Registration number: 12087784

Country Cousins Homecare Agencies Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 8

Country Cousins Homecare Agencies Ltd

Company Information

Directors

Dr J M Grewar D Kent M A Smith C Young

Registered office

Suite 5g Gatwick House Peeks Brook Lane Horley RH6 9ST

Auditors

Hazlewoods LLP Windsor House Bayshill Road Cheltenham GL50 3AT

Country Cousins Homecare Agencies Ltd

(Registration number: 12087784)
Balance Sheet as at 31 March 2025

	Note	2025  £ 000	2024  £ 000
Fixed assets
Intangible assets	4	7,148	8,740
Tangible assets	5	68	71
		7,216	8,811
Current assets
Debtors	6	550	583
Cash at bank and in hand		11	16
		561	599
Creditors: Amounts falling due within one year	7	(7,061)	(4,791)
Net current liabilities		(6,500)	(4,192)
Total assets less current liabilities		716	4,619
Creditors: Amounts falling due after more than one year	7	(12,700)	(12,700)
Deferred tax liabilities		(252)	(299)
Net liabilities		(12,236)	(8,380)
Capital and reserves
Called up share capital	9	-	-
Share premium reserve		2,000	2,000
Profit and loss account		(14,236)	(10,380)
Total equity		(12,236)	(8,380)

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 9 December 2025 and signed on its behalf by:
 

C Young
Director

Country Cousins Homecare Agencies Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Suite 5g
Gatwick House
Peeks Brook Lane
Horley
RH6 9ST

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The company’s financial statements are presented in Sterling and all values are rounded to the nearest thousand pounds (£’000) except when otherwise indicated.

Name of parent of group

These financial statements are consolidated in the financial statements of PWC Newco Limited.

The financial statements of PWC Newco Limited may be obtained from Companies House.

Going concern

Notwithstanding the net liability position shown on the balance sheet, the financial statements have been prepared on the going concern basis. The directors have considered the forecast cash flows and the cash requirements of the business in their assessment of going concern. As a result of this assessment it was concluded that the cash requirements of the business for the 12 months from signing will be met through a combination of operational cash flows and intergroup loans and thus the business is deemed to operate as a going concern.

Judgements and estimation uncertainty
The preparation of financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as the balance sheet date and the amounts reported for revenues and expenses during the period, that are not readily apparent from other sources. However, the nature of estimation means that actual outcomes may differ from those 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 and in any future periods affected.
 

Revenue recognition

Revenue generated from care services arranged or provided is recognised when the care has been provided. Longer care assignments not completed in the period are partially accrued for depending on care delivered in the period.

Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, value added tax and other sales taxes.

Country Cousins Homecare Agencies Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current 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 operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Computers and other equipment	Straight line over 3 years

Intangible assets

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date.

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life. The useful lives of intangible assets are as follows:

Asset class	Amortisation method and rate
Goodwill	Straight line over 10 years
Brand	Straight line over 10 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

Country Cousins Homecare Agencies Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Country Cousins Homecare Agencies Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

Financial instruments (continued)

Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

The recoverable amount of goodwill is derived from measurement of the present value of the future cash flows of the cash-generating units ('CGUs') of which the goodwill is a part. Any impairment loss in respect of a CGU is allocated first to the goodwill attached to that CGU, and then to other assets within that CGU on a pro-rata basis.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. Where a reversal of impairment occurs in respect of a CGU, the reversal is applied first to the assets (other than goodwill) of the CGU on a pro-rata basis and then to any goodwill allocated to that CGU.

For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was as follows:

	2025  No.	2024  No.
Average number of employees	43	47

4

Intangible assets

	Goodwill  £ 000	Brands  £ 000	Total £ 000
Cost
At 1 April 2024 and at 31 March 2025	13,323	2,433	15,756
Amortisation
At 1 April 2024	5,941	1,075	7,016
Amortisation charge	1,349	243	1,592
At 31 March 2025	7,290	1,318	8,608
Carrying amount
At 31 March 2025	6,033	1,115	7,148
At 31 March 2024	7,382	1,358	8,740

Country Cousins Homecare Agencies Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

5

Tangible assets

	Computers and other equipment  £ 000
Cost
At 1 April 2024	164
Additions	43
At 31 March 2025	207
Depreciation
At 1 April 2024	93
Charge for the year	46
At 31 March 2025	139
Carrying amount
At 31 March 2025	68
At 31 March 2024	71

6

Debtors

	2025 £ 000	2024 £ 000
Trade debtors	393	254
Other debtors	108	168
Prepayments	49	161
	550	583

7

Creditors

	Note	2025  £ 000	2024  £ 000
Due within one year
Trade creditors		64	187
Amounts owed to group undertakings		6,477	4,258
Social security and other taxes		246	168
Outstanding defined contribution pension costs		12	16
Other creditors		1	-
Accrued expenses		261	162
		7,061	4,791
Due after one year
Loans and borrowings	8	12,700	12,700

Country Cousins Homecare Agencies Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

8

Loans and borrowings

	2025 £ 000	2024 £ 000
Non-current loans and borrowings
Amounts owed to group undertakings	12,700	12,700

Amounts owed to group undertakings are unsecured. Interest is charged at a rate of 10% per annum and the balance is repayable on 1 March 2026.

9

Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	2	2	2	2

10

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of operating lease commitments not included in the balance sheet is £28,000 (2024 - £53,000).

The company is bound by an intra-group cross guarantee (which is secured over the company's trade and assets) in respect of bank debt with other members of the group headed by PWC Holdco 1 Limited. At 31 March 2025 the amount guaranteed is £29.889m (2024 - £32.586m).

11

Parent and ultimate parent undertaking

The company's immediate parent is Trinity Homecare Holdings Limited, incorporated in England and Wales.

 The ultimate parent is PWC Newco Limited, incorporated in England and Wales.

 The most senior parent entity producing publicly available financial statements is PWC Newco Limited. These financial statements are available upon request from Companies House.

 The ultimate controlling party is Limerston Capital LLP.

12

Disclosure under Section 444(5B) CA 2006 relating to the independent auditor's report

As permitted by Section 444 CA 2006, these accounts do not contain a copy of the company’s Profit and Loss account or a copy of the Directors’ Report. Accordingly, the Independent Auditors’ Report has also been omitted.

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 9 December 2025 was Martin Howard, who signed for and on behalf of Hazlewoods LLP.