REGISTERED NUMBER: 04296959 (England and Wales)

GROUP STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

AUDITED CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

SPRINGCARE LIMITED

Page

Company Information

1

Group Strategic Report

2

to

6

Report of the Director

7

to

8

Report of the Independent Auditors

9

to

12

Consolidated Statement of Comprehensive Income

13

Consolidated Statement of Financial Position

14

Company Statement of Financial Position

15

Consolidated Statement of Changes in Equity

16

Company Statement of Changes in Equity

17

Consolidated Statement of Cash Flows

18

Notes to the Consolidated Statement of Cash Flows

19

to

20

Notes to the Consolidated Financial Statements

21

to

47

DIRECTOR:

L D Cox

REGISTERED OFFICE:

Nicholson House

Shakespeare Way

Whitchurch

SY13 1LJ

BUSINESS ADDRESS:

Nicholson House

Shakespeare Way

Whitchurch Business Park

Whitchurch

Shropshire

SY13 1LJ

REGISTERED NUMBER:

04296959 (England and Wales)

SENIOR STATUTORY AUDITOR:

Michelle Coates

AUDITORS:

Sumer Auditco Limited

Chartered Accountants & Statutory Auditors

Stone House

Stone Road Business Park

Stoke-on-Trent

ST4 6SR

BANKERS:

Barclays Bank PLC

Leicester

LE87 2BB

The director presents his strategic report of the company and the group for the year ended 31 December 2024.

The director presents his strategic report of the company and the group for the year ended 31 December 2024.

The company holds investments in trading subsidiaries which provide residential and care services for the elderly.

FINANCIAL AND BUSINESS REVIEW

The results for the year and financial position of the Company and Group are shown in the annexed statements.

As at 31 December the Group provided nursing and residential care to 410 (82% average) residents across 11 care homes in the UK (2023: more than 401 residents across 11 care home in the UK (79% average)).

Total revenue increased by £2.64m (11.8%) to £25,009,390 in the year (2023: £22,370,546). This increase in revenue was driven by an increase in occupancy and fee rate inflation.

EBITDA from continuing operations has increased to £4.09m (2023: £3.79m). This has been driven by an increase in occupancy, fee rate inflation and reducing agency usage offset by an increase to labour pay rates.

The group operates in a highly competitive market. Inflationary pressures remain a point of concern, and this will depend on the extent on how fees rise to allow to be offset against the inflationary pressures and the resulting cost of care provision. The sector uses a significant amount of labour, energy and food, costs of which all saw price growth in the year. Price monitoring and market research are carried out to help mitigate such risks.

The financials presented in this year's accounts are a testament to the robustness and resilience of the healthcare sector. Going forward the key concern is to the extent to which operations can absorb rising costs and subsequently pass onto residents via fee increases.

Key performance indicators

The key performance indicators used to monitor progress of the Company against its objectives are:

- Average occupancy

- Average weekly fee levels

- Staff turnover and retention

- Staff and agency costs

- EBITDA

- Compliance with changing legislation i.e. CQC, HSE

KEY RISKS AND UNCERTAINTIES

Financial Risk Management

The groups operations expose it to a variety of financial risks that include the effects of changes in credit risk, liquidity risk and interest rate risk. The group has in place a risk management programme that seeks to limit the adverse effects on the financial performance of the group by monitoring levels of finance and related finance costs.

Credit risk

The Group's principal financial assets are cash and trade debtors. The principal credit risk arises primarily from delays or defaults in payments by local authorities, NHS bodies, and private residents. While public sector funding typically carries low default risk, delayed payments can impact cash flow. Private residents, especially those self-funding, may present higher risk due to reliance on personal assets or guarantors. To mitigate this the Group maintains clear payment terms and actively monitors aged debt.

Liquidity risk

The Group has continued to maintain liquidity and sufficient working capital for its ongoing operations and future developments. The company finances its business using a mixture of retained profit, trade credit and funding facilities provided by various lenders.

