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REGISTERED NUMBER: 01229527 (England and Wales)

Fordent Properties Limited

Strategic Report, Director's Report and

Audited Financial Statements for the Period 1 January 2024 to 30 December 2024

| Fordent Properties Limited (Registered number: 01229527) |

Contents of the Financial Statements

for the Period 1 January 2024 to 30 December 2024

Page |

| Company Information | 1 |

| Strategic Report | 2 |

| Director's Report | 4 |

| Report of the Independent Auditors | 6 |

| Income Statement | 10 |

| Other Comprehensive Income | 11 |

| Statement of Financial Position | 12 |

| Statement of Changes in Equity | 13 |

| Notes to the Financial Statements | 14 |

| Fordent Properties Limited |

Company Information

for the Period 1 January 2024 to 30 December 2024

| Director: | T K Ogunleye

| Registered office: | 23 Marsham Way

| Gerrards Cross

| Bucks

| SL9 8AB

| Registered number: | 01229527 (England and Wales)

| Auditors: | Barlow Andrews LLP, Statutory Auditor

| Carlyle House

| 78 Chorley New Road

| Bolton

| Fordent Properties Limited (Registered number: 01229527) |

Strategic Report

for the Period 1 January 2024 to 30 December 2024

The director presents his strategic report for the period 1 January 2024 to 30 December 2024.

Our purpose and principal activity

The principal activity of the company continued to be that of a care home. Our purpose is to provide an exceptional quality of care level that we would want for our loved ones.

Our mission

To ensure high-quality, person-centred care while maintaining financial sustainability, regulatory compliance, and a positive reputation. The strategy focuses on improving care quality, workforce stability, operational efficiency, and long-term growth.

Fair review of business

The turnover of the business has reduced in the current year, although profit before taxation has increased. The balance sheet remains strong, and we have adequate cash resources.

Principal risks and uncertainties

The director believes the key business risk to be the level of funding provided by the councils compared to the increase in costs required to ensure the requisite level of care continues to be provided. The company will not compromise on quality and will continue to ensure that rising costs do not impact the quality of the provision of care.

The continued challenge of workforce, including costly recruitment and a prolonged national shortage of appropriately qualified care staff is always at the forefront of the management of the home. The company has been, and is keeping a close watch on these matters and management are looking to mitigate any increased costs, which has proven to be a successful strategy during the year.

The company has no significant external finance and with net current assets being £403,162 there is little overall risk in regards to the liquidity concerns and interest rate movements.

| Fordent Properties Limited (Registered number: 01229527) |

Strategic Report

for the Period 1 January 2024 to 30 December 2024

Other information and future developments

The company's key financial performance indicators are those that communicate the financial performance of the company, these being turnover and gross profit margin.

Turnover in 2024 was £6,242,775 (2023: £6,420,392) Gross profit margin in 2024 was 35.13% (2023: 30%)

The company plans to continue investing time, money and resources in staff, training and operational systems, with a continued focus on delivering high-quality person centred, specialist care and support.

We are satisfied with the trading results but are mindful of keeping our focus on the coming year's activities.

On behalf of the board:

T K Ogunleye - Director

2 February 2026

| Fordent Properties Limited (Registered number: 01229527) |

Director's Report

for the Period 1 January 2024 to 30 December 2024

The director presents his report with the financial statements of the company for the period 1 January 2024 to 30 December 2024.

Dividends

No interim dividend was paid during the period. The director recommends a final dividend of 1,057,797 per share.

The total distribution of dividends for the period ended 30 December 2024 will be £ 1,057,797 .

Director

T K Ogunleye held office during the whole of the period from 1 January 2024 to the date of this report.

Statement of director's responsibilities

The director is responsible for preparing the Strategic Report, the Director's Report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is 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 director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement as to disclosure of information to auditors

So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he 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 company's auditors are aware of that information.

| Fordent Properties Limited (Registered number: 01229527) |

Director's Report

for the Period 1 January 2024 to 30 December 2024

Auditors

Barlow Andrews LLP were appointed as auditor to the company during the period.

A resolution to appoint AAB Audit & Accountancy Limited as auditor of the company will be proposed at the next general meeting.

