REGISTERED NUMBER: 11686501 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

FOR

ST ALBANS CARE LIMITED

Page

Strategic Report

1

Report of the Directors

2

Report of the Independent Auditors

3

Statement of Income and Retained Earnings

6

Balance Sheet

7

Cash Flow Statement

8

Notes to the Financial Statements

9

The directors present their strategic report for the year ended 30 April 2025.

REVIEW OF BUSINESS

Alban Manor Nursing Home provides accommodation for up to 80 residents in a purpose-built facility in St Albans. Turnover was slightly lower than the prior year at £6.12m (2023-24 £6.19m). The gross profit was £3.57m at a margin of 58% and the net profit after tax was £1.32m. Both were lower than the prior year as expected due to the renewed loan facility.

PRINCIPAL RISKS AND UNCERTAINTIES

The anticipated challenges for the future include national challenges in recruitment to social care and the national living wage rise in 2026. Residents' fees continued to be reviewed annually to manage budgets.

FINANCIAL RISK MANAGEMENT

The company renewed its bank loan facility in May 2024 with a drawdown of £7.4m at an interest rate of 2.15% above the base rate. The directors maintain cash flow forecasts to ensure the company has sufficient funds to pay both the capital and interest. The directors will continue to monitor the rates for any unforeseen events that may result in future increases.

ON BEHALF OF THE BOARD:

R K Greywall - Director

12 January 2026

The directors present their report with the financial statements of the company for the year ended 30 April 2025.

DIVIDENDS

No dividends will be distributed for the year ended 30 April 2025.

DIRECTORS

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

S S Grewal

S S Grewal

P K Grewal

R K Greywall

DISCLOSURE IN THE STRATEGIC REPORT

The company has chosen, in accordance with the Companies Act 2006 s414C(11), to set out in the company's strategic report information required by Schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 to be contained in the directors' report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

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

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

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

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

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

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

ON BEHALF OF THE BOARD:

R K Greywall - Director

12 January 2026

Opinion

We have audited the financial statements of St Albans Care Limited (the 'company') for the year ended 30 April 2025 which comprise the Statement of Income and Retained Earnings, Balance Sheet, Cash Flow Statement and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the 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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

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

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

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

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

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

Auditors' responsibilities for the audit of the financial statements

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

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

Based on our understanding of the company and industry, we considered the risk of non-compliance with laws and regulations, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the financial statements, such as the Companies Act 2006. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to management override, revenue recognition and accounting estimates. Audit procedures performed included:

-

Review of correspondence and reports from the regulatory body;

-

Enquiring of management whether there were any instances of non-compliance with laws and regulation;

-

Review of legal expenses for evidence of fees relating to non-compliance;

-

Substantive testing on revenue cut off to confirm income earned was recognised in the correct period;

-

Challenging assumptions and judgements made by management in determining significant accounting estimates; and

-

Reviewing non-routine journal entries, bank receipts and bank payments.

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

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

Use of our report

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

Colin Young BA FCA (Senior Statutory Auditor)

for and on behalf of Galloways Accounting

Statutory Auditors

15 West Street

Brighton

East Sussex

BN1 2RL

14 January 2026

TURNOVER

3

6,121,239

6,191,727

Cost of sales

(2,550,778

)

(2,536,397

)

GROSS PROFIT

3,570,461

3,655,330

Administrative expenses

(1,465,372

)

(1,379,711

)

2,105,089

2,275,619

Other operating income

4

39,400

80,350

OPERATING PROFIT

6

2,144,489

2,355,969

Interest receivable and similar income

191,059

76,386

2,335,548

2,432,355

Interest payable and similar expenses

7

(477,572

)

(310,871

)

PROFIT BEFORE TAXATION

1,857,976

2,121,484

Tax on profit

8

(528,582

)

(578,525

)

PROFIT FOR THE FINANCIAL YEAR

1,329,394

1,542,959

Retained earnings at beginning of year

4,401,872

2,858,913

RETAINED EARNINGS AT END OF YEAR

5,731,266

4,401,872

FIXED ASSETS

Tangible assets

9

8,994,568

9,211,931

Investment property

10

745,764

745,764

9,740,332

9,957,695

CURRENT ASSETS

Debtors

11

184,699

189,976

Cash at bank and in hand

4,526,578

2,072,935

4,711,277

2,262,911

CREDITORS

Amounts falling due within one year

12

1,856,179

7,719,025

NET CURRENT ASSETS/(LIABILITIES)

