ACCOUNTS - Final Accounts

The whole of the turnover is attributable to provision of residential care services.

Registered number: 05849911

RODWELL HOUSE LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

TWP ACCOUNTING LLP
Chartered Accountants & Statutory Auditors
The Old Rectory
Church Street
Weybridge
Surrey
KT13 8DE

RODWELL HOUSE LIMITED

COMPANY INFORMATION

Directors	W E Graham
	Dr K E Graham


Registered number	05849911


Registered office	Rowtown
	Addlestone
	Surrey
	KT15 1HH


Independent auditor	TWP Accounting LLP
	Chartered Accountants & Statutory Auditors
	The Old Rectory
	Church Street
	Weybridge
	Surrey
	KT13 8DE

RODWELL HOUSE LIMITED

CONTENTS

	Page
Strategic Report	1 - 2
Directors' Report	3 - 4
Independent Auditor's Report	5 - 8
Statement of Comprehensive Income	9
Balance Sheet	10
Statement of Changes in Equity	11
Notes to the Financial Statements	12 - 21

RODWELL HOUSE LIMITED

STRATEGIC REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

Business review

We aim to present a balanced and comprehensive review of the development and performance of our business during the period and its position at the period end. Our review is consistent with the size and non-complex nature of our business and is written in the context of the risks and uncertainties we face.

We consider that our key financial performance indicators are those that communicate the financial performance and strength of the company, these being:

Key Performance Indicators
			2024	2023


Occupancy	98%	98%
Turnover	£5,678,621	£5,328,323
EBITDAR	£2,124,227	£1,857,845

Turnover, occupancy and EBITDAR increased when compared to the previous year.

We consistently strive to maintain high quality standards. The Directors continue to take immediate measured steps to address and deal with any matters requiring improvement including and not limited to the agreement of specific action plans with the CQC.
Uncertainty remains around the increases in staffing costs arising from increases in the National Living Wage and Employer’s National Insurance Contributions. This could put downward pressure on future profitability of the business. However, the government’s continued commitment to including care work on the shortage occupations list means that the necessary number of care workers can be recruited from abroad so that the business can maintain full staffing continuously. We expect this to continue for the foreseeable future.

At Rodwell House Limited, we operate around 80 places for people with high dependency long term care needs, ranging from older people with dementia to younger people with severe disabilities.
Our main distinguishing features are considered to be:
1. Care Suites
Our residents’ rooms are based around the "care suite" model, which provides more space than care home bedrooms and helps them to consider the suite to be their home rather than their bed-room.

Page 1

RODWELL HOUSE LIMITED

STRATEGIC REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Relationship Centred Care TM
We have adopted Relationship Centred Care™ as our principal approach to care provision, with the aim of building stronger relationships between residents, staff, relatives, friends, etc. This takes the well-established concept of Person Centred Care one step further with the recognition that to enable residents to be happy and fulfilled; we need to get to know them better and to understand their past and present relationships with others.
3. Servant leadership
Servant Leadership is based on the desire to serve others. The servant-leader essentially acts as servant, rather than as a master. "Service" in this context is not to be confused with "servitude." Servitude implies being in a one down position to another person and giving from a place of "need to" or "have to.” True service, by contrast, stems from a desire to give from the heart. It is freely shared without first seeking something in return. The sheer joy of giving is the reward gained from this level of service.
Most organisations today still lead by a Command & Control style of leadership. Servant Leadership is a more consensual form of leadership that recognises the value of people to fulfil the organisation's mission. It is about engaging everyone involved and using their talents to the full.
Against this background, we feel that the company is well positioned to continue its investment in new facilities and to reinforce its position as a leading provider of long term care in the area in which it operates.

This report was approved by the board on 19 September 2025 and signed on its behalf.

................................................

W E Graham

Director

Page 2

RODWELL HOUSE LIMITED

DIRECTORS' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

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

Principal activity

The principal activity of the company was the provision of accommodation and care for people with on-going personal and nursing care needs in Rodwell House.

Results and dividends

The profit for the year, after taxation, amounted to £1,809,343 (2023 - £1,725,472).

During the year the company paid dividends of £1,809,343 (2023 - £1,725,472).

Directors

The directors who served during the year were:

W E Graham

Dr K E Graham

Directors' responsibilities statement

The directors are responsible for preparing the Strategic Report, the 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 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 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 Company and of the profit or loss of the Company for that period.

In preparing these financial statements, the directors are 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 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 to 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.

