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Registered number: 07172004 PURECARE CARE HOMES LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
PURECARE CARE HOMES LIMITED COMPANY INFORMATION
Directors | R P Herkanaidu
| R Herkanaidu
Registered number | 07172004
Registered office | Rock House
| 109 Rock Avenue
| Gillingham
| Kent
| ME7 5PY
Independent auditors | Barnes Roffe Audit Limited
| Chartered Accountants & Statutory Auditor
| Charles Lake House
| Claire Causeway
| Crossways Business Park
| Dartford
| Kent
| DA2 6QA
PURECARE CARE HOMES LIMITED CONTENTS
| Page
Group strategic report | 1 - 2
Directors' report | 3 - 4
Independent auditors' report | 5 - 8
Consolidated statement of comprehensive income | 9
Consolidated statement of financial position | 10 - 11
Company statement of financial position | 12 - 13
Consolidated statement of changes in equity | 14
Company statement of changes in equity | 14
Consolidated statement of cash flows | 15 - 16
Notes to the financial statements | 17 - 34
PURECARE CARE HOMES LIMITED GROUP STRATEGIC REPORT FOR THE YEAR ENDED 31 MARCH 2025
Principal activities
The principal activity of the Group during the year was the provision of residential and supported living social care services to its clients who have mental health needs.
Business review
In the financial year ended 31st March 2025 the company generated turnover totalling £5.2m (2024: £4.3m), profit before tax of £1.7m (2024: £1.3m) and had shareholder funds of £3.6m (2024: £3.3m). The Group continues to invest in new properties to drive growth, with Caspian House being fully operational in the year after opening in October 2024. Caspian House's sixteen rooms increased the Group's portfolio to a total of 79 rooms.
Principal risks and uncertainties
Government funding of local authorities presents the main risk to the business The primary focus on mitigating this risk is to focus on delivering expertise and homes in which our clients can feel welcomed and are the first choice when social care managers are placing clients into the community. The Group is assessed by the Care Quality Commission on an ongoing basis and all homes, where rated, have achieved ratings of 'good', with one exception as disclosed in post balance sheet events in the directors report. The UK economy saw inflation and interest rates rising and they remained high during the year. The Group continues to monitor the financial markets to ensure its portfolio is financed optimally.
Financial key performance indicators
The Group monitors its performance against strategic objectives by means of key performance indicators. The main KPl's used are orientated around turnover, gross margin, profit before tax and occupancy rates. These are summarised as follows: Mar-25 Mar-24 Mar-23 Mar-22 £'000 £'000 £'000 £'000 Turnover 5,163 4,357 3,585 2,674 Gross margin % 58% 58% 57% 59% Profit before Tax 1,727 1,336 1,286 1,269 Occupancy Rates 95% 97% 95% 93% These KPl's are reviewed on a regular basis to assess whether expectations are met. Page 1
PURECARE CARE HOMES LIMITED GROUP STRATEGIC REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
Going Concern
The directors are confident that the Group has adequate resources to continue operating as it currently does as well as being able to invest in the long-term future of the business. For this reason, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements. This report was approved by the board and signed on its behalf.
Rodney Herkanaidu Director
Date: 3 December 2025
Page 2
PURECARE 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.
Directors' responsibilities statement
The directors are responsible for preparing the Group strategic report, the Directors' report and the consolidated 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the Group 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 for the Group's financial statements and then apply them consistently; ∙make judgments 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 Group 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 the Group 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 the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Results and dividends
The profit for the year, after taxation, amounted to £1,381,022 (2024 - £987,305). Ordinary dividends were paid amounting to £1,110,000 (2024 – £950,000). The directors do not recommend payment of a further dividend.
Directors
The directors who served during the year were:
R P Herkanaidu
R Herkanaidu
Future developments
There are no future developments that the directors consider noteworthy. Page 3
PURECARE CARE HOMES LIMITED DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
Disclosure of information to auditors
Each of the persons who are directors at the time when this Directors' report is approved has confirmed that: ∙so far as the director is aware, there is no relevant audit information of which the company and the Group's auditors are unaware, and ∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the company and the Group's auditors are aware of that information.
