Company registration number 04023398 (England and Wales)
MEMORY LANE CARE HOMES LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
MEMORY LANE CARE HOMES LIMITED
COMPANY INFORMATION
Director
Mr J Bamberger
Company number
04023398
Registered office
1st Floor, Cloister House
Riverside
New Bailey Street
Manchester
M3 5FS
Auditor
Lopian Gross Barnett & Co
1st Floor, Cloister House
Riverside
New Bailey Street
Manchester
M3 5FS
Business address
8A Montpellier Rise
London
NW11 9SS
MEMORY LANE CARE HOMES LIMITED
CONTENTS
Page
Strategic report
1
Director's report
2
Director's responsibilities statement
3
Independent auditor's report
4 - 6
Profit and loss account
7
Statement of comprehensive income
8
Balance sheet
9
Statement of changes in equity
10
Statement of cash flows
11
Notes to the financial statements
12 - 22
MEMORY LANE CARE HOMES LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2025
- 1 -

The director presents the strategic report for the year ended 30 June 2025.

Review of the business

Memory Lane Care Homes Limited is a wholly owned subsidiary of Surecare Homes Limited. Memory Lane Care Homes Limited provides residential accommodation and nursing home facilities for the elderly within its four care homes.

Management continued to use their considerable experience of running the successful home s to develop the best possible team for the residents entering the home s to ensure that the new residents receive the best care possible. The company continued to achieve occupancy rates in line with management's expectations. Go ing forward the m anagement will continue to develop a high quality care team and aim to further increase occupancy towards capacity.

The company has continued to maintain and improve high standards of its freehold buildings during the year.

Principal risks and uncertainties

The primary activity is that of providing nursing and personal care within our nursing and care home s. Providing adequate staffing with sufficient training to safeguard the residents and provide high quality care is a principal risk. We aim to exceed Care Quality Commission (CQC) standards for all of our staff members. We strive to have the right systems and procedures to induct, train and monitor all of our staff to ensure that the residents get the high level of care and support they deserve.

We are reliant on the uptake of beds and therefore any changes in the occupancy levels will quickly affect our results. We rely on referrals from the local authorit ies and building a good reputation for the quality of our care to attract these referrals and also attract private residents.

Our nursing home is externally financed and subject to the usual financial and occupancy covenants for our industry. Since the end of the year we have met these covenants.

Development and performance

The position of the company at the year end remained strong and in line with expectations.

Key performance indicators

The company uses various key performance indicators to analyse the business on a monthly basis. The KPl's which the directors consider to be the most important to understand the operating trends over the reporting period are shown below:

Turnover

Occupancy %

Gross profit margin

On behalf of the board

Mr J Bamberger
Director
25 March 2026
MEMORY LANE CARE HOMES LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 30 JUNE 2025
- 2 -

The director presents his annual report and financial statements for the year ended 30 June 2025.

Principal activities

The principal activity of the company continued to be that of provision of residential care facilities to the elderly.

Results and dividends

The results for the year are set out on page 7.

Ordinary dividends were paid amounting to £800,000. The director does not recommend payment of a final dividend.

Director

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

Mr J Bamberger
Auditor

Lopian Gross Barnett & Co were appointed auditor to the company and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at a General Meeting.

Statement of disclosure to auditor

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

On behalf of the board
Mr J Bamberger
Director
25 March 2026
MEMORY LANE CARE HOMES LIMITED
DIRECTOR'S RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 30 JUNE 2025
- 3 -

The director is responsible for preparing the annual 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). 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; and

- 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 them 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.

MEMORY LANE CARE HOMES LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF MEMORY LANE CARE HOMES LIMITED
- 4 -
Opinion

We have audited the financial statements of Memory Lane Care Homes Limited (the 'company') for the year ended 30 June 2025 which comprise the profit and loss account, the statement of comprehensive income, the balance sheet, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 30 June 2025 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

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

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.

Opinions on other matters prescribed by the Companies Act 2006

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

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

- the strategic report and the director's report have been prepared in accordance with applicable legal requirements.

MEMORY LANE CARE HOMES LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF MEMORY LANE CARE HOMES LIMITED (CONTINUED)
- 5 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the director's r eport.

