REGISTERED NUMBER: 05963017 (England and Wales)

Group Strategic Report, Report of the Directors and

Audited Consolidated Financial Statements for the Year Ended 31 March 2025

for

Trustcare Management Limited

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

7

Consolidated Statement of Comprehensive Income

10

Consolidated Balance Sheet

11

Company Balance Sheet

12

Consolidated Statement of Changes in Equity

13

Company Statement of Changes in Equity

14

Consolidated Cash Flow Statement

15

Notes to the Consolidated Cash Flow Statement

16

Notes to the Consolidated Financial Statements

17

DIRECTORS:

Mr Z D Chaudhry

Mr H Potgieter

Mr C A Milner

REGISTERED OFFICE:

319B Walton Road

West Molesey

KT8 2QG

REGISTERED NUMBER:

05963017 (England and Wales)

AUDITORS:

Merit Accountants and Tax Advisors Ltd

16 Upper Woburn Place

London

WC1H 0AF

REVIEW OF THE BUSINESS:

Trustcare Management Ltd Group achieved significant financial and operational milestones during the year, including revenue growth and the successful acquisition of a new care home. Despite challenges, the group maintained a strong financial position, reflecting its resilience and effective strategic growth initiatives.

During the period, the group’s turnover increased to £19,166,470 from £13,480,025 in the preceding year, while pre-tax profit was £2,714,808 compared to £306,823.

At 31 March 2025, the group had net assets of £8,305,188 (2024: £6,458,351).

PRINCIPAL RISKS AND UNCERTAINTIES:

The directors recognise that there are a number of risks within the business which may affect the performance of the group. These risks are subject to regular review and where appropriate policies, processes and controls are established to minimise the level of exposure. The group undertakes the following measures to mitigate risks:

The group recognizes inherent risks in the social care sector and actively manages them through a robust risk management strategy. Key areas of focus include clinical quality, health and safety, employment of staff, and compliance with regulations.

Operational risk - The group carries out regular stress testing and monitoring of portfolio, adopting and executing an effective Business Continuity Plan to ensure continuous improvement and growth.

Compliance risk - Regular reviews are conducted to ensure CQC ratings are not only maintained but exceed quality benchmarks. The group enjoys a CQC rating of 'Good' across most of its care homes.

Liquidity risk - This risk is mitigated through carrying out ongoing reviews of the credit facilities and adhering to covenant compliance requirements on such facilities. In addition, the liquidity risk is managed by routine daily monitoring of cash flows.

Human resources - People, teams and talent management is an integral part of the group's business and key to continuing progress. Competition for talent is significant both within the industry and beyond. The group attracts and retains its people through provision of on-going opportunity for career development, training initiatives and continually identifying emerging managers and leaders within the business.

Key Performance Indicators:

In the opinion of the directors the following are Key Performance Indicators whose disclosure is necessary for an understanding of the development, performance, or position of the business:

2025

2024

Turnover

£19,166,470

£13,480,025

Profit before tax

£2,714,808

£306,823

FUTURE PROSPECTS:

Trustcare Management Ltd Group is steadfast in its pursuit of expansion, improvement in care quality, financial stability, and agility in response to changes in regulations. Collectively, the group is well-prepared to seize new opportunities, navigate obstacles, and persist in its dedication to providing exceptional care services.

ON BEHALF OF THE BOARD:

Mr Z D Chaudhry - Director

19 December 2025

Introduction:

Since its inception in 2007, Trustcare Management Ltd group has emerged as a distinguished provider in health and social care, offering specialized services for adults across a variety of care settings, such as nursing homes and facilities for individuals with learning disabilities. Our widespread presence and continuous expansion highlight our unwavering commitment to providing unmatched care and support. Our services cater to a broad range of needs including dementia, mental health issues, and learning disabilities. We prioritize creating a supportive environment that promotes well-being and independence. Our care philosophy is centered around providing holistic, personalized care that empowers our residents and respects their dignity and rights.

Adhering to the rigorous standards set by the Care Quality Commission (CQC), we ensure our services not only meet but exceed safety, efficacy, and responsiveness benchmarks. Our dedication to exceptional care has solidified Trustcare Management's reputation as a trusted leader in the care industry.

Principal Activity:

Trustcare Management Ltd, a leading management investment and holding company based in England and Wales, oversees subsidiary undertakings dedicated to operating care homes and related services. With a strong presence in key regions such as East Sussex, Essex, Peterborough, Suffolk, and Wolverhampton, the group strategically expands its services to meet diverse community needs.

Mission:

Empowering lives through exceptional, compassionate care. We foster resilient bonds in our care family and community, making them integral to our decisions. Our pursuit of excellence transcends traditional care, creating an environment for individuals to flourish and achieve their highest potential.

