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Registered number: 03353584 WESTMINSTER HOMECARE LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
WESTMINSTER HOMECARE LIMITED COMPANY INFORMATION
Directors | D R McDowell (resigned 2 May 2025)
| D A McDowell (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 | D A McDowell (resigned 2 May 2025) J C Landucci-Harmey (appointed 2 May 2025)
Registered number | 03353584
Registered office | 22 Church Road
| Tunbridge Wells
| Kent
| TN1 1JP
Independent auditor | MHA
| Lyndean House
| 30-32 Albion Place
| Maidstone
| United Kingdom
| ME14 5DZ
Bankers | HSBC Bank Plc
| 584 High Road
| Wembley
| Middlesex
| HA0 2DB
WESTMINSTER HOMECARE LIMITED CONTENTS
| Page
Strategic report | 1 - 3
Directors' report | 4 - 5
Independent auditor's report | 6 - 9
Statement of income and retained earnings | 10
Balance sheet | 11
Notes to the financial statements | 12 - 26
WESTMINSTER HOMECARE LIMITED STRATEGIC REPORT FOR THE YEAR ENDED 30 APRIL 2025
Introduction
The directors present their strategic report of the company for the year ended 30 April 2025. The principal activity of the Company 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 year to 30 April 2025 were: ∙Continued success in employing and retaining overseas sponsored workers using the UKVI Skilled Worker visa channel to help alleviate the shortage of applicants seeking to enter the care sector combined with increasing numbers of carers choosing to seek alternative; and ∙The successful award and mobilisation of an Extra Care Scheme contract, Clement Close. Overall, the Company’s reported turnover for the year increased by 8% from £38.0 million to £41.1 million. Reported gross margin increased from 24.4% to 24.8% while the operating margin increased to 5.95% from 4.34%. Net profit after tax increased from £1,222,877 to £1,893,394. The Company's net assets increased from £13,446,468 as at 30 April 2024 to £15,339,862 as at 30 April 2025.
Principal risks and uncertainties
Competitive & market risks The group is subject to competitive markets which it mitigates with competitive pricing and confidence in the care quality it supplies within the local communities. Exposure to credit, liquidity and cash flow risk The group operates predominantly under contracts with local authorities to provide care within the community. These contracts tend to be for fixed periods of time and the directors are satisfied the group has limited exposure to credit risks as essentially these services are centrally funded and 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. 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. Page 1
WESTMINSTER HOMECARE LIMITED STRATEGIC REPORT (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2025
Directors' statement of compliance with duty to promote the success of the Company
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 Company 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 Company 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 Company'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 Company in the health and social care industry depends on the quality and motivation of its employees and as such the Company 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 Company'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 Company level. The Company'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 Company, customers are both the commissioners of care (e.g. local authorities or NHS) with whom the Company 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 Company has a small number of strategic suppliers who have been selected based on their scale, robustness and ability to meet the Company's requirements. Regular dialogue is maintained with each of these suppliers to ensure a mutually beneficial relationship. Page 2
WESTMINSTER HOMECARE LIMITED 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 Company 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. Maintaining a reputation for high standards of business conduct Ethical business represents a cornerstone of the Company'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 Company 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 Company compliance procedures. The Company 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 Company 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 3
WESTMINSTER HOMECARE 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 Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with 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 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 for the Company'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 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 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 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 £1,822,564 (2024 - £1,222,877). During the year the Company declared and paid dividends amounting to £Nil (2023: £Nil).
Directors
The directors who served during the year were:
D R McDowell (resigned 2 May 2025)
D A McDowell (resigned 2 May 2025)
S S Keshtgar (appointed 2 May 2025, resigned 10 December 2025)
Future developments
The directors intend to continue to grow the business in the coming year through a mixture of organic growth (attracting additional carers to deliver more care hours to existing customers plus winning new contracts) and further acquisitions. Page 4
WESTMINSTER HOMECARE LIMITED DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2025
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'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's auditor is aware of that information.
