Company registration number 05168466 (England and Wales)
COAST CARE HOMES LTD
ANNUAL REPORT AND GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
COAST CARE HOMES LTD
CONTENTS
Page
Company information
1
Strategic report
2 - 5
Directors' report
6 - 7
Directors' responsibilities statement
8
Independent auditor's report
9 - 12
Group statement of comprehensive income
13
Group balance sheet
14 - 15
Company balance sheet
16 - 17
Group statement of changes in equity
18
Company statement of changes in equity
19
Group statement of cash flows
20
Notes to the financial statements
21 - 36
COAST CARE HOMES LTD
COMPANY INFORMATION
- 1 -
Directors
Ms L Dewhurst
Ms D Henderson
(Appointed 23 December 2024)
Mr W Poore
(Appointed 23 December 2024)
Ms L Sherwood
(Appointed 23 December 2024)
Company number
05168466
Registered office
Unit 26 Churchfields Business Centre
Sidney Little Road
St. Leonards-On-Sea
East Sussex
TN38 9AU
Auditor
TC Group
One Bell Lane
Lewes
East Sussex
BN7 1JU
COAST CARE HOMES LTD
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -

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

Review of the business

Total revenue increased by £1.3m (12.6%) to £11.6m in the year (2023: £10.3m). This improvement was driven mainly by increased occupancy as a result of the purchase of the Bexhill Care Centre early in 2022 which greatly increased the company's operating capacity.

Operating profit decreased by £599k to £941k (2023: £1,540k). The movement in operating profit can be explained as follows:

- a £1,303k (12.6%) increase in overall turnover

- a £1,243k (20.3%) increase in wages and salary costs

- a £67k (11.2%) increase in subcontractor and recruitment costs

- a £31k (54.4%) increase in staff training costs

- a £27k (24.0%) increase in travel and subsistence expenses

- £142k worth of new rental costs

- a £70 (68.6%) increase in light and heat

- a £126k (70.9%) increase in repairs and maintenance

- a £14k (8.9%) increase in equipment hire and leasing

- a £13k (-14.4%) decrease in insurance costs

- a £13k (-32.4%) decrease in advertising and marketing costs

- a £36k (40.8%) increase in vehicle running costs

- a £3k (-9.7%) decrease in subscriptions

- a £115k (94.2%) increase in legal and professional fees

The above increases reflected both the higher occupancy rates and also the higher cost of labour due to scarcity within the care sector, which continued to drive up wage costs and subcontract agency fees within the year. The cash position was negatively impacted during the year by £1,025k to £1,962k (2023: £2,987k) due mainly to the Employee Ownership Trust transactions (please see below), while net current assets increased by £454k compared to 2023, standing at a healthy £2.48m.

Employee Ownership Trust (EOT)

Coast Care Homes Ltd has transitioned to an Employee Ownership Trust (EOT), a strategic decision designed to secure our long-term independence, preserve our core values, and enhance business performance. Key benefits include:

Maintaining Independence: The EOT safeguards against external takeovers, ensuring our business philosophy and values endure.

Boosting Employee Engagement: Employee ownership fosters accountability, commitment, and improved productivity, leading to lower staff turnover and higher job satisfaction.

Attracting Top Talent: The profit-sharing structure and engaged workforce position us as an employer of choice.

COAST CARE HOMES LTD
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -

Strengthening Stakeholder Relationships: Our commitment to ethical and people-focused values resonates with customers and suppliers.

Ensuring Long-Term Stability: The EOT provides consistent leadership and strategic direction, securing the future of Coast Care Homes Ltd.

Principal risks and uncertainties and key performance indicators

The board analyses key risks to the business and monitors exposure to these risks through a series of key performance indicators (KPI’s).

These KPIs are reviewed to ensure that the group is achieving its principle objectives of providing the highest quality of care for residents and patients. At the same time ensuring that the infrastructure is as fully and efficiently utilised as possible to provide appropriate returns to shareholders.

Clinical quality risk

We are committed to the need to provide a consistent level of care. We have invested in a number of key areas to monitor care provision, including a specialist dementia team, clinical development nurses, and a more rigorous program of quality inspections.

