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Company No: 11645790 (England and Wales)

# ABACUS CARE LIMITED

### Unaudited Financial Statements
For the financial year ended 31 July 2025
Pages for filing with the registrar

ABACUS CARE LIMITED

## Unaudited Financial Statements

For the financial year ended 31 July 2025

Contents

ABACUS CARE LIMITED

## BALANCE SHEET

As at 31 July 2025
ABACUS CARE LIMITED

## BALANCE SHEET (continued)

As at 31 July 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 67,725 |  | 0
Investment property | 4 | 2,475,613 |  | 2,335,929
Investments | 5 | 1 |  | 1
|  | 2,543,339 |  | 2,335,930
Current assets |  |  |  |
Debtors | 6 | 0 |  | 205
Cash at bank and in hand |  | 5,246 |  | 2,490
|  | 5,246 |  | 2,695
Creditors: amounts falling due within one year | 7 | ( 87,281) |  | ( 282,253)
Net current liabilities |  | (82,035) |  | (279,558)
Total assets less current liabilities |  | 2,461,304 |  | 2,056,372
Creditors: amounts falling due after more than one year | 8 | ( 864,974) |  | ( 664,575)
Provision for liabilities | 9 | ( 328,809) |  | ( 276,956)
Net assets |  | 1,267,521 |  | 1,114,841
Capital and reserves |  |  |  |
Called-up share capital |  | 100 |  | 100
Fair value reserve |  | 935,631 |  | 830,869
Profit and loss account |  | 331,790 |  | 283,872
Total shareholders' funds |  | 1,267,521 |  | 1,114,841

For the financial year ending 31 July 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Abacus Care Limited (registered number: 11645790) were approved and authorised for issue by the Board of Directors on 14 April 2026. They were signed on its behalf by:

K A Tills Director |

ABACUS CARE LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2025
ABACUS CARE LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Abacus Care Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Albert Goodman, Lupin Way, Yeovil, BA22 8WW, United Kingdom. The principal place of business is Dene Court Care Home, 1 Wonford Street, Exeter, EX2 5HU.
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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net current liabilities of £82,035. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

##### Turnover

Other operating income comprises the fair value of the consideration received or receivable for the rental of the company's investment property and other assets.
Rental income is recognised at the fair value of the consideration received for the period to which it relates.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.
Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles | 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
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.

##### Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
The Company as lessor
Amounts due from lessees under finance leases are recognised as receivables at the amount of the company’s net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the company’s net investment outstanding in respect of leases.
Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease.

##### Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
The fair value is determined annually by the directors, on an open market value for existing use basis.

##### Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

##### Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

##### 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 creditors: amounts falling due within one year.

##### Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
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.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

##### Government grants

Government grants are recognised within other operating income based on the performance model and are measured at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received.
A grant that specifies performance conditions is recognised in income only when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the grant proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

##### Ordinary share capital

The ordinary share capital of the Company is presented as equity.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 2 |  | 2

#### 3. Tangible assets

| Vehicles |  | Total
| £ |  | £
Cost |  |  |
At 01 August 2024 | 0 |  | 0
Additions | 73,868 |  | 73,868
At 31 July 2025 | 73,868 |  | 73,868
Accumulated depreciation |  |  |
At 01 August 2024 | 0 |  | 0
Charge for the financial year | 6,143 |  | 6,143
At 31 July 2025 | 6,143 |  | 6,143
Net book value |  |  |
At 31 July 2025 | 67,725 |  | 67,725
At 31 July 2024 | 0 |  | 0

#### 4. Investment property

| Investment property
| £
Valuation |
As at 01 August 2024 | 2,335,929
Fair value movement | 139,684
As at 31 July 2025 | 2,475,613

Valuation

The investment property was revalued at 31 July 2025 by the directors on an open market basis.
The directors considered the valuation of the investment property to remain materially correct at the balance sheet date.
There has been no valuation of investment property by an independent valuer.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

| 2025 |  | 2024
| £ |  | £
Historic cost | 1,228,104 |  | 1,228,104

#### 5. Fixed asset investments

Investments in subsidiaries

| 2025
| £
Cost |
At 01 August 2024 | 1
At 31 July 2025 | 1
Carrying value at 31 July 2025 | 1
Carrying value at 31 July 2024 | 1

At the balance sheet date the company had 1 (2023 - 1) wholly owned subsidiary. There has been no movement during the year

#### 6. Debtors

| 2025 |  | 2024
| £ |  | £
Amounts owed by Group undertakings | 0 |  | 205

Amounts owed by Group undertakings are repayable on demand and do not bear interest.

#### 7. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Bank loans (secured) | 58,400 |  | 49,600
Amounts owed to Group undertakings | 16,920 |  | 0
Amounts owed to directors | 0 |  | 217,592
Accruals | 2,400 |  | 2,300
Corporation tax | 0 |  | 12,761
Obligations under finance leases and hire purchase contracts (secured) | 9,561 |  | 0
| 87,281 |  | 282,253

Amounts owed to Group undertakings are repayable on demand and do not bear interest.

#### 8. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Bank loans (secured) | 604,366 |  | 664,575
Amounts owed to directors | 217,592 |  | 0
Obligations under finance leases and hire purchase contracts (secured) | 43,016 |  | 0
| 864,974 |  | 664,575

Bank borrowings are secured by a fixed and floating charge over all the assets and undertakings of the company and its subsidiary.
Obligations under hire purchase contracts are secured against the assets concerned, which are included within tangible fixed assets. At the balance sheet date the assets concerned had a net book value of £67,014 (2024 - £nil).
Amounts owed to directors are interest-free.

#### 9. Provision for liabilities

| 2025 |  | 2024
| £ |  | £
Deferred tax | 328,809 |  | 276,956

#### 10. Related party transactions

Transactions with entities in which the entity itself has a participating interest

The company has taken advantage of the exemptions provided from disclosing transactions with its wholly owned subsidiary.