REGISTERED NUMBER: 02578316 (England and Wales)

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

LAUNCHRANDOM LIMITED

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Consolidated Statement of Comprehensive Income

10

Consolidated Statement of Financial Position

11

Company Statement of Financial Position

12

Consolidated Statement of Changes in Equity

13

Company Statement of Changes in Equity

14

Consolidated Statement of Cash Flows

15

Notes to the Consolidated Statement of Cash Flows

16

Notes to the Consolidated Financial Statements

17

DIRECTORS:

K Lowe

K J Cramant

REGISTERED OFFICE:

Unit 6

Beecham Court

Pemberton

Wigan

Lancashire

WN3 6PR

REGISTERED NUMBER:

02578316 (England and Wales)

AUDITORS:

Fairhurst Audit Services Ltd

Statutory Auditor

Chartered Accountants

Douglas Bank House

Wigan Lane

Wigan

Lancashire

WN1 2TB

BANKERS:

National Westminster Bank

277 Station Road

Bamber Bridge

Preston

Lancashire

PR5 6LE

The directors present their strategic report of the company and the group for the year ended 31 March 2025.

The principal activities of the group during the year under review are the operation of residential and nursing care homes and to maintain and develop sites being operated or intending to be operated as care homes within the group.

REVIEW OF BUSINESS

The main trade within the group is the operation of care homes in Wigan, Preston and Bolton.

In total, our homes can provide accommodation for up to 321 people in purpose built facilities which offer residents, their visitors and staff attractive and safe environments in which to live, visit and work

The group is proud of the valuable contribution of all staff team members whose commitment to supporting our residents has been consistently impressive despite the many challenges faced by the sector in recent years.

GOING CONCERN

The directors have reviewed the management accounts to date and the cash requirements for a period of 12 months from the date of approval of these financial statements, which indicate that, taking account of any possible reduction in occupation, the group will have sufficient funds to continue trading and to meet its liabilities as they fall due during that period. They therefore believe that it remains appropriate to prepare the financial statements on a going concern basis.

PRINCIPAL RISKS AND UNCERTAINTIES

The directors consider the key risks and uncertainties that the group faces comes from a variety of directions:

Financial risk

The group's credit risk is low, being mainly attributable to trade debtors. Privately-funded residents pay a deposit on commencement and all credit risk, both publicly and privately-funded, is managed by monitoring payments against contractual agreements. The group monitors cash flow as part of its day to day control procedures.

Operational risk

The UK care home employment market remains competitive and the group continually faces the challenge of recruitment and retention of quality team members. The group has mitigated this by paying all its care home staff above the National Living Wage and also invests in team inductions and training.

Regulatory risk

The group operates in a regulatory environment.

The Care Quality Commission has inspection models for residential care homes under five key lines of enquiry for every provider or service: is it safe, is it caring, is it responsive, is it effective and is it well-led.

Each question is rated one of inadequate, requires improvement, good or outstanding and provides an overall rating for the home. A poor rating may lead to a reduced level of occupational demand, a home being placed on embargo or, in extremis, a home being closed.

The directors are pleased to report that each site is visited on a regular basis and each has received an overall rating of good.

Key performance indicators

In the opinion of the directors, the key performance indicators of the group include gross profit margin and occupancy levels of the care homes, which are closely monitored. The occupancy levels have remained in line with the directors expectations.

SECTION 172(1) STATEMENT

The Directors are fully aware of their responsibilities to promote the success of the group and company in accordance with S172 of the Companies Act 2006. To ensure the group and the company complies, the board regularly reflects on how the group engages with its stakeholders and reviews opportunities for enhancement in the future.

The board and the senior management team regularly reviews our principal stakeholders and how we engage with them. All stakeholders are key to ensuring that the groups residents receive the best care and value for money. The stakeholder voice is heard through information provided by the management team and also by direct engagement with stakeholders themselves. Such stakeholders include employees, residents, local authorities, suppliers and the wider community in which the group operates. Regular resident meetings are recorded and help steer the strategic direction of each home. Employee and resident engagement has been, and will continue to be, an important consideration in decision making.

The board continues to work responsibly with our suppliers. The importance of supplier relationships is also recognised, as evidenced by paying suppliers to agreed terms.

