Coxwell Care Limited Group accounts (Group and Company)

COMPANY REGISTRATION NUMBER: 05587260

COXWELL CARE LIMITED

FINANCIAL STATEMENTS

31 March 2025

COXWELL CARE LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

Contents	Page

Strategic report	1

Directors' report	3

Independent auditor's report to the members	5

Consolidated statement of income and retained earnings	9

Company statement of income and retained earnings	10

Consolidated statement of financial position	11

Company statement of financial position	12

Consolidated statement of cash flows	13

Notes to the financial statements	14

COXWELL CARE LIMITED

STRATEGIC REPORT

YEAR ENDED 31 MARCH 2025

The directors present their strategic report and the financial statements of the group and company for the year. Principal activities and business review The principal activity of the group during the year was that of property holding and managing & operating residential nursing homes . The directors are pleased to report a group profit for the financial year, the results are given in the statement of comprehensive income. Key performance indictors The main financial and non-financial KPIs of the business are occupancy, turnover and cash management. The key performance indicators all performed in accordance with expectations for the year.

Principal risks and uncertainties The principal risks and uncertainties facing the group are: Regulation risk. The group is regulated by the Care Quality Commission, which oversees the standards of care. Fluctuations in property values, which would affect the net asset value. Use of financial instruments The group does not use financial instruments except for the bank loans used to purchase properties. Financial risk management objectives and policies The primary financial risk management objective is to ensure sufficient working capital for the group, this is achieved by careful management of cash balances.

Future developments The group is continually looking for opportunities to grow the business.

This report was approved by the board of directors on 30 June 2026 and signed on behalf of the board by:

A Sheikh

Director

Registered office:

Castle House

69 -70 Victoria Street

Englefield Green

Surrey

TW20 OQX

COXWELL CARE LIMITED

DIRECTORS' REPORT

YEAR ENDED 31 MARCH 2025

The directors present their report and the financial statements of the group for the year ended 31 March 2025 .

Directors

The directors who served the company during the year were as follows:

J Sheikh
S Ali
A Sheikh

Dividends

The directors do not recommend the payment of a dividend.

Directors' responsibilities statement

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 the company and 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 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 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. Auditor

Each of the persons who is a director at the date of approval of this report confirms that:

- so far as they are aware, there is no relevant audit information of which the group and the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the group and the company's auditor is aware of that information.

This report was approved by the board of directors on 30 June 2026 and signed on behalf of the board by:

A Sheikh

Director

Registered office:

Castle House

69 -70 Victoria Street

Englefield Green

Surrey

TW20 OQX

COXWELL CARE LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF COXWELL CARE LIMITED

YEAR ENDED 31 MARCH 2025

Opinion

We have audited the financial statements of Coxwell Care Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2025 which comprise the consolidated statement of income and retained earnings, company statement of income and retained earnings, consolidated statement of financial position, company statement of financial position, consolidated statement of cash flows 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 FRS 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 of the parent company's affairs as at 31 March 2025 and of the group's profit for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - 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's 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 or 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 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. 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.

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 group and the parent 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 in relation to which 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 directors' responsibilities statement, 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. 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: Based on our understanding of the company and the industry in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to the acts by the company which were contrary to applicable laws and regulations including fraud and we considered the extent to which noncompliance might have a material effect on the financial statements. The main laws and regulations affecting the company include compliance with the Care Quality Commission (CQC) and the Building Safety Regulations along with Employment Regulations. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to understated revenue and profit. Audit procedures performed included: review of the financial statement disclosures to underlying supporting documentation, review of correspondence with and reports to the regulators, review of correspondence with legal advisors, enquiries of management and in so far as they related to the financial statements, and testing of journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud. There are inherent limitations in the audit procedures described above and the further removed noncompliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, 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 or intentional misrepresentations, or through collusion. As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the group's internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. - Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the group's or the parent company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the group or the parent company to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. - Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. 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.

