G P Homecare Limited - Limited company accounts 25.1

DIRECTORS:

S R Patel

D R Patel

SECRETARY:

S R Patel

REGISTERED OFFICE:

Mercia House

15 Galena Close

Tamworth

Staffordshire

B77 4AS

REGISTERED NUMBER:

03587165 (England and Wales)

AUDITORS:

Mercer & Hole LLP

Chartered Accountants and Statutory Auditor

The Pinnacle

170 Midsummer Boulevard

Milton Keynes

MK9 1BP

BANKERS:

Royal Bank of Scotland

24 Southernhay

Basildon

Essex

SS14 1ER

ACCOUNTANTS:

Elsby & Co

Chartered Accountants

155 Wellingborough Road

Rushden

NN10 9TB

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

REVIEW OF BUSINESS

G P Homecare Limited (trading as Radis Community Care) predominantly provides care and support services in community settings across three reporting divisions: Domiciliary Care, Extra Care Housing and Specialist Services.

The company increased turnover to £59,972,822 (2024: £54,457,231). The increase in turnover was achieved through fee increases on existing contracts, growth in Extra Care and maturing Supported Living contracts.

Gross profit margin has remained stable at 29.2% (2024: 29.3%).

We have continued to experience substantial margin pressures. Local Authority and Health Board budgets remain tight resulting in annual uplifts across a number of our contracts not keeping pace with another year of substantial increases in the cost of the National Living Wage, changes in Employers National Insurance contributions, associated employment costs, as well as higher inflationary pressures in utilities and insurance.

To manage these pressures we have continued to review our contract performance. Those that are no longer economic and sustainable have either been subject to contractual changes to help sustainability or, where no resolution can be found, have been handed back to the Local Authority / Health Boards.

The full impact of the actions taken have resulted in the business further improving profitability. The Operating result for this year before Interest, Tax, Depreciation and Amortisation (EBITDA) was a profit of £418,729 (2024: £331,787).

The company has continued its investment in branch and support staff, IT expenditure and bore significant increases in a number of general cost lines. As a result, there was an increase in administrative expenses to £17,728,007 (2024: £16,172,885).

We expect to see further investment in wages, IT costs and new contracts and services which the company believes will position it to continue its growth and improvement in financial performance.

As part of our investment, we are upgrading our care planning and rostering systems in line with requirements for digital social care records (DSCR) for adult social care. As part of this project we have received funding amounting to £454,464 in the year to cover implementation costs. This funding will be released to cover the expected increased costs when incurred.

The outlook for 2025/26 will be enhanced by further new contract additions and further benefits of the contract reviews which are being done continually.

However, we anticipate that existing contracts will continue to be affected by continued pressure on margins due to increases to the National Living Wage and current pressures on Local Authority and Health Board budgets. As a result the business will be looking to extract benefits and efficiencies from recent investments in rostering and care planning while continuing to review its contracts and take appropriate actions to ensure continued profitability.

PRINCIPAL RISKS AND UNCERTAINTIES

The principal risks and uncertainties continue to be the following:

Reliance on Local Authority customers

This risk is managed by maintaining close relations with those customers and looking for opportunities to expand into the private payer market. The company maintains a pipeline of tender opportunities to promote a diversity of contract and selectively tenders for sustainable contracts. The company has a good track record of winning new contracts and retaining contracts on renewal.

Compliance with regulations

The company employs suitably qualified staff and provides access to staff training to ensure they remain compliant with the regulations of the sector.

PRINCIPAL RISKS AND UNCERTAINTIES (CONTINUED)

Retention and quality of staff

Recruitment and retention of good quality staff is an ongoing problem in a sector which is traditionally low paid. The company ensures it complies with the requirements of the National Minimum and Living Wages legislation.

DEVELOPMENT AND PERFORMANCE

Trading conditions are expected to continue to be difficult with the continuing pressure on margins, however, demand for care and support services continues to be high and we do expect to grow organically over the next 12 months.