The business operates sophisticated levels of performance monitoring with regular reporting to senior management and the board of any potential issues. In addition, a comprehensive program of service audits is undertaken across all homes with reports and resulting action plans being the subject of comprehensive review. Perhaps most importantly, the board encourages a culture of reporting any minor concerns from staff, residents and relatives, all of which are appropriately investigated. There is increased awareness of regulatory changes at board level and regular briefing updates are being used to ensure appropriate knowledge transfer to staff throughout the business.

KPIs used:

- regulatory compliance (both internal and external)

- various indicators of clinical well-being; and

- number of hours for staffing (employed and agency)

Health and safety

We understand the need to provide a safe environment for our staff, residents, their guests, or anyone else on our premises. Everyone in our business has accountability for health and safety, and they are given the necessary tools including training, safety, equipment, and resources to operate safely. Compliance is organised and monitored through a dedicated health and safety team across the business.

KPIs used:

- notable accident frequency; and

- accident statistics.

COAST CARE HOMES LTD
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -

Public spending policy

Continued pressure is being exerted to reduce government and local authority spending, which is manifesting in itself increasingly in the reduction of fees being paid for the care of funded residents. To mitigate this, we undertake robust fee negotiations with the public sector and also focus more on the provision of space to privately funded individuals.

KPIs used:

- average fee rates; and

- occupancy rates and mix.

Employment of staff

Our business thrives on the skills and expertise of the staff we employ. The shortage of appropriate labour is a potential risk to the business, and this is particularly acutely felt with the national shortage of qualified nursing staff. In order to mitigate this risk, the business has a proactive human resources and recruitment team. Continuity of service and care provided to residents is vitally important to the business. In order to ensure high quality care is provided, it is necessary for the business to employ well trained staff and to encourage strong staff retention. To ensure staff have appropriate skills, the business provides on-going statutory and mandatory training to all resident facing staff. Development opportunities are identified and promoted throughout the business to continue to develop staff and encourage staff retention. In addition, the business has procedures in place to ensure continued compliance with UKBA regulations.

KPIs used:

- staff turnover;

- staff training statistics; and

- number of hours for staffing (employed and agency)

Cost base inflation

The principle costs for the successful operation of the business include staff costs, energy and food. All of these areas are subject to ongoing cost pressures in advance of inflation. In order to mitigate these areas, we have a well organised procurement process to source energy and food at the best possible rates. We have a well organised operational structure to ensure that labour is employed as effectively as possible.

KPIs used:

- EBITDA per bed;

- labour hours per resident per day; and

- cost per resident per day.

Occupancy

An inability to maintain and grow occupancy levels of both private and local authority funded residents is a potential risk to the business. In order to mitigate this risk. We have a proactive sales and marketing team who work alongside the operational team to monitor and review occupancy levels.

KPIs used:

- occupancy rates on mix; and

- enquiry levels and conversion rates.

COAST CARE HOMES LTD
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -

Future prospects

We have reviewed the information as it has been made available regarding the UK review of the social care and we remain confident that the changes will not impact the performance of the business. We look forward to continuing to invest in the maintenance and enhancement of our existing homes, as well as growing through the expansion or acquisition of new premium care facilities.

On behalf of the board

Ms D Henderson
Director
1 October 2025
COAST CARE HOMES LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -

The directors present their annual report and financial statements for the year ended 31 December 2024.

Principal activities

The principal activity of the group is the provision of residential nursing care for the elderly. It also provides nursing care services to individuals with specialist care needs. The group strategy is one of continued growth through the extension of existing facilities and, where appropriate, through the acquisition of nursing homes of a suitable quality. The group is focused on increasing its share of the private pay market.

Results and dividends

The results for the year are set out on page 13.

