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Registered number:
For the Year Ended
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Foxholes Nursing Home Limited
Company Information
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Foxholes Nursing Home Limited
Contents
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Foxholes Nursing Home Limited
Strategic report
For the Year Ended 31 August 2025
The director present the strategic report for the year ended 31 August 2025.
The Company continued to trade successfully during the year ended 31 August 2025. Both homes maintained a strong focus on quality of care, resident wellbeing, compliance, staff retention and prudent financial management.
Occupancy across the homes remained broadly stable during the year, with the directors continuing to manage admissions carefully to preserve the quality and homely nature of the service. Both homes continue to be rated “Good” by the Care Quality Commission. During the year, the Company continued to invest in its estate and facilities. At Foxholes, the major landscaping and outdoor amenity programme progressed further, following substantial investment in new accessible pathways, specialist lighting, water features, extensive planting, and sustainability improvements including rainwater harvesting and irrigation. These works are intended to improve resident wellbeing, access to outdoor space and the overall environment for residents, families and staff. At Sloe Hill Residential Home, the Company continued to invest in maintenance and improvement works due to the condition of the property inherited from the previous owner. The directors continue to consider options for the longer-term improvement of the site, including possible planning opportunities, fire safety enhancements, parking improvements and future building upgrades. No material commitment has been made at this stage, and any future scheme would remain subject to planning, funding, operational demand and feasibility. The directors intend to continue investing prudently in both homes, with the aim of maintaining high standards of care, improving the resident experience, supporting staff, and managing occupancy and costs carefully.
Principal activity
The principal activity of the Company during the year continued to be the provision of high-quality residential care for older people. The Company operates Foxholes Care Home, Pirton Road, Hitchin, Hertfordshire SG5 2EN, and Sloe Hill Lodge, St Ippolyts, Hitchin.
The directors consider the principal risks and uncertainties facing the Company to include staffing, regulatory compliance, occupancy levels, property maintenance, and inflationary pressure on operating costs.
The care sector continues to face recruitment and retention challenges. The Company seeks to manage this through appropriate pay, training, staff support and a positive working environment. The Company operates in a regulated sector and is subject to oversight by the Care Quality Commission. The directors continue to monitor compliance closely and invest in systems, training and management oversight to support safe and effective care. Occupancy levels remain important to the Company’s financial performance. The directors monitor enquiries, admissions, room mix and pricing carefully, while ensuring that admissions remain appropriate for the homes and the needs of existing residents. The Company’s properties require ongoing maintenance and capital investment. The directors continue to allocate resources to ensure both homes remain safe, compliant and suitable for residents and staff.
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Foxholes Nursing Home Limited
Strategic report (continued)
For the Year Ended 31 August 2025
The business has performed well in the year with turnover of £6,150,058 (2024: £5,872,588). Profit before tax for
the period was £2,491,093 (2024: £2,308,162). The company's balance sheet remained strong in the year with net assets standing at £11,996,313 at the end of the year (2024: £9,971,155).
The turnover, gross margin, operating profit and net assets are considered as the key performance indicators by the Company.
This report was approved by the board on 28 May 2026 and signed on its behalf.
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Foxholes Nursing Home Limited
Director's report
For the Year Ended 31 August 2025
The director presents her report and the financial statements for the year ended 31 August 2025.
The director is responsible for preparing the Strategic report, the Director's report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the director is required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable her to ensure that the financial statements comply with the Companies Act 2006. She is also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the year, after taxation, amounted to £2,025,158 (2024 - £1,898,772).
No dividends will be distributed for the year ended 31 August 2025 (2024: £nil).
The director who served during the year was:
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Foxholes Nursing Home Limited
Director's report (continued)
For the Year Ended 31 August 2025
After the year end, the market value of the investments in cryptocurrency has fallen. The investments were stated at their revalued amount at the balance sheet date and the subsequent decrease has been treated as a non-adjusting post balance sheet event and no adjustment has therefore been made to the financial statements.
At the date of approval of the financial statements, the estimated market value of the investments was £800,070, compared with a carrying value at the balance sheet date of £1,267,174.
The auditors, Mantax Lynton, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on 28 May 2026 and signed on its behalf.
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Foxholes Nursing Home Limited
Independent auditors' report to the members of Foxholes Nursing Home Limited
We have audited the financial statements of Foxholes Nursing Home Limited (the 'Company') for the year ended 31 August 2025, which comprise the Statement of comprehensive income, the Statement of financial position, the Statement of cash flows, the Statement of changes in equity and the related notes, 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).
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 United Kingdom, including the Financial Reporting Council'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.
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.