Philosophy:

The group's philosophy of care aims to provide an outstanding quality of care in a homely environment.

We promote an ethos of respect for all people by treating them with dignity and ensuring that peoples' rights to independence, choice, autonomy, privacy, safety, and security are maintained.

The cornerstone of Trustcare Management Ltd group is in establishing and maintaining an ongoing strong relationship between Residents and/ or service users, relatives, friends, and staff through enhancing empowerment, based upon the creation of a non-institutional regime, which enables individuals to lead a fulfilled life.

This is achieved by supporting people to reach their highest possible potential, physically, socially, emotionally, and spiritually.

Our commitment is to ensure that by working together we can create a rewarding and positive environment for all.

Our Aim

Our aim is to ensure that the principles of good practice and care are incorporated in our daily care provision and that we afford our residents and/ or service users their rights, autonomy, respect, privacy, dignity, choice, independence, fulfilment, and security within an environment where they receive safe, effective, responsive, and compassionate care from the experience of living in a well led service.

Ethos:

As an organisation that provides care and support to some of the most vulnerable groups in our society, we recognise and uphold our legal and ethical responsibilities towards all our stakeholders and conduct our business with pride, honesty, integrity, and transparency.

Strategy:

Our strategy emphasises continuous growth by pursuing new opportunities, enhancing current operations, and strategically acquiring new care homes. This can be achieved through both organic expansion and the purchase of ongoing businesses. At Trustcare Management, our goal is to increase our presence in the market and provide a superior care experience for our residents and their families. Furthermore, we are committed to creating a fulfilling work environment for our employees.

Environmental Sustainability:

'Caring for People and the Planet'

The group is dedicated to delivering high-quality and compassionate care to the people we support and their families. We are aware of the environmental consequences of our work, and we are determined to reduce them as much as possible. We believe that environmental sustainability is essential for the planet, as well as for the health and well-being of the people we support, our team, and community.

Equality and Diversity Statement:

Trustcare Management Ltd Group is steadfast in its commitment to fostering an inclusive culture that celebrates diversity in all its forms. We recognize the inherent dignity of every individual and are dedicated to ensuring equitable treatment for all, irrespective of age, gender, ethnicity, disability, religion or belief, sexual orientation, marital status, or any other characteristic protected by law.

We are particularly mindful of the unique challenges faced by Black, Asian, and Minority Ethnic (BAME) individuals, people living with disabilities, and members of the LGBTQ+ community. Our mission is to create a nurturing environment where the rich tapestry of human diversity is not just accepted but embraced, where every voice is heard, and where every person is empowered to reach their highest potential.

At Trustcare Management, promoting equality and diversity is more than a legal obligation-it is a moral imperative that guides our actions and shapes our future. We are dedicated to this journey and will relentlessly pursue the realization of a truly inclusive society.

Engagement with Employees:

Trustcare Management is dedicated to fostering meaningful engagement with employees on matters that impact them. A variety of approaches are employed to ensure effective communication, including site visits, face-to-face meetings, and virtual interactions.

Employees are actively encouraged to share their views and concerns on relevant issues, with regular staff meetings held to address queries and provide support.

Health and safety remain a top priority, with significant issues reviewed during board meetings to ensure proactive management.

Diversification Into Children Services:

The recent launch of care home, Eden Residential Care Ltd, to the public marks a pivotal expansion into services for children, resonating with our objectives for continuous growth and strategic evolution. This development underscores the group's commitment to broadening its service spectrum and strategic advancement.

Performance Overview:

Over the past year, Trustcare Management Ltd Group has shown remarkable performance, effectively handling the challenges of opening a new care home and incorporating another that is still in its pre-operational phase, while achieving operational stability across our facilities.

Corporate Governance:

As a privately-owned group, Trustcare Management is committed to exemplary corporate governance, continuously enhancing our systems and procedures. Throughout the year, the Board and Senior Management team held regular meetings to discuss business matters including clinical governance, safety protocols, strategic planning, policy development, business plan approvals, significant investments, and strategic decisions.

Quality & Compliance:

Quality, compliance, and governance are pillars of our operation, ensuring we deliver outstanding care. Our commitment to high standards and transparency ensures compliance with regulations and industry best practices, fostering a culture of accountability and continuous improvement. Our Quality and Compliance Team works closely with the management team to maintain a robust Quality Compliance within the group.

Data-Driven Decision Making:

We leverage data-driven decision-making to enhance strategic and operational effectiveness. Quarterly financial reviews and thorough data analysis inform our strategic direction, enabling us to identify improvement areas and make informed decisions for continuous service enhancement. Our approach to data-driven decision-making encompasses financial data, patient outcomes, staff performance, and satisfaction surveys, ensuring comprehensive operational insights.

