IRIS Accounts Production v25.4.12.37 10366948 Board of Directors Board of Directors 31.12.24 1.1.24 31.12.24 31.12.24 Medium entities These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. holding company. true true false true true false false false true false iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 10366948 2023-12-31 10366948 2024-12-31 10366948 2024-01-01 2024-12-31 10366948 2022-12-31 10366948 2023-01-01 2023-12-31 10366948 2023-12-31 10366948 ns15:EnglandWales 2024-01-01 2024-12-31 10366948 ns14:PoundSterling 2024-01-01 2024-12-31 10366948 ns10:Director1 2024-01-01 2024-12-31 10366948 ns10:Director2 2024-01-01 2024-12-31 10366948 ns10:Consolidated 2024-12-31 10366948 ns10:ConsolidatedGroupCompanyAccounts 2024-01-01 2024-12-31 10366948 ns10:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 10366948 ns10:Consolidated ns10:MediumEntities 2024-01-01 2024-12-31 10366948 ns10:Consolidated ns10:Audited 2024-01-01 2024-12-31 10366948 ns10:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 10366948 ns10:Consolidated 2024-01-01 2024-12-31 10366948 ns10:Consolidated ns10:Medium-sizedCompaniesRegimeForDirectorsReport 2024-01-01 2024-12-31 10366948 ns10:Medium-sizedCompaniesRegimeForAccounts ns10:Consolidated 2024-01-01 2024-12-31 10366948 ns10:FullAccounts 2024-01-01 2024-12-31 10366948 1 2024-01-01 2024-12-31 10366948 ns10:Director3 2024-01-01 2024-12-31 10366948 ns10:Director4 2024-01-01 2024-12-31 10366948 ns10:Director5 2024-01-01 2024-12-31 10366948 ns10:Director6 2024-01-01 2024-12-31 10366948 ns10:Director7 2024-01-01 2024-12-31 10366948 ns10:Director8 2024-01-01 2024-12-31 10366948 ns10:CompanySecretary1 2024-01-01 2024-12-31 10366948 ns10:RegisteredOffice 2024-01-01 2024-12-31 10366948 ns10:Consolidated 2023-01-01 2023-12-31 10366948 ns5:CurrentFinancialInstruments 2024-12-31 10366948 ns5:CurrentFinancialInstruments 2023-12-31 10366948 ns5:ShareCapital 2024-12-31 10366948 ns5:ShareCapital 2023-12-31 10366948 ns5:RetainedEarningsAccumulatedLosses 2024-12-31 10366948 ns5:RetainedEarningsAccumulatedLosses 2023-12-31 10366948 ns5:ShareCapital 2022-12-31 10366948 ns5:RetainedEarningsAccumulatedLosses 2022-12-31 10366948 ns5:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 10366948 ns5:ShareCapital 2023-01-01 2023-12-31 10366948 ns5:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 10366948 ns5:NetGoodwill 2024-01-01 2024-12-31 10366948 ns5:IntangibleAssetsOtherThanGoodwill 2024-01-01 2024-12-31 10366948 ns5:PatentsTrademarksLicencesConcessionsSimilar 2024-01-01 2024-12-31 10366948 ns5:OwnedOrFreeholdAssets ns5:LandBuildings 2024-01-01 2024-12-31 10366948 ns5:LeaseholdImprovements 2024-01-01 2024-12-31 10366948 ns5:PlantMachinery 2024-01-01 2024-12-31 10366948 ns5:FurnitureFittings 2024-01-01 2024-12-31 10366948 ns5:MotorVehicles 2024-01-01 2024-12-31 10366948 ns5:ComputerEquipment 2024-01-01 2024-12-31 10366948 ns5:LandBuildings 2023-12-31 10366948 ns5:LandBuildings 2024-01-01 2024-12-31 10366948 ns5:LandBuildings 2024-12-31 10366948 ns5:LandBuildings 2023-12-31 10366948 ns5:CostValuation 2023-12-31 10366948 ns5:AdditionsToInvestments 2024-12-31 10366948 ns5:CostValuation 2024-12-31 10366948 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-12-31 10366948 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2023-12-31

REGISTERED NUMBER: 10366948 (England and Wales)

GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

CORECARE HOLDINGS LTD

| CORECARE HOLDINGS LTD (REGISTERED NUMBER: 10366948) |

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page |

| Company Information | 1 |

| Group Strategic Report | 2 |

| Report of the Directors | 6 |

| Report of the Independent Auditors | 8 |

| Consolidated Profit and Loss Account | 12 |

| Consolidated Other Comprehensive Income | 13 |

| Consolidated Balance Sheet | 14 |

| Company Balance Sheet | 16 |

| Consolidated Statement of Changes in Equity | 17 |

| Company Statement of Changes in Equity | 18 |

| Consolidated Cash Flow Statement | 19 |

| Notes to the Consolidated Cash Flow Statement | 20 |

| Notes to the Consolidated Financial Statements | 22 |

| CORECARE HOLDINGS LTD |

COMPANY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2024

| DIRECTORS: | Gordon James Hulbert

| John Timothy Hulbert

| Ramsey Mark Hulbert

| Thomas James Hulbert

| George Reuben Hulbert

| Joseph Paul Hulbert

| Tristan Michael Hulbert

| Ralph Edward Hulbert

| SECRETARY: | Ralph Edward Hulbert

| REGISTERED OFFICE: | Rofta House

| Rudgate

| Thorp Arch

| Wetherby

| North Yorkshire

| LS23 7AU

| REGISTERED NUMBER: | 10366948 (England and Wales)

| AUDITORS: | Walter Dawson & Son

| Chartered Accountants

| Unit 4 Beckside Court

| Leyburn Business Park

| Leyburn

| North Yorkshire

| DL8 5QA

| CORECARE HOLDINGS LTD (REGISTERED NUMBER: 10366948) |

GROUP STRATEGIC REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

The directors present their strategic report of the company and the group for the year ended 31 December 2024.

The principal activity of the Company is that of a holding company, with trade being undertaken by its subsidiaries.