Ordinary dividends were paid amounting to £3,904,610. The directors do not recommend payment of a further dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr K Dewhurst
(Resigned 23 December 2024)
Ms L Dewhurst
Ms D Henderson
(Appointed 23 December 2024)
Mr W Poore
(Appointed 23 December 2024)
Ms L Sherwood
(Appointed 23 December 2024)
Disabled persons

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

Employee involvement

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

Information about 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.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

COAST CARE HOMES LTD
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
Ms D Henderson
Director
1 October 2025
COAST CARE HOMES LTD
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -

The directors are responsible 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 group and company, and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

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

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

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group and company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and 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 group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

COAST CARE HOMES LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF COAST CARE HOMES LTD
- 9 -
Opinion

We have audited the financial statements of Coast Care Homes Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2024 which comprise the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the group's and the parent company's affairs as at 31 December 2024 and of the group's profit for the year then ended;

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

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

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent 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 group's and parent company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

COAST CARE HOMES LTD
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF COAST CARE HOMES LTD
- 10 -

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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. 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 course of 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 our audit:

- the information given in the strategic report and the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the 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 the knowledge and understanding of the group and the parent company and their environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the directors' r eport.

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

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

- the parent company financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of directors' remuneration specified by law are not made; or

- we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, 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 parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the parent company or to cease operations, or have no realistic alternative but to do so.

COAST CARE HOMES LTD
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF COAST CARE HOMES LTD
- 11 -
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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Extent to which the audit was considered capable of detecting irregularities, including fraud

The objectives of our audit, in respect to fraud, are: to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses; and to respond appropriately to fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and its management.

Our approach was as follows:

- We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, and through discussion with the directors and other management (as required by auditing standards), and discussed with the directors and other management the policies and procedures regarding compliance with laws and regulations;

- We considered the legal and regulatory frameworks directly applicable to the financial statements reporting framework (FRS 102 and the Companies Act 2006) and the relevant tax compliance regulations in the UK;

- We considered the nature of the industry, the control environment and business performance, including the key drivers for management’s remuneration;

- We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit;

- We considered the procedures and controls that the company has established to address risks identified, or that otherwise prevent, deter and detect fraud; and how senior management monitors those programmes and controls.

Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk. These procedures included: testing manual journals; reviewing the financial statement disclosures and testing to supporting documentation; performing analytical procedures; and enquiring of management, and were designed to provide reasonable assurance that the financial statements were free from fraud or error.

COAST CARE HOMES LTD
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF COAST CARE HOMES LTD
- 12 -

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities is available on the Financial Reporting Council’s website at https://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.

Nicholas Rawson FCA (Senior Statutory Auditor)
For and on behalf of TC Group
Statutory Auditor
2 October 2025
Office: Lewes
COAST CARE HOMES LTD
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024
- 13 -
2024
2023
Notes
£
£
Turnover
2
11,626,026
10,322,728
Administrative expenses
(10,685,344)
(8,782,923)
Operating profit
3
940,682
1,539,805
Interest receivable and similar income
6
733
731
Interest payable and similar expenses
7
(323,634)
(351,294)
Amounts written off investments
8
-
(28,584)
Profit before taxation
617,781
1,160,658
Tax on profit
9
(203,189)
(316,428)
Profit for the financial year
25
414,592
844,230
Other comprehensive income
Revaluation of tangible fixed assets
-
0
310,700
Total comprehensive income for the year
414,592
1,154,930
Profit for the financial year is all attributable to the owners of the parent company.
Total comprehensive income for the year is all attributable to the owners of the parent company.
COAST CARE HOMES LTD
GROUP BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 14 -
2024
2023
Notes
£
£
£
£
Fixed assets
Goodwill
11
-
0
120,664
Tangible assets
12
536,820
7,451,042
536,820
7,571,706
Current assets
Debtors
15
2,124,694
728,641
Cash at bank and in hand
1,961,869
2,986,953
4,086,563
3,715,594
Creditors: amounts falling due within one year
16
(1,606,263)
(1,688,932)
Net current assets
2,480,300
2,026,662
Total assets less current liabilities
3,017,120
9,598,368
Creditors: amounts falling due after more than one year
17
(2,558,090)
(4,121,512)
Provisions for liabilities
Deferred tax liability
20
108,283
626,957
(108,283)
(626,957)
Net assets
350,747
4,849,899
Capital and reserves
Called up share capital
23
100
100
Revaluation reserve
24
-
0
1,982,746
Profit and loss reserves
25
350,647
2,867,053
Total equity
350,747
4,849,899
COAST CARE HOMES LTD
GROUP BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
31 December 2024
- 15 -

These financial statements have been prepared in accordance with the provisions relating to medium-sized groups.