Matters covered in the 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 Company's principal risks and uncertainties, and engagement with employees including the employment of disabled persons, customers and suppliers. Post balance sheet events On 2 May 2025, 100% of the share capital of the parent undertaking Care At Home Service (South East) Limited was 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 5
WESTMINSTER HOMECARE LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF WESTMINSTER HOMECARE LIMITED
Opinion
We have audited the financial statements of Westminster Homecare Limited (the 'Company') for the year ended 30 April 2025, which comprise the Statement of income and retained earnings, the Balance sheet 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 Company's affairs as at 30 April 2025 and of its profit for the year then ended; ∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and ∙have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the 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 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 6
WESTMINSTER HOMECARE LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF WESTMINSTER HOMECARE 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 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. Page 7
WESTMINSTER HOMECARE LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF WESTMINSTER HOMECARE LIMITED (CONTINUED)
Responsibilities of directors
As explained more fully in the Directors' responsibilities statement set out on page 4, 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: ∙Enquiry of management around actual and potential litigation claims; ∙Enquiry of management 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; and Maintaining risk-awareness and appropriate professional scepticism throughout our other audit work 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 8
WESTMINSTER HOMECARE LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF WESTMINSTER HOMECARE 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 9
WESTMINSTER HOMECARE LIMITED STATEMENT OF INCOME AND RETAINED EARNINGS FOR THE YEAR ENDED 30 APRIL 2025
| 2025 | 2024
Note | £ | £
Turnover | 4 | 41,063,459 | 38,020,939
Cost of sales |  | (30,887,710) | (28,733,614)
Gross profit |  | 10,175,749 | 9,287,325
Administrative expenses |  | (7,734,355) | (7,632,711)
Operating profit | 5 | 2,441,394 | 1,654,614
Interest receivable and similar income | 8 | - | 388
Interest payable and similar expenses | 9 | (13,842) | (7,626)
Profit before tax |  | 2,427,552 | 1,647,376
Tax on profit | 10 | (604,988) | (424,499)
Profit after tax |  | 1,822,564 | 1,222,877
Retained earnings at the beginning of the year |  | 13,196,468 | 11,973,591
Profit for the year |  | 1,822,564 | 1,222,877
Retained earnings at the end of the year |  | 15,019,032 | 13,196,468
There were no recognised gains and losses for 2025 or 2024 other than those included in the statement of income and retained earnings.
The notes on pages 12 to 26 form part of these financial statements.
Page 10
WESTMINSTER HOMECARE LIMITED REGISTERED NUMBER: 03353584 BALANCE SHEET AS AT 30 APRIL 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Intangible assets | 11 |  | 11,524 |  | 80,692
Tangible assets | 12 |  | 103,504 |  | 185,371
Investments | 13 |  | 1,020 |  | 1,020
|  |  | 116,048 |  | 267,083
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 14 | 16,846,305 |  | 15,233,588 |
Cash at bank and in hand | 15 | 3,012,657 |  | 2,444,124 |
|  | 19,858,962 |  | 17,677,712 |
Creditors: amounts falling due within one year | 16 | (4,705,978) |  | (4,498,327) |
Net current assets |  |  | 15,152,984 |  | 13,179,385
Net assets |  |  | 15,269,032 |  | 13,446,468
Capital and reserves |  |  |  |  |
Called up share capital | 18 |  | 250,000 |  | 250,000
Profit and loss account | 19 |  | 15,019,032 |  | 13,196,468
|  |  | 15,269,032 |  | 13,446,468
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 12 to 26 form part of these financial statements. Page 11
WESTMINSTER HOMECARE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
1. | General information
Westminster Homecare Limited is a private company limited by shares registered in England and Wales in the United Kingdom. The company's registered registered office address is 22 Church Road, Tunbridge Wells, Kent, TN1 1JP. The financial statements are presented in sterling which is the functional currency of the company 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 management to exercise judgement in applying the Company's accounting policies (see note 3). The following principal accounting policies have been applied:
| 2.2 | Financial Reporting Standard 102 - reduced disclosure exemptions
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland": ∙the requirements of Section 7 Statement of Cash Flows; ∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d); ∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c); ∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A; ∙the requirements of Section 33 Related Party Disclosures paragraph 33.7. This information is included in the consolidated financial statements of Care at Home Services (South East) Limited as at 30 April 2025 and these financial statements may be obtained from 22 Church Road, Tunbridge Wells, Kent, United Kingdom, TN1 1JP.
| 2.3 | Going concern
The directors have assessed that there are no significant doubts in the company's ability to continue as a going concern. As a result, the financial statements have been prepared on a going concern basis. Page 12
WESTMINSTER HOMECARE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 2.Accounting policies (continued)
| 2.4 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company 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 Company 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 Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
| 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. Page 13
WESTMINSTER HOMECARE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 2.Accounting policies (continued)
| 2.9 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company 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 Company in independently administered funds.