Post balance sheet events
Subsequent to the year-end, in April 2025, a report was published by the Care Quality Commission (CQC) following an inspection of one of the Group’s trading care homes conducted during the financial year. The report rated the service as "Inadequate," leading to the home being placed into special measures and the imposition of an embargo by the local authority on new admissions. Management has taken immediate steps to address the findings, including the engagement of external quality consultants and the appointment of new quality management personnel. The Group is actively working to implement a comprehensive improvement plan. At the date of approval of these financial statements, the home is awaiting reinspection and the embargo is therefore still in place. Also since the rating from CQC, the occupancy of the home has not been impacted by the embargo. This is not expected to have a significant impact on the trading position of the Group. There have been no other significant events affecting the Group since the year end.
Auditors
After the year end Barnes Roffe LLP resigned as auditors due to the transfer of its audit business and its successor Barnes Roffe Audit Limited was appointed by the directors under s485 Companies Act 2006. This report was approved by the board and signed on its behalf.
R Herkanaidu Director
Date: 3 December 2025
Page 4
PURECARE CARE HOMES LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF PURECARE CARE HOMES LIMITED
Opinion
We have audited the financial statements of Purecare Care Homes Limited (the 'parent company') and its subsidiaries (the 'Group') for the year ended 31 March 2025, which comprise the Consolidated statement of comprehensive income, the Consolidated Statement of Financial Position, the Company Statement of Financial Position, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company 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 our opinion the financial statements: ∙give a true and fair view of the state of the Group's and of the parent company's affairs as at 31 March 2025 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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 or the 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. Page 5
PURECARE CARE HOMES LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF PURECARE CARE HOMES LIMITED (CONTINUED)
Other information
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.
Opinion 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 Group 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 Group 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 its environment obtained in the course of the audit, we have not identified material misstatements in the Group strategic report or the Directors' report. 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. Page 6
PURECARE CARE HOMES LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF PURECARE CARE HOMES LIMITED (CONTINUED)
Responsibilities of directors
As explained more fully in the Directors' responsibilities statement set out on page 3, 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 Group's and 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 Group or the parent company or to cease operations, or have 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 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 Group 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. Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with law and regulations, was as follows: • The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; • We identified the laws and regulations applicable to the company through discussion with directors and other management, and from our commercial knowledge and experience of the social care sector; • The specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the group, are as follows; o Companies Act 2006 o FRS102 o Health and Safety legislation o Care Quality Commission (CQC) & asociated laws and regulations o Employment legislation o Tax legislation • We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management, reviewing board minutes and CQC correspondence and inspection reports;and • Laws and regulations were communicated within the audit team at the planning meeting, and during the audit as any further laws and regulation were identified. The audit team remained alert to instances of non-compliance throughout the audit; and We assessed the susceptibility of the group’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur by: • Making enquires of management as to where they consider there was susceptibility to fraud and their knowledge of actual suspected and alleged fraud; • Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; • Reviewing the financial statements and testing the disclosures against supporting documentation; Page 7
PURECARE CARE HOMES LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF PURECARE CARE HOMES LIMITED (CONTINUED) • Performing analytical procedures to identify any unusual or unexpected trends or anomalies; • Inspecting and testing journal entries to identify unusual or unexpected transactions; • Assessing whether judgement and assumptions made in determining significant accounting estimates, including the useful economic life of tangible fixed assets and the valuation of freehold property, were indicative of management bias; and • Investigating the rationale behind significant transactions, or transactions that are unusual or outside the group’s usual course of business. The areas that we identified as being susceptible to misstatement through fraud were: • Management bias in the estimates and judgements made; • Management override of controls; and • Posting of unusual journals or transactions. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. 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.
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 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. Ben Bradley (Senior statutory auditor) for and on behalf of Barnes Roffe Audit Limited Chartered Accountants Statutory Auditor Charles Lake House Claire Causeway Crossways Business Park Dartford Kent DA2 6QA Date: 4 December 2025 Page 8
PURECARE CARE HOMES LIMITED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 MARCH 2025
| 2025 | 2024
Note | £ | £
Turnover | 4 | 5,163,188 | 4,357,545
Cost of sales |  | (2,172,613) | (1,838,813)
Gross profit |  | 2,990,575 | 2,518,732
Administrative expenses |  | (816,126) | (711,522)
Other operating income | 5 | - | 9,805
Operating profit | 6 | 2,174,449 | 1,817,015
Interest receivable and similar income | 10 | 1,432 | 9,196
Interest payable and similar expenses | 11 | (448,015) | (489,978)
Profit before tax |  | 1,727,866 | 1,336,233
Tax on profit | 12 | (346,844) | (348,928)
Profit for the financial year |  | 1,381,022 | 987,305
Profit for the year attributable to: |  |  |
Owners of the parent company |  | (1,381,022) | (987,305)
|  | (1,381,022) | (987,305)
There were no recognised gains and losses for 2025 or 2024 other than those included in the consolidated statement of comprehensive income.
