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Registered number: 05317196 CARE AT HOME SERVICES (SOUTH EAST) LIMITED ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
CARE AT HOME SERVICES (SOUTH EAST) LIMITED COMPANY INFORMATION
Directors | D R McDowell (resigned 2 May 2025)
| D A McDowell (resigned 2 May 2025)
| J E Page (resigned 2 May 2025)
| G R Taylor (resigned 2 May 2025)
| P E Carter (resigned 2 May 2025)
| C K Donald (appointed 2 May 2025)
| S S Keshtgar (appointed 2 May 2025, resigned 10 December 2025)
| J C Landucci-Harmey (appointed 10 December 2025)
Company secretary | J C Landucci-Harmey (appointed 2 May 2025) D A McDowell (resigned 2 May 2025)
Registered number | 05317196
Registered office | 22 Church Road
| Tunbridge Wells
| Kent
| TN1 1JP
Independent auditor | MHA
| Lyndean House
| 30-32 Albion Place
| Maidstone
| United Kingdom
| ME14 5DZ
CARE AT HOME SERVICES (SOUTH EAST) LIMITED CONTENTS
| Page
Group strategic report | 1 - 4
Directors' report | 5 - 9
Independent auditor's report | 10 - 13
Consolidated statement of comprehensive income | 14
Consolidated balance sheet | 15
Company balance sheet | 16 - 17
Consolidated statement of changes in equity | 18
Company statement of changes in equity | 19
Consolidated statement of cash flows | 20 - 21
Consolidated analysis of net debt | 22
Notes to the financial statements | 23 - 43
CARE AT HOME SERVICES (SOUTH EAST) LIMITED GROUP STRATEGIC REPORT FOR THE YEAR ENDED 30 APRIL 2025
Introduction
The directors present their strategic report of the Company and the Group for the year ended 30 April 2025. The principal activity of the Company and the Group is the provision of domiciliary care services in England to people over the age of sixty-five as well as young adults with a broad range of needs including physical and sensory impairment, learning disabilities and a range of complex health needs.
Business review and Key performance indicators
The most significant events during the financial year were: ∙The ongoing shortage of applicants seeking to enter the care sector combined with increasing numbers of carers choosing to seek alternative employment, resulting in a restricted ability to take on new care packages at the rate required by local authorities or the NHS. The Group continued to alleviate this shortage through the recruitment of overseas carers using the UKVI Skilled Worker visa channel; and ∙The Group fully repaid its Thincats loan by Dec-24, via regular early repayments, overall strengthening the liquidity position of the business and reducing the interest payable burden. Turnover increased to £62.7 million (2024: £59.1 million), supported by improved contract pricing and operational efficiencies. Although care hours delivered fell by 3.7%, the Group maintained stable service-level performance across all regions. Gross profit was £15.1 million, broadly consistent with the prior year (2024: £15.1 million). Cost management remained a key focus, with administrative expenses held at controlled levels throughout the year. Profitability The Group reported: ∙Operating profit: £1.73 million (2024: £1.99 million) ∙Profit before tax: £1.62 million (2024: £1.63 million) ∙Profit after tax: £0.86 million (2024: £0.94 million) The results reflect ongoing investment in service quality and workforce stability, alongside disciplined financial management. Balance Sheet Strengthening Net assets increased to £11.6 million (2024: £9.3 million), representing continued year-on-year growth. Cash at bank and in hand rose to £4.43 million (2024: £3.33 million), despite significant voluntary repayments of external debt. Debt Reduction The Group completed the repayment of all long-term borrowings during the financial year, resulting in: ∙Full settlement of £2.43 million previously due after more than one year ∙Reduction of short-term debt to immaterial levels by year-end ∙A strengthened liquidity position and reduced interest burden The Group has maintained its record in achievement of Care Quality Commission inspections with 89% of branches rated Good or better (as a percentage of rated branches), being also 89% in the prior year. Page 1
CARE AT HOME SERVICES (SOUTH EAST) LIMITED GROUP STRATEGIC REPORT (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2025
Principal risks and uncertainties
The management of the business and the execution of the Group’s strategy are subject to several risks. The key business risks and uncertainties affecting the Group are considered to relate to the ongoing compliance with current and future legislation affecting the sector, the extent of social care funding and the availability of care and support workers. Competitive & market risks The Group is subject to competitive markets for care contracts which are mitigated with competitive pricing and commissioner confidence in the quality of care provided by the Group. Exposure to credit, liquidity and cash flow risk The group operates predominantly under contracts with local authorities to provide care in the community. These contracts tend to be for fixed periods of time and the directors are satisfied the group has limited exposure to credit risk arising from these contracts as they are essentially funded by Central government and generally pay within the agreed terms. The company’s liquidity risk is managed by ensuring reasonable trade credit payment terms with its suppliers and maintaining healthy cash balances. The third-party debt assumed to fund the acquisition of Westminster Homecare has a fixed rate of interest and hence the Group is not at risk of fluctuating short term interest rates. Regulatory Risk The care sector is a highly regulated environment requiring specialist skills and training to work within the community. Management ensure that staff have sufficient training to deliver the care at the high standard required. The Group has 34 locations/branches that are rated by the CQC. The latest distribution of these ratings is shown below:
CQC Rating | Locations
Outstanding | 1
Good | 24
Requires improvement | 4
Inadequate | 0
Awaiting CQC Rating | 7
Page 2
CARE AT HOME SERVICES (SOUTH EAST) LIMITED GROUP STRATEGIC REPORT (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2025
Directors' statement of compliance with duty to promote the success of the Group
The directors confirm that they have regard to broader stakeholder interests when performing their duty under section 172 of the Companies Act 2006 and in doing so have regard to (amongst other matters): ∙The likely consequences of any decision in the long term The directors are focused on the success of the Group over the long-term through the implementation of a strategy to develop in geographies where it can bring a strong value proposition to the domiciliary care market. This involves leveraging its reputations of being a provider of high quality care and a good employer together with appropriate investment in technology to enable our staff to focus on care delivery. The directors regularly review performance, opportunities and risks in the markets that the Group operates in to ensure it is focused on those areas that will deliver the best returns. ∙The interests of the employees The directors believe that it is important to recruit and retain capable and caring staff regardless of their sex, marital status, race or religion. It is the Group's policy to give full and fair consideration to applications for employment from people who are disabled and to arrange