KEY PERFORMANCE INDICATORS

The directors consider the key performance indicators to be turnover, gross margins, EBITDA (Earnings before Interest, Tax, Depreciation, Amortisation) and cash flow which are consistent with the size and complexity of the business.

2025

2024

Turnover

£59,972,822

£54,457,231

Gross margin

29.2%

29.3%

EBITDA

£418,729

£331,787

PROMOTING THE SUCCESS OF THE COMPANY

The directors have had regard to the matters set out in section 172(1)(a) to (f) of the Companies Act 2006 in exercising their duty to promote the success of the company for the benefit of its members as a whole. The directors consider the company’s key stakeholders to be its Shareholders, Employees, Customers, Suppliers, Funders and Regulators. The Board seeks to understand the respective interests of such groups so that these may be properly considered in the Board’s decisions. We do this through various methods, including: direct engagement by the appropriate Board members; receiving reports and updates from members of management who engage with such groups; and coverage in our Board papers of relevant stakeholder interests with regard to proposed courses of action.

In considering the likely long-term consequences of any strategic decisions they make, the directors recognise their understanding of the business and the evolving environment in which the company operates is critical. Through their day to day involvement in the business, the directors are able to keep pace with the changes and challenges faced and can ensure this is incorporated into their strategic plans.

By providing a safe and secure working environment for employees, the directors are mindful that the company’s employees are fundamental and core to the business and delivery of the Board’s strategic plans. The success of the business depends on attracting, developing, retaining and motivating employees. Delivering the strategy also requires good relationships with suppliers, clients, funders, and local communities and the directors work continuously to achieve this.

PROMOTING THE SUCCESS OF THE COMPANY (CONTINUED)

In order to maintain the company’s reputation for high standards of business conduct the directors review and approve clear plans, policies and frameworks periodically, and carry out regular reviews so they can ensure that those high standards are maintained across all relationships, internally and externally. This is complemented by the way the directors monitor ongoing changes with governance standards and adapt the company’s policies and procedures to reflect those that are relevant to the size and industry of the business. The company’s environmental impact is monitored by the directors and further details can be found in the Directors' Report.

Finally, the directors recognise their role is key through not just their words but their own actions in ensuring the desired culture is embedded in the values, attitudes and behaviours the company demonstrates through its external activities and stakeholder relationships.

ON BEHALF OF THE BOARD:

S R Patel - Director

15 May 2026

The directors present their report with the financial statements of the company for the year ended 31 August 2025.

PRINCIPAL ACTIVITY

The principal activity of the company continues to be the provision of care and support services to vulnerable people in the community.

DIVIDENDS

The results for the year are set out on page 12.

Ordinary dividends were paid amounting to £120,000. The directors do not recommend payment of a final dividend.

FUTURE DEVELOPMENTS

The company continues to seek further opportunities to develop the business and additional services.

DIRECTORS

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

S R Patel

D R Patel

EMPLOYEES

Disabled persons

The company's policy is to recruit disabled workers for those vacancies that they are able to fill. All necessary assistance with initial training courses is given. Once employed, a career plan is developed so as to ensure suitable opportunities for each disabled person are available. Arrangements are made, wherever possible, for retraining employees who become disabled, to enable them to perform work identified as appropriate to their aptitudes and abilities.

Employee involvement

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

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

STREAMLINED ENERGY AND CARBON REPORTING

GP Homecare Limited recognises that our operations have an environmental impact and we are committed to monitoring and reducing our emissions year on year. We are also aware of our reporting obligations under The Companies (Directors' Report) and Limited Liability Partnerships (Energy and Carbon Report) Regulations 2018. As such, this year we have included reporting of or energy and carbon to meet these requirements and increase the transparency with which we communicate about our environmental impact to our stakeholders.

2024/2025 Performance

Our carbon footprint for the 2024/2025 reporting year has been calculated based on our environmental impact across scope 1, 2 and some scope 3 emissions related to Business Miles covered in Employees vehicles, as we believe this to be a fair reflection of the energy used in the operation of the business.

