ACCOUNTS - Final Accounts preparation

Auditors' remuneration

During the year, the group obtained the following services from the company's auditors and their associates:

Registered number: 06605508

CASTLEMEADOW GROUP HOLDINGS LTD

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

CASTLEMEADOW GROUP HOLDINGS LTD

COMPANY INFORMATION

Directors	Dr S Kaushal
	Mrs S Kaushal


Company secretary	Mrs S Kaushal


Registered number	06605508


Registered office	Lincoln House Care Home
	Dereham Road
	Swanton Morley
	Dereham
	Norfolk
	NR20 4LT


Independent auditors	BW Audit Limited
	Chartered Accountants & Statutory Auditors
	Berry & Warren
	54 Thorpe Road
	Norwich
	NR1 1RY

CASTLEMEADOW GROUP HOLDINGS LTD

CONTENTS

	Page
Group Strategic Report	1 - 2
Directors' Report	3 - 4
Independent Auditors' Report	5 - 8
Consolidated Statement of Comprehensive Income	9
Consolidated Balance Sheet	10 - 11
Company Balance Sheet	12 - 13
Consolidated Statement of Changes in Equity	14
Company Statement of Changes in Equity	15
Consolidated Statement of Cash Flows	16 - 17
Consolidated Analysis of Net Debt	18
Notes to the Financial Statements	19 - 40

CASTLEMEADOW GROUP HOLDINGS LTD

GROUP STRATEGIC REPORT

FOR THE YEAR ENDED 31 MARCH 2025

Introduction

The board are pleased to present the group's strategic report for the year ended 31 March 2025.

Business review

The results for the year and financial position of the group are shown in the financial statements.

Castlemeadow Group Holdings Limited is a privately owned and managed group operating care homes. It believes in providing a positive environment for its residents and staff.

As a result of Covid-19, and being in one of the industries hit the hardest, the turnover of the group fell significantly in the years to March 2021 and 2022. However, in the last three years the directors are pleased to report that the turnover has recovered and profitability has been maintained.

The directors remain confident that the group will continue to trade successfully in the years ahead.

Principal risks and uncertainties

The directors believe that principal risks associated with the group would be the provision of substandard care and non-compliance with regulatory requirements. For all of these risks the group has in place policies and procedures and has implemented all possible measures.

The group is also subject to liquidity and interest rate risk. Cashflows are monitored and currently the directors do not consider it necessary to mitigate against the interest rate risk.

Financial key performance indicators

We consider that our key financial performance indicators are those that communicate the financial performance and strengths of the group as a whole, these being turnover, occupancy rate and net profit margin.

Due to the confidential nature of occupancy rates they have not been reproduced in this report.

		2025	2024
		£	£

	Turnover	16,810,936	15,861,218
	Net profit margin	11%	10%

Page 1

CASTLEMEADOW GROUP HOLDINGS LTD

GROUP STRATEGIC REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

Directors' statement of compliance with duty to promote the success of the group

The Board of Directors, in line with their duties under s.172 of the Companies At 2006 must act in accordance with a set of general duties. These duties are detailed in the Companies Act 2006 and include a duty to promote the success of the company.

During the year, the directors consider that they have at all times acted in a way, and have made decisions, that would most likely promote the success of the group and for the benefit of its members as a whole, and in making those decisions have had particular regard to:

∙the likely consequences of any decision in the long-term;

∙the interests of the group's employees;

∙the need to foster the group's business relationships with suppliers, customers and others;

∙the impact of the group's operations on the community and environment;

∙the desirability of the group maintaining a reputation for high standards of business conduct;

∙and the need to act fairly between members of the group.

The Board's engagement with who it regards as its key stakeholder groups is summarised as follows:

Our people: The group's policy is to consult and discuss with employees, through unions, staff councils and at meetings, matters likely to affect employees' interests. Information about matters of concern to employees is given through information bulletins and reports which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the group's performance. There is no employee share scheme at present, but the directors are considering the introduction of such a scheme as a means of further encouraging the involvement of employees in the group's performance.

Our suppliers, customers and others: The group continuously assesses areas for improvement in order that our care homes remain appealing to residents, offering a welcome and homely environment, We believe in developing long-term and strategic relationships with our suppliers.

