REGISTERED NUMBER: 08124998 (England and Wales)

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

SPRINGCARE (ALBRIGHTON) LIMITED

Page

Statement of Financial Position

1

Notes to the Financial Statements

2

to

7

FIXED ASSETS

Tangible assets

4

60,169

105,990

Investments

5

34,972

34,972

95,141

140,962

CURRENT ASSETS

Stocks

1,385

1,385

Debtors

6

3,019,411

3,065,979

Cash at bank and in hand

36,170

115,876

3,056,966

3,183,240

CREDITORS

Amounts falling due within one year

7

(1,087,046

)

(1,169,788

)

NET CURRENT ASSETS

1,969,920

2,013,452

TOTAL ASSETS LESS CURRENT LIABILITIES

2,065,061

2,154,414

CREDITORS

Amounts falling due after more than one year

8

(1,848,000

)

(1,960,000

)

PROVISIONS FOR LIABILITIES

(13,741

)

(25,475

)

NET ASSETS

203,320

168,939

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

203,220

168,839

203,320

168,939

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 September 2025 and were signed by:

L D Cox - Director

1.	GENERAL INFORMATION

SPRINGCARE (ALBRIGHTON) 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:

08124998

Registered office:

Nicholson House

Shakespeare Way

Whitchurch Business Park

Whitchurch

Shropshire

SY13 1LJ

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.

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

PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

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.

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 from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

TANGIBLE 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% straight line

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.

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 cashgenerating 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.

INVESTMENTS IN SUBSIDIARIES

Investments in subsidiary undertakings are recognised at cost.

STOCKS

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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 Statement of Income and Retained Earnings, 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.

OPERATING LEASES

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

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.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

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 42 (2023 - 44 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 January 2024

441,542

Additions

13,267

At 31 December 2024

454,809

DEPRECIATION

At 1 January 2024

335,552

Charge for year

59,088

At 31 December 2024

394,640

NET BOOK VALUE

At 31 December 2024

60,169

At 31 December 2023

105,990

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

and 31 December 2024

34,972

NET BOOK VALUE

At 31 December 2024

34,972

At 31 December 2023

34,972

The company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Albrighton Properties Ltd

Registered office: Nicholson House, Shakespeare Way, Whitchurch Business Park, Whitchurch, Shropshire, SY13 1LJ

Nature of business: property rental company

%

Class of shares:

holding

Ordinary

100.00

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

(Unaudited)

£

£

Trade debtors

211,016

169,793

Amounts owed by group undertakings

1,390,394

1,536,496

Other debtors

150

-

Amounts due from connected

companies

1,395,571

1,335,571

Called up share capital not paid

49

49

Prepayments and accrued income

22,231

24,070

3,019,411

3,065,979

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

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

(Unaudited)

£

£

Bank loans and overdrafts

112,000

162,876

Trade creditors

53,282

53,345

Tax

654

44,862

Social security and other taxes

18,989

19,474

Other creditors

-

2,446

Amounts due to connected

companies

606,821

629,509

Directors' current accounts

31,089

31,089

Accruals and deferred income

264,211

226,187

1,087,046

1,169,788

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

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

(Unaudited)

£

£

Bank loans

112,000

112,000

Bank loans - 2-5 years

1,736,000

1,848,000

1,848,000

1,960,000

There is a fixed and floating charge dated 27 May 2022 over the company's assets, in favour of Clydesdale Bank PLC.

The bank loan is repayable over a period of 5 years by regular instalments and is accruing interest at a rate of 2.75% above base rate.

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

The Report of the Auditors was unqualified.

Michelle Coates (Senior Statutory Auditor)

for and on behalf of Sumer Auditco Limited

10.	OTHER FINANCIAL COMMITMENTS

There are cross guarantees between the following companies: Oxtoncare Limited, Springcare (Davenham) Limited, Springcare (Macclesfield) Limited, Albrighton properties Limited, Springcare No3, Springcare (Bulwell) Limited, Springcare (Ilkeston) Limited, Springcare (Eastwood) Limited and Springcare (Aspley) Limited totalling: £17,407,105 (2023: £6,771,421).

The amount of other commitments, guarantees and contingencies is £21,017 (2023: £7,814).

11.	EVENTS AFTER THE END OF THE REPORTING PERIOD

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