REGISTERED NUMBER: 03253377 (England and Wales)

COUNTRY COURT CARE HOMES LIMITED

STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Strategic Report

2

to

4

Report of the Directors

5

to

6

Report of the Independent Auditors

7

to

9

Income Statement

10

Other Comprehensive Income

11

Statement of Financial Position

12

Statement of Changes in Equity

13

Notes to the Financial Statements

14

to

21

DIRECTORS:

A A Kachra

A Kachra

A Kachra

SECRETARY:

A Kachra

REGISTERED OFFICE:

C/O Duncan &Toplis

Enterprise Way

Pinchbeck

Spalding

Lincolnshire

PE11 3YR

REGISTERED NUMBER:

03253377 (England and Wales)

SENIOR STATUTORY AUDITOR:

Alistair Main FCA

AUDITORS:

Duncan & Toplis Audit Limited, Statutory Auditor

Enterprise Way

Pinchbeck

Spalding

Lincolnshire

PE11 3YR

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

REVIEW OF BUSINESS

For the year ending March 2025, there was a significant rise in the number of care homes in operation across the group, just under 15% increase via home purchases and new builds, to 47 homes in operation. The Group accelerated its capital expenditure and growth programme, increasing bed capacity significantly by over 32%. Two new homes were opened in North Yorkshire and the West Midlands, another purchased and refurbished in Wiltshire, and three leased and operated in North London, Essex and Kent.

PRINCIPAL RISKS AND UNCERTAINTIES

Looking ahead, inflationary pressures and international trade and political uncertainty are dominating the economic outlook. Operationally the challenges remain in attracting the right calibre of staff and retaining them, in a very competitive job market. General inflation is still high compared to Bank of England targets, while an increase in the minimum wage and employers' national insurance contributions have added to the inflationary pressure. Across all areas of the business, there is the heightened threat to cyber security, the IT team continue to prioritise ensuring data and operational systems are protected.

There are ongoing recruitment and retention issues in the care home sector as well as new barriers hurdles in recruitment of overseas staff, the process has become more difficult and challenging. Senior management continue to explore ways to improve staff retention by improving their working environments, recognising their achievements via regular staff awards, and improving communication across the business.

The group strategy is to maintain high ratings from the regulator the Care Quality Commission , while managing increased wage cost pressures driven by the rise in minimum wage and competition for staff from other industry sectors including hospitality and the National Health Service. The company has invested in Central Services and aims to maintain and facilitate excellent levels support for the care homes, while improving efficiency via new IT systems, software, and development of AI where appropriate across the business operation.

SECTION 172(1) STATEMENT

Stakeholder Engagement

The Board at Country Court have a legal responsibility under section 172 of the Companies Act 2006 to ensure that we act in good faith, and in a way that would be most likely to promote the company's success for the benefit of its members. To have regard to the long-term effect of our decisions on the company and its stakeholders. This statement addresses the ways in which we, as a Board performed this responsibility.

How we work

Country Court was founded in 1983 by Roshan Bogha and our current Chairman Abdul Kachra. Their first care home to open was Beech Lodge in Holbeach, Lincolnshire. The care home's reputation soon grew, led by kindness, compassion, and dignity. Soon to follow were a further seven care homes, all opening by 1990, this helped to establish Country Court's group of care homes as one of the most trusted in the region.

With a successful combination of nursing skills, along with a professional, yet homely feel, Country Court's model for care helped to support our continued expansion. Today Country Court is both caring for and employing thousands of people across the UK.

Country Court provides the highest quality of care that you would expect your loved ones to receive, this is combined with modern, comfortable homes created for residents in mind. Country Court remains a Family-run company to this day, our philosophy is very much "Our family caring for yours" which Is at the heart of each of our homes.

