REGISTERED NUMBER: SC522040 (Scotland)

Group Strategic Report,

Report of the Directors and

Consolidated Financial Statements

for the Year Ended

31 December 2024

for

ENHANCE HEALTHCARE HOLDINGS LTD

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

5

Report of the Independent Auditors

8

Consolidated Income Statement

12

Consolidated Other Comprehensive Income

13

Consolidated Balance Sheet

14

Company Balance Sheet

16

Consolidated Statement of Changes in Equity

18

Company Statement of Changes in Equity

19

Consolidated Cash Flow Statement

20

Notes to the Consolidated Cash Flow Statement

21

Notes to the Consolidated Financial Statements

23

DIRECTORS:

P G Mcniven

M Singh

A J Jamieson

REGISTERED OFFICE:

Barncluith Business Centre

Townhead Street

Hamilton

ML3 7DP

REGISTERED NUMBER:

SC522040 (Scotland)

AUDITORS:

WDM Associates (Statutory Auditors)

Oakfield House

378 Brandon Street

Motherwell

ML1 1XA

The directors present their strategic report of the company and the group for the year ended 31 December 2024.

REVIEW OF BUSINESS

Enhance Healthcare Holdings Limited is the ultimate parent company of the consolidated Enhance Care Homes group which includes the Ayrshire Care Homes Group acquired on 28 December 2023.

The group provides specialist health and social care to adults throughout central Scotland.

At 31 December 2024 the group operated 12 homes (2023 : 9 homes) with 526 registered beds.

The results for the year ended 31 December 2024 show a turnover of £32.7million (2023 - £20.3million) which reflects an average occupancy rate of 87%

Operating profit for the year amounted to £2.87million (2023: £2.05million)

This is the first full year of results for the group following the acquisition of the Ayrshire Care Homes Group on 28 December 2023.The new homes have integrated well into the group with the full benefits starting to accrue during the second half of 2024.

PRINCIPAL RISKS AND UNCERTAINTIES

Funding

The majority of the groups income comes from local authorities. Continuing funding pressures on these authorities may impact on their ability to continue increasing the rate of funding to match increasing costs.

The group continues to maintain excellent relationships with local authority funders.

Staff

In the care sector there is a shortage of motivated, trained staff. Continual efforts are made to retain, motivate and reward staff across the group to ensure staff retention and quality

Care and Regulatory Ratings

Providing quality care and achieving the best regulatory ratings are crucial to retaining and attracting individuals requiring care. The group is committed to providing quality care.

Liquidity Risk

The group funded the Ayrshire Care Homes group acquisition by borrowing from TC Loans Limited. At 31 December 2024 £22million was owed to TC Loans with interest paid during the year of £2.35million on the sums outstanding during the year.In April 2025 the group rebanked the loan facility with Barclays. This will result in annual interest charges being reduced by £1million on sums outstanding.

SECTION 172(1) STATEMENT

The Board retains responsibility for all final decisions and continually reviews governance process to ensure they remain fit for purpose.

Under section 172 of the Companies Act, the directors have a duty to promote the success of the company for the benefit of the members as a whole and, in doing so, have regard to wider stakeholder interests as follows:

a) The likely consequences of any decision in the long term

b) The interests of the group's employees

c) The need to maintain the company's relationships with suppliers, residents and others

d) The impact of the company's operations on the community and the environment

e) Maintaining a reputation for high standards of business conduct

f) The need to act fairly as between members of the company

Below the directors explain how they:

- consider long term decision making

- Engage with regulators, suppliers, residents and employees

- Have regard to employee interests, need to maintain the company's business relationships with suppliers, residents and others

Long Term Decision Making

The board has put in place a structured governance model, with scheduled Board meetings and clear documentation and authority levels to control its decision-making process. Detailed budgets and forecasts are prepared to enable the Board to track performance and ensure that it is as expected, or that mitigation steps are taken to deliver performance in line with expectations. The board operates within this structure, with the aim of promoting the success of the company and delivering long term shareholder value.

ENGAGEMENT WITH REGULATORS

The group's care homes are regulated by the Care Inspectorate (CI). CI perform regulatory visits of the care homes. Ratings and the detailed findings are reviewed with action plans put in place as required.