On behalf of the board:

T K Ogunleye - Director

2 February 2026

Report of the Independent Auditors to the Member of

Fordent Properties Limited

Qualified opinion

We have audited the financial statements of Fordent Properties Limited (the 'company') for the period ended 30 December 2024 which comprise the income statement, the statement of Financial Position 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, except for the possible effects of the matter described in the basis for qualified opinion section of our report, the financial statements:

- give a true and fair view of the state of the company's affairs as at 30 December 2024 and of its profit for the period 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 qualified opinion

The company's freehold property is carried in the financial statements at a revalued amount of £6,672,727. The property was last revalued by an independent valuer in October 2016. In accordance with FRS 102, Section 17 'Property, Plant and Equipment' revalued assets should be carried at their fair value at the reporting date, with valuations performed with sufficient regularity to ensure that the carrying amount does not differ materially from the fair value.

No updated valuation has been obtained since 2016, and we were unable to satisfy ourselves by other audit procedures as to whether the carrying value of property is materially misstated. Accordingly, the value of property, the related revaluation reserve, depreciation and any associated deferred tax may be misstated.

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the 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 qualified opinion.

Conclusions relating to going concern

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

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

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

Report of the Independent Auditors to the Member of

Fordent Properties Limited

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 director is 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, however, we draw your attention to the basis for qualified opinion section of this report.

Opinions on other matters prescribed by the Companies Act 2006

Except for the possible effects of the matter described in the basis for qualified opinion section of our report, in our opinion, based on the work undertaken in the course of our audit:

- the information given in the director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the director's report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In respect solely of the limitation on our work relating to freehold property, described above:

- we have not obtained all the information and explanations that we considered necessary for the purpose of our audit; and

- we were unable to determine whether adequate accounting records had been maintained.

Except for the matter described in the basis for qualified opinion section of our report, in the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the director's report.

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

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

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

- certain disclosures of director's remuneration specified by law are not made.

Responsibilities of director

As explained more fully in the director's responsibilities statement, the director is 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 director determines 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 director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Report of the Independent Auditors to the Member of

Fordent Properties Limited

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:

- 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 discussions with the director and other management, and from our commercial knowledge and experience;

- 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 company, including the Companies Act 2006, taxation legislation and health and safety legislation;

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

- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias.

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; and

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

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.

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.

Report of the Independent Auditors to the Member of

Fordent Properties Limited

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at https://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 member 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 member 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 member for our audit work, for this report, or for the opinions we have formed.

Alison Cornes (Senior Statutory Auditor)

for and on behalf of Barlow Andrews LLP, Statutory Auditor

Carlyle House

78 Chorley New Road

Bolton

2 February 2026

| Fordent Properties Limited (Registered number: 01229527) |

Income Statement

for the Period 1 January 2024 to 30 December 2024

| Period |

| 1.1.24 |

| to |  | Year Ended

| 30.12.24 |  | 31.12.23

| as | restated |

| Notes | £ | £ |

Turnover | 6,242,775 |  | 6,420,392 |  |

Cost of sales | (4,049,580 | ) | (4,492,692 | ) |

Gross profit | 2,193,195 |  | 1,927,700 |  |

Administrative expenses | (830,693 | ) | (796,221 | ) |

1,362,502 |  | 1,131,479 |  |

Other operating income | 38,497 |  | 59,858 |  |

Operating profit | 5 | 1,400,999 |  | 1,191,337 |  |

Interest payable and similar expenses | 7 | (248,081 | ) | (266,119 | ) |

Profit before taxation | 1,152,918 |  | 925,218 |  |

Tax on profit | 8 | (290,571 | ) | (219,440 | ) |

Profit for the financial period | 862,347 |  | 705,778 |  |

| Fordent Properties Limited (Registered number: 01229527) |

Other Comprehensive Income

for the Period 1 January 2024 to 30 December 2024

| Period |

| 1.1.24 |

| to |  | Year Ended

| 30.12.24 |  | 31.12.23

| as | restated |

| Notes | £ | £ |

Profit for the period | 862,347 |  | 705,778 |  |

Other comprehensive income |

Recovery of loan previously written off | 30,000 |  | - |  |

Income tax relating to other comprehensive income | - |  | - |  |

Other comprehensive income for the period, net of income tax | 30,000 |  | - |  |