2,855,098

(5,456,114

)

TOTAL ASSETS LESS CURRENT LIABILITIES

12,595,430

4,501,581

CREDITORS

Amounts falling due after more than one year

13

(6,770,979

)

-

PROVISIONS FOR LIABILITIES

17

(93,179

)

(99,703

)

NET ASSETS

5,731,272

4,401,878

CAPITAL AND RESERVES

Called up share capital

18

6

6

Retained earnings

5,731,266

4,401,872

SHAREHOLDERS' FUNDS

5,731,272

4,401,878

The financial statements were approved by the Board of Directors and authorised for issue on 12 January 2026 and were signed on its behalf by:

R K Greywall - Director

Cash flows from operating activities

Cash generated from operations

21

2,390,808

2,668,183

Interest paid

(5,713

)

-

Tax paid

(754,192

)

(369,821

)

Net cash from operating activities

1,630,903

2,298,362

Cash flows from investing activities

Purchase of tangible fixed assets

(48,354

)

(107,785

)

Interest received

191,059

76,386

Net cash from investing activities

142,705

(31,399

)

Cash flows from financing activities

New loans in year

7,400,000

-

Loan repayments in year

(4,594,506

)

(263,274

)

Amount introduced by directors

-

354,563

Amount withdrawn by directors

(1,653,600

)

(2,057,963

)

Interest paid

(471,859

)

(310,871

)

Net cash from financing activities

680,035

(2,277,545

)

Increase/(decrease) in cash and cash equivalents

2,453,643

(10,582

)

Cash and cash equivalents at beginning of year

22

2,072,935

2,083,517

Cash and cash equivalents at end of year

22

4,526,578

2,072,935

1.	Statutory information

St Albans Care Limited is a private company, limited by shares, registered in England and Wales. The

company's registered number and registered office address are as below:

Registered number: 11686501

Registered office:

Alban Manor

2 Chene Drive

Off Waverley Road

St Albans

Herts AL3 5QP

The nature of the company's operations and principal activities are the operation of a nursing home.

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

2.	Accounting policies

Basis of preparing the financial statements

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

Critical accounting judgements and key sources of estimation uncertainty

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results.

The estimates and assumptions that have a significant risk of causing a material adjustment relate to the carrying value of the investment property. The estimation of the fair value of the property is based on the open market value of similar properties in the area, which requires management judgement of appropriate benchmarks.

Turnover

Turnover is measured at the fair value of the consideration received or receivable.

Revenue is recognised over the period of a resident's placement on a straight line basis, when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the entity.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

5% on cost and 4% on cost

Fixtures and fittings

-

10% on cost

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Investment property

Investment properties are measured at fair value at each reporting date with changes in fair value recognised in profit or loss.

Financial instruments

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Taxation

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

Current or deferred taxation assets and liabilities are not discounted.

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

Deferred tax

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

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

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

Pension costs and other post-retirement benefits

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

3.

Turnover

An analysis of turnover by category of revenue is given below:

2025

2024

£

£

Rendering of services

6,121,239

6,191,727

4.	Other operating income

2025

2024

£

£

Rents received

39,400

70,350

Government grants

-

10,000

39,400

80,350

Other operating income includes a government grant amounting to £nil (2024: £10,000). This grant was received for the following purposes:

2025

2024

£

£

Data Security & Protection Toolkit

-

10,000

-

10,000

.

5.	Employees and directors

2025

2024

£

£

Wages and salaries

2,586,579

2,567,796

Social security costs

248,247

246,484

Other pension costs

66,245

68,428

2,901,071

2,882,708

The average number of employees during the year was as follows:

2025

2024

Management & Administrative

12

12

Caring, Domestic & Nursing

78

80

90

92

2025

2024

£

£

Directors' remuneration

272,191

277,782

Directors' pension contributions to money purchase schemes

24,220

24,000

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes

2

1

Information regarding the highest paid director is as follows:

2025

2024

£

£

Emoluments etc

189,654

198,978

Pension contributions to money purchase schemes

110

-

6.	Operating profit

The operating profit is stated after charging:

2025

2024

£

£

Depreciation - owned assets

265,717

259,982

Auditors' remuneration

14,520

11,875

7.

Interest payable and similar expenses

2025

2024

£

£

Bank loan interest

471,859

310,871

Corporation tax interest

5,713

-

477,572

310,871

8.

