Registration number: 01469631

Visram Limited

Contents

Company Information	1
Strategic Report	2
Directors' Report	3
Statement of Directors' Responsibilities	4
Independent Auditor's Report	5 to 7
Consolidated Profit and Loss Account	8
Consolidated Balance Sheet	9
Balance Sheet	10
Consolidated Statement of Changes in Equity	11
Statement of Changes in Equity	12
Consolidated Statement of Cash Flows	13
Notes to the Financial Statements	14 to 30

Visram Limited

Company Information

Directors

Y Somji F Visram K Visram M R P Visram N M Visram S Visram

Company secretary

S Visram

Registered office

5-7 Ranvilles Lane Fareham Hampshire PO14 3DS

Auditors

Hazlewoods LLP Winsdor House Bayshill Road Cheltenham GL50 3AT

Visram Limited

Strategic Report for the Year Ended 31 August 2025

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

Principal activity

The principal activity of the group is that of residential and nursing homes.

Fair review of the business

The results for the year, which are set out in the profit and loss account, show turnover of £7,782,432 (2024 - £7,197,760) and an operating profit of £202,041 (2024 - £556,560). At 31 August 2025, the group had net assets of £9,412,390 (2024 - £9,896,273). The directors consider the performance for the year and the financial position at the year end to be satisfactory.

The group's key financial and other performance indicators during the year were as follows:

Financial KPIs	Unit	2025	2024
Revenue	£	7,782,432	7,197,760
Profit/(loss) before tax	£	(45,380)	498,365
Dividends	£	350,000	400,000
Net assets	£	9,412,222	9,896,273

Principal risks and uncertainties

The Group's activities are exposed to a limited financial risk including credit risk, cash flow risk and liquidity. The Group's principal financial assets are bank balances, trade and other receivables and investments.

Liquidity risk is the risk that the Group will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or other financial assets. The Group's approach to managing liquidity risk is to ensure, as far as possible, that it will always have sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Group's reputation. The Group's activities expose it to limited cash flow risk because the liquidity levels are sufficient and debts are usually settled in advance and liabilities are paid in arrears. The group monitors its cash balance on a regular basis to ensure that all foreseeable future needs can be met from available resources.

Credit risk is the risk of financial loss to the Group if a customer or a counter party to a financial instrument fails to meet its contractual obligations. The group's credit risk is primarily attributed to trade receivables and cash at bank. The amounts presented in the balance sheet are recoverable and are monitored on an ongoing basis. The credit risk of liquid funds is limited because the counter parties are banks with high credit ratings. Although the group has a significant concentration of credit risk, this is mitigated as the counterparts are mainly local authorities and other institutions such as the NHS with high credit ratings.

Market risk is the risk that changes in market prices, such as foreign exchange rates and interest rates will affect the Group's income or the value of its holdings in financial instruments. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimising the return. The company manages its market risk exposure as under:

Currency risk: The Group's functional and presentational currency is GB Pound and accordingly, there is little currency risk on transactions.

Interest rate risk: Interest rate risk arises from the possibility that changes in interest rates will affect the interest expense of the Group. the Group's exposure to interest rate risk is primarily on bank borrowings. The interest rate on the Group's financial instruments is based on market rates. Management mitigates interest rate risk by negotiating favourable rates with its lenders.

Capital management: The Group's policy is to maintain a strong capital base to maintain investor, creditor and market confidence and to sustain future development of the business. There are no changes in the Group's approach to capital management during the current period.

Approved by the Board on 27 May 2026 and signed on its behalf by:

N M Visram
Director

Visram Limited

Directors' Report for the Year Ended 31 August 2025

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

Directors of the company

The directors who held office during the year were as follows:

Y Somji

F Visram

K Visram

M R P Visram

N M Visram

S Visram

Future developments

the directors intend for the Group to continue its strategy of organic growth. During 2026, the directors are keen to consolidate the progress made in 2025 and create a robust foundation for future growth.

Disclosure of information to the auditor

Each director has taken the steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditor is unaware.

Reappointment of auditors

Hazlewoods LLP have expressed their willingness to continue in office.

Approved by the Board on 27 May 2026 and signed on its behalf by:

N M Visram
Director

Visram Limited

Statement of Directors' Responsibilities

The directors are responsible for preparing the Strategic Report, 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 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 these financial statements, the directors are required to:

•	select suitable accounting policies and apply them consistently;
•	make judgements and accounting estimates that are reasonable and prudent;
•	state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
•	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 group's and the company's transactions and disclose with reasonable accuracy at any time the financial position of the group and 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 group and the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Visram Limited

Independent Auditor's Report to the Members of Visram Limited

Opinion

We have audited the financial statements of Visram Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 August 2025, which comprise the Consolidated Profit and Loss Account, Consolidated Balance Sheet, Balance Sheet, Consolidated Statement of Changes in Equity, Statement of Changes in Equity, Consolidated Statement of Cash Flows, 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 group's and the parent company's affairs as at 31 August 2025 and of the group's loss for the year then ended;
•	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
•	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor 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 ability to continue as a going concern for a period of at least twelve months from when the original financial statements were 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 included in the annual report, other than the financial statements and our auditor’s 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

Visram Limited

Independent Auditor's Report to the Members of Visram Limited

Opinion on other matter 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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

•	the Strategic Report and 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 our 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 and 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 4, 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 is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the 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.

