REGISTERED NUMBER: 10355159 (England and Wales)

Strategic Report, Report of the Director and

Financial Statements for the Year Ended 31 March 2025

for

Beechwood (Liverpool) Ltd

Page

Company Information

1

Strategic Report

2

Report of the Director

4

Report of the Independent Auditors

6

Income Statement

10

Other Comprehensive Income

11

Balance Sheet

12

Statement of Changes in Equity

13

Notes to the Financial Statements

14

DIRECTOR:

M D Hartey

REGISTERED OFFICE:

6-8 Old Hall Road

Gatley

Cheadle

Cheshire

SK8 4BE

REGISTERED NUMBER:

10355159 (England and Wales)

SENIOR STATUTORY AUDITOR:

Janine Boyo BFP FCA MAAT

AUDITORS:

Voisey & Co LLP

8 Winmarleigh Street

Warrington

Cheshire

WA1 1JW

BANKERS:

Santander UK plc

298 Deansgate

Manchester

M3 4HH

BANKERS:

National Westminster Bank plc

34 High Street

Cheadle

Cheshire

SK8 1LQ

The director presents his strategic report for the year ended 31 March 2025.

REVIEW OF BUSINESS

The company continued its principal activities throughout the current year, those being the provision of specialist healthcare services and trading in antiques.

The income statement shows the results of the company for the year. Turnover has remained steady at £3.5m in 2025 from £3.5m in 2024 whilst the profit before tax has seen a decrease from profit of £817k to a profit of £698k. The profit before tax figure includes increased costs in relation to wages and other increased costs as a result of the wider economic environment which has impacted the company. The company continues to successfully monitor and manage costs increases to retain a profitable position.

The balance sheet shows that the company's net assets at the year-end have increased from £2.68m to £2.72m this is due to the profit for the year.

The company ended the year in a financially strong position to continue to deliver its plans going forwards.

PRINCIPAL RISKS AND UNCERTAINTIES

The director considers the key risks and uncertainties facing the company to be as follows:

Competition

Competitive pressure in a market for specialist challenging behaviour services is a continuing risk for the company as a number of alternative providers exist across the UK. The company continues to mitigate for this risk by developing services which are sufficiently differentiated from the competition by means of both the behavioural models applied and the niche client groups cared for.

Funding

The services users are wholly funded by public sector sources. Consequently the company is therefore exposed to risks surrounding changes in government policies and the impact of enacted and planned reductions in spending on health and social care. This risk is mitigated by providing robust evidence of quality and service user outcomes, as well as ensuring that the company continues to contract with a wide range of funding providers. The company will continue to review and amend its cost base to counteract funding changes.

Regulatory

The company's operations are subject to an increasingly high level of regulation and scrutiny by various regulators across the UK. Inspections are largely unannounced. The failure to meet the appropriate regulations could lead to a home being placed under special measures, being subjected to enforcement notices or possibly forced to close.The homes have all been recently inspected and the inspection results have been shared with the home managers. The inspection results on the whole have been positive, although there are some action points to be taken, these are being monitored and assessed by both the director, home manager and the regulators.

Staffing

Across the UK there are shortages in some key professions which enhances the risk regarding the retention and recruitment of qualified professionals, and the risk of not having the correct resources in place for the unique and personalised levels of care our residents needs and for which we are commissioned. Staffing levels are constantly monitored within the company to ensure the correct and appropriate level of care is provided.

FINANCIAL RISK MANAGEMENT

The director assesses the financial risk to the company as follows:

Price risk

The company's price risk is driven by the average weekly fee rates which can be achieved, factors impacting on these can include the number of residents, whether funding is private or whether funding is from local authorities. All sales are to UK customers and the majority of suppliers are UK based.

Credit risk

The company's principal assets are bank balances, trade and other receivables, stock and tangible fixed assets. The credit risk is principally attributable to the trade receivables, these are reviewed and chased on a regular basis to ensure they are collected. The amounts presented in the balance sheet are net of allowances for doubtful receivables which are estimated based on previous experience and current knowledge pertaining to the receivable. The company has not entered into any hedging arrangements in respect of risks relating to trade debtors or trade creditors.

