Holmleigh Care Homes Limited - Period Ending 2025-03-31

Registration number: 04022083

Holmleigh Care Homes Limited

Annual Report and Financial Statements

for the Period from 1 May 2024 to 31 March 2025

Holmleigh Care Homes Limited

Contents

Company Information	1
Strategic Report	2
Directors' Report	3 to 6
Statement of Directors' Responsibilities	7
Independent Auditor's Report	8 to 10
Profit and Loss Account	11
Balance Sheet	12
Statement of Changes in Equity	13
Notes to the Financial Statements	14 to 25

Holmleigh Care Homes Limited

Company Information

Directors

R W Correia

P Kinsey

Y Murray

J Strange

M L Western

D R McCartney

A W Jones

Registered office

Unit 1
Castleton Court Fortran Road
St. Mellons
Cardiff
CF3 0LT

Auditors

Hazlewoods LLP
Windsor House
Bayshill Road
Cheltenham
GL50 3AT

Holmleigh Care Homes Limited

Strategic Report for the Period from 1 May 2024 to 31 March 2025

The directors present their strategic report for the period from 1 May 2024 to 31 March 2025. The comparative period is for the year ended 30 April 2024.

Principal activity

The principal activity of the company is the provision of residential and supporting people care for persons with learning disabilities and domiciliary care to the elderly.

Fair review of the business

The results for the year which are set out in the profit and loss account show turnover of £20,012,166 (2024 - £21,148,830) and an operating profit of £3,643,980 (2024 - £3,389,686). At 31 March 2025 the company had net assets of £13,584,058 (2024 - £12,891,262). The directors consider the performance for the year and the financial position at the year end to be satisfactory.

Given the nature of the business, the company's directors are of the opinion that key performance indicators are important. The company uses a number of indicators to monitor and improve development, performance or the position of the business. Indicators are reviewed and altered to meet changes both in the internal and external environments. The directors do not consider the inclusion of an analysis using key performance indicators to be necessary to assist users of the financial statements in their understanding of the financial performance or position of the company.

Principal risks and uncertainties

The management of the business and the execution of the company's strategy are subject to a number of risks. The key business risks and uncertainties affecting the company are considered to relate to the continued provision of adequate government funding for the services which the company delivers.

Approved by the Board on 15 October 2025 and signed on its behalf by:

A W Jones
Director

Holmleigh Care Homes Limited

Directors' Report for the Period from 1 May 2024 to 31 March 2025

The directors present their report and the financial statements for the period from 1 May 2024 to 31 March 2025.

Directors of the company

The directors who held office during the period were as follows:

R W Correia

P Kinsey

Y Murray

C I Saunders (ceased 30 September 2024)

J Strange

M L Western

A W Jones (appointed 2 January 2025)

The following director was appointed after the period end:

D R McCartney (appointed 1 April 2025)

Future developments

The external environment is expected to remain competitive in 2024/25, however the directors remain confident that they will continue to improve the future performance of the business.

Financial instruments

Objectives and policies

The board constantly monitors the company's trading results and revise projections as appropriate to ensure that the company can meet its future obligations as they fall due.

Price risk, credit risk, liquidity risk and cash flow risk

The company is exposed to the usual credit and cash flow risks associated with selling on credit and manages this through credit control procedures.

The company has sufficient resources available and the directors have prepared forecasts for the next 12 months that indicate that this will continue to be the case and that these cash flows will be sufficient for the company to meet its financing commitments as they fall due. The directors therefore have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and have continued to adopt the going concern basis in preparing the financial statements.

Employment of disabled persons

The comany's policy is to recruit disabled workers for those vacancies that they are able to fill. All necessary assistance with initial training courses is given. Once employed, a career plan is developed so as to ensure suitable opportunities for each disabled person. Arrangements are made, wherever possible, for retraining employees who become disabled, to enable them to perform work identified as appropriate to their aptitudes and abilities.

Employee involvement

The company encourages the involvement of employees in its management through regular departmental meetings.