Our shareholders: We are a family-owned business, and all of our shareholders work in the business.

This report was approved by the board and signed on its behalf.

Dr S Kaushal

Director

Date: 19 December 2025

Page 2

CASTLEMEADOW GROUP HOLDINGS LTD

DIRECTORS' REPORT

FOR THE YEAR ENDED 31 MARCH 2025

The directors present their report and the financial statements for the year ended 31 March 2025.

Directors

The directors who served during the year were:

Dr S Kaushal

Mrs S Kaushal

Results and dividends

The profit for the year, after taxation, amounted to £1,242,281 (2024 - £1,255,963).

Ordinary dividends were paid amounting to £120,000 (2024 - £120,000). The directors do not recommend payment of a further dividend.

Directors' responsibilities statement

The directors are responsible for preparing the Group Strategic Report, the Directors' Report and the consolidated 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 for the group's financial statements and then apply them consistently;

∙make judgments and accounting estimates that are reasonable and prudent;

∙state whether applicable UK 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 group 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 the group and to 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.

Disabled employees

Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the group continues and that the appropriate training is arranged. It is the policy of the group that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.

Page 3

CASTLEMEADOW GROUP HOLDINGS LTD

DIRECTORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

Greenhouse gas emissions, energy consumption and energy efficiency action

The company has not disclosed information in respect of greenhouse gas emissions, energy consumption and energy efficiency action as its energy consumption in the United Kingdom for the year is 40,000kWh or lower.

Matters covered in the Group Strategic Report

Information regarding the use of financial instruments and our s172(1) statement is included in the group strategic report.

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:

∙so far as the director is aware, there is no relevant audit information of which the company and the group's auditors are unaware, and

∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the company and the group's auditors are aware of that information.

This report was approved by the board and signed on its behalf.

Dr S Kaushal

Director

Date: 19 December 2025

Page 4

CASTLEMEADOW GROUP HOLDINGS LTD

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CASTLEMEADOW GROUP HOLDINGS LTD

Opinion

We have audited the financial statements of Castlemeadow Group Holdings Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2025, which comprise the Consolidated Statement of Comprehensive Income, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes, 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's affairs as at 31 March 2025 and of the group's 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 group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 or 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 other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual Report. 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. 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 course of 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.

Page 5

CASTLEMEADOW GROUP HOLDINGS LTD

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CASTLEMEADOW GROUP HOLDINGS LTD (CONTINUED)

Opinion 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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

∙the Group Strategic Report and the Directors' Report 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 Directors' Report.

We have nothing to report in respect of the following matters in relation to which 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 Directors' Responsibilities Statement set out on page 3, 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 is 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.

Page 6

CASTLEMEADOW GROUP HOLDINGS LTD

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CASTLEMEADOW GROUP HOLDINGS LTD (CONTINUED)

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 an Auditors' Report 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 Group financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

The objectives of our audit in respect of fraud are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both the management and those charged with governance of the group.

Due to the field in which the group operates, we identified the areas most likely to have a direct material impact on the financial statements as compliance with UK tax legislation, UK accounting standards and the Companies Act 2006. In addition, we considered the provisions of other laws and regulations which whilst not having a direct impact on the financial statements, are fundamental to the group's ability to operate including health and safety, CQC regulations, employment law, and compliance with various other regulations relevant to the operation of the group.

Our approach to identifying and assessing the risk of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, included the following:

∙Enquiries with management about any known or suspected instances of non-compliance with laws and regulations, accidents in the workplace, potential litigation or claims and fraud;

∙Reviewing legal and professional fees for indicators of litigation;

∙Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;

∙Assessing the risk of material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it might occur, by holding discussions with management and those charged with governance;

∙Challenging assumptions and judgments made by management in their significant accounting estimates;

∙Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of any significant transactions outside the normal course of business.

Page 7

CASTLEMEADOW GROUP HOLDINGS LTD

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CASTLEMEADOW GROUP HOLDINGS LTD (CONTINUED)

Due to the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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 Auditors' Report.

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 an Auditors' Report 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.

