REGISTERED NUMBER: 03812402 (England and Wales)

for

Page

Company Information  

1

Group Strategic Report  

2

Directors' Report  

5

Independent Auditors' Report  

8

Consolidated Statement of Comprehensive Income

12

Consolidated Balance Sheet  

13

Company Balance Sheet  

14

Consolidated Statement of Changes in Equity  

15

Company Statement of Changes in Equity  

16

Consolidated Cash Flow Statement  

17

Notes to the Consolidated Cash Flow Statement

18

Notes to the Consolidated Financial Statements

19

DIRECTORS:

S R Patel

D R Patel

SECRETARY:

S R Patel

REGISTERED OFFICE:

Mercia House

15 Galena Close

Tamworth

Staffordshire

B77 4AS

REGISTERED NUMBER:

03812402 (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 of the company and the group for the year ended 31 August 2025.

REVIEW OF BUSINESS

The Radis group of companies predominately provides care and support services in community settings across three reporting divisions; Domiciliary Care, Extra Care Housing and Specialist Services.

The group increased turnover to £60,303,935 (2024: £56,573,077).  The increase in turnover was achieved through fee increases on existing contracts, growth in Extra Care and maturing Supported Living contracts.

The gross profit margin has decreased to 29.0% (2024: 29.4%).

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 continuing to be profitable. The Operating result for this year before Interest, Tax, Depreciation and Amortisation (EBITDA) being a profit of £514,505 (2024: £639,369).

The group 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 £17,513,026 (2024: £16,600,848).

We expect to see further investment in wages, IT costs and new contracts and services which the group 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 group maintains a pipeline of tender opportunities to promote a diversity of contracts and selectively tenders for sustainable contracts. The group has a good track record of winning new contracts and retaining contracts on renewal.

COMPLIANCE WITH REGULATIONS

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

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 group 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 continue to grow organically over the next 12 months.

KEY PERFORMANCE INDICATORS

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

2025

2024

£

£

Turnover

60,303,935

56,573,077

Gross Margin

29.0%

29.4%

EBITDA

514,505

639,369

PROMOTING THE SUCCESS OF THE GROUP

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 group for the benefit of its members as a whole. The directors consider the group’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 group 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 group’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.

In order to maintain the group’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 group’s policies and procedures to reflect those that are relevant to the size and industry of the business. The group’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 group 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 and the group for the year ended 31 August 2025.

PRINCIPAL ACTIVITIES

DIVIDENDS

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

Ordinary dividends were paid amounting to £164,000.

The directors do not recommend payment of a further dividend.

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

DISABLED PERSONS

The group'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 group'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 group's performance.

FUTURE DEVELOPMENTS

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

STREAMLINED ENERGY AND CARBON REPORTING

Radis 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 109 tCO2e or 19% 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.

Energy consumption

2025

2024

kWh

kWh

Aggregate of energy consumption in the year

1,990,109

2,442,108

2025

2024

Emissions of CO2 equivalent

metric tonnes

metric tonnes

Scope 1 - direct emissions

- Gas combustion

17

15

- Fuel consumed for owned transport

37

56

54

71

Scope 2 - indirect emissions

- Electricity purchased

22

32

Scope 3 - other indirect emissions

- Fuel consumed by transport not owned by the group

392

474

Total gross emissions

468

577

Intensity ratio

Tonnes CO2e 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 group and company and of the profit or loss of the group 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

group and company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group and company's transactions and disclose with reasonable accuracy at any time the financial position of the group and 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 group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS

The auditors,  Mercer & Hole LLP, are 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

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report.  We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.  We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

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

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

Other information

The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Directors' Report, but does not include the financial statements and our Auditors' Report thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.  We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

-

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

-

the Group 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-

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

-

certain disclosures of directors' remuneration specified by law are not made; or

-

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

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page 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 group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

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 group and the industry in which it operates and considered the risk of acts by the group 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

3

60,303,935

56,573,077

Cost of sales

42,786,740

39,961,128

GROSS PROFIT

17,517,195

16,611,949

Administrative expenses

17,513,026

16,600,848

4,169

11,101

Other operating income

4

202,889

169,779

OPERATING PROFIT

7

207,058

180,880

Interest receivable and similar income

9

74,285

72,010

281,343

252,890

Gain/loss on revaluation of investment

property

11,516

(60,000

)

292,859

192,890

Interest payable and similar expenses

10

108,984

93,621

PROFIT BEFORE TAXATION

183,875

99,269

Tax on profit

11

42,675

41,197

PROFIT FOR THE FINANCIAL YEAR

141,200

58,072

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE

YEAR

141,200

58,072

Profit attributable to:

Owners of the parent

141,200

58,072

Total comprehensive income attributable to:

Owners of the parent

141,200

58,072

FIXED ASSETS

Intangible assets

14

940,357

1,121,004

Tangible assets

15

1,330,004

1,650,650

Investments

16

-

-

Investment property

17

850,000

505,000

3,120,361

3,276,654

CURRENT ASSETS

Debtors: amounts falling due within one

year

18

7,082,750

6,069,024

Debtors: amounts falling due after more

than one year

18

1,062,924

901,928

Cash at bank and in hand

2,053,128

1,561,811

10,198,802

8,532,763

CREDITORS

Amounts falling due within one year

19

7,068,610

5,523,745

NET CURRENT ASSETS

3,130,192

3,009,018

TOTAL ASSETS LESS CURRENT LIABILITIES

6,250,553

6,285,672

CREDITORS

Amounts falling due after more than one

year

20

(1,286,764

)

(1,341,450

)

PROVISIONS FOR LIABILITIES

22

(55,366

)

(12,999

)

NET ASSETS

4,908,423

4,931,223

CAPITAL AND RESERVES

Called up share capital

23

126,316

126,316

Share premium

24

93,684

93,684

Other non distributable reserves

24

11,516

-

Retained earnings

24

4,676,907

4,711,223

SHAREHOLDERS' FUNDS

4,908,423

4,931,223

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

FIXED ASSETS

Intangible assets

14

-

-

Tangible assets

15

371,415

772,262

Investments

16

1,184,484

1,184,484

Investment property

17

345,000

-

1,900,899

1,956,746

CURRENT ASSETS

Debtors: amounts falling due within one

year

18

7,898

-

Cash at bank

52,755

13,066

60,653

13,066

CREDITORS

Amounts falling due within one year

19

434,434

388,428

NET CURRENT LIABILITIES

(373,781

)

(375,362

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,527,118

1,581,384

CREDITORS

Amounts falling due after more than one

year

20

(1,286,764

)

(1,341,450

)

NET ASSETS

240,354

239,934

CAPITAL AND RESERVES

Called up share capital

23

126,316

126,316

Share premium

24

93,684

93,684