REGISTERED NUMBER: 01816375 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

PRIORY COURT DEVELOPMENTS LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

6

Report of the Independent Auditors

9

Income Statement

13

Other Comprehensive Income

14

Balance Sheet

15

Statement of Changes in Equity

17

Cash Flow Statement

18

Notes to the Cash Flow Statement

19

Notes to the Financial Statements

21

DIRECTORS:

Mrs V Suresparan

Mr N B Suresparan

SECRETARY:

Mr N B Suresparan

REGISTERED OFFICE:

1st Floor, 44-50 The Broadway

Southall

Middlesex

UB1 1QB

REGISTERED NUMBER:

01816375 (England and Wales)

SENIOR STATUTORY AUDITOR:

S Paramaguru

AUDITORS:

Param & Company Ltd

Chartered Certified Accountants

Statutory Auditors

44 - 50 The Broadway

Southall

Middlesex

UB1 1QB

The directors present their strategic report for the year ended 31 December 2024.

REVIEW OF BUSINESS

This year council tax increase includes the maximum 2.99% uplift in the general council tax elements and further 2% rise in the ring fenced adult social care precept.

The Company experienced a challenging year, adapting to the operational restrictions and limitations imposed as a

result of the Covid-19 pandemic in the previous year. Operating in the health sector as care homes, the Company continued to trade throughout and an increase in demand as it ensured a continuation of key services to its customers. The Company has delivered a satisfactory result for the current year. Please see further information

regarding the performance of the Company in the year in the Financial key performance indicators section below.

The cost for provision of care has continued to rise with minimum wage legislation and extra regulatory requirements, in order to attract and retain quality staff at all levels. Nursing shortage is acute nationally and has a bearing on wage costs. The company policy has been to continually invest in the fabric of the building, purchase new equipment and invest in staff training to improve standards of care.

The directors are very pleased with the progress that the company has made this year. All of the care homes run by the company are operating at near maximum capacity, with an average occupancy rate of 91% .

Key performance indicators

2024

2023

Revenue

£8,885,404

£7,633,823

Gross profit

£2,220,502

£2,159,678

Gross profit margin

25%

28%

Profit before tax

£(91,211)

£51,395

Other Key performance indicators measured by the company include the wages to turnover rate, which is 62% (2023, 59%) and the Gross Profit Margin, which is 25% (2023, 28%).

Food costs

The third largest cost for care home operators is the food bill, which consumes around 3.25% (2023 - 3%). Compared with last year’s figures, this represents a significant increase, which hindered the company’s efforts to reduce its losses.

Going concern

The directors are confident that the company has adequate resources to continue operational existence for the foreseeable future. In consideration of going concern, the directors continually review the company's future cashflow forecasts and profit projections, on both a base case and sensitized basis, considering the principal risks and uncertainties that may arise. These forecasts have been prepared based on market data, experience trading within the sector and anticipated future trading. There is nothing to indicate from these forecasts, that the company would not be able to continue successfully as a going concern in the future.

STRATEGY

The board will continue to keep costs under control and develop existing income streams. New opportunities will continue to be sought where these will make a return for the company.

PRINCIPAL RISKS AND UNCERTAINTIES

Despite funding increases, and increase in the elderly population the sector faces financial strains and is also faced with a constant barrage of regulatory charges.

The majority of placements are from local councils which makes them a bulk purchaser of our services and therefore weakens our position with fee negotiations. This is balanced by an ever greater demand for beds and the pressure on the councils to vacate hospital beds. Increasing nursing homes are looking after very heavily dependent residents or residents who require short term care and this increases the risk of accidents and potential claims.

Priory Court Developments Ltd, like all businesses, faces a number of operating risks and uncertainties. The most fundamental issues faced by the company are:

- meeting bank covenants of the parent company.

- maximising occupancy levels;

- complying with the stringent regulations of the Care Quality Commission under which Care Homes operate;

- achieving quality standards; and

- attracting and retaining high quality qualified and other staff.

The cost for provision of care has continued to rise with minimum wage legislation and extra regulatory requirements, Inorder to attract and retain quality staff at all levels. Nursing shortage is acute nationally and has a bearing on wage costs. The company policy has been to continually invest in the fabric of the building, purchase new equipment and invest in staff training to improve standards of care.