appropriate training for employees who become disabled and to provide equal opportunities for the career development, training and promotion of disabled employees. The directors also recognise that the continued position of the Group in the health and social care industry depends on the quality and motivation of its employees and as such the Group is committed to pursue employment policies which will continue to attract, retain and motivate its employees. Good and effective employee communications are particularly important, and throughout the business it is the directors' policy to promote the understanding by all employees of the Group's business aims and performance. This is achieved through a variety of communication approaches, such as quarterly team meetings, newsletters and supervisions for each at a branch level as well as the annual survey at the Group level. The Group's policy is to give full and fair consideration to applications for employment made by disabled persons, having regard to their particular aptitudes and abilities. Disabled employees receive appropriate training to promote their career development within the group. Employees who become disabled are retained in their existing posts where possible or retrained for suitable alternative posts. ∙Fostering business relationships with suppliers, customers and others To the Group, customers are both the commissioners of care (e.g. local authorities or NHS) with whom the Group has a direct contractual relationship and the recipients of care. Engagement with recipients of care is usually a daily activity via our carer workforce. We also ensure the quality of this care is maintained at a high level via our groupwide Quality Assurance team who ensure that all complaints are dealt with on a timely basis, undertake carer spot checks, assist with quarterly service reviews and manage annual feedback surveys with our service users. Maintaining relationships with our commissioners is a key focus for all our Registered Managers and is achieved through regular dialogue and excellent service delivery. Regarding suppliers, the Group has a small number of strategic suppliers who have been selected based on their scale, robustness and ability to meet the Group’s requirements. Regular dialogue is maintained with each of these suppliers to ensure a mutually beneficial relationship. Page 3
CARE AT HOME SERVICES (SOUTH EAST) LIMITED GROUP STRATEGIC REPORT (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2025 ∙The impact of operations on the community and the environment The delivery of care to individuals in their own home, thereby avoiding hospitalisation or permanently moving out of their long-term residence helps to maintain the richness of our local communities. Our staff typically live in the communities in which they work and hence take pride in the positive contribution made to the wellbeing of residents and the environment. The Group recognises the importance of its environmental responsibilities and monitors its impact on the environment and designs and implements appropriate policies to minimise carbon usage and other impacts. See for further details in respect of environmental impacts in the Directors' Report. ∙Maintaining a reputation for high standards of business conduct Ethical business represents a cornerstone of the Group's strategic approach, as part of its wider focus to be a responsible and committed employer and business partner for Local Authorities. The directors ensure that the Group implements procedures and awareness training which reflect the requirements of UK legislation such as the Bribery Act and Modern Slavery Act, as well as the wider Group compliance procedures. The Group is committed, in its day-to-day operations to uphold high standards of business conduct and integrity. ∙Acting fairly as between members of the Company Each of the Directors have an ownership stake in the Group and therefore acting fairly between members is embedded in day-to-day working together with regular senior leadership team meetings. This report was approved by the board and signed on its behalf.
................................................ J C Landucci-Harmey Director
Date: 19 December 2025
Page 4
CARE AT HOME SERVICES (SOUTH EAST) LIMITED DIRECTORS' REPORT FOR THE YEAR ENDED 30 APRIL 2025 The directors present their report and the financial statements for the year ended 30 April 2025.
Directors' responsibilities statement
The directors are responsible for preparing the Group strategic report, the Directors' report and the consolidated 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 for the Group's financial statements and then apply them consistently; ∙make judgements and accounting 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 Group 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 the Group and to 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.
Results and dividends
The profit for the year, after taxation, amounted to £829,565 (2024 - £944,530). A dividend of £100,000 was declared and paid (2023 - £248,581).
Directors
The directors who served during the year were:
D R McDowell (resigned 2 May 2025)
D A McDowell (resigned 2 May 2025)
J E Page (resigned 2 May 2025)
G R Taylor (resigned 2 May 2025)
P E Carter (resigned 2 May 2025)
S S Keshtgar (appointed 2 May 2025, resigned 10 December 2025)
Page 5
CARE AT HOME SERVICES (SOUTH EAST) LIMITED DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2025
Price risk, credit risk, liquidity risk and cash flow risk
The company is exposed to the usual credit and cash flow risks associated with selling on credit and is managed by an experienced credit team who constantly monitor the Company’s outstanding positions. In accordance with the Financial Reporting Council's 'Going Concern and Liquidity Risk: Guidance for Directors of UK Companies 2009', the directors of all companies are now required to provide disclosures regarding the adoption of the going concern basis of accounting. The company has sufficient resources available, and the directors have prepared forecasts for the next 12 months that indicate that this will continue to be the case and that these cash flows will be sufficient for the company to meet its financing commitments as they fall due. The directors therefore have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and have continued to adopt the going concern basis in preparing the financial statements.
Future developments
The Group was sold to the Cera Care Group on 2nd May 2025. Despite this change, the directors intend to continue to grow the business in the coming year, as well as take advantage of the advantages and support from being a member of a larger group.
Engagement with suppliers, customers and others
The company encourages the involvement of employees in its management through regular departmental meetings. It promotes open dialogue and collaboration to ensure that staff perspectives meaningfully contribute to decision-making and continuous improvement. We are committed to engaging openly and responsibly with our suppliers, customers, and all other stakeholders. We promote transparent communication, ethical and fair practices, and collaborative relationships that support quality, sustainability, and continuous improvement. We value the trust placed in us and work to uphold it by maintaining regulatory compliance, respecting stakeholder needs, and contributing positively to the communities in which we operate.
