complying with these frameworks by making enquiries of management and those responsible for legal and compliance procedures.
The audit team identified the risk of management override of controls and revenue recognition as the areas where the financial statements were most susceptible to material misstatement due to fraud. Audit procedures performed included but were not limited to testing manual journal entries and other adjustments, consideration of management bias in relation to key estimates, and evaluating the business rationale in relation to significant, unusual transactions and transactions entered into outside the normal course of business. We tested a sample of revenue transactions recorded in the year and either side of the year end to determine whether revenue had been recorded correctly and in the correct period, as well as analytical review procedures, and procedures to obtain reasonable assurance that revenue was free from material misstatement due to fraud.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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 Auditors' report.

Page 6

PAM WELLBEING LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF PAM WELLBEING LIMITED (CONTINUED)

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 Auditors' 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.

Chris Speakman FCCA (Senior statutory auditor)

for and on behalf of

WR Partners

Chartered Accountants

Statutory Auditors

Drake House

Gadbrook Park

Northwich

Cheshire

CW9 7RA

26 September 2025

Page 7

PAM WELLBEING LIMITED

STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 DECEMBER 2024

	2024	2023
Note	£	£


Turnover	4	9,751,296	10,036,329
Cost of sales		(6,456,319)	(7,239,352)
Gross profit		3,294,977	2,796,977
Administrative expenses		(3,035,438)	(2,394,388)
Exceptional administrative expenses		(64,481)	(23,719)
Operating profit	5	195,058	378,870
Interest payable and similar expenses	9	(321)	(4,507)
Profit before tax		194,737	374,363
Tax on profit	10	291	(3,728)
Profit for the financial year		195,028	370,635

Other comprehensive income for the year
Total comprehensive income for the year		195,028	370,635

The notes on pages 11 to 22 form part of these financial statements.

Page 8

PAM WELLBEING LIMITED

REGISTERED NUMBER: 07475231

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Intangible assets	12		17,218		20,568
Tangible assets	13		13,120		23,811
			30,338		44,379
Current assets
Debtors: amounts falling due within one year	14	10,664,073		9,196,529
Cash at bank and in hand	15	17,024		7,458
		10,681,097		9,203,987
Creditors: amounts falling due within one year	16	(9,385,362)		(8,117,321)
Net current assets			1,295,735		1,086,666
Total assets less current liabilities			1,326,073		1,131,045

Net assets			1,326,073		1,131,045

Capital and reserves
Called up share capital	18	1	1
Profit and loss account		1,326,072	1,131,044
		1,326,073	1,131,045

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 September 2025.

A Bones

Director

The notes on pages 11 to 22 form part of these financial statements.

Page 9

PAM WELLBEING LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2024

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 January 2023	1	3,760,409	3,760,410
Comprehensive income for the year
Profit for the year	-	370,635	370,635
Contributions by and distributions to owners
Dividends: Equity capital	-	(3,000,000)	(3,000,000)

At 1 January 2024	1	1,131,044	1,131,045
Comprehensive income for the year
Profit for the year	-	195,028	195,028
At 31 December 2024	1	1,326,072	1,326,073

The notes on pages 11 to 22 form part of these financial statements.

Page 10

PAM WELLBEING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

PAM Wellbeing Limited is a private company limited by shares incorporated in England and Wales. The registered office is 9 Lakeside Drive ( Also Known As 820 Mandarin Court), Centre Park, Warrington, England, WA1 1GG.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

2.2

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 the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

∙the requirements of Section 7 Statement of Cash Flows;

∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);

∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;

∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of PAM Healthcare Limited as at 31 December 2024 and these financial statements may be obtained from its registered office, 9 Lakeside Drive ( Also Known As 820 Mandarin Court), Centre Park, Warrington, England, WA1 1GG.

2.3

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors to adopt the going concern basis of accounting in preparing the financial statements.

Page 11

PAM WELLBEING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.5

Operating leases: the Company as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 12

PAM WELLBEING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

The estimated useful lives range as follows:

Website development

7 years on straight line

Page 13

PAM WELLBEING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

				Fixtures and fittings	-	20%	reducing balance
				Computer equipment	-	20%	reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 14

PAM WELLBEING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the company’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.
In the opinion of the directors, the accounting estimates and judgements made in the course of preparing these financial statements are not difficult, subjective or complex to a degree which would warrant their description as critical.

Counselling and physiotherapy	9,751,296	10,036,329
	9,751,296	10,036,329

Analysis of turnover by country of destination:

					2024	2023
					£	£

United Kingdom	9,751,296	10,036,329
	9,751,296	10,036,329

Other operating lease rentals	-	220,260
Amortisation of intangible assets	3,350	2,362
Depreciation of owned tangible fixed assets	7,181	13,409

Operating rentals are now incurred by the group and recharged via a management fee.