Interest rate risk

Interest rate risk requires significant consideration due to the Group's reliance on long-term financing for property development, refurbishment, and ongoing operational support. Fluctuations in interest rates can materially impact the cost of borrowing and, consequently, the financial sustainability of care home operations.

Key risks and uncertainties

The Group faces several risks and uncertainties from external factors. The following are the most significant:

Reputation

Serious events related to the delivery of care services have the potential to generate negative media coverage and increase scrutiny from both regulators and the families of residents.

To reduce this risk, we provide ongoing training to all staff through a structured programme that includes both mandatory and specialist development. All care staff undergo Disclosure and Barring Service (DBS) checks. We also utilise a leading electronic compliance system to monitor adherence to care standards. Robust procedures are in place to report and review risks and incidents, with lessons learned integrated into practice to help prevent recurrence.

Regulatory risk

Under the Health and Social Care Act 2008, the regulator for health and social care in England is the Care Quality Commission (CQC) which began operating in April 2009.

The group depends on its continued service quality and compliance with regulations. Failure to comply could result in regulatory action which could include penalties or revocation of licences to operate.

Over 82% of the group's homes currently have an overall CQC rating of good.

Competition

The Group try to remain as competitive as possible within the geographical locations of our homes. The business monitors prices to ensure its services are appropriately priced to compete and provide value for residents.

Other key considerations are population density, age profile and the availability of staff.

The UK's over-65 population is expected to grow to approximately 15.3?million by 2030 and 18.8?million by 2050, and current market analysis indicates that this will continue to place significant pressure on the elderly care sector. The market remains at risk of reaching capacity by the end of this decade, with a shortfall of more than 200,000 care beds anticipated by 2050, underscoring the ongoing need for additional investment and development.

Property risks

Property risks include the potential for significant events such as major fires, legionella outbreaks, structural damage, or critical equipment failure. A serious fire could pose a direct threat to the safety of residents and staff, while the loss of key infrastructure or equipment could severely disrupt care delivery.

To mitigate these risks, external fire risk assessments are conducted annually or at the latest every three years, with interim internal reviews ensuring any emerging concerns, whether that is structural or operational, are promptly addressed. We aim for full compliance across all statutory planned maintenance activities, including routine checks of fire alarms and gas systems.

Staff training is a key element of our fire safety strategy, ensuring that team members are not only prepared to respond to emergencies but are also aware of potential fire hazards. Additionally, all care homes operate under a legionella testing and compliance schedule. Our overall approach remains strongly risk-averse, prioritising safety and service continuity at all times.

Future developments

The group plans to continue to develop and deliver high quality nursing and residential services. We continue to explore other care categories / demands with local authorities.

As part of our commitment to improving operational efficiency and financial oversight, we have recently implemented several key systems. We introduced a dedicated prepaid card and expense management system to handle residents' monies, providing enhanced transparency, security, and accountability in managing these funds. In addition, in 2025, we deployed a new cash flow management system that enables us to more effectively monitor, manage, and accurately forecast the business's future cash flow position, thereby strengthening our financial planning capabilities.

During 2024, we completed the construction of a new 16-bed facility at the same location where River Meadows is situated. The project, with an estimated cost of approximately £1.3 million, is now awaiting CQC inspections and is scheduled to open in summer 2025.

SECTION 172(1) STATEMENT

As required by Section 172 of the Companies Act, a director of a company must act in a way he or she considers, in good faith, would likely promote the success of the company for the benefit of the shareholders. In doing so, the director must have regard, amongst other matters, to the following issues:

- the likely consequences of any decisions in the long term.

- the interests of the company's employees.

- the need to foster the company's business relationships with suppliers/customers and others.

- the impact of the company's operations on the community and environment.

- the company's reputation for high standards of business conduct; and

- the need to act fairly between members of the company

As set out above in the Strategic Report the Board remains focussed on providing for shareholders through the long-term success of the Company. The means by which this is achieved is set out further below.

