Company registration number 13656919 (England and Wales)
ABBOTS CARE HOLDINGS LIMITED CONSOLIDATED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
Faulkner House
Victoria Street
Rayner Essex LLP
St Albans
Chartered Accountants
Hertfordshire
AL1 3SE
ABBOTS CARE HOLDINGS LIMITED CONSOLIDATED
COMPANY INFORMATION
Directors
Mrs C A Leavold
Mr A P Todd
Company number
13656919
Registered office
Units 5 & 6
Phoenix House
63 Campfield Road
St Albans
Hertfordshire
AL1 5FL
Auditor
Rayner Essex LLP
Faulkner House
Victoria Street
St Albans
Hertfordshire
AL1 3SE
ABBOTS CARE HOLDINGS LIMITED CONSOLIDATED
CONTENTS
Page
Strategic report
1 - 3
Directors' report
4 - 5
Independent auditor's report
6 - 9
Profit and loss account
10
Group statement of comprehensive income
11
Group balance sheet
12
Company balance sheet
13
Group statement of changes in equity
14
Company statement of changes in equity
15
Group statement of cash flows
16
Notes to the financial statements
17 - 34
ABBOTS CARE HOLDINGS LIMITED CONSOLIDATED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MAY 2025
- 1 -

The directors present the strategic report for the year ended 31 May 2025.

Business review

Abbots Care Group’s 2024-2025 strategic business review highlights our ongoing commitment to delivering outstanding home care services while navigating sector challenges. Our vision remains to be the employer and provider of choice for home care within the UK. We focus on providing quality services and empowering our customers to live healthier, happier lives in their own homes.

For the year 2024-2025, staff shortages eased due to the recruitment of internationally sponsored care workers under our Home Office Sponsorship Licence. This aligned with the broader sector intake of 160,000 sponsored workers, and increasing applications from UK-based care workers. While growth in the second quarter outpaced new employee hours, requiring coordination to maintain service continuity, recruitment and retention levels stabilised by the final quarter, enabling us to meet rising service demands.

International recruitment was temporarily paused due to changes in government sponsorship policies aimed at addressing illegitimate providers. However, Abbots Care successfully secured additional sponsorship certificates to support future recruitment alongside our prioritisation of recruitment from the UK. The office staff team expanded with 12 additional posts to support growth targets, alongside our continued investment in staff wellbeing and recognition. Our Wellbeing app has enhanced engagement and communication, helping retain and grow our workforce.

Abbots Care remains committed to quality and growth. Adhering to BSI 9001 Total Quality Management standards, we have strengthened our quality management team to drive continuous improvement and maintain high service standards. This year saw significant headcount increases to support quality and growth initiatives.

The home care market continues to expand, driven by growing demand for care at home from both government-funded and private sources. Abbots Care maintains a strong referral pipeline, ensuring ongoing service provision despite sector-wide challenges such as the Employment Rights Bill and Fair Pay Agreement.

ABBOTS CARE HOLDINGS LIMITED CONSOLIDATED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 2 -
Principal risks and uncertainties

The leadership team, led by the CEO, actively reviews a risk register outlining key challenges:

1. Insufficient workforce to ensure planned service delivery and user wellbeing.

2. Reputational risks and safeguarding issues linked to business growth.

3. System failures and cyberattacks.

4. Political risks related to new legislation and funding policies.

Mitigation measures include lobbying for improved government policy, recruitment and retention strategies, workforce engagement initiatives, and adherence to Total Quality Management standards, with compliance monitored through regular audits.

Abbots Care prioritises protecting sensitive client and employee data, supported by a specialist IT partner who provides strategic advice, system reviews, and security updates. The company has implemented robust data protection protocols and staff education programmes to enhance cybersecurity resilience.