The company policy is to consult and discuss with employees, through staff councils and at meetings, matters likely to affect employees' interests.

Information on matters of concern to employees is given through information bulletins and reports which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the group's performance.

Holmleigh Care Homes Limited

Directors' Report for the Period from 1 May 2024 to 31 March 2025

Section 172 statement
The directors believe that they have effectively implemented their duties under section 172 of the Companies Act 2006. The company has considered the long term-strategy of the business and consider that this strategy will continue to deliver long term success to the business and it's stakeholders.

The company is committed to maintaining an excellent reputation and strives to achieve high standards. We are highly selective about the employees that we take on in order to deliver the best value to service users while also maintaining an awareness of the environmental impact of the work done, and strive to reduce carbon footprint where possible.

The directors recognise the importance of wider stakeholders in delivering their strategy and achieving sustainability within the business. The main stakeholders in the company are considered to be the employees, suppliers and service users.

In ensuring that all stakeholders are considered as part of every decision process, we believe we act fairly between all members of the company.

Streamlined Energy and Carbon Reporting (SECR)

This report was undertaken in accordance with the Streamlined Energy and Carbon (“SECR”) Reporting requirements outlined in the Companies Act (2006) for large quoted and unlisted companies which requires Ocean Community Services to report on its Greenhouse Gas (GHG) emissions.

This report contains details on annual GHG emissions, total energy consumption for Holmleigh Care Homes Limited (HCH) covering our offices, transport assets, and energy efficiency and environmental management actions implemented during the financial year.

Methodology

Scope of analysis and data collection
Holmleigh Care Homes Ltd annual CO2e for the year 2024 to 2025. It should be noted the reports reflects the period May 2024 to March 2025 to align the movement in our accounting year. This report contains details on annual GHG emissions, total energy consumption for Holmleigh Care Homes Ltd covering our offices, transport assets, and energy efficiency and environmental management actions implemented during the financial year. This is the first such report for Holmleigh Care Homes.

Calculation Methodology
We have used the Greenhouse Gas Protocol Corporate Reporting Standard (GHG Protocol) methodology for compiling this GHG data and have calculated our GHG emissions in accordance with the UK Government’s reporting guidelines for Company Reporting. To ensure consistency in our reporting we are reporting all GHG emissions in units of CO2e (carbon dioxide equivalent) and have used 2024 GHG Conversion Factors for Company Reporting, published annually by Defra and DESNZ.

GHG Emissions Scopes
The following reporting scopes (as outlined by the Greenhouse Gas Protocol) are included within this disclosure:

Scope 1 GHG Emissions: direct emissions from sources which HCH owns or controls. This includes natural gas consumption in our offices and company cars.
Scope 2 GHG Emissions: indirect emissions relating solely to the generation of purchased electricity that is consumed by HCH.
Scope 3 GHG Emissions: indirect emissions relating to the transmission and distribution of purchased electricity and business travel by employee-owned vehicles (Grey Fleet).

Energy Consumption

The table below displays our annual energy consumption for electricity, natural gas, and business travel for the 2024/25 financial year (1 May 2024 - 31 March 2025). As per SECR reporting requirements this information is presented in kilowatt hours (kWh).

Holmleigh Care Homes Limited

Directors' Report for the Period from 1 May 2024 to 31 March 2025

Emissions Source	GHG Scope	Reporting units	Total Energy FY25 (kWh)	Percentage %
Natural Gas	Scope 1	Kilowatt hour (kWh)	1,525,172	60
Electricity	Scopes 2 & 3	Kilowatt hour (kWh)	562,962	22
Company Cars	Scope 1	Kilowatt hour (kWh)	236,312	9
Hire Car/Grey Fleet Travel	Scope 3	Kilowatt hour (kWh)	207,437	8
Total			2,531,883

Vehicle Category

Vehicle size

Annual fuel consumption (litres)

Annual distance (miles)

Scope 1 GHG emissions (tCO2e)