There was no other comprehensive income for 2025 (2024:£NIL).
The notes on pages 17 to 34 form part of these financial statements.
Page 9
PURECARE CARE HOMES LIMITED REGISTERED NUMBER: 07172004 CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 13 |  | 9,993,536 |  | 9,547,753
|  |  | 9,993,536 |  | 9,547,753
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 15 | 359,913 |  | 229,544 |
Cash at bank and in hand | 16 | 532,257 |  | 684,688 |
|  | 892,170 |  | 914,232 |
Creditors: amounts falling due within one year | 17 | (1,415,663) |  | (761,331) |
Net current (liabilities)/assets |  |  | (523,493) |  | 152,901
Total assets less current liabilities |  |  | 9,470,043 |  | 9,700,654
Creditors: amounts falling due after more than one year | 18 |  | (5,690,266) |  | (6,190,751)
Provisions for liabilities |  |  |  |  |
Deferred tax | 22 | (173,089) |  | (174,237) |
|  |  | (173,089) |  | (174,237)
Net assets |  |  | 3,606,688 |  | 3,335,666
Capital and reserves |  |  |  |  |
Called up share capital | 23 |  | 100 |  | 100
Revaluation reserve |  |  | 582,606 |  | 582,606
Profit and loss account |  |  | 3,023,982 |  | 2,752,960
|  |  | 3,606,688 |  | 3,335,666
Page 10
PURECARE CARE HOMES LIMITED REGISTERED NUMBER: 07172004 CONSOLIDATED STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 MARCH 2025 The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
R Herkanaidu
Director
Date: 3 December 2025
The notes on pages 17 to 34 form part of these financial statements. Page 11
PURECARE CARE HOMES LIMITED REGISTERED NUMBER: 07172004 COMPANY STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 13 |  | 9,874,772 |  | 9,434,673
Investments | 14 |  | 2 |  | 2
|  |  | 9,874,774 |  | 9,434,675
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 15 | 3,791,110 |  | 4,953,240 |
Cash at bank and in hand | 16 | 113,305 |  | 370,109 |
|  | 3,904,415 |  | 5,323,349 |
Creditors: amounts falling due within one year | 17 | (489,647) |  | (214,548) |
Net current assets |  |  | 3,414,768 |  | 5,108,801
Total assets less current liabilities |  |  | 13,289,542 |  | 14,543,476
Creditors: amounts falling due after more than one year | 18 |  | (5,690,266) |  | (6,190,751)
Provisions for liabilities |  |  |  |  |
Deferred taxation | 22 | (144,040) |  | (146,756) |
|  |  | (144,040) |  | (146,756)
Net assets |  |  | 7,455,236 |  | 8,205,969
Capital and reserves |  |  |  |  |
Called up share capital | 23 |  | 100 |  | 100
Revaluation reserve |  |  | 582,606 |  | 582,606
Profit and loss account |  |  | 6,872,530 |  | 7,623,263
|  |  | 7,455,236 |  | 8,205,969
Page 12
PURECARE CARE HOMES LIMITED REGISTERED NUMBER: 07172004 COMPANY STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 MARCH 2025 The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
R Herkanaidu
Director
Date: 3 December 2025
The notes on pages 17 to 34 form part of these financial statements. Page 13
PURECARE CARE HOMES LIMITED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 MARCH 2025
| Called up share capital | Revaluation reserve | Profit and loss account | Equity attributable to owners of parent company | Total equity
| £ | £ | £ | £ | £
At 1 April 2023 | 100 | 582,606 | 2,715,655 | 3,298,361 | 3,298,361
Profit for the year | - | - | 987,305 | 987,305 | 987,305
Dividends: Equity capital | - | - | (950,000) | (950,000) | (950,000)
At 1 April 2024 | 100 | 582,606 | 2,752,960 | 3,335,666 | 3,335,666
Profit for the year | - | - | 1,381,022 | 1,381,022 | 1,381,022
Dividends: Equity capital | - | - | (1,110,000) | (1,110,000) | (1,110,000)
At 31 March 2025 | 100 | 582,606 | 3,023,982 | 3,606,688 | 3,606,688
| The notes on pages 17 to 34 form part of these financial statements.