Regulatory Compliance

The Care Quality Commission (CQC) has rated one of our subsidiaries, Abbots Care Ltd (Hertfordshire), as outstanding for the third consecutive time following its inspection from June to August 2025. The organisation is certified under the BSI 9001:2015 Total Quality Management standards, with no non-compliance issues reported in the last audit dated October 2025.

Staffing

The organisation acknowledges ongoing labour market challenges, including competition within and outside the care industry. Staff remain central to Abbots Care’s ability to deliver services effectively.

Summary

Abbots Care successfully executed its business plan in 2024-2025, meeting KPIs including quality standards, growth, and cash reserve management. Cash reserves were utilised to address Employer National Insurance Contribution increases, stimulate growth, and expand services. We enter 2025-2026 focused on maintaining the same business model and objectives, ensuring quality-driven growth and user-centred care provision.

Development and performance

The key financial highlights for the group are as follows:

Turnover - £26.9m (2024: £22.5m)

Turnover growth – 19.8% (2024: 37.1%)

Profit before tax - £3.9m (2024: £3.3m)

Current ratio – 6.6:1 (2024: 5.4:1)

Net assets - £11.6m (2024: £8.9m)

The key non-financial highlights for the group are as follows:

Hours of care (thousands) – 1,088 (2024: 910)

No. of care workers (average) – 547 (2024: 492)

The group has performed strongly in their principal activities during the year and the directors are pleased with its performance and position.

ABBOTS CARE HOLDINGS LIMITED CONSOLIDATED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 3 -

On behalf of the board

Mrs C A Leavold
Director
13 January 2026
ABBOTS CARE HOLDINGS LIMITED CONSOLIDATED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MAY 2025
- 4 -

The directors present their annual report and financial statements for the year ended 31 May 2025.

Principal activities

The company is an investment holding company for its subsidiary entities. The principal activity of the group was d omiciliary home care providers including m ainstream h ome c are, l ive-in-care, e xtra c are, c omplex c are, and r eablement c are for l ocal a uthorities, NHS and privately funded customers.

Results and dividends

The results for the year are set out on page 10.

Ordinary dividends were paid amounting to £238,215. The directors do not recommend payment of a further dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mrs C A Leavold
Mr A P Todd
Research and development

The group are working with a software developer to develop a bespoke mobile application for staff engagement.

Disabled persons

Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the group continues and that the appropriate training is arranged. It is the policy of the group that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.

Employee involvement

The group's policy is to consult and discuss with employees, through unions, staff councils and at meetings, matters likely to affect employees' interests.

Information about matters of concern to employees is given through information bulletins and reports which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the group's performance.

There is no employee share scheme at present, but the directors are considering the introduction of such a scheme as a means of further encouraging the involvement of employees in the group's performance.
The company's employees are at the heart of the service it provides. The group has a policy of continuous improvement and consultation with all stakeholders including all employees. Registered with BSI to BSI:9001 Total Quality Management, the company consults with all its stakeholders. The group has a Business Involvement Group with employee representatives who consult and advise on improvement to all functions within the services provided by the group. All employees are consulted quarterly through employee surveys, and the results are shared in a biannual quality report.

Future developments

The group will continue to expand their operations.

The directors continue to review the care sector with a view to continuing growth, identifying opportunities and managing the risks facing the group.

Further details of the groups future developments are outlined in the strategic report.

ABBOTS CARE HOLDINGS LIMITED CONSOLIDATED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 5 -
Auditor

The auditor, Rayner Essex LLP, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement of directors' responsibilities

The directors are responsible for preparing the Annual 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 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 group and company, and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

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

- 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 and company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and 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 group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
Mrs C A Leavold
Director
13 January 2026
ABBOTS CARE HOLDINGS LIMITED CONSOLIDATED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF ABBOTS CARE HOLDINGS LIMITED CONSOLIDATED
- 6 -
Opinion

We have audited the financial statements of Abbots Care Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 May 2025 which comprise the group profit and loss account, the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and 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 the parent company's affairs as at 31 May 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 and parent 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 group's and parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

- T he information given in the strategic report and the directors' r eport 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.