Scope 3 GHG emissions (tCO2e)

Equivalent energy consumption (kWh)

Company Petrol Vehicles

Average petrol car

1,100

-

2.29

-

10,670

Company Diesel Vehicles

Average diesel car

21,088

-

52.99

-

225,642

Mileage

Average car

-

186,353

-

50.05

207,437

Total

22,188

186,353

55.28

50.05

443,749

Grid electricity (Scope 2&3) Electricty supplied through the mains network

Natural Gas (Scope 1) Gas supplied through mains network

Unit

Consumption (kWh)

Scope 2 Generation GHG emissions (tCO2e)

Scope 3 Transmission & Distribution GHG emissions (tCO2e)

Consumption (kWh)

Scope 1 Generation GHG emissions (tCO2e)

Holmleigh Care Homes

562,962

53.42

4.72

1,525,172

278.95

Total

562,962

53.42

4.72

1,525,172

278.95

GHG Emissions Reporting
In accordance with the SECR emissions reporting requirements outlined in the Companies Act for large companies our GHG disclosure for the 2024/25 financial year is listed below. Results have been split by Scope as outlined by the GHG Protocol calculation methodology.

GHG Emissions Scope	Reporting Units	FY 2025	Percentage Split (%)
Scope 1	Tonnes CO2e	279	41
Scope 2 & 3	Tonnes CO2e	58	41
Scope 2	Tonnes CO2e	55	16
Scope 3	Tonnes CO2e	51	2
Total GHG Emissions	Tonnes CO2e	443
GHG Emissions per FTE	Tonnes CO2e	1.19

Holmleigh Care Homes Limited

Directors' Report for the Period from 1 May 2024 to 31 March 2025

Total GHG emissions for Scope 1, Scope 2, and Scope 3 for the eleven-month period to 31st March 2025 442.88 tonnes CO2e. Of our total GHG emissions Scope 1 accounts for 69.6%, Scope 2 accounts for 22.2%, and Scope 3 accounts for 8.2%. Our GHG emissions intensity per employee (FTE) is 1.19 tonnes CO2e. These results will act as our baseline GHG emissions which will be used as a benchmark for future performance to be compared against for SECR.

Energy Efficiency & Environmental Management

During the reporting year Ocean Community Services has been focusing upon enhancing our current environmental and carbon management programmes. We have actively retrofitted and are continuing to retrofit our sites with LED lighting upgrades and more efficient boilers to lower our overall energy consumption and increase efficiency. To compliment these upgrades, we have installed improved weatherproofing, insulation, and undertaken replacement of windows and doors to further improve heat retention and energy efficiency.

Disclosure of information to the auditors

Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.

Reappointment of auditors

Hazlewoods LLP have expressed their willingness to continue in office.

Approved by the Board on 15 October 2025 and signed on its behalf by:

A W Jones
Director

Holmleigh Care Homes Limited

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with 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 apply them consistently;

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

•	state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

•	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.

Holmleigh Care Homes Limited

Independent Auditor's Report to the Members of Holmleigh Care Homes Limited

Opinion

We have audited the financial statements of Holmleigh Care Homes Limited (the 'company') for the period from 1 May 2024 to 31 March 2025, which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity, and 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 March 2025 and of its profit for the period 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 auditor 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 original financial statements were 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 included in the annual report, other than the financial statements and our auditor’s report 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 there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Holmleigh Care Homes Limited

Independent Auditor's Report to the Members of Holmleigh Care Homes Limited

Opinion on other matter 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 Directors' Report for the financial period for which the financial statements are prepared is consistent with the financial statements; and

•	the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our 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 and the Directors' Report.

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 page 7, 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 is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, 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.

Auditor’s 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 an auditor’s report 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.

Extent to which the audit was 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:

We considered the nature of the company’s industry and its control environment and reviewed the company’s documentation of their policies and procedures relating to fraud and compliance with laws and regulations. We also enquired of management about their own identification and assessment of the risks of irregularities.

