REGISTERED NUMBER: 03624767 (England and Wales)

The Coin Group Limited

Group Strategic Report, Report of the Directors and

Audited Consolidated Financial Statements for the Year Ended 31st March 2025

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

5

Report of the Independent Auditors

7

Consolidated Income Statement

11

Consolidated Other Comprehensive Income

12

Consolidated Balance Sheet

13

Company Balance Sheet

14

Consolidated Statement of Changes in Equity

15

Company Statement of Changes in Equity

16

Consolidated Cash Flow Statement

17

Notes to the Consolidated Cash Flow Statement

18

Notes to the Consolidated Financial Statements

20

DIRECTORS:

E Bland

W R Whymark

M J E Bland

REGISTERED OFFICE:

Unit 1, Lancaster Court

Coronation Road

Cressex Business Park

High Wycombe

Buckinghamshire

HP12 3TD

REGISTERED NUMBER:

03624767 (England and Wales)

SENIOR STATUTORY AUDITOR:

S. Paramaguru (FCCA)

AUDITORS:

Param & Company Limited

1st Floor

44-50 The Broadway

Southall

Middlesex

UB1 1QB

The directors present their strategic report of the company and the group for the year ended 31st March 2025.

REVIEW OF BUSINESS

The Group's principal activities remain the provision of residential care facilities, supported living services and move-on accommodation across nine care homes in the Buckinghamshire area.

The Group also continues to provide temporary housing solutions for the homeless through bed and breakfast facilities provide to the local authority.

Additionally, the Group has created new accommodation through a construction project, projects which are now completed post year end.

Revenue is primarily derived from Local authority funded placements, and the Group invests in skilled staff, regulated facilities, and digital care management systems to maintain compliance with Care Quality Commission (CQC) requirements and enhance operational efficiency.

PRINCIPAL RISKS AND UNCERTAINTIES

Key risks faced by the Group include:

Workforce recruitment and retention: Ongoing sector-wide staffing shortages, mitigated by improved training, retention bonuses, and international recruitment.

Regulatory compliance: Risk of non-compliance with CQC or health & safety standards, managed through robust internal quality audits.

Funding environment: Reliance on local authority funding rates, monitored through active engagement with commissioners.

Inflationary pressures: Rising wage and utility costs, addressed through efficiency programmes and cost control measures.

Reputational risk: Ensuring consistent high standards of care to maintain trust with service users and commissioners.

PERFORMANCE OVERVIEW

The group's performance continues to be primarily influenced by the availability and occupancy rates of its beds. While the number of available beds has remained consistent in recent years, occupancy has continued to improve.

Occupancy rates for the year were:

Service

2025

2024

2023

No. of Beds

Occupancy

No. of Beds

Occupancy

No of Beds

Occupancy

Residential Care

19

91%

19

84%

19

92%

Supported Living

38

99%

38

94%

36

76%

Homelessness

40

90%

40

96%

40

62%

Overall

97

93%

97

92%

95

82%

As occupancy rates have risen over the past year within the care services, turnover has continued to improve. Residential care and supported living income saw an increase of 7.2%. Although occupancy rates within the Bed and Breakfast accommodation has fallen within the year, this still averages a 90% occupancy rate.

The income for construction services has seen a reduction in the year as the current construction projects come to an end and we anticipate a significant reduction in the coming twelve months as these projects are completed. However, the finalised accommodation should provide new rental income for the group in the next year.

Income for the year, per service was:

Service

2025

2024

2023

Residential Care

2,361,287

2,174,042

2,208,407

Supported Living

2,114,098

2,000,475

1,762,091

Homelessness

649,246

701,616

471,719

Construction Income

29,002

39,483

8,508

Other Group Income

515,231

631,108

435,056

Overall

5,668,864

5,546,724

4,885,241

Pressure remains high on the group's gross margins with increases in national minimum wages outweighing funding increases form local authorities . Despite these ongoing challenges, the group has managed to maintain its gross margin for the year. The group continues to closely monitor price increases and adjust its policies to mitigate their impact in future years.

Staff costs remain the largest single expense for the group, and these are continuously monitored by senior management using key performance indicators to ensure they align with the services provided. For the current year, staff costs, as a percentage of turnover, have increased to 47.8% (from 41.8% in 2024). This increase is largely due to the differential between local authority fee increases and the rise in national minimum wages. With further minimum wage increases in the coming year, coupled with an increase in Employers national insurance costs, the group anticipates increased pressure on staffing costs will continue to have an impact on margins. It will continue to carefully monitor the impact of these changes..