Liquidity risk

The company continues to operate within it's agreed overdraft facilities from the bank and has continued to maintain its liquidity and sufficient working capital for ongoing operations.

FINANCIAL KEY PERFORMANCE INDICATORS

Management monitor cash balances throughout the year as key performance indicators.

2025

2024

£

£

Cash at bank

61,760

108,490

EBITDA

742,853

872,133

FUTURE DEVELOPMENTS

The company's strategy is to continually improve the quality of the services provided and to increase its capacity. This will be delivered through:

- Investment into the new development of clinical and management teams;

- development of new properties;

- refurbishment of existing properties; and

- strategic acquisitions.

GOING CONCERN

The director has considered the company's trading and cash flows for the foreseeable future and is confident that the company does have adequate resources to continue in operational existence for the foreseeable future. Accordingly, the company continues to adopt the going concern basis in preparing the annual report and financial statements.

ON BEHALF OF THE BOARD:

M D Hartey - Director

28 November 2025

The director presents his report with the financial statements of the company for the year ended 31 March 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the provision of specialist healthcare services.

DIVIDENDS

The total distribution of dividends for the year ended 31 March 2025 will be £ 475,000 .

DIRECTOR

M D Hartey held office during the whole of the period from 1 April 2024 to the date of this report.

DISCLOSURE IN THE STRATEGIC REPORT

As permitted by the Large and Medium Sized Companies and Groups (Accounts and Reports) Regulation 2008, certain matters which are required to be disclosed in the Directors' report have been omitted as they are included in the Strategic Report. These matters relate to the financial management risk and future developments.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is 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 director is required to:

-	select suitable accounting policies and then apply them consistently;

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

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

The director is 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 him to ensure that the financial statements comply with the Companies Act 2006. He is 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Voisey & Co LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

M D Hartey - Director

28 November 2025

Opinion

We have audited the financial statements of Beechwood (Liverpool) Ltd (the 'company') for the year ended 31 March 2025 which comprise the Income Statement, Other Comprehensive Income, 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 year then ended;

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

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

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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

Other information

The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

-	the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Director.

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 director's remuneration specified by law are not made; or

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

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page four, the director is 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 director determines 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 director is 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 director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

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

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

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:

1 - We enquired of management and those charged with governance about actual and potential litigation and claims, including review of relevant nominal ledger accounts.

2 - We obtained an understanding of laws, regulations and guidance that affect the Company, focusing on those that had a direct effect on the financial statements or that had a fundamental effect on its operations. Key laws, regulations and guidance that we identified included the Companies Act 2006, health and safety legislation, employment legislation and Care Quality Commission (CQC) regulations..

3 - We enquired of management and those charged with governance to identify any instances of non-compliance with laws and regulations.

4 - We reviewed the Company's financial statement disclosures and agreed to supporting documentation to assess compliance with the applicable laws and regulations discussed above.

5 - We gained an understanding of the controls that management have in place to prevent and detect fraud. We enquired of management about any incidences of fraud that had taken place during the accounting period.

6 - The risk of fraud and non-compliance with laws and regulations was discussed within the audit team and tests were planned and performed to address these risks.

7 - In addressing the risk of fraud due to management override of controls, we performed testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.

8 - We also challenge management assumptions with regard to accounting estimates.

Despite appropriate planning and performing our work in accordance with International Auditing Standards, there are always inherent limitations that non-compliance is not detected. Non-compliance with laws and regulations is often further removed from the events and transactions reflected in the financial statements and material misstatements due to fraud can be deliberately concealed from auditors, for example through misrepresentation, forgery or collusion.