We obtained an understanding of the legal and regulatory framework that the company operates in and identified the key laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements, including the UK Companies Act and tax legislation, and, those that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company’s ability to operate or to avoid a material penalty.

We discussed among the audit engagement team regarding the opportunities and incentives that may exist within the organisation for fraud and how and where fraud might occur in the financial statements.

Holmleigh Care Homes Limited

Independent Auditor's Report to the Members of Holmleigh Care Homes Limited

In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments; assessed whether the judgments made in accounting estimates are indicative of a potential bias; and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business.

In addition to the above, our procedures to respond to the risks identified included the following:

•	reviewing financial statement disclosures by testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;

•	performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatements due to fraud;

•	enquiring of management concerning actual and potential litigation and claims and instances of non-compliance with laws and regulations; and

•	reading minutes of meetings of those charged with governance.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities is available on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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 an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Simon Worsley (Senior Statutory Auditor)
For and on behalf of Hazlewoods LLP, Statutory Auditor

Windsor House
Bayshill Road
Cheltenham
GL50 3AT

15 October 2025

Holmleigh Care Homes Limited

Profit and Loss Account for the Period from 1 May 2024 to 31 March 2025

	Note	1 May 2024 to 31 March 2025 £	Year ended 30 April 2024 £
Turnover	3	20,012,166	21,148,830
Cost of sales		(12,331,981)	(13,148,101)
Gross profit		7,680,185	8,000,729
Administrative expenses		(3,953,061)	(4,479,028)
Exceptional items	5	(83,144)	(132,015)
Operating profit	4	3,643,980	3,389,686
Other interest receivable and similar income	6	750,000	1,500,000
Interest payable and similar charges	7	(19,632)	(14,229)
Profit before tax		4,374,348	4,875,457
Taxation	10	(1,072,246)	(546,778)
Profit for the financial period		3,302,102	4,328,679

The above results were derived from continuing operations.

The company has no recognised gains or losses for the period other than the results above.

Holmleigh Care Homes Limited

(Registration number: 04022083)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	11	156,745	184,549
Tangible assets	12	10,621,133	10,803,963
Investments	13	444,079	444,079
		11,221,957	11,432,591
Current assets
Debtors	14	7,088,455	4,212,845
Cash at bank and in hand		442,515	1,822,359
		7,530,970	6,035,204
Creditors: Amounts falling due within one year	15	(4,208,857)	(3,753,679)
Net current assets		3,322,113	2,281,525
Total assets less current liabilities		14,544,070	13,714,116
Creditors: Amounts falling due after more than one year	15	(54,248)	(43,837)
Provisions for liabilities	10	(905,764)	(788,323)
Net assets		13,584,058	12,881,956
Capital and reserves
Called up share capital	18	2	2
Profit and loss account		13,584,056	12,881,954
Shareholders' funds		13,584,058	12,881,956

Approved and authorised by the Board on 15 October 2025 and signed on its behalf by:

A W Jones
Director

Holmleigh Care Homes Limited

Statement of Changes in Equity for the Period from 1 May 2024 to 31 March 2025

	Share capital £	Profit and loss account £	Total £
At 1 May 2024	2	12,881,954	12,881,956
Profit for the period	-	3,302,102	3,302,102
Dividends	-	(2,600,000)	(2,600,000)
At 31 March 2025	2	13,584,056	13,584,058

Share capital
£

Profit and loss account
£

Total
£

At 1 May 2023

2

14,753,275

14,753,277

Profit for the period

-

4,328,679

4,328,679

Dividends

-

(6,200,000)

(6,200,000)

At 30 April 2024

2

12,881,954

12,881,956

Holmleigh Care Homes Limited

Notes to the Financial Statements for the Period from 1 May 2024 to 31 March 2025

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 1
Castleton Court Fortran Road
St. Mellons
Cardiff
CF3 0LT
Wales

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Summary of disclosure exemptions

The company has not presented a cash flow statement on the grounds that the company is a wholly owned subsidiary and a group cash flow statement is included in the financial statements of the ultimate parent company.