Engagement with suppliers, customer and others

Matters relating to the group's engagement with suppliers, customers and others is included in the S172 statement above.

Disabled employee policy

The group's policy is to recruit disabled workers for the vacancies that they are able to fulfill. All necessary assistance with initial training is provided.

COVID-19

From early March 2020, the group adopted a pro-active stance to mitigate the risks presented by Covid-19.

Although the majority of the procedures put in place have now been relaxed, Covid-19 remains an on-going challenge for the group and the whole sector. We consider the group well placed to manage such challenges and to continue to provide support, care and fulfilment to all our residents, as well as providing safe work environments for our staff.

FUTURE DEVELOPMENTS

The directors anticipate the business environment will continue to be competitive but are confident the services provided by the group are set up to meet the needs of its customers. Changes and refurbishments will be made to service demand.

FINANCIAL INSTRUMENTS

The group has a normal level of exposure to price, credit, liquidity, and cash flow risks arising from trading activities which are conducted in the local market place.

ON BEHALF OF THE BOARD:

K Lowe - Director

18 December 2025

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

DIVIDENDS

No interim dividend was paid during the year. The directors recommend a final dividend of £60000 per share.

The total distribution of dividends for the year ended 31 March 2025 will be £ 3,000,000 .

DIRECTORS

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

K Lowe

K J Cramant

OPERATION OF THE BUSINESS

The directors primary concern is to continue to strive to offer the best care and experience to the group's residents, rewarding and fulfilled careers to our staff, and a supportive environment to the families and friends of our residents.

In this context, the focus remains on ensuring the "Cuerden Care" ethos and culture is maintained across all homes, whilst ensuring that a robust operational performance both in terms of care service and occupancy is sustained.

GOING CONCERN

The directors continue to monitor the cash flow and reserves of the group to ensure that it remains financially solvent and viable.

The directors therefore believe that the group has adequate resources to remain in operation for a period in excess of 12 months from the date of signing this report and that it is appropriate to adopt the going concern basis for the preparation of these financial statements.

STREAMLINED ENERGY AND CARBON REPORTING

As a large group, under the Companies (Directors' Report) and Limited Liability Partnerships (Energy and Carbon Report) Regulations 2018, we are required to prepare a Streamlined Energy Carbon Reporting Report. This report contains details of the Group's annual energy usage (in kWh) and the relevant greenhouse gas emissions (in tonnes of carbon dioxide equivalent (CO2e)).

2024/25

2024/25

2023/24

2023/24

Energy usage

Greenhouse Gas

Energy usage

Greenhouse Gas

in kWh

Emissions in CO2e

in kWh

Emissions in CO2e

Electricity & Gas

2,091,248

433,014

2,286,251

473,344

Transport

16,743

4,228

15,778

3,984

Total

2,107,991

437,242

2,302,029

477,328

The conversions factors used in the above table are taken from the UK Government GHG Conversion Factors for Company Reporting.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and 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 and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

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

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS

The auditors, Fairhurst Audit Services Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

K Lowe - Director

18 December 2025

Opinion

We have audited the financial statements of Launchrandom Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2025 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Statement of Financial Position, Company Statement of Financial Position, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Statement of Cash Flows and Notes to the Consolidated Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the group's and of the parent company 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 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 group's and 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 directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

-	the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the 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 Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept 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 Statement of Directors' Responsibilities set out on page five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the 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.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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

Irregularities are instances of non-compliance with laws and regulations. The objectives of our audit are to obtain sufficient appropriate audit evidence regarding compliance with laws and regulations that have a direct effect in the determination of material amounts and disclosures in the financial statements, to perform audit procedures to help identify instances of non-compliance with other laws and regulations that may have a material effect on the financial statements, and to respond appropriately to identified or suspected non-compliance with laws and regulations identified during the audit.

In relation to fraud, the objectives of our audit are to identify and assess the risk of material misstatements 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 and to respond appropriately to fraud or suspected fraud identified during the audit.

However, it is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.

In identifying and addressing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

-

The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

-

We obtained an understanding of laws and regulations that affect the group, focusing on those that had a direct effect on the financial statements or that had a fundamental effect on its operations. As a result of these procedures we consider that the most significant laws and regulations that have a direct impact on the financial statements are Health & Safety regulations, FRS 102 and the Companies Act 2006.

