Registered number: 01965619
FOR THE YEAR ENDED 31 MARCH 2025
WELLBURN CARE HOMES LIMITED
COMPANY INFORMATION
WELLBURN CARE HOMES LIMITED
CONTENTS
WELLBURN CARE HOMES LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The directors present their report and the financial statements for the year ended 31 March 2025.
The directors are responsible for preparing the strategic report, the directors' report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the company's financial statements and then apply them consistently;
∙make judgments 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 company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The loss for the year, after taxation, amounted to £226,843 (2024 - profit £756,835).
A dividend of £361,915 (2024: £183,830) has been declared and paid in the year.
The directors who served during the year were:
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WELLBURN CARE HOMES LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
An external valuer has valued the land and buildings using a model which takes into account expected occupancy levels, room rates and staffing levels. The model follows the methodology used by CBRE Limited when they prepared an independent, external valuation at 31 March 2025, a methodology that has been consistently used in the care sector for a number of years.
The properties, with one exception, vary between 100 and 300 years old. Again, with one exception, all of the properties are in conservation areas and four are Grade II Listed. The company has always maintained its properties to very high standards, and will continue to do so, and all maintenance costs are written off immediately.
The properties, with one exception, vary between 100 and 300 years old. Again, with one exception, all of the properties are in conservation areas and four are Grade II Listed. The company has always maintained its properties to very high standards, and will continue to do so, and all maintenance costs are written off immediately.
In line with the Streamlined Energy and Carbon Reporting legislation, the company is required to report its energy consumption and greenhouse gas emissions arising in the UK. All scope 1 & 2 sources of energy and emissions have been disclosed as well as mandatory scope 3 sources of energy and emissions.
In comparison with our previous financial period, our overall energy consumption & emissions have decreased by less than 1%. A decrease equating to 30 MWh and 3 tCO2e. Both our intensity ratio's have also stayed within a 1% margin in terms of usage and emissions. Following our ESOS Phase 3 compliance, we have decided to push forward with the following energy efficiency recommendations in the future:
> Improve insulation within our care homes
> Replace lighting with LED lights as well as install PIR sensors
> Update thermostatic controls
> Raise staff awareness of energy usage
In comparison with our previous financial period, our overall energy consumption & emissions have decreased by less than 1%. A decrease equating to 30 MWh and 3 tCO2e. Both our intensity ratio's have also stayed within a 1% margin in terms of usage and emissions. Following our ESOS Phase 3 compliance, we have decided to push forward with the following energy efficiency recommendations in the future:
> Improve insulation within our care homes
> Replace lighting with LED lights as well as install PIR sensors
> Update thermostatic controls
> Raise staff awareness of energy usage
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WELLBURN CARE HOMES LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Methodology
Conversion Factors
All conversion factors and fuel properties used in this disclosure have been taken from the 2024 “UK Government Greenhouse Gas Conversion Factors for Company Reporting” published by the Department for Energy Security & Net Zero (DESNZ) and the Department for Environment, Food & Rural Affairs (DEFRA). All greenhouse gas emissions have been expressed in terms of their carbon dioxide equivalence. A full list of conversion factors can be viewed below.
Utilities
Energy consumption expressed in kilowatt-hours has been taken from suppliers' invoices for electricity and natural gas. 100% of our utility information both Electricity and Gas was available for this report. Location-based kgCO2e/kWh conversion factors for the average UK grid supply have been used to calculate the associated greenhouse gas emissions.
Transport
The quantity of fuel purchased for leased vehicles is recorded by fuel cards expressed in Litres. The conversion factors for average forecourt blends have been used to calculate greenhouse gas emissions and underlying energy use. Some staff drive personal or hired vehicles and the mileage is recorded along with the engine size and fuel type. The conversion factors for "Cars (By size)" have been used to calculate greenhouse gas emissions and underlying energy use.
Other Fuels & Emissions
Maintenance records did not contain any instances of refrigerant gas (for air conditioning systems) being refilled.
