ACCOUNTS - Final Accounts preparation

An analysis of turnover by class of business is as follows:

Ten-month period ended

31 December

Year ended

29 February

2024
(unaudited)

Financial Statements

Care IT Services Limited

For the ten-month period ended 31 December 2024

Registered number: 03516193


Care IT Services Limited

Company information

Directors	Edward John Dillon (appointed 8 November 2024)
	John-Henry Fredrik Liepe (appointed 31 May 2024)
	David Michael Woodworth (resigned 8 November 2024)
	Peter Christopher Care (resigned 31 May 2024)
	Kathryn Jane Care (resigned 23 May 2024)


Company secretary	Oakwood Corporate Secretary Limited(appointed 31 May 2024, resigned 28 February 2025)
	Kathryn Jane Care (resigned 23 May 2024)

Registered number	03516193


Registered office	Suite 8
	Third Floor
	207 Regent Street
	London
	W1B 3HH


Independent auditor	Grant Thornton
	Chartered Accountants & Statutory Auditors
	13-18 City Quay
	Dublin 2


Care IT Services Limited

Contents

	Page
Directors' report	1 - 2
Directors' responsibilities statement	3
Independent auditor's report	4 - 7
Statement of comprehensive income	9
Statement of financial position	10 - 11
Statement of changes in equity	12
Notes to the financial statements	13 - 23


Care IT Services Limited

Directors' report

For the ten-month period ended 31 December 2024

The directors present their report and the financial statements for the ten-month period ended 31 December 2024.
The comparative figures presented are for the year ended 29 February 2024.

Principal activity

The principal activities of the Company throughout the year were the development and sale of computer software, maintenance, training and consultancy services.

Business review

During the period, the Company had a net loss of £17,548 (year ended 29 February 2024: profit £408,780) and net assets of £1,027,456 (year ended 29 February 2024: £1,109,004).

Results and dividends

The loss for the ten-month period, after taxation, amounted to £17,548 (year ended 29 February 2024: profit £408,780).

During the year, the directors declared and paid dividends amounting to £64,000 (year ended 29 February 2024: £62,000).

Directors

The directors who served during the ten-month period were:

Edward John Dillon (appointed 8 November 2024)

John-Henry Fredrik Liepe (appointed 31 May 2024)

David Michael Woodworth (resigned 8 November 2024)

Peter Christopher Care (resigned 31 May 2024)

Kathryn Jane Care (resigned 23 May 2024)

Future developments

The directors do not envisage any substantial changes to the nature of the business in the foreseeable future.

Research and development activities

The Company did not engage in any research and development activities during the period (year ended 29 February 2024: £Nil).

Disclosure of information to auditor

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:

∙so far as the director is aware, there is no relevant audit information of which the Company's auditor is unaware, and

∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditor is aware of that information.

Post balance sheet events

There have been no significant events affecting the Company since the period end.

Page 1


Care IT Services Limited

Director's report (continued)

For the ten-month period ended 31 December 2024

Auditor

The auditor, Grant Thornton, was appointed during the period and will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

Small companies note

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board and signed on its behalf.

................................................

John-Henry Fredrik Liepe

Director

Date: 30 September 2025

Page 2


Care IT Services Limited

Directors' responsibilities statement

For the ten-month period ended 31 December 2024

The directors are responsible for preparing the Directors' report 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 of the profit or loss of the Company for that period.

In preparing these financial statements, the directors are required to:

∙select suitable accounting policies for the Company's financial statements and then apply them consistently;

∙make judgments and accounting estimates that are reasonable and prudent;

∙state whether applicable UK 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 transactions and disclose with reasonable accuracy at any time the financial position of the Company and to 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

For and on behalf of the board:

................................................
John-Henry Fredrik Liepe

Director

Date: 30 September 2025

Page 3

Independent auditor's report to the members of Care IT Services Limited

Opinion

We have audited the financial statements of Care IT Services Limited (the "Company"), which comprise the Statement of comprehensive income, the Statement of financial position, the Statement of changes in equity for the ten-month period ended 31 December 2024, and the related notes to the financial statements, including a summary of significant accounting policies.

The financial reporting framework that has been applied in the 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, Care IT Services Limited's financial statements:

∙give a true and fair view in accordance with United Kingdom Generally Accepted Accounting Practice of the assets, liabilities and financial position of the Company as at 31 December 2024 and of its financial performance for the ten-month period then ended; 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 'Responsibilities of the auditor for the audit of the financial statements' section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, namely the FRC's Ethical Standard and the ethical pronouncements established by Chartered Accountants Ireland, applied as determined to be appropriate in the circumstances of the entity. 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 Company's ability to continue as a going concern for a period of at least twelve months from the date 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 matter

For the financial year ended 29 February 2024, the Company was not required to obtain audited financial statements as the Company qualified as small under Company law and availed of the small company audit exemption. Therefore, the corresponding figures have not been audited.