Charles Homan

(Senior Statutory Auditor)

For and on behalf of

UHY Affinia

Chartered Accountants & Statutory Auditors

168 Church Road

Hove

East Sussex

BN3 2DL

30 June 2026

COXWELL CARE LIMITED

CONSOLIDATED STATEMENT OF INCOME AND RETAINED EARNINGS

YEAR ENDED 31 MARCH 2025

		2025	2024
Note		£	£
Turnover	4	5,050,213	3,994,788

Cost of sales	318,883	315,440
	-------------	-------------
Gross profit	4,731,330	3,679,348

Administrative expenses		3,066,938	3,369,161
		-------------	-------------
Operating profit	5	1,664,392	310,187

Interest payable and similar expenses	8	172,110	182,203
		-------------	-------------
Profit before taxation		1,492,282	127,984

Tax on profit	9	372,873	43,972
		-------------	----------
Profit for the financial year and total comprehensive income		1,119,409	84,012
		-------------	----------

Retained earnings at the start of the year	7,462,635	7,378,623
	-------------	-------------
Retained earnings at the end of the year	8,582,044	7,462,635
	-------------	-------------

All the activities of the group are from continuing operations.

COXWELL CARE LIMITED

COMPANY STATEMENT OF INCOME AND RETAINED EARNINGS

YEAR ENDED 31 MARCH 2025

	2025	2024
Note	£	£
Profit for the financial year and total comprehensive income	54,629	48,048
Retained earnings at the start of the year	1,716,183	1,668,135
	-------------	-------------
Retained earnings at the end of the year	1,770,812	1,716,183
	-------------	-------------

COXWELL CARE LIMITED

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	10		12,275,918	12,253,473

Current assets

Debtors	12	11,360,474	6,787,206
Cash at bank and in hand		212,121	80,401
		---------------	-------------
		11,572,595	6,867,607

Creditors: amounts falling due within one year	13	4,617,043		1,094,004
		---------------		-------------
Net current assets			6,955,552	5,773,603
			---------------	---------------
Total assets less current liabilities			19,231,470	18,027,076

Creditors: amounts falling due after more than one year	14		2,213,021	2,139,051

Provisions	16	2,098,022	2,087,007
		---------------	---------------
Net assets		14,920,427	13,801,018
		---------------	---------------

Capital and reserves

Called up share capital	19	2	2
Other reserve	20	6,338,381	6,338,381
Profit and loss account	20	8,582,044	7,462,635
		---------------	---------------
Shareholders funds		14,920,427	13,801,018
		---------------	---------------

These financial statements were approved by the board of directors and authorised for issue on 30 June 2026 , and are signed on behalf of the board by:

A Sheikh

Director

Company registration number: 05587260

COXWELL CARE LIMITED

COMPANY STATEMENT OF FINANCIAL POSITION

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	10	12,111,072	12,111,072
Investments	11	100	100
		---------------	---------------
		12,111,172	12,111,172

Current assets

Debtors	12	1,560,132	1,404,491
Cash at bank and in hand		1,629	265
		-------------	-------------
		1,561,761	1,404,756

Creditors: amounts falling due within one year	13	1,334,836		1,270,440
		-------------		-------------
Net current assets			226,925	134,316
			---------------	---------------
Total assets less current liabilities			12,338,097	12,245,488

Creditors: amounts falling due after more than one year	14		2,171,726	2,139,051

Provisions	16	2,057,176	2,051,871
		---------------	---------------
Net assets		8,109,195	8,054,566
		---------------	---------------

Capital and reserves

Called up share capital	19	2	2
Other reserve	20	6,338,381	6,338,381
Profit and loss account	20	1,770,812	1,716,183
		-------------	-------------
Shareholders funds		8,109,195	8,054,566
		-------------	-------------

The profit for the financial year of the parent company was £ 54,629 (2024: £ 48,048 ).

