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Company registration number: 10819221
Cross Care Services Limited
Financial statements
Information for filing with the registrar
For the Year Ended 30 June 2025
Coveney Nicholls Partnership LLP
Chartered Accountants & Statutory Auditor
The Old Wheel House
31/37 Church Street
Reigate
Surrey
UK
RH2 0AD
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Cross Care Services Limited
Registered number:10819221
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Statement of Financial Position
As at 30 June 2025
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Net current (liabilities)/assets
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Provisions for liabilities
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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 15 December 2025.
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Cross Care Services Limited
Registered number:10819221
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Statement of Financial Position (continued)
As at 30 June 2025
___________________________
Amit Bhundia
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The notes on pages 3 to 16 form part of these financial statements.
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Cross Care Services Limited
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Notes to the Financial Statements
For the Year Ended 30 June 2025
The company is a private company limited by shares, registered in England and wales. The address of the registered office is The Old Wheel House, 31/37 Church Street, Reigate, Surrey, England, RH2 0AD.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
At the year end the Company was in a current liability position of £2.9m, due to the repayment date of the Company's borrowing facility falling within 12 months of the year end. As disclosed in note 15, this was successfully refinanced with a new 5 year term loan in October 2025.
As a result, the Directors are confident that the Company will have sufficient funds to continue to meet its liabilities as they fall due until at least twelve months from the date of these financial statements being signed and therefore have prepared the financial statements on a going concern basis.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company 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 Company 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.
Interest income is recognised in profit or loss using the effective interest method.
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Cross Care Services Limited
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Notes to the Financial Statements
For the Year Ended 30 June 2025
2.Accounting policies (continued)
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.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company 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 Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.
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Current and deferred taxation
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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 reporting date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting 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; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
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 reporting date.
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Cross Care Services Limited
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Notes to the Financial Statements
For the Year Ended 30 June 2025
2.Accounting policies (continued)
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 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 Statement of Comprehensive Income over its useful economic life.
Other intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
Amortisation is provided on the following bases:
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.
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:
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.
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Cross Care Services Limited
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Notes to the Financial Statements
For the Year Ended 30 June 2025
2.Accounting policies (continued)
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Revaluation of tangible fixed assets
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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 reporting 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.
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.
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Cash and cash equivalents
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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.
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.
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Provisions for liabilities
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Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to profit or loss.
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.
Financial instruments are recognised in the Company's Statement of Financial Position when the
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Cross Care Services Limited
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Notes to the Financial Statements
For the Year Ended 30 June 2025
2.Accounting policies (continued)
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Financial instruments (continued)
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Company 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 debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) 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 Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Other financial assets
Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.
Impairment of financial assets
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 profit or loss.
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 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 instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are
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Cross Care Services Limited
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Notes to the Financial Statements
For the Year Ended 30 June 2025
2.Accounting policies (continued)
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Financial instruments (continued)
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initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). 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 creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors 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.
Other financial instruments
Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.
Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.
Derecognition of financial instruments
Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
The Company uses variable to fixed interest rate swaps to manage its exposure to fair value risk on its Loan. These derivatives are measured at fair value at each reporting date.
To the extent the cash flow hedge is effective, movements in fair value are recognised in other comprehensive income and presented in a separate cash flow hedge reserve. Any ineffective portions of those movements are recognised in profit or loss for the year.
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Cross Care Services Limited
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Notes to the Financial Statements
For the Year Ended 30 June 2025
2.Accounting policies (continued)
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.
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Judgments in applying accounting policies and key sources of estimation uncertainty
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The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Significant judgements
The Directors have made no significant judgments in the preparation of these Financial Statements.
Key sources of estimation uncertainty
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:
Revaluation of freehold property
The market value of freehold property included in property, plant and equipment is determined to be the estimated amount for which an asset or liability should exchange on the valuation date between a willing buyer and a willing seller in an arm’s length transaction after proper marketing and where the parties had each acted knowledgeably, prudently and without compulsion. Its market value has been determined on the basis of it being a fully equipped operational entity having regard to trading potential.