Name of parent of group

These financial statements are consolidated in the financial statements of Iris Care Group Limited.

The financial statements of Iris Care Group Limited may be obtained from Companies House.

Group accounts not prepared

The company has taken advantage of the exemption in section 398 of the Companies Act 2006 from the requirement to prepare consolidated financial statements, on the grounds that consolidated accounts are included higher up in the group structure.

Disclosure of long or short period

The financial statements cover a period of 335 days. The accounting period has been shortened to bring the year end in line with that of its ultimate parent undertaking, Iris Care Group Limited.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Holmleigh Care Homes Limited

Notes to the Financial Statements for the Period from 1 May 2024 to 31 March 2025

Changes in accounting policy

The following have been applied for the first time from 1 May 2024 and have had an effect on the financial statements:

Early Adoption of Amendments to FRS102

The company has chosen to early adopt the amendments to FRS 102 issued in September 2024.

The amendments to FRS 102 have revised the accounting for leases which has had the following impact:

Right of use assets as at 31 March 2025 - £64,411 (on transition as at 1 May 2024 - £81,692)
Lease liabilities as at 31 March 2025 - £66,898 (on transition as at 1 May 2024 - £81,692)
Impact of profit and loss account for the period 1 May 2024 to 31 March 2025 - loss of £2,487.

The amendments to FRS 102 have introduced changes to revenue recognition policies and fair value measurement requirements. The company has early adopted these amendments with them having no impact on the financial statements.

Judgements and estimation uncertainty

These financial statements do not contain any significant judgements or estimation uncertainty.

Revenue recognition

Turnover represents amounts receivable during the year for the provision of care services. Where the amount
received relates to a period which covers the balance sheet date, it is apportioned over the period to which it
relates.

Tax

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

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

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Freehold property	1% on cost
Leasehold land and buildings	Over the term of the lease
Furniture, fittings and equipment	15% reducing balance/33% on cost
Motor vehicles	25% reducing balance
Freehold land	Nil

Holmleigh Care Homes Limited

Notes to the Financial Statements for the Period from 1 May 2024 to 31 March 2025

Intangible assets

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date.

Negative goodwill arising on an acquisition is recognised on the face of the balance sheet on the acquisition date and subsequently the excess up to the fair value of non-monetary assets acquired is recognised in profit or loss in the periods in which the non-monetary assets are recovered.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	5% - 7.5% on cost
Software costs	25% on cost

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Holmleigh Care Homes Limited

Notes to the Financial Statements for the Period from 1 May 2024 to 31 March 2025

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Assets held under operating leases are recognised as right of use assets. These assets are depreciated on a straight- line basis over the lease term. The corresponding liability is included in the Balance sheet as a lease liability.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Holmleigh Care Homes Limited

Notes to the Financial Statements for the Period from 1 May 2024 to 31 March 2025

Financial instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

The recoverable amount of goodwill is derived from measurement of the present value of the future cash flows of the cash-generating units ('CGUs') of which the goodwill is a part. Any impairment loss in respect of a CGU is allocated first to the goodwill attached to that CGU, and then to other assets within that CGU on a pro-rata basis.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. Where a reversal of impairment occurs in respect of a CGU, the reversal is applied first to the assets (other than goodwill) of the CGU on a pro-rata basis and then to any goodwill allocated to that CGU.

For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Revenue

The total turnover of the company has been derived from its principal activity wholly undertaken in the United Kingdom.

Holmleigh Care Homes Limited

Notes to the Financial Statements for the Period from 1 May 2024 to 31 March 2025

Operating profit

Arrived at after charging/(crediting)

	1 May 2024 to 31 March 2025 £	Year ended 30 April 2024 £
Depreciation expense	547,125	561,200
Amortisation expense	28,524	68,505
Operating lease expense - property	269,172	348,732
Operating lease expense - plant and machinery	177	4,079

Exceptional items

1 May 2024 to 31 March 2025
£

Year ended 30 April 2024
£

Exceptional expenses

83,144

132,015

Exceptional costs in the current year relate to non-recurring expenses for staff costs and one-off legal and professional fees incurred.

