Absolute Healthcare North Limited

	Page
Strategic Report	1—2
Directors' Report	3—4
Independent Auditor's Report	5—8
Consolidated Profit and Loss Account	9
Consolidated Statement of Comprehensive Income	10
Consolidated Balance Sheet	11
Company Balance Sheet	12
Consolidated Statement of Changes in Equity	13
Company Statement of Changes in Equity	14
Consolidated Statement of Cash Flows	15
Notes to the Consolidated Statement of Cash Flows	16
Company Statement of Cash Flows	17
Notes to the Company Statement of Cash Flows	18
Notes to the Financial Statements	19—28

The directors present their strategic report for the year ended 30 April 2025.

Review of the Business

A summary of the results for the year is given on page 8 of the financial statements.

The Group's principal trade is the operation of a care home. In respect of its trading activities as a care home during the year ended 30 April 2025 fees received increased by £566,790, an increase of 6.4% from the previous year.

Throughout the year, cost control has been manageable with some cost rises being met with efficiencies in other areas. The increase in trading within the care home has required additional staffing which has driven these costs up. The Group has been able to utilise the rises in inflation to generate higher returns on the cash held within the business. Alongside the increase in cost for additional staffing there has been a loan of £1,500,000 was made to Mr Heer during the year. Mr Heer has subsequently entered bankruptcy therefore the loan has been written off as this is not expected to be recovered in the future. At year end interest of £122,762 was accrued and also written off. As a result, profit before tax for the year decreased to 31.2% for the year compared to 43.9% in the previous year. However if you exclude the loan from the calculation then the profit before tax for the year would have increased to 47.0%.

A profitable trading year has transferred into another strong closing balance sheet for the Group at the year end date with overall net assets rising by £1,830,825 year on year. The complexion of these net assets largely remains the same with cash generated from operations being utilised to repay related party creditors without restricting the cash balance held in the business to continue operating comfortably.

We believe this strong balance sheet will provide the Group with a good platform to move forward and continue to trade as a going concern despite fears of further rising costs and inflation.

	Unit	2025	2024
Average weekly fees per resident	£	2,023	1,901
Direct payroll costs as a % of fees received	%	41.2	43.0
Direct non payroll costs as a % of fees received	%	3.2	4.1

Principal Risks and Uncertainties

High quality care and high quality general health and safety standards need to be maintained to ensure the Group mitigates risks and uncertainties and continues to be successful. It is the Group's aim to continue to meet and exceed statutory requirements through rigorous monitoring of procedures and careful vetting and training of staff.

Continued uncertainty surrounding instability in the UK economy and the ongoing effect of overseas wars on international supply chains is an aspect which is unlikely to have a direct effect on the Group's ability to raise finance and continue to move forward.

Despite the significant changes to the care industry since the COVID-19 pandemic, these changes have had a big impact on how the care home operates but little impact on the ability for the Group to continue as a going concern.

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Absolute Healthcare North Limited

Strategic Report (continued)

For The Year Ended 30 April 2025

Financial Instruments

Objectives and policies

The Group's principal financial instruments comprise bank balances, trade creditors and trade debtors. The main purpose of these instruments is to raise funds for, and to finance, the Group's operations.

Price risk, credit risk, liquidity risk and cash flow risk

Due to the nature of the financial instruments used by the Group there is no exposure to price risk. The Group's approach to managing other risks applicable to the financial instruments concerned is shown below.

In respect of bank balances and loans the liquidity risk is managed by maintaining positive bank balances to meet the upcoming operational costs of the Group. The significant creditors on the Group balance cheet represent amounts owed to related entities.

Trade debtors are managed in respect of credit and cash flow risk by policies concerning each resident in the Group's care and each debt owed and the regular monitoring of amounts outstanding for both time and credit allowed.

Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.

On behalf of the board

Mr D J Bunker

Director

29 May 2026

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Absolute Healthcare North Limited

Company No. 10826548

Directors' Report For The Year Ended 30 April 2025

Directors' Report

The directors present their report and the financial statements for the year ended 30 April 2025.

Principal Activity

The group's principal activity continues to be that of the provision of healthcare for the elderly.

Future Developments

The director does not consider that there are any future developments which require disclosure within the financial statements.