Engaging with stakeholders

Our key stakeholders, and the ways in which we engage with them, are as follows:

Our employees

Recruitment and staff retention is a key part to Country Court, as it is to any business. We recognise that our staff are what makes our homes special and perform a vital role, which they did particularly during the pandemic. With this in mind, we are regularly reviewing our employee offering to ensure we can provide the best package possible, and to become a leading employer within the care sector. This includes regularly benchmarking pay, investing in employee benefits and ensuring that all staff have access to training, career progression opportunities and health & well-being support networks. Nearly a quarter of our staff and just under half of our Home Managers have been with us for 5 years or more. In addition, all of our Operational Team Managers have been promoted internally, clearly showing that career progression is available within Country Court.

Our customers

Our residents come first at Country Court, everything we do is with them in mind, we provide the best possible person-centred care for those who live with us. Every resident who lives with us has an individual care plan. This incorporates their life history, medical needs, care requirements and their mental & physical wellbeing. This is updated daily via our electronic system - Nourish. We recognise that each person is different, it is therefore imperative to take a personal approach for each of our residents. Getting to know our residents and their families is of prime importance to us to be able to understand their needs, preferences and wishes. This helps us to take a holistic approach and to deliver the best possible care which benefits our residents both mentally and physically.

Our community

Country Court' was founded as a family-run company and continues this way today. We have established excellent community relationships at our Head Office in Peterborough and throughout our network of homes. Each home plays a key part within their local community by helping to care for those who need it and by establishing strong connections throughout the community. These connections span across the local health care professional network, to schools and to local interest groups. Homes regularly host local events arid fundraisers, as well as reaching out to the vulnerable people in the society through social meet ups or occasions such as 'Community Christmas Lunches'. Many of our homes undertake outreach work to help people in their community who are isolated, particularly including 'Good neighbour' and 'buddy' schemes, as well as raising money for local and national charities across a variety of campaigns.

Our planet

Country Court are committed to disposing waste in a responsible manner and strive to recycle where possible. Due to the nature of our business, Country Court operate under strict regulations for the disposal of medical and clinical waste. We always follow the correct procedures for disposal of these items. We regularly examine our supply chain with a view of cutting down wastage and single use materials. We engage our staff, suppliers, and customers in initiatives to make our business greener.

KEY PERFORMANCE INDICATORS

Country Court uses a number of KPIs to monitor the financial and non-financial performance of the business.

Care-related KPls are strong with 33 care homes being rated as good by CQC, 8 require improvement (4 of which have been recently purchased) and 6 are awaiting inspection. This continues one of the highest levels of compliance of all the care groups within CQC Market Oversight.

The financial key performance indicators are a growth in turnover of 1.55% (2024: 11.16%) , a gross profit margin of 42.54% (2024: 40.56%) and a net profit margin when excluding one-off exceptional items of 20.08% (2024: 17.73%).

GOING CONCERN

Country Court at the year-end was within its headroom for its existing facility.

Management continue to mitigate risks in the sector, via a hedging product to cap the exposure to interest rate rises, ongoing initiatives to reward staff and target staffing shortages, and achieve economies of scale via capital projects and purchases. The business is also prioritising the use of technology to improve systems in human resources, payroll, resident records and billing, as well as financial reporting. The Group continues to work with Local Authorities, and communicate with private customers, to negotiate proportionate fees.

ON BEHALF OF THE BOARD:

A Kachra - Director

22 December 2025

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the management of care homes.

DIVIDENDS

The total distribution of dividends for the year ended 31 March 2025 will be £ 17,338,412 .

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 A Kachra

A Kachra

A Kachra

EMPLOYEES

Employee Involvement

Country Court keeps their employees informed of updates, activities, and changes through a monthly newsletter. The Directors hold regular meetings with the Senior Leadership team who represent their respective departments from across the business. Our Senior Leadership team also hold regular meetings with their staff to gather feedback for discussion. We also have regular staff surveys which has led to the review of performance related pay along with other benefits and rewards

Disabled Employees

Applications for employment from disabled candidates are given full and fair consideration as per our recruitment process. All candidates are assessed based on their aptitude, experience and ability for the role for which they have applied for. Training, career development and promotion opportunities are available to all employees. In the event of employees becoming disabled, the company would provide support and retraining (if necessary) to ensure their employment with the company can continue where possible.

