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REGISTERED NUMBER: 05616585 (England and Wales)

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

H CARE LIMITED

H CARE LIMITED (REGISTERED NUMBER: 05616585)

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page |

Company Information | 1 |

Group Strategic Report | 2 |

Report of the Directors | 4 |

Directors' Responsibilities Statement | 7 |

Report of the Independent Auditors | 8 |

Consolidated Income Statement | 12 |

Consolidated Other Comprehensive Income | 13 |

Consolidated Balance Sheet | 14 |

Company Balance Sheet | 15 |

Consolidated Statement of Changes in Equity | 16 |

Company Statement of Changes in Equity | 17 |

Consolidated Cash Flow Statement | 18 |

Notes to the Consolidated Cash Flow Statement | 19 |

Notes to the Consolidated Financial Statements | 20 |

H CARE LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 31 MARCH 2025

| DIRECTORS: | P A de Savary

| A M de Savary

| A F Rosenbach

| J Hurley

| K D Janes

| M A Quantock Shuldham

| REGISTERED OFFICE: | 55 Loudoun Road

| St John's Wood

| London

| NW8 0DL

| REGISTERED NUMBER: | 05616585 (England and Wales)

| AUDITORS: | MGR Weston Kay LLP

| Statutory Auditors

| 55 Loudoun Road

| St John's Wood

| London

| NW8 0DL

| BANKERS: | Virgin Money

| Jubilee House

| Gosforth

| Newcastle Upon Tyne

| NE3 4PL

H CARE LIMITED (REGISTERED NUMBER: 05616585)

GROUP STRATEGIC REPORT

FOR THE YEAR ENDED 31 MARCH 2025

The directors present their strategic report of the company and the group for the year ended 31 March 2025.

REVIEW OF BUSINESS

Turnover from operations increased by 11.5% (2024: 19%) in the year with the average occupancy of beds/ apartments at 98% (2024: 98%) in line with the previous year.

Staff wages increased by 13% reflecting the need to invest in increasing pay rates in response to a very competitive and shifting labour market and the increasing complexity of new placements. During the year the minimum hourly rate was increased to £12 per hour, 55p above the April 2024 National Minimum Wage. Throughout the period, the group continued its long-established strategy of using no external agency.

During the year:

- |  | a new Supported Living Service was opened providing an additional 4 Supported Living 1 bed apartments, increasing the total number of Supported Living beds to 8, in addition to the 87 Registered beds. |

- |  | the Group completed the final building work to the redevelopment programme extending existing beds into single occupancy apartments. |

- |  | turnover increased largely as a result of inflationary increases, and higher fees for more complex individuals. |

Our focus remains on delivering specialist services for individuals with the highest acuity needs who are difficult to place as few providers can meet their exacting needs and manage the increased risk. Operationally, these niche services rely on our unique data informed care model which underpins care delivery and influences the development of our operational structure with associated cost implications.

Direct costs for the group increased by 10% (2024: 15%) during the year reflecting the above. These exceptional increases peaked during the financial year as the company’s operational model becomes more complete.

PRINCIPAL RISKS AND UNCERTAINTIES

The directors consider the main risks faced by the business are:

- |  | Those relating to the provision of substandard care. The directors are aware of these risks and continue the development of its sophisticated care planning and recording systems to ensure that the group's care users receive the best quality care, while keeping fully up to date with current and proposed legislation and regulations, together with enhanced Business Continuity planning; |

- |  | The risks associated with the Care Quality Commission and its inadequacies articulated by the Secretary of State for Health & Social Care statement "It's clear to me the CQC is not fit for purpose.The group was subject to four inspections carried out under CQC's heavily criticised and discredited Single Assessment Framework. Due to inconsistencies in approach, in respect of one of the four inspections, a costly but necessary legal challenge was mounted and has been significantly successful. Whilst it remains ongoing, CQC have withdrawn the Inspection Report complained about. CQC is conducting an internal review of process and their report is awaited. It is not considered likely that any significant legal costs will be incurred in this regard. |

- |  | HFHC has applied for permission to proceed with two judicial review applications against the CQC in relation to HFHC's inclusion on a Personal Safety Register. CQC have agreed to remove HFHC from the register but the judicial review proceedings relate to the unlawful decision of the regulator to place HFHC on the PSR in the first place. There is a likelihood of further legal costs being incurred under this head either to pursue the Judicial Review Proceedings if permission is successfully secured, alternatively in relation to a claim for a contribution to HFHC's costs. |

H CARE LIMITED (REGISTERED NUMBER: 05616585)

GROUP STRATEGIC REPORT

FOR THE YEAR ENDED 31 MARCH 2025

DEVELOPMENT AND PERFORMANCE

The directors made the conscious decision to increase investment beyond what would normally be expected in recognition of market challenges, continuing the resetting of its services in line with the risks and opportunities it faced. They are encouraged by the actions taken in the face of continued inflation and the significant increases in the NLW, which have increased pressures on funding, as well as the persistently tight employment market which has shown some signs of improvement due to overseas recruitment. They believe that over an extended period, this strategy will secure the group’s sustainability.

Position of the group at the year end

In the opinion of the directors, the group is in a strong position at the year end with shareholders' fund at £14.5m.

KEY PERFORMANCE INDICATORS

The group's management continually monitors the performance of the homes regarding the quality of the care provision.

The group is rated Platinum by Investors in People, whilst 8 of its 11 residential services are rated Outstanding and 3 are rated Good by the Care Quality Commission.