COMPANY STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 MARCH 2025
| Called up share capital | Revaluation reserve | Profit and loss account | Total equity
| £ | £ | £ | £
At 1 April 2023 | 100 | 582,606 | 8,487,501 | 9,070,207
Profit for the year | - | - | 85,762 | 85,762
Dividends: Equity capital | - | - | (950,000) | (950,000)
At 1 April 2024 | 100 | 582,606 | 7,623,263 | 8,205,969
Profit for the year | - | - | 359,267 | 359,267
Dividends: Equity capital | - | - | (1,110,000) | (1,110,000)
At 31 March 2025 | 100 | 582,606 | 6,872,530 | 7,455,236
| The notes on pages 17 to 34 form part of these financial statements.
Page 14
PURECARE CARE HOMES LIMITED CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025
|  |  | 2025 | 2024
|  |  | £ | £
Cash flows from operating activities |  |
Profit for the financial year | 1,381,022 | 987,305
Adjustments for: |  |
Depreciation of tangible assets | 51,518 | 52,177
Loss on disposal of tangible assets | - | 10,849
Interest paid | 448,015 | 489,978
Interest received | (1,432) | (9,196)
Taxation charge | 346,844 | 348,928
(Increase) in debtors | (130,369) | (147,854)
Increase in creditors | 297,411 | 279,139
Taxation charged | (176,860) | (247,660)
Net cash generated from operating activities | 2,216,149 | 1,763,666
Cash flows from investing activities |  |
Purchase of tangible fixed assets | (497,301) | (2,590,778)
Interest received | 1,432 | 9,196
HP interest paid | (3,100) | (3,100)
Net cash from investing activities | (498,969) | (2,584,682)
Page 15
PURECARE CARE HOMES LIMITED CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
|  | 2025 | 2024
|  | £ | £
Cash flows from financing activities |  |
New secured loans | - | 2,178,000
Repayment of loans | (297,883) | (125,129)
Repayment of/new finance leases | (16,813) | (27,504)
Dividends paid | (1,110,000) | (950,000)
Interest paid | (444,915) | (486,878)
Net cash used in financing activities | (1,869,611) | 588,489
Net (decrease) in cash and cash equivalents | (152,431) | (232,527)
Cash and cash equivalents at beginning of year | 684,688 | 917,215
Cash and cash equivalents at the end of year | 532,257 | 684,688
Cash and cash equivalents at the end of year comprise: |  |
Cash at bank and in hand | 532,257 | 684,688
| 532,257 | 684,688
The notes on pages 17 to 34 form part of these financial statements.
Page 16
PURECARE CARE HOMES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. | General information
Purecare Care Homes Limited ("the company") is a private limited company domiciled and incorporated in England and Wales. The registered office is, Rock House, 109 Rock Avenue, Gillingham, Kent, ME7 5PY. The group consists of Purecare Care Homes Limited and Purecare Care Services Limited. The principle addess of the group is Rock House, 109 Rock Avenue, Gillingham, Kent, ME7 5PY. The principal activity of the Group during the year was the provision of residential and supported living social care services to its clients who have mental health needs. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies (see note 3). The company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements. The financial statements are prepared in Sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. The following principal accounting policies have been applied:
| 2.2 | Basis of consolidation
The consolidated financial statements present the results of the company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full. The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of financial position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.
| 2.3 | 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. Page 17
PURECARE CARE HOMES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.4 | Business combinations
In the parent company financial statements, the cost of a business combination is the fair value of the acquisition date of the assets given, equity instrument issued and liabilities incurred or assumed, plus cost directly attributable to be business combination. The excess of the cost of business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of combination includes the estimated amount of contingent consideration that is probable and can be measured reliably and is adjusted for changes in contingent consideration after the acquisition date. Provisional fair values recognised for business combination in previous periods are adjusted retrospectively for final fair value determined in the 12 months following the acquisition date. Investment in subsidiaries, joint ventures and associates are accounted for at cost less impairment. Deferred tax is recognises on differences between the value of assets (other then goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liability is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill and negative goodwill.
| 2.5 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Group will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably.
| 2.6 | Operating leases: the Group as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
| 2.7 | Interest income
Interest income is recognised in profit or loss using the effective interest method. Page 18
PURECARE CARE HOMES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.8 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.9 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
| 2.10 | Pensions
Defined contribution pension plan The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Group in independently administered funds.