The group of companies headed by CoreCare Holding Limited are experts and specialist in providing cutting-edge healthcare equipment and project management services, storage, and logistics across several sectors that include retail, office, leisure and accommodation and the public sector.

| CORECARE HOLDINGS LTD (REGISTERED NUMBER: 10366948) |

GROUP STRATEGIC REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

REVIEW OF BUSINESS

CoreCare Holdings Ltd is the parent company of a group of specialist healthcare and care-sector businesses operating through its wholly owned subsidiaries CoreCare Global Ltd (trading as Vivid Care), Innova Care Concepts Ltd, and Dependall Ltd. The Group's strategy focuses on delivering compliant, high-quality products and services to healthcare providers, supported by strong supplier relationships, operational discipline, and a clear understanding of evolving customer requirements.

The financial year ended 2024 was a challenging period for the Group, with consolidated revenue of £16.6 million and an EBITDA loss of £2.7 million. This included a £4.6 million loss attributable to Dependall, comprising a £4.9 million loss arising from the shutdown of its discontinued operations, partially offset by a £357k profit from continuing activities. These results reflected difficult market conditions across healthcare procurement, continued cost inflation, and strategic changes within certain parts of the business. Despite these pressures, the Group remained operationally resilient and took decisive actions to protect margins, manage risk, and strengthen its long-term strategic focus.

Innova Care Concepts Ltd delivered performance in line with management expectations, generating revenue of £10.7 million and EBITDA of £1,032k. The business maintained focus on its core activities and customer base, benefiting from stable demand within its specialist markets.

CoreCare Global Ltd (t/as Vivid Care) experienced a decline in revenue to £3.2 million yet maintaining a positive EBITDA of £67k, driven primarily by the loss of distribution rights for a core product line and a significant reduction in NHS procurement activity during the year. In response to lower sales volumes, management focused on improving the quality of revenues through tighter pricing discipline and optimisation of product mix. A comprehensive review of the overhead cost base was undertaken, resulting in a restructuring to align costs with current trading levels and improve operational efficiency. The business is actively developing new product partnerships, expanding international opportunities, and strengthening relationships with healthcare providers to diversify revenue streams and drive sustainable growth.

Dependall Ltd incurred an EBITDA loss of £4.5 million as a direct result of the Group's strategic decision to divest the business and exit certain activities. As part of this process, the customer book was sold and associated warehousing sites were closed, resulting in one-off costs associated with the orderly wind-down of operations. These losses are non-recurring in nature and do not reflect the ongoing trading performance or risk profile of the Group's continuing businesses.

POST YEAR-END PERFORMANCE - 2025 YEAR TO DATE

The Group has demonstrated a strong turnaround in 2025, returning to profitable growth through focused operational improvements, cost discipline, and enhanced sales execution. For the 11 months to November 2025, consolidated revenue reached £16.8 million, up £200k from the full year 2024 (£16.6 million, though note the prior period includes 12 months). EBITDA improved dramatically to £2.2 million, compared to a full-year 2024 loss of £2.7 million-a swing of £4.9 million. Excluding Dependall for a like-for-like comparison, core EBITDA rose to £1.9 million from £1.7 million in 2024 (excluding Dependall's loss), an increase of £0.2 million.

This recovery is evident across the year:

- August 2025 YTD (8 months): Revenue £11.3 million, EBITDA £1.2 million (vs. full-year 2024 loss of £2.7 million).

- September 2025 YTD (9 months): Revenue £13.4 million, EBITDA £1.7 million (vs. full-year 2024 loss of £2.7 million).

- October 2025 YTD (10 months): Revenue £15.3 million, EBITDA £1.9 million (vs. full-year 2024 loss of £2.7 million).

- November 2025 YTD (11 months): Revenue £16.8 million, EBITDA £2.2 million (vs. full-year 2024 loss of £2.7 million).

Key drivers of this turnaround include:

| CORECARE HOLDINGS LTD (REGISTERED NUMBER: 10366948) |

GROUP STRATEGIC REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

- Innova Care Concepts: Revenue of £13.0 million YTD, up 21% from 2024 (£10.7 million), with EBITDA of £1.7 million (vs. £1.03 million). Improved revenue recognition on major projects, margin enhancements, and integration of activities contributed to this growth.

- Vivid Care: Revenue of £2.6 million YTD, down 19% from 2024 (£3.2 million), yet maintaining positive EBITDA of £273k (vs. £67k), reflecting better product mix and overhead reductions.

- Dependall: Post-wind-down, the streamlined business delivered revenue of £564k YTD and EBITDA of £316k (vs. loss of £4.5 million), demonstrating successful restructuring.

Marketing efforts have also supported growth, with website-generated leads up 72% in 2025 compared to 2024 averages, driving a stronger order pipeline. The full-year 2025 forecast projects revenue of £18.6 million and EBITDA of £2.5 million, signalling continued momentum into 2026.

PRINCIPAL RISKS AND UNCERTAINTIES

The Board has identified the following principal risks and uncertainties that could impact the Group's performance and achievement of its strategic objectives.

Market Dynamics and Competition

The healthcare and care sectors remain highly competitive, with pricing pressure and changing procurement behaviour, particularly within the public sector. The Group mitigates this risk through a focus on product quality, compliance, service delivery, and the development of differentiated offerings and partnerships.

Dependence on Key Suppliers and Product Lines

Reliance on specific suppliers or product lines presents a risk to continuity of supply and revenue. The Group actively manages this risk by broadening its supplier base, developing alternative product partnerships, and reducing dependency on any single product or distribution arrangement.

Regulatory and Compliance Risk

The Group operates in a regulated environment, and changes in healthcare regulation or compliance requirements could impact operations. Robust compliance processes are in place, and regulatory developments are closely monitored to ensure ongoing adherence to required standards.

Supply Chain Disruption

Global supply chain volatility may affect product availability, lead times, and costs. The Group mitigates this risk through strong supplier relationships, alternative sourcing strategies, and careful inventory management.