Page 4

Independent auditor's report to the members of Care IT Services Limited (continued)

Other information

Other information comprises the information included in the Annual Report, other than the financial statements and our Auditor's report thereon, including the Directors' report . The directors are responsible for the other information. Our opinion on the financial statements does not cover the 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 in the financial statements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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 Directors' report for the ten-month period for which the financial statements are prepared is consistent with the financial statements, and

∙the Directors' report has 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 company and its environment we have obtained in the course of the audit, we have not identified material misstatements in the Directors' report .

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

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

∙the 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; or

∙the directors were not entitled to take advantage of the small companies' exemptions from the requirement to prepare a strategic report or in preparing the Directors' report.

Page 5

Independent auditor's report to the members of Care IT Services Limited (continued)

Responsibilities of management and those charged with governance for the financial statements

Management is responsible for the preparation of the financial statements which give a true and fair view in accordance with United Kingdom Generally Accepted Accounting Practice, including FRS102 and for such internal control as the directors determine is 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, management is responsible for assessing the 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 management either intend to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

Those charged with governance are responsible for overseeing the Company's financial reporting process.

Responsibilities of the auditor for the audit of the financial statements

The objectives of an auditor 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 an Auditor's report that includes their 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.

A further description of an auditor's 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 auditor's report.

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatement in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with ISAs (UK).

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:

Based on our understanding of the Company and industry, we identified that the principal risks of non-compliance with laws and regulations related to compliance with Employment laws, Data Protection laws, Health and Safety Regulation, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as UK tax legislation and company law. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to manipulate financial performance and management bias through judgements and assumptions in significant accounting estimates, in particular in relation to significant one-off or unusual transactions.

Page 6

Independent auditor's report to the members of Care IT Services Limited (continued)

Responsibilities of the auditor for the audit of the financial statements (continued)

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud (continued)

We apply professional scepticism through the audit to consider potential deliberate omission or concealment of significant transactions, or incomplete/inaccurate disclosures in the financial statements.
In response to these principal risks, our audit procedures included but were not limited to:

∙inquiries of management and board on the policies and procedures in place regarding compliance with laws and

∙regulations, including consideration of known or suspected instances of non-compliance and whether they have knowledge of any actual, suspected or alleged fraud;

∙inspection of the legal correspondence and review of minutes of board meetings during the year to corroborate inquiries made;

∙gaining an understanding of the internal controls established to mitigate risk related to fraud;

∙discussion amongst the engagement team in relation to the identified laws and regulations and regarding the risk of fraud, and remaining alert to any indications of non-compliance or opportunities for fraudulent manipulation of financial statements throughout the audit;

∙identifying and testing journal entries to address the risk of inappropriate journals and management override of controls;

∙designing audit procedures to incorporate unpredictability around the nature, timing or extent of our testing;

∙challenging assumptions and judgements made by management in their significant accounting estimates, including estimating allowance for impairment of debtors and amounts due by group undertakings; and

∙review of the financial statements disclosures to underlying supporting documentation and inquiries of management.

The primary responsibility for the prevention and detection of irregularities including fraud rests with those charged with governance and management. As with any audit, there remains a risk of non-detection or irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or override of internal controls.

The purpose of our audit work and to whom we owe our responsibilities

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 an auditor’s report 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.

Page 7

Independent auditor's report to the members of Care IT Services Limited (continued)

Tracey Sullivan (Senior statutory auditor)

for and on behalf of

Grant Thornton

Chartered Accountants

& Statutory Auditors

Dublin 2
Date: 30 September 2025

Page 8


Care IT Services Limited

Statement of comprehensive income

For the ten-month period ended 31 December 2024

	Ten-month period ended 31 December	Year ended 29 February
	2024	2024 (unaudited)
Note	£	£


Turnover	4	1,480,254	1,581,017
Cost of sales		(500,019)	(340,181)
Gross profit		980,235	1,240,836
Administrative expenses		(510,241)	(721,414)
Exceptional administrative expenses	9	(490,273)	-
Operating (loss)/profit	5	(20,279)	519,422
Interest receivable and similar income		7,292	24,541
(Loss)/profit before tax		(12,987)	543,963
Tax on (loss)/profit	8	(4,561)	(135,183)
(Loss)/profit for the ten-month period/year		(17,548)	408,780

All amounts relate to continuing operations.
There was no other comprehensive income for the ten-month period ended 31 December 2024 (year ended 29 February 2024: £NIL).

