REGISTERED NUMBER: 05413458 (England and Wales)

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

SPRINGCARE (HATTON) LIMITED

Page

Statement of Financial Position

1

Notes to the Financial Statements

2

to

10

FIXED ASSETS

Tangible assets

5

5,250,000

5,331,508

CURRENT ASSETS

Stocks

1,418

1,418

Debtors

6

4,895,986

3,883,370

Cash at bank and in hand

254,426

598,895

5,151,830

4,483,683

CREDITORS

Amounts falling due within one year

7

(1,149,262

)

(894,999

)

NET CURRENT ASSETS

4,002,568

3,588,684

TOTAL ASSETS LESS CURRENT LIABILITIES

9,252,568

8,920,192

CREDITORS

Amounts falling due after more than one year

8

(2,764,700

)

(2,813,851

)

PROVISIONS FOR LIABILITIES

(6,435

)

(17,055

)

NET ASSETS

6,481,433

6,089,286

CAPITAL AND RESERVES

Called up share capital

240,000

240,000

Non-distributable reserve

2,076,382

2,122,214

Retained earnings

4,165,051

3,727,072

SHAREHOLDERS' FUNDS

6,481,433

6,089,286

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 September 2025 and were signed by:

L D Cox - Director

1.	STATUTORY INFORMATION

SPRINGCARE (HATTON) LIMITED is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

05413458

Registered office:

Nicholson House

Shakespeare Way

Whitchurch

Shropshire

SY1 1DW

The principal activity of the company is that of the provision of residential and care services for the elderly.

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The Springcare group forecast shows positive results and cash generation. The director has considered the current inflationary environment and the forecast takes into account cost pressures within the group. Occupancy levels for the Springcare Limited Group have steadily increased during the year and have continued to improve in the new financial year, which encourages us to believe that our forecasts are achievable.

The Director also considers that there is a reasonable expectation that the Company will have sufficient financial support from its fellow group companies when required and therefore have adequate resources to remain in operation for the foreseeable future. For this reason, the Director continues to adopt the going concern basis in preparing the financial statements.

SIGNIFICANT JUDGEMENTS AND ESTIMATES

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Judgements

The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows:

The tangible fixed assets are regularly revalued based on independent valuations which adopt value in use as the valuation basis. Value in use is determined by considering various factors such as EBITDA, occupancy levels and trading potential. As the valuations are performed at a particular point in time, they may be subject to fluctuation depending on current trading conditions. Due to this, the director regularly reviews the value in use to ensure that it is still appropriate.

Key sources of estimation uncertainty

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:

As described in the accounting policies of the financial statements, depreciation of tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take in to account actual asset lives and residual values as evidenced by disposals during current and prior accounting periods.

REVENUE RECOGNITION

The company provides residential and care services to the elderly. The turnover shown in the profit and loss account represents the fees due for the services provided during the year. Revenue is recognised in the period of care to which it is applicable.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on cost

Depreciation on land and buildings is not provided, as any uncharged depreciation for the year and the accumulated uncharged depreciation would be immaterial in aggregate, as a result of the estimated high residual value of the properties.

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Tangible fixed assets are valued on a value in use basis as a fully operational entity including fixtures and fittings, tools and equipment held by the company and having regard to its trading potential. Due to the specialist nature of the valuations, no deferred tax has been provided on the increase in value.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets

FINANCIAL INSTRUMENTS

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

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

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

HIRE PURCHASE AND LEASING COMMITMENTS

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

DEFINED CONTRIBUTION PLANS

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

EMPLOYEE BENEFITS

The company provides a range of benefits to employees.

Short term benefits, including holiday pay, are recognised as an expenses in the profit and loss account in the period in which they are incurred

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 47 (2023 - 46 ) .