Inflation and Cost Pressures

Inflationary pressures, particularly relating to labour, logistics, and energy costs, continue to pose challenges. The Group actively monitors costs and seeks to mitigate impacts through operational efficiencies and pricing strategies where appropriate.

Economic Uncertainty and Public Sector Funding

Fluctuations in healthcare funding and procurement activity may affect demand. The Group continues to monitor market conditions and diversify its customer base to reduce reliance on any single sector.

Workforce and Skills Retention

The ability to attract and retain skilled employees remains important to service delivery and operational effectiveness. The Group focuses on employee engagement, development, and retention to mitigate this risk.

Cybersecurity and Systems Risk

Increased reliance on digital systems exposes the Group to cybersecurity threats. Appropriate IT controls, security measures, and staff awareness training are maintained to protect systems and data.

| CORECARE HOLDINGS LTD (REGISTERED NUMBER: 10366948) |

GROUP STRATEGIC REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

KEY PERFORMANCE INDICATORS

The directors consider the Group's KPIs to be turnover and gross profit. The results for the year ended 31 December 2024 are detail below

The key performance indicators that are used to manage the business are:

| Year ended |  |  | Year ended |

| 31 December 2024 |  |  | 31 December 2023 |

| £'000 |  |  | £'000 |

Turnover |  |  | 16,626 |  |  | 23,584 |

Gross Profit |  |  | 5,130 |  |  | 8,764 |

FUTURE

Under S172 of the Companies Act 2006, the directors have a duty to promote the success of the Group for the benefit of the members as a whole and in doing so have regard to;

- The interest of the Group's employees

- The likely consequences of any decision in the long term

- The need to foster the Group's business relationships and with suppliers and customers

- The need to act fairly between members of the group

- The Group maintaining a reputation for high standards of business conduct

The Directors consider the following areas of key importance in its fulfilment of this duty

Budgeting and Planning

The Group's budget and long-term strategic plans are designed to assess the consequences of decisions made by Directors. The involvement of a wide range of employees across each division on compiling the strategic plans and then these are shared with shareholders for sign off. The group is then held to account in the delivery of these budgets as actual results are reported to shareholders monthly.

Dealing with Suppliers and customers

The group encourages open and honest dealings both internally and externally and regular dialogue is maintained with all key stakeholders.

Maintaining a reputation of high standards

High standards are expected from our people with interaction with stakeholders and the delivery of our services. Our people are trained to deliver expertise in their relevant area and are encouraged to display our values and through regular communications and training.

ON BEHALF OF THE BOARD:

Thomas James Hulbert - Director

6 February 2026

| CORECARE HOLDINGS LTD (REGISTERED NUMBER: 10366948) |

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31 DECEMBER 2024

The directors present their report with the financial statements of the company and the group for the year ended 31 December 2024.

DIVIDENDS

On assessment of the availability of the retained profits,the board approved a motion to distribute dividends in the year amounting to £670,674 (2023: £888,628). The directors do not recommend payment of any final dividends.

DIRECTORS

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

Gordon James Hulbert

John Timothy Hulbert

Ramsey Mark Hulbert

Thomas James Hulbert

George Reuben Hulbert

Joseph Paul Hulbert

Tristan Michael Hulbert

Ralph Edward Hulbert

POLITICAL DONATIONS AND EXPENDITURE

No political donations were paid in either year.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

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

- | select suitable accounting policies 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group 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 group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

| CORECARE HOLDINGS LTD (REGISTERED NUMBER: 10366948) |

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31 DECEMBER 2024

AUDITORS

The auditors, Walter Dawson & Son, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Thomas James Hulbert - Director

6 February 2026

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

CORECARE HOLDINGS LTD

Opinion

We have audited the financial statements of Corecare Holdings Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2024 which comprise the Consolidated Profit and Loss Account, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, 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 group's and of the parent company affairs as at 31 December 2024 and of the group's loss 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 group 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 the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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

Other information

The directors are responsible for the other information. The other information comprises the information in the Group 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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

CORECARE HOLDINGS LTD

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 Group 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 Group 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the 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 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 Statement of Directors' Responsibilities set out on page six, 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 group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

CORECARE HOLDINGS LTD

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:

Our approach to identifying and assessing the risk 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 company through discussion with directors and

other management, and form our commercial knowledge and experience of the sector;

- we focussed on specific laws and regulations which considered may have a direct material effect on the

financial statements or the operations of the company, including the Companies Act 2006, taxation

legislation, data protection, anti-bribery, employment, environmental and health and safety legislation;

- 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 company's financial statements to material misstatement, including

obtaining an understanding of how fraud might occur, by:

- 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 overide of controls, we:

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

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining the accounting estimates set out in

note 2 and where 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;

- reading the minutes of meetings of those charged with governance;

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

- reviewing correspondence with HMRC, relevant regulators including the Health and Safety Executive, and

the company's legal advisors.

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 limit the audit procedures required to identify non-compliance

with laws and regulations to enquiry of the directors and other management and the inspection of

regulatory and legal correspondence, if any.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

CORECARE HOLDINGS LTD

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 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.

John Richard Hall FCA (Senior Statutory Auditor)

for and on behalf of Walter Dawson & Son

Chartered Accountants

Unit 4 Beckside Court

Leyburn Business Park

Leyburn

North Yorkshire

DL8 5QA

6 February 2026

| CORECARE HOLDINGS LTD (REGISTERED NUMBER: 10366948) |

CONSOLIDATED

PROFIT AND LOSS ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2024

| 2024 | 2023 |

| Notes | £ | £ | £ | £ |

TURNOVER | 16,625,670 |  | 23,584,186 |  |

Cost of sales | 11,274,996 |  | 14,819,410 |  |

GROSS PROFIT | 5,350,674 |  | 8,764,776 |  |

Distribution costs | 666,086 |  | 381,459 |  |

Administrative expenses | 3,511,393 |  | 9,427,358 |  |

|  |  | 4,177,479 |  |  |  |  | 9,808,817 |  |

1,173,195 |  | (1,044,041 | ) |

Other operating income | - |  | 232,828 |  |

OPERATING PROFIT/(LOSS) | 4 | 1,173,195 |  | (811,213 | ) |

Cost of fundamental reorg | 5 | 4,574,082 |  | - |  |

(3,400,887 | ) | (811,213 | ) |

Interest receivable and similar income | 30,997 |  | 138,490 |  |

(3,369,890 | ) | (672,723 | ) |

Interest payable and similar expenses | 6 | 20,316 |  | 114,511 |  |

LOSS BEFORE TAXATION | (3,390,206 | ) | (787,234 | ) |

Tax on loss | 7 | (92,756 | ) | (103,196 | ) |

LOSS FOR THE FINANCIAL YEAR | (3,297,450 | ) | (684,038 | ) |

Loss attributable to:

Owners of the parent | (2,829,637 | ) | (564,886 | ) |

Non-controlling interests | (467,813 | ) | (119,152 | ) |

(3,297,450 | ) | (684,038 | ) |

| CORECARE HOLDINGS LTD (REGISTERED NUMBER: 10366948) |

CONSOLIDATED

OTHER COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 DECEMBER 2024

| 2024 |  | 2023

| Notes | £ | £ |

LOSS FOR THE YEAR | (3,297,450 | ) | (684,038 | ) |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | (3,297,450 | ) | (684,038 | ) |

Total comprehensive income attributable to:

Owners of the parent | (2,829,637 | ) | (564,886 | ) |

Non-controlling interests | (467,813 | ) | (119,152 | ) |

(3,297,450 | ) | (684,038 | ) |

| CORECARE HOLDINGS LTD (REGISTERED NUMBER: 10366948) |

CONSOLIDATED BALANCE SHEET

31 DECEMBER 2024

| 2024 | 2023 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 10 | - |  | - |  |

Tangible assets | 11 | 1,915,578 |  | 3,023,482 |  |

Investments | 12 | - |  | - |  |

1,915,578 |  | 3,023,482 |  |

CURRENT ASSETS

Stocks | 13 | 1,448,157 |  | 2,156,501 |  |

Debtors | 14 | 2,471,397 |  | 5,380,168 |  |

Cash at bank and in hand | 1,321,403 |  | 1,663,077 |  |

5,240,957 |  | 9,199,746 |  |

CREDITORS

Amounts falling due within one year | 15 | 3,575,641 |  | 4,444,702 |  |

NET CURRENT ASSETS | 1,665,316 |  | 4,755,044 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 3,580,894 |  | 7,778,526 |  |

CREDITORS

Amounts falling due after more than one year | 16 | (21,253 | ) | (58,012 | ) |

PROVISIONS FOR LIABILITIES | 20 | (65,736 | ) | (146,894 | ) |

NET ASSETS | 3,493,905 |  | 7,573,620 |  |

| CORECARE HOLDINGS LTD (REGISTERED NUMBER: 10366948) |

CONSOLIDATED BALANCE SHEET - continued

31 DECEMBER 2024

| 2024 | 2023 |

| Notes | £ | £ | £ | £ |

CAPITAL AND RESERVES

Called up share capital | 21 | 2,085 |  | 2,085 |  |

Profit and loss account | 3,561,426 |  | 7,061,827 |  |

SHAREHOLDERS' FUNDS | 3,563,511 |  | 7,063,912 |  |

NON-CONTROLLING INTERESTS | (69,606 | ) | 509,708 |  |

TOTAL EQUITY | 3,493,905 |  | 7,573,620 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 6 February 2026 and were signed on its behalf by:

Thomas James Hulbert - Director

Tristan Michael Hulbert - Director

| CORECARE HOLDINGS LTD (REGISTERED NUMBER: 10366948) |

COMPANY BALANCE SHEET

31 DECEMBER 2024

| 2024 | 2023 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 10 | - |  | - |  |

Tangible assets | 11 | 1,267,836 |  | 2,080,036 |  |

Investments | 12 | 1,028 |  | 1,028 |  |

1,268,864 |  | 2,081,064 |  |

CURRENT ASSETS

Stocks | 13 | - |  | 3,000 |  |

Debtors | 14 | 1,113,351 |  | 188,110 |  |

Cash at bank | 1,045,826 |  | 900,883 |  |

2,159,177 |  | 1,091,993 |  |

CREDITORS

Amounts falling due within one year | 15 | 3,330,723 |  | 2,645,713 |  |

NET CURRENT LIABILITIES | (1,171,546 | ) | (1,553,720 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 97,318 |  | 527,344 |  |

CAPITAL AND RESERVES

Called up share capital | 21 | 2,085 |  | 2,085 |  |

Profit and loss account | 95,233 |  | 525,259 |  |

SHAREHOLDERS' FUNDS | 97,318 |  | 527,344 |  |

Company's profit for the financial year | 240,758 |  | 1,136,598 |  |

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 6 February 2026 and were signed on its behalf by:

Thomas James Hulbert - Director

Tristan Michael Hulbert - Director

| CORECARE HOLDINGS LTD (REGISTERED NUMBER: 10366948) |

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2024

| Called up |  | Profit |

| share |  | and loss |  | Non-controlling |  | Total

| capital |  | account |  | Total |  | interests |  | equity

£ | £ | £ | £ | £ |

Balance at 1 January 2023 | 2,075 |  | 8,515,341 |  | 8,517,416 |  | 783,173 |  | 9,300,589 |  |

Changes in equity

Deficit for the year | - |  | (564,886 | ) | (564,886 | ) | (119,152 | ) | (684,038 | ) |

Total comprehensive income | - |  | (564,886 | ) | (564,886 | ) | (119,152 | ) | (684,038 | ) |

Dividends | - |  | (888,628 | ) | (888,628 | ) | (154,313 | ) | (1,042,941 | ) |

Issue of share capital | 10 |  | - |  | 10 |  | - |  | 10 |  |

Balance at 31 December 2023 | 2,085 |  | 7,061,827 |  | 7,063,912 |  | 509,708 |  | 7,573,620 |  |