Conversion Factors
All conversion factors and fuel properties used in this disclosure have been taken from the 2024 “UK Government Greenhouse Gas Conversion Factors for Company Reporting” published by the Department for Energy Security & Net Zero (DESNZ) and the Department for Environment, Food & Rural Affairs (DEFRA). All greenhouse gas emissions have been expressed in terms of their carbon dioxide equivalence. A full list of conversion factors can be viewed below.
Utilities
Energy consumption expressed in kilowatt-hours has been taken from suppliers' invoices for electricity and natural gas. 100% of our utility information both Electricity and Gas was available for this report. Location-based kgCO2e/kWh conversion factors for the average UK grid supply have been used to calculate the associated greenhouse gas emissions.
Transport
The quantity of fuel purchased for leased vehicles is recorded by fuel cards expressed in Litres. The conversion factors for average forecourt blends have been used to calculate greenhouse gas emissions and underlying energy use. Some staff drive personal or hired vehicles and the mileage is recorded along with the engine size and fuel type. The conversion factors for "Cars (By size)" have been used to calculate greenhouse gas emissions and underlying energy use.
Other Fuels & Emissions
Maintenance records did not contain any instances of refrigerant gas (for air conditioning systems) being refilled.
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WELLBURN CARE HOMES LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
The business review, principal risks and uncertainties and financial key performance indicators are all included in the strategic report.
The auditors, Waltons Business Advisers Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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WELLBURN CARE HOMES LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The company’s trading performance for the year to 31 March 2025 remains good and the Directors are not concerned regarding the revaluation of the properties.
The increased turnover has been partially offset by increased costs: payroll cost (the company’s major cost) increases through the impact of ‘National Living Wage’ and other costs have increased due to inflation within the UK.
The decrease in capital and reserves shown within the balance sheet at 31 March 2025 reflects the retention of trading profits for the year offset by the charges associated with the revaluation of the land and buildings. The company continues to move towards a more stable financial basis by the retention of profits and investment in the fabric of the homes. This profit is required to meet the company’s bank loan repayment commitments. The directors will continue with the policy of profit retention and reinvestment back into the homes for the foreseeable future.
The increased turnover has been partially offset by increased costs: payroll cost (the company’s major cost) increases through the impact of ‘National Living Wage’ and other costs have increased due to inflation within the UK.
The decrease in capital and reserves shown within the balance sheet at 31 March 2025 reflects the retention of trading profits for the year offset by the charges associated with the revaluation of the land and buildings. The company continues to move towards a more stable financial basis by the retention of profits and investment in the fabric of the homes. This profit is required to meet the company’s bank loan repayment commitments. The directors will continue with the policy of profit retention and reinvestment back into the homes for the foreseeable future.
As stated previously, negotiations with local councils have generally produced acceptable uplifts to fee rates in most (but not all) areas. The company is helped by its historically high level of privately funded residents but, in conjunction with local and national care associations, we keep pressing the government and local councils to ensure that wage increases forced upon us by legislation and high levels of inflation are mitigated by increased local council fee levels.
With the recent change in Government there is an element of uncertainty. Again, we will work with local and national care associations to ensure any changes forced upon us are mitigated by increased funding.
There continues to be an increasing emphasis on monitoring and review of care homes by CQC and local councils. Our emphasis on quality of care and compliance should ensure that homes retain their grading, but income could be reduced if our homes are downgraded at any point.
Our continued policy of maintaining our properties to high standards inevitably requires higher than industry benchmark figures for repair and maintenance costs. However, we will continue with this policy to maintain our commitment to the highest quality of care provision to our residents.
With the recent change in Government there is an element of uncertainty. Again, we will work with local and national care associations to ensure any changes forced upon us are mitigated by increased funding.
There continues to be an increasing emphasis on monitoring and review of care homes by CQC and local councils. Our emphasis on quality of care and compliance should ensure that homes retain their grading, but income could be reduced if our homes are downgraded at any point.