| 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 operates and generates 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; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. 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 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 Statement of income and retained earnings over its useful economic life. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years. Page 14
WESTMINSTER HOMECARE 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, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Motor vehicles | - | 25% | straight line
|  |  |  | Fixtures, fittings and equipment | - | 25% | straight line
|  |  |  | Office equipment | - | 33% | straight line
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 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment.
| 2.14 | 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.
| 2.15 | 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.
| 2.16 | 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. Page 15
WESTMINSTER HOMECARE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 2.Accounting policies (continued)
| 2.17 | 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.
| 2.18 | Financial instruments
The Company 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 Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument. Basic financial assets Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) 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 Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments. Basic financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities. Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments 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 creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially Page 16
WESTMINSTER HOMECARE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 2.Accounting policies (continued)
| 2.18 | Financial instruments (continued)
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.
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 and underlying assumptions 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 one period, or in the period of revision and future periods if the revision affects both current and future periods. Key estimates and judgements are as follows: The amounts recoverable on contract 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. A payroll accrual is also calculated in the same manner as the income accrual above but using payroll cycles. 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 2.10 and 2.11. 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.
4. | Turnover
The whole of the turnover is attributable to the principal activity of the group, being that of home care support services.
| All turnover arose within the United Kingdom.
Page 17
WESTMINSTER HOMECARE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
5. | Operating profit
| The operating profit is stated after charging:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other operating lease rentals | 552,326 | 561,600
6. | Auditor's remuneration
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Fees payable to the Company's auditor and its associates for the audit of the Company's financial statements | 36,837 | 35,507
| The Company has taken advantage of the exemption not to disclose amounts paid for non-audit services as these are disclosed in the consolidated accounts of the parent Company.
7. | Employees
| Staff costs were as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Wages and salaries | 30,479,198 | 29,429,110
| Social security costs | 2,902,323 | 2,271,753
| Cost of defined contribution scheme | 586,123 | 516,399
|  | 33,967,644 | 32,217,262
| The average monthly number of employees, including the directors, during the year was as follows:
|  |  | 2025 | 2024
|  |  | No. | No.
|  | Administration | 127 | 148
|  | Carers and nursing staff | 1,285 | 1,380
|  | Management | 20 | 20
|  |  | 1,432 | 1,548
| In both years the directors were remunerated by the parent undertaking.
Page 18
WESTMINSTER HOMECARE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
8. | Interest receivable
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other interest receivable | - | 388
|  | - | 388
9. | Interest payable and similar expenses
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other interest payable | 13,842 | 7,626
|  | 13,842 | 7,626
10. | Taxation
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Corporation tax |  |
| Current tax on profits for the year | 611,918 | 444,989
| Adjustments in respect of previous periods | 11,510 | -
| Total current tax | 623,428 | 444,989
| Deferred tax |  |
| Origination and reversal of timing differences | (7,026) | (20,490)
| Adjustments in respect of prior periods | (11,414) | -
| Total deferred tax | (18,440) | (20,490)
| Tax on profit | 604,988 | 424,499
Page 19
WESTMINSTER HOMECARE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 10.Taxation (continued)
| Factors affecting tax charge for the year
| The tax assessed for the year is lower 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 | 2,427,552 | 1,647,376
| Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%) | 606,888 | 411,844
| Effects of: |  |
| Capital allowances for year in excess of depreciation | 17,292 | 17,292
| Adjustments to tax charge in respect of prior periods | 11,510 | 925
| Adjustments to tax charge in respect of prior periods - deferred tax | (11,414) | -