In addition, it reviews monthly management information including management accounts, occupancy ratios and staffing requirements. The main key financial performance indicators are sales growth referred to above and the operating profit margin which was 5.3% (2024: 5.3%).

DUTY TO PROMOTE THE SUCCESS OF THE GROUP AND EMPLOYEE ENGAGEMENT

During the last year, the Directors have continued building on their strategy of supporting individuals with higher acuity and more complex needs. Underpinning the operations of its specialist services is "Zone Standard" its single-entry IT platform. Zone Standard provides real time data allowing the group to better manage risk, increasing information to care home managers, giving them greater insight. This is building sustainability both for the individuals we support and for the longer-term prospects for the group through the increasing effectiveness of data, management, staff teams and highly personalised environments, comprising the group’s ground breaking data informed care model.

The Directors have regard to relationships with employees, the individuals we support, their families and all key business stakeholders. The individuals are supported to engage with the wider community which in turn supports the local economies, enhancing the group’s overall social impact.

Relationships and engagement with staff are fostered through regular direct meetings and communications, with multiple channels for staff to engage with managers and the Directors. Regular updates ensure that staff are recognised and our values-based recruitment processes actively encourage progression opportunities, supported by ongoing training and mentoring.

ON BEHALF OF THE BOARD:

P A de Savary - Director

19 September 2025

H CARE LIMITED (REGISTERED NUMBER: 05616585)

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31 MARCH 2025

The directors present their report with the financial statements of the company and the group for the year ended 31 March 2025.

PRINCIPAL ACTIVITY

The principal activity of the group continued to be the provision and operation of care homes for adults 18+ with learning disabilities and high acuity needs, including autism, epilepsy, complex health and mental health, the provision of personnel and the provision of building services.

DIVIDENDS

The total distribution of dividends for the year ended 31 March 2025 will be £ 184,000 .

FUTURE DEVELOPMENTS

The rolling redevelopment programme which has transformed the 5 original homes into apartments has continued with completion in 2024/25.

Working with our associated company, Project 35 Ltd, we have continued our proof of concept supported living offering where after assessment, suitable Individuals move from our residential homes into a bespoke supported living service at Rectory Road. The Rectory Road service opened in July 2024, a step down, celebrating their journey and enabling it to continue towards greater independence and autonomy, and achieve good outcomes. This pathway service creates vacancies in our residential homes allowing higher acuity and more complex Individuals to move in.

In conjunction with our existing supported living home at the Laurels, this is also informing the next phase in the company’s development namely a rollout of approximately 100 additional supported living beds.

To further our pursuit of growth we plan to open a Rapid Service provision in FY26, a service required by Commissioners which will enable the Business to take in Individuals at short term notice, thus creating a pipeline of subsequent long-term placements elsewhere in the Group.

DIRECTORS

The directors set out in the table below have held office during the whole of the period from 1 April 2024 to the date of this report unless otherwise stated.

P A de Savary |

A M de Savary |

J Hurley |

K D Janes |

A F Rosenbach |

M A Quantock Shuldham

Other changes in directors holding office are as follows:

H J de Savary - resigned 18 September 2024

FINANCIAL INSTRUMENTS

The Group has a normal level of exposure to price, credit, liquidity and cash flow risk arising from trading activities which are only conducted in sterling. The Company does not enter into any lending transactions.

MARKET VALUE OF LAND AND BUILDINGS

The Group's care homes were valued at the year end by the Directors at the current market value.

H CARE LIMITED (REGISTERED NUMBER: 05616585)

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31 MARCH 2025

DISABLED PERSONS

Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the group continues, that reasonable adjustments are made and that the appropriate training is arranged. It is the policy of the group that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees

EMPLOYEE INVOLVEMENT

The group's policy is to consult and discuss with employees matters likely to affect their interests. This is achieved through staff meetings and one2ones.

Information relating to financial and economic matters is additionally disseminated to them using information bulletins and reports which seek to achieve a common awareness on the part of all employees of those factors affecting the group's performance.

ENGAGEMENT WITH EMPLOYEES

The Strategic Report includes a summary of how the directors have engaged with employees, had regard to employees interest and the effect of that regard.

ENGAGEMENT WITH OTHERS

The Strategic Report includes an indication of how the directors have had regard to the need to foster the company’s business relationships with suppliers, customers and others, and the effect of that regard, including on the principal decisions taken by the group during the financial year.

STREAMLINED ENERGY AND CARBON REPORTING

The assessment has been verified by a third-party (Adler and Allan) and carried out in accordance with ISO14064-1:2018 Greenhouse Gases - Part 1: Specification with guidance at the organization level for quantification and reporting of greenhouse gas emissions and removals.

The information below sets out total energy consumption and resulting GHG emissions by Scope arising from business operations.

| 2024-25 |  | 2023-24 |

| tCO2e |  | tCO2e |

Scope 1 - Heating Fuels |  | 262.24 |  | 247.38 |

Scope 1 - Company Vehicles |  | 167.23 |  | 155.53 |

Scope 2 - Purchased Electricity |  | 134.25 |  | 129.91 |

Scope 3 - Employee Mileage |  | 100.80 |  | 86.27 |

Total |  | 664.52 |  | 619.09 |

Intensity Ratios |  |

kWh/m2/year (Care Homes) |  | 334.33 |  | 312.40 |

tCO2e/employee/year |  | 1.38 |  | 1.33 |

tCO2e/£m/year |  | 25.25 |  | 24.6 |

H Care Limited is committed to delivering the highest level of care for individuals with learning disabilities whilst also reducing its environmental impact.