Joanne Fox BA FCA (Senior Statutory Auditor)

for and on behalf of

BW Audit Limited

Chartered Accountants

Statutory Auditors

Berry & Warren

54 Thorpe Road

Norwich

NR1 1RY

22 December 2025

Page 8

CASTLEMEADOW GROUP HOLDINGS LTD

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 MARCH 2025

	2025	2024
Note	£	£


Turnover	4	16,810,936	15,861,218
Cost of sales		(11,156,899)	(10,224,545)
Gross profit		5,654,037	5,636,673
Administrative expenses		(3,011,983)	(3,053,996)
Other operating income	5	175,059	162,314
Operating profit		2,817,113	2,744,991
Interest receivable and similar income	9	256,472	30,795
Interest payable and similar expenses	10	(1,187,851)	(1,157,747)
Profit before taxation		1,885,734	1,618,039
Tax on profit	11	(643,453)	(362,076)
Profit for the financial year		1,242,281	1,255,963


Unrealised surplus on revaluation of tangible fixed assets	610,493	-
Other comprehensive income for the year	610,493	-
Total comprehensive income for the year	1,852,774	1,255,963

The notes on pages 19 to 40 form part of these financial statements.

Page 9

CASTLEMEADOW GROUP HOLDINGS LTD

REGISTERED NUMBER: 06605508

CONSOLIDATED BALANCE SHEET

AS AT 31 MARCH 2025

		2025		2024
Note		£		£

Fixed assets
Intangible assets	13		(23,802)		(90,330)
Tangible assets	14		39,920,084		39,621,251
Investment property			560,895		560,895
			40,457,177		40,091,816
Current assets
Debtors: amounts falling due within one year	17	15,183,352		12,463,913
Cash at bank and in hand	18	4,518,922		6,012,975
		19,702,274		18,476,888
Creditors: amounts falling due within one year	19	(8,521,073)		(5,043,290)
Net current assets			11,181,201		13,433,598
Total assets less current liabilities			51,638,378		53,525,414
Creditors: amounts falling due after more than one year	20		(12,507,021)		(16,206,843)
Provisions for liabilities
Deferred taxation	22	(3,615,337)		(3,535,325)
			(3,615,337)		(3,535,325)
Net assets			35,516,020		33,783,246

Capital and reserves
Called up share capital	23	500	500
Revaluation reserve	24	14,734,097	14,355,558
Merger reserve	24	(36)	(36)
Profit and loss account	24	20,781,459	19,427,224
		35,516,020	33,783,246

Page 10

CASTLEMEADOW GROUP HOLDINGS LTD

REGISTERED NUMBER: 06605508

CONSOLIDATED BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2025

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Dr S Kaushal

Director

Date: 19 December 2025

The notes on pages 19 to 40 form part of these financial statements.

Page 11

CASTLEMEADOW GROUP HOLDINGS LTD

REGISTERED NUMBER: 06605508

COMPANY BALANCE SHEET

AS AT 31 MARCH 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	14		139,357		144,914
Investments	15		3,157,395		3,157,395
Investment Property	16		560,895		560,895
			3,857,647		3,863,204
Current assets
Debtors: amounts falling due within one year	17	16,479,181		15,279,554
Cash at bank and in hand	18	3,754,382		4,569,567
		20,233,563		19,849,121
Creditors: amounts falling due within one year	19	(18,490,300)		(18,075,937)
Net current assets			1,743,263		1,773,184
Total assets less current liabilities			5,600,910		5,636,388

Creditors: amounts falling due after more than one year	20		(352,421)		(362,541)
Provisions for liabilities
Deferred taxation	22	(13,336)		(13,336)
			(13,336)		(13,336)
Net assets			5,235,153		5,260,511

Capital and reserves
Called up share capital	23		500		500
Share premium account	24		384,180		384,180
Revaluation reserve	24		40,011		40,011
Profit and loss account brought forward		4,835,820		5,350,499
Profit/(loss) for the year		94,642		(394,679)
Other changes in the profit and loss account		(120,000)		(120,000)
Profit and loss account carried forward			4,810,462		4,835,820
			5,235,153		5,260,511

Page 12

CASTLEMEADOW GROUP HOLDINGS LTD

REGISTERED NUMBER: 06605508

COMPANY BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2025

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Dr S Kaushal

Director

Date: 19 December 2025

The notes on pages 19 to 40 form part of these financial statements.