ABBOTS CARE HOLDINGS LIMITED CONSOLIDATED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF ABBOTS CARE HOLDINGS LIMITED CONSOLIDATED
- 7 -
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 their environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the directors' r eport.

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.

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, 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 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 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 financial statements.

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

ABBOTS CARE HOLDINGS LIMITED CONSOLIDATED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF ABBOTS CARE HOLDINGS LIMITED CONSOLIDATED
- 8 -
Extent to which the audit was considered capable of detecting irregularities, including fraud

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.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- we identified the laws and regulations applicable to the limited liability partnership through discussions with the members and other management, and from our commercial knowledge and experience of the sector they operate in;

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the limited liability partnership, including the Companies Act 2006, Care Quality Commission guidelines, taxation legislation and data protection, anti-bribery, employment and GDPR regulations;

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the limited company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- the engagement partner ensuring that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- making enquiries of management as to where they considered there was a susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we;

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- reviewed the meeting minutes during the year and beyond;

- assessed whether judgements and assumptions made in determining the accounting estimates set out in note 2 were indicative of potential bias; and

- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation

- enquiring of management as to actual and potential litigation and claims; and

- reviewing correspondence with HMRC, the CQC and the limited company's management.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limited the audit procedures required to identify non-compliance with laws and regulations to enquiry of the members and other management and inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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

ABBOTS CARE HOLDINGS LIMITED CONSOLIDATED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF ABBOTS CARE HOLDINGS LIMITED CONSOLIDATED
- 9 -

Use of our report

This report is made solely to the parent 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 parent 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 parent company and the parent company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Neil Heyes FCA (Senior Statutory Auditor)
For and on behalf of Rayner Essex LLP, Statutory Auditor
Chartered Accountants
Faulkner House
Victoria Street
St Albans
Hertfordshire
AL1 3SE
19 January 2026
ABBOTS CARE HOLDINGS LIMITED CONSOLIDATED
GROUP PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MAY 2025
- 10 -
2025
2024
Notes
£
£
Turnover
3
26,901,666
22,455,713
Cost of sales
(17,444,100)
(13,873,204)
Gross profit
9,457,566
8,582,509
Administrative expenses
(5,385,361)
(5,274,683)
Exceptional item
4
(226,902)
(82,475)
Operating profit
5
3,845,303
3,225,351
Interest receivable and similar income
8
142,559
27,174
Interest payable and similar expenses
9
(41,573)
-
0
Amounts written off investments
10
-
80,250
Profit before taxation
3,946,289
3,332,775
Tax on profit
11
(985,323)
(840,934)
Profit for the financial year
23
2,960,966
2,491,841
Profit for the financial year is all attributable to the owners of the parent company.
ABBOTS CARE HOLDINGS LIMITED CONSOLIDATED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MAY 2025
- 11 -
2025
2024
£
£
Profit for the year
2,960,966
2,491,841
Other comprehensive income
-
-
Cash flow hedges gain arising in the year
-
0
-
0
Total comprehensive income for the year
2,960,966
2,491,841
Total comprehensive income for the year is all attributable to the owners of the parent company.
ABBOTS CARE HOLDINGS LIMITED CONSOLIDATED
GROUP BALANCE SHEET
AS AT
31 MAY 2025
31 May 2025
- 12 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
13
2,169
6,696
Tangible assets
14
239,895
264,633
Investments
15
800,071
550,071
1,042,135
821,400
Current assets
Debtors falling due after more than one year
18
1,332,174
2,728,962
Debtors falling due within one year
18
7,287,595
4,579,821
Investments
19
2,000,000
1,500,000
Cash at bank and in hand
1,809,279
1,069,477
12,429,048
9,878,260
Creditors: amounts falling due within one year
20
(1,881,561)
(1,832,789)
Net current assets
10,547,487
8,045,471
Net assets
11,589,622
8,866,871
Capital and reserves
Called up share capital
22
32
32
Profit and loss reserves
23
11,589,590
8,866,839
Total equity
11,589,622
8,866,871

These financial statements have been prepared in accordance with the provisions relating to medium-sized groups.