Page 15

PAM WELLBEING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Fees payable to the Company's auditors for the audit of the Company's financial statements

11,760

11,200

Wages and salaries	2,896,341	3,573,001
Social security costs	286,692	356,842
Cost of defined contribution scheme	274,015	318,790
	3,457,048	4,248,633

The average monthly number of employees, including the director, during the year was as follows:

	2024	2023
	No.	No.

Administration	22	28
Clinical	59	82

	81	110

8.	Director's remuneration
		2024	2023
		£	£

Director's emoluments	24,521	112,833
Company contributions to defined contribution pension schemes	1,129	13,368
	25,650	126,201

During the year retirement benefits were accruing to 1 director (2023 - 1) in respect of defined contribution pension schemes.

Page 16

PAM WELLBEING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

9.	Interest payable and similar expenses
		2024	2023
		£	£

	Other interest payable	321	4,507
		321	4,507



Total current tax	-	-

Deferred tax
Origination and reversal of timing differences	(291)	3,728
Total deferred tax	(291)	3,728


		(291)	3,728

Page 17

PAM WELLBEING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

10.Taxation (continued)

Profit on ordinary activities before tax

194,737

374,363

Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 23.52%)	48,684	71,129
Effects of:
Expenses not deductible for tax purposes, other than goodwill amortisation and impairment	7,919	-
Capital allowances for year in excess of depreciation	906	3,790
Increase or decrease in pension fund prepayment/ accrual leading to an increase (decrease) in tax	-	(62)
Group relief	(57,800)	(71,129)
Total tax charge for the year	(291)	3,728

Factors that may affect future tax charges

There were no factors that may affect future tax charges.

11.	Dividends
		2024	2023
		£	£

	Dividends paid	-	3,000,000
		-	3,000,000

Page 18

PAM WELLBEING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

12.	Intangible asset

		Website development
		£
	Cost
	At 1 January 2024	23,455
	At 31 December 2024	23,455
	Amortisation
	At 1 January 2024	2,887
	Charge for the year on owned assets	3,350
	At 31 December 2024	6,237
	Net book value
	At 31 December 2024	17,218
	At 31 December 2023	20,568

Page 19

PAM WELLBEING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

13.	Tangible fixed assets

	Fixtures and fittings	Office equipment	Total
	£	£	£
Cost or valuation
At 1 January 2024	52,833	1,467	54,300
Disposals	(21,418)	-	(21,418)
At 31 December 2024	31,415	1,467	32,882
Depreciation
At 1 January 2024	29,950	538	30,488
Charge for the year on owned assets	6,874	307	7,181
Disposals	(17,907)	-	(17,907)
At 31 December 2024	18,917	845	19,762
Net book value
At 31 December 2024	12,498	622	13,120
At 31 December 2023	22,883	929	23,812

14.

Debtors

					2024	2023
					£	£


Trade debtors	343,909	226,996
Amounts owed by group undertakings	10,115,394	8,716,504
Other debtors	76,467	141,241
Prepayments and accrued income	111,195	94,971
Tax recoverable	14,826	14,826
Deferred taxation	2,282	1,991
	10,664,073	9,196,529

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PAM WELLBEING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

15.	Cash and cash equivalents
		2024	2023
		£	£

Cash at bank and in hand	17,024	7,458
	17,024	7,458

16.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Trade creditors	424,988	576,411
Amounts owed to group undertakings	8,498,167	6,908,981
Other taxation and social security	73,977	89,484
Other creditors	46,373	31,501
Accruals and deferred income	341,857	510,944
	9,385,362	8,117,321

LDC(Managers) Limited hold a fixed and floating charge over the assets of company dated 25 June 2021.
HSBC UK Bank Plc hold a fixed and floating charge over the assets of the company dated 11 October 2016.
HSBC UK Bank Plc hold a legal assignment of contract monies over the assets of the company and a negative pledge dated 16 January 2017.
HSBC UK Bank Plc hold a legal assignment of contract monies over the assets of the company and a negative pledge dated 2 February 2024.

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PAM WELLBEING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

17.	Deferred taxation

		2024
		£

	At beginning of year	1,991
	Charged to profit or loss	291
	At end of year	2,282

The deferred tax asset is made up as follows:
	2024	2023
	£	£

Accelerated capital allowances	(3,280)	(5,885)
Short term provisions	5,562	7,876
	2,282	1,991

The short term timing differences are expected to reverse in the next 12 months.

18.	Share capital
		2024	2023
		£	£

Allotted, called up and fully paid

1 (2023 - 1) Ordinary share of £1.00	1	1

19.	Pension commitments

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At 31 December 2024 the company owed £25,760 (2023: £31,502) to the pension scheme.

20.	Controlling party

People Asset Management Group Limited is the immediate parent company. PAM Healthcare Limited is the ultimate parent company and the largest and smallest group in which PAM Wellbeing Limited is a member and for which consolidated financial statements are prepared and publicly available. A copy of the group financial statements can be obtained from PAM Healthcare Limited, 9 Lakeside Drive (also known as 820 Mandarin Court), Centre Park, Warrington, England WA1 1GG.

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