Bridge House (Elmwood) Limited

Registered number

07499308

Report and Financial Statements

29 March 2025

Bridge House (Elmwood) Limited
Report and accounts
Contents




Page

Company information	1
Directors' report	2
Strategic report	4
Independent auditor's report	6
Income statement	9
Statement of comprehensive income	10
Statement of financial position	11
Statement of changes in equity	12
Notes to the financial statements	13

Bridge House (Elmwood) Limited

Company Information

Directors

Mr D Wilson

Mr J Fisher

Auditors

Bell Anderson Limited

264-266 Durham Road

Gateshead

Tyne & Wear

NE8 4JR

Registered office

Henson House

Ponteland Road

Newcastle upon Tyne

Tyne & Wear

NE5 3DF

Registered number

07499308

Bridge House (Elmwood) Limited
Registered number:		07499308
Directors' Report

The directors present their report and financial statements for the year ended 29 March 2025.

Principal activities
The company's principal activity during the year continued to be the operation of CQC Registered Residential Care Homes.

Future developments
The directors believe that the continuous implementation of previously agreed upon strategic decisions will result in continued profitability in future periods.

Dividends
The directors do not recommend payment of a final dividend.

Directors
The following persons served as directors during the year:

	Mr D Wilson
	Mr J Fisher

Directors' responsibilities

The directors are responsible for preparing the report and 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 (Financial Reporting Standard 102 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. In preparing these financial statements, the directors are required to:
●	select suitable accounting policies and then apply them consistently;
●	make judgements and estimates that are reasonable and prudent;
●	state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
●	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the 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.


Disclosure of information to auditors

Each person who was a director at the time this report was approved confirms that:
●	so far as he is aware, there is no relevant audit information of which the company's auditor is unaware; and
●	he 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 company's auditor is aware of that information.



This report was approved by the board on 23 December 2025 and signed on its behalf.



J Fisher
Director

Bridge House (Elmwood) Limited
Strategic Report



Review of business
Key financial and other indicators between this financial year and last year are as follows:
	2023	2022

Turnover	3,976,229	3,230,344
Gross profit	1,523,845	965,386
Operating profit/(loss)	937,516	581,556
Shareholder's funds	5,353,056	(1,869,796)

The directors are pleased to report that strategic decisions made in previous periods have resulted in a significant improvement in the operating profit of the company and are satisfied with the results. The improved results and occupancy levels have been reflected in the improved valuation of the care home which has been incorporated in the accounts following the independent valuation received by the directors. The directors believe that this continuous implementation will result in continued profitability in future periods.

Principal risks and uncertainties
As with any business, the company faces a variety of risks and uncertainties in the normal course of its activities, but it aims to minimise any possible adverse effects on operations through the effective implementation of risk management procedures. These procedures seek to identify any potential risk to the company's business activities and on an on-going basis monitor such risk and the possible impact on the company's well-being. The principal risks and uncertainties that the company faces and which management believes could have a material and adverse impact on operations include the following:
Market risks
The market in which the company operates continues to be highly competitive. Employee costs and operational costs have in some instances significantly increased in the year. Furthermore, availability of staff impact on profitability and efficiencies. However the company is well placed to mitigate against these risks with occupancy remaining satisfactory. The directors continue to concentrate on occupancy levels to increase fees and drive the business forward. The directors are satisfied with the results in the period. To mitigate regulatory risk, the company has maintained a programme of internal audit to ensure compliance with internal quality reports. Internal inspection results are shared with team members to ensure constant review and identification of improvements.



Bridge House (Elmwood) Limited
Strategic Report


Financial risks
Financial risks include instability due to pressure on cash reserves which are being mitigated by regular review of forecasts and strict cost controls.

Interest rate risks
The company has agreed facilities with the bank for working capital which carry variable interest 'rates at a fixed margin above prime.

Liquidity risks
The company reduces its liquidity risk by virtue of the availability of its banking facility.



This report was approved by the board on 23 December 2025 and signed on its behalf.



J Fisher
Director

Bridge House (Elmwood) Limited
Independent auditor's report
to the members of Bridge House (Elmwood) Limited

Opinion

We have audited the financial statements of Bridge House (Elmwood) Limited (the 'company') for the year ended 29 March 2025 which comprise the Income Statement, the Statement of Comprehensive Income, the Statement of Financial Position, 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 the 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 29 March 2025 and of its profit for the year then ended;
●	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
●	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 the 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.

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 identified material misstatements in the strategic report or the directors’ report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
●	adequate accounting records have not been kept, 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’ responsibilities statement, 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The 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 through discussions with the directors and other management (as required by auditing standards) and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. We designed audit procedures 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 focussed on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management. Owing 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. As a consequence of these 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. In common with all audits under ISA's (UK), we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

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

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an 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.