The financial statements were approved by the board of directors and authorised for issue on 1 October 2025 and are signed on its behalf by:
01 October 2025
Ms D Henderson
Director
Company registration number 05168466 (England and Wales)
COAST CARE HOMES LTD
COMPANY BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 16 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
12
536,820
5,391,042
Investments
13
2
311,896
536,822
5,702,938
Current assets
Debtors
15
2,124,692
1,967,045
Cash at bank and in hand
1,961,869
2,986,953
4,086,561
4,953,998
Creditors: amounts falling due within one year
16
(1,606,263)
(1,688,932)
Net current assets
2,480,298
3,265,066
Total assets less current liabilities
3,017,120
8,968,004
Creditors: amounts falling due after more than one year
17
(2,558,090)
(4,121,512)
Provisions for liabilities
Deferred tax liability
20
108,283
426,250
(108,283)
(426,250)
Net assets
350,747
4,420,242
Capital and reserves
Called up share capital
23
100
100
Revaluation reserve
24
-
0
1,259,397
Profit and loss reserves
25
350,647
3,160,745
Total equity
350,747
4,420,242

As permitted by s408 Companies Act 2006, the c ompany has not presented its own profit and loss account and related notes. The c ompany’s profit for the year was £535,257 (2023 - £872,922 profit).

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

COAST CARE HOMES LTD
COMPANY BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
31 December 2024
- 17 -
The financial statements were approved by the board of directors and authorised for issue on 1 October 2025 and are signed on its behalf by:
01 October 2025
Ms D Henderson
Director
Company registration number 05168466 (England and Wales)
COAST CARE HOMES LTD
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 18 -
Share capital
Revaluation reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 January 2023
100
1,672,046
2,214,073
3,886,219
Year ended 31 December 2023:
Profit for the year
-
-
844,230
844,230
Other comprehensive income:
Revaluation of tangible fixed assets
-
310,700
-
310,700
Total comprehensive income
-
310,700
844,230
1,154,930
Dividends
10
-
-
(191,250)
(191,250)
Balance at 31 December 2023
100
1,982,746
2,867,053
4,849,899
Year ended 31 December 2024:
Profit and total comprehensive income
-
-
414,592
414,592
Dividends
10
-
-
(3,904,610)
(3,904,610)
Transfers
-
-
973,612
973,612
Other movements
-
(1,982,746)
-
(1,982,746)
Balance at 31 December 2024
100
-
0
350,647
350,747
COAST CARE HOMES LTD
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 19 -
Share capital
Revaluation reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 January 2023
100
1,259,397
2,479,073
3,738,570
Year ended 31 December 2023:
Profit and total comprehensive income for the year
-
-
872,922
872,922
Dividends
10
-
-
(191,250)
(191,250)
Balance at 31 December 2023
100
1,259,397
3,160,745
4,420,242
Year ended 31 December 2024:
Profit and total comprehensive income
-
-
535,256
535,256
Dividends
10
-
-
(3,345,354)
(3,345,354)
Other movements
-
(1,259,397)
-
(1,259,397)
Balance at 31 December 2024
100
-
0
350,647
350,747
COAST CARE HOMES LTD
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 20 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
27
140,394
2,022,391
Interest paid
(323,634)
(351,294)
Income taxes paid
(824,907)
(155,132)
Net cash (outflow)/inflow from operating activities
(1,008,147)
1,515,965
Investing activities
Proceeds from disposal of intangibles
(120,664)
-
Purchase of tangible fixed assets
(2,572,354)
(109,490)
Proceeds from disposal of tangible fixed assets
8,408,959
14,356
Interest received
733
731
Net cash generated from/(used in) investing activities
5,716,674
(94,403)
Financing activities
Repayment of bank loans
(1,911,535)
(213,002)
Payment of finance leases obligations
82,534
1,907
Dividends paid to equity shareholders
(3,904,610)
(191,250)
Net cash used in financing activities
(5,733,611)
(402,345)
Net (decrease)/increase in cash and cash equivalents
(1,025,084)
1,019,217
Cash and cash equivalents at beginning of year
2,986,953
1,967,736
Cash and cash equivalents at end of year
1,961,869
2,986,953
COAST CARE HOMES LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 21 -
1
Accounting policies
Company information

Coast Care Homes Ltd (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is Unit 26, Churchfields Business Centre, Sidney Little Road, St. Leonards-On-Sea, East Sussex, TN38 9AU.