Page 13

CASTLEMEADOW GROUP HOLDINGS LTD

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MARCH 2025

	Called up share capital	Revaluation reserve	Merger reserve	Profit and loss account	Total equity
	£	£	£	£	£
At 1 April 2023	500	14,587,512	(36)	18,059,307	32,647,283
Comprehensive income for the year
Profit for the year	-	-	-	1,255,963	1,255,963
Dividends: Equity capital	-	-	-	(120,000)	(120,000)
Transfer to/from profit and loss account	-	(231,954)	-	231,954	-

At 1 April 2024	500	14,355,558	(36)	19,427,224	33,783,246
Comprehensive income for the year
Profit for the year	-	-	-	1,242,281	1,242,281
Surplus on revaluation of freehold property	-	610,493	-	-	610,493
Dividends: Equity capital	-	-	-	(120,000)	(120,000)
Transfer to/from profit and loss account	-	(231,954)	-	231,954	-
At 31 March 2025	500	14,734,097	(36)	20,781,459	35,516,020

The notes on pages 19 to 40 form part of these financial statements.

Page 14

CASTLEMEADOW GROUP HOLDINGS LTD

COMPANY STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MARCH 2025

	Called up share capital	Share premium account	Revaluation reserve	Profit and loss account	Total equity
	£	£	£	£	£
At 1 April 2023	500	384,180	40,011	5,350,499	5,775,190
Comprehensive income for the year
Loss for the year	-	-	-	(394,679)	(394,679)
Dividends: Equity capital	-	-	-	(120,000)	(120,000)

At 1 April 2024	500	384,180	40,011	4,835,820	5,260,511
Comprehensive income for the year
Profit for the year	-	-	-	94,642	94,642
Dividends: Equity capital	-	-	-	(120,000)	(120,000)
At 31 March 2025	500	384,180	40,011	4,810,462	5,235,153

The notes on pages 19 to 40 form part of these financial statements.

Page 15

CASTLEMEADOW GROUP HOLDINGS LTD

CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2025

			2025	2024
			£	£

Cash flows from operating activities
Profit for the financial year	1,242,281	1,255,963
Adjustments for:
Amortisation of intangible assets	(66,528)	(66,528)
Depreciation of tangible assets	887,030	884,453
Loss on disposal of tangible assets	-	(6,350)
Interest paid	1,187,851	1,157,747
Interest received	(256,472)	(30,795)
Taxation charge	643,453	362,076
(Increase) in debtors	(2,719,439)	(3,663,096)
Increase in creditors	572,891	289,107
Corporation tax (paid)	(559,502)	(400,000)
Net cash generated from operating activities	931,565	(217,423)

Cash flows from investing activities
Purchase of tangible fixed assets	(575,370)	(679,360)
Sale of investment properties	-	26,550
Interest received	256,472	30,795
Net cash from investing activities	(318,898)	(622,015)

Page 16

CASTLEMEADOW GROUP HOLDINGS LTD

CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

		2025	2024
		£	£


Cash flows from financing activities
New secured loans	-	10,946,477
Repayment of loans	(569,869)	(5,763,409)
Loans due from/(repaid to) directors	(229,000)	545,170
Dividends paid	(120,000)	(120,000)
Interest paid	(1,187,851)	(1,157,747)
Net cash used in financing activities	(2,106,720)	4,450,491
Net (decrease)/increase in cash and cash equivalents	(1,494,053)	3,611,053
Cash and cash equivalents at beginning of year	6,012,975	2,401,922
Cash and cash equivalents at the end of year	4,518,922	6,012,975

Cash and cash equivalents at the end of year comprise:
Cash at bank and in hand	4,518,922	6,012,975
	4,518,922	6,012,975

The notes on pages 19 to 40 form part of these financial statements.