STREAMLINED ENERGY AND CARBON REPORTING

2025

CO2e tonnes

KWh

Combustion of gas, LPG or kerosene

3,949

19,393,869

Consumption of fuel for the purposes of transport

174

644,158

Purchase of electricity for own use

1,735

8,381,199

5,858

28,419,226

The 2019 UK Government GHG Conversion Factors for Company Reporting published by the UK Department for Environment Food & Rural Affairs (DEFRA) are used to convert energy used in the company's operations to emissions of CO2. Carbon emission factors for purchased electricity are calculated according to the 'location-based grid average' method. This reflects the average emissions of the organisations grid where the energy consumption occurs. Data sources include billing from the energy supplier and the organisations internal fuel usage systems.

Carbon emission factors for purchased electricity are calculated according to the 'location-based grid average' method. Data sources include billing from the energy supplier and the organisations internal fuel usage systems. There aren't any current ratios to express the group's annual emissions in relation to a quantifiable factor in association with the group's activities. The group has taken a range of measures to increase the group's energy efficiency. In the last year the following projects have been implemented:

-

New build sites have been constructed to meet the highest energy ratings

-

The use of the latest technology and materials when refurbishing care homes across the group

-

LED lighting has been fitted for both normal and emergency lighting across the group, both internally and externally

-

Movement sensors have been installed to control lighting in areas to reduce the risk of lights being left on unnecessarily

-

Older boiler systems have been replaced with newer and more energy efficient model

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;

-	state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

-	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.

ON BEHALF OF THE BOARD:

A Kachra - Director

22 December 2025

Opinion

We have audited the financial statements of Country Court Care Homes Limited (the 'company') for the year ended 31 March 2025 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, 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 six, 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:

We have identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial experience, knowledge of the sector, a review of regulatory and legal correspondence and through discussions with Directors and other management obtained as part of the work required by auditing standards. We have also discussed with the Directors and other management the policies and procedures relating to compliance with laws and regulations. We communicated laws and regulations throughout the team and remained alert to any indications of non-compliance throughout the audit.

The potential impact of different laws and regulations varies considerably. Firstly, the company is subject to laws and regulations that directly impact the financial statements (for example financial reporting legislation) and we have assessed the extent of compliance with such laws as part of our financial statements audit. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including risk of override of controls) and determined that the principal risks were related to management bias in accounting estimates and judgemental areas of the financial statements, as well as the risk of inappropriate journal entries to increase reported profitability. Audit procedures performed by the engagement team included the identification and testing of material and unusual journal entries and challenging management on key accounting estimates, assumptions and judgements made in the preparation of the financial statements. We carried out detailed substantive tests on accounting estimates, including reviewing the methods used by management to make those estimates, re-performing the calculation, and reviewing the outcome of prior year estimates.

Secondly, the company is subject to other laws and regulations where the consequence for non-compliance could have a material effect on the amounts or disclosures in the financial statements. We identified the following areas as those most likely to have such an effect: Care Quality Commission (CQC) regulations, health and safety regulations and employment law.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Directors and other management and inspection. This inspection included a review of the CQC inspections conducted in the year, and a review of Health and Safety and employment controls. Through these procedures, if we became aware of any non-compliance, we considered the impact on the procedures performed on the related financial statement items.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. The further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. As with any audit, there is a greater risk of non-detection of irregularities as these may involve collusion, intentional omissions of the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

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.