Employment of disabled persons
Applications for employment by disabled employees are given full and fair consideration for all vacancies in accordance with their particular aptitudes and abilities. In the event of employees becoming disabled, every effort is made to retrain them in order that their employment with the Company may continue. It is the policy of the Company that training, career development and promotion opportunities should be available to all employees. Page 6
CARE AT HOME SERVICES (SOUTH EAST) LIMITED DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2025
Greenhouse gas emissions, energy consumption and energy efficiency action
Care At Home Services Limited is a 'large unquoted company' under the Streamlined Energy and Carbon Reporting regulations so must report annually on greenhouse gas emissions from Scope 1 and 2 Electricity, Gas and Transport. Methodology The reporting period is the most recent financial year 01/05/2023 to 30/04/2024. This report has been compiled in line with the March 2019 BEIS 'Environmental Reporting Guidelines: Including streamlined energy and carbon reporting guidance', and the EMA methodology for SECR Reporting. All measured emissions from activities which the organisation has financial control over are included as required under The Companies (Directors’ Report) and Limited Liability Partnerships (Energy and Carbon Report) Regulations 2018, unless otherwise stated in the exclusions statement. The carbon figures have been calculated using the DESNZ 2023 carbon conversion factors for all fuels, other than the market based electricity which has been taken from British Gas, SSE, E-On Next, Scottish Power & British Gas Lite as the UK suppliers. UK Carbon Footprint Data Page 7
CARE AT HOME SERVICES (SOUTH EAST) LIMITED DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2025 Year on Year Emissions Changes Care at Home Services Limited's location-based emissions decreased from 931 tCO2e in 2023/24 to 921 tCO2e in 2024/25. This is an emissions reduction of 1.1%. Scope 1 emissions decreased from 233 tCO2e in 2023/24 to 224 tCO2e in 2024/25, this is an emissions reduction of 3.9%. This reduction is due to a decrease in associated transport emissions. The emissions associated with scope 1 transport (petrol & diesel) decreased from 194 tCO2e in 2023/24 to 171 tCO2e in 2024/25. Natural Gas consumption increased from 213,744 kWh in 2023/24 to 290,009 kWh in 2024/25, resulting in an emissions rise of 14 tCO2e. Scope 2 electricity consumption decreased from 142,273 kWh in 2023/24 to 124,088 kWh in 2024/25, a 12.8% decrease in consumption. Scope 2 location-based emissions decreased from 29 tCO2e to 26 tCO2e. This is consistent with market-based emissions which also saw a decrease, with associated emissions falling from 13 tCO2e to 6 tCO2e. Care at Home services Limited report their emissions intensity on a turnover basis. Emissions per £m turnover decreased from 15.8 tCO2e/£m turnover in 2024/24 to 14.7 tCO2e/£m turnover in 2024/25. Page 8
CARE AT HOME SERVICES (SOUTH EAST) LIMITED DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2025 Energy Efficiency Actions taken Relocating from larger, older office space into smaller, newer office space. The ability to do this is via digitisation of the business (no need for paper storage). This subsequently, for the most part, comes with reduced energy costs due to the smaller space and better energy efficiency associated with newer offices.
Matters covered in the Group strategic report
Certain items required under Schedule 7 to be disclosed in the Directors' Report are set out in the Strategic Report in accordance with S.414C(II) of the Companies Act 2006; these being the Group's principle risks and uncertainties, and engagement with employees including the employment of disabled persons, customers and suppliers.
Disclosure of information to auditor
Each of the persons who are directors at the time when this Directors' report is approved has confirmed that: ∙so far as the director is aware, there is no relevant audit information of which the Company and the Group's auditor is unaware, and ∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company and the Group's auditor is aware of that information.
Post balance sheet events
On 2 May 2025 100% of the company's shares were acquired by Cera Care Operations Holdings Limited.
Auditor
The auditor, MHA, previously traded through the legal entity MacIntyre Hudson LLP. In response to regulatory changes, MacIntyre Hudson LLP ceased to hold an audit registration with the engagement transitioning to MHA Audit Services LLP. MHA will be proposed for reappointment in accordance with section 485 of the Companies Act 2006. This report was approved by the board and signed on its behalf.
................................................ J C Landucci-Harmey Director
Date: 19 December 2025
Page 9
CARE AT HOME SERVICES (SOUTH EAST) LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CARE AT HOME SERVICES (SOUTH EAST) LIMITED
Opinion
We have audited the financial statements of Care at Home Services (South East) Limited (the 'parent Company') and its subsidiaries (the 'Group') for the year ended 30 April 2025, which comprise the Consolidated Statement of Comprehensive Income, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cashflow, the Consolidated and CompanyStatement of Changes in Equity and the related notes, 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's affairs as at 30 April 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 Auditor's 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 United Kingdom, including the Financial Reporting Council'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 or 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. Page 10
CARE AT HOME SERVICES (SOUTH EAST) LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CARE AT HOME SERVICES (SOUTH EAST) LIMITED (CONTINUED)
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.
Opinion 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 Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and ∙the Group 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 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 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 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. Page 11
CARE AT HOME SERVICES (SOUTH EAST) LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CARE AT HOME SERVICES (SOUTH EAST) LIMITED (CONTINUED)
Responsibilities of directors
As explained more fully in the Directors' responsibilities statement set out on page 5, 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 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.
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 Group 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: ∙Enquiry of management around actual and potential litigation claims; ∙Enquiry of entity staff to identify any instances of non-compliance with laws and regulations; ∙performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias; ∙Reviewing minutes of meetings of those charged with governance; and ∙Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulation. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. 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 Auditor's report. Page 12
CARE AT HOME SERVICES (SOUTH EAST) LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CARE AT HOME SERVICES (SOUTH EAST) LIMITED (CONTINUED)
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. Duncan Cochrane-Dyet BSc BFP FCA (Senior statutory auditor) for and on behalf of MHA Statutory Auditor Maidstone United Kingdom 22 December 2025 MHA is the trading name of MHA Audit Services LLP, a limited liability partnership in England and Wales (registered number OC455542) Page 13
CARE AT HOME SERVICES (SOUTH EAST) LIMITED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 30 APRIL 2025
| 2025 | 2024
Note | £ | £
Turnover | 4 | 62,657,128 | 59,060,307
Cost of sales |  | (47,589,257) | (43,949,758)
Gross profit |  | 15,067,871 | 15,110,549
Administrative expenses |  | (13,369,120) | (13,138,355)
Other operating income | 5 | 27,813 | 13,150
Operating profit | 6 | 1,726,564 | 1,985,344
Interest receivable and similar income | 10 | - | 37,582
Interest payable and similar expenses | 11 | (116,484) | (392,268)
Profit before taxation |  | 1,610,080 | 1,630,658
Tax on profit | 12 | (780,515) | (686,128)
Profit for the financial year |  | 829,565 | 944,530
Profit for the year attributable to: |  |  |
Owners of the parent Company |  | 829,565 | 944,530
|  | 829,565 | 944,530
There were no recognised gains and losses for 2025 or 2024 other than those included in the consolidated statement of comprehensive income.
