REGISTERED NUMBER: 08202821 (England and Wales)

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

SPRINGCARE NO.4 LIMITED

Page

Statement of Financial Position

1

Notes to the Financial Statements

2

to

6

FIXED ASSETS

Investments

4

1,000

-

CURRENT ASSETS

Debtors

5

7,263,214

1

CREDITORS

Amounts falling due within one year

6

(379,913

)

-

NET CURRENT ASSETS

6,883,301

1

TOTAL ASSETS LESS CURRENT LIABILITIES

6,884,301

1

CREDITORS

Amounts falling due after more than one year

7

(6,955,141

)

-

NET (LIABILITIES)/ASSETS

(70,840

)

1

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(70,841

)

-

(70,840

)

1

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.	STATUTORY INFORMATION

Springcare No.4 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:

08202821

Registered office:

Nicholson House

Shakespeare Way

Whitchurch

SY13 1LJ

The principal activity of the company is that of a holding company.

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 have been prepared in sterling, which is the functional currency of the entity.

GOING CONCERN

The Springcare Investment 1 Limited Group 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 Group are stable and are improving in the new financial year, which encourages us to believe that our forecasts are achievable.

While the Group has access to financial support from fellow Group companies, and is reliant on external lending, the forecasts prepared indicate that the Group is able to maintain operations from its own cash generation. For this reason, the Director continues to adopt the going-concern basis in preparing the financial statements.

PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS

The financial statements contain information about Springcare No.4 Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

GOVERNMENT GRANTS

Government grants are recognised using the accrual model.

Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which is becomes receivable.

INVESTMENTS IN SUBSIDIARIES

Investments in subsidiary undertakings are recognised at cost.

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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

Additions

1,000

At 31 December 2024

1,000

NET BOOK VALUE

At 31 December 2024

1,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

(Unaudited)

£

£

Amounts owed by group undertakings

7,260,414

-

Other debtors

2,800

1

7,263,214

1

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

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

(Unaudited)

£

£

Bank loans and overdrafts

44,859

-

Amounts owed to connected companies

335,054

-

379,913

-

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

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

(Unaudited)

£

£

Bank loans - 1-2 years

186,140

-

Bank loans - 2-5 years

643,062

-

Bank loans payable more than

5 years by instalments

6,125,939

-

6,955,141

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans payable more than

5 years by instalments

6,125,939

-

6,125,939

-

There is a fixed and floating charge dated 30 September 2024 over the company's assets, in favour of Triodos Bank UK Limited.

8.	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

9.	OTHER FINANCIAL COMMITMENTS

There are cross guarantees between the following companies: Kingsview Homes Limited, Ash Paddock Homes Limited, Activecare Limited, Springcare (River Meadows) Limited, Springcare (Weston) Limited, Llithyia Holdings Limited, Springcare (Shawbury) Limited, Hinstock Manor Residential Home Limited and Springcare (Brockhampton) Limited totalling £10,645,202.

10.	RELATED PARTY DISCLOSURES

11.	POST BALANCE SHEET EVENTS

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

12.	ULTIMATE CONTROLLING PARTY

13.	GOING CONCERN

The Springcare Investment 1 Limited Group 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 Group are stable and are improving in the new financial year, which encourages us to believe that our forecasts are achievable.

While the Group has access to financial support from fellow Group companies, and is reliant on external lending, the forecasts prepared indicate that the Group is able to maintain operations from its own cash generation. For this reason, the Director continues to adopt the going-concern basis in preparing the financial statements.