Dividends

The value of dividends paid amounted to £NIL .

The directors recommended a final dividend of £NIL .

Directors

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

Dr M S Pawar	Resigned	20/01/2026
Mr D J Bunker	Appointed	20/01/2026
Mr J B Callister	Appointed	20/01/2026
Mr D M Sedgwick	Appointed	20/01/2026

Matters covered in the Strategic Report

Disclosures required under s416(4) of the Companies Act 2006 are commented upon in the Strategic Report as the directors consider them to be of strategic importance to the business.

Statement of Directors' Responsibilities

The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the 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.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

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Absolute Healthcare North Limited

Directors' Report (continued)

For The Year Ended 30 April 2025

Statement of Disclosure of Information to Auditors

In the case of each director in office at the date the Directors' Report is approved:

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

Independent Auditors

The auditors, Nuvo Audit Limited, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.

On behalf of the board

Mr D J Bunker

Director

29 May 2026

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Independent Auditor's Report

to the Members of

Absolute Healthcare North Limited

Independent Auditor's Report

Opinion

We have audited the financial statements of Absolute Healthcare North Limited (the "parent company") and its subsidiaries (the "group") for the year ended 30 April 2025 which comprise the Consolidated Profit and Loss Account, Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes of Equity, Company Statement of Changes of Equity, Consolidated Cash Flow Statement, Company Cash Flow Statement 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 (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

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 30 April 2025 and of the group's profit/(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's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent company 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 and parent company's ability to continue as a going concern for a period of at least 12 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 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. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on Other Matters Prescribed by the Companies Act 2006

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

the information given in the 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.

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Independent Auditor's Report (continued)

to the Members of

Absolute Healthcare North Limited

Matters on Which We Are Required to Report by Exception

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 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, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records or 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 set out on page 3—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 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 company or to cease operations, or have no realistic alternative but to do so.

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Independent Auditor's Report (continued)

to the Members of

Absolute Healthcare North Limited

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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Detecting irregularities, including fraud

Based on our knowledge and understanding of the Group and industry, we identified that the key risk of fraud or non-compliance with laws and regulations related to:

Management bias in respect of accounting estimates and judgements made.

Management override of control.

Posting of unusual journals or transactions.

Non-compliance with CQC regulations.We focused on those areas that could give rise to a material misstatement in the Group financial statements. Our procedures included but were not limited to:

Enquiring of management and those charged with governance around actual and potential litigation and claims, including instances of non-compliance with laws and regulations and fraud.

Reviewing legal expenditure in the year to identify instances of non-compliance with laws and regulations and fraud.

Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.

Performing audit work over the risk of management override of controls including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business.

Performing analytical procedures to identify any unusual or unexpected relationships that may indicate an increased risk of material misstatement as a result of fraud, or management override.

Assessing accounting estimates which have a material impact of the year end accounts, to determine if there is indication of management bias.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

It is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the Group’s operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.

Our audit did not identify any key audit matters relating to the detection of irregularities including fraud. However, despite the audit being planned and conducted in accordance with ISAs (UK) there remains an unavoidable risk that material misstatements in the financial statements may not be detected owing to inherent limitations of the audit, and that by their very nature, any such instances of fraud or irregularity likely involve collusion, forgery, intentional misrepresentations, or the override of internal controls.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website 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 that 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.

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Independent Auditor's Report (continued)

to the Members of

Absolute Healthcare North Limited

Mr Daniel Johnson FCCA (Senior Statutory Auditor)

for and on behalf of Nuvo Audit Limited , Statutory Auditor

2 June 2026

Nuvo Audit Limited

First Floor, Sterling House

Outrams Wharf

Little Eaton

Derby

DE21 5EL

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Absolute Healthcare North Limited

Consolidated Profit and Loss Account

For The Year Ended 30 April 2025

Consolidated Profit and Loss Account

		2025	2024 as restated
	Notes	£	£
TURNOVER	3	9,465,747	8,898,957
Cost of sales		(4,205,177 )	(4,188,869 )

GROSS PROFIT		5,260,570	4,710,088

Administrative expenses		(837,695 )	(838,979 )

OPERATING PROFIT	4	4,422,875	3,871,109
Exceptional items		(1,622,647)	-
Other interest receivable and similar income	8	152,324	41,021
Interest payable and similar charges	9	-	(1,049 )

PROFIT BEFORE TAXATION		2,952,552	3,911,081
Tax on Profit	10	(1,121,727 )	(1,088,766 )

PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR ATTRIBUTABLE TO THE OWNERS OF THE PARENT		1,830,825	2,822,315

The notes on pages 16 to 28 form part of these financial statements.