Engagement with employees

Rodwell House Limited operates a framework for employee information and consultation, which complies with the requirements of the Information and Consultation of Employees Regulations 2004. During the year, the policy of providing employees with information about the group has continued by holding regular meetings between local management and employees. These meetings allow a free flow of information and ideas.

Page 3

RODWELL HOUSE LIMITED

DIRECTORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

Disabled employees

Rodwell House Limited gives full consideration to applications for employment from disabled persons where the candidate's particular aptitudes and abilities are consistent with adequately meeting the requirements of the job. Opportunities are available to disabled employees for training, career development and promotion. Where existing employees become disabled, it is the group's policy to provide continuing employment wherever practicable in the same or an alternative position and to provide appropriate training to achieve this aim.

Disclosure of information to auditor

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:

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

∙the director 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 auditor is aware of that information.

Post balance sheet events

There have been no significant events affecting the company since the balance sheet date.

Auditor

The auditor, TWP Accounting LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board on 19 September 2025 and signed on its behalf.

................................................

W E Graham

Director

Page 4

RODWELL HOUSE LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF RODWELL HOUSE LIMITED

Opinion

We have audited the financial statements of Rodwell House Limited (the 'Company') for the year ended 31 December 2024, which comprise the Statement of Comprehensive Income, the Balance Sheet, 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 Auditor's 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 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 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 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.

Page 5

RODWELL HOUSE LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF RODWELL HOUSE LIMITED (CONTINUED)

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 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 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, 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 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 set out on page 3, 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 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 Company or to cease operations, or have no realistic alternative but to do so.

Page 6

RODWELL HOUSE LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF RODWELL HOUSE LIMITED (CONTINUED)

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:

∙Obtain an understanding of the policies and procedures management have in place to detect and prevent fraud and non-compliance with laws and regulations.

∙Enquire of management any cases of actual or suspected fraud and non-compliance with laws and regulations.

∙Enquire of management, those charged with governance and the entity’s solicitors around actual and potential litigation and claims.

∙Reviewing minutes of meetings of those charged with governance.

∙Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.

∙Assess the key risk areas within the financial statements which are susceptible to fraud or error and design our audit approach thereon.

∙Perform substantive tests on a sample of transactions throughout the financial statements to ensure that no material errors have been identified.

∙Perform cut off tests on a sample of transactions to ensure income has been accounted for in the correct period.

∙Review of after year end information to ensure expenditure has been accounted for in the correct period.

∙Perform analytical review procedures to identify any irregularities and investigation thereon.

∙Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business.

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 Auditor's Report.

Page 7

RODWELL HOUSE LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF RODWELL HOUSE 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 Auditor's Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

Philip Munk FCA, FCCA (Senior Statutory Auditor)

for and on behalf of

TWP Accounting LLP

Chartered Accountants

Statutory Auditors

The Old Rectory

Church Street

Weybridge

Surrey

KT13 8DE

20 September 2025

Page 8

RODWELL HOUSE LIMITED

STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 DECEMBER 2024

	2024	2023
Note	£	£


Turnover	3	5,678,621	5,328,323
Cost of sales		(3,555,868)	(3,470,479)
Gross profit		2,122,753	1,857,844
Administrative expenses		(115,175)	(103,565)
Other operating income	4	1,474	-
Operating profit	5	2,009,052	1,754,279
Tax on profit	8	(199,709)	(28,807)
Profit for the year		1,809,343	1,725,472

Other comprehensive income for the year
Unrealised surplus on revaluation of tangible fixed assets	943,120	1,792,288
Deferred tax on revaluation of freehold property	(235,780)	(448,072)
Other comprehensive income for the year	707,340	1,344,216
Total comprehensive income for the year	2,516,683	3,069,688

The notes on pages 12 to 21 form part of these financial statements.

Page 9

RODWELL HOUSE LIMITED

REGISTERED NUMBER: 05849911

BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Tangible assets	10		23,217,425		22,189,066
			23,217,425		22,189,066
Current assets
Stocks	11	5,628		8,859
Debtors: amounts falling due within one year	12	713,061		812,918
Cash at bank and in hand	13	69,163		239,467
		787,852		1,061,244
Creditors: amounts falling due within one year	14	(11,422,038)		(11,642,742)
Net current liabilities			(10,634,186)		(10,581,498)
Total assets less current liabilities			12,583,239		11,607,568
Provisions for liabilities
Deferred tax	15	(3,152,175)		(2,883,844)
			(3,152,175)		(2,883,844)
Net assets			9,431,064		8,723,724

Capital and reserves
Called up share capital	16	1,000	1,000
Revaluation reserve	17	9,425,064	8,717,724
Profit and loss account	17	5,000	5,000
		9,431,064	8,723,724

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 19 September 2025.

