REGISTERED NUMBER: 10078279 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

HARBOUR HEALTHCARE 3 LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Income Statement

8

Other Comprehensive Income

9

Balance Sheet

10

Statement of Changes in Equity

11

Notes to the Financial Statements

12

DIRECTORS:

A F Worsley

S A Worsley

A L Worsley

REGISTERED OFFICE:

Lodge House

Dodge Hill

Stockport

Cheshire

SK4 1RD

REGISTERED NUMBER:

10078279 (England and Wales)

AUDITORS:

Walker Begley UK Limited

207 Knutsford Road

Grappenhall

Warrington

Cheshire

WA4 2QL

The directors present their strategic report for the year ended 31 March 2025.

REVIEW OF BUSINESS

During the year, the group delivered growth in both turnover and profitability, reflecting strong operational performance and continued demand for its services. The directors remain focused on maintaining efficiency, quality of care and effective management of resources to support the business’s ongoing success.

While financial performance has improved, the nursing home sector remains a challenging environment, with rising operational costs and ongoing regulatory requirements. The directors continue to monitor the business closely to ensure it adapts effectively to these challenges and maintains long-term sustainability.

The directors are committed to the well being of residents and this underpins all strategic decisions and reinforces the company’s dedication to delivering the highest standards of care.

PRINCIPAL RISKS AND UNCERTAINTIES

The nursing home industry, while continuing to grow, remains financially challenging. Local Authorities are experiencing increasing pressure on their resources, resulting in a greater proportion of funding being met by private fee payers. The directors closely monitor the availability and allocation of resources to ensure the continued financial stability of the business.

Compliance continues to be a key focus for the company. The Care Quality Commission sets the regulatory standards applicable to all operators, and the company is committed to maintaining full compliance with these requirements.

The company utilises conventional forms of working capital to support its day-to-day operations. The figures presented in the financial statements reflect the actual amounts recoverable and payable at the year end. The directors receive monthly financial reports, enabling them to effectively manage the company’s working capital requirements.

Given the simplicity of the business, the company's directors are of the opinion that the inclusion of the analysis of key performance indicators is not necessary for an understanding of the development, performance or position of the company.

FUTURE DEVELOPMENTS

The directors continue to explore opportunities to strengthen and grow the business while maintaining the highest standards of care. Focus areas include improving operational efficiency, investing in staff development, and enhancing the quality of services provided to residents. The company will also remain alert to emerging trends and regulatory changes in the sector, ensuring it can adapt effectively and continue to deliver sustainable long-term growth.

ON BEHALF OF THE BOARD:

S A Worsley - Director

15 December 2025

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

DIVIDENDS

No dividends will be distributed for the year ended 31 March 2025.

DIRECTORS

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

A F Worsley

S A Worsley

A L Worsley

EMPLOYEES

The company is an equal opportunities employer and no discrimination is made regardless of age, gender, colour, creed, disability or sexual orientation. Any disabled employee is provided with individual appraisal and review and from this a development plan and pathway is created. The company provides support via equipment or materials as required to enable each employee to have equality with their colleagues.

All employees have regular meetings with their managers in accordance with legislative requirements.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the 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 of the profit or loss of the company 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 transactions and disclose with reasonable accuracy at any time the financial position of the company 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 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 company'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 company's auditors are aware of that information.

AUDITORS

The auditors, Walker Begley UK Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

S A Worsley - Director

15 December 2025

Opinion

We have audited the financial statements of Harbour Healthcare 3 Limited (the 'company') for the year ended 31 March 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and 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 company's affairs as at 31 March 2025 and of its 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 company 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 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 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 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 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 company and its environment obtained in the course of the audit, we have not identified material misstatements in the 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, or returns adequate for our audit have not been received from branches not visited by us; or

-	the 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 three, 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 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 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:

In identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

- the nature of the industry and sector, control environment and business performance;

- the results of our enquiries of management, covering their identification and assessment of the risk of irregularities;

- any matters we identified, having reviewed documentation available;

- relevant laws and regulations, including enquiring of any non-compliance or matters alerting us to non-compliance;

- matters discussed among the audit team regarding how and where fraud might occur in the financial statements and any indicators of fraud.

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.

Kevin Walker (Senior Statutory Auditor)