Total comprehensive income for the period | 892,347 |  | 705,778 |  |

| Fordent Properties Limited (Registered number: 01229527) |

Statement of Financial Position

30 December 2024

| 2024 | 2023 |

| as restated |

| Notes | £ | £ | £ | £ |

Fixed assets

Tangible assets | 11 | 6,693,835 |  | 6,725,780 |  |

Current assets

Stocks | 12 | 3,150 |  | 3,150 |  |

Debtors | 13 | 409,736 |  | 660,287 |  |

Cash at bank and in hand | 923,154 |  | 823,313 |  |

1,336,040 |  | 1,486,750 |  |

Creditors

Amounts falling due within one year | 14 | 932,878 |  | 944,761 |  |

Net current assets | 403,162 |  | 541,989 |  |

Total assets less current liabilities | 7,096,997 |  | 7,267,769 |  |

Creditors

Amounts falling due after more than one year | 15 | - |  | (2,773 | ) |

Provisions for liabilities | 17 | (1,233,553 | ) | (1,236,102 | ) |

Net assets | 5,863,444 |  | 6,028,894 |  |

Capital and reserves

Called up share capital | 18 | 100 |  | 100 |  |

Revaluation reserve | 19 | 4,359,000 |  | 4,377,182 |  |

Retained earnings | 19 | 1,504,344 |  | 1,651,612 |  |

Shareholders' funds | 5,863,444 |  | 6,028,894 |  |

The financial statements were approved by the director and authorised for issue on 2 February 2026 and were signed by:

T K Ogunleye - Director

| Fordent Properties Limited (Registered number: 01229527) |

Statement of Changes in Equity

for the Period 1 January 2024 to 30 December 2024

| Called up |

| share |  | Retained |  | Revaluation |  | Total

| capital |  | earnings |  | reserve |  | equity

£ | £ | £ | £ |

Balance at 1 January 2023 | 100 |  | 1,560,938 |  | 4,395,364 |  | 5,956,402 |  |

Changes in equity

Dividends | - |  | (633,286 | ) | - |  | (633,286 | ) |

Total comprehensive income | - |  | 723,960 |  | (18,182 | ) | 705,778 |  |

Balance at 31 December 2023 | 100 |  | 1,651,612 |  | 4,377,182 |  | 6,028,894 |  |

Changes in equity

Dividends | - |  | (1,057,797 | ) | - |  | (1,057,797 | ) |

Total comprehensive income | - |  | 910,529 |  | (18,182 | ) | 892,347 |  |

Balance at 30 December 2024 | 100 |  | 1,504,344 |  | 4,359,000 |  | 5,863,444 |  |

| Fordent Properties Limited (Registered number: 01229527) |

Notes to the Financial Statements

for the Period 1 January 2024 to 30 December 2024

1. | Statutory information

| Fordent Properties Limited 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 Company Information page.

2. | Accounting policies

| Basis of preparing the financial statements

| This 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:

| - 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 statements, 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, for cash-settled share-based payments, explanation of modifications to arrangements;

| - Section 33 'Related Party Disclosures': Compensation for key management personnel.

| The financial statements of the company are consolidated in the financial statements of Zion Care Limited. These consolidated financial statements are available from its registered office, 23 Marsham Way, Gerrads Cross, SL9 8AB.

| Financial Reporting Standard 102 - reduced disclosure exemptions

| The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

| • | the requirements of Section 7 Statement of Cash Flows;

| • | the requirement of paragraph 3.17(d);

| • | the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

| • | the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;

| • | the requirements of paragraphs 26.18(b), 26.19 to 26.21 and 26.23;

| • | the requirements of paragraphs 29.28(b) and 29.29;

| • | the requirement of paragraph 33.7;

| • | the requirements of paragraph 24(b) of IFRS 6.

| Turnover

| Revenue from contracts for the provision of services is recognised by reference to the delivery of care to the home residents.

| Income which is invoiced in advance or arrears is apportioned so that only that relating to the period of the financial statements is included in turnover.

| Fordent Properties Limited (Registered number: 01229527) |

Notes to the Financial Statements - continued

for the Period 1 January 2024 to 30 December 2024

2. | Accounting policies - continued

| Tangible fixed assets

| 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:

| Freehold property - 2% Straight Line

| Plant and machinery - 20% straight line

| Fixtures and fittings - 10% Straight Line

| Motor vehicles - 25% on reducing balance

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

| Financial instruments

| The company only enters into basic financial instruments that result in the recognition of the financial assets and liabilities such as trade and other debtors and creditors. These are measured at amortised cost and assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings.