The group consists of Coast Care Homes Ltd and all of its subsidiaries.

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.

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, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company Coast Care Homes Ltd together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.

All financial statements are made up to 31 December 2024. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the g roup.

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

Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.

1.3
Going concern

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

1.4
Turnover

Turnover is recognised at the fair value of the consideration received for care services.

COAST CARE HOMES LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 22 -
1.5
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of a business 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 10 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.

1.6
Tangible fixed assets

With the exception of freehold property, property, plant and equipment are stated at cost less accumulated depreciation and any recognised impairment losses. Freehold property is stated in the balance sheet at revalued amounts, being the fair value on the date of revaluation less any subsequent depreciation and impairment losses. Revaluations are performed with sufficient regularity such that the carrying amount does not differ materially from that with could be determined using fair values at the reporting end date.

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:

Freehold land and buildings
2% straight line
Plant and equipment
20% reducing balance
Fixtures and fittings
20% reducing balance
Motor vehicles
20% reducing balance

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

1.7
Fixed asset investments

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

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

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

COAST CARE HOMES LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 23 -
1.8
Impairment of fixed assets

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

The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

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.

1.9
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.

1.10
Financial instruments

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

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

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

COAST CARE HOMES LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 24 -
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 m ethod 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.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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 group after deducting all of its liabilities.

COAST CARE HOMES LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 25 -
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. Amounts 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.

Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

1.11
Equity instruments

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

1.12
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 profit and loss account 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 group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

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.

COAST CARE HOMES LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 26 -
1.13
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.14
Retirement benefits

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

1.15
Leases

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

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

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 d asset are consumed.

2
Turnover and other revenue
2024
2023
£
£
Turnover analysed by class of business
Care services
11,626,026
10,322,728
2024
2023
£
£
Other revenue
Interest income
733
731
COAST CARE HOMES LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 27 -
3
Operating profit
2024
2023
£
£
Operating profit for the year is stated after charging/(crediting):
Fees payable to the group's auditor for the audit of the group's financial statements
15,840
15,840
Depreciation of owned tangible fixed assets
189,147
216,076
Profit on disposal of tangible fixed assets
-
(14,356)
Amortisation of intangible assets
-
28,392
Loss on disposal of intangible assets
120,664
-
Operating lease charges
141,988
13,496
4
Employees

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

Group
Company
2024
2023
2024
2023
Number
Number
Number
Number
Management and administration
34
32
34
32
Domestic and kitchen
52
46
52
46
Maintenance
7
8
7
8
Nurse and care
179
171
179
171
Total
272
257
272
257

Their aggregate remuneration comprised:

Group
Company
2024
2023
2024
2023
£
£
£
£
Wages and salaries
6,761,479
5,635,321
6,761,479
5,635,321
Social security costs
558,721
441,629
558,721
441,629
Pension costs
113,697
89,633
113,697
89,633
7,433,897
6,166,583
7,433,897
6,166,583
COAST CARE HOMES LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 28 -
5
Directors' remuneration
2024
2023
£
£
Remuneration for qualifying services
25,042
18,750
6
Interest receivable and similar income
2024
2023
£
£
Interest income
Interest on bank deposits
733
731
7
Interest payable and similar expenses
2024
2023
£
£
Interest on finance leases and hire purchase contracts
25,387
12,044
Other interest
298,247
339,250
Total finance costs
323,634
351,294
8
Amounts written off investments
2024
2023
£
£
Gain/(loss) on disposal of investments held at fair value
-
(28,584)
9
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
189,046
291,359
Deferred tax
Origination and reversal of timing differences
14,143
25,069
Total tax charge
203,189
316,428
COAST CARE HOMES LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
9
Taxation
(Continued)
- 29 -