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Absolute Healthcare North Limited

Consolidated Statement of Comprehensive Income

For The Year Ended 30 April 2025

Consolidated Statement of Comprehensive Income

	2025	2024 as restated
	£	£
PROFIT FOR THE FINANCIAL YEAR	1,830,825	2,822,315
OTHER COMPREHENSIVE INCOME FOR THE YEAR	-	-
Prior year adjustment	(189,274)	-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR ATTRIBUTABLE TO THE OWNERS OF THE PARENT	1,641,551	2,822,315

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Absolute Healthcare North Limited

Consolidated Balance Sheet

As At 30 April 2025

Consolidated Balance Sheet

Registered number: 10826548

		2025		2024 as restated
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	11		5,960,660		6,027,133

			5,960,660		6,027,133
CURRENT ASSETS
Debtors	13	1,256,950		1,673,515
Cash at bank and in hand		2,886,353		2,598,749

		4,143,303		4,272,264
Creditors: Amounts Falling Due Within One Year	14	(3,115,684 )		(5,217,347 )

NET CURRENT ASSETS (LIABILITIES)			1,027,619		(945,083 )

TOTAL ASSETS LESS CURRENT LIABILITIES			6,988,279		5,082,050

PROVISIONS FOR LIABILITIES
Deferred Taxation	15		(271,648 )		(196,244 )

NET ASSETS			6,716,631		4,885,806

CAPITAL AND RESERVES
Called up share capital	17		6		6
Profit and Loss Account			6,716,625		4,885,800

SHAREHOLDERS' FUNDS			6,716,631		4,885,806

On behalf of the board

Mr D J Bunker

Director

29 May 2026

The notes on pages 16 to 28 form part of these financial statements.

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Absolute Healthcare North Limited

Company Balance Sheet

As At 30 April 2025

Company Balance Sheet

Registered number: 10826548

		2025		2024 as restated
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	11		5,935,392		5,996,477
Investments	12		1		1

			5,935,393		5,996,478
CURRENT ASSETS
Debtors	13	1,761,522		169,200
Cash at bank and in hand		2,231		4,878

		1,763,753		174,078
Creditors: Amounts Falling Due Within One Year	14	(2,033,185 )		(4,015,309 )

NET CURRENT ASSETS (LIABILITIES)			(269,432 )		(3,841,231 )

TOTAL ASSETS LESS CURRENT LIABILITIES			5,665,961		2,155,247

PROVISIONS FOR LIABILITIES
Deferred Taxation	15		(266,495 )		(189,274 )

NET ASSETS			5,399,466		1,965,973

CAPITAL AND RESERVES
Called up share capital	17		6		6
Profit and Loss Account			5,399,460		1,965,967

SHAREHOLDERS' FUNDS			5,399,466		1,965,973

In accordance with section 408(3) of the Companies Act 2006, the company has not presented its own profit and loss account and the related notes. The company's profit for the year was £ 3,433,493 (2024: £ 2,028,681 profit/(loss)).

On behalf of the board

Mr D J Bunker

Director

29 May 2026

The notes on pages 16 to 28 form part of these financial statements.

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Absolute Healthcare North Limited

Consolidated Statement of Changes in Equity

For The Year Ended 30 April 2025

Consolidated Statement of Changes in Equity

	Share Capital	Profit and Loss Account	Total
	£	£	£
As at 1 May 2023	6	2,063,485	2,063,491
Profit for the year and total comprehensive income	-	2,822,315	2,822,315

Dividends paid	-	-	-

As at 30 April 2024	6	4,885,800	4,885,806


As at 1 May 2024 as previously stated	6	5,075,074	5,075,080
Prior year adjustment	-	(189,274 )	(189,274 )