Exceptional costs in the prior year relate to non-recurring expenses for staff costs.

Other interest receivable and similar income

	1 May 2024 to 31 March 2025 £	Year ended 30 April 2024 £
Dividend income	750,000	1,500,000

Interest payable and similar expenses

	1 May 2024 to 31 March 2025 £	Year ended 30 April 2024 £
Interest on obligations under finance leases and hire purchase contracts	12,109	7,149
Interest payable to parent company	7,523	7,080
	19,632	14,229

Holmleigh Care Homes Limited

Notes to the Financial Statements for the Period from 1 May 2024 to 31 March 2025

Staff costs

The aggregate payroll costs (including directors' remuneration) were as follows:

	1 May 2024 to 31 March 2025 £	Year ended 30 April 2024 £
Wages and salaries	10,863,004	10,894,462
Social security costs	1,093,044	999,734
Pension costs, defined contribution scheme	203,285	196,791
	12,159,333	12,090,987

The average number of persons employed by the company (including directors) during the period, analysed by category was as follows:

	1 May 2024 to 31 March 2025 No.	Year ended 30 April 2024 No.
Administration and support	45	46
Care	384	366
	429	412

Auditors' remuneration

	1 May 2024 to 31 March 2025 £	Year ended 30 April 2024 £
Audit of the financial statements	9,000	8,500

10

Taxation

Tax charged/(credited) in the profit and loss account

	1 May 2024 to 31 March 2025 £	Year ended 30 April 2024 £
Current taxation
UK corporation tax	835,349	-
UK corporation tax adjustment to prior periods	119,456	299,405
	954,805	299,405
Deferred taxation
Arising from origination and reversal of timing differences	117,441	247,373
Tax expense in the income statement	1,072,246	546,778

Holmleigh Care Homes Limited

Notes to the Financial Statements for the Period from 1 May 2024 to 31 March 2025

The tax on profit before tax for the period is lower than the standard rate of corporation tax in the UK (2024 - lower than the standard rate of corporation tax in the UK) of 25% (2024 - 25%).

The differences are reconciled below:

	1 May 2024 to 31 March 2025 £	Year ended 30 April 2024 £
Profit before tax	4,374,348	4,875,457
Corporation tax at standard rate	1,093,587	1,218,864
Effect of expense not deductible in determining taxable profit (tax loss)	494	302
Increase in UK and foreign current tax from unrecognised temporary difference from a prior period	-	140,767
Increase in UK and foreign current tax from adjustment for prior periods	119,456	299,405
Tax increase from effect of capital allowances and depreciation	46,209	83,735
Tax decrease arising from group relief	-	(833,446)
Tax decrease from effect of dividends from UK companies	(187,500)	(375,000)
Tax increase from effect of indexation allowance on capital gains	-	12,151
Total tax charge	1,072,246	546,778

Deferred tax

Deferred tax assets and liabilities

2025	Liability £
Accelerated capital allowances	914,833
Other short-term timing differences	(9,069)
	905,764

2024	Liability £
Accelerated capital allowances	797,392
Other short-term timing differences	(9,069)
	788,323

Intangible assets

	Goodwill £	Other intangible assets £	Total £
Cost
At 1 May 2024	1,193,582	310,517	1,504,099
Additions	-	720	720
At 31 March 2025	1,193,582	311,237	1,504,819
Amortisation
At 1 May 2024	1,193,582	125,968	1,319,550
Amortisation charge	-	28,524	28,524
At 31 March 2025	1,193,582	154,492	1,348,074
Carrying amount
At 31 March 2025	-	156,745	156,745
At 30 April 2024	-	184,549	184,549

Holmleigh Care Homes Limited

Notes to the Financial Statements for the Period from 1 May 2024 to 31 March 2025