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

Use of our report

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

Janine Boyo BFP FCA MAAT (Senior Statutory Auditor)

for and on behalf of Voisey & Co LLP

8 Winmarleigh Street

Warrington

Cheshire

WA1 1JW

28 November 2025

TURNOVER

3

3,485,524

3,502,947

Cost of sales

(2,731,800

)

(2,635,081

)

GROSS PROFIT

753,724

867,866

Administrative expenses

(55,647

)

(69,114

)

698,077

798,752

Other operating income

4

-

18,000

OPERATING PROFIT

6

698,077

816,752

Interest payable and similar expenses

7

(61

)

-

PROFIT BEFORE TAXATION

698,016

816,752

Tax on profit

8

(179,097

)

(204,881

)

PROFIT FOR THE FINANCIAL YEAR

518,919

611,871

PROFIT FOR THE YEAR

518,919

611,871

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

518,919

611,871

FIXED ASSETS

Tangible assets

11

1,411,117

1,455,893

CURRENT ASSETS

Debtors

12

5,185,906

4,464,867

Cash at bank and in hand

61,760

108,490

5,247,666

4,573,357

CREDITORS

Amounts falling due within one year

13

3,922,108

3,336,014

NET CURRENT ASSETS

1,325,558

1,237,343

TOTAL ASSETS LESS CURRENT LIABILITIES

2,736,675

2,693,236

PROVISIONS FOR LIABILITIES

15

12,868

13,348

NET ASSETS

2,723,807

2,679,888

CAPITAL AND RESERVES

Called up share capital

16

1

1

Retained earnings

17

2,723,806

2,679,887

SHAREHOLDERS' FUNDS

2,723,807

2,679,888

The financial statements were approved by the director and authorised for issue on 28 November 2025 and were signed by:

M D Hartey - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 April 2023

1

2,518,016

2,518,017

Changes in equity

Dividends

-

(450,000

)

(450,000

)

Total comprehensive income

-

611,871

611,871

Balance at 31 March 2024

1

2,679,887

2,679,888

Changes in equity

Dividends

-

(475,000

)

(475,000

)

Total comprehensive income

-

518,919

518,919

Balance at 31 March 2025

1

2,723,806

2,723,807

1.	STATUTORY INFORMATION

Beechwood (Liverpool) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Monetary amounts in these financial statements shall be rounded to the nearest £.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows;

•

the requirement of paragraph 3.17(d);

•

the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

•

the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;

•

the requirement of paragraph 33.7.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The key assumptions concerning the future and other key sources of estimation include uncertainties at the reporting date, which may have a risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial periods, are discussed below.

Management do not consider the company to have any significant accounting judgements or key sources of estimation uncertainty.

Going concern

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

Turnover

Income from the provision of care, which is stated net of value added tax, is recognised as it is earned on a periodic basis over the year.

Tangible fixed assets

Tangible fixed assets are stated at cost. Depreciation is provided at the following annual rates in order to write off each asset, less any residual value, over its estimated useful life.

Fixtures and fittings - 20% on reducing balance

Motor vehicles - 25% on reducing balance

Computer equipment - 33% on reducing balance

The director has considered the requirement for depreciation on the freehold buildings and has concluded that no depreciation is required to be provided on the grounds that it would be immaterial as the estimated remaining useful economic life of the building's exceed 50 years and the land and buildings have anticipated residual values in excess of current net book values.

Taxation

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

Current or deferred taxation assets and liabilities are not discounted.

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

Deferred tax

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

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

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

Pension costs and other post-retirement benefits

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

Cash and cash equivalents

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

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 costs using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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 publically 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 or 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.

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 company 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 company after deducting all of its 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 receipts 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 company's contractual obligations expire or are discharged or cancelled.

Equity instruments

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

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.

Provisions

A provision is recognised in the balance sheet when the company has a constructive or legal obligation as a result of a past event and it is probable that an outflow of economic benefit will be required to settle the obligation. Provisions are recognised at their discounted net present value.

Hire purchase and leasing commitments

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

3.

TURNOVER

The turnover and profit before taxation are attributable to the principal activity of the company, there is not more than one class of business. The company operates and derives it's turnover solely from operations in the United Kingdom.