Going Concern:

The Directors affirm the group's operational stability for the forthcoming 12 months. The going concern basis in our financial statements reflects thorough preparation, including occupancy rates, fee structures, and maintenance plans. We have proactively addressed financial, recruitment, and retention challenges to ensure uninterrupted high-quality care. We are confident in our ability to meet future obligations and extend our heartfelt gratitude to our dedicated staff, recognising their integral role in delivering exceptional care daily.

Conclusion:

Trustcare Management Ltd Group proudly leads the healthcare sector, fueled by a steadfast dedication to excellence and a shared ethos of care. Our unwavering commitment is to offer compassionate, innovative care, consistently going above and beyond to meet the needs of those we serve. At Trustcare Management, our resolve to deliver unparalleled care of the highest quality is unwavering. We continually aim to surpass industry benchmarks and enhance our service offerings. Looking ahead, we are focused on upholding our promise of exceptional care, pursuing strategic investments, and preparing for sustained growth.

DIVIDENDS

Dividend of £162,0000 (2024: £162,000) was paid during the year.

DIRECTORS

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

Mr Z D Chaudhry

Mr H Potgieter

Mr C A Milner

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;

-	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 ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS

The auditors, Merit Accountants and Tax Advisors Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr Z D Chaudhry - Director

19 December 2025

Opinion

We have audited the financial statements of Trustcare Management 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 Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, 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:

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. Our audit procedures were designed to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

We focused on laws and regulations that could give rise to a material misstatement in the financial statements, including, but not limited to, financial reporting legislation, the Companies Act 2006, distributable profits legislation and UK pensions and tax legislation. We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items. Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management regarding correspondence with regulators and tax authorities.

There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it and therefore we have communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indication of fraud or non-compliance with laws and regulations throughout the audit.

We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements

(including the risk of override of controls), and determined that the principal risks were related to management bias in

accounting estimates. We addressed the risk of management override of internal controls through testing journals. We evaluated whether there was evidence of bias by the directors in accounting estimates that represented a risk of material misstatement due to fr

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.

Hussein Bhaiji CTA FCCA (Senior Statutory Auditor)

for and on behalf of Merit Accountants and Tax Advisors Ltd

16 Upper Woburn Place

London

WC1H 0AF

19 December 2025

TURNOVER

3

19,166,470

13,480,025

Administrative expenses

16,264,184

12,957,833

OPERATING PROFIT

5

2,902,286

522,192

Interest receivable and similar income

21,968

22,046

2,924,254

544,238

Interest payable and similar expenses

7

209,446

237,415

PROFIT BEFORE TAXATION

2,714,808

306,823

Tax on profit

8

705,971

163,132

PROFIT FOR THE FINANCIAL YEAR

2,008,837

143,691

OTHER COMPREHENSIVE INCOME

Revaluation of freehold properties

-

95,000

Income tax relating to other comprehensive income

-

-

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

-

95,000

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

2,008,837

238,691

Profit attributable to:

Owners of the parent

2,008,837

143,691

Total comprehensive income attributable to:

Owners of the parent

2,008,837

238,691

FIXED ASSETS

Intangible assets

11

(43,015

)

-

Tangible assets

12

10,112,110

10,147,030

Investments

13

-

-

10,069,095

10,147,030

CURRENT ASSETS

Debtors

14

1,562,163

897,674

Prepayments and accrued income

145,488

145,488

Cash at bank and in hand

2,434,880

1,353,572

4,142,531

2,396,734

CREDITORS

Amounts falling due within one year

15

2,562,794

2,371,189

NET CURRENT ASSETS

1,579,737

25,545

TOTAL ASSETS LESS CURRENT LIABILITIES

11,648,832

10,172,575

CREDITORS

Amounts falling due after more than one year

16

(2,165,218

)

(2,567,623

)

PROVISIONS FOR LIABILITIES

18

(1,178,426

)

(1,146,601

)

NET ASSETS

8,305,188

6,458,351

CAPITAL AND RESERVES

Called up share capital

19

90

90

Revaluation reserve

20

3,179,991

3,179,991

Capital redemption reserve

20

10

10

Retained earnings

20

5,125,097

3,278,260

SHAREHOLDERS' FUNDS

8,305,188

6,458,351

The financial statements were approved by the Board of Directors and authorised for issue on 19 December 2025 and were signed on its behalf by:

Mr Z D Chaudhry - Director

FIXED ASSETS

Intangible assets

11

-

-

Tangible assets

12

78,234

68,222

Investments

13

220,983

3,000

299,217

71,222

CURRENT ASSETS

Debtors

14

6,475,955

5,972,507

Cash at bank and in hand

2,000,227

1,250,908

8,476,182

7,223,415

CREDITORS

Amounts falling due within one year

15

8,409,617

6,751,628

NET CURRENT ASSETS

66,565

471,787

TOTAL ASSETS LESS CURRENT LIABILITIES

365,782

543,009

CREDITORS

Amounts falling due after more than one year

16

(348,213

)