| 2.11 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company and the Group operate and generate income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and ∙Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date. Page 19
PURECARE CARE HOMES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.12 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following bases.
|  |  |  | Freehold land and buildings | - |  | Not depreciated
|  |  |  | Motor vehicles | - | 25% | Straight line
|  |  |  | Fixtures and fittings | - | 25% | Reducing balance/Straight line
|  |  |  | Office equipment | - | 25% | Straight line
The company has not provided for depreciation on land and buildings and has therefore not complied with Companies Act 2006 requirements. It is the company's policy to maintain its properties in a sound state of repair and, accordingly, the directors consider that the economic lives of the properties are so long and the residual value at such a level that depreciation would be inappropriate. The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.13 | Revaluation of tangible fixed assets
Individual freehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date. Fair values are determined from market based evidence normally undertaken by professionally qualified valuers. Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.
| 2.14 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment.
| 2.15 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. Page 20
PURECARE CARE HOMES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.16 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. In the Consolidated statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.
| 2.17 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.18 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss.
| 2.19 | Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
| 2.20 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
3. | Judgments in applying accounting policies and key sources of estimation uncertainty
a)Critical judgements in applying the company’s accounting policies No significant judgements have had to be made by the company in preparing these financial statements. b) Key accounting estimates and assumptions The useful economic life of tangible fixed assets which is further described in note 2.12 of accounting policies, and the valuation of freehold properties which is further described in note 2.13 of accounting policies. Page 21
PURECARE CARE HOMES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
4. | Turnover
| An analysis of turnover by class of business is as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Principal Activity (See note 1) | 5,163,188 | 4,357,545
|  | 5,163,188 | 4,357,545
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| United Kingdom | 5,163,188 | 4,357,545
|  | 5,163,188 | 4,357,545
5. | Other operating income
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Sundry income | - | 9,805
|  | - | 9,805
6. | Operating profit
| The operating profit is stated after charging:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Depreciation and amortisation | 51,518 | 52,177
| Other operating lease rentals | 16,001 | 13,240
7. | Auditors' remuneration
| During the year, the Group obtained the following services from the company's auditors:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Fees payable to the company's auditors for the audit of the consolidated and parent company's financial statements | 15,480 | 14,450
Page 22
PURECARE CARE HOMES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
8. | Employees
| Staff costs, including directors' remuneration, were as follows:
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Wages and salaries | 2,075,582 | 1,792,152 | 18,000 | 18,000
| Social security costs | 188,877 | 138,069 | - | -
| Cost of defined contribution scheme | 38,361 | 29,960 | - | -
|  | 2,302,820 | 1,960,181 | 18,000 | 18,000
| The average monthly number of employees, including the directors, during the year was as follows:
|  |  | Group | Group | Company | Company
|  |  | 2025 | 2024 | 2025 | 2024
|  |  | No. | No. | No. | No.
|  |  | 89 | 74 | 2 | 2
9. | Directors' remuneration
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Directors' emoluments | 18,000 | 18,000
| Benefits in kind | 4,457 | 4,847
|  | 22,457 | 22,847
10. | Interest receivable
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other interest receivable | 1,432 | 9,196
|  | 1,432 | 9,196
Page 23
PURECARE CARE HOMES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
11. | Interest payable and similar expenses
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank interest payable | 444,915 | 486,610
| Finance leases and hire purchase contracts | 3,100 | 3,100
| Other interest payable | - | 268
|  | 448,015 | 489,978
12. | Taxation
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Corporation tax |  |
| Current tax on profits for the year | 385,411 | 191,888
| Adjustments in respect of previous periods | (37,419) | -
| Total current tax | 347,992 | 191,888
| Deferred tax |  |
| Origination and reversal of timing differences | (1,148) | 157,040
| Total deferred tax | (1,148) | 157,040
|  | 346,844 | 348,928
| Factors affecting tax charge for the year
| There were no significant factors that affected the tax charge for the year which has been calculated on the profits on ordinary activities before tax at the standard rate of corporation tax in the UK of 25% (2024 - 25%).
