Company registration number 02071750 (England and Wales)
Mediline Supported Living Limited
Annual Report and Financial Statements
For The Year Ended 31 March 2025
MEDILINE SUPPORTED LIVING LIMITED
Mediline Supported Living Limited
COMPANY INFORMATION
Directors
D Irozuru
C P Hartshorne
Company number
02071750
Registered office
Bechers House
Charnock Road
Fazakerley
Liverpool
United Kingdom
L9 6AW
Auditor
Azets Audit Services
Floor 1, Capital House
8 Pittman Court, Pittman Way
Fulwood
Preston
Lancashire
United Kingdom
PR2 9ZG
MEDILINE SUPPORTED LIVING LIMITED
Mediline Supported Living Limited
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3 - 4
Independent auditor's report
5 - 7
Statement of comprehensive income
8
Balance sheet
9
Statement of changes in equity
10
Notes to the financial statements
11 - 21
MEDILINE SUPPORTED LIVING LIMITED
Mediline Supported Living Limited
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2025
- 1 -

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

Review of the business

The principal activity of the company during the period was:

- Supported living for people with learning disabilities in both extra care and supported living settings in addition to peoples own properties.

- Management of registered care homes to support people with learning disabilities

- Outreach and day support services

- Providing access to supported employment

The health and social care sector has continued to operate within a challenging environment during the period under review. Ongoing pressures relating to workforce availability, wage inflation, and funding constraints across the sector have required providers to remain agile and disciplined in their operational approach.

Despite these challenges, Mediline has maintained stable service delivery and contiuned to focus on the provision of high-quality, person-centred support. The company's strategic priorties remain centred on regulatory compliance, staff retention and development, and sustainable growth within its existing services lines.

Quality of care continues to underpin all operational and strategic decision-making, as evidenced by the company's postiive CQC ratings, which provide a strong foundation for future development.

Key performance indicators

The directors regard key financial performance indicators of the company as those that communicate the financial performance and strength of the company as a whole: these being revenue, operating profit, operating margin, and retained earnings.

| 2025 | 2024
| £ | £
Revenue | 17,924,205 | 10,634,656
Operating profit | 2,352,719 | 1,280,594
Operating margin | 13.13% | 12.04%
Equity | 5,653,719 | 3,813,333

The results in the above table are not directly comparable as the company shortened the prior year end from 28 July 2024 to 31 March 2024.

Revenue has increased during the period under review on a like for like basis, reflecting improved utilisation of capacity and stable demand across the company's services. The company has also achieved an inmprovement in operating margins through continued focus on cost control, operational efficiency, and workforce stability.

The directors are satisfied with the overall financial performance for the year and acknowledge the continued commitment and contribution of employees in delivering these results.

Position at the end of the year

The company has a strong net current assets ratio of 4.22 compared to 3.71 in the previous year.

MEDILINE SUPPORTED LIVING LIMITED
Mediline Supported Living Limited
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
Principal risks and uncertainties

Risks within the company are identified and assessed against Medline's strategic aims and objectives at every level within the organisation.

The board oversees strategic risks with the support of the quality compliance committee. The committee is satisfied with the processes for identifying, managing and reporting risks at an operational level.

At the strategic level we have identified several strategic risks faced by the organisation. All activity is reviewed in the context of these risks which sit below and are associated within them.

Maintaining the quality of services

The safety and wellbeing of the people we support may be affected if we don't have adequate systems and processes in place. We ensure that our staff are trained on operational and safeguarding policies and procedures. We have a clear process for fast reporting of any serious incidents.

Maintaining financial sustainability

If we don't generate sufficient net income, we may be unable to operate. Commissioning authorities need to recognise the current impact of inflation on fee levels and transition towards paying fees to facilitate paying support staff the Real Living Wage. We have effective budgeting and forecasting processes in place for this to be monitored.

People and capacity

We need to attract, develop and retain talented staff in a competitive labour market which has been impacted adversely by Brexit and, more recently, the coronavirus pandemic. We regularly review our recruitment processes. We embed our values during appraisal and training.

Governance and strategy

If the right governance structures are not in place, we may be unable to drive our strategy or to improve the lives of people with learning disability. We regularly review our governance structures and performance. We have processes in place to lead strategic change and we have the systems infrastructure in place to measure the impact that we make.