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

- adequate accounting records have not been kept, 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; or

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

Responsibilities of director

As explained more fully in the director's r esponsibilities s tatement, 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.

Auditor's responsibilities for the audit of the financial statements

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

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

MEMORY LANE CARE HOMES LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF MEMORY LANE CARE HOMES LIMITED (CONTINUED)
- 6 -

- We obtained an understanding of laws and regulations that affect the entity, focusing on those that had a direct effect on the financial statements or that had a fundamental effect on its operations.

- Where considered necessary we enquired of those charged with governance, reviewed correspondence and reviewed meeting minutes for evidence of non-compliance with relevant laws and regulations.

- We gained an understanding of the controls environment which includes the controls in place to prevent and detect fraud. We enquired of those charged with governance about any incidences of fraud that had taken place during the accounting period.

- The risk of fraud and non-compliance with laws and regulations was discussed within the audit team and tests were planned and performed to address these risks.

- We reviewed financial statements disclosures to assess compliance with relevant laws and regulations.

- We enquired of those charged with governance about actual and potential litigation and claims.

- We performed analytical procedures to identify any unusual or unexpected relationships that might indicate risks of material misstatement due to fraud.

- In addressing the risk of fraud due to management override of internal controls we tested the appropriateness of journal entries and assessed whether the judgements made in making accounting estimates were indicative of a potential bias.

Due to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing fraud or non-compliance with laws and regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations.

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

Use of our report

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

Jonathan Brodie FCA (Senior Statutory Auditor)
For and on behalf of Lopian Gross Barnett & Co, Statutory Auditor
Chartered Accountants
1st Floor, Cloister House
Riverside
New Bailey Street
Manchester
M3 5FS
25 March 2026
MEMORY LANE CARE HOMES LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 JUNE 2025
- 7 -
2025
2024
Notes
£
£
Turnover
3
10,689,692
9,883,287
Cost of sales
(6,534,247)
(6,002,402)
Gross profit
4,155,445
3,880,885
Administrative expenses
(1,613,776)
(1,555,865)
Operating profit
4
2,541,669
2,325,020
Interest receivable and similar income
8
63,691
17,539
Interest payable and similar expenses
9
(600,541)
(388,142)
Profit before taxation
2,004,819
1,954,417
Tax on profit
10
(514,042)
(495,404)
Profit for the financial year
1,490,777
1,459,013

The profit and loss account has been prepared on the basis that all operations are continuing operations.

MEMORY LANE CARE HOMES LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JUNE 2025
- 8 -
2025
2024
£
£
Profit for the year
1,490,777
1,459,013
Other comprehensive income
-
-
Total comprehensive income for the year
1,490,777
1,459,013
MEMORY LANE CARE HOMES LIMITED
BALANCE SHEET
AS AT
30 JUNE 2025
30 June 2025
- 9 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
12
5,097,348
4,822,400
Current assets
Stocks
14
-
5,260
Debtors
15
5,569,281
3,218,776
Cash at bank and in hand
1,101,137
3,790,901
6,670,418
7,014,937
Creditors: amounts falling due within one year
16
(2,030,444)
(2,474,664)
Net current assets
4,639,974
4,540,273
Total assets less current liabilities
9,737,322
9,362,673
Creditors: amounts falling due after more than one year
17
(7,414,397)
(7,730,525)
Net assets
2,322,925
1,632,148
Capital and reserves
Called up share capital
21
1,000
1,000
Profit and loss reserves
2,321,925
1,631,148
Total equity
2,322,925
1,632,148