| Factors that may affect future tax charges
There were no factors that may affect future tax charges. Page 24
PURECARE CARE HOMES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
13. | Tangible fixed assets
| Group
|  | Freehold property | Motor vehicles | Fixtures and fittings | Total
|  | £ | £ | £ | £
| Cost or valuation |  |  |  |
| At 1 April 2024 | 9,391,220 | 102,177 | 140,399 | 9,633,796
| Additions | 450,962 | - | 46,339 | 497,301
| At 31 March 2025 | 9,842,182 | 102,177 | 186,738 | 10,131,097
| Depreciation |  |  |  |
| At 1 April 2024 | - | 40,125 | 45,918 | 86,043
| Charge for the year on owned assets | - | 15,513 | 36,005 | 51,518
| At 31 March 2025 | - | 55,638 | 81,923 | 137,561
| Net book value |  |  |  |
| At 31 March 2025 | 9,842,182 | 46,539 | 104,815 | 9,993,536
| At 31 March 2024 | 9,391,220 | 62,052 | 94,481 | 9,547,753
Page 25
PURECARE CARE HOMES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 13.Tangible fixed assets (continued)
| The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Motor vehicles | 32,590 | 43,453
|  | 32,590 | 43,453
Cost or valuation at 31 March 2025 is as follows:
|  |  | Land and buildings
|  |  | £
|  | At cost | 8,917,182
|  | At valuation: |
|  | March 2018 - Market value with vacant possession | 925,000
|  |  | 9,842,182
| If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Group |  |
| Cost | 8,917,182 | 8,808,614
| Net book value | 8,917,182 | 8,808,614
Page 26
PURECARE CARE HOMES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 13.Tangible fixed assets (continued)
| Company
|  | Freehold property | Motor vehicles | Total
|  | £ | £ | £
| Cost or valuation |  |  |
| At 1 April 2024 | 9,391,220 | 77,250 | 9,468,470
| Additions | 450,962 | - | 450,962
| At 31 March 2025 | 9,842,182 | 77,250 | 9,919,432
| Depreciation |  |  |
| At 1 April 2024 | - | 33,797 | 33,797
| Charge for the year on owned assets | - | 10,863 | 10,863
| At 31 March 2025 | - | 44,660 | 44,660
| Net book value |  |  |
| At 31 March 2025 | 9,842,182 | 32,590 | 9,874,772
| At 31 March 2024 | 9,391,220 | 43,453 | 9,434,673
Page 27
PURECARE CARE HOMES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 13.Tangible fixed assets (continued)
| The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Motor vehicles | 32,590 | 43,453
|  | 32,590 | 43,453
Cost or valuation at 31 March 2025 is as follows:
|  |  | Land and buildings
|  |  | £
|  | At cost | 8,917,182
|  | At valuation: |
|  | March 2018 - Market value with vacant possession | 925,000
|  |  | 9,842,182
Page 28
PURECARE CARE HOMES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
14. | Fixed asset investments
| Company
|  | Investments in subsidiary companies
|  | £
| Cost or valuation |
| At 1 April 2024 | 2
| At 31 March 2025 | 2
| Subsidiary undertaking
| The following was a subsidiary undertaking of the company:
| Name | Registered office | Class of shares | Holding
| Purecare Care Services Limited | England and Wales | Ordinary | 100%
15. | Debtors
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Trade debtors | 292,815 | 162,368 | - | -
| Amounts owed by group undertakings | - | - | 3,791,110 | 4,947,026
| Prepayments and accrued income | 67,098 | 67,176 | - | 6,214
|  | 359,913 | 229,544 | 3,791,110 | 4,953,240
16. | Cash and cash equivalents
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Cash at bank and in hand | 532,257 | 684,688 | 113,305 | 370,109
|  | 532,257 | 684,688 | 113,305 | 370,109
Page 29
PURECARE CARE HOMES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
17. | Creditors: Amounts falling due within one year
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Bank loans | 318,624 | 132,835 | 318,624 | 132,835
| Trade creditors | 383,483 | 117,076 | 46,142 | 9,910
| Corporation tax | 363,020 | 191,888 | 44,629 | -
| Other taxation and social security | 43,463 | 32,824 | 1,088 | -
| Obligations under finance lease and hire purchase contracts | 16,812 | 16,812 | 16,812 | 16,812
| Other creditors | 14,310 | 24,498 | 13,066 | 17,583
| Accruals and deferred income | 275,951 | 245,398 | 49,286 | 37,408
|  | 1,415,663 | 761,331 | 489,647 | 214,548
18. | Creditors: Amounts falling due after more than one year
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Bank loans | 5,677,018 | 6,160,690 | 5,677,018 | 6,160,690
| Net obligations under finance leases and hire purchase contracts | 13,248 | 30,061 | 13,248 | 30,061
|  | 5,690,266 | 6,190,751 | 5,690,266 | 6,190,751
Page 30
PURECARE CARE HOMES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