for and on behalf of Walker Begley UK Limited

207 Knutsford Road

Grappenhall

Warrington

Cheshire

WA4 2QL

15 December 2025

TURNOVER

9,586,003

8,619,560

Cost of sales

7,203,039

6,307,670

GROSS PROFIT

2,382,964

2,311,890

Administrative expenses

2,034,618

2,110,531

OPERATING PROFIT

4

348,346

201,359

Interest payable and similar expenses

5

3,565

9,123

PROFIT BEFORE TAXATION

344,781

192,236

Tax on profit

6

2,003

34,504

PROFIT FOR THE FINANCIAL YEAR

342,778

157,732

PROFIT FOR THE YEAR

342,778

157,732

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

342,778

157,732

FIXED ASSETS

Tangible assets

7

72,181

64,166

CURRENT ASSETS

Debtors

8

8,630,496

6,806,576

Cash at bank and in hand

33,647

445,432

8,664,143

7,252,008

CREDITORS

Amounts falling due within one year

9

6,589,757

5,514,388

NET CURRENT ASSETS

2,074,386

1,737,620

TOTAL ASSETS LESS CURRENT LIABILITIES

2,146,567

1,801,786

PROVISIONS FOR LIABILITIES

11

18,045

16,042

NET ASSETS

2,128,522

1,785,744

CAPITAL AND RESERVES

Called up share capital

12

200

200

Retained earnings

13

2,128,322

1,785,544

SHAREHOLDERS' FUNDS

2,128,522

1,785,744

The financial statements were approved by the Board of Directors and authorised for issue on 15 December 2025 and were signed on its behalf by:

S A Worsley - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 April 2023

200

1,627,812

1,628,012

Changes in equity

Total comprehensive income

-

157,732

157,732

Balance at 31 March 2024

200

1,785,544

1,785,744

Changes in equity

Total comprehensive income

-

342,778

342,778

Balance at 31 March 2025

200

2,128,322

2,128,522

1.	STATUTORY INFORMATION

Harbour Healthcare 3 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.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows;

•

the requirement of paragraph 3.17(d);

•

the requirement of paragraph 33.7.

Turnover

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

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Taxation

Taxation for the year 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 year 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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

31/3/25

31/3/24

£

£

Wages and salaries

6,010,022

5,282,477

Social security costs

510,199

367,552

Other pension costs

192,705

184,536

6,712,926

5,834,565

The average number of employees during the year was as follows:

31/3/25

31/3/24

Nursing and support

234

212

31/3/25

31/3/24

£

£

Directors' remuneration

-

-

4.	OPERATING PROFIT

The operating profit is stated after charging:

31/3/25

31/3/24

£

£

Hire of plant and machinery

4,717

5,192

Depreciation - owned assets

20,217

17,371

Auditors' remuneration

7,080

8,050

5.

INTEREST PAYABLE AND SIMILAR EXPENSES

31/3/25

31/3/24

£

£

Bank interest

3

8

Other interest

3,562

9,115

3,565

9,123

6.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

31/3/25

31/3/24

£

£

Current tax:

UK corporation tax

-

33,244

Deferred tax

2,003

1,260

Tax on profit

2,003

34,504

Reconciliation of total tax charge included in profit and loss

The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

31/3/25

31/3/24

£

£

Profit before tax

344,781

192,236

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%)

86,195

48,059

Effects of:

Expenses not deductible for tax purposes

565

-

Capital allowances in excess of depreciation

(2,003

)

(1,455

)

Deferred tax movement

2,003

1,260

adjustment

Group relief

(84,757

)

(13,360

)

Total tax charge

2,003

34,504

7.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 April 2024

44,539

191,119

235,658

Additions

28,232

-

28,232

At 31 March 2025

72,771

191,119

263,890

DEPRECIATION

At 1 April 2024

16,771

154,721

171,492

Charge for year

11,118

9,099

20,217

At 31 March 2025

27,889

163,820

191,709

NET BOOK VALUE

At 31 March 2025

44,882

27,299

72,181

At 31 March 2024

27,768

36,398

64,166

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

£

Trade debtors

698,031

721,854

Amounts owed by group undertakings

7,352,565

5,431,736

Amounts owed by participating interests

549,204

618,690

Other debtors

173

5,787

Prepayments

30,523

28,509

8,630,496

6,806,576

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

£

Bank loans and overdrafts (see note 10)

-

54

Trade creditors

90,354

313,759

Amounts owed to group undertakings

5,360,103

4,653,708

Amounts owed to participating interests

520,801

-

Tax

71,763

68,400

Social security and other taxes

72,247

56,749

Net wages

(144

)

93

Pensions creditor

(4,647

)

10,919

Accrued expenses

479,280

410,706

6,589,757

5,514,388

10.

LOANS

An analysis of the maturity of loans is given below:

31/3/25

31/3/24

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

-

54

11.	PROVISIONS FOR LIABILITIES

31/3/25

31/3/24

£

£

Deferred tax

18,045

16,042

Deferred

tax

£

Balance at 1 April 2024

16,042

Provided during year

2,003

Balance at 31 March 2025

18,045

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/3/25

31/3/24

value:

£

£

200

Ordinary

1

200

200

13.

RESERVES

Retained

earnings

£

At 1 April 2024

1,785,544

Profit for the year

342,778

At 31 March 2025

2,128,322

14.	RELATED PARTY DISCLOSURES

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.

15.	ULTIMATE CONTROLLING PARTY

The company is a subsidiary of Harbour Healthcare Holdings Limited. The ultimate parent undertaking is Harbour Healthcare Group Limited. The ultimate controlling party is Andrew Worsley. Copies of the consolidated financial statements of Harbour Healthcare Group Limited are available from its registered office at the following address:

Lodge House

Dodge Hill

Stockport

Cheshire

SK4 1RD