Strategy

The primary area of activity of the company was the provision of care services in residential houses and community facilities. The key drivers for the continued success of the company is the high level of effort from our staff coupled with the continued focus on the provision of high quality care and support services with strong financial control.

These drivers support the delivery of the organisations objective of achieving customer satisfaction and developing future opportunities.

On behalf of the board

D Irozuru
Director
22 December 2025
MEDILINE SUPPORTED LIVING LIMITED
Mediline Supported Living Limited
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -

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

Principal activities

The principal activity of the company continued to be that of the provision of services to the care of persons with learning difficulties.

Results and dividends

The results for the year are set out on page 8.

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

D Irozuru
C P Hartshorne
Financial instruments

The financial risks faced by the company are:

Credit risk

To be commercial the company must allow its customers to trade with credit terms and hence the company is exposed to the associated risks. The company mitigates these risks by a dedicated credit control department monitors the amounts outstanding from existing customers. Exposure to credit risk is considered low as bad debts are minimal.

Liquidity risk

The liquidity risk of the company is considered to be low because the company has a healthy balance sheet position at the period end.

Disabled persons

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 company continues and that the appropriate training is arranged. It is the policy of the company that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.

Employee involvement

The company'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 company's performance.

Statement of directors' responsibilities

The directors are responsible for preparing the annual report 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.

MEDILINE SUPPORTED LIVING LIMITED
Mediline Supported Living Limited
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 4 -

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; and

- 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.

Strategic report

The company has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the company's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report. It has done so in respect of:

- Principal risks and uncertainties of the company

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
D Irozuru
Director
22 December 2025
MEDILINE SUPPORTED LIVING LIMITED
Mediline Supported Living Limited
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF MEDILINE SUPPORTED LIVING LIMITED
- 5 -
Opinion

We have audited the financial statements of Mediline Supported Living Limited (the 'company') for the year ended 31 March 2025 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity and notes to the financial statements, including 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 Auditor's 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 other information comprises the information included in the annual report other than the financial statements and our auditor's 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.

Opinions on other matters prescribed by the Companies Act 2006

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

- the information given in the 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 strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

MEDILINE SUPPORTED LIVING LIMITED
Mediline Supported Living Limited
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF MEDILINE SUPPORTED LIVING LIMITED (CONTINUED)
- 6 -
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 identifie d material misstatements in the strategic report or the directors' r eport.

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, 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 directors' r esponsibilities s tatement, 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 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.

Auditor's 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 auditor's 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 financial statements.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

MEDILINE SUPPORTED LIVING LIMITED
Mediline Supported Living Limited
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF MEDILINE SUPPORTED LIVING LIMITED (CONTINUED)
- 7 -

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

- Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;

- Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the company through enquiry and inspection;

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

- Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias.

Because of 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 of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

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 auditor's 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.

Julie Flintoff BA(Hons) FCA (Senior Statutory Auditor)
For and on behalf of Azets Audit Services, Statutory Auditor
Chartered Accountants
Floor 1, Capital House
8 Pittman Court, Pittman Way
Fulwood
Preston
Lancashire
PR2 9ZG
23 December 2025
MEDILINE SUPPORTED LIVING LIMITED
Mediline Supported Living Limited
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2025
- 8 -
Year
Period
ended
ended
31 March
31 March
2025
2024
Notes
£
£
Turnover
2
17,924,205
10,634,656
Cost of sales
(12,848,175)
(7,448,591)
Gross profit
5,076,030
3,186,065
Administrative expenses
(2,723,311)
(1,908,422)
Other operating income
-
0
2,951
Operating profit
3
2,352,719
1,280,594
Interest payable and similar expenses
5
(35,253)
-
0
Profit before taxation
2,317,466
1,280,594
Tax on profit
6
(477,080)
(203,861)
Profit for the financial year
1,840,386
1,076,733

The profit and loss account has been prepared on the basis that all operations are continuing operations.