In the last 12 months, the organisation has continued to review its facilities and complete its renovation programme of care homes to both improve the quality of care and to incorporate energy saving measures. We have continued to utilise renewable electricity tariffs, ensuring that we procure energy from cleaner and renewable sources. The new Rectory Road Supported Living site utilises solar panels to produce its own electricity, thus minimising its own environmental impact.

H CARE LIMITED (REGISTERED NUMBER: 05616585)

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31 MARCH 2025

Our absolute location-based carbon emissions rose by 8% compared to the previous year. However, this represents a saving of 4% against market-based carbon emissions.

In the future, we will continue to explore ways to save energy and natural resources, including the possibility of low-carbon heating systems

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 or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS

The auditors, MGR Weston Kay LLP, are deemed to be reappointed under section 487(2) of the Companies Act 2006.

ON BEHALF OF THE BOARD:

P A de Savary - Director

19 September 2025

H CARE LIMITED (REGISTERED NUMBER: 05616585)

DIRECTORS' RESPONSIBILITIES STATEMENT

FOR THE YEAR ENDED 31 MARCH 2025

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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

H CARE LIMITED

Opinion

We have audited the financial statements of H Care Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2025 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 March 2025 and of the group's profit 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, the Report of the Directors and the Directors' Responsibilities Statement, 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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

H CARE LIMITED

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 Directors' Responsibilities Statement set out on page seven, 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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

H CARE LIMITED

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.

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

As part of our planning of the audit work required we obtained an understanding of the legal and regulatory frameworks that are applicable to the group via enquiries of the company’s management, carried out analytical procedures, held discussions amongst the engagement team and using knowledge of the sector determined that the most significant laws and regulation are those that relate to:

- The regulation of Health and Social Care.

- Health and safety regulations.

- Employment law including right to work in the UK and Disclosure and Barring Service (DBS).

- Medicine Regulation.

- Mental Capacity Act.

- Food Safety Act.

- Environmental protection and waste disposal.

- Fire safety regulations.

- Agency Worker Regulations.

- Data protection.

- Modern Slavery Act.

- UK Tax legislation.

We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as FRS102 and the Companies Act 2006.

Based on the results of our risk assessment we designed our audit procedures to identify non-compliance with the laws and regulations and the fraud risks identified. This included enquiries with management to understand their policies and procedures for compliance with those regulations and we completed the following tests:

- Obtained an understanding of relevant controls.

- Reviewed the company’s risk assessments, procedures and IT systems.

- Checked samples of documentation including minutes of the meetings of the directors, government grant paperwork, service agreements with regulatory advisors and reports by the Care Quality commission, the regulator.

We also assessed the risks of material misstatement in respect of fraud as follows:

- Revenue fraud.

- Unauthorised expenditure and/or payments.

- Management override of controls.

- Manipulation of accounting estimates.

- Related party fraud.

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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

H CARE LIMITED

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.

Nigel Walfisz FCA (Senior Statutory Auditor)

for and on behalf of MGR Weston Kay LLP

Statutory Auditors

55 Loudoun Road

St John's Wood

London

NW8 0DL

3 October 2025

H CARE LIMITED (REGISTERED NUMBER: 05616585)

CONSOLIDATED INCOME STATEMENT

FOR THE YEAR ENDED 31 MARCH 2025

| 31.3.25 |  | 31.3.24

| Notes | £ | £ |

TURNOVER | 4 | 26,604,825 |  | 23,857,999 |  |

Cost of sales | (18,906,049 | ) | (17,118,444 | ) |

GROSS PROFIT | 7,698,776 |  | 6,739,555 |  |

Administrative expenses | (6,304,601 | ) | (5,492,121 | ) |

1,394,175 |  | 1,247,434 |  |

Other operating income | 5 | 15,000 |  | 15,000 |  |

OPERATING PROFIT | 7 | 1,409,175 |  | 1,262,434 |  |

Interest receivable and similar income | 9 | 425 |  | 848 |  |

1,409,600 |  | 1,263,282 |  |

Interest payable and similar expenses | 10 | (714,582 | ) | (731,712 | ) |

PROFIT BEFORE TAXATION | 695,018 |  | 531,570 |  |

Tax on profit | 11 | 472,468 |  | 80,642 |  |

PROFIT FOR THE FINANCIAL YEAR | 1,167,486 |  | 612,212 |  |

Profit attributable to:

Owners of the parent | 1,167,486 |  | 612,212 |  |

H CARE LIMITED (REGISTERED NUMBER: 05616585)

CONSOLIDATED OTHER COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 MARCH 2025

| 31.3.25 |  | 31.3.24

| Notes | £ | £ |

PROFIT FOR THE YEAR | 1,167,486 |  | 612,212 |  |

OTHER COMPREHENSIVE INCOME |

Revaluation of tangible fixed assets | 894,000 |  | 3,493,577 |  |

Income tax relating to other comprehensive income | (223,500 | ) | (873,391 | ) |

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX | 670,500 |  | 2,620,186 |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 1,837,986 |  | 3,232,398 |  |

Total comprehensive income attributable to:

Owners of the parent | 1,837,986 |  | 3,232,398 |  |

H CARE LIMITED (REGISTERED NUMBER: 05616585)