These financial statements were approved by the board of directors and authorised for issue on 30 June 2026 , and are signed on behalf of the board by:

A Sheikh

Director

Company registration number: 05587260

COXWELL CARE LIMITED

CONSOLIDATED STATEMENT OF CASH FLOWS

YEAR ENDED 31 MARCH 2025

	2025	2024
	£	£

Cash flows from operating activities

Profit for the financial year	1,119,409	84,012

Adjustments for:
Depreciation of tangible assets	35,711	31,851
Interest payable and similar expenses	172,110	182,203
Tax on profit	372,873	43,972
Accrued expenses/(income)	29,467	( 18,687)

Changes in:
Trade and other debtors	( 4,573,268)	175,134
Trade and other creditors	3,444,273	35,996
	-------------	----------
Cash generated from operations	600,575	534,481

Interest paid	( 172,110)	( 182,203)
Tax paid	( 228,849)	( 197,645)
	----------	----------
Net cash from operating activities	199,616	154,633
	----------	----------

Cash flows from investing activities

Purchase of tangible assets	( 58,156)	( 44,775)
	----------	----------
Net cash used in investing activities	( 58,156)	( 44,775)
	----------	----------

Cash flows from financing activities

Proceeds from borrowings	( 55,732)	( 49,909)
Payments of finance lease liabilities	45,992	–
	----------	----------
Net cash used in financing activities	( 9,740)	( 49,909)
	----------	----------

Net increase in cash and cash equivalents	131,720	59,949
Cash and cash equivalents at beginning of year	80,401	20,452
	----------	---------
Cash and cash equivalents at end of year	212,121	80,401
	----------	---------

COXWELL CARE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Castle House, 69 -70 Victoria Street, Englefield Green, Surrey, TW20 OQX.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of Coxwell Care Limited which can be obtained from Companies House. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: No cash flow statement has been presented for the company.

Consolidation

The financial statements consolidate the financial statements of Coxwell Care Limited and all of its subsidiary undertakings.

The results of subsidiaries acquired or disposed of during the year are included from or to the date that control passes.

The parent company has applied the exemption contained in section 408 of the Companies Act 2006 and has not presented its individual profit and loss account.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Significant judgements The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows: Property valuations Properties are valued annual at fair market value by directors. Fair value is ascertained through review of a number of factors to include market knowledge and market yields. There is an inevitable degree of judgement involved and value can only ultimately be reliably tested in the market itself.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss. The company does not depreciate its freehold properties and although this policy is in accordance with FRS 102, it is a departure from the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors, compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation is only one of many factors reflected in the annual valuation and the amount in respect of this which might otherwise have been shown cannot be separately identified or quantified.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings	-	15% reducing balance
Motor vehicles	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Turnover

Turnover arises from:

	2025	2024
	£	£
Rendering of services	5,050,213	3,994,788
	-------------	-------------

The whole of the turnover is attributable to the principal activity of the group wholly undertaken in the United Kingdom.

5. Operating profit

Operating profit or loss is stated after charging:

	2025	2024
	£	£
Depreciation of tangible assets	35,711	31,851
	---------	---------

6. Auditor's remuneration

	2025	2024
	£	£
Fees payable for the audit of the financial statements	6,369	5,791
	-------	-------

Fees payable to the company's auditor and its associates for other services:

Other non-audit services	3,000	2,750
	-------	-------

7. Staff costs

The average number of persons employed by the group during the year, including the directors, amounted to:

	2025	2024
	No.	No.
Administrative staff	78	79
	----	----

The aggregate payroll costs incurred during the year, relating to the above, were:

	2025	2024
	£	£
Wages and salaries	2,192,587	2,100,844
Social security costs	207,735	194,996
Other pension costs	70,212	31,480
	-------------	-------------
	2,470,534	2,327,320
	-------------	-------------

8. Interest payable and similar expenses

	2025	2024
	£	£
Interest on banks loans and overdrafts	160,298	176,385
Interest on obligations under finance leases and hire purchase contracts	1,630	–
Interest payable - other	10,182	5,818
	----------	----------
	172,110	182,203
	----------	----------

9. Tax on profit

Major components of tax expense

	2025	2024
	£	£

Current tax:

UK current tax expense	361,566	38,119
Adjustments in respect of prior periods	292	( 3,558)
	----------	---------
Total current tax	361,858	34,561
	----------	---------

Deferred tax:

Origination and reversal of timing differences	11,015	9,411
	----------	---------
Tax on profit	372,873	43,972
	----------	---------

Reconciliation of tax expense

The tax assessed on the profit on ordinary activities for the year is higher than (2024: higher than) the standard rate of corporation tax in the UK of 25 % (2024: 25 %).