There was no other comprehensive income for 2025 (2024:£NIL).
The notes on pages 23 to 43 form part of these financial statements.
Page 14
CARE AT HOME SERVICES (SOUTH EAST) LIMITED REGISTERED NUMBER: 05317196 CONSOLIDATED BALANCE SHEET AS AT 30 APRIL 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Intangible assets | 14 |  | 6,059,901 |  | 7,318,744
Tangible assets | 15 |  | 193,685 |  | 461,512
Investment property | 17 |  | - |  | 278,024
|  |  | 6,253,586 |  | 8,058,280
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 18 | 7,691,176 |  | 6,937,372 |
Cash at bank and in hand | 19 | 4,432,474 |  | 3,327,715 |
|  | 12,123,650 |  | 10,265,087 |
Creditors: amounts falling due within one year | 20 | (6,822,109) |  | (6,609,160) |
Net current assets |  |  | 5,301,541 |  | 3,655,927
Total assets less current liabilities |  |  | 11,555,127 |  | 11,714,207
Creditors: amounts falling due after more than one year | 21 |  | - |  | (2,430,570)
Net assets |  |  | 11,555,127 |  | 9,283,637
Capital and reserves |  |  |  |  |
Called up share capital | 24 |  | 350,051 |  | 303,326
Share premium account | 25 |  | 1,499,880 |  | 4,680
Capital redemption reserve | 25 |  | 116,130 |  | 116,130
Profit and loss account | 25 |  | 9,589,066 |  | 8,859,501
|  |  | 11,555,127 |  | 9,283,637
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
................................................ J C Landucci-Harmey
Director
Date: 19 December 2025
The notes on pages 23 to 43 form part of these financial statements. Page 15
CARE AT HOME SERVICES (SOUTH EAST) LIMITED REGISTERED NUMBER: 05317196 COMPANY BALANCE SHEET AS AT 30 APRIL 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 15 |  | 48,402 |  | 202,001
Investments | 16 |  | 20,649,123 |  | 20,649,123
Investment Property | 17 |  | - |  | 278,024
|  |  | 20,697,525 |  | 21,129,148
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 18 | 2,351,709 |  | 853,678 |
Cash at bank and in hand | 19 | 863,645 |  | 481,777 |
|  | 3,215,354 |  | 1,335,455 |
Creditors: amounts falling due within one year | 20 | (17,810,484) |  | (14,999,655) |
Net current liabilities |  |  | (14,595,130) |  | (13,664,200)
Total assets less current liabilities |  |  | 6,102,395 |  | 7,464,948
Creditors: amounts falling due after more than one year | 21 |  | - |  | (2,430,570)
Net assets |  |  | 6,102,395 |  | 5,034,378
Capital and reserves |  |  |  |  |
Called up share capital | 24 |  | 350,051 |  | 303,326
Share premium account | 25 |  | 1,499,880 |  | 4,680
Capital redemption reserve | 25 |  | 116,130 |  | 116,130
Profit and loss account | 25 |  | 4,136,334 |  | 4,610,242
|  |  | 6,102,395 |  | 5,034,378
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
................................................ J C Landucci-Harmey
Director
Date: 19 December 2025
Page 16
CARE AT HOME SERVICES (SOUTH EAST) LIMITED REGISTERED NUMBER: 05317196 COMPANY BALANCE SHEET (CONTINUED) AS AT 30 APRIL 2025 The notes on pages 23 to 43 form part of these financial statements. Page 17
CARE AT HOME SERVICES (SOUTH EAST) LIMITED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 30 APRIL 2025
| Called up share capital | Share premium account | Capital redemption reserve | Profit and loss account | Total equity
| £ | £ | £ | £ | £
At 1 May 2023 | 319,456 | 28,082 | 100,000 | 8,672,442 | 9,119,980
Profit for the year | - | - | - | 944,530 | 944,530
Dividends: Equity capital | - | - | - | (248,581) | (248,581)
Purchase of own shares | - | - | 16,130 | (508,890) | (492,760)
Shares redeemed during the year | (16,130) | - | - | - | (16,130)
Transfer between other reserves | - | (23,402) | - | - | (23,402)
At 1 May 2024 | 303,326 | 4,680 | 116,130 | 8,859,501 | 9,283,637
Profit for the year | - | - | - | 829,565 | 829,565
Dividends: Equity capital | - | - | - | (100,000) | (100,000)
Shares issued during the year | 46,725 | 1,495,200 | - | - | 1,541,925
At 30 April 2025 | 350,051 | 1,499,880 | 116,130 | 9,589,066 | 11,555,127
| The notes on pages 23 to 43 form part of these financial statements.