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

The financial statements were approved and signed by the director and authorised for issue on 25 March 2026
Mr J Bamberger
Director
Company registration number 04023398 (England and Wales)
MEMORY LANE CARE HOMES LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2025
- 10 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 July 2023
1,000
3,272,135
3,273,135
Year ended 30 June 2024:
Profit and total comprehensive income
-
1,459,013
1,459,013
Dividends
11
-
(3,100,000)
(3,100,000)
Balance at 30 June 2024
1,000
1,631,148
1,632,148
Year ended 30 June 2025:
Profit and total comprehensive income
-
1,490,777
1,490,777
Dividends
11
-
(800,000)
(800,000)
Balance at 30 June 2025
1,000
2,321,925
2,322,925
MEMORY LANE CARE HOMES LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2025
- 11 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
23
893
2,265,371
Interest paid
(608,302)
(388,142)
Income taxes paid
(642,840)
(260,570)
Net cash (outflow)/inflow from operating activities
(1,250,249)
1,616,659
Investing activities
Purchase of tangible fixed assets
(430,418)
(154,990)
Interest received
63,691
17,539
Net cash used in investing activities
(366,727)
(137,451)
Financing activities
Repayment of bank loans
(272,788)
3,225,744
Dividends paid
(800,000)
(3,100,000)
Net cash (used in)/generated from financing activities
(1,072,788)
125,744
Net (decrease)/increase in cash and cash equivalents
(2,689,764)
1,604,952
Cash and cash equivalents at beginning of year
3,790,901
2,185,949
Cash and cash equivalents at end of year
1,101,137
3,790,901
MEMORY LANE CARE HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
- 12 -
1
Accounting policies
Company information

Memory Lane Care Homes Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1st Floor, Cloister House, Riverside, New Bailey Street, Manchester, M3 5FS.

1.1
Basis of preparation

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

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

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

1.2
Going concern

A true t the time of approving the financial statements, t he director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Revenue

Revenue comprises sales of services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected discounts. Revenue is recognised when performance obligations are satisfied. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

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

1.4
Tangible fixed assets

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

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

Freehold land and buildings
No depreciation
Fixtures and fittings
20% Straight line
Motor vehicles
25% Reducing balance

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

MEMORY LANE CARE HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 13 -

Due to the high standards that the freehold land and buildings are maintained the directors do not believe it to be necessary to provide for depreciation on the properties.

1.5
Impairment of fixed assets

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

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

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

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

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Cash and cash equivalents

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

MEMORY LANE CARE HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 14 -
1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

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

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets

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

Impairment of financial assets

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

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

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

Derecognition of financial assets

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

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

MEMORY LANE CARE HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 15 -
Basic financial liabilities

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

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

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

Other financial liabilities

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

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

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.9
Equity instruments

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

1.10
Taxation

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

Current tax

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

Deferred tax

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

MEMORY LANE CARE HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 16 -

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

1.11
Employee benefits

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

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

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

1.12
Retirement benefits

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

1.13
Leases
As lessee

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

1.14
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

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

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

MEMORY LANE CARE HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 17 -
3
Turnover and other revenue

An analysis of the company's turnover is as follows:

2025
2024
£
£
Turnover analysed by class of business
Carehome operations
10,689,692
9,883,287
2025
2024
£
£
Turnover analysed by geographical market
United Kingdom
10,689,692
9,883,287
2025
2024
£
£
Other revenue
Interest income
63,691
17,539
4
Operating profit
2025
2024
Operating profit for the year is stated after charging:
£
£
Fees payable to the company's auditor for the audit of the company's financial statements
35,000
29,450
Depreciation of tangible fixed assets
155,470
156,226
Operating lease charges
4,000
20,000
5
Auditor's remuneration
2025
2024
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
35,000
29,450
Audit of the financial statements of the company's parent
5,000
5,000
40,000
34,450
6
Employees

The average monthly number of persons employed by the company during the year was:

2025
2024
Number
Number
234
233
MEMORY LANE CARE HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
6
Employees
(Continued)
- 18 -

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
5,312,538
4,737,920
Social security costs
505,951
383,031
Pension costs
87,584
72,385
5,906,073
5,193,336
7
Director's remuneration
2025
2024
£
£
Remuneration for qualifying services
150,000
80,769
8
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
63,691
17,539
2025
2024
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
63,691
17,539
9
Interest payable and similar expenses
2025
2024
£
£
Interest on financial liabilities measured at amortised cost
Interest on bank overdrafts and loans
600,541
378,281
Other finance costs
Other interest
-
0
9,861
600,541
388,142
10
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
514,042
495,404
MEMORY LANE CARE HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
10
Taxation
(Continued)
- 19 -

