Company registration number 04577158 (England and Wales)
Healey Care Limited
Unaudited financial statements
For the year ended 31 March 2025
Healey Care Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 9
Healey Care Limited
Statement of financial position
As at 31 March 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
4
389,588
444,586
Tangible assets
5
89,679
105,858
479,267
550,444
Current assets
Debtors
6
1,499,175
1,349,041
Cash at bank and in hand
131,481
180,238
1,630,656
1,529,279
Creditors: amounts falling due within one year
7
(572,439)
(584,858)
Net current assets
1,058,217
944,421
Total assets less current liabilities
1,537,484
1,494,865
Creditors: amounts falling due after more than one year
8
(12,747)
(19,600)
Provisions for liabilities
(6,798)
(6,094)
Net assets
1,517,939
1,469,171
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
1,517,839
1,469,071
Total equity
1,517,939
1,469,171
Healey Care Limited
Statement of financial position (continued)
As at 31 March 2025
31 March 2025
- 2 -

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 24 September 2025 and are signed on its behalf by:
Mrs D M McElherron
Director
Company registration number 04577158 (England and Wales)
Healey Care Limited
Notes to the financial statements
For the year ended 31 March 2025
- 3 -
1
Accounting policies
Company information

Healey Care Limited is a private company limited by shares incorporated in England and Wales. The company's registered number is 04577158 and its registered office is The Exchange, 5 Bank Street, Bury, BL9 0DN.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover compromises the aggregate of fair value of the care and accommodation services provided, net of rebates and discounts. Services are recognised as those services are provided to residents.

1.4
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 20 years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.5
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 and fittings
15% reducing balance
Computers
25% on cost
Motor vehicles
25% reducing balance
Healey Care Limited
Notes to the financial statements (continued)
For the year ended 31 March 2025
1
Accounting policies
(Continued)
- 4 -

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 credited or charged to profit or loss.

The residual values, estimated useful lives and depreciation method of property, plant and equipment are reviewed, and adjusted as appropriate, at each statement of financial position date. The effects of any revision are recognised in the income statement when the change arises.

1.6
Impairment of fixed assets

At each reporting period end date, the company 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 (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company 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 company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with 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.

Healey Care Limited
Notes to the financial statements (continued)
For the year ended 31 March 2025
1
Accounting policies
(Continued)
- 5 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9
Equity instruments

Equity instruments issued by the company 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 company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Healey Care Limited
Notes to the financial statements (continued)
For the year ended 31 March 2025
1
Accounting policies
(Continued)
- 6 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
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 statement of financial position 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.

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 lease s asset are consumed.

1.12
Government grants

Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

Government grants relating to turnover are recognised as income over the periods when the related costs are incurred. Grants relating to an asset are recognised in income systematically over the asset's expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the asset's carrying amount.

Healey Care Limited
Notes to the financial statements (continued)
For the year ended 31 March 2025
- 7 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’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 are continually evaluated. Revisions to accounting estimates are recognised in the period in which the estimate is revised.

The estimates and assumptions which have the most significant impact on the carrying values of assets and liabilities are outlined below:

1. Determining the useful like and residual values of property, plant and equipment.

2. Determining the useful economic life of goodwill in calculating an appropriate amortisation charge.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
92
91
4
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2024 and 31 March 2025
1,100,000
Amortisation and impairment
At 1 April 2024
655,414
Amortisation charged for the year
54,998
At 31 March 2025
710,412
Carrying amount
At 31 March 2025
389,588
At 31 March 2024
444,586
Healey Care Limited
Notes to the financial statements (continued)
For the year ended 31 March 2025
- 8 -
5
Tangible fixed assets
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2024
124,501
32,180
83,251
239,932
Additions
20,772
374
-
0
21,146
Disposals
-
0
-
0
(53,029)
(53,029)
At 31 March 2025
145,273
32,554
30,222
208,049
Depreciation and impairment
At 1 April 2024
67,120
22,700
44,254
134,074
Depreciation charged in the year
9,789
4,598
8,707
23,094
Eliminated in respect of disposals
-
0
-
0
(38,798)
(38,798)
At 31 March 2025
76,909
27,298
14,163
118,370
Carrying amount
At 31 March 2025
68,364
5,256
16,059
89,679
At 31 March 2024
57,381
9,480
38,997
105,858
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
81,644
125,095
Other debtors
1,417,531
1,223,946
1,499,175
1,349,041
7
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
68,842
65,263
Taxation and social security
457,792
397,496
Other creditors
45,805
122,099
572,439
584,858
Healey Care Limited
Notes to the financial statements (continued)
For the year ended 31 March 2025
- 9 -
8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
12,747
19,600
9
Security

The following secured debts are included within creditors:

Hire purchase contracts £19,660 (2024: £28,816).

The hire purchase contracts included within creditors are secured against the respective motor vehicles included in property, plant and equipment.

Aib Group (UK) plc holds a fixed and floating charge over the undertaking and all property and assets present and future, including goodwill, books debts, uncalled capital, buildings, fixtures, fixed plant & machinery by way of a mortgage debenture.

10
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
D M McElherron - DLA
-
818,395
379,282
(168,825)
1,028,852
818,395
379,282
(168,825)
1,028,852

These loans are interest free and repayable on demand. The maximum overdrawn balance was £1,028,852 (2024: £818,395).

There were no material advances in the current or prior year.

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