ENGAGEMENT WITH SUPPLIERS AND RESIDENTS

The group is committed to providing high quality care to residents and regularly obtains feedback from residents and their relatives to ensure issues raised are addressed and our care standards are continually at a high level. Honest feedback is encouraged with full and open reviews carried out.

The group's policy is to pay its suppliers in accordance with the payment terms agreed and operates payment runs on a regular basis.

ENGAGEMENT WITH EMPLOYEES

The group places great emphasis on having a highly skilled and well motivated workforce and recognises that they form a critical factor in the successful operation of the homes and future business development. A key part of this is to maximise staff retention which generates benefits in both the quality of care delivery and business development. Employees have access to an assistance programme to provide support with personal issues

Occupational Health Services ensure that any health related risks at work are managed and that our employees are provided with a safe working environment at all times.

KEY PERFORMANCE INDICATORS

The board considers the key measures of performance to be:

- occupancy. Occupancy at each home is monitored on a weekly basis.

- Payroll costs. These are monitored on a weekly basis and compared with fee income.

- Staff retention. Staff turnover is closely monitored

- EBITDA. This is monitored monthly and compared with budgets on a site by site basis

- available cash is monitored at each month end

- Care Inspectorate grades.

GROUP STRATEGY AND FUTURE OUTLOOK

The group's strategy is to maintain operating in the care home sector. In May 25 an additional 7 homes were acquired from Thistle Healthcare. The focus will be on integrating these homes into the group while continuing to provide the highest quality care to our residents.

ON BEHALF OF THE BOARD:

A J Jamieson - Director

29 September 2025

The directors present their report with the financial statements of the company and the group for the year ended 31 December 2024.

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of the provision of specialist health and social care.

DIVIDENDS

Interim dividends per share were paid as follows:

A Ordinary £1 shares

17p

- 31 December 2024

B Ordinary £1 shares

1.6p

- 31 December 2024

The directors recommend that no final dividends be paid.

The total distribution of dividends for the year ended 31 December 2024 will be £ 201,225 .

RESEARCH AND DEVELOPMENT

The group does not carry out any research and development activities.

FUTURE DEVELOPMENTS

In May 2025 the group acquired a further 7 care homes. The company refinanced its debt to Barclays which will mean debt interest costs reducing by circa £2million in 2025 on a like for like basis.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

P G Mcniven

M Singh

A J Jamieson

EMPLOYEES

The group has a recruitment policy to ensure that all applications for employment, including those made by disabled persons, are given full and fair consideration in light of the applicants aptitudes and abilities. There is also an equal opportunities policy to ensure that all employees are treated equally in terms of employment , training, career development and promotion. Where employees develop a disability during their employment, every effort is made to continue their employment and arrange for appropriate training as far as is reasonably practicable.

STREAMLINED ENERGY AND CARBON REPORTING

This section represents the energy usage and associated carbon dioxide emissions for the Enhance Healthcare Group's operations.This section has been prepared in compliance with the SECR Framework implemented in the Companies (Directors' Report) and Limited Liability Partnerships (Energy and Carbon Report) Regulations 2018

GHG Emissions

Units

2024

2023

Emissions from combustion of gas (Scope 1)

tCO2e

572

381

Emissions from purchased electricity (Scope 2)

tCO2e

243

199

Total Gross Emissions

tCO2e

815

580

Energy consumption used to calculate above

KWh

4,263,726

3,011,846

Intensity ratios have been calculated from the value of beds available and include all of the energy usage and emissions stated within the values reported above and in accordance with the methodology applied

Emissions

Units

2024

2023

Intensity Ratios

tCO2e/bed

1.55

1.70

Methodologies

The HM Government Environmental Reporting Guidelines including Streamlined Energy and Carbon Reporting guidance published in March 2019 has been followed. Carbon emissions have been calculated in accordance with the GHG Protocol Corporate Accounting and Reporting Standard using the DEFRA emissions factors

Energy efficiency

The group continues to focus on reducing energy consumption and carbon emissions. Energy usage is constantly monitored.During the year inefficient assets were replaced with energy efficient equipment (such as LED lighting). Over the past number of years significant investment has been made to improve efficiency and to reduce the Group's carbon footprint.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS

The auditors, WDM Associates (Statutory Auditors), will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

A J Jamieson - Director

29 September 2025

Opinion

We have audited the financial statements of Enhance Healthcare Holdings Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the group's and of the parent company affairs as at 31 December 2024 and of the group's loss for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page six, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

We identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the care sector;

We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, data protection, anti-bribery, employment, environmental and health and safety legislation;

We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

Identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

Making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;

Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and

To address the risk of fraud through management bias and override of controls, we:

Performed analytical procedures to identify any unusual or unexpected relationships;

Tested journal entries to identify unusual transactions;

Investigated the rationale behind significant or unusual transactions;

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

Agreeing financial statement disclosures to underlying supporting documentation;

Reading the minutes of meetings of those charged with governance;

Enquiring of management as to actual and potential litigation and claims;

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Graham Bonomy BAcc, CA (Senior Statutory Auditor)

for and on behalf of WDM Associates (Statutory Auditors)

Oakfield House

378 Brandon Street

Motherwell

ML1 1XA

29 September 2025

TURNOVER

3

32,722,496

20,354,105

Cost of sales

(20,406,476

)

(12,282,455

)

GROSS PROFIT

12,316,020

8,071,650

Administrative expenses

(9,463,837

)

(6,034,647

)

2,852,183

2,037,003

Other operating income

16,306

11,994

OPERATING PROFIT

5

2,868,489

2,048,997

Cost of integration

6

(178,632

)

-

2,689,857

2,048,997

Interest receivable and similar income

3,057

1,188

2,692,914

2,050,185

Gain/loss on revaluation of tangible assets

175,528

-

2,868,442

2,050,185

Interest payable and similar expenses

7

(2,513,962

)

(57,226

)

PROFIT BEFORE TAXATION

354,480

1,992,959

Tax on profit

8

(718,366

)

(433,600

)

(LOSS)/PROFIT FOR THE FINANCIAL YEAR

(363,886

)

1,559,359

(Loss)/profit attributable to:

Owners of the parent

(363,886

)

1,559,359

(LOSS)/PROFIT FOR THE YEAR

(363,886

)

1,559,359

OTHER COMPREHENSIVE INCOME

Property revaluation reversed

(346,886

)

-

Income tax relating to other comprehensive income

-

-

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

(346,886

)

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(710,772

)

1,559,359

Total comprehensive income attributable to:

Owners of the parent

(710,772

)

1,559,359

FIXED ASSETS

Intangible assets

11

4,103,855

4,705,906

Tangible assets

12

22,724,707

22,983,031

Investments

13

-

-

26,828,562

27,688,937

CURRENT ASSETS

Stocks

14

-

1,100

Debtors

15

4,526,865

3,827,339

Cash at bank and in hand

2,824,063

3,371,645

7,350,928

7,200,084

CREDITORS

Amounts falling due within one year

16

(8,485,174

)

(9,390,499

)

NET CURRENT LIABILITIES

(1,134,246

)

(2,190,415

)

TOTAL ASSETS LESS CURRENT LIABILITIES

25,694,316

25,498,522

CREDITORS

Amounts falling due after more than one year

17

(20,693,174

)

(20,313,696

)

PROVISIONS FOR LIABILITIES

21

(1,300,518

)

(572,205

)

NET ASSETS

3,700,624

4,612,621

CAPITAL AND RESERVES

Called up share capital

22

2,145,022

2,145,022

Fair value reserve

23

-

346,886

Retained earnings

23

1,555,602

2,120,713

SHAREHOLDERS' FUNDS

3,700,624

4,612,621

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

A J Jamieson - Director

P G Mcniven - Director

FIXED ASSETS

Intangible assets

11

-

-

Tangible assets

12

5,227,370

5,616,628

Investments

13

18,309,211

18,309,211

23,536,581

23,925,839

CURRENT ASSETS

Debtors

15

10,516,350

9,415,630

Cash at bank and in hand

80,952

19,584

10,597,302

9,435,214

CREDITORS

Amounts falling due within one year

16

(8,815,028

)

(8,511,608

)