Our continued policy of maintaining our properties to high standards inevitably requires higher than industry benchmark figures for repair and maintenance costs. However, we will continue with this policy to maintain our commitment to the highest quality of care provision to our residents.
The company’s key performance indicator, occupancy, averaged 90.6% over the year, compared to 91.8% in the previous year. The directors consider that occupancy is good and continue to work to ensure that occupancy is maximised.
Gross profit margin for 2024-25 at 36% was slightly lower than the previous year’s 37%. The directors continue to work to maintain margins by maximising income and careful control of costs.
Gross profit margin for 2024-25 at 36% was slightly lower than the previous year’s 37%. The directors continue to work to maintain margins by maximising income and careful control of costs.
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WELLBURN CARE HOMES LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
When making any decision, be it small or large, the directors always act in good faith, with the welfare of the staff and residents at the heart of everything they do. All decisions and strategies implemented have both the short, medium and long term health and success of the company at their core.
In discharging their duties above, the directors also carefully consider the impact on and interests of other stakeholders in the company, and factor these into their decision making process.
In discharging their duties above, the directors also carefully consider the impact on and interests of other stakeholders in the company, and factor these into their decision making process.
This report was approved by the board and signed on its behalf.
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WELLBURN CARE HOMES LIMITED
INDEPENDENT AUDITORS' REPORT TO THE SHAREHOLDERS OF WELLBURN CARE HOMES LIMITED
We have audited the financial statements of Wellburn Care Homes Limited (the 'company') for the year ended 31 March 2025, which comprise the statement of comprehensive income, the analysis of net debt, the balance sheet, the statement of cash flows, the statement of changes in equity and the related notes, 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 auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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WELLBURN CARE HOMES LIMITED
INDEPENDENT AUDITORS' REPORT TO THE SHAREHOLDERS OF WELLBURN CARE HOMES LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our auditors' 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.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the strategic report and the directors' report 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.
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 directors' report.
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WELLBURN CARE HOMES LIMITED
INDEPENDENT AUDITORS' REPORT TO THE SHAREHOLDERS OF WELLBURN CARE HOMES LIMITED (CONTINUED)
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 auditors' 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. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We gained an understanding of the legal and regulatory framework applicable to the company and the area in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
We identified the greatest potential for fraud in the following areas: existence and timing of recognition of income, fraudulent expenditure and management override of controls (especially in the posting of journals). We discussed these risks with managment and designed audit procedures as follows:
• to test the timing and existence of revenue,
• to vouch a sample of expenditure for authorisation and to invoices to confirm a genuine expense,
• to review journals posted to key control accounts or posted around the year end, to look for potential "window dressing" as well as looking at a sample throughout the year.
We identified the greatest potential for fraud in the following areas: existence and timing of recognition of income, fraudulent expenditure and management override of controls (especially in the posting of journals). We discussed these risks with managment and designed audit procedures as follows:
• to test the timing and existence of revenue,
• to vouch a sample of expenditure for authorisation and to invoices to confirm a genuine expense,
• to review journals posted to key control accounts or posted around the year end, to look for potential "window dressing" as well as looking at a sample throughout the year.
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 auditors' report.
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WELLBURN CARE HOMES LIMITED
INDEPENDENT AUDITORS' REPORT TO THE SHAREHOLDERS OF WELLBURN CARE HOMES LIMITED (CONTINUED)
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 auditors' 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.
for and on behalf of
Chartered Accountants
Statutory Auditors
Maritime House
Harbour Walk
The Marina
TS24 0UX
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WELLBURN CARE HOMES LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2025
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WELLBURN CARE HOMES LIMITED
REGISTERED NUMBER: 01965619
BALANCE SHEET
AS AT 31 MARCH 2025
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WELLBURN CARE HOMES LIMITED
REGISTERED NUMBER: 01965619
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 4 November 2025 .
The notes on pages 17 to 34 form part of these financial statements.
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