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Foxholes Nursing Home Limited
Independent auditors' report to the members of Foxholes Nursing Home Limited (continued)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The director is responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic report and the Director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic report and the Director's report have been prepared in accordance with applicable legal requirements.
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 Director's report.
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Foxholes Nursing Home Limited
Independent auditors' report to the members of Foxholes Nursing Home Limited (continued)
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.
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 obtained an understanding of the legal and regulatory frameworks within which the company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006 and relevant taxation legislation.
∙We identified the greatest risks of material impact on the financial statements from irregularities, including fraud, to be override of controls by management, inappropriate revenue recognition, carrying value of intangibles and going concern. Our audit procedures to respond to these risks included enquiries of management about their own identification and assessment of the risks of irregularities, reviewing accounting estimates for biases, corroborating revenue recognised by the company through agreements to supporting documentation and ensuring accounting policies are appropriate under United Kingdom Generally Accepted Accounting Practice and applicable law.
∙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. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.
∙These inherent limitations are particularly significant in the case of misstatement resulting from fraud as this may involve sophisticated schemes designed to avoid detection, including deliberate failure to record transactions, collusion or the provision of intentional misrepresentations.
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.
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Foxholes Nursing Home Limited
Independent auditors' report to the members of Foxholes Nursing Home Limited (continued)
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.
for and on behalf of
Chartered Accountants & Statutory Auditors
Suite 207 Equitable House
7 General Gordon Square
United Kingdom
28 May 2026
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Foxholes Nursing Home Limited
Statement of comprehensive income
For the Year Ended 31 August 2025
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Foxholes Nursing Home Limited
Registered number: 02796155
Statement of financial position
As at
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 May 2026.
The notes on pages 14 to 28 form part of these financial statements.
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Foxholes Nursing Home Limited
Statement of changes in equity
For the Year Ended 31 August 2025
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Foxholes Nursing Home Limited
Statement of cash flows
For the Year Ended 31 August 2025
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Foxholes Nursing Home Limited
Analysis of Net Debt
For the Year Ended 31 August 2025
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Foxholes Nursing Home Limited
Notes to the financial statements
For the Year Ended 31 August 2025
Foxholes Nursing Home Limited is a company, limited by shares, registered in England and Wales. The company's registration number is 02796155 and has its registered office address at Pirton Road, Hitchin, Herts, SG5 2EN.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
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Foxholes Nursing Home Limited
Notes to the financial statements
For the Year Ended 31 August 2025
2.Accounting policies (continued)
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Foxholes Nursing Home Limited
Notes to the financial statements
For the Year Ended 31 August 2025
2.Accounting policies (continued)
Goodwill
Other intangible assets
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
No depreciation is charged in the year of acquisition of assets. A full year depreciation is charged in the year of disposal.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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Foxholes Nursing Home Limited
Notes to the financial statements
For the Year Ended 31 August 2025
2.Accounting policies (continued)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement
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Foxholes Nursing Home Limited
Notes to the financial statements
For the Year Ended 31 August 2025
2.Accounting policies (continued)
of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
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 the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
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Foxholes Nursing Home Limited
Notes to the financial statements
For the Year Ended 31 August 2025
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Foxholes Nursing Home Limited
Notes to the financial statements
For the Year Ended 31 August 2025
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Foxholes Nursing Home Limited
Notes to the financial statements
For the Year Ended 31 August 2025
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Foxholes Nursing Home Limited
Notes to the financial statements
For the Year Ended 31 August 2025
11.Taxation (continued)
There were no factors that may affect future tax charges.
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Foxholes Nursing Home Limited
Notes to the financial statements
For the Year Ended 31 August 2025
12.Intangible assets (continued)
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Foxholes Nursing Home Limited
Notes to the financial statements
For the Year Ended 31 August 2025
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Foxholes Nursing Home Limited
Notes to the financial statements
For the Year Ended 31 August 2025
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Foxholes Nursing Home Limited
Notes to the financial statements
For the Year Ended 31 August 2025
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Foxholes Nursing Home Limited
Notes to the financial statements
For the Year Ended 31 August 2025
Profit and loss account
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £185,085 (2024: £40,505).
Contributions totaling £20,017 (2024: £9,762) were payable to the fund at the reporting date and are included in creditors.
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Foxholes Nursing Home Limited
Notes to the financial statements
For the Year Ended 31 August 2025
At the date of approval of the financial statements, the estimated market value of the investments was £800,070, compared with a carrying value at the balance sheet date of £1,267,174.
The ultimate controlling party at reporting date is Usha Gandecha by virtue of her shareholding in the company.
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