| Short-term timing difference leading to an increase (decrease) in taxation | - | (5,466)
| Group relief claimed | (22,749) | -
| Other differences | 3,461 | (96)
| Total tax charge for the year | 604,988 | 424,499
| Factors that may affect future tax charges
There were no factors that may affect future tax charges. Page 20
WESTMINSTER HOMECARE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
11. | Intangible assets
|  | Goodwill
|  | £
| Cost |
| At 1 May 2024 | 9,671,487
| At 30 April 2025 | 9,671,487
| Amortisation |
| At 1 May 2024 | 9,590,795
| Charge for the year on owned assets | 69,168
| At 30 April 2025 | 9,659,963
| Net book value |
| At 30 April 2025 | 11,524
| At 30 April 2024 | 80,692
Page 21
WESTMINSTER HOMECARE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
12. | Tangible fixed assets
|  | Short-term leasehold property | Motor vehicles | Fixtures, fittings and equipment | Office equipment | Total
|  | £ | £ | £ | £ | £
| Cost or valuation |  |  |  |  |
| At 1 May 2024 | 24,290 | 355,726 | 76,837 | 169,544 | 626,397
| Additions | - | - | - | 12,456 | 12,456
| Disposals | - | (2,618) | (62,951) | - | (65,569)
| At 30 April 2025 | 24,290 | 353,108 | 13,886 | 182,000 | 573,284
| Depreciation |  |  |  |  |
| At 1 May 2024 | 24,290 | 257,233 | 70,503 | 89,000 | 441,026
| Charge for the year | - | 68,688 | 2,385 | 23,250 | 94,323
| Disposals | - | (2,618) | (62,951) | - | (65,569)
| At 30 April 2025 | 24,290 | 323,303 | 9,937 | 112,250 | 469,780
| Net book value |  |  |  |  |
| At 30 April 2025 | - | 29,805 | 3,949 | 69,750 | 103,504
| At 30 April 2024 | - | 98,493 | 6,334 | 80,544 | 185,371
13. | Fixed asset investments
|  | Investments in subsidiary companies
|  | £
| Cost or valuation |
| At 1 May 2024 | 1,020
| At 30 April 2025 | 1,020
Page 22
WESTMINSTER HOMECARE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
| Subsidiary undertakings
| The following were subsidiary undertakings of the Company:
| Name | Class of shares | Holding
| National Medicare Limited | Ordinary | 100%
| Independent Living Network East Limited | Ordinary | 100%
| Care In The Home Limited | Ordinary | 100%
| Home Choice Care Limited | Ordinary | 100%
| The registered office of the subsidiary undertakings noted above is 22 Church Road, Tunbridge Wells, Kent, England, TN1 1JP.
14. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 3,411,661 | 3,346,919
| Amounts owed by group undertakings | 12,200,515 | 9,688,402
| Other debtors | 56,431 | 46,447
| Prepayments and accrued income | 1,144,740 | 2,137,302
| Deferred taxation | 32,958 | 14,518
|  | 16,846,305 | 15,233,588
| Amounts owed by group undertakings are unsecured, interest-free, and payable on demand.
15. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 3,012,657 | 2,444,124
| Less: bank overdrafts | (260) | -
|  | 3,012,397 | 2,444,124
Page 23
WESTMINSTER HOMECARE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
16. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank overdrafts | 260 | -
| Trade creditors | 753,356 | 826,391
| Amounts owed to group undertakings | 7,124 | 58,751
| Corporation tax | 293,385 | 424,201
| Other taxation and social security | 540,827 | 453,877
| Other creditors | 2,575,447 | 2,440,407
| Accruals and deferred income | 535,579 | 294,700
|  | 4,705,978 | 4,498,327
| Amounts due to group undertakings are unsecured, interest-free, and payable 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 12), 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.
17. | Deferred taxation
|  | 2025 | 2024
|  | £ | £
| At beginning of year | 14,518 | (5,972)
| Utilised in year | 18,440 | 20,490
| At end of year | 32,958 | 14,518
| The deferred tax asset is made up as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Accelerated capital allowances | 32,958 | 14,518
|  | 32,958 | 14,518
Page 24
WESTMINSTER HOMECARE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
18. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 166,666 (2024 - 166,666) A Ordinary Shares of £1.00 each | 166,666 | 166,666
|  | 83,334 (2024 - 83,334) B Ordinary Shares of £1.00 each | 83,334 | 83,334
|  |  | 250,000 | 250,000
19. | Reserves
Profit and loss account Profit and loss account represents cumulative profits or losses, net of dividends paid and other adjustments.
20. | Pension commitments
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £586,123 (2024 - £516,399). Contributions totalling £Nil (2024 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.
21. | Commitments under operating leases
| At 30 April 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Not later than 1 year | 16,607 | 16,707
| Later than 1 year and not later than 5 years | - | 29,237
|  | 16,607 | 45,944
22. | 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.
Page 25
WESTMINSTER HOMECARE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
23. | Parent undertaking and post balance sheet events
At the year end, the immediate and ultimate parent undertaking, and the parent of both the largest and smallest group for which consolidated accounts are available was Care at Home Services (South East) Limited. The company is registered in England and Wales at 22 Church Road, Tunbridge Wells, Kent, TN1 1JP. 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 Care At Home Services (South East) Limited by Cera Care Operations Holdings Limited on 02 May 2025, the ultimate controlling party became Cera Care Limited (incorporated in England & Wales).
Page 26