REGISTERED NUMBER: 15236490 (England and Wales)

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

SPRINGCARE (SHAWBURY) LIMITED

Page

Statement of Financial Position

1

to

2

Notes to the Financial Statements

3

to

7

FIXED ASSETS

Tangible assets

4

1,617,413

202,385

Investments

5

100

-

1,617,513

202,385

CURRENT ASSETS

Debtors

6

934,340

-

CREDITORS

Amounts falling due within one year

7

(2,608,765

)

(202,285

)

NET CURRENT LIABILITIES

(1,674,425

)

(202,285

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(56,912

)

100

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(57,012

)

-

(56,912

)

100

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 28 September 2025 and were signed by:

L D Cox - Director

1.	STATUTORY INFORMATION

Springcare (Shawbury) 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:

15236490

Registered office:

Nicholson House

Shakespeare Way

Whitchurch

Shropshire

SY13 1LJ

The principal activity of the company is preparing to trade as a provider 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.

GOING CONCERN

The company is a connected company of the Springcare Limited Group because they are both under common control of the director Mr L D Cox and his close family. The Springcare Limited group provide financial support to the company.

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.

TANGIBLE FIXED ASSETS

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

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.

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 NIL (2023 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

COST

At 1 January 2024

202,385

-

202,385

Additions

1,300,363

119,650

1,420,013

At 31 December 2024

1,502,748

119,650

1,622,398

DEPRECIATION

Charge for year

-

4,985

4,985

At 31 December 2024

-

4,985

4,985

NET BOOK VALUE

At 31 December 2024

1,502,748

114,665

1,617,413

At 31 December 2023

202,385

-

202,385

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

Additions

100

At 31 December 2024

100

NET BOOK VALUE

At 31 December 2024

100

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

9,896

-

Amounts owed by group undertakings

922,184

-

Deferred tax asset

Accelerated capital allowances

2,260

-

934,340

-

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

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Amounts owed to group undertakings

2,587,596

202,285

Amounts owed to connected companies

7,486

-

Accruals and deferred income

13,683

-

2,608,765

202,285

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

8.	SECURED DEBTS

There is a fixed and floating charge dated 3 July 2024 over the assets of the company in favour of Triodos Bank UK Limited.

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: Kingsview Homes Limited, Ash Paddock Homes Limited, Activecare Limited, Springcare (River Meadows) Limited, Springcare (Weston) Limited, Llithyia Holdings Limited, Hinstock Manor Residential Home Limited, Springcare No4 Limited and Springcare (Brockhampton) Limited totalling £17,645,202.

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

12.	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.

13.	ULTIMATE CONTROLLING PARTY

The parent company is Llithyia Holdings Ltd who owns all of the issued share capital of the company.

Llithyia Holdings Ltd is 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 theaccounts of the company. A copy of the financial statements can be obtained from the registered office being; Nicholson House, Shakespeare Way, Whitchurch, England, SY13 1LJ.

14.	GOING CONCERN

The company is a connected company of the Springcare Limited Group because they are both under common control of the director Mr L D Cox and his close family. The Springcare Limited group provide financial support to the company.

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.