The financial statements were approved by the board of directors and authorised for issue on 13 January 2026 and are signed on its behalf by:
13 January 2026
Mrs C A Leavold
Director
Company registration number 13656919 (England and Wales)
ABBOTS CARE HOLDINGS LIMITED CONSOLIDATED
COMPANY BALANCE SHEET
AS AT 31 MAY 2025
31 May 2025
- 13 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investments
15
32
32
Current assets
Debtors
18
32
32
Creditors: amounts falling due within one year
20
(32)
(32)
Net current assets
-
0
-
0
Net assets
32
32
Capital and reserves
Called up share capital
22
32
32

As permitted by section 408 of the Companies Act 2006, the c ompany has not presented its own profit and loss account and related notes. The c ompany’s profit for the year was £238,215 (2024 - £224,175 profit).

The financial statements were approved by the board of directors and authorised for issue on 13 January 2026 and are signed on its behalf by:
13 January 2026
Mrs C A Leavold
Director
Company registration number 13656919 (England and Wales)
ABBOTS CARE HOLDINGS LIMITED CONSOLIDATED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2025
- 14 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 June 2023
32
6,599,173
6,599,205
Year ended 31 May 2024:
Profit and total comprehensive income
-
2,491,841
2,491,841
Dividends
12
-
(224,175)
(224,175)
Balance at 31 May 2024
32
8,866,839
8,866,871
Year ended 31 May 2025:
Profit and total comprehensive income
-
2,960,966
2,960,966
Dividends
12
-
(238,215)
(238,215)
Balance at 31 May 2025
32
11,589,590
11,589,622
ABBOTS CARE HOLDINGS LIMITED CONSOLIDATED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2025
- 15 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 June 2023
32
-
0
32
Year ended 31 May 2024:
Profit and total comprehensive income for the year
-
224,175
224,175
Dividends
12
-
(224,175)
(224,175)
Balance at 31 May 2024
32
-
0
32
Year ended 31 May 2025:
Profit and total comprehensive income
-
238,215
238,215
Dividends
12
-
(238,215)
(238,215)
Balance at 31 May 2025
32
-
0
32
ABBOTS CARE HOLDINGS LIMITED CONSOLIDATED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MAY 2025
- 16 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
26
4,414,319
265,391
Interest paid
(41,573)
-
0
Income taxes paid
(1,521,927)
(775,000)
Net cash inflow/(outflow) from operating activities
2,850,819
(509,609)
Investing activities
Purchase of tangible fixed assets
(65,076)
(168,444)
Proceeds from disposal of tangible fixed assets
-
37,000
Proceeds from disposal of investments
(750,000)
429,500
Repayment of loans
(1,200,285)
244,805
Interest received
142,559
27,174
Net cash (used in)/generated from investing activities
(1,872,802)
570,035
Financing activities
Dividends paid to equity shareholders
(238,215)
(224,175)
Net cash used in financing activities
(238,215)
(224,175)
Net increase/(decrease) in cash and cash equivalents
739,802
(163,749)
Cash and cash equivalents at beginning of year
1,069,477
1,233,226
Cash and cash equivalents at end of year
1,809,279
1,069,477
ABBOTS CARE HOLDINGS LIMITED CONSOLIDATED
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
- 17 -
1
Accounting policies
Company information

Abbots Care Holdings Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is Units 5 & 6, Phoenix House, 63 Campfield Road, St Albans, Hertfordshire, AL1 5FL.

The group consists of Abbots Care Holdings Limited and all of its subsidiaries.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

The company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements for parent company information presented within the consolidated financial statements:

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

- Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;

- Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

1.2
Business combinations

In the parent company financial statements, t he cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. I nvestments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.