| Taxation

| The taxation expense represents the aggregate amount of current tax recognised in the reporting period . Tax is recognised in the statement of income and retained earnings. Current tax is recognised on taxable profit for the current period.

| Current tax is measured at the amounts of tax expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period end and that are expected to apply to the reversal of the timing difference.

| Hire purchase and leasing commitments

| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

| Pension costs and other post-retirement benefits

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

| Fordent Properties Limited (Registered number: 01229527) |

Notes to the Financial Statements - continued

for the Period 1 January 2024 to 30 December 2024

2. | Accounting policies - continued

| Employee benefits

| The costs of short-term employee benefits are recognised as a liability and an expense.

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

| Going concern

| The director is confident that the company will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements and therefore have prepared the financial statements on the going concern basis.

3. | Key accounting judgements and key sources of estimation uncertainty

| In the application of the company'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 to 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.

| Freehold land and buildings

| The fair value of the company's property has been arrived at on the basis of a valuation carried out by the director at the year end, based on a previous third party valuation.

| Depreciation on the property is calculated to write down the revalued amount to its estimated residual value over its useful economic life. The residual value is based on management’s estimate of the property’s value at the end of its useful life, taking into account its location and condition.

4. | Employees and directors

| Period |

| 1.1.24 |

| to | Year Ended

| 30.12.24 |  | 31.12.23

| as | restated |

£ | £ |

| Wages and salaries | 3,772,320 |  | 4,225,543 |  |

| Other pension costs | 54,601 |  | 51,617 |  |

3,826,921 |  | 4,277,160 |  |

| Fordent Properties Limited (Registered number: 01229527) |

Notes to the Financial Statements - continued

for the Period 1 January 2024 to 30 December 2024

4. | Employees and directors - continued

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

| Period |

| 1.1.24 |

| to | Year Ended

| 30.12.24 |  | 31.12.23

| as | restated |

| Nursing Staff | 128 |  | 120 |  |

| Administration and Support | 4 |  | 4 |  |

| Key Management | 4 |  | 4 |  |

136 |  | 128 |  |

| Period |

| 1.1.24 |

| to | Year Ended

| 30.12.24 |  | 31.12.23

| as | restated |

£ | £ |

| Director's remuneration | - |  | - |  |

| Wages and Salaries include Agency costs of £248,319 (2003 - £233,892) and social security costs of £279,460 (2023 - £273,401).

5. | Operating profit

| The operating profit is stated after charging:

| Period |

| 1.1.24 |

| to | Year Ended

| 30.12.24 |  | 31.12.23

| as | restated |

£ | £ |

| Hire of plant and machinery | 6,912 |  | 6,912 |  |

| Depreciation - owned assets | 31,945 |  | 32,586 |  |

| Fordent Properties Limited (Registered number: 01229527) |

Notes to the Financial Statements - continued

for the Period 1 January 2024 to 30 December 2024

6. | Auditors' remuneration

| Period |

| 1.1.24 |

| to | Year Ended

| 30.12.24 |  | 31.12.23

| as | restated |

£ | £ |

| Fees payable to the company's auditors for the audit of the company's financial statements | 9,000 |  | 7,920 |  |

7. | Interest payable and similar expenses |

| Period |

| 1.1.24 |

| to | Year Ended

| 30.12.24 |  | 31.12.23

| as | restated |

£ | £ |

| Bank loan interest | 247,784 |  | 265,822 |  |

| Hire purchase | 297 |  | 297 |  |

248,081 |  | 266,119 |  |

| Included in bank loan interest is interest of £247,784 (2023 - £265,822) recharged from the parent company to cover interest on the consolidated loans

8. | Taxation

| Analysis of the tax charge

| The tax charge on the profit for the period was as follows:

| Period |

| 1.1.24 |

| to | Year Ended

| 30.12.24 |  | 31.12.23

| as | restated |

£ | £ |

| Current tax:

| UK corporation tax | 293,120 |  | 221,952 |  |

| Deferred tax | (2,549 | ) | (2,512 | ) |

| Tax on profit | 290,571 |  | 219,440 |  |

| UK corporation tax has been charged at 25% .