Estimation of the fair value of property are subject to significant inherent uncertainties, and the value realised in any future disposal may be materially higher or lower than currently estimated.
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The average monthly number of employees, including directors, during the year was 48 (2024 - 49).
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Cross Care Services Limited
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Notes to the Financial Statements
For the Year Ended 30 June 2025
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Charge for the year on owned assets
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Cross Care Services Limited
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Notes to the Financial Statements
For the Year Ended 30 June 2025
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Charge for the year on owned assets
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The freehold property was revalued by an external valuer at 13 June 2025, which determined a value of £6,500,000 for the property, fixtures and fittings, plant and machinery and goodwill. The valuation was performed by reference to market value as a fully equipped operational entity having regard to trading potential. The directors consider there has been no material change in the valuation since the date of the external valuation.
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If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:
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Cross Care Services Limited
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Notes to the Financial Statements
For the Year Ended 30 June 2025
7.Debtors (continued)
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Prepayments and accrued income
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The deriviative financial asset relates to an interest rate swap used to hedge the interest rate risk arising on the company's bank loan. The valuation at 30 June 2025 was £49,513 (2024: £165,393) based on a mark to market valuation by the counter party. This asset is subject to future interest rate movements.
Other debtors contains a loan to a related party of £375,000, due in more than one year.
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Creditors: Amounts falling due within one year
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Other taxation and social security
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The bank loan is secured by a fixed and floating charge over the assets of the company and a legal charge over the freehold property. It was repaid in full in October 2025 as further disclosed in note 15.
The other loans were due for repayment in January 2026. It was repaid in full in October 2025 as further disclosed in note 15.
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Cross Care Services Limited
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Notes to the Financial Statements
For the Year Ended 30 June 2025
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Creditors: Amounts falling due after more than one year
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The bank loan is secured by a fixed and floating charge over the assets of the company and a legal charge over the freehold property.
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Cross Care Services Limited
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Notes to the Financial Statements
For the Year Ended 30 June 2025
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Analysis of the maturity of loans is given below:
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Amounts falling due within one year
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Amounts falling due 1-2 years
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Cross Care Services Limited
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Notes to the Financial Statements
For the Year Ended 30 June 2025
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Charged to profit or loss
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Charged to other comprehensive income
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The provision for deferred taxation is made up as follows:
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Accelerated capital allowances
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Revaluation of tangible assets
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Fair value adjustment of finacial assets
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The deferred tax liability relating to the revaluation of tangible fixed assets will not reverse until there is a disposal of the property or subsequent downward valuation.
The reversal of the other deferred tax liabilities in the next 12 months is not expected to be material.
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Fair value movements on cash flow hedging instruments
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Reclassification from fair value reserve to profit and loss account
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Tax relating to components of other comprehensive income
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Cross Care Services Limited
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Notes to the Financial Statements
For the Year Ended 30 June 2025
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Related party transactions
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The company incurred expenses during the year on behalf of an entity with common directors and shareholders, in the sum of £90 (2024: £2,788). The balance outstanding owed by the entity at 30 June 2025 was £- (2024: £1,465).
The company has previously provided a loan to an entity with common directors and shareholders, in the sum of £375,000. The total outstanding balance due from the entity at the year end was £375,000 (2024: £375,000). Interest charged on the loan for the year ended 30 June 2025 was £30,859 (2024: £12,764) Interest outstanding as at 30 June 2025 was £7,685 (2024: £nil)
Other debtors contains an interest free loan to a director of £50,000 (2024: £50,000), which was outstanding at the year end.
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Post balance sheet events
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In October 2025 the company was refinanced with a new five year term loan. This was used to repay the bank loans and other loans included in current liabilities at the year end in full.
The auditors' report on the financial statements for the year ended 30 June 2025 was unqualified.
The audit report was signed on 18 December 2025 by John C Mabey (Senior Statutory Auditor) on behalf of Coveney Nicholls Partnership LLP.
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