The notes on pages 13 to 23 form part of these financial statements.

Page 9


Care IT Services Limited Registered number:03516193

Statement of financial position

As at 31 December 2024

	31 December	29 February (unaudited)
	2024	2024
Note	£	£

Fixed assets
Tangible assets	10		2,191		20,489
			2,191		20,489
Current assets
Debtors: amounts falling due within one year	11	1,949,208		314,506
Cash at bank and in hand	12	154,807		1,526,634
		2,104,015		1,841,140
Current liabilities
Creditors: amounts falling due within one year	13	(1,077,603)		(752,625)
Net current assets			1,026,412		1,088,515
Total assets less current liabilities			1,028,603		1,109,004
Creditors: amounts falling due after more than one year	14		(599)		-
Provisions for liabilities
Deferred tax	15	(548)		-
			(548)		-
Net assets			1,027,456		1,109,004

Capital and reserves
Called up share capital	16	2	2
Profit and loss account		1,027,454	1,109,002
Shareholders' funds		1,027,456	1,109,004

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

John-Henry Fredrik Liepe

Director

Date: 30 September 2025

The notes on pages 13 to 23 form part of these financial statements.

Page 10


Care IT Services Limited Registered number:03516193

Statement of financial position (CONTINUED)

As at 31 December 2024

Page 11


Care IT Services Limited

Statement of changes in equity

For the ten-month period ended 31 December 2024

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 March 2024	2	1,109,002	1,109,004
Comprehensive income for the ten-month period
Loss for the ten-month period	-	(17,548)	(17,548)
Dividends paid	-	(64,000)	(64,000)
At 31 December 2024	2	1,027,454	1,027,456

Statement of changes in equity

For the year ended 29 February 2024

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 March 2023	2	762,222	762,224
Comprehensive income for the year
Profit for the year	-	408,780	408,780
Dividends paid	-	(62,000)	(62,000)
At 29 February 2024	2	1,109,002	1,109,004

The notes on pages 13 to 23 form part of these financial statements.

Page 12


Care IT Services Limited

Notes to the financial statements

For the ten-month period ended 31 December 2024

1.	General information

Care IT Services Limited is a company limited by shares which is incorporated in the United Kingdom registered under the Company number 03516193 with a registered office at 207 Regent Street, Suite 8, Third Floor, London, W1B 3HH. The principal activities of the Company development and sale of computer software, maintenance, training and consultancy services.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

These financial statements cover the ten-month period ended 31 December 2024. The comparative figures presented are for the year ended 29 February 2024.
Certain comparative figures have been reclassified to conform to the current year presentation.

The following principal accounting policies have been applied:

2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP (£).

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'administrative expenses'.

Page 13


Care IT Services Limited

Notes to the financial statements

For the ten-month period ended 31 December 2024

2.Accounting policies (continued)

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 14


Care IT Services Limited

Notes to the financial statements

For the ten-month period ended 31 December 2024

2.Accounting policies (continued)

2.6

Current and deferred taxation

The tax expense for the ten-month period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

2.7

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 15


Care IT Services Limited

Notes to the financial statements

For the ten-month period ended 31 December 2024

2.Accounting policies (continued)

2.8

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

				Motor vehicles	-	25%
				Computer equipment	-	25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, inclusive of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.10

Cash

Cash is represented by deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, inclusive of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 16


Care IT Services Limited

Notes to the financial statements

For the ten-month period ended 31 December 2024

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

When preparing the financial statements, management undertakes a number of judgments, estimates and assumptions about recognition and measurement of assets, liabilities, income and expenses. Estimates and judgments are continually evaluated based on historical experience and other factors, including expectations of future events that are believed to be reasonable under circumstances. In the future, actual experience may differ from these estimates and assumptions. The estimates and assumptions that have the most significant effect on the financial statements are discussed below.

Recoverability of trade debtors and amounts due by group undertakings

Objective evidence that financial assets are impaired can include default or delinquency by a debtor, restructuring of an amount due to the Company on terms that the Company would not consider otherwise, or indications that a debtor or issuer will enter bankruptcy.

The Company considers evidence for impairment of trade debtors and amounts owed by group undertakings at both a specific and collective level. All individually significant receivables are assessed for specific impairment. All individually significant receivables found not to be specifically impaired, together with receivables that are not individually significant are collectively assessed for impairment by grouping together receivables with similar risk characteristics.