................................................

W E Graham

Director

The notes on pages 12 to 21 form part of these financial statements.

Page 10

RODWELL HOUSE LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2024

	Called up share capital	Revaluation reserve	Profit and loss account	Total equity
	£	£	£	£
At 1 January 2023	1,000	7,373,508	5,000	7,379,508
Comprehensive income for the year
Profit for the year	-	-	1,725,472	1,725,472
Surplus on revaluation of freehold property	-	1,344,216	-	1,344,216
Other comprehensive income for the year	-	1,344,216	-	1,344,216
Total comprehensive income for the year	-	1,344,216	1,725,472	3,069,688
Contributions by and distributions to owners
Dividends to parent	-	-	(1,725,472)	(1,725,472)
Total transactions with owners	-	-	(1,725,472)	(1,725,472)

At 1 January 2024	1,000	8,717,724	5,000	8,723,724
Comprehensive income for the year
Profit for the year	-	-	1,809,343	1,809,343
Surplus on revaluation of freehold property	-	707,340	-	707,340
Other comprehensive income for the year	-	707,340	-	707,340
Total comprehensive income for the year	-	707,340	1,809,343	2,516,683
Contributions by and distributions to owners
Dividends to parent	-	-	(1,809,343)	(1,809,343)
Total transactions with owners	-	-	(1,809,343)	(1,809,343)
At 31 December 2024	1,000	9,425,064	5,000	9,431,064

The notes on pages 12 to 21 form part of these financial statements.

Page 11

RODWELL HOUSE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Rodwell House Limited is incorporated in England and Wales and limited by shares. The principal activity of the company is the provision of retirement accommodation and related nursing services. The address of the registered office is given in the company information of these financial statements.

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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

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.

The company have taken exemption from preparing a cashflow statement. The consolidated results and cashflow statements for the company are included within the publicly available financial statements of Blackstown Holdings Limited.

The following principal accounting policies have been applied:

2.2

Going concern

The Directors are confident that the Group and the company has adequate financial resources to continue and adopt the going concern basis in preparing the annual report and financial statements.

2.3

Turnover

Turnover comprises revenue recognised by the company in respect of nursing and residential care services during the year, exclusive of Value Added Tax and trade discounts.
Income is recognised based on occupancy during the reporting period and adjustment is made for any amounts received in advance or arrears.

2.4

Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Equipment - Items under £500 - 50% straight line
- Items above £500 - 15% reducing balance
Motor vehicles - 33% straight line

Page 12

RODWELL HOUSE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.5

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

The freehold property used by the company is recognised as tangible fixed assets and any associated gains and losses and deferred taxation thereon are recognised in the revaluation reserve.

2.6

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

2.7

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.

2.8

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.

2.9

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.

2.10

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

2.11

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 13

RODWELL HOUSE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.12

Pensions

When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.
The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

2.13

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 balance sheet 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 balance sheet 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 balance sheet date.

United Kingdom	5,678,621	5,328,323
	5,678,621	5,328,323

All turnover arose within the United Kingdom.

Page 14

RODWELL HOUSE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

4.	Other operating income
		2024	2023
		£	£

Government grants receivable	1,474	-
	1,474	-

Depreciation

78,259

75,876

6.	Auditor's remuneration
		2024	2023
		£	£

Auditor's remuneration

8,850

8,430

The Company has taken advantage of the exemption not to disclose amounts paid for non-audit services as these are disclosed in the consolidated accounts of the parent Company.

Wages and salaries	2,465,042	2,290,294
Social security costs	246,701	224,531
Cost of defined contribution scheme	30,178	31,052
	2,741,921	2,545,877

The average monthly number of employees, excluding the directors not paid through the company, during the year was as follows:

	2024	2023
	No.	No.

Care home staff	79	85

Page 15

RODWELL HOUSE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Corporation tax
Current tax on profits for the year	152,959	-
Adjustments in respect of previous periods	14,199	-
	167,158	-

Total current tax	167,158	-

Deferred tax
Origination and reversal of timing differences	32,551	28,807
Total deferred tax	32,551	28,807


	Taxation on profit on ordinary activities	199,709	28,807

Page 16

RODWELL HOUSE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

8.Taxation (continued)

Profit on ordinary activities before tax

2,009,052

1,754,279

Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 25%)	502,263	438,570
Effects of:
Capital allowances for year in excess of depreciation	(36,644)	(30,295)
Adjustments to tax charge in respect of prior periods	14,199	-
Increase or decrease in pension fund prepayment leading to an increase (decrease) in tax	66	(189)
Short-term timing difference leading to an increase (decrease) in taxation	32,551	28,241
Book profit on chargeable assets	4,027	2,243
Group relief	(316,753)	(409,763)
Total tax charge for the year	199,709	28,807