CONSOLIDATED BALANCE SHEET

31 MARCH 2025

| 31.3.25 |  | 31.3.24

| Notes | £ | £ |

FIXED ASSETS

Intangible assets | 14 | 215 |  | 30,309 |  |

Tangible assets | 15 | 31,824,766 |  | 31,272,347 |  |

Investments | 16 | 1,571 |  | 1,571 |  |

31,826,552 |  | 31,304,227 |  |

CURRENT ASSETS

Debtors | 17 | 6,104,062 |  | 3,445,730 |  |

Cash at bank and in hand | 1,446,201 |  | 2,152,132 |  |

7,550,263 |  | 5,597,862 |  |

CREDITORS

Amounts falling due within one year | 18 | (4,128,423 | ) | (3,277,718 | ) |

NET CURRENT ASSETS | 3,421,840 |  | 2,320,144 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 35,248,392 |  | 33,624,371 |  |

CREDITORS

Amounts falling due after more than one year | 19 | (20,710,366 | ) | (20,713,926 | ) |

PROVISIONS FOR LIABILITIES | 21 | - |  | (26,405 | ) |

NET ASSETS | 14,538,026 |  | 12,884,040 |  |

CAPITAL AND RESERVES

Called up share capital | 22 | 2,127 |  | 2,127 |  |

Revaluation reserve | 9,500,237 |  | 8,829,737 |  |

Capital redemption reserve | 1,873 |  | 1,873 |  |

Retained earnings | 5,033,789 |  | 4,050,303 |  |

SHAREHOLDERS' FUNDS | 14,538,026 |  | 12,884,040 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 19 September 2025 and were signed on its behalf by:

P A de Savary - Director

H CARE LIMITED (REGISTERED NUMBER: 05616585)

COMPANY BALANCE SHEET

31 MARCH 2025

| 31.3.25 |  | 31.3.24

| Notes | £ | £ |

FIXED ASSETS

Intangible assets | 14 | - |  | - |  |

Tangible assets | 15 | - |  | - |  |

Investments | 16 | 86,834 |  | 86,834 |  |

86,834 |  | 86,834 |  |

CURRENT ASSETS

Debtors | 17 | 3,371,991 |  | 1,699,495 |  |

Cash at bank | 62,973 |  | 15,247 |  |

3,434,964 |  | 1,714,742 |  |

CREDITORS

Amounts falling due within one year | 18 | (1,196,231 | ) | (228,613 | ) |

NET CURRENT ASSETS | 2,238,733 |  | 1,486,129 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 2,325,567 |  | 1,572,963 |  |

CAPITAL AND RESERVES

Called up share capital | 22 | 2,127 |  | 2,127 |  |

Capital redemption reserve | 1,873 |  | 1,873 |  |

Retained earnings | 2,321,567 |  | 1,568,963 |  |

SHAREHOLDERS' FUNDS | 2,325,567 |  | 1,572,963 |  |

Company's profit for the financial year | 936,604 |  | 703,177 |  |

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 19 September 2025 and were signed on its behalf by:

P A de Savary - Director

H CARE LIMITED (REGISTERED NUMBER: 05616585)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MARCH 2025

| Called up |  | Capital |

| share |  | Retained |  | Revaluation |  | redemption |  | Total

| capital |  | earnings |  | reserve |  | reserve |  | equity

£ | £ | £ | £ | £ |

Balance at 1 April 2023 | 2,127 |  | 3,438,091 |  | 6,209,551 |  | 1,873 |  | 9,651,642 |  |

Changes in equity

Profit for the year | - |  | 612,212 |  | - |  | - |  | 612,212 |  |

Revaluation of tangible fixed assets | - |  | - |  | 2,620,186 |  | - |  | 2,620,186 |  |

Total comprehensive income | - |  | 612,212 |  | 2,620,186 |  | - |  | 3,232,398 |  |

Balance at 31 March 2024 | 2,127 |  | 4,050,303 |  | 8,829,737 |  | 1,873 |  | 12,884,040 |  |

Changes in equity

Profit for the year | - |  | 1,167,486 |  | - |  | - |  | 1,167,486 |  |

Other comprehensive income | - |  | - |  | 670,500 |  | - |  | 670,500 |  |

Total comprehensive income | - |  | 1,167,486 |  | 670,500 |  | - |  | 1,837,986 |  |

Dividends | - |  | (184,000 | ) | - |  | - |  | (184,000 | ) |

Balance at 31 March 2025 | 2,127 |  | 5,033,789 |  | 9,500,237 |  | 1,873 |  | 14,538,026 |  |

H CARE LIMITED (REGISTERED NUMBER: 05616585)

COMPANY STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MARCH 2025

| Called up |  | Capital |

| share |  | Retained |  | redemption |  | Total

| capital |  | earnings |  | reserve |  | equity

£ | £ | £ | £ |

Balance at 1 April 2023 | 2,127 |  | 865,786 |  | 1,873 |  | 869,786 |  |

Changes in equity

Total comprehensive income | - |  | 703,177 |  | - |  | 703,177 |  |

Balance at 31 March 2024 | 2,127 |  | 1,568,963 |  | 1,873 |  | 1,572,963 |  |

Changes in equity

Dividends | - |  | (184,000 | ) | - |  | (184,000 | ) |

Total comprehensive income | - |  | 936,604 |  | - |  | 936,604 |  |

Balance at 31 March 2025 | 2,127 |  | 2,321,567 |  | 1,873 |  | 2,325,567 |  |

H CARE LIMITED (REGISTERED NUMBER: 05616585)

