Elmwood Care Homes Limited

Contents

Balance Sheet	1
Notes to the Financial Statements	2 to 11

Elmwood Care Homes Limited

Balance Sheet

30 September 2025

	Note	2025 £	Unaudited 2024 £
Fixed assets
Intangible assets	4	565	-
Tangible assets	5	525,046	522,686
		525,611	522,686
Current assets
Stocks	6	10,319	9,319
Debtors	7	303,152	365,497
Cash at bank and in hand		124,465	86,447
		437,936	461,263
Creditors: Amounts falling due within one year	8	(792,644)	(700,725)
Net current liabilities		(354,708)	(239,462)
Total assets less current liabilities		170,903	283,224
Creditors: Amounts falling due after more than one year	8	(379,882)	(783,101)
Provisions for liabilities		(122,186)	-
Net liabilities		(331,165)	(499,877)
Capital and reserves
Called up share capital	9	10	10
Profit and loss account		(331,175)	(499,887)
Shareholder's deficit		(331,165)	(499,877)

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 23 May 2026 and signed on its behalf by:
 

......................................... Mr V Thayanandarajah Director

......................................... Mr I S Jarvis Director

Company Registration Number: 14990802

Elmwood Care Homes Limited

Notes to the Financial Statements

Year Ended 30 September 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Kingsley House
Clapham Road South
Lowestoft
Suffolk
NR32 1QS
United Kingdom

The business address is the same as the registered office address, although the entity operates care homes in Suffolk and Norfolk, England.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

At the year end date, the company had net liabilities of £331,165 (2024 - £499,877) and incurred a net profit for the period of £168,712 (2024 - net loss of £499,887).

The directors believe, with the support of the parent company and the directors, the company has sufficient working capital to continue to trade for the foreseeable future.

Therefore, the directors continue to adopt a going concern basis in the preparation of the financial statements.

The financial statements do not include any adjustments that would result from any change in the company's circumstances such that the going concern basis would no longer be appropriate.

Elmwood Care Homes Limited

Notes to the Financial Statements

Year Ended 30 September 2025

Key accounting judgements and sources of estimation uncertainty

In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The key estimates that have a significant effect on the amounts recognised in the financial statements are described below:

Group recharges
Cost re-allocations are required in order to fairly reflect the cost of management services borne by group companies and entities under common control. These are based on judgemental estimates of the proportion of management time spent in areas of the business which are different from where the payroll cost is originally processed, and where joint contracts of employment are in place.

Intercompany loan interest
The business trades as part of a group. In addition to recharges of central costs and other trading settlements, management charges are raised to reflect the cost of funding arranged at a group level. Significant balances with group and other connected parties arise, these balances are due after more than one year. The lending company charges interest on these loans using a market rate for an equivalent third party loan.

The carrying value of amounts owed to/from group companies and entities under common control can be found in notes 7 and 8.

Management are required to make estimates as to the outflow of economic benefits which will be required to settle an obligation in making provisions.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities.

Income relates to monies received for the provision of care home services and is recognised on a straight line basis over the period of residence.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Elmwood Care Homes Limited

Notes to the Financial Statements

Year Ended 30 September 2025

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Freehold property	2% Straight line
Furniture, fittings & equipment	20-100% Straight line
Motor Vehicles	20% Straight line
Assets under construction	Not depreciated

Intangible assets

Intangible assets are stated in the balance sheet at cost, less subsequent accumulated amortisation. Costs include software development expenditure.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Software	20% Straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Elmwood Care Homes Limited

Notes to the Financial Statements

Year Ended 30 September 2025

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Loans with group companies and entities under common control; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for loans with group companies and entities under common control, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Loans with group companies and entities under common control are initially measured at transaction price, including transaction costs and are subsequently carried at amortized cost using the effective interest method.

 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 108 (2024 - 91).

