REGISTERED NUMBER: 12182699 (England and Wales)

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTOR AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

L R JONES SHROPSHIRE LIMITED

Page

Company Information

1

Group Strategic Report

2

Report of the Director

4

Report of the Independent Auditors

6

Consolidated Income Statement

10

Consolidated Other Comprehensive Income

11

Consolidated Balance Sheet

12

Company Balance Sheet

13

Consolidated Statement of Changes in Equity

14

Company Statement of Changes in Equity

15

Consolidated Cash Flow Statement

16

Notes to the Consolidated Cash Flow Statement

17

Notes to the Consolidated Financial Statements

18

DIRECTOR:

L. R. Jones

REGISTERED OFFICE:

Bradeney House Nursing & Care Home

Worfield

Bridgnorth

Shropshire

WV15 5NT

REGISTERED NUMBER:

12182699 (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 of the company and the group for the year ended 31st December 2024.

REVIEW OF BUSINESS

Through the main trading subsidiary, Holy Cross Care Homes Limited, the Group 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 profitably with turnover increasing from £7,377,725 for the year ended 31 December 2023 to £8,158,905 for the year ended December 2024.

In line with the increase in turnover the Company's profit before tax increased to £1,379,374 from £1,221,935 in the prior year.

In the 2023 year end the Group restructured via the acquisition of Jones Estates Limited, a company previously under the common ownership of the Groups shareholders. The Company also acquired the trade and assets of Jones Homes rental partnership, formerly owned by the Group's shareholders. The acquisition of both entities resulted in acquisition of investment property valued £5,365,764 in 2023.

Rental income form investment property for the year ended 31st December 2024 was £435,039 (2023: £277,130).

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 Group limits its exposure to income changes through a mix of private and local authority funded residents, as well as maintaining high standard 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 Group has been able to maintain its profit margins. The Group generates its own utilities using Biomass boilers, which provide heating and hot water to Bradeney House, solar panels and on site water pumps.

Liquidity risks

The Group has monthly repayments as a result of its bank finance, and the banking arrangement is repayable on the breach of associated covenants. The group prepares rolling two year forecast covering the Group's ability to meet debt service costs and compliance with the 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 the key financial performance indicators of the group. The results for the year were as follows:

2024

2023

£

£

Turnover

8,158,905

7,377,725

EBITDA

1,956,150

1,769,970

Net movement in cash

621,027

(1,870,378)

The Group 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 and the group for the year ended 31st December 2024.

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of a holding company.

The principle activity of the Group is the provision of residential care home facilities and the provision of service rentals and ground rentals on previously sold properties.

DIVIDENDS

Interim dividends per share on the A Ordinary 0.5 shares were paid as follows:

62.5

31st March 2024

62.5

30th June 2024

62.5

30th September 2024

62.5

31st December 2024

Interim dividends per share on the B Ordinary 0.5 shares were paid as follows:

62.5

31st March 2024

62.5

30th June 2024

62.5

30th September 2024

62.5

31st December 2024

The director recommends that no final dividends be paid on these shares.

The total distribution of dividends for the year ended 31st December 2024 will be £120,000.

DIRECTOR

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

DISCLOSURE IN THE STRATEGIC REPORT

A review of the business, future developments, principal risks and uncertainties and financial key performance indicators are included in the strategic report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Group 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). 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 the group and of the profit or loss of the group 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group 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 group'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 group's auditors are aware of that information.

AUDITORS

The auditors, Stanton Ralph & Co Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

L. R. Jones - Director

25th September 2025

Opinion

We have audited the financial statements of L R Jones Shropshire Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31st December 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, 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 group's and of the parent company affairs as at 31st December 2024 and of the group's 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 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 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 group's and 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 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 Group 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 Group 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 Group 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 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 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 four, 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 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 director either intends to liquidate the group or the parent 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtain and update our understanding of the entity, its activities, its control environment, and its likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatements 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. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

- enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;

- reviewing minutes of meetings of those charged with governance;

- assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statement disclosures and testing to supporting documentation to assess compliance with laws and regulations; and

- performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to 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 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

7,377,725

TURNOVER

3

8,158,905

5,906,519

Administrative expenses

6,517,723

1,471,206

1,641,182

96,756

Other operating income

4

92,047

1,567,962

OPERATING PROFIT

6

1,733,229

11,012

Interest receivable and similar income

7

11,749

1,578,974

1,744,978

357,039

Interest payable and similar expenses

8

365,689

1,221,935

PROFIT BEFORE TAXATION

1,379,289

402,037

Tax on profit

9

357,787

819,898

PROFIT FOR THE FINANCIAL YEAR

1,021,502

Profit attributable to:

819,898

Owners of the parent

1,021,502

819,898

PROFIT FOR THE YEAR

1,021,502

OTHER COMPREHENSIVE INCOME

395,810

-

-

Income tax relating to other comprehensive income

-

395,810

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

-

1,215,708

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,021,502

Total comprehensive income attributable to:

1,215,708

Owners of the parent

1,021,502

FIXED ASSETS

-

Intangible assets

12

-

10,290,443

Tangible assets

13

10,128,812

-

Investments

14

-

5,761,574

Investment property

15

5,994,776

16,052,017

16,123,588

CURRENT ASSETS

433,018

Debtors

16

381,159

1,942,812

Cash at bank and in hand

2,563,855

2,375,830

2,945,014

CREDITORS

1,150,281

Amounts falling due within one year

17

1,274,447

1,225,549

NET CURRENT ASSETS

1,670,567

17,277,566

TOTAL ASSETS LESS CURRENT LIABILITIES

17,794,155

CREDITORS

(5,200,202

)

Amounts falling due after more than one year

18

(4,832,322

)

(423,627

)