CONSOLIDATED CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 MARCH 2025

| 31.3.25 |  | 31.3.24

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 215,360 |  | 169,907 |  |

Interest element of finance lease payments paid | (714,582 | ) | (731,712 | ) |

Net cash from operating activities | (499,222 | ) | (561,805 | ) |

Cash flows from investing activities

Purchase of tangible fixed assets | (19,574 | ) | (214,774 | ) |

Sale of tangible fixed assets | - |  | 9,708 |  |

Interest received | 425 |  | 848 |  |

Net cash from investing activities | (19,149 | ) | (204,218 | ) |

Cash flows from financing activities

Capital repayments in year | (3,560 | ) | (3,452 | ) |

Equity dividends paid | (184,000 | ) | - |  |

Net cash from financing activities | (187,560 | ) | (3,452 | ) |

Decrease in cash and cash equivalents | (705,931 | ) | (769,475 | ) |

Cash and cash equivalents at beginning of year | 2 | 2,152,132 |  | 2,921,607 |  |

Cash and cash equivalents at end of year | 2 | 1,446,201 |  | 2,152,132 |  |

H CARE LIMITED (REGISTERED NUMBER: 05616585)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 MARCH 2025

1. | RECONCILIATION OF PROFIT FOR THE FINANCIAL YEAR TO CASH GENERATED FROM OPERATIONS

| 31.3.25 |  | 31.3.24

£ | £ |

| Profit for the financial year | 1,167,486 |  | 612,212 |  |

| Depreciation charges | 167,750 |  | 334,632 |  |

| Finance costs | 714,582 |  | 731,712 |  |

| Finance income | (425 | ) | (848 | ) |

| Taxation | (472,468 | ) | (80,642 | ) |

1,576,925 |  | 1,597,066 |  |

| Increase in trade and other debtors | (2,212,270 | ) | (1,863,244 | ) |

| Increase in trade and other creditors | 850,705 |  | 436,085 |  |

| Cash generated from operations | 215,360 |  | 169,907 |  |

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 March 2025

| 31.3.25 |  | 1.4.24

£ | £ |

| Cash and cash equivalents | 1,446,201 |  | 2,152,132 |  |

| Year ended 31 March 2024

| 31.3.24 |  | 1.4.23

£ | £ |

| Cash and cash equivalents | 2,152,132 |  | 2,921,607 |  |

3. | ANALYSIS OF CHANGES IN NET DEBT

| At 1.4.24 | Cash flow | At 31.3.25

£ | £ | £ |

| Net cash |

| Cash at bank and in hand | 2,152,132 |  | (705,931 | ) | 1,446,201 |  |

2,152,132 |  | (705,931 | ) | 1,446,201 |  |

| Debt

| Finance leases | (21,364,278 | ) | 3,560 |  | (21,360,718 | ) |

(21,364,278 | ) | 3,560 |  | (21,360,718 | ) |

| Total | (19,212,146 | ) | (702,371 | ) | (19,914,517 | ) |

H CARE LIMITED (REGISTERED NUMBER: 05616585)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1. | STATUTORY INFORMATION

| H Care Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

| The presentation currency of the financial statements is the Pound Sterling (£).

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

| Basis of consolidation

| Investments in subsidiaries are accounted for at cost less impairment.

| The consolidated financial statements incorporate those of H Care Limited and all of its subsidiaries (i.e. entities that the group controls through its power to govern the financial and operating policies so as to obtain economic benefits).

| All financial statements are made up to 31 March 2025.

| All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

| Turnover

| Turnover receivable for care services provided is calculated on a daily basis and is partially exempt from VAT.

| Turnover receivable for the supply of care staff is charged on an hourly basis and associated costs net of VAT.

| Rent receivable is recognised on a daily basis and is stated net of VAT.

| Turnover receivable for IT service is stated net of VAT.

| Intangible assets

| Intangible assets have been internally generated and have met the recognition criteria under FRS 102 18.4 and 18.8H. Intangible assets are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

| Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

| Software 33% straight line

H CARE LIMITED (REGISTERED NUMBER: 05616585)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

2. | ACCOUNTING POLICIES - continued

| Tangible fixed assets

| Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

| Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

| Fixtures, fittings and equipment 20% - 33% straight line depending on nature of the individual assets

| Motor vehicles 25% straight line

| The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

| Impairment of fixed assets

| At each balance sheet date, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss.

| Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply.

| Fixed asset investments

| Equity investments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

| In the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

| Financial instruments

| The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

| Financial instruments are recognised in the group's balance sheet when the group becomes party to the contractual provisions of the instrument.

| Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

| Equity instruments

| Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

H CARE LIMITED (REGISTERED NUMBER: 05616585)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

2. | ACCOUNTING POLICIES - continued

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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 balance sheet date.

| Deferred tax

| Deferred taxation is provided at appropriate rates on all timing difference using the liability method only to the extent that, in the opinion of the directors, there is a reasonable probability that a liability or asset will crystallise in the foreseeable future.

| Deferred tax on the unrealised surplus on revaluation of fixed assets is provided for at rates enacted at the balance sheet date and deducted from the balance on the revaluation reserve.

| Leases

| Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

| Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

| Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

| Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

| Pension costs and other post-retirement benefits

| The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

| Cash and cash equivalents

| Cash and cash equivalents include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

H CARE LIMITED (REGISTERED NUMBER: 05616585)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

3. | JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

| In the application of the group’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

| The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

| Key sources of estimation uncertainty

| The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

| Valuation of land and buildings

| As described in note 15 to the financial statements, land and buildings were valued by the directors at fair value based on a report by an independent property consultant during the year ended 31 March 2025. The valuation used observable market prices adjusted as necessary for any difference in the future, location or condition of the specific asset.