Elmwood Care Homes Limited

Notes to the Financial Statements

Year Ended 30 September 2025

4	Intangible assets

	Software  £
Cost or valuation
Additions acquired separately	706
At 30 September 2025	706
Amortisation
Amortisation charge	141
At 30 September 2025	141
Carrying amount
At 30 September 2025	565

Elmwood Care Homes Limited

Notes to the Financial Statements

Year Ended 30 September 2025

6

Stocks

	2025 £	Unaudited 2024 £
Other inventories	10,319	9,319

7

Debtors

	2025 £	Unaudited 2024 £
Trade debtors	117,786	128,368
Prepayments	83,157	68,476
Other debtors	2,670	142,972
Accrued income	99,539	25,681
	303,152	365,497

8

Creditors

	2025 £	Unaudited 2024 £
Due within one year
Trade creditors	60,604	138,030
Taxation and social security	77,843	119,468
Accruals and deferred income	490,063	249,170
Other creditors	164,134	194,057
	792,644	700,725

 

	2025 £	Unaudited 2024 £
Due after one year
Amounts owed to group undertakings	379,882	783,101

Elmwood Care Homes Limited

Notes to the Financial Statements

Year Ended 30 September 2025

9	Share capital

Allotted, called up and fully paid shares

	2025		Unaudited 2024
	No.	£	No.	£
Ordinary share capital of £1 each	10	10	10	10

10	Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

	2025 £	Unaudited 2024 £
Not later than one year	8,375	-
Later than one year and not later than five years	11,851	-
	20,226	-

The amount of non-cancellable operating lease payments recognised as an expense during the year was £12,027 (2024 - £Nil).

11	Financial commitments, guarantees and contingencies

The company is party to an unlimited guarantee with related parties in favour of Barclays Bank PLC. The bank borrowings are secured by a charge over the freehold properties owned by the related parties.

The bank borrowing of the companies at the balance sheet date amounted to:

Other related parties: £37,228,750 (2024 - £33,223,926)

Included within the tangible fixed assets NBV of £525,046 is £143,708 (2024 - £Nil) relating to assets held under hire purchase agreements payable by entities under common control. The depreciation charged to the financial statements in the year in respect of such assets amounted to £25,174 (2024 - £Nil).
 

Elmwood Care Homes Limited

Notes to the Financial Statements

Year Ended 30 September 2025

12	Related party transactions

The company has taken advantage of the exemption provided by FRS102 to not disclose transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member.

Summary of transactions with other related parties

During the year the company entered into various transactions with entities under common control. Transactions entered into, and trading balances outstanding at the year end, are as shown below. Outstanding balances with entities are unsecured, interest bearing and cash settled.

Expenditure with and payables to related parties

2025	Entities under common control £
Rendering of services	16,000

Loans to related parties

2025	Entities under common control £
Advanced	1,346,913
Repaid	(1,346,913)
At end of period	-

2024	Entities under common control £
Advanced	1,913,588
Repaid	(1,913,588)
At end of period	-

Terms of loans to related parties

The loans have a 366 day notice period for repayment. Interest is charged on these balances and the amounts are presented in other creditors falling due after more than one year and other debtors receivable after more than one year.

Elmwood Care Homes Limited

Notes to the Financial Statements

Year Ended 30 September 2025

Loans from related parties

2025	Entities under common control £
Advanced	611,400
Repaid	(611,400)
At end of period	-

Terms of loans from related parties

The loans have a 366 day notice period for repayment. Interest is charged on these balances and the amounts are presented in other creditors falling due after more than one year and other debtors receivable after more than one year.

13	Audit report

The Independent Auditors' Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report was James Barrett, who signed for and on behalf of PKF Francis Clark on 2 June 2026.

14	Parent and ultimate parent undertaking

The company's immediate parent is Elmwood Healthcare Properties Limited, incorporated in England and Wales.

 The ultimate parent is Omatta Investment Holding (Jersey) Limited, incorporated in Jersey.

  These financial statements are available upon request from Kingsley House, Clapham Road, Lowestoft, Suffolk, NR32 1QS

 The ultimate controlling party is Thayan Family Office Limited.