9.	Dividends
		2024	2023
		£	£

	Dividends to parent	1,809,343	1,725,472
		1,809,343	1,725,472

Page 17

RODWELL HOUSE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

10.	Tangible fixed assets

	Freehold property	Equipment	Motor vehicles	Total
	£	£	£	£
Cost or valuation
At 1 January 2024	21,790,000	692,007	2,400	22,484,407
Additions	56,880	122,724	-	179,604
Disposals	-	(50,087)	-	(50,087)
Revaluations	943,120	-	-	943,120
At 31 December 2024	22,790,000	764,644	2,400	23,557,044
Depreciation
At 1 January 2024	-	292,941	2,400	295,341
Charge for the year on owned assets	-	78,259	-	78,259
Disposals	-	(33,981)	-	(33,981)
At 31 December 2024	-	337,219	2,400	339,619
Net book value
At 31 December 2024	22,790,000	427,425	-	23,217,425
At 31 December 2023	21,790,000	399,066	-	22,189,066

Cost or valuation at 31 December 2024 is as follows:

			Land and buildings
			£

		At cost	10,779,733
		At valuation:
		Revaluation surplus as at 31 December 2024	12,010,267

			22,790,000

Page 18

RODWELL HOUSE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

10.Tangible fixed assets (continued)

If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:
	2024	2023
	£	£


Cost	10,779,733	10,722,853
Accumulated depreciation	(1,135,794)	(1,052,691)
Net book value	9,643,939	9,670,162

The land and buildings were revalued as at 31 December 2024 by Henry Harris MRICS of Cushman & Wakefield using a multiple of the Fair Maintainable EBITDA.

11.	Stocks
		2024	2023
		£	£

Finished goods and goods for resale	5,628	8,859
	5,628	8,859

12.

Debtors

					2024	2023
					£	£


Trade debtors	382,626	493,641
Amounts owed by group undertakings	289,249	197,543
Other debtors	32,871	111,780
Prepayments and accrued income	8,315	9,954
	713,061	812,918

13.	Cash and cash equivalents
		2024	2023
		£	£

Cash at bank and in hand	69,163	239,467
	69,163	239,467

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RODWELL HOUSE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

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

Trade creditors	58,010	62,609
Amounts owed to group undertakings	10,949,155	11,343,016
Corporation tax	152,959	-
Other taxation and social security	62,887	59,525
Other creditors	160,883	141,712
Accruals and deferred income	38,144	35,880
	11,422,038	11,642,742

The company has pledged its assets as security against any bank loans and overdrafts held by the group companies. At the year end, there are amounts outstanding in respect of secured debts of £40,961,039 (2023 - £41,418,601) in Graham Care (YB) Limited and £17,339,526 (2023 - £17,339,526) in Graham Care (BL) Limited.
The group's bankers have a fixed and floating charge over the company's assets.

15.	Deferred taxation

		2024
		£

	At beginning of year	(2,883,844)
	Charged in the year	(268,331)
	At end of year	(3,152,175)

The provision for deferred taxation is made up as follows:
	2024	2023
	£	£

Accelerated capital allowances	(566,972)	(534,423)
Deferred tax on revaluation gains	(2,585,203)	(2,349,421)
	(3,152,175)	(2,883,844)

16.	Share capital
		2024	2023
		£	£

Allotted, called up and fully paid

1,000 (2023 - 1,000) Ordinary shares of £1.00000 each	1,000	1,000

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RODWELL HOUSE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

17.

Reserves

Revaluation reserve

The revaluation reserve represents the effect of revaluation of tangible fixed assets where a policy of revaluation has been adopted.

Profit and loss account

The profit and loss account represents cumulative profits and losses net of dividends and other adjustments.

18.	Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £30,178 (2023 - £31,052) which is included within Wages and salaries. Contributions totalling £6,144 (2023 - £5,526) were payable to the fund at the balance sheet date and are included in other creditors.

19.	Related party transactions
	The company is a wholly owned subsidiary and accordingly has taken the exemptions provided within paragraph 33.1A of FRS 102 and therefore transactions with group companies have not been disclosed.

20.	Controlling party

The company is a wholly owned subsidiary of Graham Care (YB) Limited. The ultimate parent company is Blackstown Holdings Limited, a company incorporated in England and Wales, which is under the control of Dr K E Graham and W E Graham who are the directors of the company.

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