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2024
2023
£
£
Profit before taxation
617,781
1,160,658
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 23.52%)
154,445
272,987
Depreciation on assets not qualifying for tax allowances
34,601
30,421
Amortisation on assets not qualifying for tax allowances
-
0
5,394
Super deduction on asset additions
-
0
(17,443)
Movement in deferred taxation
14,143
25,069
Taxation charge
203,189
316,428
10
Dividends
2024
2023
Recognised as distributions to equity holders:
£
£
Final paid
3,904,610
191,250
11
Intangible fixed assets
Group
Goodwill
£
Cost
At 1 January 2024
461,917
Disposals
(283,917)
At 31 December 2024
178,000
Amortisation and impairment
At 1 January 2024
341,253
Disposals
(163,253)
At 31 December 2024
178,000
COAST CARE HOMES LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
11
Intangible fixed assets
(Continued)
- 30 -
Carrying amount
At 31 December 2024
-
0
At 31 December 2023
120,664
Company
Goodwill
£
Cost
At 1 January 2024 and 31 December 2024
178,000
Amortisation and impairment
At 1 January 2024 and 31 December 2024
178,000
Carrying amount
At 31 December 2024
-
0
At 31 December 2023
-
0
12
Tangible fixed assets
Group
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost or valuation
At 1 January 2024
7,204,011
691,162
173,276
251,386
8,319,835
Additions
2,372,338
-
0
154,696
45,320
2,572,354
Disposals
(9,576,349)
-
0
-
0
(4,000)
(9,580,349)
At 31 December 2024
-
0
691,162
327,972
292,706
1,311,840
Depreciation and impairment
At 1 January 2024
205,760
496,549
59,877
106,607
868,793
Depreciation charged in the year
77,160
38,923
41,159
31,905
189,147
Eliminated in respect of disposals
(282,920)
-
0
-
0
-
0
(282,920)
At 31 December 2024
-
0
535,472
101,036
138,512
775,020
Carrying amount
At 31 December 2024
-
0
155,690
226,936
154,194
536,820
At 31 December 2023
6,998,251
194,613
113,399
144,779
7,451,042
COAST CARE HOMES LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
12
Tangible fixed assets
(Continued)
- 31 -
Company
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost or valuation
At 1 January 2024
5,144,011
691,162
173,276
251,386
6,259,835
Additions
2,372,338
-
0
154,696
45,320
2,572,354
Disposals
(7,516,349)
-
0
-
0
(4,000)
(7,520,349)
At 31 December 2024
-
0
691,162
327,972
292,706
1,311,840
Depreciation and impairment
At 1 January 2024
205,760
496,549
59,877
106,607
868,793
Depreciation charged in the year
77,160
38,923
41,159
31,905
189,147
Eliminated in respect of disposals
(282,920)
-
0
-
0
-
0
(282,920)
At 31 December 2024
-
0
535,472
101,036
138,512
775,020
Carrying amount
At 31 December 2024
-
0
155,690
226,936
154,194
536,820
At 31 December 2023
4,938,251
194,613
113,399
144,779
5,391,042

13
Fixed asset investments
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Investments in subsidiaries
14
-
0
-
0
2
311,896
COAST CARE HOMES LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
13
Fixed asset investments
(Continued)
- 32 -
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 January 2024
311,896
Disposals
(311,894)
At 31 December 2024
2
Carrying amount
At 31 December 2024
2
At 31 December 2023
311,896
14
Subsidiaries

Details of the company's subsidiaries at 31 December 2024 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Care Any Time Limited
England & Wales
Ordinary
100.00
15
Debtors
Group
Company
2024
2023
2024
2023
Amounts falling due within one year:
£
£
£
£
Trade debtors
602,226
683,756
602,226
683,756
Other debtors
1,502,472
-
0
1,502,470
1,238,404
Prepayments and accrued income
19,996
44,885
19,996
44,885
2,124,694
728,641
2,124,692
1,967,045
COAST CARE HOMES LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 33 -
16
Creditors: amounts falling due within one year
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Bank loans
18
259,749
571,923
259,749
571,923
Obligations under finance leases
19
88,560
41,965
88,560
41,965
Trade creditors
112,796
117,268
112,796
117,268
Corporation tax payable
142,808
245,852
142,808
245,852
Other taxation and social security
184,235
138,722
184,235
138,722
Deferred income
21
522,911
489,038
522,911
489,038
Other creditors
176,251
46,022
176,251
46,022
Accruals and deferred income
118,953
38,142
118,953
38,142
1,606,263
1,688,932
1,606,263
1,688,932

Hire purchase liabilities are secured against the specific assets involved.