Deferred tax is recognised on differences between the value of assets (other than goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liability is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill or negative goodwill.

ABBOTS CARE HOLDINGS LIMITED CONSOLIDATED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 18 -
1.3
Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company Abbots Care Holdings Limited together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.

All financial statements are made up to 31 May 2025. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the g roup.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.

Entities in which the group holds an interest and which are jointly controlled by the group and one or more other venturers under a contractual arrangement are treated as joint ventures. Entities other than subsidiary undertakings or joint ventures, in which the group has a participating interest and over whose operating and financial policies the group exercises a significant influence, are treated as associates.

Investments in joint ventures and associates are carried in the group balance sheet at cost plus post-acquisition changes in the group’s share of the net assets of the entity, less any impairment in value. The carrying values of investments in joint ventures and associates include acquired goodwill.

If the group’s share of losses in a joint venture or associate equals or exceeds its investment in the joint venture or associate, the group does not recognise further losses unless it has incurred obligations to do so or has made payments on behalf of the joint venture or associate.

Unrealised gains arising from transactions with joint ventures and associates are eliminated to the extent of the group’s interest in the entity.

1.4
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.5
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

The group recognises revenue from the following major sources:

- Provision of home care, live-in-care, extra care, complex care and reablement care for for local authorities, NHS and privately funded care.

Revenue for the provision of care services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recover ed.

ABBOTS CARE HOLDINGS LIMITED CONSOLIDATED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 19 -
1.6
Intangible fixed assets - goodwill

Goodwill and negative goodwill represents the excess of the cost of acquisition of a business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life,

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

Negative goodwill is released to the profit & loss account over its expected useful life. Short life assets are recognised in the year of acquisition in full while long life assets are recognised over 3 years.

1.7
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Mobile application
33% straight line
1.8
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
Over 4 years
Computers
Over 3 years
Motor vehicles
Over 4 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

1.9
Fixed asset investments

Equity in vest ments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

I n the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

ABBOTS CARE HOLDINGS LIMITED CONSOLIDATED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 20 -

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Investments in associates are initially recognised at the transaction price (including transaction costs) and are subsequently adjusted to reflect the g roup’s share of the profit or loss, other comprehensive income and equity of the associate using the equity method. Any difference between the cost of acquisition and the share of the fair value of the net identifiable assets of the associate on acquisition is recognised as goodwill. Any unamortised balance of goodwill is included in the carrying value of the investment in associates.

Losses in excess of the carrying amount of an investment in an associate are recorded as a provision only when the company has incurred legal or constructive obligations or has made payments on behalf of the associate.

In the parent c ompany financial statements, investments in associates are accounted for at cost less impairment.

Entities in which the group has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.10
Impairment of fixed assets

At each reporting period end date, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

ABBOTS CARE HOLDINGS LIMITED CONSOLIDATED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 21 -
1.11
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.12
Financial instruments

The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest m ethod 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. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

ABBOTS CARE HOLDINGS LIMITED CONSOLIDATED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 22 -
Classification of 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 group after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

1.13
Equity instruments

Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

1.14
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

ABBOTS CARE HOLDINGS LIMITED CONSOLIDATED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 23 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.15
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the group is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.16
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

ABBOTS CARE HOLDINGS LIMITED CONSOLIDATED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 24 -
1.17
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease d asset are consumed.

Temporary rent concessions received as a direct consequence of the Covid-19 pandemic, that meet the following conditions are recognised on a systematic basis over the periods that the change in lease payments is intended to compensate:

- the change in lease payments results in revised consideration for the lease that is less than the consideration for the lease immediately preceding the change;

- any reduction in lease payments affects only payments originally due on or before 30 June 2021; and

- there is no significant change to other terms and conditions of the lease.

Government grants comprise amounts received under the Infection Control Fund, Covid Support Claim, Rapid Testing Fund, and under various other covid support schemes including the Coronavirus Job Retention Scheme.