Page 17

CASTLEMEADOW GROUP HOLDINGS LTD

CONSOLIDATED ANALYSIS OF NET DEBT

FOR THE YEAR ENDED 31 MARCH 2025


At 1 April 2024	Cash flows	Other non-cash changes	At 31 March 2025
£	£	£	£

Cash at bank and in hand	6,012,975	(1,494,053)	-	4,518,922
Debt due after 1 year	(16,206,843)	-	3,699,822	(12,507,021)
Debt due within 1 year	(2,120,086)	798,869	(3,699,822)	(5,021,039)
	(12,313,954)	(695,184)	-	(13,009,138)

The notes on pages 19 to 40 form part of these financial statements.

Page 18

CASTLEMEADOW GROUP HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

Castlemeadow Group Holdings Limited ("the company") is a private company limited by shares incorporated in England and Wales. The registered office is Lincoln House Care Home, Dereham Road, Swanton Morley, Dereham, Norfolk NR20 4LT.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires group management to exercise judgment in applying the group's accounting policies (see note 3).

The company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements.

The following principal accounting policies have been applied:

2.2

Basis of consolidation

The consolidated financial statements present the results of the company and its own subsidiaries ("the group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.

The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance Sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases.

2.3

Going concern

The directors have considered the company's and group's position at the time of signing the financial statements, including financial forecasts, and the financial strength of the company and group.

Based on this, the directors consider that the company and group will have adequate resources to continue in operational existence for the foreseeable future, and at least twelve months from the date of signing these financial statements. They have accordingly prepared the financial statements on a going concern basis.

Page 19

CASTLEMEADOW GROUP HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the group and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the group will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.8

Pensions

Defined contribution pension plan

The group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the group pays fixed contributions into a separate entity. Once the contributions have been paid the group has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the group in independently administered funds.

Page 20

CASTLEMEADOW GROUP HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.9

Current and deferred taxation

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

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company and the group operate and generate income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and

∙Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.10

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of the group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Consolidated Statement of Comprehensive Income over its useful economic life, considered to be 5 years.

2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 21

CASTLEMEADOW GROUP HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.11

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property	-	2% on cost
Plant and machinery	-	10% on cost
Motor vehicles	-	20% on cost
Fixtures and fittings	-	15% - 33% on cost
Computer equipment	-	33% on cost
Assets under construction	-	Not depreciated until the asset is brought into use

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.12

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.

Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

2.13

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

2.14

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 22

CASTLEMEADOW GROUP HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.15

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.16

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Consolidated Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the group's cash management.

2.17

Creditors

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

2.18

Financial instruments

The group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the group's Balance Sheet when the group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The group's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date.

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of

Page 23

CASTLEMEADOW GROUP HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.18

Financial instruments (continued)

the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the group after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

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

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

2.19

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 24

CASTLEMEADOW GROUP HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the group’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The judgements, estimates and assumptions which have significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next financial year are addressed below:

Depreciation of tangible fixed assets
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.

Valuation of freehold and investment property
The group commissions independent valuers, on a regular basis, to assess the value of the freehold properties. The directors use these values, updated with their knowledge of other factors, for the basis of their valuation estimation.

Impairment of debtors
The group makes an estimate of the recoverable value of trade and other debtors, taking into consideration factors including the ageing profile, security held and historical experience.

Turnover

The whole of the turnover is attributable to the principal activity of the group.

All turnover arose within the United Kingdom.

5.	Other operating income
		2025	2024
		£	£

Other operating income	59,728	16,563
Net rents receivable	115,331	105,287
Government grants receivable	-	40,464
	175,059	162,314

Page 25

CASTLEMEADOW GROUP HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Fees payable to the company's auditors and their associates for the audit of the consolidated and parent company's financial statements	7,938	7,560
Fees payable to the company's auditors and their associates in respect of:
The auditing of accounts of subsidiaries of the company	60,948	58,080
Taxation compliance services	5,280	5,040
All non-audit services not included above	14,874	14,160

7.	Employees
	Staff costs, including directors' remuneration, were as follows:

Group	Group	Company	Company
2025	2024	2025	2024
£	£	£	£


Wages and salaries	9,594,147	8,885,845	930,907	856,943
Social security costs	622,914	512,999	63,708	65,200
Cost of defined contribution scheme	129,310	117,940	17,379	23,903
	10,346,371	9,516,784	1,011,994	946,046

The average monthly number of employees, including the directors, during the year was as follows:

	Group	Group	Company	Company
	2025	2024	2025	2024
	No.	No.	No.	No.