17
Creditors: amounts falling due after more than one year
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Bank loans and overdrafts
18
2,447,082
4,046,443
2,447,082
4,046,443
Obligations under finance leases
19
111,008
75,069
111,008
75,069
2,558,090
4,121,512
2,558,090
4,121,512
18
Loans and overdrafts
Group
Company
2024
2023
2024
2023
£
£
£
£
Bank loans
2,706,831
4,618,366
2,706,831
4,618,366
Payable within one year
259,749
571,923
259,749
571,923
Payable after one year
2,447,082
4,046,443
2,447,082
4,046,443

Bank loans are secured by a fixed charge and a floating charge which covers all property and undertaking of the company.

COAST CARE HOMES LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 34 -
19
Finance lease obligations
Group
Company
2024
2023
2024
2023
£
£
£
£
Future minimum lease payments due under finance leases:
Within one year
88,560
41,965
88,560
41,965
In two to five years
111,008
75,069
111,008
75,069
199,568
117,034
199,568
117,034
20
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:

Liabilities
Liabilities
2024
2023
Group
£
£
Accelerated capital allowances
108,283
94,140
Revaluations
-
532,817
108,283
626,957
Liabilities
Liabilities
2024
2023
Company
£
£
Accelerated capital allowances
108,283
94,140
Revaluations
-
332,110
108,283
426,250
COAST CARE HOMES LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
20
Deferred taxation
(Continued)
- 35 -
Group
Company
2024
2024
Movements in the year:
£
£
Liability at 1 January 2024
626,957
426,250
Credit to profit or loss
(317,967)
(317,967)
Transfer on disposal
(200,707)
-
Liability at 31 December 2024
108,283
108,283
21
Deferred income
Group
Company
2024
2023
2024
2023
£
£
£
£
Other deferred income
522,911
489,038
522,911
489,038
22
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
113,697
89,633

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund. At the year end amounts totalling £49,042 (2023 - £17,164) were outstanding.

23
Share capital
Group and company
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
24
Revaluation reserve

The revaluation reserve previously included gains and losses recognised on the revaluation of freehold properties. This reserve has been adjusted to reflect the transfer of the relevant properties.

COAST CARE HOMES LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 36 -
25
Profit and loss reserves

The profit and loss account represents cumulative profits and losses net of dividends and other adjustments.

26
Controlling party

The group is controlled by BGR Holdings Limited which is the parent undertaking of the largest group.

27
Cash generated from group operations
2024
2023
£
£
Profit for the year after tax
414,592
844,230
Adjustments for:
Taxation charged
203,189
316,428
Finance costs
323,634
351,294
Investment income
(733)
(731)
Gain on disposal of tangible fixed assets
-
(14,356)
Loss on disposal of intangible assets
120,664
-
Amortisation and impairment of intangible assets
-
28,392
Depreciation and impairment of tangible fixed assets
189,147
216,076
Other gains and losses
-
28,584
Movements in working capital:
(Increase)/decrease in debtors
(1,396,053)
190,915
Increase/(decrease) in creditors
252,081
(13,161)
Increase in deferred income
33,873
74,720
Cash generated from operations
140,394
2,022,391
28
Analysis of changes in net debt - group
1 January 2024
Cash flows
31 December 2024
£
£
£
Cash at bank and in hand
2,986,953
(1,025,084)
1,961,869
Borrowings excluding overdrafts
(4,618,366)
1,911,535
(2,706,831)
Obligations under finance leases
(117,034)
(82,534)
(199,568)
(1,748,447)
803,917
(944,530)
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