Changes in equity

Deficit for the year | - |  | (2,829,637 | ) | (2,829,637 | ) | (467,813 | ) | (3,297,450 | ) |

Total comprehensive income | - |  | (2,829,637 | ) | (2,829,637 | ) | (467,813 | ) | (3,297,450 | ) |

Dividends | - |  | (670,764 | ) | (670,764 | ) | (111,501 | ) | (782,265 | ) |

Balance at 31 December 2024 | 2,085 |  | 3,561,426 |  | 3,563,511 |  | (69,606 | ) | 3,493,905 |  |

| CORECARE HOLDINGS LTD (REGISTERED NUMBER: 10366948) |

COMPANY STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2024

| Called up |  | Profit |

| share |  | and loss |  | Total

| capital |  | account |  | equity

£ | £ | £ |

Balance at 1 January 2023 | 2,075 |  | 277,289 |  | 279,364 |  |

Changes in equity

Profit for the year | - |  | 1,136,598 |  | 1,136,598 |  |

Total comprehensive income | - |  | 1,136,598 |  | 1,136,598 |  |

Issue of share capital | 10 |  | - |  | 10 |  |

Dividends | - |  | (888,628 | ) | (888,628 | ) |

Balance at 31 December 2023 | 2,085 |  | 525,259 |  | 527,344 |  |

Changes in equity

Profit for the year | - |  | 240,758 |  | 240,758 |  |

Other comprehensive income | - |  | (20 | ) | (20 | ) |

Total comprehensive income | - |  | 240,738 |  | 240,738 |  |

Dividends | - |  | (670,764 | ) | (670,764 | ) |

Balance at 31 December 2024 | 2,085 |  | 95,233 |  | 97,318 |  |

| CORECARE HOLDINGS LTD (REGISTERED NUMBER: 10366948) |

CONSOLIDATED CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 DECEMBER 2024

| 2024 |  | 2023

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | (1,636,278 | ) | 426,446 |  |

Interest paid | (20,316 | ) | (114,511 | ) |

Tax paid | 24,055 |  | (415,570 | ) |

Net cash from operating activities | (1,632,539 | ) | (103,635 | ) |

Cash flows from investing activities

Purchase of tangible fixed assets | (80,329 | ) | (268,161 | ) |

Sale of tangible fixed assets | 848,309 |  | 56,866 |  |

Sale of fixed asset investments | 169,149 |  | - |  |

Interest received | 30,997 |  | 138,490 |  |

Net cash from investing activities | 968,126 |  | (72,805 | ) |

Cash flows from financing activities

New loans in year | 1,200,000 |  | - |  |

Capital repayments in year | (52,262 | ) | (30,972 | ) |

Amount introduced by directors | 8,230 |  | 973 |  |

Amount withdrawn by directors | (52,183 | ) | (8,230 | ) |

Share issue | - |  | 10 |  |

Equity dividends paid | (670,764 | ) | (888,628 | ) |

Dividends paid to minority interests | (111,501 | ) | (154,313 | ) |

Net cash from financing activities | 321,520 |  | (1,081,160 | ) |

Decrease in cash and cash equivalents | (342,893 | ) | (1,257,600 | ) |

Cash and cash equivalents at beginning of year | 2 | 1,663,077 |  | 2,920,677 |  |

Cash and cash equivalents at end of year | 2 | 1,320,184 |  | 1,663,077 |  |

| CORECARE HOLDINGS LTD (REGISTERED NUMBER: 10366948) |

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 DECEMBER 2024

1. | RECONCILIATION OF LOSS BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

| 2024 |  | 2023

£ | £ |

| Loss before taxation | (3,390,206 | ) | (787,234 | ) |

| Depreciation charges | 244,698 |  | 311,433 |  |

| Profit on disposal of fixed assets | (74,202 | ) | (455 | ) |

| Finance costs | 20,316 |  | 114,511 |  |

| Finance income | (30,997 | ) | (138,490 | ) |

(3,230,391 | ) | (500,235 | ) |

| Decrease in stocks | 708,344 |  | 703,314 |  |

| Decrease in trade and other debtors | 2,937,233 |  | 293,574 |  |

| Decrease in trade and other creditors | (2,051,464 | ) | (70,207 | ) |

| Cash generated from operations | (1,636,278 | ) | 426,446 |  |

2. | CASH AND CASH EQUIVALENTS

| The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

| Year ended 31 December 2024

| 31.12.24 |  | 1.1.24

£ | £ |

| Cash and cash equivalents | 1,321,403 |  | 1,663,077 |  |

| Bank overdrafts | (1,219 | ) | - |  |

1,320,184 |  | 1,663,077 |  |

| Year ended 31 December 2023

| 31.12.23 |  | 1.1.23

£ | £ |

| Cash and cash equivalents | 1,663,077 |  | 2,920,677 |  |

| CORECARE HOLDINGS LTD (REGISTERED NUMBER: 10366948) |

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 DECEMBER 2024

3. | ANALYSIS OF CHANGES IN NET FUNDS/(DEBT)

| At 1.1.24 | Cash flow | At 31.12.24

£ | £ | £ |

| Net cash |

| Cash at bank and in hand | 1,663,077 |  | (341,674 | ) | 1,321,403 |  |

| Bank overdrafts | - |  | (1,219 | ) | (1,219 | ) |

1,663,077 |  | (342,893 | ) | 1,320,184 |  |

| Debt

| Finance leases | (117,249 | ) | 52,262 |  | (64,987 | ) |

| Debts falling due within 1 year | - |  | (1,200,000 | ) | (1,200,000 | ) |

(117,249 | ) | (1,147,738 | ) | (1,264,987 | ) |

| Total | 1,545,828 |  | (1,490,631 | ) | 55,197 |  |

| CORECARE HOLDINGS LTD (REGISTERED NUMBER: 10366948) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1. | STATUTORY INFORMATION

| Corecare Holdings Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

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.

| Basis of consolidation

| The consolidated financial statements comprise the accounts of the parent company and all of its subsidiaries for the year ended 31 December 2021.

| The results of subsidiaries acquired or disposed of during the year are included at the effective date of acquisition or up to its disposal.

| Related party exemption

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

| Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Goodwill

| Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of five years.

| Intangible assets

| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

| Patents and licences are being amortised evenly over their estimated useful life of five years.

| 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 | - | at varying rates on cost

| Improvements to property | - | in accordance with the property lease

| Plant and machinery | - | 33% on reducing balance and 15% on reducing balance

| Fixtures and fittings | - | 15% on reducing balance

| Motor vehicles | - | 25% on reducing balance

| Computer Equipment | - | 33% on reducing balance and 33% on cost

| Freehold property has not been depreciated in the accounts as the directors are of the opinion that the realisable value of the assets is in excess of the valuation of the asset.

| CORECARE HOLDINGS LTD (REGISTERED NUMBER: 10366948) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

2. | ACCOUNTING POLICIES - continued

| Stocks

| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Profit and Loss Account, 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.