-

We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management, reviewing regulatory reports and inspecting legal correspondence.

In assessing the susceptibility of the company's financial statements to material misstatement, including obtaining and understanding of how fraud might occur;

-

We gained an understanding of the controls that management have in place to prevent and detect fraud. We enquired of management about any instances of fraud that had taken place during the year

To address the risk of fraud through management bias and override of controls;

-

We performed analytical procedures to identify any unusual or unexpected relationships;

-

We tested journal entries to identify unusual transactions; and

-

We assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias.

Due to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing fraud or non-compliance with laws and regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Jane Dennis BA(Hons) FCA (Senior Statutory Auditor)

for and on behalf of Fairhurst Audit Services Ltd

Statutory Auditor

Chartered Accountants

Douglas Bank House

Wigan Lane

Wigan

Lancashire

WN1 2TB

18 December 2025

TURNOVER

30,787,225

31,417,326

Cost of sales

15,512,504

17,308,019

GROSS PROFIT

15,274,721

14,109,307

Administrative expenses

3,056,080

3,067,901

12,218,641

11,041,406

Other operating income

20,867

34,700

OPERATING PROFIT

6

12,239,508

11,076,106

Income from fixed asset investments

96,553

-

Interest receivable and similar income

371,453

284,789

468,006

284,789

12,707,514

11,360,895

Interest payable and similar expenses

7

80,353

16,309

PROFIT BEFORE TAXATION

12,627,161

11,344,586

Tax on profit

8

3,190,851

2,862,786

PROFIT FOR THE FINANCIAL YEAR

9,436,310

8,481,800

OTHER COMPREHENSIVE INCOME

Increase in value of investments

432,528

1,165,310

Income tax relating to other comprehensive income

-

-

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

432,528

1,165,310

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

9,868,838

9,647,110

Profit attributable to:

Owners of the parent

9,436,310

8,481,800

Total comprehensive income attributable to:

Owners of the parent

9,868,838

9,647,110

FIXED ASSETS

Tangible assets

11

4,603,353

4,819,060

Investments

12

16,462,585

10,263,624

21,065,938

15,082,684

CURRENT ASSETS

Stocks

13

3,375,017

3,363,002

Debtors

14

3,464,003

3,215,135

Cash at bank and in hand

16,371,432

15,892,821

23,210,452

22,470,958

CREDITORS

Amounts falling due within one year

15

3,821,158

3,950,730

NET CURRENT ASSETS

19,389,294

18,520,228

TOTAL ASSETS LESS CURRENT LIABILITIES

40,455,232

33,602,912

PROVISIONS FOR LIABILITIES

17

167,511

184,029

NET ASSETS

40,287,721

33,418,883

CAPITAL AND RESERVES

Called up share capital

18

50

50

Retained earnings

19

40,287,671

33,418,833

SHAREHOLDERS' FUNDS

40,287,721

33,418,883

The financial statements were approved by the Board of Directors and authorised for issue on 18 December 2025 and were signed on its behalf by:

K Lowe - Director

FIXED ASSETS

Tangible assets

11

-

-

Investments

12

5

5

5

5

CURRENT ASSETS

Debtors

14

112,387

112,387

Cash at bank

1,751

1,751

114,138

114,138

NET CURRENT ASSETS

114,138

114,138

TOTAL ASSETS LESS CURRENT LIABILITIES

114,143

114,143

CAPITAL AND RESERVES

Called up share capital

18

50

50

Retained earnings

19

114,093

114,093

SHAREHOLDERS' FUNDS

114,143

114,143

Company's profit for the financial year

3,000,000

3,000,000

The financial statements were approved by the Board of Directors and authorised for issue on 18 December 2025 and were signed on its behalf by:

K Lowe - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 April 2023

50

26,771,723

26,771,773

Changes in equity

Dividends

-

(3,000,000

)

(3,000,000

)

Total comprehensive income

-

9,647,110

9,647,110

Balance at 31 March 2024

50

33,418,833

33,418,883

Changes in equity

Dividends

-

(3,000,000

)

(3,000,000

)