Likely consequences of any decisions in the long term

The Group reviews the risks facing the business as part of the operational review at each Board meeting.

The Group has a system of financial controls and reporting procedures in place which are considered to be appropriate given the size and structure of the Group and the nature of risks associated with the Group's assets. Key procedures include:

- monthly management account reporting

- regular cashflow re-forecasting as circumstances change; and

- involvement of the management team in the day-to-day operations of the Company and it's subsidiaries

Interest of Employees

Springcare have a large number of employees, which are predominantly employed within the individual care homes. They have access to the home manager, Clinical management team and HR. The Group has a Policy manual and staff handbook which outlines expectations for delivering care to staff, wellness, whistleblowing, safeguarding etc

Homes have different staff recognitions from champions, best staff member award, long standing service award, birthdays etc

Regular staff meetings, supervisions and appraisals are carried out. Staff questionnaires are also used to seek their input on how the service can run more efficiently.

During the previous financial year, we introduced an intranet for staff use, which we have continued to enhance in the current year. This intranet allows staff to access all systems via apps and keeps them informed about upcoming business initiatives and events across the group.

Need to foster the company's business relationships with suppliers/customers and others

Delivering our strategy requires strong mutually beneficial relationships with suppliers, residents and Local Government.

As the success of the business primarily depends on these key relationships, the Company continually assess those that we do business with to ensure that they remain engaged.

Impact of the company's operations on the community and environment

The Group takes its responsibility within the community and wider environment seriously. The Group is committed to conducting its business in an efficient and responsible manner.

Home managers maintain a close dialogue with local communities, there are excellent links with additional services to enhance the service provided such as local churches holding a service, school children visiting, PAT dogs, volunteers etc. The homes have enjoyed being able to welcome visitors back into the homes.

Facebook and Instagram is used to advertise and promote community links.

The desirability of the company maintaining a reputation for high standards of business conduct

The management team are committed to high standards of business conduct and governance. Where there is a need to seek advice on particular issues, the company will consult with it's nominated advisers to ensure its reputation for good business conduct is maintained.

The need to act fairly between members of the Company

The Group aims to keep shareholders fully informed of significant developments in the Group's progress. All information is made available to all shareholders at the same time and no individual shareholder, or group of shareholders, is given preferential treatment.

TAXATION AND PAYE

During the year, the Springcare Ltd Group have paid £2,662,179 to HM Revenue & Customs in the form of payroll and corporation taxes.

ON BEHALF OF THE BOARD:

L D Cox - Director

30 September 2025

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

DIVIDENDS

No dividends will be distributed for the year ended 31 December 2024.

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTOR

L D Cox held office during the whole of the period from 1 January 2024 to the date of this report.

EMPLOYMENT OF DISABLED PERSONS

The group gives full consideration to applications for employment from disabled persons where the requirements of the job can be adequately fulfilled by a handicapped or disabled person. Where existing employees become disabled, it is the group's policy wherever practicable to provide continuing employment under normal terms and conditions and to provide training and career development and promotion to disabled employees wherever appropriate.

EMPLOYEE INVOLVEMENT

The group is committed to good communication with its employees. Regular meetings are held between local management and employees to allow a free flow of information and ideas.

DISCLOSURE IN THE STRATEGIC REPORT

The group has chosen in accordance with section 414C(11) of the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 to set out in the group's strategic report information required by schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008. Likely future developments in the business and financial risk management strategies have been disclosed in the strategic report.

The strategic report can be found on page 2 of these financial statements.

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;

-	state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

-	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 auditor is deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006.