Geoffrey Little FCA,CTA
(Senior Statutory Auditor)		264-266 Durham Road
for and on behalf of		Gateshead
Bell Anderson Limited
Statutory Auditor		Tyne & Wear
23 December 2025		NE8 4JR

Bridge House (Elmwood) Limited
Income Statement
for the year ended 29 March 2025


Notes		2025		2024
£			£

Turnover	3	3,976,229		3,230,344

Cost of sales		(2,452,384)		(2,264,958)

Gross profit		1,523,845		965,386

Administrative expenses		(586,336)		(388,001)
Other operating income		7		4,171

Operating profit	4	937,516		581,556

Interest payable	6	(309,330)		(307,366)

Profit on ordinary activities before taxation		628,186		274,190

Tax on profit on ordinary activities	7	(115,073)		(71,548)

Profit for the financial year		513,113		202,642

Bridge House (Elmwood) Limited
Statement of Comprehensive Income
for the year ended 29 March 2025


Notes		2025		2024
£			£

Profit for the financial year		513,113		202,642

Other comprehensive income
Gain on revaluation of land and buildings	8	8,946,318		-
Deferred taxation arising on the revaluation of land and buildings	13	(2,236,579)		-

Total comprehensive income for the year		7,222,852		202,642

Bridge House (Elmwood) Limited
Statement of Financial Position
as at 29 March 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	8		15,154,112			6,323,658

Current assets
Debtors	9	122,694			115,585
Cash at bank and in hand		268,767			212,501
		391,461			328,086

Creditors: amounts falling due within one year	10	(7,489,068)			(4,483,649)

Net current liabilities			(7,097,607)			(4,155,563)

Total assets less current liabilities			8,056,505			2,168,095

Creditors: amounts falling due after more than one year	11		-			(3,686,094)

Provisions for liabilities
Deferred taxation	13		(2,703,449)			(351,797)

Net assets/(liabilities)			5,353,056			(1,869,796)

Capital and reserves
Called up share capital	14		100			100
Other reserves	15		6,709,739			-
Profit and loss account	16		(1,356,783)			(1,869,896)

Total equity			5,353,056			(1,869,796)




J Fisher
Director
Approved by the board and authorised for issue on 23 December 2025

Bridge House (Elmwood) Limited
Statement of Changes in Equity
for the year ended 29 March 2025

Share		Other		Profit		Total
capital		reserves		and loss
account
£		£		£		£

At 30 March 2023	100		-		(2,072,538)		(2,072,438)

Profit for the financial year					202,642		202,642


At 29 March 2024	100		-		(1,869,896)		(1,869,796)



At 30 March 2024	100		-		(1,869,896)		(1,869,796)

Profit for the financial year					513,113		513,113

Gain on revaluation of land and buildings			8,946,318				8,946,318
Deferred taxation arising on the revaluation of land and buildings			(2,236,579)				(2,236,579)
Other comprehensive income for the financial year	-		6,709,739		-		6,709,739
Total comprehensive income for the financial year	-		6,709,739		513,113		7,222,852


At 29 March 2025	100		6,709,739		(1,356,783)		5,353,056

Bridge House (Elmwood) Limited
Notes to the Accounts
for the year ended 29 March 2025

1	Summary of significant accounting policies

	Basis of preparation
	The financial statements have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts . Turnover includes revenue earned from the fees receivable for healthcare services.

	Going Concern
	The entity finances its operations through bank loans and working capital. Loan facilities are in place to February 2037. The directors have detailed forecasts for the period to 29 March 2025 which indicate that based on continued profitable trading the company and the group are able to operate within the agreed facilities for a period of 12 months from approval of the financial statements. On this basis the financial statements have been prepared on a going concern basis.

	Reduced disclosures
	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’ - Carrying amounts, interest income/expense and net gains/losses for each category of financial instrument; basis of determining fair values; details of collateral; and Section 33 ‘Related Party Disclosures’ - Compensation for key management personnel. The financial statements of the company are consolidated in the financial statements of Fisher Care Group Limited. These consolidated financial statements are available from its registered office

	Tangible fixed assets

	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Freehold buildings			1% straight line
	Fixtures, fittings, tools and equipment			10%-33% straight line


	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Critical accounting estimates and judgements

	In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision effects both current and future periods.


3	Analysis of turnover					2025		2024
£							£

	Fees for healthcare services					3,976,229		3,230,344

	By geographical market:

	UK					3,976,229		3,230,344


4	Operating profit					2025		2024
£							£
	This is stated after charging:

	Depreciation of owned fixed assets					154,510		133,857
	Auditors' remuneration for audit services					6,000		6,000


5	Staff costs					2025		2024
£							£

	Wages and salaries					2,008,947		1,790,934
	Social security costs					174,490		133,149
	Other pension costs					26,510		22,329
						2,209,947		1,946,412


	Average number of employees during the year					Number	Number

	Care Home Staff					84		84
						84		84


6	Interest payable					2025		2024
£							£

	Bank loans and overdrafts					308,653		307,366
	Finance charges payable under finance leases and hire purchase contracts					677		-
						309,330		307,366