Tangible assets

	Land and buildings £	Furniture, fittings and equipment £	Motor vehicles £	Right of use assets £	Total £
Cost
At 1 May 2024	10,126,816	4,163,926	368,782	-	14,659,524
Additions	68,517	685,233	49,075	81,692	884,517
Disposals	(586,627)	-	(25,795)	-	(612,422)
At 31 March 2025	9,608,706	4,849,159	392,062	81,692	14,931,619
Depreciation
At 1 May 2024	1,581,186	2,109,886	164,489	-	3,855,561
Charge for the year	128,826	349,929	51,089	17,281	547,125
Eliminated on disposal	(69,231)	-	(22,969)	-	(92,200)
At 31 March 2025	1,640,781	2,459,815	192,609	17,281	4,310,486
Carrying amount
At 31 March 2025	7,967,925	2,389,344	199,453	64,411	10,621,133
At 30 April 2024	8,545,630	2,054,040	204,293	-	10,803,963

Included within the net book value of land and buildings above is £7,480,591 (2024 - £7,999,963) in respect of freehold land and buildings, and £487,334 (2024 - £547,917) in respect of short leasehold land and buildings.

Freehold land of £2,133,445 (2024 - £2,133,445) is not depreciated.

The amendments to FRS 102 have revised the accounting for leases. The company has early adopted these amendments, leading to the recognition of right of use assets with a net book value of £81,692 on transition as at 1 May 2024 and subsequently £64,411 as at 31 March 2025. Right of use assets relate entirely to leasehold properties which the company leases for use in its operations. See note 2 for more details.

Hire purchase agreements
Included within the net book value is £63,230 (2024 - £85,322) relating to assets held under hire purchase agreements. The depreciation charge to the financial statements in the year in respect of such assets amounted to £28,440 (2024 - £32,642).

- 22 -

Holmleigh Care Homes Limited

Notes to the Financial Statements for the Period from 1 May 2024 to 31 March 2025

Investments

	31 March 2025 £	30 April 2024 £
Investments in subsidiaries	444,079	444,079

Subsidiaries

£

Cost and carrying amount

At 1 May 2024 and at 31 March 2025

444,079

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2025

2024

Subsidiary undertakings

Holmleigh Properties (Gloucester) Limited

England and Wales

Ordinary

100%

Holmleigh (Pirton) Limited

England and Wales

Ordinary

100%

Cathedral Care (Gloucester) Limited

England and Wales

Ordinary

100%

Subsidiary undertakings

Holmleigh Properties (Gloucester) Limited

The principal activity of Holmleigh Properties (Gloucester) Limited is property development for the care sector.

Holmleigh (Pirton) Limited

The principal activity of Holmleigh (Pirton) Limited is the provision of residential care for persons with learning disabilities.

Cathedral Care (Gloucester) Limited

The principal activity of Cathedral Care (Gloucester) Limited is residential care services.

Debtors

	31 March 2025 £	30 April 2024 £
Trade debtors	1,276,799	1,243,038
Amounts owed by group undertakings	4,866,682	2,673,272
Other debtors	552,527	9,515
Prepayments and accrued income	392,447	287,020
	7,088,455	4,212,845

Holmleigh Care Homes Limited

Notes to the Financial Statements for the Period from 1 May 2024 to 31 March 2025

Creditors

	Note	31 March 2025 £	30 April 2024 £
Due within one year
Loans and borrowings	16	55,996	29,638
Trade creditors		594,501	701,690
Amounts due to group undertakings		295,097	295,097
Social security and other taxes		561,376	493,247
Outstanding defined contribution pension costs		99,322	88,217
Other creditors		1,307,766	846,632
Accrued expenses		381,390	614,779
Corporation tax liability	10	431,483	309,687
Deferred income		481,926	374,692
		4,208,857	3,753,679
Due after one year
Loans and borrowings	16	54,248	43,837

Loans and borrowings

Current loans and borrowings

	31 March 2025 £	30 April 2024 £

Hire purchase liabilities	29,475	29,638
Lease liabilities	26,521	-
	55,996	29,638

Non-current loans and borrowings

	31 March 2025 £	30 April 2024 £

Hire purchase liabilities	13,871	43,837
Lease liabilities	40,377	-
	54,248	43,837

Hire purchase liabilities are secured on the assets to which they relate.