As at 1 May 2024 as restated	6	4,885,800	4,885,806
4,885,800

Profit for the year and total comprehensive income	-	1,830,825	1,830,825

Dividends paid	-	-	-

As at 30 April 2025	6	6,716,625	6,716,631

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Absolute Healthcare North Limited

Company Statement of Changes in Equity

For The Year Ended 30 April 2025

Company Statement of Changes in Equity

	Share Capital	Profit and Loss Account	Total
	£	£	£
As at 1 May 2023	6	(62,714 )	(62,708)
Profit for the year and total comprehensive income	-	2,028,681	2,028,681

As at 30 April 2024	6	1,965,967	1,965,973


As at 1 May 2024 as previously stated	6	2,155,241	2,155,247
Prior year adjustment	-	(189,274 )	(189,274 )

As at 1 May 2024 as restated	6	1,965,967	1,965,973
1,965,967

Profit for the year and total comprehensive income	-	3,433,493	3,433,493

As at 30 April 2025	6	5,399,460	5,399,466

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Absolute Healthcare North Limited

Consolidated Statement of Cash Flows

For The Year Ended 30 April 2025

Consolidated Statement of Cash Flows

		2025	2024 as restated
	Notes	£	£
Cash flows from operating activities
Net cash generated from operations	1	2,675,752	4,270,319
Interest paid		-	(1,049 )
Tax paid		(1,293,979 )	(1,004,578 )

Net cash generated from operating activities		1,381,773	3,264,692

Cash flows from investing activities
Purchase of tangible assets		-	(1,457 )
Interest received		152,324	41,021
Amounts paid to associated companies		(1,900,517)	(3,061,542)

Net cash used in investing activities		(1,748,193 )	(3,021,978 )

Cash flows from financing activities
Amount introduced by directors		654,024	145,473



Increase in cash and cash equivalents		287,604	388,187
Cash and cash equivalents at beginning of year	2	2,598,749	2,210,562

Cash and cash equivalents at end of year	2	2,886,353	2,598,749

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Absolute Healthcare North Limited

Notes to the Consolidated Statement of Cash Flows

For The Year Ended 30 April 2025

Notes to the Consolidated Statement of Cash Flows

1. Reconciliation of profit for the financial year to cash generated from operations

	2025	2024 as restated
	£	£
Profit for the financial year	1,830,825	2,822,315
Adjustments for:
Tax on profit	1,121,727	1,088,766
Interest expense	-	1,049
Interest income	(152,324 )	(41,021 )
Depreciation of tangible assets	66,473	66,999
Movements in working capital:
(Increase)/decrease in trade and other debtors	(237,755 )	436,126
Increase/(decrease) in trade and other creditors	46,806	(103,915 )

Net cash generated from operations	2,675,752	4,270,319

2. Cash and cash equivalents

Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:

	2025	2024 as restated
	£	£
Cash at bank and in hand	2,886,353	2,598,749

3. Analysis of changes in net funds

	As at 1 May 2024	Cash flows	As at 30 April 2025
	£	£	£
Cash at bank and in hand	2,598,749	287,604	2,886,353

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Absolute Healthcare North Limited

Company Statement of Cash Flows

For The Year Ended 30 April 2025

Company Statement of Cash Flows

		2025	2024 as restated
	Notes	£	£
Cash flows from operating activities
Net cash used in operations	1	(97,755 )	(2,248 )

Net cash used in operating activities		(97,755 )	(2,248 )

Cash flows from investing activities
Amounts repaid to associated companies		(1,900,000)	(3,137,438)
Amounts received from group companies		1,995,108	3,143,240

Net cash generated from investing activities		95,108	5,802



(Decrease)/increase in cash and cash equivalents		(2,647 )	3,554
Cash and cash equivalents at beginning of year	2	4,878	1,324

Cash and cash equivalents at end of year	2	2,231	4,878

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Absolute Healthcare North Limited

Notes to the Company Statement of Cash Flows

For The Year Ended 30 April 2025

Notes to the Company Statement of Cash Flows

1. Reconciliation of profit for the financial year to cash used in operations

	2025	2024 as restated
	£	£
Profit for the financial year	3,433,493	2,028,681
Adjustments for:
Tax on profit	(10,725 )	82,183
Income from shares in group undertakings	(3,500,000)	(2,200,000)
Depreciation of tangible assets	61,085	61,085
Movements in working capital:
Decrease in trade and other debtors	516	608
(Decrease)/increase in trade and other creditors	(82,124 )	25,195