4. | TURNOVER

| The turnover and profit before taxation are attributable to the one principal activity of the group.

| An analysis of turnover by class of business is given below:

| 31.3.25 |  | 31.3.24

£ | £ |

| Care home management | 25,306,790 |  | 23,061,396 |  |

| Labour recruitment | 1,247,224 |  | 742,317 |  |

| IT development | 50,811 |  | 54,286 |  |

26,604,825 |  | 23,857,999 |  |

| The total turnover of the group for the year has been wholly undertaken in the United Kingdom.

5. | OTHER OPERATING INCOME

| 31.3.25 |  | 31.3.24

£ | £ |

| Management fees received | 15,000 |  | 15,000 |  |

6. | EMPLOYEES AND DIRECTORS

| 31.3.25 |  | 31.3.24

£ | £ |

| Wages and salaries | 16,843,185 |  | 14,450,172 |  |

| Social security costs | 1,664,565 |  | 1,827,159 |  |

| Other pension costs | 335,860 |  | 365,987 |  |

18,843,610 |  | 16,643,318 |  |

H CARE LIMITED (REGISTERED NUMBER: 05616585)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

6. | EMPLOYEES AND DIRECTORS - continued

| The average number of employees during the year was as follows:

| 31.3.25 |  | 31.3.24

| Care | 512 |  | 498 |  |

| Administration | 25 |  | 22 |  |

537 |  | 520 |  |

|  | 31.3.25 |  |  | 31.3.24 |  |

|  | £ |  |  | £ |  |

| Director's remuneration |  |  | 968,173 |  |  | 911,060 |  |

| Company pension contributions to defined contribution schemes |  | 43,302 |  |  | 550 |  |

| The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 5 (2024: 4)

| Highest paid director:

|  | 31.3.25 |  |  | 31.3.24 |  |

|  | £ |  |  | £ |  |

| Director's remuneration |  |  | 345,011 |  |  | 322,388 |  |

| Company pension contributions to defined contribution schemes |  | 20,000 |  |  | - |  |

7. | OPERATING PROFIT

| The operating profit is stated after charging:

| 31.3.25 |  | 31.3.24

£ | £ |

| Hire of plant and machinery | 239,715 |  | 144,632 |  |

| Other operating leases | 131,766 |  | 194,090 |  |

| Depreciation - owned assets | 137,655 |  | 191,615 |  |

| Computer software amortisation | 30,094 |  | 143,017 |  |

H CARE LIMITED (REGISTERED NUMBER: 05616585)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

8. | AUDITORS' REMUNERATION

| Fees payable to the company's auditor and associates:

|  | 31.3.25 |  | 31.3.24 |  |

|  | £ |  | £ |  |

| For audit services |  |

| Audit of the financial statements of the group and company |  | 18,656 |  | 18,625 |  |

| Audit of the financial statements of the company's subsidiaries |  | 122,588 |  | 126,707 |  |

|  | 141,244 |  | 145,332 |  |

| For other services |  |

| All other non-audit services |  | 40,390 |  | 25,381 |  |

9. | INTEREST RECEIVABLE AND SIMILAR INCOME |

| 31.3.25 |  | 31.3.24

£ | £ |

| Bank account interest | 425 |  | 848 |  |

10. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 31.3.25 |  | 31.3.24

£ | £ |

| Leasing | 714,582 |  | 731,712 |  |

11. | TAXATION

| Analysis of the tax credit

| The tax credit on the profit for the year was as follows:

| 31.3.25 |  | 31.3.24

£ | £ |

| Current tax:

| Prior period adjustments | - |  | (49,882 | ) |

| Deferred tax | (472,468 | ) | (30,760 | ) |

| Tax on profit | (472,468 | ) | (80,642 | ) |

H CARE LIMITED (REGISTERED NUMBER: 05616585)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

11. | TAXATION - continued

| Reconciliation of total tax credit included in profit and loss

| The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

| 31.3.25 |  | 31.3.24

£ | £ |

| Profit before tax | 695,018 |  | 531,570 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25 % (2024 - 25 %) | 173,755 |  | 132,893 |  |

| Effects of:

| Expenses not deductible for tax purposes | 8,305 |  | 37,360 |  |

| Income not taxable for tax purposes | (6,134 | ) | - |  |

| Capital allowances in excess of depreciation | (21,898 | ) | (20,410 | ) |

| Utilisation of tax losses | (154,028 | ) | (149,843 | ) |

| Adjustments to tax charge in respect of previous periods | - |  | (49,882 | ) |

| Deferred tax on timing differences | (22,918 | ) | (30,760 | ) |

| Deferred tax on losses | (449,550 | ) | - |  |

| Total tax credit | (472,468 | ) | (80,642 | ) |

| Tax effects relating to effects of other comprehensive income |

| 31.3.25 |

| Gross |  | Tax |  | Net |

£ | £ | £ |

| Revaluation of tangible fixed assets | 894,000 |  | (223,500 | ) | 670,500 |  |

| 31.3.24 |

| Gross |  | Tax |  | Net |

£ | £ | £ |

| Revaluation of tangible fixed assets | 3,493,577 |  | (873,391 | ) | 2,620,186 |  |

12. | INDIVIDUAL INCOME STATEMENT

| As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.

13. | DIVIDENDS

|  | 31.3.25 |  | 31.3.24 |  |

|  | £ |  | £ |  |

| Interim |  | 184,000 |  | - |  |

H CARE LIMITED (REGISTERED NUMBER: 05616585)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

14. | INTANGIBLE FIXED ASSETS

| Group

| Computer

| software

£ |

| COST

| At 1 April 2024

| and 31 March 2025 | 2,134,788 |  |

| AMORTISATION

| At 1 April 2024 | 2,104,479 |  |

| Amortisation for year | 30,094 |  |

| At 31 March 2025 | 2,134,573 |  |

| NET BOOK VALUE

| At 31 March 2025 | 215 |  |

| At 31 March 2024 | 30,309 |  |

| The company had no intangible fixed assets at 31 March 2025 or 31 March 2024.