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

| Hire purchase and leasing commitments

| Tangible fixed assets acquired under finance leases or hire purchase contracts are capitalised and depreciated in the same manner as other tangible fixed assets. The related obligations, net of future charges, are included in creditors.

| Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the period of the leases. The benefits of lease incentives are recognised in the profit and loss account over the shorter of the lease period and the period to the next rent review at which the rent is expected to be reset to market rates.

| Pension costs and other post-retirement benefits

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

| Income recognition

| Income is recognised when services have been completed and goods have been delivered to customers such that the risks and rewards of ownership have been transferred to them.

| CORECARE HOLDINGS LTD (REGISTERED NUMBER: 10366948) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

3. | EMPLOYEES AND DIRECTORS

| 2024 |  | 2023

£ | £ |

| Wages and salaries | 3,732,626 |  | 4,834,918 |  |

| Other pension costs | 47,329 |  | 62,193 |  |

3,779,955 |  | 4,897,111 |  |

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

| 2024 |  | 2023

| Employees | 101 |  | 137 |  |

| 2024 |  | 2023

£ | £ |

| Directors' remuneration | 70,939 |  | 60,762 |  |

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

| Money purchase schemes | 2 |  | 2 |  |

4. | OPERATING PROFIT/(LOSS)

| The operating profit (2023 - operating loss) is stated after charging/(crediting):

| 2024 |  | 2023

£ | £ |

| Hire of plant and machinery | 99,107 |  | 250,480 |  |

| Depreciation - owned assets | 244,698 |  | 307,934 |  |

| Profit on disposal of fixed assets | (74,202 | ) | (455 | ) |

| Auditors' remuneration | 26,690 |  | 21,075 |  |

| Foreign exchange differences | (40,511 | ) | 24,383 |  |

5. | EXCEPTIONAL ITEMS

| 2024 |  | 2023

£ | £ |

| Cost of fundamental reorg | (4,574,082 | ) | - |  |

6. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 2024 |  | 2023

£ | £ |

| Bank interest | 99 |  | 111,526 |  |

| Bank loan interest | 17,272 |  | 17 |  |

| Other interest | 2,945 |  | 2,968 |  |

20,316 |  | 114,511 |  |

| CORECARE HOLDINGS LTD (REGISTERED NUMBER: 10366948) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

7. | TAXATION

| Analysis of the tax credit

| The tax credit on the loss for the year was as follows:

| 2024 |  | 2023

£ | £ |

| Current tax:

| UK corporation tax | (11,598 | ) | (126,246 | ) |

| Deferred tax | (81,158 | ) | 23,050 |  |

| Tax on loss | (92,756 | ) | (103,196 | ) |

| Reconciliation of total tax credit 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:

| 2024 |  | 2023

£ | £ |

| Loss before tax | (3,390,206 | ) | (787,234 | ) |

| Loss multiplied by the standard rate of corporation tax in the UK of 25 % (2023 - 25 %) | (847,552 | ) | (196,809 | ) |

| Effects of:

| Expenses not deductible for tax purposes | 105,556 |  | - |  |

| Capital allowances in excess of depreciation | (2,889 | ) | - |  |

| Depreciation in excess of capital allowances | - |  | 53,746 |  |

| Utilisation of tax losses | 663,727 |  | 39,867 |  |

| Adjustments to tax charge in respect of previous periods | (11,598 | ) | - |  |

| allowance |

| Total tax credit | (92,756 | ) | (103,196 | ) |

8. | INDIVIDUAL PROFIT AND LOSS ACCOUNT

| As permitted by Section 408 of the Companies Act 2006, the Profit and Loss Account of the parent company is not presented as part of these financial statements.

9. | DIVIDENDS

| 2024 |  | 2023

£ | £ |

| Ordinary shares of 1 each

| Interim | 670,764 |  | 888,628 |  |

| CORECARE HOLDINGS LTD (REGISTERED NUMBER: 10366948) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

10. | INTANGIBLE FIXED ASSETS

| Group

| Patents |

| and |

| Goodwill |  | licences |  | Totals

£ | £ | £ |

| COST

| At 1 January 2024

| and 31 December 2024 | 60,000 |  | 2,600 |  | 62,600 |  |

| AMORTISATION

| At 1 January 2024

| and 31 December 2024 | 60,000 |  | 2,600 |  | 62,600 |  |

| NET BOOK VALUE

| At 31 December 2024 | - |  | - |  | - |  |

| At 31 December 2023 | - |  | - |  | - |  |

11. | TANGIBLE FIXED ASSETS

| Group

| Improvements |

| Freehold |  | to |  | Plant and

| property |  | property |  | machinery

£ | £ | £ |

| COST

| At 1 January 2024 | 2,080,036 |  | 332,118 |  | 528,924 |  |

| Additions | - |  | 63,426 |  | - |  |

| Disposals | (812,200 | ) | (79,984 | ) | (385,960 | ) |

| At 31 December 2024 | 1,267,836 |  | 315,560 |  | 142,964 |  |

| DEPRECIATION

| At 1 January 2024 | - |  | 49,999 |  | 268,500 |  |

| Charge for year | - |  | - |  | 140,678 |  |

| Eliminated on disposal | - |  | (49,999 | ) | (342,634 | ) |

| Charge written back | - |  | - |  | - |  |

| At 31 December 2024 | - |  | - |  | 66,544 |  |

| NET BOOK VALUE

| At 31 December 2024 | 1,267,836 |  | 315,560 |  | 76,420 |  |

| At 31 December 2023 | 2,080,036 |  | 282,119 |  | 260,424 |  |

| CORECARE HOLDINGS LTD (REGISTERED NUMBER: 10366948) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