ON BEHALF OF THE BOARD:

L D Cox - Director

30 September 2025

Opinion

We have audited the financial statements of SPRINGCARE LIMITED (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2024 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Statement of Financial Position, Company Statement of Financial Position, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Statement of Cash Flows and Notes to the Consolidated Statement of Cash Flows, 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 31 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 seven, 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

•

the nature of the industry and sector, control environment and business performance including the design of the group remuneration policies, key drivers for directors' remuneration, bonus levels and performance targets;

•

results of our enquiries of management about their own identification and assessment of the risks of irregularities;

•

any matters we identified having obtained and reviewed the group documentation of their policies and procedures relating to:

-

identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of noncompliance;

-

detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;

-

the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;

•

the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

Based on this approach, we were able to assess the group risks and ensure the risks were considered throughout all areas of audit testing across all group companies. The audit team was professionally sceptical throughout the audit and remained alert for inaccurate or misleading information.

Audit response to risks identified

As a result of performing the above, we identified the outcome of CQC inspections as a key audit matter related to the potential risk of fraud or irregularities.

Our procedures to respond to risks identified included the following:

• reviewing the outcome of CQC inspections and other correspondence with CQC.

• reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;

• enquiring of management concerning actual and potential litigation and claims;

• performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

• obtained an understanding of provisions and held discussions with management to understand the basis of recognition or non-recognition of tax provisions; and

• in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

Audit testing was completed on a targeted sample basis based on our assessment of risk and materiality. Due to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing fraud or non-compliance with laws and regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations.

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

-

Identify and assess the risks of material misstatement 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. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

-	Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the group's internal control.

-	Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the director.

-

Conclude on the appropriateness of the director's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the group or the parent company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Report of the Auditors to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Report of the Auditors. However, future events or conditions may cause the group or the parent company to cease to continue as a going concern.

-	Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

-	Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the group to express and opinion on the consolidated financial statements.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

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.

Michelle Coates (Senior Statutory Auditor)

for and on behalf of Sumer Auditco Limited

Chartered Accountants & Statutory Auditors

Stone House

Stone Road Business Park

Stoke-on-Trent

ST4 6SR

30 September 2025

TURNOVER

25,009,390

22,370,546

Cost of sales

(18,066,775

)

(15,448,924

)

GROSS PROFIT

6,942,615

6,921,622

Administrative expenses

(3,903,281

)

(3,887,468

)

3,039,334

3,034,154

Other operating income

200,139

93,296

OPERATING PROFIT

5

3,239,473

3,127,450

Interest receivable and similar income

7

11,394

39,608

3,250,867

3,167,058

Interest payable and similar expenses

8

(1,263,745

)

(1,205,829

)

PROFIT BEFORE TAXATION

1,987,122

1,961,229

Tax on profit

9

(536,508

)

(506,182

)

PROFIT FOR THE FINANCIAL YEAR

1,450,614

1,455,047

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,450,614

1,455,047

Profit attributable to:

Owners of the parent

1,450,614

1,455,047

Total comprehensive income attributable to:

Owners of the parent

1,450,614

1,455,047

FIXED ASSETS

Intangible assets

11

87,542

119,691

Tangible assets

12

51,307,101

46,127,051

Investments

13

-

-

51,394,643

46,246,742

CURRENT ASSETS

Stocks

14

130,153

125,232

Debtors

15

21,043,070

15,732,422

Cash at bank and in hand

2,296,973

3,898,543

23,470,196

19,756,197

CREDITORS

Amounts falling due within one year

16

(13,906,340

)

(11,014,921

)

NET CURRENT ASSETS

9,563,856

8,741,276

TOTAL ASSETS LESS CURRENT LIABILITIES

60,958,499

54,988,018

CREDITORS

Amounts falling due after more than one year

17

(19,739,720

)

(18,647,966

)

PROVISIONS FOR LIABILITIES

21

(472,599

)

(461,898

)

NET ASSETS

40,746,180

35,878,154

CAPITAL AND RESERVES

Called up share capital

22

139,614

139,614

Non-distributable reserve

23

25,224,535

21,807,123

Capital redemption reserve

23

386

386

Retained earnings

23

15,381,645

13,931,031

SHAREHOLDERS' FUNDS

40,746,180

35,878,154

The financial statements were approved by the director and authorised for issue on 30 September 2025 and were signed by:

L D Cox - Director

FIXED ASSETS

Intangible assets

11

-

-

Tangible assets

12

1,261,745

1,130,224

Investments

13

145,199

145,199

1,406,944

1,275,423

CURRENT ASSETS

Stocks

14

114,949

110,519

Debtors

15

18,160,296

13,526,359

Cash at bank and in hand

619,599

620,985

18,894,844

14,257,863

CREDITORS

Amounts falling due within one year

16

(32,050,791

)

(25,394,364

)

NET CURRENT LIABILITIES

(13,155,947

)

(11,136,501

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(11,749,003

)

(9,861,078

)

CREDITORS

Amounts falling due after more than one year

17

(1,502,504

)

(1,054,759

)

PROVISIONS FOR LIABILITIES

21

(278,152

)

(228,002

)

NET LIABILITIES

(13,529,659

)

(11,143,839

)

CAPITAL AND RESERVES

Called up share capital

22

139,614

139,614

Capital redemption reserve

23

386

386

Special reserve

23

170,656

170,656

Retained earnings

23

(13,840,315

)

(11,454,495

)

SHAREHOLDERS' FUNDS

(13,529,659

)

(11,143,839

)

Company's loss for the financial year

(2,385,820

)

(2,301,654

)

The financial statements were approved by the director and authorised for issue on 30 September 2025 and were signed by:

L D Cox - Director

Called up

Capital

share

Retained

Non-distributable

redemption

Total

capital

earnings

reserve

reserve

equity

£

£

£

£

£

Balance at 1 January 2023

139,614

12,475,984

21,807,123

386

34,423,107

Changes in equity

Total comprehensive income

-

1,455,047

-

-

1,455,047

Balance at 31 December 2023

139,614

13,931,031

21,807,123

386

35,878,154

Changes in equity

Revaluation of fixed assets

-

-

3,417,412

-

3,417,412

Total comprehensive income

-

1,450,614

-

-

1,450,614

Balance at 31 December 2024

139,614

15,381,645

25,224,535

386

40,746,180

Called up

Capital

share

Retained

redemption

Special

Total

capital

earnings

reserve

reserve

equity

£

£

£

£

£

Balance at 1 January 2023

139,614

(9,152,841

)

386

170,656

(8,842,185

)

Changes in equity

Total comprehensive income

-

(2,301,654

)

-

-

(2,301,654

)

Balance at 31 December 2023

139,614

(11,454,495

)

386

170,656

(11,143,839

)

Changes in equity

Total comprehensive income

-

(2,385,820

)

-

-

(2,385,820

)

Balance at 31 December 2024

139,614

(13,840,315

)

386

170,656

(13,529,659

)

Cash flows from operating activities

Cash generated from operations

1

939,765

5,107,900

Interest paid

(1,132,368

)

(1,115,943

)

Interest element of hire purchase payments paid

(131,377

)

(89,886

)

Tax paid

(176,349

)

(643,723

)

Net cash from operating activities

(500,329

)

3,258,348

Cash flows from investing activities

Purchase of tangible fixed assets

(1,102,717

)

(612,940

)

Sale of tangible fixed assets

120,742

42,133

Interest received

11,394

39,608

Net cash from investing activities

(970,581

)

(531,199

)

Cash flows from financing activities

Proceeds from borrowings

1,200,000

-

Loan repayments in year

(700,105

)

(690,200

)

Capital repayments in year

(739,682

)

(513,022

)

Amount introduced by directors

109,127

-

Amount withdrawn by directors

-

(145,798

)

Net cash from financing activities

(130,660

)

(1,349,020

)

(Decrease)/increase in cash and cash equivalents

(1,601,570

)

1,378,129

Cash and cash equivalents at beginning of year

2

3,898,543

2,520,414

Cash and cash equivalents at end of year

2

2,296,973

3,898,543