NET CURRENT ASSETS

1,782,274

923,606

TOTAL ASSETS LESS CURRENT LIABILITIES

25,318,855

24,849,445

CREDITORS

Amounts falling due after more than one year

17

(20,649,058

)

(20,297,867

)

NET ASSETS

4,669,797

4,551,578

CAPITAL AND RESERVES

Called up share capital

22

2,145,022

2,145,022

Share premium

2,525,597

2,525,597

Retained earnings

(822

)

(119,041

)

SHAREHOLDERS' FUNDS

4,669,797

4,551,578

Company's profit/(loss) for the financial year

319,444

(135,414

)

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

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

P G Mcniven - Director

Called up

Fair

share

Retained

value

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 January 2023

2,145,022

426,454

481,786

3,053,262

Changes in equity

Profit for the year

-

1,559,359

-

1,559,359

Other comprehensive income

-

134,900

(134,900

)

-

Total comprehensive income

-

1,694,259

(134,900

)

1,559,359

Balance at 31 December 2023

2,145,022

2,120,713

346,886

4,612,621

Changes in equity

Deficit for the year

-

(363,886

)

-

(363,886

)

Other comprehensive income

-

-

(346,886

)

(346,886

)

Total comprehensive income

-

(363,886

)

(346,886

)

(710,772

)

Dividends

-

(201,225

)

-

(201,225

)

Balance at 31 December 2024

2,145,022

1,555,602

-

3,700,624

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Balance at 1 January 2023

2,145,022

16,373

2,525,597

4,686,992

Changes in equity

Total comprehensive income

-

(135,414

)

-

(135,414

)

Balance at 31 December 2023

2,145,022

(119,041

)

2,525,597

4,551,578

Changes in equity

Dividends

-

(201,225

)

-

(201,225

)

Total comprehensive income

-

319,444

-

319,444

Balance at 31 December 2024

2,145,022

(822

)

2,525,597

4,669,797

Cash flows from operating activities

Cash generated from operations

1

3,060,398

5,687,084

Interest paid

(2,507,439

)

(55,053

)

Interest element of hire purchase and finance lease rental payments paid

(6,523

)

(2,173

)

Tax paid

(61,153

)

(507,559

)

Net cash from operating activities

485,283

5,122,299

Cash flows from investing activities

Purchase of intangible fixed assets

-

(4,893,779

)

Purchase of tangible fixed assets

(1,572,969

)

(7,394,084

)

Sale of tangible fixed assets

275,739

-

Net assets on acquisition

-

(5,613,615

)

3rd party debt repaid

-

(8,898,831

)

Interest received

3,057

1,188

Net cash from investing activities

(1,294,173

)

(26,799,121

)

Cash flows from financing activities

New loans in year

2,005,111

20,000,000

Loan repayments in year

-

(1,425,487

)

Received from associated companies

267,381

-

Capital repayments in year

(224,740

)

358,218

Amount introduced by directors

327,541

2,291,346

Amount withdrawn by directors

(1,912,760

)

(931,439

)

Equity dividends paid

(201,225

)

-

Net cash from financing activities

261,308

20,292,638

Decrease in cash and cash equivalents

(547,582

)

(1,384,184

)

Cash and cash equivalents at beginning of year

2

3,371,645

4,755,829

Cash and cash equivalents at end of year

2

2,824,063

3,371,645

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2024

2023

£

£

Profit before taxation

354,480

1,992,959

Depreciation charges

1,932,949

669,424

Loss on disposal of fixed assets

53,298

-

Gain on revaluation of fixed assets

(175,528

)

-

Government grants

-

(1,590

)

Finance costs

2,513,962

57,226

Finance income

(3,057

)

(1,188

)

4,676,104

2,716,831

Decrease in stocks

1,100

-

(Increase)/decrease in trade and other debtors

(916,253

)

304,375

(Decrease)/increase in trade and other creditors

(700,553

)

2,665,878

Cash generated from operations

3,060,398

5,687,084

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2024

31.12.24

1.1.24

£

£

Cash and cash equivalents

2,824,063

3,371,645

Year ended 31 December 2023

31.12.23

1.1.23

£

£

Cash and cash equivalents

3,371,645

4,755,829