Our emissions are 468 tCO2e, which is an average impact of 0.20 tCO2e per employee. We have calculated emission intensity metrics on the basis of FTE, which we will monitor to track performance in our subsequent environmental disclosures.

We look to continually maximise efficiencies by minimising the impact of our carbon footprint through monitoring of our energy usage. By the nature of our business, vehicle fuel consumption is the largest proportion of our environmental impact (92% of our total energy consumption) and is primarily driven by our Visiting Care Services.

The reduction of 94 tCO2e or 17% in this year is directly related to further reductions in the Visiting Care services we are providing as the business continues to transition into the Extra Care and Supported Living markets.

For our remaining Visiting Care services, we try to maximise our efficiency by looking at our customers distribution profile and increasing the effectiveness of our planning. In addition we aim to educate our employees to reduce consumption where possible.

Methodology

The CO2e calculations are based on the HMRC publications relating to greenhouse gas reporting conversion factors for 2025 and our internal records for orders of fuel and energy consumption statements.

2025

2024

Energy consumption

kWh

Aggregate of energy consumption in the year

1,990,109

2,368,063

2025

2024

Emissions of CO2 equivalent

metric tonnes

Scope 1 - direct emissions

- Gas combustion

17.00

6.00

- Fuel consumed for owned transport

37.00

56.00

54.00

62.00

Scope 2 - indirect emissions

- Electricity purchased

22.00

26.00

Scope 3 - other indirect emissions

- Fuel consumed for transport not owned by the

company

392.00

474.00

Total gross emissions

468.00

562.00

Intensity ratio

Tonnes CO2 per employee

0.20

0.23

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:

- select suitable accounting policies and then apply them consistently;

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

- state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are 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. They are 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 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.

AUDITORS

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

ON BEHALF OF THE BOARD:

S R Patel - Director

15 May 2026

Opinion

We have audited the financial statements of G P Homecare Limited (the 'company') for the year ended 31 August 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 August 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 Auditors' 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 directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

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

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

Other information

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

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

-	the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.

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 identified material misstatements in the Strategic Report or the Directors' Report.

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

-	adequate accounting records have not been kept, 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 directors' remuneration specified by law are not made; or

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

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page seven, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

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 an Auditors' 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:

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. These included, but were not limited to, the Companies Act 2006, tax legislation and the requirements of the Care Quality Commission.

We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements and the financial report (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate entries including journals to overstate revenue or understate expenditure and management bias in accounting estimates.

Audit procedures performed by the engagement team included:

- discussions with management, including considerations of known or suspected instances of non-compliance with laws and regulations and fraud;

- gaining an understanding of management's controls designed to prevent and detect irregularities;

- identifying and testing journal entries; and

- reviewing Care Quality Commission inspection reports to identify evidence of non-compliance.

Owing 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, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, 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 non- compliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' 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 Auditors' 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.

Andrew Lawes MA MSc FCA (Senior Statutory Auditor)

for and on behalf of Mercer & Hole LLP

The Pinnacle

170 Midsummer Boulevard

Milton Keynes

MK9 1BP

15 May 2026

TURNOVER

59,972,822

54,457,231

Cost of sales

42,458,719

38,482,247

GROSS PROFIT

17,514,103

15,974,984

Administrative expenses

17,728,007

16,172,885

(213,904

)

(197,901

)

Other operating income

202,887

205,779

OPERATING (LOSS)/PROFIT

(11,017

)

7,878

Income from shares in group undertakings

1,662,920

Interest receivable and similar income

74,285

72,010

1,737,205

72,010

1,726,188

79,888

Amounts written off investments

241,712

PROFIT BEFORE TAXATION

1,484,476

79,888

Tax on profit

42,367

41,197

PROFIT FOR THE FINANCIAL YEAR

1,442,109

38,691

OTHER COMPREHENSIVE INCOME

Business combination movements

(454,026

)

Income tax relating to other comprehensive

income

OTHER COMPREHENSIVE INCOME FOR THE

YEAR, NET OF INCOME TAX

(454,026

)

TOTAL COMPREHENSIVE INCOME FOR THE

YEAR

1,442,109

(415,335

)