Grant income to be recognised in future periods, includes grants received in relation to capitalised IT equipment which will be recognised in line with the useful life of the equipment.

2
Judgements and key sources of estimation uncertainty

In the application of the group’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Revenue recognition

The percentage completion of services provided by the group is calculated in line with the accounting policy on income recognition, by reference to the costs incurred over the period in which the services are provided.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Trade debtor and accrued sales valuation

Trade debtors and accrued sales are reviewed for indicators of impairment on a line by line basis, and where the estimated recoverable amount is less than the carrying value, an impairment is recognised; and

Other receivables valuation

The recoverability of receivables due from related party debtors, and the requirement for provisions thereon, is based upon an estimate made by management of both the value of the assets held by the undertakings, and its future performance.

ABBOTS CARE HOLDINGS LIMITED CONSOLIDATED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 25 -
3
Turnover and other revenue
2025
2024
£
£
Turnover analysed by class of business
Rendering of services
26,901,666
22,455,713
2025
2024
£
£
Turnover analysed by geographical market
United Kingdom
26,901,666
22,455,713
2025
2024
£
£
Other revenue
Interest income
142,559
27,174
4
Exceptional item
2025
2024
£
£
Expenditure
Impairment of assets
226,902
82,475

The directors ha ve made a provision against a balance in relation to an amount that is no longer considered recoverable from a related party entity following a decision by the related party's management to commence voluntary winding up processes post balance sheet date. The nature of t h e impairment is considered exceptional to the normal course of trading and therefore ha s been disclosed in accordance with FRS 102.5.

5
Operating profit
2025
2024
£
£
Operating profit for the year is stated after charging/(crediting):
Fees payable to the group's auditor for the audit of the group's financial statements
3,500
3,500
Depreciation of owned tangible fixed assets
82,246
84,343
Loss on disposal of tangible fixed assets
7,568
5,000
Amortisation of intangible assets
4,527
12,140
Release of negative goodwill
-
(142,847)
Operating lease charges
236,305
207,793
ABBOTS CARE HOLDINGS LIMITED CONSOLIDATED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 26 -
6
Employees

The average monthly number of persons (including directors) employed by the group and company during the year was:

Group
Company
2025
2024
2025
2024
Number
Number
Number
Number
Care workers
548
492
-
-
Administration & management
83
74
-
-
Total
631
566
0
0

Their aggregate remuneration comprised:

Group
Company
2025
2024
2025
2024
£
£
£
£
Wages and salaries
17,577,644
14,923,411
-
0
-
0
Social security costs
1,815,721
1,387,182
-
-
Pension costs
308,488
367,019
-
0
-
0
19,701,853
16,677,612
-
0
-
0
7
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
484,409
721,223
Company pension contributions to defined contribution schemes
-
4,500
484,409
725,723
Remuneration disclosed above includes the following amounts paid to the highest paid director:
2025
2024
£
£
Remuneration for qualifying services
380,827
364,161
Company pension contributions to defined contribution schemes
-
4,500
8
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
142,559
27,174
ABBOTS CARE HOLDINGS LIMITED CONSOLIDATED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
8
Interest receivable and similar income
(Continued)
- 27 -
2025
2024
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
142,559
27,174
9
Interest payable and similar expenses
2025
2024
£
£
Other finance costs:
Other interest
41,573
-
10
Amounts written off investments
2025
2024
£
£
Gain on disposal of fixed asset investments
-
80,250
11
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
1,061,163
840,934
Adjustments in respect of prior periods
(75,840)
-
0
Total current tax
985,323
840,934

