REGISTERED NUMBER: 15063122 (England and Wales)

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

SPRINGCARE NO.3 LIMITED

Page

Statement of Financial Position

1

Notes to the Financial Statements

2

to

5

FIXED ASSETS

Investments

4

1,300

-

CURRENT ASSETS

Debtors

5

11,450,809

1,000

Cash at bank

4,745

-

11,455,554

1,000

CREDITORS

Amounts falling due within one year

6

(1,129,068

)

-

NET CURRENT ASSETS

10,326,486

1,000

TOTAL ASSETS LESS CURRENT LIABILITIES

10,327,786

1,000

CREDITORS

Amounts falling due after more than one year

7

(10,421,056

)

-

NET (LIABILITIES)/ASSETS

(93,270

)

1,000

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

(94,270

)

-

(93,270

)

1,000

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 26 September 2025 and were signed by:

L D Cox - Director

1.	STATUTORY INFORMATION

Springcare No.3 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:

15063122

Registered office:

Nicholson House

Shakespeare Way

Whitchurch

Shropshire

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.3 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.

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 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.

3.	EMPLOYEES AND DIRECTORS

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

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

and 31 December 2024

1,300

NET BOOK VALUE

At 31 December 2024

1,300

At 31 December 2023

1,300

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

(Unaudited)

£

£

Amounts owed by group undertakings

11,353,042

-

Amounts owed by connected companies

97,767

-

Called up share capital not paid

-

1,000

11,450,809

1,000

Amounts owed by group undertakings and connected companies 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

578,944

-

Amounts owed to connected companies

550,124

-

1,129,068

-

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

578,944

-

Bank loans - 2-5 years

9,842,112

-

10,421,056

-

There is a fixed and floating charge dated 15 February 2024 over the company's assets. in favour of Clydesdale Bank PLC.

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: Oxtoncare Limited, Springcare (Davenham) Limited, Springcare (Macclesfield) Limited, Albrighton Properties Limited, Springcare (Albrighton) Limited, Springcare (Bulwell) Limited, Springcare (Ilkeston) Limited, Springcare (Eastwood) Limited and Springcare (Aspley) Limited totalling £8,367,105.

10.	POST BALANCE SHEET EVENTS

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

11.	ULTIMATE CONTROLLING PARTY

12.	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.