4.	OTHER OPERATING INCOME

31.3.25

31.3.24

£

£

Government grants

-

18,000

5.	EMPLOYEES AND DIRECTORS

31.3.25

31.3.24

£

£

Wages and salaries

1,461,296

1,124,915

Social security costs

130,436

95,028

Other pension costs

22,853

18,697

1,614,585

1,238,640

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

31.3.25

31.3.24

Management

2

2

Nursing and care staff

52

34

Clinical and support staff

12

15

Administration

3

3

69

54

Key Personnel:

The key personnel are considered to be the sole managing director. Per the note below no remuneration is paid to the directors in the year from this company. Director remuneration for qualifying services as the managing director of the company, is linked to those services provided across the Ovalseal Limited group of companies, as set out in the parent company Ovalseal Limited's accounts.

31.3.25

31.3.24

£

£

Director's remuneration

-

-

6.	OPERATING PROFIT

The operating profit is stated after charging:

31.3.25

31.3.24

£

£

Depreciation - owned assets

44,776

55,380

Auditors' remuneration

8,180

5,700

Auditors' remuneration for non audit work

2,740

3,093

7.

INTEREST PAYABLE AND SIMILAR EXPENSES

31.3.25

31.3.24

£

£

Bank interest

61

-

8.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

31.3.25

31.3.24

£

£

Current tax:

UK corporation tax

182,616

205,310

Deferred tax

(3,519

)

(429

)

Tax on profit

179,097

204,881

UK corporation tax has been charged at 25% .

Reconciliation of total tax charge included in profit and loss

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

31.3.25

31.3.24

£

£

Profit before tax

698,016

816,752

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%)

174,504

204,188

Effects of:

Adjustments to tax charge in respect of previous periods

4,015

-

Depreciation on ineligible assets

578

693

Total tax charge

179,097

204,881

The main rate of corporation tax for the year ended 31 March 2025 was 25%.

9.

DIVIDENDS

31.3.25

31.3.24

£

£

Final

475,000

450,000

10.	PRIOR YEAR ADJUSTMENT

During the preparation of the financial statements for the year ended 31 March 2025 the format and content of the income statement was reviewed and it was identified that for the year ended 31 March 2024 the Cost of sales figure did not accurately reflect the direct costs associated with the healthcare services provided.

The prior year financial statements have been restated to correct this error. The impact is as follows:

2025

2024

£

£

Profit and Loss Account

Increase in cost of sales

-

2,635,081

Decrease in administrative expenses

-

(2,635,081

)

Increase/(decrease) in profit before tax

-

-

There has been no impact on retained earnings for either the year end 31 March 2025 or 31 March 2024.

11.	TANGIBLE FIXED ASSETS

Computer

Fixtures

and

Freehold

and

Motor

office

property

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2024

and 31 March 2025

1,232,656

869,577

8,950

1,096

2,112,279

DEPRECIATION

At 1 April 2024

69

648,337

7,020

960

656,386

Charge for year

-

44,248

483

45

44,776

At 31 March 2025

69

692,585

7,503

1,005

701,162

NET BOOK VALUE

At 31 March 2025

1,232,587

176,992

1,447

91

1,411,117

At 31 March 2024

1,232,587

221,240

1,930

136

1,455,893

12.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

40,207

249,362

Amounts owed by group undertakings

5,014,547

4,040,160

Other debtors

131,152

175,345

5,185,906

4,464,867

13.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

72,210

115,650

Amounts owed to group undertakings

3,410,140

2,816,799

Tax

178,601

205,283

Social security and other taxes

57,138

47,760

Other creditors

145,077

108,666

Directors' current accounts

3,902

2,513

Accruals and deferred income

55,040

39,343

3,922,108

3,336,014

14.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.25

31.3.24

£

£

Within one year

3,288

6,017

Between one and five years

1,918

5,206

5,206

11,223

15.	PROVISIONS FOR LIABILITIES

31.3.25

31.3.24

£

£

Deferred tax

9,829

13,348

Other provisions

3,039

-

12,868

13,348

Deferred

tax

£

Balance at 1 April 2024

13,348

Credit to Income Statement during year

(3,519

)

Balance at 31 March 2025

9,829