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

2025
2024
£
£
Profit before taxation
2,004,819
1,954,417
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
501,205
488,604
Depreciation on assets not qualifying for tax allowances
12,837
6,800
Taxation charge for the year
514,042
495,404
11
Dividends
2025
2024
£
£
Interim paid
800,000
3,100,000
12
Tangible fixed assets
Freehold land and buildings
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 July 2024
4,428,832
964,274
138,513
5,531,619
Additions
360,632
69,786
-
0
430,418
Disposals
-
0
(337,425)
-
0
(337,425)
At 30 June 2025
4,789,464
696,635
138,513
5,624,612
Depreciation and impairment
At 1 July 2024
-
0
635,277
73,942
709,219
Depreciation charged in the year
-
0
139,327
16,143
155,470
Eliminated in respect of disposals
-
0
(337,425)
-
0
(337,425)
At 30 June 2025
-
0
437,179
90,085
527,264
Carrying amount
At 30 June 2025
4,789,464
259,456
48,428
5,097,348
At 30 June 2024
4,428,832
328,997
64,571
4,822,400
MEMORY LANE CARE HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 20 -
13
Financial instruments
2025
2024
£
£
Carrying amount of financial assets
Debt instruments measured at amortised cost
5,503,291
3,153,924
Carrying amount of financial liabilities
Measured at amortised cost
8,796,007
9,293,221
14
Stocks
2025
2024
£
£
Raw materials and consumables
-
5,260
15
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
670,469
845,066
Amounts owed by group undertakings
1,170,363
1,170,363
Other debtors
3,581,074
1,138,495
Prepayments and accrued income
147,375
64,852
5,569,281
3,218,776
16
Creditors: amounts falling due within one year
2025
2024
Notes
£
£
Bank loans
18
294,000
250,660
Trade creditors
526,064
508,121
Corporation tax
366,606
495,404
Other taxation and social security
229,542
179,391
Deferred income
19
52,686
237,173
Other creditors
461,460
199,212
Accruals and deferred income
100,086
604,703
2,030,444
2,474,664
17
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Bank loans and overdrafts
18
7,414,397
7,730,525
MEMORY LANE CARE HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 21 -
18
Loans and overdrafts
2025
2024
£
£
Bank loans
7,708,397
7,981,185
Payable within one year
294,000
250,660
Payable after one year
7,414,397
7,730,525

In 2023, t he company secured a facility loan of £4.8million. The loan has a termination date 5 years from the first drawdown, with repayments scheduled monthly based on a 15 year repayment profile from the first drawdown date.

In 2024, the company secured an additional £3.4million loan facility. This loan has a termination date 4 years and 2 months from the first drawdown, with repayments scheduled monthly based on a 20 year repayment profile from the first drawdown date.

The remaining balance s are repayable on the termination date. The rate of interest on the loan s are on a floating rate basis based on The Bank of England base rate plus a margin of 2.9% and 2.45% respectively.

The loan s are secured by a composite debenture over three of the properties owned by the company (Bryony Lodge, Bryony Park and Marigold) and a cross guarantee and debenture in favour of the bank granted by Memory Lane Care Homes and its parent company Surecare Homes Limited.

19
Deferred income
2025
2024
£
£
Other deferred income
52,686
237,173
20
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
87,584
72,385

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

21
Share capital
2025
2024
£
£
Ordinary share capital
Issued and fully paid
1,000 Ordinary shares of £1 each
1,000
1,000
MEMORY LANE CARE HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 22 -
22
Related party transactions

The following amounts were outstanding at the reporting end date:

2025
2024
Amounts due from related parties
£
£
Entities over which the entity has control, joint control or significant influence
3,549,835
823,002
23
Cash generated from operations
2025
2024
£
£
Profit after taxation
1,490,777
1,459,013
Adjustments for:
Taxation charged
514,042
495,404
Finance costs
600,541
388,142
Investment income
(63,691)
(17,539)
Depreciation and impairment of tangible fixed assets
155,470
156,226
Movements in working capital:
Decrease in stocks
5,260
-
0
Increase in debtors
(2,350,505)
(559,379)
(Decrease)/increase in creditors
(166,514)
329,683
(Decrease)/increase in deferred income
(184,487)
13,821
Cash generated from operations
893
2,265,371
24
Analysis of changes in net debt
1 July 2024
Cash flows
30 June 2025
£
£
£
Cash at bank and in hand
3,790,901
(2,689,764)
1,101,137
Borrowings excluding overdrafts
(7,981,185)
272,788
(7,708,397)
(4,190,284)
(2,416,976)
(6,607,260)
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