The amendments to FRS 102 have revised the accounting for leases. The company has early adopted these amendments, leading to the recognition of lease liabilities with a carrying value of £81,692 on transition as at 1 May 2024 and subsequently £66,898 as at 31 March 2025. Interest of £5,556 has been recognised for the period 1 May 2024 to 31 March 2025 using an interest rate of 7.6% with a cash outflow for the same period of £20,350. A lease liability of £26,521 is due within one year and £40,377 is due within 1-5 years. See note 2 for more details.

Holmleigh Care Homes Limited

Notes to the Financial Statements for the Period from 1 May 2024 to 31 March 2025

Pension and other schemes

Defined contribution pension scheme

The company operates a defined contribution pension scheme. The pension cost charge for the period represents contributions payable by the company to the scheme and amounted to £203,285 (2024 - £196,791).

Contributions totalling £99,322 (2024 - £88,217) were payable to the scheme at the end of the period and are included in creditors.

Share capital

Allotted, called up and fully paid shares

	31 March 2025		30 April 2024
	No.	£	No.	£
A Ordinary shares of £0.10 each	3	-	3	-
B Ordinary shares of £0.10 each	3	-	3	-
C Ordinary shares of £0.10 each	10	1	10	1
D Ordinary shares of £0.10 each	2	-	2	-
E Ordinary shares of £0.10 each	2	-	2	-
	20	2	20	2

Rights, preferences and restrictions

All shares rank pari passu in all respects, other than dividend rights.

Dividends

	31 March 2025 £	30 April 2024 £
Dividends paid	2,600,000	6,200,000

Contingent liabilities

The company is bound by an intra-group cross guarantee in respect of bank debt with other members of the group at the balance sheet date. The amount guaranteed is £75,750,000 (2024 - £25,000,000).

Related party transactions

Summary of transactions with key management

Key management personnel are considered to be the directors of the company. Directors' remuneration has been borne by a connected party.

Parent and ultimate parent undertaking

The company's immediate parent is Iris Care Group (England) Limited, incorporated in England and Wales.

The company's ultimate parent undertaking is Iris Care Group Limited, incorporated in England and Wales.

The ultimate controlling party is funds managed by Ancala Care LLP, a limited liability partnership registered in England and Wales.

Vehicle Category	Vehicle size	Annual fuel consumption (litres)	Annual distance (miles)	Scope 1 GHG emissions (tCO2e)	Scope 3 GHG emissions (tCO2e)	Equivalent energy consumption (kWh)
Company Petrol Vehicles	Average petrol car	1,100	-	2.29	-	10,670
Company Diesel Vehicles	Average diesel car	21,088	-	52.99	-	225,642
Mileage	Average car	-	186,353	-	50.05	207,437
Total		22,188	186,353	55.28	50.05	443,749

	Grid electricity (Scope 2&3) Electricty supplied through the mains network			Natural Gas (Scope 1) Gas supplied through mains network
Unit	Consumption (kWh)	Scope 2 Generation GHG emissions (tCO2e)	Scope 3 Transmission & Distribution GHG emissions (tCO2e)	Consumption (kWh)	Scope 1 Generation GHG emissions (tCO2e)
Holmleigh Care Homes	562,962	53.42	4.72	1,525,172	278.95
Total	562,962	53.42	4.72	1,525,172	278.95

	1 May 2024 to 31 March 2025 £	Year ended 30 April 2024 £
Exceptional expenses	83,144	132,015

Subsidiaries	£
Cost and carrying amount
At 1 May 2024 and at 31 March 2025	444,079