Net cash used in operations	(97,755 )	(2,248 )

2. Cash and cash equivalents

Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:

	2025	2024 as restated
	£	£
Cash at bank and in hand	2,231	4,878

3. Analysis of changes in net funds

	As at 1 May 2024	Cash flows	As at 30 April 2025
	£	£	£
Cash at bank and in hand	4,878	(2,647)	2,231

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Absolute Healthcare North Limited

Notes to the Financial Statements

For The Year Ended 30 April 2025

Notes to the Financial Statements

1. General Information

Absolute Healthcare North Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10826548 . The registered office is The Scalpel, 18th Floor, 52 Lime Street, London, EC3M 7AF.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Basis Of Consolidation

The group consolidated financial statements include the financial statements of the company and all of its subsidiary undertakings together with the group’s share of the results of associates made up to 30 April 2025.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. Where the group owns less than 50% of the voting powers of an entity but controls the entity by virtue of an agreement with other investors which give it control of the financial and operating policies of the entity, it accounts for that entity as a subsidiary.

Where a subsidiary has different accounting policies to the group, adjustments are made to those subsidiary financial statements to apply the group’s accounting policies when preparing the consolidated financial statements.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the group holds a long-term interest and where the group has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate. The results of associates are accounted for using the equity method of accounting.

Any subsidiary undertakings or associates sold or acquired during the year are included up to, or from, the dates of change of control or change of significant influence respectively.

Where control of a subsidiary is lost, the gain or loss is recognised in the consolidated income statement. The cumulative amounts of any exchange differences on translation, recognised in equity, are not included in the gain or loss on disposal and are transferred to retained earnings. The gain or loss also includes amounts included in other comprehensive income that are required to be reclassified to profit or loss but excludes those amounts that are not required to be reclassified.

Where control of a subsidiary is achieved in stages, the initial acquisition that gave the group control is accounted for as a business combination. Thereafter where the group increases its controlling interest in the subsidiary the transaction is treated as a transaction between equity holders. Any difference between the fair value of the consideration paid and the carrying amount of the non-controlling interest acquired is recognised directly in equity. No changes are made to the carrying value of assets, liabilities or provisions for contingent liabilities.

2.3. Business Combinations

Business combinations are accounted for by applying the purchase method.

The cost of a business combination is the fair value of the consideration given, liabilities incurred or assumed and of equity instruments issued plus the costs directly attributable to the business combination. Where control is achieved in stages the cost is the consideration at the date of each transaction.

Contingent consideration is initially recognised at estimated amount where the consideration is probable and can be measured reliably. Where (i) the contingent consideration is not considered probable or cannot be reliably measured but subsequently becomes probable and measurable or (ii) contingent consideration previously measured is adjusted, the amounts are recognised as an adjustment to the cost of the business combination.

On acquisition of a business, fair values are attributed to the identifiable assets, liabilities and contingent liabilities unless the fair value cannot be measured reliably, in which case the value is incorporated in goodwill. Intangible assets are only recognised separately from goodwill where they are separable and arise from contractual or other legal rights. Where the fair value of contingent liabilities cannot be reliably measured they are disclosed on the same basis as other contingent liabilities.

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Absolute Healthcare North Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2025

2.4. Going Concern Disclosure

As part of considering the Group’s ability to continue as a going concern, the directors have reviewed financial forecasts that span 12 months from the date of the approval of these financial statements. After taking into consideration these forecasts, the Directors are confident that the Group will have sufficient available resources to continue to meet its liabilities as they fall due. As a result of this, the directors consider the going concern basis for preparing the financial statements to be appropriate.

2.5. Significant judgements and estimations

In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and 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 sources of estimation uncertainty that have an impact on the amounts recognised in the financial statements are:

Provision for bad and doubtful debts

The company assesses the recoverability of trade receivables at each reporting date and recognises a provision for bad debts where appropriate. Key areas of judgement include:

The estimation of bad debt provisions involves significant judgement and is subject to change based on actual credit losses experienced.