Alistair Main FCA (Senior Statutory Auditor)

for and on behalf of Duncan & Toplis Audit Limited, Statutory Auditor

Enterprise Way

Pinchbeck

Spalding

Lincolnshire

PE11 3YR

22 December 2025

TURNOVER

3

18,891,316

18,603,122

Cost of sales

10,854,772

11,058,170

GROSS PROFIT

8,036,544

7,544,952

Administrative expenses

4,245,427

4,248,932

3,791,117

3,296,020

Other operating income

2,576

2,500

OPERATING PROFIT

5

3,793,693

3,298,520

Interest payable and similar expenses

6

1,725,358

1,704,538

PROFIT BEFORE TAXATION

2,068,335

1,593,982

Tax on profit

7

-

-

PROFIT FOR THE FINANCIAL YEAR

2,068,335

1,593,982

PROFIT FOR THE YEAR

2,068,335

1,593,982

OTHER COMPREHENSIVE INCOME

Property revaluations

1,958,996

1,974,071

Income tax relating to other comprehensive income

(486,169

)

(537,308

)

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

1,472,827

1,436,763

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

3,541,162

3,030,745

FIXED ASSETS

Intangible assets

9

-

-

Tangible assets

10

48,148,523

45,936,040

48,148,523

45,936,040

CURRENT ASSETS

Stocks

11

9,911

84,038

Debtors

12

15,394,113

25,031,124

Cash at bank

1,012,334

211,348

16,416,358

25,326,510

CREDITORS

Amounts falling due within one year

13

10,646,404

3,786,552

NET CURRENT ASSETS

5,769,954

21,539,958

TOTAL ASSETS LESS CURRENT LIABILITIES

53,918,477

67,475,998

CREDITORS

Amounts falling due after more than one year

14

(22,860,701

)

(22,726,151

)

PROVISIONS FOR LIABILITIES

18

(6,598,227

)

(6,493,048

)

NET ASSETS

24,459,549

38,256,799

CAPITAL AND RESERVES

Called up share capital

19

2

2

Revaluation reserve

20

19,682,279

19,324,403

Retained earnings

20

4,777,268

18,932,394

SHAREHOLDERS' FUNDS

24,459,549

38,256,799

The financial statements were approved by the Board of Directors and authorised for issue on 22 December 2025 and were signed on its behalf by:

A Kachra - Director

Called up

share

Retained

Revaluation

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 April 2023

2

17,338,412

17,887,640

35,226,054

Changes in equity

Total comprehensive income

-

1,593,982

1,436,763

3,030,745

Balance at 31 March 2024

2

18,932,394

19,324,403

38,256,799

Changes in equity

Dividends

-

(17,338,412

)

-

(17,338,412

)

Total comprehensive income

-

2,068,335

1,472,827

3,541,162

Transferred to group

-

1,114,951

(1,114,951

)

-

Balance at 31 March 2025

2

4,777,268

19,682,279

24,459,549

1.	STATUTORY INFORMATION

Country Court Care Homes 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 as modified by the revaluation of certain assets.

Financial Reporting Standard 102 - reduced disclosure exemptions

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 requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

•

the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;

•

the requirement of paragraph 33.7.

The company has taken advantage of these exemptions under FRS 102 as the ultimate parent company Kibo Holdings Limited prepares consolidated accounts. A copy of these accounts can be obtained at Companies House.

Critical accounting judgements and estimates

In the application of the Company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experiences 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 estimates 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.

The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below.

(i) Valuation of freehold property

The valuation of freehold property is sensitive to changes in the market and assumptions in relation to the current economic climate. The value of freehold property is reassessed at regular intervals with information gathered from appropriate sources. The valuation included in the statement of financial position is considered at each financial statement date.

(ii) Amortisation of goodwill

The annual amortisation charge for goodwill is sensitive to changes in the estimated useful life of goodwill and ongoing performance within the group. Goodwill values are re-assessed annually for signs of impairment. They are amended when necessary to reflect current estimates, based on known events and conditions at the year end date.