19. | Loans and overdrafts
|  | Group 2024 | Company 2024 | Group 2023 | Company 2023
|  | £ | £ | £ | £
| Payable within one year | 318,625 | 318,625 | 132,835 | 132,835
| Payable after one year | 5,677,017 | 5,677,017 | 6,160,690 | 6,160,690
|  | 5,995,642 | 5,995,642 | 6,293,525 | 6,293,525
| The long-term loans are secured by fixed charges over the company's freehold properties. In June 2022 the company secured a long-term loan of £4,320,000 payable over 5 years, with an interest rate of 2.65% per annum, over the Bank of England Base Rate. The loan is repayable over 5 years by monthly instalments with a final repayment of the outstanding balance of the loan and all accrued interest. During the year the terms of the above loan were updated, interest rate now 1.95% per annum over the Bank of England Base Rate. In May 2023 the company secured a long-term loan of £2,178,000 payable over 5 years, with an interest rate of 2.65% per annum, over the Bank of England Base Rate. The loan is repayable over 5 years by monthly instalments with a final repayment of the outstanding balance of the loan and all accrued interest. During the year the terms of the above loan were updated, interest rate now 1.95% per annum over the Bank of England Base Rate.
20. | Loans
| Analysis of the maturity of loans is given below:
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Amounts falling due within one year |  |  |  |
| Bank loans | 318,624 | 132,835 | 318,624 | 132,835
| Amounts falling due 2-5 years |  |  |  |
| Bank loans | 5,677,018 | 6,160,690 | 5,677,018 | 6,160,690
|  | 5,995,642 | 6,293,525 | 5,995,642 | 6,293,525
Page 31
PURECARE CARE HOMES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
21. | Hire purchase and finance leases
| Minimum lease payments under hire purchase fall due as follows:
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Within one year | 16,812 | 16,812 | 16,812 | 16,812
| Between 1-5 years | 13,248 | 30,061 | 13,248 | 30,061
|  | 30,060 | 46,873 | 30,060 | 46,873
22. | Deferred taxation
| Group
|  | 2025 | 2024
|  | £ | £
| At beginning of year | (174,237) | (17,197)
| Charged to profit or loss | (1,568) | (27,481)
| Utilised in year | 2,716 | (129,559)
| At end of year | (173,089) | (174,237)
Page 32
PURECARE CARE HOMES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 22.Deferred taxation (continued)
| Company
|  | 2025 | 2024
|  | £ | £
| At beginning of year | (146,756) | (17,197)
| Utilised in year | 2,716 | (129,559)
| At end of year | (144,040) | (146,756)
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Accelerated capital allowances | 43,530 | 44,678 | 14,481 | 17,197
| Revalued property capital gains | (129,559) | (129,559) | (129,559) | (129,559)
|  | 173,089 | 174,237 | 144,040 | 146,756
23. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 100 (2024 - 100) Ordinary shares shares of £1.00 each | 100 | 100
24. | Pension commitments
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. The pension cost charge represents contributions payable by the company to the fund and amounted to £37,040 (2024: £29,960). Contributions totalling £1,244 (2024: £6,915) were payable to these funds at the balance sheet date and are included in other creditors falling due within one year.
25. | Related party transactions
| Included within other creditors due within one year is an amount of £13,065 (2024 - £17,583) due from the directors of the company.
Page 33
PURECARE CARE HOMES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
26. | Post balance sheet events
Subsequent to the year-end, in April 2025, a report was published by the Care Quality Commission (CQC) following an inspection of one of the Group’s care homes conducted during the financial year. The report rated the service as "Inadequate," leading to the home being placed into special measures and the imposition of an embargo by the local authority on new admissions. Management has taken immediate steps to address the findings, including the engagement of external quality consultants and the appointment of new quality management personnel. The Group is actively working to implement a comprehensive improvement plan. At the date of approval of these financial statements, the home is awaiting reinspection and the embargo is therefore still in place. Also since the rating from CQC, the occupancy of the home has not been impacted by the embargo. This is not expected to have a significant impact on the trading position of the Group.
Page 34