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

FIXED ASSETS

Intangible assets

940,360

1,121,006

Tangible assets

958,587

878,386

Investments

788,611

1,030,323

2,687,558

3,029,715

CURRENT ASSETS

Debtors: amounts falling due within one

year

7,829,499

6,326,975

Debtors: amounts falling due after more

than one year

1,062,924

901,928

Cash at bank and in hand

1,096,453

928,325

9,988,876

8,157,228

CREDITORS

Amounts falling due within one year

6,900,142

6,775,127

NET CURRENT ASSETS

3,088,734

1,382,101

TOTAL ASSETS LESS CURRENT LIABILITIES

5,776,292

4,411,816

PROVISIONS FOR LIABILITIES

55,366

12,999

NET ASSETS

5,720,926

4,398,817

CAPITAL AND RESERVES

Called up share capital

Retained earnings

5,720,924

4,398,815

SHAREHOLDERS' FUNDS

5,720,926

4,398,817

The financial statements were approved by the Board of Directors and authorised for issue on 15 May 2026 and were signed on its behalf by:

S R Patel - Director

Called up

Retained

Total

capital

earnings

equity

Balance at 1 September 2023

5,033,150

5,033,152

Changes in equity

Profit for the year

38,691

Movements arising on business

combinations

(454,026

)

(454,026

)

Total comprehensive income

(415,335

)

(415,335

)

Dividends

(219,000

)

(219,000

)

Balance at 31 August 2024

4,398,815

4,398,817

Changes in equity

Profit for the year

1,442,109

Total comprehensive income

1,442,109

Dividends

(120,000

)

(120,000

)

Balance at 31 August 2025

5,720,924

5,720,926

1.	GENERAL INFORMATION

G P Homecare Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03587165. The registered office is Mercia House, 15 Galena Close, Tamworth, Staffordshire, B77 4AS.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

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

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Financial Reporting Standard 102 - reduced disclosure exemptions

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' - Carrying amounts, interest income/expense and net gains/losses for each category of financial instrument; 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 33 'Related Party Disclosures' - Compensation for key management personnel

The financial statements of the company are consolidated in the financial statements of Radis Limited. These consolidated financial statements are available from its registered office Mercia House, 15 Galena Close, Tamworth, B77 4AS.

Exemption From Preparing consolidated Financial Statements

The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

Significant judgements and estimates

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 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.

Key sources of estimation uncertainty

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

Bad and doubtful debts

The directors review trade receivables at each balance sheet date for impairment. Impairment of individually significant balances is assessed with an appropriate impairment provision being made when it is probable that the cash due will not be received in full. Individual non-significant balances are measured on a portfolio basis and assessed for impairment using historical loss experience.

Turnover

Turnover represents amounts receivable for goods and services and is exempt from VAT.

Revenue from the provision of services is recognised by reference to the date of provision of the related services.

Intangible fixed assets and amortisation - goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of 10 years.

Other intangible assets

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

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

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

Software

3 years straight line

Contracts

5-10 years straight line

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

50 years straight line

Motor Vehicles

5 years straight line

Fixtures & Fittings

5 years straight line

Computer Equipment

3 years straight line

The gain or loss arising on the disposal 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.

Impairment of fixed assets

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

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.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Investments in subsidiaries

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

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

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.

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.

Financial instruments (continued)

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.

Basic financial liabilities

Basic financial liabilities, including creditors and loans from fellow group companies 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

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

Derecognition of financial liabilities

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

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.

Taxation

Income 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 profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax

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

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

Leasing contracts

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 leased asset are consumed.

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

The company participates in two multi-employer defined benefit pension schemes, the Local Government Pension scheme and the NHS Pension scheme. Under the TUPE arrangements for employees who were already members of these schemes when their employment contracts were transferred to the company, the company's obligations are to pay current contributions but have been indemnified by the relevant local authority to contribute towards any scheme deficit that may exist.

As such, the schemes have been accounted for a defined contribution pension scheme and the pension costs in respect of these schemes represent contributions payable in the period.