2.6. Turnover

Turnover is measured at the fair value of the consideration received or receivable for the provision of services in the ordinary course of the Group's activities. Turnover is shown net of sales/value added taxes, rebates and discounts. Turnover is recognised on a daily basis when the service and care have been received by the resident. These services are invoiced on a periodic basis. Turnover received in advance is treated as deferred income and recognised as income in future trading periods.

2.7. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	1% straight line basis
Plant & Machinery	20% reducing balance
Fixtures & Fittings	15% reducing balance

2.8. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

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Absolute Healthcare North Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2025

2.9. Financial Instruments

The Company has elected to apply the provisions of Section 11 "Basic Financial Instruments" of FRS 102 to all its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs 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 receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted.

The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate. If there is a favourable change in relation to the events surrounding the impairment loss, then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

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 payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted whore the effect of discounting is Immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers Trade payables are classified as current liabilities if the payment is due within one year If not, they represent non-current liabilities.

Trade payables 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.

2.10. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The group's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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Absolute Healthcare North Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2025

2.10. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Turnover

Analysis of turnover by geographical market is as follows:

	2025	2024 as restated
	£	£
United Kingdom	9,465,747	8,898,957

	9,465,747	8,898,957

All turnover was generated through the Group's principal activity.

4. Operating Profit

The operating profit is stated after charging:

	2025	2024 as restated
	£	£
Depreciation of tangible fixed assets	66,473	66,999

5. Auditor's Remuneration

Remuneration received by the group's auditors and their associates during the year was as follows:

	2025	2024 as restated
	£	£
Audit Services
Audit of the group and company's financial statements	11,400	9,000


Other Services
Auditing accounts of associates	14,400	12,000

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Absolute Healthcare North Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2025

6. Staff Costs

Staff costs, including directors' remuneration, were as follows:

	2025	2024 as restated
	£	£
Wages and salaries	3,771,692	3,459,074
Social security costs	364,495	296,119
Other pension costs	96,018	77,123

	4,232,205	3,832,316

7. Average Number of Employees

Group

Average number of employees, including directors, during the year was: 140 (2024: 140)

Company

Average number of employees, including directors, during the year was as follows:

	2025		2024

	1		1

8. Interest Receivable and Similar Income

	2025	2024 as restated
	£	£
Bank interest receivable	152,324	41,021

9. Interest Payable and Similar Charges

	2025	2024 as restated
	£	£
Other finance charges	-	1,049

10. Tax on Profit

The tax charge on the profit for the year was as follows:

	Tax Rate		2025	2024 as restated
	2025	2024	£	£
Current tax
UK Corporation Tax	25.0%	25.0%	1,046,323	892,522
Deferred Tax
Deferred taxation			75,404	196,244


Total tax charge for the period			1,121,727	1,088,766

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Absolute Healthcare North Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2025

The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:

	2025	2024
	£	£
Profit before tax	2,952,552	3,911,081

Tax on profit at 25% (UK standard rate)	738,138	977,770
Expenses not deductible for tax purposes	383,589	15,112
Deferred tax from unrecognised timing difference from a prior period	-	95,884

Total tax charge for the period	1,121,727	1,088,766

11. Tangible Assets

Group

	Land & Property
	Freehold	Plant & Machinery	Fixtures & Fittings	Total
	£	£	£	£
Cost
As at 1 May 2024	6,108,466	7,380	33,120	6,148,966

As at 30 April 2025	6,108,466	7,380	33,120	6,148,966

Depreciation
As at 1 May 2024	111,989	2,566	7,278	121,833
Provided during the period	61,085	1,480	3,908	66,473

As at 30 April 2025	173,074	4,046	11,186	188,306

Net Book Value
As at 30 April 2025	5,935,392	3,334	21,934	5,960,660

As at 1 May 2024	5,996,477	4,814	25,842	6,027,133

Company

	Land & Property
	Freehold
	£
Cost
As at 1 May 2024	6,108,466

As at 30 April 2025	6,108,466

Depreciation
As at 1 May 2024	111,989
Provided during the period	61,085

As at 30 April 2025	173,074

...CONTINUED

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Absolute Healthcare North Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2025