Page 18
CARE AT HOME SERVICES (SOUTH EAST) LIMITED COMPANY STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 30 APRIL 2025
| Called up share capital | Share premium account | Capital redemption reserve | Profit and loss account | Total equity
| £ | £ | £ | £ | £
At 1 May 2023 | 319,456 | 28,082 | 100,000 | 5,392,660 | 5,840,198
Loss for the year | - | - | - | (24,947) | (24,947)
Dividends: Equity capital | - | - | - | (248,581) | (248,581)
Purchase of own shares | - | - | 16,130 | (508,890) | (492,760)
Shares redeemed during the year | (16,130) | - | - | - | (16,130)
Transfer between other reserves | - | (23,402) | - | - | (23,402)
At 1 May 2024 | 303,326 | 4,680 | 116,130 | 4,610,242 | 5,034,378
Loss for the year | - | - | - | (373,908) | (373,908)
Dividends: Equity capital | - | - | - | (100,000) | (100,000)
Shares issued during the year | 46,725 | 1,495,200 | - | - | 1,541,925
At 30 April 2025 | 350,051 | 1,499,880 | 116,130 | 4,136,334 | 6,102,395
| The notes on pages 23 to 43 form part of these financial statements.
Page 19
CARE AT HOME SERVICES (SOUTH EAST) LIMITED CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 APRIL 2025
|  |  | 2025 | 2024
|  |  | £ | £
Cash flows from operating activities |  |
Profit for the financial year | 829,565 | 944,530
Adjustments for: |  |
Amortisation of intangible assets | 1,258,843 | 1,258,843
Depreciation of tangible assets | 228,401 | 248,195
Loss on disposal of tangible assets | 146,513 | (233)
Interest paid | 116,484 | 384,886
Interest received | - | (29,610)
Taxation charge | 780,515 | 686,128
(Increase) in debtors | (709,883) | (231,012)
Increase/(decrease) in creditors | 1,339,792 | (404,936)
Corporation tax (paid) | (1,157,424) | (290,003)
Net cash generated from operating activities | 2,832,806 | 2,566,788
Cash flows from investing activities |  |
Purchase of tangible fixed assets | (29,383) | (139,471)
Sale of tangible fixed assets | 68,809 | 5,083
Sale of investment properties | 131,511 | -
Interest received | - | 29,610
Net cash from investing activities | 170,937 | (104,778)
Page 20
CARE AT HOME SERVICES (SOUTH EAST) LIMITED CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2025
|  | 2025 | 2024
|  | £ | £
Cash flows from financing activities |  |
Purchase of own shares | 1,541,925 | (532,292)
Repayment of other loans | (3,145,738) | (5,338,772)
(Repayment) Issue of leases | (78,947) | 78,947
Dividends paid | (100,000) | (248,581)
Interest paid | (116,484) | (384,886)
Net cash used in financing activities | (1,899,244) | (6,425,584)
Net increase/(decrease) in cash and cash equivalents | 1,104,499 | (3,963,574)
Cash and cash equivalents at beginning of year | 3,327,715 | 7,291,289
Cash and cash equivalents at the end of year | 4,432,214 | 3,327,715
Cash and cash equivalents at the end of year comprise: |  |
Cash at bank and in hand | 4,432,474 | 3,327,715
Bank overdrafts | (260) | -
| 4,432,214 | 3,327,715
The notes on pages 23 to 43 form part of these financial statements.
Page 21
CARE AT HOME SERVICES (SOUTH EAST) LIMITED CONSOLIDATED ANALYSIS OF NET DEBT FOR THE YEAR ENDED 30 APRIL 2025
|  | At 1 May 2024 | Cash flows | At 30 April 2025
|  | £ | £ | £
Cash at bank and in hand | 3,327,715 | 1,104,759 | 4,432,474
Bank overdrafts | - | (260) | (260)
Debt due after 1 year | (2,430,570) | 2,430,570 | -
Debt due within 1 year | (715,168) | 715,168 | -
Finance leases | (78,947) | 78,947 | -
| 103,030 | 4,329,184 | 4,432,214
The notes on pages 23 to 43 form part of these financial statements.
Page 22
CARE AT HOME SERVICES (SOUTH EAST) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
1. | General information
Care at Home Services (South East) Limited is a private company, limited by shares, registered in England and Wales in the United Kingdom. The Company's registered number and registered office can be found on the Company Information page. The financial statements are presented in sterling which is the functional currency of the Company and the Group and rounded to the nearest £1. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgement in applying the Group's accounting policies (see note 3). The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements. The following principal accounting policies have been applied:
| 2.2 | Basis of consolidation
The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full. The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases. In accordance with the transitional exemption available in FRS 102, the Group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102.
| 2.3 | Going concern
The directors have assessed that there are no significant doubts in the Group and Company's ability to continue as a going concern. As a result, the financial statements have been prepared on a going concern basis. Page 23
CARE AT HOME SERVICES (SOUTH EAST) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 2.Accounting policies (continued)
| 2.4 | Turnover
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, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Rendering of domiciliary care services Revenue from a contract to provide domiciliary care services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Group will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably.
| 2.5 | Operating leases: the Group as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
| 2.6 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.7 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.8 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
| 2.9 | Pensions
Defined contribution pension plan The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Group in independently administered funds. Page 24
CARE AT HOME SERVICES (SOUTH EAST) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 2.Accounting policies (continued)
| 2.10 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company and the Group operate and generate income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and ∙Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
| 2.11 | Intangible assets
Goodwill Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of the Group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Consolidated statement of comprehensive income over its useful economic life. Page 25
CARE AT HOME SERVICES (SOUTH EAST) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 2.Accounting policies (continued)
| 2.12 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives. Depreciation is provided on the following basis:
|  |  |  | Short-term leasehold property | - | 25% | straight line
|  |  |  | Motor vehicles | - | 25% | reducing balance
|  |  |  | Fixtures and fittings | - | 25% | reducing balance
|  |  |  | Office equipment | - | 25% | reducing balance
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.13 | Impairment of fixed assets and goodwill
Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.
| 2.14 | Investment property
Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.
| 2.15 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment. Page 26
CARE AT HOME SERVICES (SOUTH EAST) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 2.Accounting policies (continued)
| 2.16 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.17 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. In the Consolidated statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.
| 2.18 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.19 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Deferred tax liabilities are also presented within provisions but are measured in accordance with the accounting policy on taxation. Increases in provisions are generally charged as an expense to profit or loss.