Company monitor the performance on monthly and quarterly basis in order to achieve the required covenants for the banks. The required quality control to satisfy the CQC is monitored by the company management on a regular basis.

Risk of business interruption:

The recent interruption caused by the COVID-19 pandemic has also provided the company with a present and future risk to consider. The company has taken all steps possible to ensure the safety of our employees whilst working hard to develop processes that ensure the business has the financial resilience to prosper through this difficult period. At present we continue to follow government guidelines and operate cautiously in the wake of an ever evolving economic landscape. The group's financial performance will inevitably be impacted by the crisis during 2020 and beyond. Despite the challenges the company has faced throughout the COVID-19 pandemic, we feel we are in a good position to maximise the opportunity that will inevitably materialise through the growth of the economy.

Credit risk

The company's principal assets are bank balances and cash, trade and other receivables and tangible fixed assets.

The company's credit risk is primarily attributable to its trade receivables. Trade receivables are reviewed on a regular basis to ensure they are collectable. The amounts presented in the balance sheet are net allowances for doubtful receivables, estimated by the company based on previous experience and assessment of the current economic climate. Also, risk is spread over a large number of customers. The credit risk on liquid funds is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.

Liquidity risk

The company has continued to maintain liquidity and sufficient working capital for its ongoing operations and future developments. All committed facilities are monitored and maintained regularly ensuring that all future improvement programmes are met.

Price risk

The company faces uncertainties in relation to average weekly fee increases for the provision of care services in the care homes operated by Priory Court Developments Ltd. The average weekly fee rates are also driven by the number of residents funded by Local Authorities and by private fee payers.

Reputational Risk

Any serious incident relating to the provision of care services could result in negative publicity and increased scrutiny from regulators, residents and families.

In order to mitigate this risk, we deliver comprehensive and continuous employee training via mandatory and specialist learning and development programme, have independent quality inspectors, carry out a Disclosure and Barring Service check on all care staff and monitor compliance with an industry best electronic system. We also have clear governance processes to report on risks and incidents, and then implement learning from those events to mitigate the risk of future incidents.

Regulatory Risk

Our operations are subject to a high level of regulation and scrutiny by regulators across the UK. Inspections are largely unannounced and often involve several inspectors per home visit. The failure to meet the appropriate national regulations could lead to a service being placed under special measures, being subjected to enforcement notices or possibly forced to close.

Our central quality team has been realigned to provide enhanced support to operational colleagues to deliver the best possible care for residents and to ensure that we are adhering to the required regulations in place throughout the UK.

To support this approach, we have introduced an improved quality assurance framework which is strength based and incorporates "I" and "we" statements focused on residents safety, experience and governance. Our internal assessment managers work closely with home managers and regional senior leaders to ensure that the outcomes of assessments are clear and any required actions are established and monitored. These actions are reviewed by the internal assessment manager as part of the home's next formal assessment.

We have developed a clinical event dashboard which provides assurance and oversight across the organisation and is reviewed regularly by key senior leaders both regionally and organisationally as part of our governance structure. The introduction of new digital care tools, including our new event reporting and quality assurance system, and our new digital care planning system, in addition to our existing system. provides a greater level of insight than we have ever been able to achieve centrally and enables us to identify and mitigate risks throughout our operations more efficiently than ever before.

We have a robust approach to understanding, learning from and mitigating future risk through our serious event review process, which drives the direction of future improvements and replication of good practice. If a serious event occurs, we undertake a serious event review meeting, comprising operations, and central quality support function colleagues and subject matter experts to understand what has happened, provide any additional support required, and to identify and share learning.

This approach also supports our monitoring and learning from complaints and safeguarding concerns which are all thoroughly investigated, responded to and the lessons learned are appropriately cascaded to share best practice. We have a whistleblowing procedure through which colleagues can raise concerns confidentially either with their manager, their superior, or, a member of the operational team, about how other colleagues are being treated or practices within our business or supply chain, without fear of reprisals.

