ACCOUNTS - Final Accounts

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

Registered number: 14247666

CONNECTED CARE BIDCO LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

CONNECTED CARE BIDCO LIMITED

COMPANY INFORMATION

Directors	R W Jones
	J Jardevall
	G Porter (resigned 11 February 2025)
	C J Woolley
	N Holgate (appointed 11 February 2025)


Registered number	14247666


Registered office	Saxon House
	3 Onslow Street
	Guildford
	Surrey
	GU1 4SY


Independent auditor	MHA
	Statutory Auditors
	6th Floor
	2 London Wall Place
	London
	United Kingdom
	EC2Y 5AU

CONNECTED CARE BIDCO LIMITED

CONTENTS

	Page
Strategic Report	1
Directors' Report	2 - 3
Independent Auditor's Report	4 - 7
Statement of Comprehensive Income	8
Balance Sheet	9
Notes to the Financial Statements	10 - 21

CONNECTED CARE BIDCO LIMITED

STRATEGIC REPORT

FOR THE YEAR ENDED 31 MAY 2025

Introduction

The directors have the pleasure in presenting the strategic report for the year ended 31 May 2025. The company has not traded in the year to 31 May 2025.

Business review

The principal activity of the company during the year was that of an intermediary holding company. The principal activity of its indirect trading subsidiaries, Person Centred Software Limited, PGL OWL Limited , PGL AEHL Limited, PGL PCSL Limited, DepenSys Limited, ResHub Limited, KareInn Limited, and RedCrier Publications Ltd are technology companies providing digital solutions to social care.
The company has not traded in the year and no key performance indicators are applicable. Risks and uncertainties faced by the company relate only to the valuation of its investments. A full strategic report is available in the consolidated accounts of Connected Care Holdings Limited, the ultimate parent company.

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

N Holgate

Director

Date: 26 September 2025

Page 1

CONNECTED CARE BIDCO LIMITED

DIRECTORS' REPORT

FOR THE YEAR ENDED 31 MAY 2025

The directors present their report and the financial statements for the year ended 31 May 2025.

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.

Results and dividends

The loss for the year, after taxation, amounted to £5,721,508 (2024 - loss £5,716,181).

Directors

The directors who served during the year were:

R W Jones

J Jardevall

G Porter (resigned 11 February 2025)

C J Woolley

N Holgate (appointed 11 February 2025)

Future developments

The Group will continue to be acquisitive and enter into partnerships to ensure a comprehensive offering for its customers.

Qualifying third party indemnity provisions

Directors' liability and indemnity insurance was in force throughout the period to cover the directors and officers of the company against action brought against them in their personal capacity. Neither the insurance not the indemnity provide cover where the individual has acted fraudulently or dishonestly.

Page 2

CONNECTED CARE BIDCO LIMITED

DIRECTORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2025

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.

Auditor

The auditor previously traded through the legal entity MacIntyre Hudson LLP. In response to regulatory changes, MacIntyre Hudson LLP ceased to hold an audit registration with the engagement transitioning to MHA Audit Services LLP. MHA will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

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

N Holgate

Director

Date: 26 September 2025

Page 3

CONNECTED CARE BIDCO LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CONNECTED CARE BIDCO LIMITED

Opinion

We have audited the financial statements of Connected Care Bidco Limited (the 'Company') for the year ended 31 May 2025, which comprise the Statement of Comprehensive Income, the Balance Sheet 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 May 2025 and of its loss 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.

Page 4

CONNECTED CARE BIDCO LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CONNECTED CARE BIDCO LIMITED (CONTINUED)

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.

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 2, 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 5

CONNECTED CARE BIDCO LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CONNECTED CARE BIDCO 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:

• Enquiry of management and those charged with governance around actual and potential litigation and
  claims;
• Performing audit work over the risk of management 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 bias;
• 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.

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 Auditor's Report.

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.