Care home and office staff	389	356	21	22

Page 26

CASTLEMEADOW GROUP HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

8.	Directors' remuneration
		2025	2024
		£	£

Directors' emoluments	25,128	19,000
	25,128	19,000

The directors are considered to be key management.

9.	Interest receivable
		2025	2024
		£	£

	Other interest receivable	256,472	30,795
		256,472	30,795

10.	Interest payable and similar expenses
		2025	2024
		£	£

	Bank interest payable	1,187,851	1,157,747
		1,187,851	1,157,747

Page 27

CASTLEMEADOW GROUP HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Corporation tax
Current tax on profits for the year	563,441	520,106
	563,441	520,106

Total current tax	563,441	520,106

Deferred tax
Origination and reversal of timing differences	80,012	(158,030)
Total deferred tax	80,012	(158,030)


	Tax on profit	643,453	362,076

Profit on ordinary activities before tax

1,885,734

1,618,039

Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%)	471,434	404,510
Effects of:
Depreciation on assets not qualifying for tax allowances	164,594	182,616
Short-term timing difference leading to an increase (decrease) in taxation	4,316	-
Other timing differences leading to an increase (decrease) in taxation	3,109	(225,050)
Total tax charge for the year	643,453	362,076

Factors that may affect future tax charges

There were no factors that may affect future tax charges.

Page 28

CASTLEMEADOW GROUP HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

12.	Dividends
		2025	2024
		£	£

	Dividends paid	120,000	120,000
		120,000	120,000

13.	Intangible assets
	Group

	Goodwill	Negative goodwill	Total
	£	£	£
Cost
At 1 April 2024	185,865	(332,642)	(146,777)
At 31 March 2025	185,865	(332,642)	(146,777)
Amortisation
At 1 April 2024	185,865	(242,312)	(56,447)
Charge for the year on owned assets	-	(66,528)	(66,528)
At 31 March 2025	185,865	(308,840)	(122,975)
Net book value
At 31 March 2025	-	(23,802)	(23,802)
At 31 March 2024	-	(90,330)	(90,330)

Page 29

CASTLEMEADOW GROUP HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

14.	Tangible fixed assets
	Group

	Freehold property	Plant and machinery	Motor vehicles	Fixtures and fittings	Computer equipment
	£	£	£	£	£
Cost or valuation
At 1 April 2024	36,942,221	103,500	106,058	2,074,553	65,754
Additions	-	60,000	-	344,876	-
Revaluations	250,000	-	-	-	-
At 31 March 2025	37,192,221	163,500	106,058	2,419,429	65,754
Depreciation
At 1 April 2024	1,922,723	10,350	49,235	1,781,225	65,754
Charge for the year on owned assets	724,907	16,350	21,212	124,561	-
On revalued assets	(360,493)	-	-	-	-
At 31 March 2025	2,287,137	26,700	70,447	1,905,786	65,754
Net book value
At 31 March 2025	34,905,084	136,800	35,611	513,643	-
At 31 March 2024	35,019,498	93,150	56,823	293,328	-

Page 30

CASTLEMEADOW GROUP HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

14.Tangible fixed assets (continued)

	Assets under construction	Total
	£	£
Cost or valuation
At 1 April 2024	4,158,452	43,450,538
Additions	170,494	575,370
Revaluations	-	250,000
At 31 March 2025	4,328,946	44,275,908
Depreciation
At 1 April 2024	-	3,829,287
Charge for the year on owned assets	-	887,030
On revalued assets	-	(360,493)
At 31 March 2025	-	4,355,824
Net book value
At 31 March 2025	4,328,946	39,920,084
At 31 March 2024	4,158,452	39,621,251

The freehold property has been included at directors' valuation which is based on professional external valuations carried out in previous years on the basis of fair value.