15. | TANGIBLE FIXED ASSETS

| Group

| Leasehold |  | Fixtures |

| land and |  | and |  | Motor |

| buildings |  | fittings |  | vehicles |  | Totals

£ | £ | £ | £ |

| COST OR VALUATION

| At 1 April 2024 | 31,357,830 |  | 2,536,766 |  | 71,096 |  | 33,965,692 |  |

| Additions | - |  | 3,674 |  | 15,900 |  | 19,574 |  |

| Revaluations | 670,500 |  | - |  | - |  | 670,500 |  |

| At 31 March 2025 | 32,028,330 |  | 2,540,440 |  | 86,996 |  | 34,655,766 |  |

| DEPRECIATION

| At 1 April 2024 | 319,231 |  | 2,329,571 |  | 44,543 |  | 2,693,345 |  |

| Charge for year | 1,280 |  | 126,374 |  | 10,001 |  | 137,655 |  |

| At 31 March 2025 | 320,511 |  | 2,455,945 |  | 54,544 |  | 2,831,000 |  |

| NET BOOK VALUE

| At 31 March 2025 | 31,707,819 |  | 84,495 |  | 32,452 |  | 31,824,766 |  |

| At 31 March 2024 | 31,038,599 |  | 207,195 |  | 26,553 |  | 31,272,347 |  |

H CARE LIMITED (REGISTERED NUMBER: 05616585)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

15. | TANGIBLE FIXED ASSETS - continued

| Group

| The assets have been included at the following historical cost:

|  | 31.3.25 |  | 31.3.24 |  |

|  | £ |  | £ |  |

| Cost |  | 22,475,293 |  | 22,017,612 |  |

| The leasehold land and buildings were valued by the directors as at 31 March 2025 based on the methodology of a report by an independent property consultant during the year ended 31 March 2024.

| Fixed assets, included in the above, which are held under finance leases are as follows:

| Leasehold

| land and

| buildings

£ |

| COST OR VALUATION

| At 1 April 2024 | 31,029,092 |  |

| Revaluations | 670,500 |  |

| At 31 March 2025 | 31,699,592 |  |

| NET BOOK VALUE

| At 31 March 2025 | 31,699,592 |  |

| At 31 March 2024 | 31,029,092 |  |

16. | FIXED ASSET INVESTMENTS

| Group

| Unlisted

| investments

£ |

| COST

| At 1 April 2024

| and 31 March 2025 | 1,571 |  |

| NET BOOK VALUE

| At 31 March 2025 | 1,571 |  |

| At 31 March 2024 | 1,571 |  |

H CARE LIMITED (REGISTERED NUMBER: 05616585)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

16. | FIXED ASSET INVESTMENTS - continued

| Company

| Shares in |

| group |  | Unlisted |

| undertakings |  | investments |  | Totals

£ | £ | £ |

| COST

| At 1 April 2024

| and 31 March 2025 | 85,263 |  | 1,571 |  | 86,834 |  |

| NET BOOK VALUE

| At 31 March 2025 | 85,263 |  | 1,571 |  | 86,834 |  |

| At 31 March 2024 | 85,263 |  | 1,571 |  | 86,834 |  |

| The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

| Subsidiaries

| HFHC Healthcare Limited

| Registered office: England and Wales

| Nature of business: Labour recruitment and provision of personel

| %

| Class of shares: | holding |

| Ordinary direct | 100.00 |

| Ordinary indirect |

| HFHC Management Ltd

| Registered office: England and Wales

| Nature of business: Care home management

| %

| Class of shares: | holding |

| Ordinary direct |

| Ordinary indirect | 100.00 |

| HFHC Partnering Limited

| Registered office: England and Wales

| Nature of business: Provision of business premise

| %

| Class of shares: | holding |

| Ordinary direct | 100.00 |

| Ordinary indirect |

| HFHC Properties Ltd

| Registered office: England and Wales

| Nature of business: Dormant

| %

| Class of shares: | holding |

| Ordinary direct | 100.00 |

| Ordinary indirect |

H CARE LIMITED (REGISTERED NUMBER: 05616585)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

16. | FIXED ASSET INVESTMENTS - continued

| Home From Home Care Limited

| Registered office: England and Wales

| Nature of business: Care home management

| %

| Class of shares: | holding |

| Ordinary direct | 100.00 |

| Ordinary indirect |

| Intersco (HFHC) Limited

| Registered office: England and Wales

| Nature of business: Provision of administration services

| %

| Class of shares: | holding |

| Ordinary direct | 100.00 |

| Ordinary indirect |

| Harkstave Healthcare Projects Ltd

| Registered office: England and Wales

| Nature of business: Provision of building services

| %

| Class of shares: | holding |

| Ordinary direct | 100.00 |

| Ordinary indirect |

17. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| Group |  | Company |

| 31.3.25 |  | 31.3.24 |  | 31.3.25 |  | 31.3.24 |

£ | £ | £ | £ |

| Trade debtors | 3,484,869 |  | 684,844 |  | - |  | - |  |

| Amounts owed by group undertakings | - |  | - |  | 3,244,376 |  | 1,677,158 |  |

| Other debtors | 1,683,276 |  | 1,290,043 |  | - |  | 6,258 |  |

| VAT | - |  | - |  | - |  | 6,252 |  |

| Deferred tax asset | 446,062 |  | - |  | - |  | - |  |

| Prepayments and accrued income | 489,855 |  | 1,470,843 |  | 127,615 |  | 9,827 |  |