	2025	2024
	£	£
Profit on ordinary activities before taxation	1,492,282	127,984
	-------------	----------
Profit on ordinary activities by rate of tax	361,858	31,996
Adjustment to tax charge in respect of prior periods	292	( 3,558)
Effect of expenses not deductible for tax purposes	2,945	8,546
Effect of capital allowances and depreciation	( 11,015)	( 9,785)
Deferred tax	11,015	9,411
Other adjustments	7,778	7,362
	-------------	----------
Tax on profit	372,873	43,972
	-------------	----------

10. Tangible assets

Group	Freehold property	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£
Cost/Valuation
At 1 April 2024	12,111,072	662,252	–	12,773,324
Additions	–	1,667	56,489	58,156
	---------------	----------	---------	---------------
At 31 March 2025	12,111,072	663,919	56,489	12,831,480
	---------------	----------	---------	---------------
Depreciation
At 1 April 2024	–	519,851	–	519,851
Charge for the year	–	21,589	14,122	35,711
	---------------	----------	---------	---------------
At 31 March 2025	–	541,440	14,122	555,562
	---------------	----------	---------	---------------
Carrying amount
At 31 March 2025	12,111,072	122,479	42,367	12,275,918
	---------------	----------	---------	---------------
At 31 March 2024	12,111,072	142,401	–	12,253,473
	---------------	----------	---------	---------------

Company	Freehold property
	£
Cost/Valuation
At 1 April 2024 and 31 March 2025	12,111,072
	---------------
Depreciation
At 1 April 2024 and 31 March 2025	–
	---------------
Carrying amount
At 31 March 2025	12,111,072
	---------------
At 31 March 2024	12,111,072
	---------------

Land and buildings represent freehold property In the opinion of the directors, the carrying value of the property as at 31 March 2025, which is based on the directors' valuation, is not significantly different from the open market fair value of the property.

Tangible assets held at valuation

In respect of tangible assets held at valuation, aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:

Group and company	Freehold property
	£
At 31 March 2025
Aggregate cost	4,041,014
Aggregate depreciation	–
	-------------
Carrying value	4,041,014
	-------------

At 31 March 2024
Aggregate cost	4,041,014
Aggregate depreciation	–
	-------------
Carrying value	4,041,014
	-------------

11. Investments

The group has no investments.

Company	Shares in group undertakings
	£
Cost
At 1 April 2024 and 31 March 2025	100
	----
Impairment
At 1 April 2024 and 31 March 2025	–
	----

Carrying amount
At 1 April 2024 and 31 March 2025	100
	----
At 31 March 2024	100
	----

Subsidiaries, associates and other investments

Details of the investments in which the parent company has an interest of 20% or more are as follows:

	Class of share	Percentage of shares held
Subsidiary undertakings
Coxwell Homes Limited	Ordinary	100

12. Debtors

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Trade debtors	239,290	–	–	–
Amounts owed by group undertakings	–	–	1,427,658	1,404,491
Prepayments and accrued income	122,800	4,543	–	–
Amounts owed by related parties	10,974,913	6,778,605	131,708	–
Other debtors	23,471	4,058	766	–
	---------------	-------------	-------------	-------------
	11,360,474	6,787,206	1,560,132	1,404,491
	---------------	-------------	-------------	-------------

13. Creditors: amounts falling due within one year

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Bank loans and overdrafts	67,593	156,000	67,593	156,000
Trade creditors	726,605	304,369	–	–
Accruals and deferred income	51,798	22,331	14,897	–
Corporation tax	451,726	318,717	110,014	96,277
Social security and other taxes	380,215	91,260	–	–
Obligations under finance leases and hire purchase contracts	4,697	–	–	–
Amounts owed to related parties	2,676,386	–	1,142,332	1,018,163
Other creditors	258,023	201,327	–	–
	-------------	-------------	-------------	-------------
	4,617,043	1,094,004	1,334,836	1,270,440
	-------------	-------------	-------------	-------------

14. Creditors: amounts falling due after more than one year

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Bank loans and overdrafts	2,171,726	2,139,051	2,171,726	2,139,051
Obligations under finance leases and hire purchase contracts	41,295	–	–	–
	-------------	-------------	-------------	-------------
	2,213,021	2,139,051	2,171,726	2,139,051
	-------------	-------------	-------------	-------------

The bank loans are secured over the assets of the group and by gross guarantees given by related companies.