11. | TANGIBLE FIXED ASSETS - continued

| Group

| Fixtures |

| and |  | Motor |  | Computer |

| fittings |  | vehicles |  | Equipment |  | Totals

£ | £ | £ | £ |

| COST

| At 1 January 2024 | 97,858 |  | 531,935 |  | 344,122 |  | 3,914,993 |  |

| Additions | - |  | - |  | 16,903 |  | 80,329 |  |

| Disposals | - |  | (169,855 | ) | (31,851 | ) | (1,479,850 | ) |

| At 31 December 2024 | 97,858 |  | 362,080 |  | 329,174 |  | 2,515,472 |  |

| DEPRECIATION

| At 1 January 2024 | 43,165 |  | 295,785 |  | 234,062 |  | 891,511 |  |

| Charge for year | 8,195 |  | 73,012 |  | 22,813 |  | 244,698 |  |

| Eliminated on disposal | - |  | (130,104 | ) | (13,857 | ) | (536,594 | ) |

| Charge written back | - |  | 279 |  | - |  | 279 |  |

| At 31 December 2024 | 51,360 |  | 238,972 |  | 243,018 |  | 599,894 |  |

| NET BOOK VALUE

| At 31 December 2024 | 46,498 |  | 123,108 |  | 86,156 |  | 1,915,578 |  |

| At 31 December 2023 | 54,693 |  | 236,150 |  | 110,060 |  | 3,023,482 |  |

| Company

| Freehold

| property

£ |

| COST

| At 1 January 2024 | 2,080,036 |  |

| Disposals | (812,200 | ) |

| At 31 December 2024 | 1,267,836 |  |

| NET BOOK VALUE

| At 31 December 2024 | 1,267,836 |  |

| At 31 December 2023 | 2,080,036 |  |

| CORECARE HOLDINGS LTD (REGISTERED NUMBER: 10366948) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

12. | FIXED ASSET INVESTMENTS

| Company

| Shares in

| group

| undertaking

£ |

| COST

| At 1 January 2024 | 1,028 |  |

| Additions | 422,250 |  |

| At 31 December 2024 | 423,278 |  |

| PROVISIONS

| Provision for year | 422,250 |  |

| At 31 December 2024 | 422,250 |  |

| NET BOOK VALUE

| At 31 December 2024 | 1,028 |  |

| At 31 December 2023 | 1,028 |  |

| The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

| Subsidiaries

| Corecare Global Ltd

| Registered office: Linkside House, Forest Land Head, Harrogate, North Yorkshire, HG2 7TE

| Nature of business: Sale of medical and orthopaedic equipment

| %

| Class of shares: | holding |

| Ordinary A | 100.00 |

2024 | 2023 |

£ | £ |

| Aggregate capital and reserves | 1,338,454 |  | 1,563,488 |  |

| Loss for the year | (225,034 | ) | (503,319 | ) |

| Innova Care Concepts Limited

| Registered office: Rofta House, Rudgate, Thorp Arch/ Wetherby, West Yorkshire, LS23 7QA

| Nature of business: Sale of orthopaedic equipment

| %

| Class of shares: | holding |

| Ordinary A | 87.00 |

2024 | 2023 |

£ | £ |

| Aggregate capital and reserves | 2,530,061 |  | 2,060,806 |  |

| Profit/(loss) for the year | 469,255 |  | (490,041 | ) |

| CORECARE HOLDINGS LTD (REGISTERED NUMBER: 10366948) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

12. | FIXED ASSET INVESTMENTS - continued

| Dependall Ltd

| Registered office: Rofta House, Rudgate, Thorp Arch, Wetherby, North Yorkshire, LS23 7QA

| Nature of business: Sale of medical equipment and warehousing

| %

| Class of shares: | holding |

| Ordinary | 87.00 |

2024 | 2023 |

£ | £ |

| Aggregate capital and reserves | (1,151,070 | ) | 3,423,012 |  |

| Loss for the year | (4,574,082 | ) | (981,588 | ) |

13. | STOCKS

| Group |  | Company |

2024 | 2023 | 2024 | 2023 |

£ | £ | £ | £ |

| Valuation | - |  | 3,000 |  | - |  | 3,000 |  |

| Stocks | 1,448,157 |  | 2,153,501 |  | - |  | - |  |

1,448,157 |  | 2,156,501 |  | - |  | 3,000 |  |

14. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| Group |  | Company |

2024 | 2023 | 2024 | 2023 |

£ | £ | £ | £ |

| Trade debtors | 1,561,750 |  | 2,702,146 |  | - |  | - |  |

| Amounts owed by group undertakings | - |  | - |  | 1,113,351 |  | 188,090 |  |

| Other debtors | 108,115 |  | 811,395 |  | - |  | 20 |  |

| Directors' loan accounts | 28,183 |  | - |  | - |  | - |  |

| VAT | 153,074 |  | 56,336 |  | - |  | - |  |

| Prepayments and accrued income | 620,275 |  | 1,810,291 |  | - |  | - |  |

2,471,397 |  | 5,380,168 |  | 1,113,351 |  | 188,110 |  |

| CORECARE HOLDINGS LTD (REGISTERED NUMBER: 10366948) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

15. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| Group |  | Company |

2024 | 2023 | 2024 | 2023 |

£ | £ | £ | £ |

| Bank loans and overdrafts (see note 17) | 1,219 |  | - |  | - |  | - |  |

| Other loans (see note 17) | 1,200,000 |  | - |  | 1,200,000 |  | - |  |

| Hire purchase contracts (see note 18) | 43,734 |  | 59,237 |  | - |  | - |  |

| Trade creditors | 1,223,270 |  | 2,835,078 |  | 3,347 |  | 6,599 |  |

| Amounts owed to group undertakings | - |  | - |  | 2,065,037 |  | 2,590,880 |  |

| Tax | (91,346 | ) | (103,803 | ) | 25,388 |  | 41,733 |  |

| Social security and other taxes | 94,259 |  | 144,065 |  | - |  | - |  |

| VAT | - |  | - |  | 5,951 |  | 6,501 |  |

| Other creditors | 165,248 |  | 36,044 |  | - |  | - |  |

| No description | - |  | 228 |  | - |  | - |  |

| Directors' loan accounts | 92,893 |  | 108,663 |  | - |  | - |  |

| Accruals and deferred income | 846,364 |  | 1,365,190 |  | 31,000 |  | - |  |

3,575,641 |  | 4,444,702 |  | 3,330,723 |  | 2,645,713 |  |

16. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| Group |

2024 | 2023 |

£ | £ |

| Hire purchase contracts (see note 18) | 21,253 |  | 58,012 |  |

17. | LOANS

| An analysis of the maturity of loans is given below:

| Group |  | Company |

2024 | 2023 | 2024 | 2023 |

£ | £ | £ | £ |

| Amounts falling due within one year or | on demand: |

| Bank overdrafts | 1,219 |  | - |  | - |  | - |  |

| Other loans | 1,200,000 |  | - |  | 1,200,000 |  | - |  |

1,201,219 |  | - |  | 1,200,000 |  | - |  |

| CORECARE HOLDINGS LTD (REGISTERED NUMBER: 10366948) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

18. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Group

| Hire purchase |

| contracts |

2024 | 2023 |

£ | £ |

| Net obligations repayable:

| Within one year | 43,734 |  | 59,237 |  |

| Between one and five years | 21,253 |  | 58,012 |  |

64,987 |  | 117,249 |  |

| Group

| Non-cancellable |

| operating leases |

2024 | 2023 |

£ | £ |

| Within one year | 313,263 |  | 2,406,790 |  |

| Between one and five years | - |  | 2,073,946 |  |

313,263 |  | 4,480,736 |  |

19. | SECURED DEBTS

| The following secured debts are included within creditors:

| Group |

2024 | 2023 |

£ | £ |

| Hire purchase contracts | 64,987 |  | 117,249 |  |

| The obligations under finance leases and hire purchase contracts are secured by a charge on the asset purchased under these agreements.

20. | PROVISIONS FOR LIABILITIES

| Group |

2024 | 2023 |

£ | £ |

| Deferred tax | 65,736 |  | 146,894 |  |

| CORECARE HOLDINGS LTD (REGISTERED NUMBER: 10366948) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

20. | PROVISIONS FOR LIABILITIES - continued

| Group

| Deferred |

| tax |

£ |

| Balance at 1 January 2024 | 146,894 |  |

| Provided during year | (81,158 | ) |

| Balance at 31 December 2024 | 65,736 |  |

21. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: |  | Class: |  |  | Nominal |  |  | 2022 |  |  | 2021 |  |

|  | Value: |  |  | £ |  |  | £ |  |

| 50 |  | Ordinary A |  |  | £1 |  |  | 50 |  |  | 50 |  |

| 250 |  | Ordinary B |  |  | £1 |  |  | 250 |  |  | 250 |  |

| 250 |  | Ordinary C |  |  | £1 |  |  | 250 |  |  | 250 |  |

| 250 |  | Ordinary D |  |  | £1 |  |  | 250 |  |  | 250 |  |

| 250 |  | Ordinary E |  |  | £1 |  |  | 250 |  |  | 250 |  |

| 250 |  | Ordinary F |  |  | £1 |  |  | 250 |  |  | 250 |  |

| 250 |  | Ordinary G |  |  | £1 |  |  | 250 |  |  | 250 |  |

| 250 |  | Ordinary H |  |  | £1 |  |  | 250 |  |  | 250 |  |

| 250 |  | Ordinary I |  |  | £1 |  |  | 250 |  |  | 250 |  |

| 10 |  | Ordinary J |  |  | £1 |  |  | 10 |  |  | 10 |  |

| 15 |  | Ordinary P |  |  | £1 |  |  | 15 |  |  | 15 |  |

| 10 |  | Ordinar y |  | T |  |  | £1 |  |  | 10 |  | 0 |

|  | 2,085 |  |  | 2,075 |  |

| 10 Ordinary T shares of £1 each were allotted and fully paid for cash at par during 2023

| The A, B, C, D, E, F, G, H, and I ordinary shares all hold full voting rights and rank pari passu in all rights on winding up. The J ordinary shares hold no voting rights or rights on winding up. The P ordinary shares hold full voting rights, on winding up the P shares have first preference to the increase in the value of the property.

22. | PENSION COMMITMENTS

| The company operates a defined contribution pension scheme. The assets of the pension scheme are held separately from those of the company in an independently administered fund. The pension cost represents contributions payable by the company to the fund and amounted to £47,329 (2023: £62,193). Contributions totalling £Nil (2023: £Nil) were payable to the fund at the year end and are included in creditors.

| CORECARE HOLDINGS LTD (REGISTERED NUMBER: 10366948) |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

23. | RELATED PARTY DISCLOSURES

| Corecare Global Ltd, Innova Care Concepts Ltd and Dependall Ltd are subsidiaries of Corecare Holdings Ltd.

| Debtors falling due within one year includes the following group balances, Innova Care Concepts Ltd £1,113,051 (2023:£188,090)

| Creditors falling due within one year includes the following group balances, Corecare Global Limited £2,065,037 (2023: £2,590,880)

| Creditors falling due within one year includes the following directors' loans:

|  | 2024 |  |  | 2023 |  |

|  | £ |  |  | £ |  |

| G J Hulbert |  | 25,107 |  |  | 28,877 |  |

| J T Hulbert |  | 67,786 |  |  | 79,786 |  |

|  | 92,893 |  |  | 108,663 |  |