(521,135

)

PROVISIONS FOR LIABILITIES

18

(3,246

)

(1,356

)

NET ASSETS

14,323

20,518

CAPITAL AND RESERVES

Called up share capital

19

90

90

Capital redemption reserve

10

10

Retained earnings

14,223

20,418

SHAREHOLDERS' FUNDS

14,323

20,518

Company's profit for the financial year

155,805

165,024

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 19 December 2025 and were signed on its behalf by:

Mr Z D Chaudhry - Director

Called up

Capital

share

Retained

Revaluation

redemption

Total

capital

earnings

reserve

reserve

equity

£

£

£

£

£

Balance at 1 April 2023

90

2,850,267

3,531,293

10

6,381,660

Changes in equity

Dividends

-

(162,000

)

-

-

(162,000

)

Total comprehensive income

-

589,993

(351,302

)

-

238,691

Balance at 31 March 2024

90

3,278,260

3,179,991

10

6,458,351

Changes in equity

Dividends

-

(162,000

)

-

-

(162,000

)

Total comprehensive income

-

2,008,837

-

-

2,008,837

Balance at 31 March 2025

90

5,125,097

3,179,991

10

8,305,188

Called up

Capital

share

Retained

redemption

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 April 2023

90

17,394

10

17,494

Changes in equity

Dividends

-

(162,000

)

-

(162,000

)

Total comprehensive income

-

165,024

-

165,024

Balance at 31 March 2024

90

20,418

10

20,518

Changes in equity

Dividends

-

(162,000

)

-

(162,000

)

Total comprehensive income

-

155,805

-

155,805

Balance at 31 March 2025

90

14,223

10

14,323

Cash flows from operating activities

Cash generated from operations

1

2,243,071

223,741

Interest paid

(209,446

)

(237,415

)

Tax paid

(446,829

)

(80,275

)

Net cash from operating activities

1,586,796

(93,949

)

Cash flows from investing activities

Purchase of tangible fixed assets

(130,658

)

(108,010

)

Purchase of fixed asset investments

(234,798

)

-

Interest received

21,968

22,046

Net cash from investing activities

(343,488

)

(85,964

)

Cash flows from financing activities

Equity dividends paid

(162,000

)

(162,000

)

Net cash from financing activities

(162,000

)

(162,000

)

Increase/(decrease) in cash and cash equivalents

1,081,308

(341,913

)

Cash and cash equivalents at beginning of year

2

1,353,572

1,695,485

Cash and cash equivalents at end of year

2

2,434,880

1,353,572

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

31.3.25

31.3.24

£

£

Profit before taxation

2,714,808

306,823

Depreciation charges

167,701

170,839

Finance costs

209,446

237,415

Finance income

(21,968

)

(22,046

)

3,069,987

693,031

Increase in trade and other debtors

(366,135

)

(332,300

)

Decrease in trade and other creditors

(460,781

)

(136,990

)

Cash generated from operations

2,243,071

223,741

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2025

31.3.25

1.4.24

£

£

Cash and cash equivalents

2,434,880

1,353,572

Year ended 31 March 2024

31.3.24

1.4.23

£

£

Cash and cash equivalents

1,353,572

1,695,485

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

1,353,572

1,081,308

2,434,880

1,353,572

1,081,308

2,434,880

Debt

Debts falling due within 1 year

(264,717

)

(15,287

)

(280,004

)

(264,717

)

(15,287

)

(280,004

)

Total

1,088,855

1,066,021

2,154,876

1.	STATUTORY INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 319b Walton Road, West Molesey, Surrey, KT8 2QG.

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 financial statements are presented in Sterling (£), which is the functional currency of the entity.

The group financial statements consolidate the financial statements of Trustcare Management Limited and all its subsidiary undertakings drawn up to 31 March each year.

Related party exemption

The company 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.

Significant judgements and estimates

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. Actual outcome may differ.

The properties are valued with reference to previous professional valuations carried out by chartered surveyors on the basis of the EBITDA that the properties can potentially generate being operated as care homes.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents net invoiced sales of services.

Tangible fixed assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognized in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property

Revalued at year end, thus not depreciated.

Short leasehold

35 years straight line

Plant and machinery

20% - 25% reducing balance

Fixtures and fittings

20% - 25% reducing balance

Motor vehicles

25% reducing balance

Computer equipment

25% reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

The directors have formed a judgement, at the time of approving the financial statements, that the group has adequate resources to enable it to continue in operational existence for the foreseeable future. As such, the financial statements have been prepared on a going concern basis.