REGISTERED NUMBER: 14852861 (England and Wales)

FINANCIAL STATEMENTS

FOR THE PERIOD

1 FEBRUARY 2024 TO 30 APRIL 2025

FOR

IVYBANK CARE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

M P Madden

REGISTERED OFFICE:

Granville Hall

Granville Road

Leicester

LE1 7RU

REGISTERED NUMBER:

14852861 (England and Wales)

SENIOR STATUTORY AUDITOR:

Mr P Bott FCA

AUDITORS:

Mark J Rees LLP Chartered Accountants

and Statutory Auditors

Granville Hall

Granville Road

Leicester

LE1 7RU

FIXED ASSETS

Intangible assets

4

47,390

-

Tangible assets

5

5,818,090

-

5,865,480

-

CURRENT ASSETS

Debtors

6

216,799

100

Cash at bank and in hand

100,909

-

317,708

100

CREDITORS

Amounts falling due within one year

7

649,885

-

NET CURRENT (LIABILITIES)/ASSETS

(332,177

)

100

TOTAL ASSETS LESS CURRENT LIABILITIES

5,533,303

100

CREDITORS

Amounts falling due after more than one year

8

(5,807,377

)

-

PROVISIONS FOR LIABILITIES

10

(14,590

)

-

NET (LIABILITIES)/ASSETS

(288,664

)

100

CAPITAL AND RESERVES

Called up share capital

11

100

100

Retained earnings

(288,764

)

-

SHAREHOLDERS' FUNDS

(288,664

)

100

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 December 2025 and were signed by:

M P Madden - Director

1.	STATUTORY INFORMATION

Ivybank Care Limited 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Comparative Figures

The financial statements cover an extended accounting period of 15 months from 01 February 2024 to 30 April 2025. The company began trading during the current financial year. The company was dormant throughout the preceding financial year, and consequently, the results for the prior year are not comparable with those of the current year.

Going Concern

The financial statements have been prepared on a going concern basis. As at 30 April 2025 the liabilities exceed the assets by £288,664. Continuation to trade depends upon the support of the group. The directors have considered a 12 month period post approval and have indicated that group support will be available.

Should the company be unable to continue to trade, adjustments would have to be made to reduce the assets to their recoverable amount, to provide for any further liabilities which may arise, and to reclassify fixed assets as current.

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 estimates

In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amounts 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts and rebates.

Turnover represents income receivable from health and care provision services rendered and goods supplied.

Turnover is recognised in the accounting period in which the company obtains the right to consideration in exchange for its performance.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2024, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Long leasehold

-

equal instalments over the lease period

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

over 3 years

Taxation

Taxation for the period 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 period 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.

Hire purchase and leasing commitments

Assets held under finance leases which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or if lower, the present value of the minimum lease payments as determined at the inception of the lease and are depreciated over the shorter of the lease terms and their useful lives). The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the profit and loss account over the period of the lease to produce a constant periodic rate of interest on the remaining balance of the liability.

Lease liabilities are remeasured when there is a change in future lease payments arising from a change in an index or rate, including changes in market rental rates following a market rent review, or, as appropriate, changes in the assessment of whether a renewal or purchase option is reasonably certain to be exercised or a break clause is reasonably certain not to be exercised. The revised lease payments are discounted using the company’s incremental borrowing rate at the lease commencement date when the rate implicit in the lease cannot be readily determined. The amount of the remeasurement of the lease liability is reflected as an adjustment to the carrying amount of the long leasehold asset. The exception being when the carrying amount of the right-of-use asset has been reduced to zero then any excess is recognised in the income statement.

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.

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, where material, at amortised cost using the effective interest method, less any impairment.

Creditors

Short term creditors are measured at transaction price, less any impairment. Other financial liabilities, including bank loans are measured initially at fair value, net of transaction costs, and are measured subsequently, where material, at amortised cost using the effective interest method, less any impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 39 (2024 - NIL ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

Additions

59,213

At 30 April 2025

59,213

AMORTISATION

Charge for period

11,823

At 30 April 2025

11,823

NET BOOK VALUE

At 30 April 2025

47,390

5.	TANGIBLE FIXED ASSETS

Fixtures

Long

Plant and

and

Motor

leasehold

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

Additions

5,990,068

7,994

38,085

20,900

6,057,047

At 30 April 2025

5,990,068

7,994

38,085

20,900

6,057,047

DEPRECIATION

Charge for period

230,226

343

7,227

1,161

238,957

At 30 April 2025

230,226

343

7,227

1,161

238,957

NET BOOK VALUE

At 30 April 2025

5,759,842

7,651

30,858

19,739

5,818,090

During the period ended 30 April 2025, Welford Healthcare South Limited entered into new lease agreement. This agreement resulted in the recognition of additional right-of-use assets within tangible fixed assets, with corresponding lease liabilities recognised on the balance sheet in accordance with FRS 102.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

123,061

-

Amounts owed by group undertakings

17,101

-

Other debtors

76,637

100

216,799

100

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Finance leases (see note 9)

89,778

-

Trade creditors

49,062

-

Amounts owed to group undertakings

296,606

-

Taxation and social security

24,004

-

Other creditors

190,435

-

649,885

-

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Finance leases (see note 9)

5,807,377

-

2025

2024

£

£

Amounts falling due in more than five years:

Repayable by instalments

Finance leases

5,397,313

-

9.	LEASING AGREEMENTS

Minimum lease payments under finance leases fall due as follows:

Finance leases

2025

2024

£

£

Net obligations repayable:

Within one year

89,778

-

Between one and five years

410,064

-

In more than five years

5,397,313

-

5,897,155

-

10.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

Accelerated capital allowances

14,590

-

Deferred

tax

£

Provided during period

14,590

Balance at 30 April 2025

14,590

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

£1

100

100

12.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr P Bott FCA (Senior Statutory Auditor)

for and on behalf of Mark J Rees LLP Chartered Accountants

13.	PENSION COMMITMENTS

The company operates defined contribution pension schemes. The assets of the schemes are held separately from those of the company within independently administered funds. The total contributions paid in the period amounted to £22,400 (2024: £NIL). Contributions of £1,952 (2024: £NIL) were unpaid at the year end.

14.	RELATED PARTY DISCLOSURES

At 30 April 2025 the company owed £46,439 (2024: £NIL) to related parties.

All of the related party companies share the same director.

15.	ULTIMATE CONTROLLING PARTY

The parent and ultimate controlling parent company at the balance sheet date is Welford Healthcare ChH Limited, a private limited company incorporated and registered in England and Wales. The registered office of Welford Healthcare ChH Limited is Granville Hall, Granville Road, Leicester, LE1 7RU and copies of the parents financial statements are available from Companies House, Crown Way, Cardiff, CF14 3UZ.