Page 6

CONNECTED CARE BIDCO LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CONNECTED CARE BIDCO LIMITED (CONTINUED)

Georgette Alicia Crisp BSc (Hons) FCA (Senior Statutory Auditor)

for and on behalf of

MHA

Statutory Auditors

London, United Kingdom

26 September 2025 MHA is the trading name of MHA Audit Services LLP, a limited liability partnership in England and Wales (registered number OC455542)

Page 7

CONNECTED CARE BIDCO LIMITED

STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 MAY 2025

	2025	2024
Note	£	£


Turnover	3	287,908	197,379
Gross profit		287,908	197,379
Administrative expenses		(797,559)	(548,374)
Operating loss		(509,651)	(350,995)
Interest receivable and similar income	7	-	34
Interest payable and similar expenses	8	(5,211,857)	(5,365,220)
Loss before tax		(5,721,508)	(5,716,181)
Tax on loss	9	-	-
Loss for the financial year		(5,721,508)	(5,716,181)

There was no other comprehensive income for 2025 (2024:£NIL).

The notes on pages 10 to 21 form part of these financial statements.

Page 8

CONNECTED CARE BIDCO LIMITED

REGISTERED NUMBER: 14247666

BALANCE SHEET

AS AT 31 MAY 2025

		2025		2024
Note		£		£

Fixed assets
Investments	10		95,226,206		95,226,206
			95,226,206		95,226,206
Current assets
Debtors: amounts falling due after more than one year	11	101,200		177,200
Debtors: amounts falling due within one year	11	5,132,780		3,406,614
Cash at bank and in hand	12	30,412		1,662
		5,264,392		3,585,476
Creditors: amounts falling due within one year	13	(5,181,828)		(2,566,659)
Net current assets			82,564		1,018,817
Total assets less current liabilities			95,308,770		96,245,023
Creditors: amounts falling due after more than one year	14		(110,505,971)		(105,720,718)

Net liabilities			(15,197,201)		(9,475,695)

Capital and reserves
Called up share capital	16	1	1
Profit and loss account	17	(15,197,202)	(9,475,696)
		(15,197,201)	(9,475,695)

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

N Holgate

Director

Date: 26 September 2025

The notes on pages 10 to 21 form part of these financial statements.

Page 9

CONNECTED CARE BIDCO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

1.	General information

Connected Care Bidco Limited is a private company limited by shares incorporated in England within the United Kingdom. The address of the registered office is Saxon House, 3 Onslow Street, Guildford, Surrey, GU1 4SY.
The principal activity of the Company during the financial period was that of a managing company, whose main function is to hold and manage investments in other companies..

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.

The financial statements are presented in sterling which is the functional currency of the Company and rounded to the nearest £1.

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 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Connected Care Holdings Limited as at 31 May 2025 and these financial statements may be obtained from Saxon House, 3 Onslow Street, Guildford, Surrey, GU1 4SY.

2.3

Exemption from preparing consolidated financial statements

The Company is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of any part of the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 400 of the Companies Act 2006.

2.4

Going concern

After reviewing the forecasts and projections of the Company, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The Company continues to adopt the going concern basis in preparing its financial statements.

Page 10

CONNECTED CARE BIDCO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

2.Accounting policies (continued)

2.5

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.

2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.9

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 Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 11

CONNECTED CARE BIDCO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

2.Accounting policies (continued)

2.10

Taxation

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.

2.11

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.12

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.

2.13

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.

2.14

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.

2.15

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes

Page 12

CONNECTED CARE BIDCO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

2.Accounting policies (continued)

2.15

Financial instruments (continued)

party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date.

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the

Page 13

CONNECTED CARE BIDCO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

2.Accounting policies (continued)

2.15

Financial instruments (continued)

effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Management licence fee	287,908	197,379
	287,908	197,379

					2025	2024
					£	£

United Kingdom	287,908	197,379
	287,908	197,379

All turnover arose within the United Kingdom.

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

8,500

7,500

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.

Page 14

CONNECTED CARE BIDCO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

5.	Employees
		2025	2024
		£	£

Wages and salaries	96,667	-
Social security costs	13,232	-
Cost of defined contribution scheme	2,838	-
	112,737	-

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

	2025	2024
	No.	No.

Directors	4	4

6.	Directors' remuneration
		2025	2024
		£	£

Directors' emoluments	96,667	-
Company contributions to defined contribution pension schemes	2,838	-
	99,505	-

During the year retirement benefits were accruing to no directors (2024 - NIL) in respect of defined contribution pension schemes.