Going concern disclosure

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Detailed trading cash flow forecasts have been prepared covering a period of greater than 12 months from the date of approval of these financial statements. The forecasts indicate that the company will have adequate resources to continue to trade for the foreseeable future without the need for additional sources of funds.

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.

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 of 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.

Business combinations

The cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill.

The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date.

Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date.

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

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

2025

2024

Provision of care and support

59,972,822

54,457,231

59,972,822

54,457,231

An analysis of turnover by geographical market is given below:

2025

2024

United Kingdom

59,972,822

54,457,231

59,972,822

54,457,231

4.	OTHER OPERATING INCOME

2025

2024

Other revenue

Grants received

8,500

42,724

Void rent income

44,356

126,555

Insurance receipts

500

Sundry other income

150,031

36,000

202,887

205,779

5.	EMPLOYEES AND DIRECTORS

Staff costs, including directors' remuneration, were as follows:

2025

2024

Wages and salaries

48,075,436

43,765,699

Social security costs

4,677,916

3,374,967

Other pension costs

1,147,390

961,878

53,900,742

48,102,544

Average number of employees, including directors, during the year was as follows:

2025

2024

Carers

2,193

2,234

Office and support staff

204

180

2,397

2,414

Directors' remuneration

2025

2024

Emoluments

210,741

203,637

Company contributions to money purchase pension schemes

26,321

13,677

237,062

217,314

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

2025

2024

Money purchase pension schemes

Information regarding the highest paid director was as follows:

2025

2024

Emoluments

106,850

103,246

Company contributions to money purchase pension schemes

12,000

1,800

118,850

105,046

6.	OPERATING (LOSS)/PROFIT

The operating loss (2024 - operating profit) is stated after charging/(crediting):

2025

2024

Other operating leases

324,856

396,325

Depreciation - owned assets

241,459

227,819

Profit on disposal of fixed assets

(170

)

Contracts amortisation

159,535

53,180

Computer software amortisation

28,922

42,910

Auditors' remuneration

36,648

40,577

Government grants

(8,500

)

(42,724

)

INTEREST RECEIVABLE AND SIMILAR INCOME

2025

2024

Deposit account interest

22,551

22,793

Other interest income

51,734

49,217

74,285

72,010

AMOUNTS WRITTEN OFF INVESTMENTS

2025

2024

Investments impairment

241,712

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

2025

2024

Current tax:

UK corporation tax

30,938

Deferred tax

42,367

10,259

Tax on profit

42,367

41,197

Reconciliation of total tax charge included in profit and loss

The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2025

2024

Profit before tax

1,484,476

79,888

Profit multiplied by the standard rate of corporation tax in the UK of 25%

(2024 - 25%)

371,119

19,972

Effects of:

Expenses not deductible for tax purposes

62,398

25,374

Income not taxable for tax purposes

(415,730

)

Tax losses utilised

(41,197

)

Other

1,217

Prior period adjustment

30,938

Movement in unprovided deferred tax

24,580

4,893

Total tax charge

42,367

41,197

Tax effects relating to effects of other comprehensive income

There were no tax effects for the year ended 31 August 2025.

2024

Gross

Tax

Net

Business combination movements

(454,026

)

(454,026

)

10.