Section 172

The directors confirm that they have had regard to the matters set out in Section 172(1)(a) to (f) of the Companies Act 2006 in performing their duties

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

(b) The interests of the company's employees,

(c) The need to foster the company's business relationships with suppliers, customers and others,

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

(e) The desirability of the company maintaining a reputation for high standards of business conduct, and

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

Employees

Priory Court Developments Ltd is committed to a policy of being a fair and inclusive employer. Employment with the company offers everyone equal rights, and career development and promotion prospects, regardless of age, race, gender, sexual orientation, disability or religion. We ensure as far as possible that the diversity of our teams reflects the diversity of the customers we serve.

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

Overall

Given the good cash flow, retained profits and positive balance sheet position, the directors are confident that all actions taken have kept the business in good stead and feel assured that this will continue forward into the future. Occupancy continued to grow throughout the year. With this being our most important key performance indicator, it gives the directors of the company reassurance that the business is in a very strong position

CONCLUSION

Priory Court Developments Ltd is considered to have sufficient financial resources, as a consequence the directors believe that the company is well placed to manage its business risks successfully despite the current uncertain economic outlook.

ON BEHALF OF THE BOARD:

Mr N B Suresparan - Director

29 September 2025

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of Residential care home with nursing facilities.

DIVIDENDS

No dividends will be distributed for the year ended 31 December 2024.

DIRECTORS

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

Mrs V Suresparan

Mr N B Suresparan

POLITICAL DONATIONS AND EXPENDITURE

No Political Donations and Expenditure.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the 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 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 and then apply them consistently;

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

-	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 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.

Future Developments

The Board remains committed to delivering high-quality, compassionate care by continuing to invest significantly in our workforce, environments, and services. Our strategic ambition is to become the first-choice care home provider in each of the communities we serve. We aim to achieve this by strengthening our partnerships with Local Authorities and NHS aligning ourselves with increasingly integrated and community-specific health and social care systems. Looking ahead, we intend to build upon the progress made over the past year in several key areas:

Occupancy Recovery and Workforce Retention: We will continue to focus on increasing occupancy across our portfolio and enhancing colleague retention by investing in staff development and wellbeing.

Quality and Service Line Expansion: Quality remains at the heart of everything we do. We will also explore opportunities to broaden the range of care services we offer,in order to meet the evolving needs of our residents.

Digital Transformation: The rollout of our digital care planning system will continue, with a longer-term goal of implementing a fully integrated digital care platform. This will significantly improve how we deliver and monitor care.

Integration of Homes: Following the successful acquisition and onboarding of Care Homes into the We Care Group, we look forward to building on this momentum to further enhance our offering.

In support of these objectives, we will continue to invest in the following strategic priorities:

Our Colleagues: Development of our new-starter journey, expansion of flexible working options, and further implementation of our Enhanced Workforce Model. This model is designed to help address sector-wide challenges related to the availability of qualified nurses and skilled care staff.

Our Environments: Continued investment in our refurbishment and upgrade programme, expansion of bedroom capacity, and implementation of our ongoing decarbonisation initiatives.

Our Portfolio: We will remain agile in our portfolio management, including the careful addition of new, modern care homes and the selective divestment of homes that may be better served by alternative providers. This approach ensures efficient use of resources where we can make the greatest positive impact.

In line with national trends, increases in payroll and operational costs have resulted in upward pressure on fee rates. We remain committed to maintaining transparent and constructive dialogue with Local Authorities, NHS partners, and other stakeholders to ensure the long-term sustainability of care provision. As the needs of an ageing population become more complex, we will continue to advocate for a more integrated and adequately funded health and social care system.

Residents and Relatives

To provide compassionate and high-quality 24/7 care to our residents, fostering a supportive community for both residents and their families. We are dedicated to continuous listening, learning, and transparent communication to ensure our care and services represent the highest standard of value.

Our Suppliers

Our high-quality services for residents are delivered in partnership with our trusted suppliers. We build strong relationships through regular communication and performance reviews, and we demonstrate our reliability through fair payment practices and valued, long-term contracts. Our mutual success is built on a foundation of trust and transparency.