| Fordent Properties Limited (Registered number: 01229527) |

Notes to the Financial Statements - continued

for the Period 1 January 2024 to 30 December 2024

8. | Taxation - continued

| Reconciliation of total tax charge included in profit and loss

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

| Period |

| 1.1.24 |

| to | Year Ended

| 30.12.24 |  | 31.12.23

| as | restated |

£ | £ |

| Profit before tax | 1,152,918 |  | 925,218 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25% (2023 - 23.520%) | 288,230 |  | 217,611 |  |

| Effects of:

| Depreciation in excess of capital allowances | 4,890 |  | 4,341 |  |

| Movements in deferred tax provisions | (2,549 | ) | (2,512 | ) |

| Total tax charge | 290,571 |  | 219,440 |  |

| Tax effects relating to effects of other comprehensive income |

| 1.1.24 to 30.12.24 |

| Gross |  | Tax |  | Net |

£ | £ | £ |

| Recovery of loan previously written off | 30,000 |  | - |  | 30,000 |  |

9. | Dividends

| Period |

| 1.1.24 |

| to | Year Ended

| 30.12.24 |  | 31.12.23

| as | restated |

£ | £ |

| Ordinary shares shares of 1 each

| Final | 1,057,797 |  | 633,286 |  |

| Fordent Properties Limited (Registered number: 01229527) |

Notes to the Financial Statements - continued

for the Period 1 January 2024 to 30 December 2024

10. | Prior year adjustment

| In the prior year, £4,277,160 of direct costs were presented as part of administration expenses. A restatement has been undertaken to correctly disclose these expenses, increasing direct costs by £4,277,160 and decreasing administrative expenses by the same amount.

| In addition, A further adjustment relates to net wages of £224,092 which had been included within social security and other taxes but have now been reallocated to accruals.

| These adjustments has had no overall impact on profit or shareholder's funds

11. | Tangible fixed assets

| Fixtures |

| Freehold |  | Plant and |  | and |  | Motor |

| property |  | machinery |  | fittings |  | vehicles |  | Totals

£ | £ | £ | £ | £ |

| Cost or valuation

| At 1 January 2024 |

| and 30 December 2024 | 6,800,000 |  | 44,641 |  | 100,542 |  | 29,064 |  | 6,974,247 |  |

| Depreciation

| At 1 January 2024 | 109,091 |  | 28,744 |  | 89,231 |  | 21,401 |  | 248,467 |  |

| Charge for period | 18,182 |  | 7,948 |  | 3,900 |  | 1,915 |  | 31,945 |  |

| At 30 December 2024 | 127,273 |  | 36,692 |  | 93,131 |  | 23,316 |  | 280,412 |  |

| Net book value

| At 30 December 2024 | 6,672,727 |  | 7,949 |  | 7,411 |  | 5,748 |  | 6,693,835 |  |

| At 31 December 2023 | 6,690,909 |  | 15,897 |  | 11,311 |  | 7,663 |  | 6,725,780 |  |

| Cost or valuation at 30 December 2024 is represented by:

| Fixtures |

| Freehold |  | Plant and |  | and |  | Motor |

| property |  | machinery |  | fittings |  | vehicles |  | Totals

£ | £ | £ | £ | £ |

| Valuation in 2016 | 6,800,000 |  | - |  | - |  | - |  | 6,800,000 |  |

| Cost | - |  | 44,641 |  | 100,542 |  | 29,064 |  | 174,247 |  |

6,800,000 |  | 44,641 |  | 100,542 |  | 29,064 |  | 6,974,247 |  |

| Fordent Properties Limited (Registered number: 01229527) |

Notes to the Financial Statements - continued

for the Period 1 January 2024 to 30 December 2024

11. | Tangible fixed assets - continued

| If the freehold property had not been revalued it would have been included at the following historical cost:

2024 | 2023 |

| as | restated |

£ | £ |

| Cost | 1,416,426 |  | 1,416,426 |  |

| Aggregate depreciation | 462,312 |  | 444,130 |  |

| Value of land in freehold land and buildings | 954,114 |  | 972,296 |  |

| The freehold property was valued on an open market basis on 20 October 2016 by Knight Frank LLP .