DIVIDENDS

2025

2024

Ordinary shares of £1 each

Interim

120,000

219,000

11.	INTANGIBLE FIXED ASSETS

Computer

Goodwill

Contracts

software

Totals

COST

At 1 September 2024

1,863,191

1,205,385

137,849

3,206,425

Additions

7,811

At 31 August 2025

1,863,191

1,205,385

145,660

3,214,236

AMORTISATION

At 1 September 2024

1,863,191

117,237

104,991

2,085,419

Amortisation for year

159,535

28,922

188,457

At 31 August 2025

1,863,191

276,772

133,913

2,273,876

NET BOOK VALUE

At 31 August 2025

928,613

11,747

940,360

At 31 August 2024

1,088,148

32,858

1,121,006

12.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Motor

Computer

property

fittings

vehicles

equipment

Totals

COST

At 1 September 2024

590,000

312,028

7,500

1,166,209

2,075,737

Additions

49,333

272,327

321,660

At 31 August 2025

590,000

361,361

7,500

1,438,536

2,397,397

DEPRECIATION

At 1 September 2024

90,769

154,835

7,500

944,247

1,197,351

Charge for year

29,500

49,162

162,797

241,459

At 31 August 2025

120,269

203,997

7,500

1,107,044

1,438,810

NET BOOK VALUE

At 31 August 2025

469,731

157,364

331,492

958,587

At 31 August 2024

499,231

157,193

221,962

878,386

13.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

COST

At 1 September 2024

1,030,425

Disposals

(102

)

At 31 August 2025

1,030,323

PROVISIONS

At 1 September 2024

102

Eliminated on disposal

(102

)

Impairments

241,712

At 31 August 2025

241,712

NET BOOK VALUE

At 31 August 2025

788,611

At 31 August 2024

1,030,323

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

Radis Staff Solutions Limited

Registered office: England & Wales

Nature of business: Supply of cleaning staff

Class of shares:

holding

Ordinary & preference

100.00

Focus Care Services Limited

Registered office: England & Wales

Nature of business: Non trading

Class of shares:

holding

Ordinary

100.00

Lucy Glyn Support Services Limited

Registered office: England & Wales

Nature of business: Non trading

Class of shares:

holding

Ordinary

100.00

DEEP Properties Limited

Registered office: England & Wales

Nature of business: Investment property

Class of shares:

holding

Ordinary

100.00

14.

DEBTORS

2025

2024

Amounts falling due within one year:

Trade debtors

3,917,731

2,824,768

Amounts owed by group undertakings

784,923

303,364

Other debtors

72,743

158,723

Prepayments and accrued income

3,054,102

3,040,120

7,829,499

6,326,975

Amounts falling due after more than one year:

Other debtors

1,062,924

901,928

Aggregate amounts

8,892,423

7,228,903

15.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

Trade creditors

183,889

148,966

Amounts owed to group undertakings

1,391,360

Social security and other taxes

947,422

713,916

Other creditors

1,574,317

823,196

Accruals and deferred income

4,194,514

3,697,689

6,900,142

6,775,127

16.	PROVISIONS FOR LIABILITIES

2025

2024

Deferred tax

Accelerated capital allowances

113,988

90,598

Tax losses carried forward

(17,526

)

(41,821

)

Other timing differences

(41,096

)

(35,778

)

55,366

12,999

Deferred

tax

Balance at 1 September 2024

12,999

Charge to Statement of Comprehensive Income during year

42,367

Balance at 31 August 2025

55,366

17.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

Ordinary

£1

18.	PENSION COMMITMENTS

2025

2024

Defined contribution schemes

Charge to profit or loss in respect of defined contribution schemes

1,147,390

961,878

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The company also makes contributions to two multi-employer defined benefit pension schemes as described in the accounting policies note. Contributions to these schemes are accounted for as defined contribution schemes.

19.	CONTINGENT LIABILITIES

There is a cross company guarantee and debenture in place in respect of the group overdraft facility and borrowings totalling £1,341,449 (2024: £1,391,964). At the year end date, all assets within the group are held as security against this.

20.	OTHER FINANCIAL COMMITMENTS

Lessee

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

2025

2024

Not later than one year

131,668

188,053

Later than one year and not later than five years

62,284

63,262

Later than five years

1,584

193,952

252,899

21.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under 33.1A of the Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", not to disclose transactions with wholly owned subsidiaries within the group.

The company also paid rent to Ridge/Patel Partnership amounting to £24,000 (2024: £44,000), a partnership in which D R Patel, a shareholder in G P Homecare Limited, is a partner.

At the year end, a loan of £1,062,924 (2024: £1,011,189) was owed by Baringo Properties Limited, a company controlled by the directors and shareholders S R Patel and D R Patel and is included in 'Other Debtors' (note 14). The loan is unsecured and is interest bearing at 5% per annum.