| 2.20 | Financial instruments
The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Group's Balance sheet when the Group becomes party to the contractual provisions of the instrument. Page 27
CARE AT HOME SERVICES (SOUTH EAST) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 2.Accounting policies (continued)
| 2.20 | Financial instruments (continued)
Basic financial assets Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial. The Group's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments. Financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Group after the deduction of all its liabilities. Basic financial liabilities, which include trade and other payables, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial. Debt instruments are subsequently carried at their amortised cost using the effective interest rate method. Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
| 2.21 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Page 28
CARE AT HOME SERVICES (SOUTH EAST) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
3. | Judgements in applying accounting policies and key sources of estimation uncertainty
In the application of the Company's accounting policies, management is required to make judgements, estimates and assumptions about carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates are underlying assumptions and are reviewed on an ongoing basis. Revision to the accounting estimates are recognised in the period in which the estimate is revised if the revisions affect only that period, or in the period of revision and future periods if the revision affects both and current and future periods. Key estimates and judgements are as follows: Judgements have been applied on the useful economic life of both tangible and intangible fixed assets, with depreciation and amortisation being charged accordingly. Details on the deemed useful economic life of assets can be found in notes 2.11 and 2.12. A judgement has been applied in respect of debtor recoverability. Due to the nature of care services being contracted with local councils, management do not consider any debtor balances to be irrecoverable, therefore no provision has been included within these financial statements. The amounts recoverable on contracts represents the value of work completed at the balance sheet date but not invoiced until after the year end. This is a calculation based on the previous 4 weekly billing cycle, compared to the days remaining to the year end since the previous billing cycle. This estimate has proved to be historically reliable. Elsewhere, a payroll accrual is also calculated in the same manner as the income accrual but using payroll cycles.
4. | Turnover
The whole of the turnover is attributable to the principal activity of the group, being that of domiciliary care services.
| All turnover arose within the United Kingdom.
5. | Other operating income
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other operating income | 27,813 | 13,150
|  | 27,813 | 13,150
Page 29
CARE AT HOME SERVICES (SOUTH EAST) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
6. | Operating profit
| The operating profit is stated after charging:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other operating lease rentals | 246,485 | 241,060
7. | Auditor's remuneration
| During the year, the Group obtained the following services from the Company's auditor and its associates:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Fees payable to the Company's auditor and its associates for the audit of the consolidated and parent Company's financial statements | 78,262 | 75,433
| Fees payable to the Company's auditor and its associates in respect of: |  |
| Taxation compliance services | 8,101 | 7,808
| All other services | 15,356 | 15,707
Page 30
CARE AT HOME SERVICES (SOUTH EAST) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
8. | Employees
| Staff costs, including directors' remuneration, were as follows:
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Wages and salaries | 46,969,014 | 44,883,170 | 10,485,696 | 10,472,332
| Social security costs | 4,445,150 | 3,344,097 | 1,051,324 | 733,369
| Cost of defined contribution scheme | 1,015,305 | 804,262 | 320,970 | 211,734
|  | 52,429,469 | 49,031,529 | 11,857,990 | 11,417,435
| The average monthly number of employees, including the directors, during the year was as follows:
|  |  | Group | Group | Company | Company
|  |  | 2025 | 2024 | 2025 | 2024
|  |  | No. | No. | No. | No.
|  | Directors | 5 | 6 | 5 | 3
|  | Administration | 222 | 240 | 53 | 42
|  | Carers | 2,054 | 2,153 | 483 | 515
|  |  | 2,281 | 2,399 | 541 | 560
9. | Directors' remuneration
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Directors' emoluments | 348,906 | 423,166
| Group contributions to defined contribution pension schemes | 126,468 | 17,389
|  | 475,374 | 440,555
| During the year retirement benefits were accruing to 3 directors (2024 - 4) in respect of defined contribution pension schemes.
| The highest paid director received remuneration of £120,000 (2024 - £120,000).
| The value of the Group's contributions paid to a defined contribution pension scheme in respect of the highest paid director amounted to £2,100 (2024 - £300).
| The directors are the key management personnel of the Group and their remuneration is shown above.
Page 31
CARE AT HOME SERVICES (SOUTH EAST) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
10. | Interest receivable
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other interest receivable | - | 37,582
|  | - | 37,582
11. | Interest payable and similar expenses
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other loan interest payable | 97,355 | 377,260
| Other interest payable | 19,129 | 15,008
|  | 116,484 | 392,268
12. | Taxation
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Corporation tax |  |
| Current tax on profits for the year | 808,638 | 728,499
| Adjustments in respect of previous periods | 15,798 | (22,237)
| Total current tax | 824,436 | 706,262
| Deferred tax |  |
| Origination and reversal of timing differences | (38,756) | (20,134)
| Group relief | (5,165) | -
| Total deferred tax | (43,921) | (20,134)
|  | 780,515 | 686,128
Page 32
CARE AT HOME SERVICES (SOUTH EAST) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 12.Taxation (continued)
| Factors affecting tax charge for the year
| The tax assessed for the year is higher than (2024 - higher than) the standard rate of corporation tax in the UK of 25% (2024 - 25%). The differences are explained below:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Profit on ordinary activities before tax | 1,610,080 | 1,630,658
| Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%) | 402,520 | 407,665
| Effects of: |  |
| Non-tax deductible amortisation of goodwill | - | 297,749
| Expenses not deductible for tax purposes, other than goodwill amortisation and impairment | 44,230 | 75
| Capital allowances for year in excess of depreciation | 17,335 | 17,903
| Income not taxable for tax purposes | (110) | -
| Adjustments to tax charge in respect of prior periods | 15,798 | 2,103
| Movement in deferred tax not recognised | - | (31,989)
| Capital gains | 5,494 | -
| Other differences leading to an increase (decrease) in the tax charge | 295,358 | (7,378)
| Marginal relief | (110) | -
| Total tax charge for the year | 780,515 | 686,128
| Factors that may affect future tax charges
There were no factors that may affect future tax charges.