The group's net assets have seen a decrease to £7.5 million (compared to £9.9 million in 2024) due to the revaluation of various properties within the year. These asset values are regularly reviewed to assess potential opportunities for future growth.

CONCLUSION

The financial statements have been prepared on a going concern basis, which assumes that the company will continue its operations for the foreseeable future and will be able to realize its assets and discharge its liabilities in the normal course of business.

The board considers that the group is well placed to manage its business risks successfully and conclude that there is a reasonable expectation that the group will continue in operation and would be able to meet liabilities as they fall due for the foreseeable future.

ON BEHALF OF THE BOARD:

E Bland - Director

30th October 2025

The directors present their report with the financial statements of the company and the group for the year ended 31st March 2025.

DIVIDENDS

The total distribution of dividends for the year ended 31st March 2025 will be £ 9,035 .

DIRECTORS

The directors shown below have held office during the whole of the period from 1st April 2024 to the date of this report.

E Bland

W R Whymark

Other changes in directors holding office are as follows:

M J E Bland - appointed 1st January 2025

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 and then apply them consistently;

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

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

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

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

AUDITORS

The auditors, Param & Company Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

E Bland - Director

30th October 2025

Opinion

We have audited the financial statements of The Coin Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31st March 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the group's and of the parent company affairs as at 31st March 2025 and of the group's loss 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 UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the 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 and 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.

Other information

The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

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

-	the Group Strategic Report and the Report of the Directors 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 Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept 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.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page five, 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 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 a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

o Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

o Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control.

o Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.

o Conclude on the appropriateness of the director's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion.

Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the company to cease to continue as a going concern.

o Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

o Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the company to express an opinion on the financial statements. We are responsible for the direction, supervision and performance of the company audit. We remain solely responsible for our audit opinion.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

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

Use of our report

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

S. Paramaguru (FCCA) (Senior Statutory Auditor)

for and on behalf of Param & Company Limited

1st Floor

44-50 The Broadway

Southall

Middlesex

UB1 1QB

30th October 2025

TURNOVER

5,639,862

5,507,241

Cost of sales

3,640,821

3,427,091

GROSS PROFIT

1,999,041

2,080,150

Administrative expenses

1,177,816

1,207,421

821,225

872,729

Other operating income

60,652

48,284

OPERATING PROFIT

5

881,877

921,013

Gain/loss on revaluation of investment property

(2,564,864

)

39,483

(1,682,987

)

960,496

Interest payable and similar expenses

6

434,509

408,180

(LOSS)/PROFIT BEFORE TAXATION

(2,117,496

)

552,316

Tax on (loss)/profit

7

(1,420,712

)

293,799

(LOSS)/PROFIT FOR THE FINANCIAL YEAR

(696,784

)

258,517

(Loss)/profit attributable to:

Owners of the parent

(696,784

)

258,517

(LOSS)/PROFIT FOR THE YEAR

(696,784

)

258,517

OTHER COMPREHENSIVE INCOME

Revaluation Reserve

(1,650,000

)

371,569

Income tax relating to other comprehensive income

330,000

(98,829

)

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

(1,320,000

)

272,740

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(2,016,784

)

Prior year adjustment

(1,256,050

)

TOTAL COMPREHENSIVE INCOME SINCE LAST ANNUAL REPORT

(724,793

)

Total comprehensive income attributable to:

Owners of the parent

(2,016,784

)

(724,793

)

FIXED ASSETS

Intangible assets

11

475,594

535,044

Tangible assets

12

13,685,112

15,845,762

Investments

13

-

-

Investment property

14

6,303,500

6,523,817

20,464,206

22,904,623

CURRENT ASSETS

Debtors

15

5,657,328

5,453,935

Cash at bank and in hand

35,802

75,318

5,693,130

5,529,253

CREDITORS

Amounts falling due within one year

16

9,539,862

8,036,345

NET CURRENT LIABILITIES

(3,846,732

)

(2,507,092

)

TOTAL ASSETS LESS CURRENT LIABILITIES

16,617,474

20,397,531

CREDITORS

Amounts falling due after more than one year

17

(7,378,852

)

(7,562,873

)

PROVISIONS FOR LIABILITIES

21

(1,320,791

)

(2,891,008

)

NET ASSETS

7,917,831

9,943,650

CAPITAL AND RESERVES

Called up share capital

22

2

2

Revaluation reserve

23

6,686,006

8,006,006

Retained earnings

23

1,231,823

1,937,642

SHAREHOLDERS' FUNDS

7,917,831

9,943,650

The financial statements were approved by the Board of Directors and authorised for issue on 30th October 2025 and were signed on its behalf by:

W R Whymark - Director

FIXED ASSETS

Intangible assets

11

-

-

Tangible assets

12

3,637,634

4,967,021

Investments

13

3,004

3,004

Investment property

14

123,500

125,000

3,764,138

5,095,025

CURRENT ASSETS

Debtors

15

8,945,805

7,681,888

Cash at bank and in hand

19,475

15,065

8,965,280

7,696,953

CREDITORS

Amounts falling due within one year

16

6,010,488

4,717,558

NET CURRENT ASSETS

2,954,792

2,979,395

TOTAL ASSETS LESS CURRENT LIABILITIES

6,718,930

8,074,420

CREDITORS

Amounts falling due after more than one year

17

(2,043,119

)

(2,043,230

)

PROVISIONS FOR LIABILITIES

21

(666,886

)

(1,016,383

)

NET ASSETS

4,008,925

5,014,807

CAPITAL AND RESERVES

Called up share capital

22

2

2

Revaluation reserve

2,063,960

3,383,960

Retained earnings

1,944,963

1,630,845

SHAREHOLDERS' FUNDS

4,008,925

5,014,807

Company's profit for the financial year

314,118

386,347

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

The financial statements were approved by the Board of Directors and authorised for issue on 30th October 2025 and were signed on its behalf by:

W R Whymark - Director

Called up

share

Retained

Revaluation

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1st April 2023

2

2,935,175

7,733,266

10,668,443

Prior year adjustment

-

(1,256,050

)

-

(1,256,050

)

As restated

2

1,679,125

7,733,266

9,412,393

Changes in equity

Total comprehensive income

-

258,517

272,740

531,257

Balance at 31st March 2024

2

1,937,642

8,006,006

9,943,650

Changes in equity

Total comprehensive income

-

(696,784

)

(1,320,000

)

(2,016,784

)

Dividends

-

(9,035

)

-

(9,035

)

Balance at 31st March 2025

2

1,231,823

6,686,006

7,917,831

Called up

share

Retained

Revaluation

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1st April 2023

2

2,130,105

3,383,960

5,514,067

Prior year adjustment

-

(885,607

)

-

(885,607

)

As restated

2

1,244,498

3,383,960

4,628,460

Changes in equity

Profit for the year

-

386,347

-

386,347

Total comprehensive income

-

386,347

-

386,347

Balance at 31st March 2024

2

1,630,845

3,383,960

5,014,807

Changes in equity

Profit for the year

-

314,118

-

314,118

Other comprehensive income

-

-

(1,320,000

)

(1,320,000

)

Total comprehensive income

-

314,118

(1,320,000

)

(1,005,882

)

Balance at 31st March 2025

2

1,944,963

2,063,960

4,008,925

Cash flows from operating activities

Cash generated from operations

1

1,975,368

1,358,006

Interest paid

(434,509

)

(408,180

)

Tax paid

(27,436

)

(153,577

)

Net cash from operating activities

1,513,423

796,249

Cash flows from investing activities

Purchase of intangible fixed assets

-

(594,493

)

Purchase of tangible fixed assets

(2,890

)

(572,638

)

Purchase of investment property

(1,618,006

)

(3,833,176

)

Sale of investment property

-

549,244

Net cash from investing activities

(1,620,896

)

(4,451,063

)

Cash flows from financing activities

New loans in year

841,238

6,070,084

Loan repayments in year

(175,772

)

(2,414,138

)

Amount introduced by directors

384,828

-

Amount withdrawn by directors

(1,093,123

)

(330,556

)

Share issue

-

(1

)

Government grants

21,728

7,500

Equity dividends paid

(9,035

)

-

Net cash from financing activities

(30,136

)

3,332,889

Decrease in cash and cash equivalents

(137,609

)

(321,925

)

Cash and cash equivalents at beginning of year

2

75,318

397,243

Cash and cash equivalents at end of year

2

(62,291

)

75,318

1.	RECONCILIATION OF (LOSS)/PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

31.3.25

31.3.24

as restated

£

£

(Loss)/profit before taxation

(2,117,496

)

552,316

Depreciation charges

147,448

95,215

Loss on revaluation of fixed assets

2,593,865

-

Government grants

(21,728

)

(7,500

)

Finance costs

434,509

408,180

1,036,598

1,048,211

Decrease/(increase) in trade and other debtors

504,904

(221,436

)

Increase in trade and other creditors

433,866

531,231

Cash generated from operations

1,975,368

1,358,006

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31st March 2025

31.3.25

1.4.24

£

£

Cash and cash equivalents

35,802

75,318

Bank overdrafts

(98,093

)

-

(62,291

)

75,318

Year ended 31st March 2024

31.3.24

1.4.23

as restated

£

£

Cash and cash equivalents

75,318

397,243