Auditor’s responsibilities for the audit of the financial statements

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

Extent to which the audit was capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We considered the nature of the group’s industry and its control environment and reviewed the groups’s documentation of their policies and procedures relating to fraud and compliance with laws and regulations. We also enquired of management about their own identification and assessment of the risks of irregularities.

We obtained an understanding of the legal and regulatory framework that the group operates in and identified the key laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements, including the UK Companies Act and tax legislation, and, those that do not have a direct effect on the financial statements but compliance with which may be fundamental to the group’s ability to operate or to avoid a material penalty.

We discussed among the audit engagement team regarding the opportunities and incentives that may exist within the organisation for fraud and how and where fraud might occur in the financial statements.

Visram Limited

Independent Auditor's Report to the Members of Visram Limited

In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override of controls. In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments; assessed whether the judgements made in accounting estimates are indicative of a potential bias; and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business.

In addition to the above, our procedures to respond to the risks identified included the following:

•	reviewing financial statement disclosures by testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;

•	performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatements due to fraud;

•	enquiring of management concerning actual and potential litigation and claims and instances of non-compliance with laws and regulations; and

•	reading minutes of meetings of those charged with governance.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

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

Use of our report

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

Joanne Hartness (Senior Statutory Auditor)
For and on behalf of Hazlewoods LLP, Statutory Auditor

Winsdor House
Bayshill Road
Cheltenham
GL50 3AT

27 May 2026

Visram Limited

Consolidated Profit and Loss Account for the Year Ended 31 August 2025

	Note	2025 £	2024 £
Turnover	3	7,782,432	7,197,760
Cost of sales		(5,526,790)	(4,967,212)
Gross profit		2,255,642	2,230,548
Administrative expenses		(2,066,745)	(1,703,105)
Other operating income	4	12,976	29,117
Operating profit	5	201,873	556,560
Other interest receivable and similar income	6	15,172	33,625
Interest payable and similar expenses	7	(262,425)	(91,820)
(Loss)/profit before tax		(45,380)	498,365
Tax on (loss)/profit	11	(88,671)	(200,091)
(Loss)/profit for the financial year		(134,051)	298,274
Profit/(loss) attributable to:
Owners of the company		65,295	344,761
Minority interests		(199,346)	(46,487)
		(134,051)	298,274

The above results were derived from continuing operations.

The group has no recognised gains or losses for the year other than the results above.

Visram Limited

(Registration number: 01469631)
Consolidated Balance Sheet as at 31 August 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	13	14,534,565	13,980,682
Investment property	14	304,000	305,000
Investments	15	101	100
		14,838,666	14,285,782
Current assets
Stocks		3,000	7,785
Debtors	16	247,422	1,205,497
Cash at bank and in hand		233,028	228,976
		483,450	1,442,258
Creditors: Amounts falling due within one year	17	(1,861,511)	(1,526,074)
Net current liabilities		(1,378,061)	(83,816)
Total assets less current liabilities		13,460,605	14,201,966
Creditors: Amounts falling due after more than one year	17	(2,343,935)	(2,437,598)
Provisions for liabilities	11	(1,704,448)	(1,868,095)
Net assets		9,412,222	9,896,273
Capital and reserves
Called up share capital	20	25,000	25,000
Revaluation reserve		4,648,850	4,648,850
Fair value reserve		39,700	39,700
Retained earnings		4,825,307	5,110,012
Equity attributable to owners of the company		9,538,857	9,823,562
Minority interests		(126,635)	72,711
Shareholders' funds		9,412,222	9,896,273

Approved and authorised by the Board on 27 May 2026 and signed on its behalf by:
 

N M Visram
Director

Visram Limited

(Registration number: 01469631)
Balance Sheet as at 31 August 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	13	6,150,770	6,303,852
Investment property	14	304,000	305,000
Investments	15	804,520	804,520
		7,259,290	7,413,372
Current assets
Stocks		-	4,000
Debtors	16	5,291,798	4,607,100
Cash at bank and in hand		129,445	147,311
		5,421,243	4,758,411
Creditors: Amounts falling due within one year	17	(1,202,240)	(810,753)
Net current assets		4,219,003	3,947,658
Total assets less current liabilities		11,478,293	11,361,030
Creditors: Amounts falling due after more than one year	17	-	(40,875)
Provisions for liabilities	11	(1,407,856)	(1,417,111)
Net assets		10,070,437	9,903,044
Capital and reserves
Called up share capital	20	25,000	25,000
Revaluation reserve		4,112,031	4,112,031
Fair value reserve		39,700	39,700
Retained earnings		5,893,706	5,726,313
Shareholders' funds		10,070,437	9,903,044

The company made a profit after tax for the financial year of £517,393 (2024 - profit of £454,560).

Approved and authorised by the Board on 27 May 2026 and signed on its behalf by:
 

N M Visram
Director