6,104,062 |  | 3,445,730 |  | 3,371,991 |  | 1,699,495 |  |

| Deferred tax asset

| Group |  | Company |

| 31.3.25 |  | 31.3.24 |  | 31.3.25 |  | 31.3.24 |

£ | £ | £ | £ |

| Deferred tax | 446,062 |  | - |  | - |  | - |  |

H CARE LIMITED (REGISTERED NUMBER: 05616585)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

18. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| Group |  | Company |

| 31.3.25 |  | 31.3.24 |  | 31.3.25 |  | 31.3.24 |

£ | £ | £ | £ |

| Finance leases (see note 20) | 650,352 |  | 650,352 |  | - |  | - |  |

| Trade creditors | 315,528 |  | 79,635 |  | - |  | - |  |

| Amounts owed to group undertakings | - |  | - |  | 1,021,001 |  | 60,001 |  |

| Taxation | 122 |  | 122 |  | - |  | - |  |

| Social security and other taxes | 784,949 |  | 707,690 |  | 99,603 |  | 87,319 |  |

| VAT | 255,379 |  | 143,900 |  | - |  | - |  |

| Other creditors | 1,267,800 |  | 1,213,391 |  | 56,397 |  | 49,951 |  |

| Wages and salaries | 26,761 |  | 7,751 |  | - |  | - |  |

| Accruals and deferred income | 827,532 |  | 467,295 |  | 19,230 |  | 31,342 |  |

| Deferred government grants | - |  | 7,582 |  | - |  | - |  |

4,128,423 |  | 3,277,718 |  | 1,196,231 |  | 228,613 |  |

19. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| Group |

| 31.3.25 |  | 31.3.24 |

£ | £ |

| Finance leases (see note 20) | 20,710,366 |  | 20,713,926 |  |

20. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Group

| Finance leases |

| 31.3.25 |  | 31.3.24 |

£ | £ |

| Net obligations repayable:

| Within one year | 650,352 |  | 650,352 |  |

| Between one and five years | 2,601,408 |  | 2,601,408 |  |

| In more than five years | 18,108,958 |  | 18,112,518 |  |

21,360,718 |  | 21,364,278 |  |

| Finance lease payments represent rentals payable by the company for leasehold properties. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is 175 years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

H CARE LIMITED (REGISTERED NUMBER: 05616585)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

20. | LEASING AGREEMENTS - continued

| Group

| Non-cancellable |

| operating leases |

| 31.3.25 |  | 31.3.24

£ | £ |

| Within one year | 259,662 |  | 276,110 |  |

| Between one and five years | 177,999 |  | 213,125 |  |

437,661 |  | 489,235 |  |

21. | PROVISIONS FOR LIABILITIES

| Group |

| 31.3.25 |  | 31.3.24 |

£ | £ |

| Deferred tax | - |  | 26,405 |  |

| Group

| Deferred |  | Deferredtax |

| tax |  | asset |

£ | £ |

| Balance at 1 April 2024 | 26,405 |  | - |  |

| Provided during year | (472,467 | ) | - |  |

| Balance at 31 March 2025 | (446,062 | ) | - |  |

| The deferred tax asset set out above is expected to reverse within 5 years and relates to accelerated capital allowances that are expected to mature within the same period and tax losses that are expected to be utilised within that period.

| In accordance with FRS 102 the company has recognised deferred tax liabilities on the revaluation of leasehold land and buildings of £3,166,739 (2024: £2,943,240). This has been deducted from the carrying value of the assets.

22. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 31.3.25 |  | 31.3.24

| value: | £ | £ |

| 963 | Ordinary A | £1 | 963 |  | 963 |  |

| 962 | Ordinary B | £1 | 962 |  | 962 |  |

| 200 | Ordinary C | £1 | 200 |  | 200 |  |

| 2 | Ordinary D | £1 | 2 |  | 2 |  |

2,127 |  | 2,127 |  |

H CARE LIMITED (REGISTERED NUMBER: 05616585)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

22. | CALLED UP SHARE CAPITAL - continued

| The holders of the Ordinary shares are entitled to receive dividends as declared and are entitled to one vote per share at meetings of the Company. All Ordinary shares rank equally with regard to the Company's residual assets.

23. | RELATED PARTY DISCLOSURES

| The group has taken advantage of the exemption available in accordance with FRS 102 Section 33 'Related party disclosures' not to disclose transactions entered into between two or more members of a group, as the company and the other subsidiaries are wholly owned subsidiary undertakings of the group to which they are party to the transactions.

| At the balance sheet date the group was owed £163,908 (2024: £43,757) by another group owned and controlled by certain directors. During the year, £49,011 (2024: £99,667) was recharged in relation to software services and £15,000 (2024: £Nil) for management fees.

| During the year the group paid £31,809 (2024: £7,591) to a director for consultancy services.

| At the balance sheet date the group was also owed £1,431,904 (2024: £1,164,993) by another group owned and controlled by two of the directors.

| During the year, a total of key management personnel compensation of £ 1,214,541 (2024 - £ 1,174,312 ) was paid.

24. | ULTIMATE CONTROLLING PARTY

| At the year end, the ultimate controlling parties were P A de Savary and A M de Savary.