MEDILINE SUPPORTED LIVING LIMITED
Mediline Supported Living Limited
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 9 -
2025
2024
Notes
£
£
£
£
Fixed assets
Goodwill
7
6
6
Tangible assets
8
42,259
17,819
42,265
17,825
Current assets
Debtors
9
7,405,875
5,365,782
Cash at bank and in hand
618,281
489
8,024,156
5,366,271
Creditors: amounts falling due within one year
10
(1,902,841)
(1,445,046)
Net current assets
6,121,315
3,921,225
Total assets less current liabilities
6,163,580
3,939,050
Creditors: amounts falling due after more than one year
11
(514,199)
(136,669)
Provisions for liabilities
Deferred tax liability
13
(4,338)
(10,952)
4,338
10,952
Net assets
5,653,719
3,813,333
Capital and reserves
Called up share capital
15
194
194
Share premium account
199,976
199,976
Profit and loss reserves
5,453,549
3,613,163
Total equity
5,653,719
3,813,333

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 22 December 2025 and are signed on its behalf by:
D Irozuru
Director
Company registration number 02071750 (England and Wales)
MEDILINE SUPPORTED LIVING LIMITED
Mediline Supported Living Limited
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
- 10 -
Share capital
Share premium account
Profit and loss reserves
Total
£
£
£
£
Balance at 29 July 2023
194
199,976
2,536,430
2,736,600
Period ended 31 March 2024:
Profit and total comprehensive income
-
-
1,076,733
1,076,733
Balance at 31 March 2024
194
199,976
3,613,163
3,813,333
Year ended 31 March 2025:
Profit and total comprehensive income
-
-
1,840,386
1,840,386
Balance at 31 March 2025
194
199,976
5,453,549
5,653,719
MEDILINE SUPPORTED LIVING LIMITED
Mediline Supported Living Limited
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 11 -
1
Accounting policies
Company information

Mediline Supported Living Limited is a private company limited by shares incorporated in England and Wales. The registered office and principal place of business is Bechers House, Charnock Road, Liverpool, L9 6AW.

1.1
Reporting period

The company has shortened the prior period end from 28 July 2023 to 31 March 2024. The period was shortened to better suit the business. As a result, comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

- Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;

- Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

The financial statements of the company are consolidated in the financial statements of Birch Faraday Capital Limited. These consolidated financial statements are available from its registered office, 239 Kensington High Street, Office 103, London, W8 6SN.

1.3
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4
Turnover

Revenue is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account any discounts.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

MEDILINE SUPPORTED LIVING LIMITED
Mediline Supported Living Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 12 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% Straight Line
Motor vehicles
25% Straight Line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the 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.

MEDILINE SUPPORTED LIVING LIMITED
Mediline Supported Living Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 13 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. 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.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of 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 deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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. Amounts 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.

MEDILINE SUPPORTED LIVING LIMITED
Mediline Supported Living Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 14 -
Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

MEDILINE SUPPORTED LIVING LIMITED
Mediline Supported Living Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 15 -
1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Turnover
2025
2024
£
£
Turnover analysed by class of business
Rendering of services
17,924,205
10,634,656
3
Operating profit
2025
2024
Operating profit for the year is stated after charging:
£
£
Fees payable to the company's auditor for the audit of the company's financial statements
13,860
13,200
Depreciation of owned tangible fixed assets
14,800
5,702
Operating lease charges
209,427
197,658
4
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Directors and management
15
16
Administration
36
36
Support
435
409
Total
486
461

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
13,003,297
7,634,881
Social security costs
1,178,908
670,618
Pension costs
285,481
165,477
14,467,686
8,470,976
MEDILINE SUPPORTED LIVING LIMITED
Mediline Supported Living Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 16 -
5
Interest payable and similar expenses
2025
2024
£
£
Interest on bank overdrafts and loans
7,020
-
Other interest
28,233
-
0
35,253
-
0
MEDILINE SUPPORTED LIVING LIMITED
Mediline Supported Living Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 17 -
6
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
472,705
216,974
Adjustments in respect of prior periods
(2,239)
(2,161)
Total current tax
470,466
214,813
Deferred tax
Origination and reversal of timing differences
6,614
(10,952)
Total tax charge
477,080
203,861