7.	Interest receivable
		2025	2024
		£	£

	Other interest receivable	-	34
		-	34

Page 15

CONNECTED CARE BIDCO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

8.	Interest payable and similar expenses
		2025	2024
		£	£

Bank interest payable	1,664,104	1,735,018
Other loan interest payable	3,547,753	3,630,202
	5,211,857	5,365,220



Total current tax	-	-

	Deferred tax
	Total deferred tax	-	-


	Tax on loss	-	-

Loss on ordinary activities before tax

(5,721,508)

(5,716,181)

Loss on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%)	(1,430,377)	(1,429,045)
Effects of:
Unrelieved tax losses carried forward	-	232,176
Group relief	1,430,377	1,196,869
Total tax charge for the year	-	-

Factors that may affect future tax charges

There are no factors that may affect future tax charges.

Page 16

CONNECTED CARE BIDCO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

10.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 June 2024	95,226,206
	At 31 May 2025	95,226,206

Subsidiary undertaking
The following was a subsidiary undertaking of the Company:
Name	Registered office	Class of shares	Holding

Panecea Group Limited

Saxon House, 3 Onslow Street, Guildford, Surrey, GU1 4SY.

Ordinary

100%

Page 17

CONNECTED CARE BIDCO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

11.	Debtors
		2025	2024
		£	£

Due after more than one year
Prepayments and accrued income	101,200	177,200
	101,200	177,200

					2025	2024
					£	£

Due within one year
Trade debtors	4,200	4,199
Amounts owed by group undertakings	5,013,828	3,283,928
Other debtors	38,752	42,487
Prepayments and accrued income	76,000	76,000
	5,132,780	3,406,614

12.	Cash and cash equivalents
		2025	2024
		£	£

Cash at bank and in hand	30,412	1,662
	30,412	1,662

13.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Bank loans	262,500	175,000
Trade creditors	-	110,235
Amounts owed to group undertakings	4,825,531	2,281,424
Other creditors	59,284	-
Accruals and deferred income	34,513	-
	5,181,828	2,566,659

Amounts owed to group undertakings are unsecured, interest free and repayable on demand.

Page 18

CONNECTED CARE BIDCO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

14.	Creditors: Amounts falling due after more than one year
		2025	2024
		£	£

Bank loans	18,305,000	17,067,500
Amounts owed to group undertakings	82,353,926	82,353,926
Accruals and deferred income	9,847,045	6,299,292
	110,505,971	105,720,718

The loan is secured by the floating charge over the company's assets. The loan is interest bearing at a commercial rate.
Amounts owed to group undertakings are unsecured, interest free and repayable on demand.

Page 19

CONNECTED CARE BIDCO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

Amounts falling due within one year
Bank loans	262,500	175,000
	262,500	175,000
Amounts falling due 1-2 years
Bank loans	460,500	-
	460,500	-
Amounts falling due 2-5 years
Bank loans	17,844,500	17,067,500
	17,844,500	17,067,500

	18,567,500	17,242,500

Page 20

CONNECTED CARE BIDCO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

16.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

1 (2024 - 1) Ordinary share share of £1.00	1	1

17.

Reserves

Profit and loss account

The profit and loss account represents the accumulation of profits and losses incurred since incorporation.

18.	Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held seperately 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 £2,838 (2024: £Nil). Contributions totalling £7,569 (2024: £Nil) were payable to the fund at the balance sheet date and are included in creditors.

19.	Related party transactions
	The Company has taken advantage of the exemption available in Financial Reporting Standard 102 Section 33 whereby it has not disclosed transactions with the ultimate parent company or any wholly owned subsidiary undertaking of the group.

20.	Controlling party

The ultimate parent company is Connected Care Holdings Limited. Connected Care Holdings Limited is a company registered in England and Wales with a registration number of 14247664 and a registered office of Saxon House, 3 Onslow Street, Guildford, Surrey, GU1 4SY. The consolidated financial statements of Connected Care Holdings Limited are available from the Registrar of Companies, Companies House, Cardiff, CF14 3UZ.
The ultimate controlling party is 1 Cow Corner LP, by virtue of owning controlling share capital in Connected Care Holdings Limited, the ultimate parent company.

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