Subscription revenue	1,473,337	1,581,017
Intercompany sales	6,917	-
	1,480,254	1,581,017

The directors have not provided an analysis of turnover by geographical territory as they believe that this would be prejudicial to the interests of the Company.

Page 17


Care IT Services Limited

Notes to the financial statements

For the ten-month period ended 31 December 2024

Exchange differences	(21,269)	12,843
Depreciation	354	7,990
Operating lease rentals	625	1,437

Fees payable to the Company's auditor for the audit of the Company's financial statements

17,302

Employees

The average monthly number of employees, including directors, during the ten-month period was 4 (2024 - 6).
Directors remuneration and key management personnel compensation during the ten-month period amounted to £134,922 (year ended 29 February 2024: £155,523).

Page 18


Care IT Services Limited

Notes to the financial statements

For the ten-month period ended 31 December 2024

Corporation tax
Current tax on profits for the ten-month period/year	4,013	135,183

Origination and reversal of timing differences

548


	Tax on (loss)/profit	4,561	135,183

(Loss)/profit on ordinary activities before tax

(12,987)

543,963

(Loss)/profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%)	(3,247)	135,991
Effects of:
Expenses not deductible for tax purposes	9,886	-
Adjustments to tax charge in respect of prior periods	(2,040)	-
Non-taxable income	(586)	(808)
Deferred tax movement	548	-
Total tax charge for the ten-month period/year	4,561	135,183

Factors that may affect future tax charges

There were no factors that may affect future tax charges.

Page 19


Care IT Services Limited

Notes to the financial statements

For the ten-month period ended 31 December 2024

Restructuring costs

490,273

10.	Tangible fixed assets

	Motor vehicles	Computer equipment	Total
	£	£	£
Cost or valuation
At 1 March 2024	47,990	14,887	62,877
Disposals	(47,990)	(1,198)	(49,188)
At 31 December 2024	-	13,689	13,689
Depreciation
At 1 March 2024	30,046	12,342	42,388
Charge for the ten-month period	-	354	354
Disposals	(30,046)	(1,198)	(31,244)
At 31 December 2024	-	11,498	11,498
Net book value
At 31 December 2024	-	2,191	2,191
At 29 February 2024	17,944	2,545	20,489

Page 20


Care IT Services Limited

Notes to the financial statements

For the ten-month period ended 31 December 2024

11.

Debtors

					31 December	29 February
					2024	2024 (unaudited)
					£	£


Trade debtors	102,170	299,076
Amounts owed by group undertakings	1,714,020	-
Prepayments and accrued income	132,578	15,430
VAT recoverable	440	-
	1,949,208	314,506

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

	Cash at bank	154,807	1,526,634

Trade creditors	1,020	5,866
Amounts owed to group undertakings	472,233	-
Corporation tax	6,053	25,207
Other taxation and social security	-	18,644
Accruals	17,302	2,129
Deferred income	580,995	700,779
	1,077,603	752,625

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

Page 21


Care IT Services Limited

Notes to the financial statements

For the ten-month period ended 31 December 2024

	Deferred income	599	-

15.	Deferred taxation

		2024
		£

	Charged to profit or loss	(548)
	At end of year	(548)

Fixed asset timing differences

(548)

Allotted, called up and fully paid

2 (29 February 2024 - 2) Ordinary shares of £1.00 each	2	2

The shares carry full rights with regards to voting, dividends, and capital contribution. They do not confer any rights of redemption (other than those conferred in default by the Companies Act of 2006).

17.	Related party transactions
	As a wholly owned subsidiary undertaking of an ultimate parent undertaking whose financial statements are publicly available, the Company has taken advantage of the exemption available under FRS 102 Section 33, Paragraph 33.1A not to disclose transactions with wholly owned members of the group.

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Care IT Services Limited

Notes to the financial statements

For the ten-month period ended 31 December 2024

18.	Post balance sheet events

There have been no significant events affecting the Company since the period end.

19.	Controlling party

The immediate parent company is Insightsoftware UK Limited, a company incorporated and registered in the UK.

The directors deem that there is no ultimate controlling party to the Company as the ultimate shareholders of the group do not exercise control over the Company.

The results are consolidated into the financial statements of GS Intermediate Inc., an intermediate parent company, the smallest and largest group company to prepare consolidated accounts. They are available from Corporation Trust Center, 1209 Orange St., Wilmington, New Castle, DE, 19801, USA.

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