Energy Use and Emissions Reporting

During the reporting period, the Company undertook several actions aimed at reducing energy consumption and improving efficiency across our homes as part of our commitment to environmental responsibility in accordance with applicable regulatory requirements :

Continued rollout of LED lighting and smart heating systems in newly refurbished and existing homes.

Implementation of building energy management systems (BEMS) to optimise heating, ventilation, and air conditioning (HVAC) performance.

Upgrades to insulation and windows as part of our refurbishment programme to improve thermal efficiency.

Investment in renewable energy technologies, including the evaluation of solar panel installations at selected sites.

Enhanced staff training programmes to promote energy-conscious behaviours within our homes.

These measures have not only contributed to a reduction in emissions but have also supported long-term cost savings and resilience against energy price volatility. We remain committed to reducing our environmental footprint while ensuring the comfort and well-being of our residents. Looking forward, we will continue to identify further opportunities for decarbonisation and sustainability across all aspects of our operations.

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 company'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 company's auditors are aware of that information.

AUDITORS

The auditors, Param & Company Ltd, will be proposed for re-appointed in accordance with the companies Act 2006, s.485.

ON BEHALF OF THE BOARD:

Mr N B Suresparan - Director

29 September 2025

Opinion

We have audited the financial statements of Priory Court Developments Limited (the 'company') for the year ended 31 December 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the 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 company's affairs as at 31 December 2024 and of its loss for the year then ended;

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

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

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company 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 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 Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

-	the information given in the 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 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 company and its environment obtained in the course of the audit, we have not identified material misstatements in the 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, 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.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on pages six and eight, 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 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 company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

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

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

The extent to which the audit was considered capable of detecting irregularities including fraud

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

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

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

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

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

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

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

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

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

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

* Performed analytical procedures to identify any unusual or unexpected relationships;

*Tested journal entries to identify unusual transactions;

*Assessed whether judgements and assumptions made in determining the accounting estimates set out in note 2 were indicative of potential bias; and

*Investigated the rationale behind significant or unusual transactions.

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

*Agreeing financial statement disclosures to underlying supporting documentation;

*Reading the minutes of meetings of those charged with governance, concealment or collusion.

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

*Reviewing correspondence with HMRC, relevant regulators, including the Health and Safety Executive, and the company's legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error, as they may involve deliberate concealment or collusion.

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

Use of our report

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

S Paramaguru (Senior Statutory Auditor)

for and on behalf of Param & Company Ltd

Chartered Certified Accountants

Statutory Auditors

44 - 50 The Broadway

Southall

Middlesex

UB1 1QB

29 September 2025

TURNOVER

8,885,404

7,633,823

Cost of sales

6,664,902

5,474,145

GROSS PROFIT

2,220,502

2,159,678

Administrative expenses

2,017,580

1,544,940

OPERATING PROFIT

4

202,922

614,738

Interest receivable and similar income

24,000

14,000

226,922

628,738

Interest payable and similar expenses

5

318,133

577,343

(LOSS)/PROFIT BEFORE TAXATION

(91,211

)

51,395

Tax on (loss)/profit

6

197,712

48,511

(LOSS)/PROFIT FOR THE FINANCIAL YEAR

(288,923

)

2,884

(LOSS)/PROFIT FOR THE YEAR

(288,923

)

2,884

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(288,923

)

2,884

FIXED ASSETS

Tangible assets

7

8,181,871

7,568,136

CURRENT ASSETS

Stocks

8

6,050

5,500

Debtors

9

3,074,233

2,177,578

Cash at bank and in hand

73,408

79,602

3,153,691

2,262,680

CREDITORS

Amounts falling due within one year

10

4,535,963

2,906,545

NET CURRENT LIABILITIES

(1,382,272

)

(643,865

)

TOTAL ASSETS LESS CURRENT LIABILITIES

6,799,599

6,924,271

CREDITORS

Amounts falling due after more than one year

11

(5,737,589

)

(5,771,050

)

PROVISIONS FOR LIABILITIES

15

(316,998

)

(119,286

)