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
3,946,289
3,332,775
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
986,572
833,194
Tax effect of expenses that are not deductible in determining taxable profit
63,799
(3,141)
Permanent capital allowances in excess of depreciation
399
11,467
Under/(over) provided in prior years
(65,447)
(586)
Taxation charge
985,323
840,934
ABBOTS CARE HOLDINGS LIMITED CONSOLIDATED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 28 -
12
Dividends
2025
2024
Recognised as distributions to equity holders:
£
£
Interim paid
238,215
224,175
13
Intangible fixed assets
Group
Mobile application
£
Cost
At 1 June 2024 and 31 May 2025
36,015
Amortisation and impairment
At 1 June 2024
29,319
Amortisation charged for the year
4,527
At 31 May 2025
33,846
Carrying amount
At 31 May 2025
2,169
At 31 May 2024
6,696
The company had no intangible fixed assets at 31 May 2025 or 31 May 2024.

Other intangible assets were consolidated at amortised cost, which was considered to be fair value.

ABBOTS CARE HOLDINGS LIMITED CONSOLIDATED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 29 -
14
Tangible fixed assets
Group
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 June 2024
101,311
99,268
251,580
452,159
Additions
30,032
33,844
1,200
65,076
Disposals
-
0
-
0
(26,370)
(26,370)
At 31 May 2025
131,343
133,112
226,410
490,865
Depreciation and impairment
At 1 June 2024
40,923
70,140
76,463
187,526
Depreciation charged in the year
19,166
20,291
42,789
82,246
Eliminated in respect of disposals
-
0
-
0
(18,802)
(18,802)
At 31 May 2025
60,089
90,431
100,450
250,970
Carrying amount
At 31 May 2025
71,254
42,681
125,960
239,895
At 31 May 2024
60,388
29,128
175,117
264,633
The company had no tangible fixed assets at 31 May 2025 or 31 May 2024.

When the group was formed tangible fixed assets were consolidated at depreciated replacement cost, which was considered to be fair value.

15
Fixed asset investments
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Investments in subsidiaries
16
-
0
-
0
32
32
Unlisted investments
800,071
550,071
-
0
-
0
800,071
550,071
32
32
ABBOTS CARE HOLDINGS LIMITED CONSOLIDATED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
15
Fixed asset investments
(Continued)
- 30 -
Movements in fixed asset investments
Group
Investments
£
Cost or valuation
At 1 June 2024
550,071
250,000
At 31 May 2025
800,071
Carrying amount
At 31 May 2025
800,071
At 31 May 2024
550,071
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 June 2024 and 31 May 2025
32
Carrying amount
At 31 May 2025
32
At 31 May 2024
32
16
Subsidiaries

Details of the company's subsidiaries at 31 May 2025 are as follows:

Name of undertaking
Registered office
Nature of business
Class of
% Held
shares held
Direct
Abbots Care Limited
UK
Care service provider
Ordinary
100.00
Abbots Specialist Care Limited
UK
Care service provider
Ordinary
100.00

All subsidiaries share the same registered office address as the parent company.

The investments in subsidiaries are all stated at cost.

ABBOTS CARE HOLDINGS LIMITED CONSOLIDATED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 31 -
17
Financial instruments
Group
Company
2025
2024
2025
2024
£
£
£
£
Debt instruments measured at amortised cost
7,392,598
6,946,112
n/a
n/a
Equity instruments measured at cost less impairment
800,071
550,071
n/a
n/a
Instruments measured at fair value through profit or loss
2,000,000
1,500,000
-
-
Carrying amount of financial liabilities
Measured at fair value through profit or loss
Measured at amortised cost
1,355,997
1,519,507
n/a
n/a

As permitted by the reduced disclosure framework within FRS 102, the company has taken advantage of the exemption from disclosing the carrying amount of certain classes of financial instruments, denoted by 'n/a' above.