Turnover

Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year. Revenue is recognised in the period in which it is earned and comprises resident fees and other ancillary services.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of Belmont House in year ended 31 March 2013, has been fully amortised in accounts year ended 31 March 2014.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is not charged on freehold property due to the high residual value expected and rolling refurbishment programme. Depreciation on other tangible fixed assets is provided at rates calculated to write off the cost of those assets, less their estimated residual value, over their expected lives on the following bases

Freehold property

Nil

Fixtures and fittings

25% reducing balance and 20% on cost

Motor vehicles

25% reducing balance

The directors consider the values shown in the accounts to fairly reflect the current value of the homes as required by FRS102 Section 17. Homes are shown in the accounts at the latest available valuation carried out by the directors. As per FRS102 Section 17 revaluations will be carried out with sufficient regularity such as to ensure that the asset's carrying amount in the statement of financial position does not materially differ from its fair value at the statement of financial position date.

In accordance with FRS102 Section 17, properties are valued using their existing use value, which is the value as fully equipped operational entities having regard to their trading potential.

Any changes to the existing use value are taken to the revaluation reserve within the statement of other comprehensive income unless they are considered permanent and are below cost when they are taken to the profit and loss account.

Stocks

Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell and after making due allowance for obsolete and slow moving items.

Financial instruments

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Going concern

Country Court at the year-end was within its headroom for its existing facility.

Management continues to react to ongoing challenges in the sector. Interest rate risk has been mitigated through the purchase of a hedging product to cap the exposure to rate rises. Inflation will be managed through improved staffing efficiencies in building via capital projects, and the use of technology to improve systems. The group will also work with Local Authorities, and communicate with private customers, to negotiate proportionate fees.

3.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

4.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

10,056,377

10,188,276

Social security costs

862,477

823,506

Other pension costs

177,448

173,865

11,096,302

11,185,647

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

2025

2024

Management

11

13

Administration

31

35

Nursing staff, care assistants and other

412

439

454

487

2025

2024

£

£

Directors' remuneration

-

-

5.	OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2025

2024

£

£

Hire of plant and machinery

41,543

73,227

Depreciation - owned assets

360,922

352,451

Profit on disposal of fixed assets

(143

)

(3,211

)

Auditors' remuneration - audit

16,476

15,540

Auditors' remuneration - other

6,154

6,115

Operating lease charges

23,404

38,790

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Bank loan interest

1,725,358

1,704,538

7.

TAXATION

Analysis of the tax charge

No liability to UK corporation tax arose for the year ended 31 March 2025 nor for the year ended 31 March 2024.

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:

2025

2024

£

£

Profit before tax

2,068,335

1,593,982

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

517,084

398,496

Effects of:

Expenses not deductible for tax purposes

(156

)

569

Capital allowances in excess of depreciation

(378,179

)

(558,881

)

Group loss relief

(138,749

)

95,720

Losses carried forward

-

64,096

Total tax charge

-

-

Tax effects relating to effects of other comprehensive income

2025

Gross

Tax

Net

£

£

£

Property revaluations

1,958,996

(486,169

)

1,472,827

2024

Gross

Tax

Net

£

£

£

Property revaluations

1,974,071

(537,308

)

1,436,763

8.

DIVIDENDS

2025

2024

£

£

Interim

17,338,412

-

9.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

199,994

Transfer to group undertaking

(199,994

)

At 31 March 2025

-

AMORTISATION

At 1 April 2024

199,994

Transfer to group undertaking

(199,994

)

At 31 March 2025

-

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

10.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Motor

property

fittings

vehicles

Totals

£

£

£

£

COST OR VALUATION

At 1 April 2024

45,012,485

4,794,212

19,915

49,826,612

Additions

2,842,799

319,667

16,800

3,179,266

Revaluations

1,958,996

-

-

1,958,996

Transfer to group undertaking

(2,536,980

)

(752,273

)

-

(3,289,253

)

At 31 March 2025

47,277,300

4,361,606

36,715

51,675,621

DEPRECIATION

At 1 April 2024

-

3,871,699

18,873

3,890,572

Charge for year

-

356,462

4,460

360,922

Transfer to group undertaking

-

(724,396

)

-

(724,396

)

At 31 March 2025

-

3,503,765

23,333

3,527,098

NET BOOK VALUE

At 31 March 2025

47,277,300

857,841

13,382

48,148,523

At 31 March 2024

45,012,485

922,513

1,042

45,936,040