15. Finance leases and hire purchase contracts

The total future minimum lease payments under finance leases and hire purchase contracts are as follows:

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Not later than 1 year	6,171	–	–	–
Later than 1 year and not later than 5 years	43,668	–	–	–
	---------	----	----	----
	49,839	–	–	–
Less: future finance charges	( 3,847)	–	–	–
	---------	----	----	----
Present value of minimum lease payments	45,992	–	–	–
	---------	----	----	----

16. Provisions

Group	Deferred tax (note 17)
	£
At 1 April 2024	2,087,007
Additions	11,015
	-------------
At 31 March 2025	2,098,022
	-------------

Company	Deferred tax (note 17)
	£
At 1 April 2024	2,051,871
Additions	5,305
	-------------
At 31 March 2025	2,057,176
	-------------

17. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Included in provisions (note 16)	2,098,022	2,087,007	2,057,176	2,051,871
	-------------	-------------	-------------	-------------

The deferred tax account consists of the tax effect of timing differences in respect of:

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Accelerated capital allowances	366,343	355,328	325,497	320,192
Revaluation of tangible assets	1,731,679	1,731,679	1,731,679	1,731,679
	-------------	-------------	-------------	-------------
	2,098,022	2,087,007	2,057,176	2,051,871
	-------------	-------------	-------------	-------------

18. Employee benefits

Defined contribution plans

The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 70,212 (2024: £ 31,480 ).

19. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	2	2	2	2
	----	----	----	----

20. Reserves

Other reserve - This reserve records the value of asset revaluations and fair value movements on assets recognised in other comprehensive income, net of deferred tax. Profit and loss account - This reserve records retained earnings and accumulated losses.

21. Contingencies

The company has given an inter-company guarantee in respect of the bank borrowings of other companies under common control amounting to £18,390,503 as at 31 March 2025 (2024: £18,240,470).

22. Related party transactions

Group

At 31 March 2025, creditors, amounts falling due within one year, included amounts due to related parties amounting to £2,676,386 (2024: £nil), in respect of loans from companies under common control. These loans are interest free, unsecured and have no fixed terms of repayment. At 31 March 2025, debtors included amounts due from related parties amounting to £10,898,704 (2024: £6,778,605), in respect of loans made to companies under common control. These related party loans are interest During the year the group incurred property rental charges of £24,000 (2024: £24,000) from companies under common control. At 31 March 2025, the group had given guarantees in respect of the bank borrowings of companies under common control, which amounted to £18,390,503 (2024: £18,240,470).

Company

The company has taken advantage of the exemption permitted by Section 33 of FRS 102, Related Party Disclosures, not to disclosure transactions with wholly owned members of the same group. At 31 March 2025, debtors included amounts due from related parties amounting to £131,708 (2024:£nil) in respect of loans to companies under common control. These related party loans are interest free, unsecured and have no fixed terms of repayment. At 31 March 2025, creditors, amounts falling due within one year, included amounts due to related parties amounting to £1,142,332 (2024: £1,018,163) in respect of loans from companies under common control. These related party loans are interest free, unsecured and have no fixed terms of repayment. At 31 March 2025, the company had given guarantees in respect of the bank borrowings of companies under common control, which amounted to £18,390,503 (2024: £18,240,470).

23. Controlling party

The ultimate controlling parties are The Estate of M Sheikh and Guardswell Group Limited, a company owned by GSC Fiduciaries Limited (in its capacity as the trustee of the Guardswell Trust).