7	Taxation					2025		2024
£							£
	Analysis of charge in period
	Deferred tax:
	Origination and reversal of timing differences					115,073		71,548


	Tax on profit on ordinary activities					115,073		71,548


	Factors affecting tax charge for period
	The differences between the tax assessed for the period and the standard rate of corporation tax are explained as follows:

						2025		2024
£							£
	Profit on ordinary activities before tax					628,186		274,190

	Standard rate of corporation tax in the UK					25%		25%

£							£
	Profit on ordinary activities multiplied by the standard rate of corporation tax					157,047		68,548

	Effects of:
	Expenses not deductible for tax purposes					(12)		(7,457)
	Capital allowances for period in excess of depreciation					11,846		16,181
	Deferred tax					115,073		71,548
	Other					(168,881)		(77,272)

	Current tax charge for period					115,073		71,548


	Factors that may affect future tax charges



8	Tangible fixed assets
				Land and buildings		Fixtures, fittings, tools and equipment		Total
				At valuation		At cost
£					£		£
	Cost or valuation
	At 30 March 2024			6,425,279		680,525		7,105,804
	Additions			-		38,645		38,645
	Revaluation			8,474,721		-		8,474,721
	At 29 March 2025			14,900,000		719,170		15,619,170

	Depreciation
	At 30 March 2024			387,258		394,888		782,146
	Charge for the year			84,340		70,170		154,510
	Revaluation			(471,598)		-		(471,598)
	At 29 March 2025			-		465,058		465,058

	Carrying amount
	At 29 March 2025			14,900,000		254,112		15,154,112
	At 29 March 2024			6,038,021		285,637		6,323,658


						2025		2024
£							£
	Carrying amount of land and buildings on cost basis					6,038,021		6,038,021


	The buildings were valued on the basis of open market value in 2025 by Lambert Smith Hampton, a RICS authorised valuer.

9	Debtors					2025		2024
£							£

	Trade debtors					42,338		62,063
	Amounts owed by group undertakings and undertakings in which the company has a participating interest					72,482		-
	Other debtors					-		20,271
	Prepayments and accrued income					7,874		33,251
						122,694		115,585


10	Creditors: amounts falling due within one year					2025		2024
£							£

	Bank loans					4,400,000		251,172
	Other loans					-		29,687
	Trade creditors					73,409		247,575
	Amounts owed to group undertakings and undertakings in which the company has a participating interest					2,674,533		3,552,670
	Other taxes and social security costs					77,095		217,189
	Other creditors					190,786		179,321
	Accruals and deferred income					73,245		6,035
						7,489,068		4,483,649


11	Creditors: amounts falling due after one year					2025		2024
£							£

	Bank loans					-		3,686,094
	Other loans							-


12	Loans					2025		2024
£							£
	Loans not wholly repayable within five years:
	Loan 1 (give details of repayment terms and interest rate)					4,400,000		3,937,266

	Analysis of maturity of debt:
	Within one year or on demand					4,400,000		251,172
	Between one and two years					-		434,387
	Between two and five years					-		753,516
	After five years					-		2,498,191
						4,400,000		3,937,266

	The bank loans are secured by a debenture over the assets of the company, first legal charge over the company's property and cross guarantees from fellow group companies.The bank loan bears interest of 2.35% per annum over base rate and was repaid after the year end following the successful negotiation of a new funding deal.


13	Deferred taxation					2025		2024
£							£

	Revaluation of land and buildings					2,236,579		-
	Accelerated capital allowances					470,119		458,789
	Tax losses carried forward					(3,249)		(106,992)
						2,703,449		351,797


						2025		2024
£							£

	At 30 March					351,797		280,249
	Charged to the profit and loss account					115,073		71,548
	Charged to other comprehensive income					2,236,579		-

	At 29 March					2,703,449		351,797



14	Share capital	Nominal		2025		2025		2024
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		100		100		100


15	Other reserves					2025		2024
	Revaluation reserve					£	£

	Gain on revaluation of land and buildings					8,946,318		-
	Deferred taxation arising on the revaluation of land and buildings					(2,236,579)		-

	At 29 March					6,709,739		-


16	Profit and loss account					2025		2024
£							£

	At 30 March					(1,869,896)		(2,072,538)
	Profit for the financial year					513,113		202,642

	At 29 March					(1,356,783)		(1,869,896)


17	Controlling party

	The ultimate controlling party is Fisher Care Group Limited, a company registered in England & Wales.


18	Presentation currency

	The financial statements are presented in Sterling.


19	Legal form of entity and country of incorporation

	Bridge House (Elmwood) Limited is a private company limited by shares and incorporated in England.


20	Principal place of business

	The address of the company's principal place of business and registered office is:

	Henson House
	Ponteland Road
	Newcastle upon Tyne
	Tyne & Wear
	NE5 3DF