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
2,317,466
1,280,594
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
579,367
320,149
Adjustments in respect of prior years
(2,239)
(2,161)
Group relief
(100,048)
(104,621)
Deferred tax adjustments in respect of prior years
-
0
(9,506)
Taxation charge for the year
477,080
203,861
7
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2024 and 31 March 2025
16
Amortisation and impairment
At 1 April 2024 and 31 March 2025
10
Carrying amount
At 31 March 2025
6
At 31 March 2024
6
MEDILINE SUPPORTED LIVING LIMITED
Mediline Supported Living Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 18 -
8
Tangible fixed assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 April 2024
13,405
25,490
38,895
Additions
39,240
-
0
39,240
At 31 March 2025
52,645
25,490
78,135
Depreciation and impairment
At 1 April 2024
7,271
13,805
21,076
Depreciation charged in the year
8,428
6,372
14,800
At 31 March 2025
15,699
20,177
35,876
Carrying amount
At 31 March 2025
36,946
5,313
42,259
At 31 March 2024
6,134
11,685
17,819
9
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
1,108,363
1,089,358
Amounts owed by group undertakings
6,179,883
4,062,411
Other debtors
-
0
110,521
Prepayments and accrued income
117,629
103,492
7,405,875
5,365,782
10
Creditors: amounts falling due within one year
2025
2024
Notes
£
£
Bank loans
12
183,051
40,000
Trade creditors
35,473
35,380
Corporation tax
702,476
395,841
Other taxation and social security
253,405
293,001
Other creditors
52,305
68,519
Accruals and deferred income
676,131
612,305
1,902,841
1,445,046

The company is registered for value added tax under group registration provisions and is therefore jointly and severally liable for the tax due by the companies registered with it. As at 31 March 2025 net value added tax due by the other companies registered with it amounted to £1,231 (2024: £1,580).

MEDILINE SUPPORTED LIVING LIMITED
Mediline Supported Living Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 19 -
11
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Bank loans
12
514,199
136,669
12
Loans and overdrafts
2025
2024
£
£
Bank loans
697,250
176,669
Payable within one year
183,051
40,000
Payable after one year
514,199
136,669

Close Brothers Limited

The bank loan of £343,750 (2024: £176,669) is secured by a debenture incorporating a fixed and floating charge over all assets of the company.

The bank loan is repayable by monthly instalments over a 5 year period ending December 2027.

Tower Leasing Limited

The bank loan of £116,000 (2024: £Nil) is secured by the government backed Growth Guarantee Scheme.

The bank loan is repayable by monthly instalments over a 5 year period ending December 2029.

Braemar Financing (trading style of Close Brothers Limited)

The bank loan of £237,500 (2024: £Nil) is secured by the government backed Growth Guarantee Scheme.

The bank loan is repayable by monthly instalments over a 5 year period ending October 2029.

13
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
1,441
(5,480)
Retirement benefit obligations
(5,779)
(5,472)
(4,338)
(10,952)
MEDILINE SUPPORTED LIVING LIMITED
Mediline Supported Living Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
13
Deferred taxation
(Continued)
- 20 -
2025
Movements in the year:
£
Asset at 1 April 2024
(10,952)
Charge to profit or loss
6,614
Asset at 31 March 2025
(4,338)

The deferred tax liability set out above is expected to reverse within 12 months and relates to accelerated capital allowances that are expected to mature within the same period.

14
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
285,481
165,477

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund. Included within Other Creditors are contributions totalling £52,305 (2024: £45,388) payable to the fund at the period end.

15
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
194
194
194
194

The company has one class of ordinary shares which carry no right to fixed income.

16
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2025
2024
£
£
Within 1 year
-
0
6,224
MEDILINE SUPPORTED LIVING LIMITED
Mediline Supported Living Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 21 -
17
Related party transactions

During the period the company provided loans to related companies totalling £6,179,883 (2024: £4,062,411). The unsecured loans are interest free and repayable on demand.

During the period the company paid management charges to a related company totalling £580,920 (2024: £366,573).

During the period the company paid rent to a related company totalling £77,792 (2024: £50,491).

18
Ultimate controlling party

The immediate parent company of Mediline Supported Living Limited is Mediline Group Services Limited.

In the directors' opinion the company's ultimate parent company is Birch Faraday Capital Limited, a company incorporated in the UK, by virtue of its 100% ownership of Mediline Group Services Limited. Copies of the accounts for Birch Faraday Captial Limited can be obtained from its registered office address: 239 Kensington High Street, Office 103, London, W8 6SN.

Birch Faraday Capital Limited is the only member of the group to prepare consolidated accounts.

The company is under the ultimate control of Darnell Irozuru, director and majority shareholder of Birch Faraday Capital Limited.

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