13. | Dividends
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Ordinary A shares | - | 148,581
| Ordinary C shares | 100,000 | 100,000
|  | 100,000 | 248,581
Page 33
CARE AT HOME SERVICES (SOUTH EAST) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
14. | Intangible assets
| Group
|  | Goodwill
|  | £
| Cost |
| At 1 May 2024 | 16,238,269
| At 30 April 2025 | 16,238,269
| Amortisation |
| At 1 May 2024 | 8,919,525
| Charge for the year on owned assets | 1,258,843
| At 30 April 2025 | 10,178,368
| Net book value |
| At 30 April 2025 | 6,059,901
| At 30 April 2024 | 7,318,744
Page 34
CARE AT HOME SERVICES (SOUTH EAST) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
15. | Tangible fixed assets
| Group
|  | Short-term leasehold property | Motor vehicles | Fixtures and fittings | Office equipment | Total
|  | £ | £ | £ | £ | £
| Cost or valuation |  |  |  |  |
| At 1 May 2024 | 195,860 | 864,357 | 101,537 | 362,605 | 1,524,359
| Additions | - | - | - | 29,383 | 29,383
| Disposals | - | (128,774) | (62,951) | (220) | (191,945)
| At 30 April 2025 | 195,860 | 735,583 | 38,586 | 391,768 | 1,361,797
| Depreciation |  |  |  |  |
| At 1 May 2024 | 195,860 | 570,718 | 84,412 | 211,857 | 1,062,847
| Charge for the year | - | 147,523 | 5,134 | 67,498 | 220,155
| Disposals | - | (51,500) | (62,951) | (439) | (114,890)
| At 30 April 2025 | 195,860 | 666,741 | 26,595 | 278,916 | 1,168,112
| Net book value |  |  |  |  |
| At 30 April 2025 | - | 68,842 | 11,991 | 112,852 | 193,685
| At 30 April 2024 | - | 293,639 | 17,125 | 150,748 | 461,512
| The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Motor vehicles | - | 89,540
|  | - | 89,540
Page 35
CARE AT HOME SERVICES (SOUTH EAST) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 15.Tangible fixed assets (continued)
| Company
|  | Short-term leasehold property | Motor vehicles | Fixtures and fittings | Office equipment | Total
|  | £ | £ | £ | £ | £
| Cost or valuation |  |  |  |  |
| At 1 May 2024 | 171,570 | 386,993 | 18,149 | 110,147 | 686,859
| Additions | - | - | - | 11,301 | 11,301
| Disposals | - | (118,180) | - | - | (118,180)
| At 30 April 2025 | 171,570 | 268,813 | 18,149 | 121,448 | 579,980
| Depreciation |  |  |  |  |
| At 1 May 2024 | 171,570 | 235,004 | 10,120 | 68,164 | 484,858
| Charge for the year on owned assets | - | 66,802 | 1,111 | 23,785 | 91,698
| Disposals | - | (44,759) | - | (219) | (44,978)
| At 30 April 2025 | 171,570 | 257,047 | 11,231 | 91,730 | 531,578
| Net book value |  |  |  |  |
| At 30 April 2025 | - | 11,766 | 6,918 | 29,718 | 48,402
| At 30 April 2024 | - | 151,989 | 8,029 | 41,983 | 202,001
Page 36
CARE AT HOME SERVICES (SOUTH EAST) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
16. | Fixed asset investments
| Company
|  | Investments in subsidiary companies
|  | £
| Cost or valuation |
| At 1 May 2024 | 20,649,123
| At 30 April 2025 | 20,649,123
| Direct subsidiary undertakings
| The following were direct subsidiary undertakings of the Company:
| Name | Registered office | Class of shares | Holding
| Beech Tree Total Care Limited | 22 Church Road, Tunbridge Wells, Kent, TN1 1JP | Ordinary | 100%
| Domus Live-In Care Limited | 22 Church Road, Tunbridge Wells, Kent, TN1 1JP | Ordinary | 100%
| Care at Home Extra Services Limited (Dormant) | 22 Church Road, Tunbridge Wells, Kent, TN1 1JP | Ordinary | 100%
| Westminster Homecare Limited | 22 Church Road, Tunbridge Wells, Kent, TN1 1JP | Ordinary | 100%
| Indirect subsidiary undertakings
| The following were indirect subsidiary undertakings of the Company:
| Name | Registered office | Class of shares | Holding
| Domus Extra Care Limited | 22 Church Road, Tunbridge Wells, Kent, TN1 1JP | Ordinary | 100%
| Extra Carers Limited (Dormant) | 22 Church Road, Tunbridge Wells, Kent, TN1 1JP | Ordinary | 100%
| National Medicare Limited (Dormant) | 22 Church Road, Tunbridge Wells, Kent, TN1 1JP | Ordinary | 100%
| Independent Living Network East Limited (Dormant) | 22 Church Road, Tunbridge Wells, Kent, TN1 1JP | Ordinary | 100%
| Care In The Home Limited (Dormant) | 22 Church Road, Tunbridge Wells, Kent, TN1 1JP | Ordinary | 100%
| Home Choice Care Limited (Dormant) | 22 Church Road, Tunbridge Wells, Kent, TN1 1JP | Ordinary | 100%
Page 37
CARE AT HOME SERVICES (SOUTH EAST) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
17. | Investment property
| Group and Company
|  | Long term leasehold investment property
|  | £
| At 1 May 2024 | 278,024
| Disposals | (278,024)
| At 30 April 2025 | -
The property was purchased in December 2021, and valued until disposal at cost which in view of the Directors represented the market value.
18. | Debtors
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Trade debtors | 5,127,834 | 5,951,664 | 244,357 | 258,032
| Amounts owed by group undertakings | - | - | 8,784 | 50,323
| Other debtors | 1,606,107 | 102,334 | 1,521,567 | 30,335
| Prepayments and accrued income | 869,822 | 839,882 | 537,047 | 496,459
| Deferred taxation | 87,413 | 43,492 | 39,954 | 18,529
|  | 7,691,176 | 6,937,372 | 2,351,709 | 853,678
| Amounts owed by group undertakings are unsecured, interest free and repayable on demand.