Taxation

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

2025

2024

£

£

Current tax:

UK corporation tax

519,983

568,359

(Over)/under provision in prior year

15,123

(1,160

)

Total current tax

535,106

567,199

Deferred tax

(6,524

)

11,326

Tax on profit

528,582

578,525

UK corporation tax has been charged at 25% (2024 - 25%).

Reconciliation of total tax charge included in profit and loss

The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2025

2024

£

£

Profit before tax

1,857,976

2,121,484

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%)

464,494

530,371

Effects of:

Expenses not deductible for tax purposes

49,413

49,314

Adjustments to tax charge in respect of previous periods

15,123

(1,160

)

Adjustments to deferred tax in respect of previous periods

(448

)

-

Total tax charge

528,582

578,525

9.	Tangible fixed assets

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

COST

At 1 May 2024

9,786,325

665,124

10,451,449

Additions

-

48,354

48,354

At 30 April 2025

9,786,325

713,478

10,499,803

DEPRECIATION

At 1 May 2024

982,318

257,200

1,239,518

Charge for year

196,169

69,548

265,717

At 30 April 2025

1,178,487

326,748

1,505,235

NET BOOK VALUE

At 30 April 2025

8,607,838

386,730

8,994,568

At 30 April 2024

8,804,007

407,924

9,211,931

The freehold property, with a carrying value of £8,607,838 (2024: £8,804,007) has been pledged as security for the bank loan (see note 16).

10.	Investment property

Total

£

FAIR VALUE

At 1 May 2024

and 30 April 2025

745,764

NET BOOK VALUE

At 30 April 2025

745,764

At 30 April 2024

745,764

The fair value of the investment property is estimated by the directors, based on the open market value of similar properties in its location.There was no independent professional valuation. There has been no change in value recognised during the year. The historic cost of the investment property is £745,764.

11.

Debtors: amounts falling due within one year

2025

2024

£

£

Trade debtors

163,396

166,593

Other debtors

13,798

14,548

Prepayments and accrued income

7,505

8,835

184,699

189,976

12.

Creditors: amounts falling due within one year

2025

2024

£

£

Bank loans and overdrafts (see note 14)

312,723

4,278,208

Payments on account

175,671

154,303

Trade creditors

36,140

50,207

Tax

249,274

468,360

Social security and other taxes

56,603

63,237

Other creditors

214,554

214,554

Directors' current accounts

775,063

2,428,663

Accruals and deferred income

36,151

61,493

1,856,179

7,719,025

13.

Creditors: amounts falling due after more than one year

2025

2024

£

£

Bank loans (see note 14)

6,770,979

-

14.

Loans

An analysis of the maturity of loans is given below:

2025

2024

£

£

Amounts falling due within one year or on demand:

Bank loans

312,723

4,278,208

Amounts falling due between two and five years:

Bank loans - 2-5 years

6,770,979

-

The bank loan is repayable by monthly instalments over 5 years at an interest rate of 2.15% over the base rate.

Interest payable during the year on the loan was £471,859 (2024: £310,871).

15.	Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

39,279

48,477

Between one and five years

47,515

28,703

In more than five years

-

1,155

86,794

78,335

16.	Secured debts

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

7,083,702

4,278,208

The bank loan is secured by a legal mortgage of the freehold property, including fixtures and fittings and a cross guarantee and debenture between the company and a company under common control.

17.	Provisions for liabilities

2025

2024

£

£

Deferred tax

Accelerated capital allowances

94,694

99,703

Other timing differences

(1,515

)

-

93,179

99,703

Deferred

tax

£

Balance at 1 May 2024

99,703

Credit to Statement of Comprehensive Income during year

(6,524

)

Balance at 30 April 2025

93,179

The net deferred tax liability expected to reverse in 2025/26 is £17,837 (2024/25; £16,628). This relates to the reversal of timing differences on acquired tangible assets and capital allowances through depreciation.

18.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

6

Ordinary

£1

6

6

The shares have attached to them full voting, dividend and capital distribution (including on winding up) rights.

19.	Pension commitments

The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £66,245 (2024: £68,428).

20.	Related party disclosures

At the year end, the company owed the directors £775,063 (2024: £2,428,663). The loans are interest-free, unsecured and repayable on demand.

During the year, a total of key management personnel compensation of £ 422,084 (2024 - £ 400,692 ) was paid.