Total comprehensive income

-

9,868,838

9,868,838

Balance at 31 March 2025

50

40,287,671

40,287,721

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 April 2023

50

114,093

114,143

Changes in equity

Dividends

-

(3,000,000

)

(3,000,000

)

Total comprehensive income

-

3,000,000

3,000,000

Balance at 31 March 2024

50

114,093

114,143

Changes in equity

Dividends

-

(3,000,000

)

(3,000,000

)

Total comprehensive income

-

3,000,000

3,000,000

Balance at 31 March 2025

50

114,093

114,143

Cash flows from operating activities

Cash generated from operations

1

11,877,165

11,465,038

Interest paid

(80,353

)

(16,309

)

Tax paid

(2,767,937

)

(1,822,794

)

Net cash from operating activities

9,028,875

9,625,935

Cash flows from investing activities

Purchase of tangible fixed assets

(63,212

)

(1,593,633

)

Purchase of fixed asset investments

(5,801,880

)

(3,332,000

)

Sale of tangible fixed assets

500

-

Sale of fixed asset investments

35,091

15,874

Interest received

371,453

284,789

Dividends received

96,553

-

Net cash from investing activities

(5,361,495

)

(4,624,970

)

Cash flows from financing activities

Amount introduced by directors

3,001,766

-

Amount withdrawn by directors

(3,190,535

)

(620,488

)

Equity dividends paid

(3,000,000

)

(3,000,000

)

Net cash from financing activities

(3,188,769

)

(3,620,488

)

Increase in cash and cash equivalents

478,611

1,380,477

Cash and cash equivalents at beginning of year

2

15,892,821

14,512,344

Cash and cash equivalents at end of year

2

16,371,432

15,892,821

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2025

2024

£

£

Profit before taxation

12,627,161

11,344,586

Depreciation charges

276,345

151,748

Loss on disposal of fixed assets

2,073

-

Revaluation of investment

356

-

Finance costs

80,353

16,309

Finance income

(468,006

)

(284,789

)

12,518,282

11,227,854

(Increase)/decrease in stocks

(12,015

)

929,041

Increase in trade and other debtors

(250,634

)

(667,846

)

Decrease in trade and other creditors

(378,468

)

(24,011

)

Cash generated from operations

11,877,165

11,465,038

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31 March 2025

31/3/25

1/4/24

£

£

Cash and cash equivalents

16,371,432

15,892,821

Year ended 31 March 2024

31/3/24

1/4/23

£

£

Cash and cash equivalents

15,892,821

14,512,344

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1/4/24

Cash flow

At 31/3/25

£

£

£

Net cash

Cash at bank and in hand

15,892,821

478,611

16,371,432

15,892,821

478,611

16,371,432

Total

15,892,821

478,611

16,371,432

1.	STATUTORY INFORMATION

Launchrandom Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The parent company is included in the consolidated financial statements and it is considered to be a qualifying entity under FRS102 paragraphs 1.8 to 1.12. On that basis it has taken advantage of the exemption not to present a separate parent company cash flow statement with related notes.

Going concern

The directors continue to monitor the cash flow and reserves of the group to ensure that it remains financially solvent and viable.

The directors therefore believe that the group has adequate resources to remain in operation for a period in excess of 12 months from the date of signing this report and that it is appropriate to adopt the going concern basis for the preparation of these financial statements.

Basis of consolidation

The company is the parent company for a large sized group. Under the provisions of the Companies Act 2006 it is required to prepare consolidated accounts. These accounts incorporate the consolidated accounts of the company and its subsidiaries, Cuerden Estates Ltd and Cuerden Developments Ltd

Related party exemption

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 with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Revenue

Revenue is the total amount receivable by the group for residents fees and other services, excluding value added tax, for the services provided in the year.

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.

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 and 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 as 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.

Tangible fixed assets

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

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

Freehold property

2% on cost

Fixtures and fittings

15% on cost

Computer equipment

straight line over 3 years

Stocks

Work in progress is included at cost less any losses foreseen in completing and disposing of the development, less any amounts received or receivable as progress payments. For long term contracts, work in progress includes an element of attributable profit, where it is considered that the outcome of the contract can be assessed with reasonable certainty before its conclusion.