NET ASSETS

745,012

1,033,935

CAPITAL AND RESERVES

Called up share capital

16

50,100

50,100

Share premium

17

197,664

197,664

Revaluation reserve

17

443,003

443,003

Retained earnings

17

54,245

343,168

SHAREHOLDERS' FUNDS

745,012

1,033,935

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

Mr N B Suresparan - Director

Called up

share

Retained

Share

Revaluation

Total

capital

earnings

premium

reserve

equity

£

£

£

£

£

Balance at 1 January 2023

50,100

340,284

197,664

443,003

1,031,051

Changes in equity

Total comprehensive income

-

2,884

-

-

2,884

Balance at 31 December 2023

50,100

343,168

197,664

443,003

1,033,935

Changes in equity

Total comprehensive income

-

(288,923

)

-

-

(288,923

)

Balance at 31 December 2024

50,100

54,245

197,664

443,003

745,012

Cash flows from operating activities

Cash generated from operations

1

473,012

743,227

Interest paid

(316,555

)

(577,343

)

Interest element of finance lease payments paid

(1,578

)

-

Net cash from operating activities

154,879

165,884

Cash flows from investing activities

Purchase of tangible fixed assets

(885,667

)

(487,495

)

Interest received

24,000

14,000

Net cash from investing activities

(861,667

)

(473,495

)

Cash flows from financing activities

Loan repayments in year

(132,275

)

(122,893

)

Capital repayments in year

113,167

-

Amount introduced by directors

1,962

-

Amount received from (paid) to grp/assoc

717,740

426,134

Net cash from financing activities

700,594

303,241

Decrease in cash and cash equivalents

(6,194

)

(4,370

)

Cash and cash equivalents at beginning of year

2

79,602

83,972

Cash and cash equivalents at end of year

2

73,408

79,602

1.	RECONCILIATION OF (LOSS)/PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2024

2023

£

£

(Loss)/profit before taxation

(91,211

)

51,395

Depreciation charges

271,932

151,683

Finance costs

318,133

577,343

Finance income

(24,000

)

(14,000

)

474,854

766,421

Increase in stocks

(550

)

(180

)

Increase in trade and other debtors

(450,234

)

(289,926

)

Increase in trade and other creditors

448,942

266,912

Cash generated from operations

473,012

743,227

2.	CASH AND CASH EQUIVALENTS

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

Year ended 31 December 2024

31.12.24

1.1.24

£

£

Cash and cash equivalents

73,408

79,602

Year ended 31 December 2023

31.12.23

1.1.23

£

£

Cash and cash equivalents

79,602

83,972

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1.1.24

Cash flow

At 31.12.24

£

£

£

Net cash

Cash at bank and in hand

79,602

(6,194

)

73,408

79,602

(6,194

)

73,408

Debt

Finance leases

-

(113,167

)

(113,167

)

Debts falling due within 1 year

(144,600

)

(9,947

)

(154,547

)

Debts falling due after 1 year

(5,771,050

)

142,221

(5,628,829

)

(5,915,650

)

19,107

(5,896,543

)

Total

(5,836,048

)

12,913

(5,823,135

)

1.	STATUTORY INFORMATION

Priory Court Developments 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 Company 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.

Turnover represents net invoiced care home fees and is recognised per night that a room is occupied.

Turnover is deferred where amounts have been invoiced, but these relate to services to be provided in future periods.

Turnover is accrued where amounts have yet to be invoiced, but where the services have been provided in the period to date.

Going concern

The Directors are confident that the company has adequate resources to continue operational existence for the foreseeable future. In consideration of going concern, the directors continually review the company's future cashflow forecasts and profit projections, on both a base case and sensitized basis, considering the principal risks and uncertainties that may arise. These forecasts have been prepared based on market data, experience trading within the sector and anticipated future trading. There is nothing to indicate from these forecasts that the company would not be able to continue successfully as a going concern in the future.

Tangible fixed assets

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

Freehold property

-

2% on cost

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Freehold premises are stated at cost in the balance sheet.

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives.

Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

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

3.	EMPLOYEES AND DIRECTORS

2024

2023

£

£

Wages and salaries

4,965,034

4,055,413

Social security costs

417,424

334,283

Other pension costs

83,973

93,838

5,466,431

4,483,534