12. | Stocks

2024 | 2023 |

| as | restated |

£ | £ |

| Stocks | 3,150 |  | 3,150 |  |

13. | Debtors: amounts falling due within one year |

2024 | 2023 |

| as | restated |

£ | £ |

| Trade debtors | 334,462 |  | 617,989 |  |

| Amounts owed by group undertakings | 32,017 |  | - |  |

| Other debtors | 109 |  | 469 |  |

| Prepayments | 43,148 |  | 41,829 |  |

409,736 |  | 660,287 |  |

| Fordent Properties Limited (Registered number: 01229527) |

Notes to the Financial Statements - continued

for the Period 1 January 2024 to 30 December 2024

14. | Creditors: amounts falling due within one year |

2024 | 2023 |

| as | restated |

£ | £ |

| Hire purchase contracts (see note 16) | 2,773 |  | 4,225 |  |

| Trade creditors | 98,254 |  | 99,627 |  |

| Amounts owed to group undertakings | - |  | 108,571 |  |

| Tax | 293,120 |  | 290,079 |  |

| Social security and other taxes | 124,211 |  | 126,473 |  |

| Other creditors | 301,508 |  | 230,316 |  |

| Pension Control | 25,307 |  | 26,072 |  |

| Accrued expenses | 87,705 |  | 59,398 |  |

932,878 |  | 944,761 |  |

15. | Creditors: amounts falling due after more than one year |

2024 | 2023 |

| as | restated |

£ | £ |

| Hire purchase contracts (see note 16) | - |  | 2,773 |  |

16. | Leasing agreements

| Minimum lease payments under hire purchase fall due as follows:

2024 | 2023 |

| as | restated |

£ | £ |

| Net obligations repayable:

| Within one year | 2,773 |  | 4,225 |  |

| Between one and five years | - |  | 2,773 |  |

2,773 |  | 6,998 |  |

17. | Provisions for liabilities

2024 | 2023 |

| as | restated |

£ | £ |

| Deferred tax | 1,233,553 |  | 1,236,102 |  |

| Fordent Properties Limited (Registered number: 01229527) |

Notes to the Financial Statements - continued

for the Period 1 January 2024 to 30 December 2024

17. | Provisions for liabilities - continued

| Deferred |

| tax |

£ |

| Balance at 1 January 2024 | 1,236,102 |  |

| Credit to Income Statement during period | (2,549 | ) |

| Balance at 30 December 2024 | 1,233,553 |  |

18. | Called up share capital

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2024 | 2023 |

| value: |  | as restated |

£ | £ |

| 100 | Ordinary shares | 1 | 100 |  | 100 |  |

19. | Reserves

| Retained |  | Revaluation |

| earnings |  | reserve |  | Totals

£ | £ | £ |

| At 1 January 2024 | 1,651,612 |  | 4,377,182 |  | 6,028,794 |  |

| Profit for the period | 862,347 |  | 862,347 |  |

| Dividends | (1,057,797 | ) | (1,057,797 | ) |

| reclassification | 18,182 |  | (18,182 | ) | - |  |

| Recovery of loan previously

| written off | 30,000 |  | - |  | 30,000 |  |

| At 30 December 2024 | 1,504,344 |  | 4,359,000 |  | 5,863,344 |  |

20. | Contingent liabilities

| The company is party to a cross guarantee given to its bankers in respect of loan facilities. The terms of the guarantee provide cross guarantees between Fordent Properties Limited and other companies within the Zion Care Ltd group. The amount outstanding under this facility at 30 December 2024, excluding the amount included in creditors in this company, was £8,007,528

21. | Related party disclosures

| During the year, total dividends of £1,057,797 were paid to Zion Care Limited..

| Creditors include Nil (2023 - £108,571) in respect of loans from other companies under the control of the director. Debtors include £32,017 (2023 - Nil) in respect of loans to other companies under the control of the director.

| Fordent Properties Limited (Registered number: 01229527) |

Notes to the Financial Statements - continued

for the Period 1 January 2024 to 30 December 2024

22. | Ultimate controlling party

| The controlling party is T K Ogunleye.

| The ultimate controlling party is Zion Care Limited.

| The company is controlled by its director Mr T K Ogunleye by virtue of his 100% shareholding in the holding company, Zion Care Limited.

| Zion Care Limited, a company incorporated in England and Wales, is the holding company of Fordent Properties Limited.