If the freehold property had not been included at valuation, they would have been included under the historical cost convention with a cost of £18,204,132 (2024 - £18,204,132) and accumulated deprecation of £4,678,508 (2024 - £4,320,807).

Page 31

CASTLEMEADOW GROUP HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

14.Tangible fixed assets (continued)

	Company

	Freehold property	Computer equipment	Total
	£	£	£
Cost or valuation
At 1 April 2024	172,827	25,350	198,177
At 31 March 2025	172,827	25,350	198,177
Depreciation
At 1 April 2024	27,913	25,350	53,263
Charge for the year on owned assets	5,557	-	5,557
At 31 March 2025	33,470	25,350	58,820
Net book value
At 31 March 2025	139,357	-	139,357
At 31 March 2024	144,914	-	144,914

15.	Fixed asset investments

	Company

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 April 2024	3,157,395
	At 31 March 2025	3,157,395

Page 32

CASTLEMEADOW GROUP HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025


Direct subsidiary undertakings
The following were direct subsidiary undertakings of the company:
Name	Registered office	Class of shares	Holding

The Paddocks Care Home Ltd	Lincoln House, Dereham Road, Swanton Morley, Dereham, Norfolk NR20 4LT	Ordinary	100%
Lincoln House Care Home Ltd	Lincoln House Care Home, Dereham Road, Swanton Morley, Dereham,Norfolk NR20 4LT	Ordinary	100%
The Mayfields Care Home Limited	Lincoln House, Dereham Road, Swanton Morley, Dereham, Norfolk NR20 4LT	Ordinary	100%
Wyndham House Care Limited	Lincoln House, Dereham Road, Swanton Morley, Dereham, Norfolk NR20 4LT	Ordinary	100%
Castlemeadow Care Limited	Lincoln House, Dereham Road, Swanton Morley, Dereham, Norfolk NR20 4LT	Ordinary	100%
St Johns House Holdings Ltd	St Johns House, Heigham Road, Norwich, Norfolk NR2 3AU.	Ordinary	100%
Castlemeadow Homes Ltd	Lincoln House Care Home, Dereham Road, Swanton Morley, Dereham,Norfolk NR20 4LT	Ordinary	100%
Kaushal Investment Group Ltd	Lincoln House Care Home, Dereham Road, Swanton Morley, Dereham,Norfolk NR20 4LT	Ordinary	100%
Castlemeadow Group Trading Limited	Lincoln House Care Home, Dereham Road, Swanton Morley, Dereham,Norfolk NR20 4LT	Ordinary	100%

Page 33

CASTLEMEADOW GROUP HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Indirect subsidiary undertaking
The following was an indirect subsidiary undertaking of the company:
Name	Registered office	Class of shares	Holding

St John's House Care Limited

Lincoln House, Dereham Road, Swanton Morley, Dereham, Norfolk NR20 4LT

Ordinary

100%

16.	Investment property
	Group and Company

		Freehold investment property
		£
	Valuation
	At 1 April 2024	560,895
	At 31 March 2025	560,895

The 2025 valuations were made by the directors, on an open market value for existing use basis by reference to market evidence of transaction prices for similar properties.

Page 34

CASTLEMEADOW GROUP HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

17.

Debtors

Group	Group	Company	Company
2025	2024	2025	2024
£	£	£	£


Trade debtors	825,998	760,727	4,522	3,240
Amounts owed by group undertakings	-	-	5,684,886	6,145,130
Other debtors	14,071,640	11,356,253	10,772,128	9,108,247
Prepayments and accrued income	285,714	346,933	17,645	22,937
	15,183,352	12,463,913	16,479,181	15,279,554

18.	Cash and cash equivalents
		Group	Group	Company	Company
		2025	2024	2025	2024
		£	£	£	£

Cash at bank and in hand	4,518,922	6,012,975	3,754,382	4,569,567
	4,518,922	6,012,975	3,754,382	4,569,567

19.	Creditors: Amounts falling due within one year
		Group	Group	Company	Company
		2025	2024	2025	2024
		£	£	£	£

Bank loans	3,678,702	548,749	12,809	16,408
Trade creditors	406,602	422,445	6,760	1,735
Amounts owed to group undertakings	-	-	16,367,107	15,883,223
Corporation tax	281,293	277,354	-	-
Other taxation and social security	140,395	131,242	19,950	23,250
Other creditors	3,117,587	2,835,298	2,014,424	2,057,821
Accruals and deferred income	896,494	828,202	69,250	93,500
	8,521,073	5,043,290	18,490,300	18,075,937

For details of the bank loans, see note 21.