Page 38
CARE AT HOME SERVICES (SOUTH EAST) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
19. | Cash and cash equivalents
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Cash at bank and in hand | 4,432,474 | 3,327,715 | 863,645 | 481,777
| Less: bank overdrafts | (260) | - | - | -
|  | 4,432,214 | 3,327,715 | 863,645 | 481,777
20. | Creditors: Amounts falling due within one year
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Bank overdrafts | 260 | - | - | -
| Other loans | - | 715,168 | - | 715,168
| Trade creditors | 794,799 | 907,154 | 36,401 | 72,737
| Amounts owed to group undertakings | - | - | 16,474,511 | 13,528,482
| Corporation tax | 382,105 | 715,093 | - | -
| Other taxation and social security | 1,040,827 | 453,877 | 500,000 | -
| Obligations under finance lease and hire purchase contracts | - | 78,947 | - | 78,947
| Other creditors | 3,043,230 | 2,944,923 | 15,287 | 148,367
| Accruals and deferred income | 1,560,888 | 793,998 | 784,285 | 455,954
|  | 6,822,109 | 6,609,160 | 17,810,484 | 14,999,655
| Net obligations under finance leases and hire purchase contracts are secured against the fixed assets to which the leases relate. Amounts due to group undertakings are unsecured, interest free and repayable on demand. At the previous balance sheet date all company assets were pledged as security for loans, held under a first fixed charge on specific assets and a first floating charge over all remaining assets. These charges were released on 1 April 2025. Following the acquisition by Cera Care Operations Holdings Limited (see Note 29), the company entered into a deed of debenture. This agreement grants the acquirer a fixed charge over all fixed and capital assets, alongside a floating charge over all remaining company assets.
Page 39
CARE AT HOME SERVICES (SOUTH EAST) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
21. | Creditors: Amounts falling due after more than one year
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Other loans | - | 2,430,570 | - | 2,430,570
|  | - | 2,430,570 | - | 2,430,570
22. | Loans
| Analysis of the maturity of loans is given below:
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Amounts falling due within one year |  |  |  |
| Other loans | - | 715,168 | - | 715,168
| Amounts falling due 1-2 years |  |  |  |
| Other loans | - | 2,430,570 | - | 2,430,570
| Amounts falling due 2-5 years |  |  |  |
|  | - | 3,145,738 | - | 3,145,738
| All loans were repaid in the year.
Page 40
CARE AT HOME SERVICES (SOUTH EAST) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
23. | Deferred taxation
| Group
|  | 2025 | 2024
|  | £ | £
| At beginning of year | 43,492 | 23,358
| Charged to profit or loss | 25,481 | (356)
| Utilised in year | 18,440 | 20,490
| At end of year | 87,413 | 43,492
| Company
|  | 2025 | 2024
|  | £ | £
| At beginning of year | 18,529 | 23,361
| Charged to profit or loss | 21,425 | (4,832)
| At end of year | 39,954 | 18,529
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Accelerated capital allowances | 85,831 | 37,213 | 38,372 | 12,250
| Tax losses carried forward | 1,582 | 6,249 | - | 6,249
| Short-term timing differences | - | 30 | 1,582 | 30
|  | 87,413 | 43,492 | 39,954 | 18,529
Page 41
CARE AT HOME SERVICES (SOUTH EAST) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
24. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 346,725 (2024 - 300,000) Ordinary A shares of £1.0000 each | 346,725 | 300,000
|  | 100,000 (2024 - 100,000) Ordinary C shares of £0.0010 each | 100 | 100
|  | 3,226 (2024 - 3,226) Ordinary A (EMI) shares of £1.0000 each | 3,226 | 3,226
|  |  | 350,051 | 303,326
46,725 £1 Ordinary A shares were issued by the Company in the year for cash consideration of £33 per share, totalling £1,541,925.
25. | Reserves
Share premium account Consideration received in excess of the nominal value for shares is reflected in the share premium account. Capital redemption reserve The capital redemption arose due to the buy-back by the Company in 2024 of 16,130 £1 Ordinary A (EMI) shares and the issue of 100,000 £1 Ordinary B shares in 2022. Profit and loss account The profit and loss reserve represents accumulated profits and losses net of dividends and other adjustments.
26. | Pension commitments
The Group operated a defined contributions pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. The pension cost charge represents contributions payable by the Group to the fund and amounted to £745,958 (2024 - £656,041). Contributions totalling £286 (2024 - £106,089) were payable to the fund at the balance sheet date and are included in creditors. Page 42
CARE AT HOME SERVICES (SOUTH EAST) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
27. | Commitments under operating leases
| At 30 April 2025 the Group and the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Not later than 1 year | 47,893 | 72,574 | 3,966 | 25,287
| Later than 1 year and not later than 5 years | 19,158 | 56,946 | 13,333 | 15,633
|  | 67,051 | 129,520 | 17,299 | 40,920
28. | Related party transactions
| The company has taken advantage of the exemption not to disclose transactions with other members of the group headed by Care at Home Services (South East) Limited. During the year, a related company with common ownership purchased the investment property for £300,000 (2024 - £Nil), with £Nil outstanding at year end (2024 - £Nil). During the year, a director purchased a motor vehicle from the company for £43,855 (2024 - £Nil), with £25,000 outstanding at year end (2024 - £Nil) paid shortly after the year end. During the year, 3 directors purchased the Ordinary A shares issued as shown in note 24. During the year, additional one off pension contributions to the directors were paid of £92,227 (2024 - £8,110) with £Nil outstanding at year end (2024 - £Nil).
29. | Post balance sheet events
On 2 May 2025 100% of the company's shares were acquired by Cera Care Operations Holdings Limited.
30. | Controlling party
At the year end date the ultimate controlling party was Mrs D McDowell, through her majority shareholding in Care at Home Services (South East) Limited. Following the acquisition of the company as disclosed in note 29 by Cera Care Operations Holdings Limited, a wholly owned subsidiary of Cera Care Limited (incorporated in England & Wales), Cera Care Limited became the ultimate controlling party.
Page 43