4.	AUDITORS' REMUNERATION

31.12.24

31.12.23

£

£

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

3,840

3,445

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

COST OR VALUATION

At 1 January 2024

5,240,751

565,456

5,806,207

Additions

-

1,894

1,894

Revaluations

(45,832

)

-

(45,832

)

At 31 December 2024

5,194,919

567,350

5,762,269

DEPRECIATION

At 1 January 2024

-

474,699

474,699

Charge for year

-

37,570

37,570

At 31 December 2024

-

512,269

512,269

NET BOOK VALUE

At 31 December 2024

5,194,919

55,081

5,250,000

At 31 December 2023

5,240,751

90,757

5,331,508

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

31.12.24

31.12.23

£

£

Fixtures and fittings

24,475

45,325

24,475

45,325

The assets are secured under finance leases or hire purchase agreements taken out by the ultimate parent company, Springcare Limited.

Cost or valuation at 31 December 2024 is represented by:

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

Valuation in 2018

2,235,013

-

2,235,013

Valuation in 2021

(112,799

)

-

(112,799

)

Valuation in 2024

(45,832

)

-

(45,832

)

Cost

3,118,537

567,350

3,685,887

5,194,919

567,350

5,762,269

If tangible assets had not been revalued they would have been included at the following historical cost:

31.12.24

31.12.23

£

£

Cost

3,685,887

3,683,993

Aggregate depreciation

512,269

474,699

The business was valued in January 2025 by Eddisons as a fully equipped operational entity, including fixtures, fittings, tools and equipment help by the company at the valuation date and having regard to its trading potential. This valuation has been incorporated in the financial statements and the director considers the above valuation to be representative of fair value at the balance sheet date.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

456,698

385,006

Amounts owed by group undertakings

2,965,046

2,073,187

Other debtors

51

51

Amounts owed by connected

companies

1,439,918

1,384,918

Tax

6

-

Prepayments and accrued income

34,267

40,208

4,895,986

3,883,370

Amounts owed by group undertakings and connected companies are unsecured, interest free and repayable on demand.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

61,157

73,163

Trade creditors

59,242

68,480

Amounts owed to group undertakings

548,497

448,497

Tax

77,886

15,701

Social security and other taxes

19,591

20,190

Other creditors

84

2,589

Accruals and deferred income

382,805

266,379

1,149,262

894,999

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

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans - 1-2 years

61,157

76,333

Bank loans - 2-5 years

2,703,543

2,737,518

2,764,700

2,813,851

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Bank loans

2,825,857

2,887,014

A legal charge dated 27 May 2022 exists over the property and assets of the company in favor of Clydesdale Bank Limited together with cross guarantees with Springcare (Kings Court) Limited, Springcare (Sandiway) Limited and Springcare (Knutsford) Limited.

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Michelle Coates (Senior Statutory Auditor)

and acts on behalf of Sumer Auditco Limited

11.	OTHER FINANCIAL COMMITMENTS

There are cross guarantees between the following companies: Springcare (Sandiway) Limited, Springcare (Kings Court) Limited, Springcare (Knutsford) Limited and Springcare No2 Limited totalling £7,930,159 (2023: £5,861,510).

The amount of other commitments, guarantees and contingencies is £nil (2023: £998).

12.	RELATED PARTY DISCLOSURES

Details of transactions between fellow group companies have not been disclosed in line with paragraph 33.1A of FRS102.

13.	EVENTS AFTER THE END OF THE REPORTING PERIOD

There were no material events up to the date of approval of the financial statements by the Board.

14.	ULTIMATE CONTROLLING PARTY

The parent company is Barca Holdings Limited, a company incorporated in England and Wales.

The ultimate parent company is Springcare Limited, a company incorporated in England. Springcare Limited is the only group company that prepares consolidated financial statements, including the accounts of the company. A copy of the financial statements can be obtained from the registered office being; Nicholson House, Shakespeare Way, Whitchurch, SY13 1LJ.

15.	GOING CONCERN

The Springcare group forecast shows positive results and cash generation. The director has considered the current inflationary environment and the forecast takes into account cost pressures within the group. Occupancy levels for the Springcare Limited Group have steadily increased during the year and have continued to improve in the new financial year, which encourages us to believe that our forecasts are achievable.

The Director also considers that there is a reasonable expectation that the Company will have sufficient financial support from its fellow group companies when required and therefore have adequate resources to remain in operation for the foreseeable future. For this reason, the Director continues to adopt the going concern basis in preparing the financial statements.