Page 35

CASTLEMEADOW GROUP HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

20.	Creditors: Amounts falling due after more than one year
		Group	Group	Company	Company
		2025	2024	2025	2024
		£	£	£	£

Bank loans	12,507,021	16,206,843	352,421	362,541
	12,507,021	16,206,843	352,421	362,541

The aggregate amount of liabilities repayable wholly or in part more than five years after the balance sheet date is:
	Group	Group	Company	Company
	2025	2024	2025	2024
	£	£	£	£


Repayable by instalments	9,558,187	9,930,428	291,230	292,206
	9,558,187	9,930,428	291,230	292,206

For details of the bank loans, see note 21.

Page 36

CASTLEMEADOW GROUP HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

21.	Loans
	Analysis of the maturity of loans is given below:
		Group	Group	Company	Company
		2025	2024	2025	2024
		£	£	£	£

Amounts falling due within one year
Bank loans	3,678,702	548,749	12,809	16,408
	3,678,702	548,749	12,809	16,408
Amounts falling due 1-2 years
Bank loans	338,221	3,703,561	13,735	16,407
	338,221	3,703,561	13,735	16,407
Amounts falling due 2-5 years
Bank loans	2,610,613	2,572,854	47,456	53,928
	2,610,613	2,572,854	47,456	53,928
Amounts falling due after more than 5 years
Bank loans	9,558,187	9,930,428	291,230	292,206
	9,558,187	9,930,428	291,230	292,206
	16,185,723	16,755,592	365,230	378,949

The bank loans are secured by debentures and charges over the freehold properties of the company and the group. Interest is charged at rates between 2% and 3.5% over base rate.

Page 37

CASTLEMEADOW GROUP HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

22.	Deferred taxation
	Group

		2025
		£

	At beginning of year	3,535,325
	Charged to profit or loss	80,012
	At end of year	3,615,337

Company

		2025
		£

	At beginning of year	13,336
	At end of year	13,336

Group	Group	Company	Company
2025	2024	2025	2024
£	£	£	£

Accelerated capital allowances	(137,746)	(217,758)	-	-
Capital gains	3,753,083	3,753,083	13,336	13,336
	3,615,337	3,535,325	13,336	13,336

The deferred tax set out above is not expected to reverse significantly within the next 12 months.

Page 38

CASTLEMEADOW GROUP HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

23.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

500 (2024 - 500) Ordinary shares of £1.00 each	500	500

24.

Reserves

Revaluation reserve

The revaluation reserve includes all current and prior period revaluations where the fair value of an asset exceeded its original cost.

Profit and loss account

The profit and loss account includes all current and prior period retained profits and losses.

25.	Capital commitments
	At 31 March 2025 the group and company had capital commitments as follows:
		Group	Group
		2025	2024
		£	£

	Contracted for but not provided in these financial statements	88,496	56,700
		88,496	56,700

26.	Pension commitments

The group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £129,310 (2024 - £117,940). Contributions totalling £31,304 (2024 - £23,143) were payable to the fund at the balance sheet date and are included in creditors.

Page 39

CASTLEMEADOW GROUP HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

27.

Related party transactions

The group 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 between wholly owned members of a group.

Group

Included within other debtors is £12,488,275 (2024 - £11,186,428) owed to the group from companies and within other creditors is £1,234,319 (2024 - £888,842) owed from the group to companies controlled by the directors.

Also within other creditors is a directors loan account owed by the group amounting to £1,342,337 (2024 - £1,571,337).

Company

Included within other debtors is £10,246,805 (2024 - £9,105,157) owed from companies and within other creditors is £535,623 (2024 - £462,487) owed to companies controlled by the directors.

Also within other creditors is a directors loan account amounting to £1,295,081 (2024 - £1,524,081).

Page 40