PROVISIONS FOR LIABILITIES

22

(406,594

)

11,653,737

NET ASSETS

12,555,239

CAPITAL AND RESERVES

320

Called up share capital

23

320

1,449,980

Share premium

24

1,449,980

5,890,001

Other reserves

24

5,890,001

395,810

Fair value reserve

24

395,810

3,917,626

Retained earnings

24

4,819,128

11,653,737

SHAREHOLDERS' FUNDS

12,555,239

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

L. R. Jones - Director

FIXED ASSETS

-

Intangible assets

12

-

9,413,283

Tangible assets

13

9,322,578

290

Investments

14

290

2,816,500

Investment property

15

3,049,702

12,230,073

12,372,570

CURRENT ASSETS

47,770

Debtors

16

14,925

19,749

Cash at bank

17,530

67,519

32,455

CREDITORS

5,789,147

Amounts falling due within one year

17

6,095,887

(5,721,628

)

NET CURRENT LIABILITIES

(6,063,432

)

6,508,445

TOTAL ASSETS LESS CURRENT LIABILITIES

6,309,138

CREDITORS

(4,279,916

)

Amounts falling due after more than one year

18

(3,926,626

)

(226,910

)

PROVISIONS FOR LIABILITIES

22

(227,149

)

2,001,619

NET ASSETS

2,155,363

CAPITAL AND RESERVES

320

Called up share capital

23

320

1,449,980

Share premium

1,449,980

551,319

Retained earnings

705,063

2,001,619

SHAREHOLDERS' FUNDS

2,155,363

124,919

Company's profit for the financial year

273,744

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

L. R. Jones - Director

Called up

share

Retained

Share

capital

earnings

premium

£

£

£

Balance at 1st January 2023

500

3,167,728

-

Changes in equity

Dividends

-

(70,000

)

-

Total comprehensive income

-

819,898

-

Balance at 31st December 2023

500

3,917,626

-

Changes in equity

Dividends

-

(120,000

)

-

Total comprehensive income

-

1,021,502

-

Balance at 31st December 2024

500

4,819,128

-

Fair

Other

value

Total

reserves

reserve

equity

£

£

£

Balance at 1st January 2023

-

-

3,168,228

Changes in equity

Increase in share capital

5,890,001

-

5,890,001

Dividends

-

-

(70,000

)

Total comprehensive income

-

395,810

1,215,708

Balance at 31st December 2023

5,890,001

395,810

10,203,937

Changes in equity

Dividends

-

-

(120,000

)

Total comprehensive income

-

-

1,021,502

Balance at 31st December 2024

5,890,001

395,810

11,105,439

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Balance at 1st January 2023

200

496,400

-

496,600

Changes in equity

Issue of share capital

120

-

1,449,980

1,450,100

Dividends

-

(70,000

)

-

(70,000

)

Total comprehensive income

-

124,919

-

124,919

Balance at 31st December 2023

320

551,319

1,449,980

2,001,619

Changes in equity

Dividends

-

(120,000

)

-

(120,000

)

Total comprehensive income

-

273,744

-

273,744

Balance at 31st December 2024

320

705,063

1,449,980

2,155,363

Cash flows from operating activities

1,618,127

Cash generated from operations

1

2,025,767

(373,266

)

Tax paid

(120,430

)

1,244,861

Net cash from operating activities

1,905,337

Cash flows from investing activities

(166,640

)

Purchase of tangible fixed assets

(118,537

)

(413,759

)

Purchase of investment property

(233,202

)

11,881

Sale of tangible fixed assets

46,582

1,750,000

Assets acquired in business combination

-

(1,350,000

)

Cash paid in business combination

-

11,012

Interest received

11,749

(157,506

)

Net cash from investing activities

(293,408

)

Cash flows from financing activities

(2,132,888

)

Loan repayments in year

(330,974

)

(357,039

)

Interest paid

(365,689

)

(407,424

)

Amount withdrawn by directors

(303,331

)

9,618

Amounts advanced by directors

129,108

(70,000

)

Equity dividends paid

(120,000

)

(2,957,733

)

Net cash from financing activities

(990,886

)

(1,870,378

)

Increase/(decrease) in cash and cash equivalents

621,043

3,813,190

Cash and cash equivalents at beginning of year

2

1,942,812

1,942,812

Cash and cash equivalents at end of year

2

2,563,855

1.	RECONCILIATION OF PROFIT FOR THE FINANCIAL YEAR TO CASH GENERATED FROM OPERATIONS

31.12.24

31.12.23

£

£

Profit for the financial year

1,021,502

819,898

Depreciation charges

222,921

202,008

Loss/(profit) on disposal of fixed assets

10,665

(10,125

)

Government grant amortisation

(16,896

)

(16,893

)

Finance costs

365,689

357,039

Finance income

(11,749

)

(11,012

)

Taxation

357,787

402,037

1,949,919

1,742,952

Decrease/(increase) in trade and other debtors

51,859

(134,605

)

Increase in trade and other creditors

23,989

9,780

Cash generated from operations

2,025,767

1,618,127

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31st December 2024

31.12.24

1.1.24

£

£

Cash and cash equivalents

2,563,855

1,942,812

Year ended 31st December 2023

31.12.23

1.1.23

£

£

Cash and cash equivalents

1,942,812

3,813,190

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1.1.24

Cash flow

At 31.12.24

£

£

£

Net cash

Cash at bank and in hand

1,942,812

621,043

2,563,855

1,942,812

621,043

2,563,855

Debt

Debts falling due within 1 year

(323,452

)

(20,464

)

(343,916

)

Debts falling due after 1 year

(5,118,702

)

351,438

(4,767,264

)

(5,442,154

)

330,974

(5,111,180

)

Total

(3,499,342

)

952,017

(2,547,325

)