18
Debtors
Group
Company
2025
2024
2025
2024
Amounts falling due within one year:
£
£
£
£
Trade debtors
1,784,080
1,574,869
-
0
-
0
Unpaid share capital
4
4
32
32
Corporation tax recoverable
713,928
-
0
-
0
-
0
Other debtors
2,822,465
1,385,047
-
0
-
0
Prepayments and accrued income
1,967,118
1,619,901
-
0
-
0
7,287,595
4,579,821
32
32
Amounts falling due after more than one year:
Other debtors
1,154,388
2,615,342
-
0
-
0
Prepayments and accrued income
177,786
113,620
-
0
-
0
1,332,174
2,728,962
-
-
Total debtors
8,619,769
7,308,783
32
32
19
Current asset investments
Group
Company
2025
2024
2025
2024
£
£
£
£
Unlisted investments
2,000,000
1,500,000
-
-
ABBOTS CARE HOLDINGS LIMITED CONSOLIDATED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 32 -
20
Creditors: amounts falling due within one year
Group
Company
2025
2024
2025
2024
£
£
£
£
Trade creditors
144,752
83,691
-
0
-
0
Amounts owed to group undertakings
-
0
-
0
32
32
Corporation tax payable
522,286
344,962
-
0
-
0
Other taxation and social security
3,278
(31,680)
-
-
Other creditors
(92,318)
(44,291)
-
0
-
0
Accruals and deferred income
1,303,563
1,480,107
-
0
-
0
1,881,561
1,832,789
32
32
21
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
308,488
367,019

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

22
Share capital
Group and company
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and not fully paid
A Ordinary of £1 each
16
16
16
16
B Ordinary of £1 each
16
16
16
16
32
32
32
32

All classes of Ordinary share capital issued during the period remain unpaid.

23
Profit and loss reserves
Group
Company
2025
2024
2025
2024
£
£
£
£
At the beginning of the year
8,866,839
6,599,173
-
-
Profit for the year
2,960,966
2,491,841
238,215
224,175
Dividends
(238,215)
(224,175)
(238,215)
(224,175)
At the end of the year
11,589,590
8,866,839
-
0
-
ABBOTS CARE HOLDINGS LIMITED CONSOLIDATED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 33 -
24
Operating lease commitments
Lessee

At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Group
Company
2025
2024
2025
2024
£
£
£
£
Within one year
196,486
169,786
-
-
Between two and five years
167,161
311,105
-
-
In over five years
-
47,400
-
-
363,647
528,291
-
-
25
Related party transactions

During the year, the group entered into the following transactions with related parties:

Sales were made to a party subject to common control of £670,262 (2024: £282,341). Expenses have been incurred from a party subject to common control totalled £303,456 (2024: £199,866). In addition, short term, interest free loans have been made to a party. At the reporting date, a net balance of £1,206,984 (2024: £1,303,281) was receivable by the group from the party subject to common control.

Expenses have been incurred from parties subject to common control/directors totalling £15,606 (2024: 14,522). At the balance sheet date a net balance of £494,246 (2024: £3,023) was receivable from the same party.

During the period a subsidiary company granted a joint loan to the directors of the group amounting to £2,582,888 (2024: £2,615,342). The loan was provided interest free and with a repayment period of 6 years.

ABBOTS CARE HOLDINGS LIMITED CONSOLIDATED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 34 -
26
Cash generated from group operations
2025
2024
£
£
Profit after taxation
2,960,966
2,491,841
Adjustments for:
Taxation charged
985,323
840,934
Finance costs
41,573
-
0
Investment income
(142,559)
(27,174)
Loss on disposal of tangible fixed assets
7,568
5,000
Amortisation and impairment of intangible assets
4,527
(130,707)
Depreciation and impairment of tangible fixed assets
82,246
84,343
Gain on sale of investments
-
(80,250)
Movements in working capital:
Decrease/(increase) in debtors
603,227
(3,183,139)
(Decrease)/increase in creditors
(128,552)
264,543
Cash generated from operations
4,414,319
265,391
27
Analysis of changes in net funds - group
1 June 2024
Cash flows
31 May 2025
£
£
£
Cash at bank and in hand
1,069,477
739,802
1,809,279
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