Net Book Value
As at 30 April 2025	5,935,392

As at 1 May 2024	5,996,477

12. Investments

Company

	Subsidiaries
	£
Cost or Valuation
As at 1 May 2024	1

As at 30 April 2025	1

Provision
As at 1 May 2024	-

As at 30 April 2025	-

Net Book Value
As at 30 April 2025	1

As at 1 May 2024	1

Subsidiaries

Details of the group's subsidiaries as at 30 April 2025 are as follows:

Name of undertaking	Registered Office	Class of shares held	Direct holding	Indirect holding
Absolute Healthcare West Limited	Third Floor, 86-90 Paul Street, London, England, EC2A 4NE	Ordinary	100.00%	-

The aggregate capital and reserves and the result for the year of the subsidiaries listed above was as follows:

	Capital and Reserves	Profit/(loss)
	£	£
Absolute Healthcare West Limited	1,317,166	1,897,332

The company's principal activity is the operation of a care home.

13. Debtors

	Group		Company
	2025	2024 as restated	2025	2024 as restated
	£	£	£	£
Due within one year
Trade debtors	190,912	128,769	-	-
Prepayments and accrued income	49,900	47,854	-	-
Other debtors	400,897	300,083	-	-
Corporation tax recoverable on directors loan	301,924	301,924	-	-
Net wages	-	296	-	-

...CONTINUED

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Absolute Healthcare North Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2025

Directors' loan accounts	240,565	894,589	-	-
Amounts owed by subsidiaries	-	-	1,761,522	169,200
Amounts owed by other participating interests	72,752	-	-	-

	1,256,950	1,673,515	1,761,522	169,200

Amounts owed by group undertakings and participating interests are unsecured, interest free and repayable on demand. Directors loans are unsecured, interest free and repayable on demand.

14. Creditors: Amounts Falling Due Within One Year

	Group		Company
	2025	2024 as restated	2025	2024 as restated
	£	£	£	£
Trade creditors	26,855	180,892	-	95,300
Amounts owed to participating interests	1,991,982	3,823,982	1,991,982	3,892,499
Other creditors	53,877	32,565	-	-
Corporation tax	446,790	694,446	-	-
Taxation and social security	84,911	63,272	-	-
Accruals and deferred income	511,269	422,190	41,203	27,510

	3,115,684	5,217,347	2,033,185	4,015,309

Amounts owed to participating interests are unsecured, interest free and repayable on demand

15. Deferred Taxation

The provision for deferred tax is made up as follows:

	Group		Company
	2025	2024 as restated	2025	2024 as restated
	£	£	£	£
Other timing differences	271,648	196,244	266,495	189,274

The reversal of deferred tax in the next 12 months is not expected to be material.

16. Provisions for Liabilities

Group
	Deferred Tax	Total
	£	£
As at 1 May 2024	196,244	196,244
Additions	77,221	77,221
Utilised	(1,817 )	(1,817)

Balance at 30 April 2025	271,648	271,648

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Absolute Healthcare North Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2025

Company
	Deferred Tax	Total
	£	£
As at 1 May 2024	189,274	189,274
Additions	77,221	77,221

Balance at 30 April 2025	266,495	266,495

17. Share Capital

	2025	2024 as restated
Allotted, called up and fully paid	£	£
6 Ordinary Shares of £ 1.000 each	6	6

18. Financial Instruments

The group has the following financial instruments:

	Group		Company
	2025	2024 as restated	2025	2024 as restated
	£	£	£	£
Financial assets
Financial assets that are debt Instruments measured at amortised cost	4,093,403	4,224,410	1,763,753	174,078

Financial liabilities
Financial liabilities measured at amortised cost	2,630,922	4,457,651	2,033,185	4,015,309

19. Pension Commitments

The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund.

During the year the charge to profit or loss in respect of defined contribution schemes was £96,018 (2024: £77,123).

At the balance sheet date contributions of £5,541 (2024: £3,503) were due to the fund and are included in creditors.

20. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 May 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 30 April 2025
	£	£	£	£	£
Dr Manjit Pawar	894,589	240,565	(894,589)	-	240,565

The above loan is unsecured, interest free and repayable on demand.

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Absolute Healthcare North Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2025

21. Post Balance Sheet Events

On 19th January 2026, the Parent Company was sold by Dr M S Pawar to Impact Property 6 Limited.

On 19th January 2026, the Subsidiary Company was sold by Absolute Healthcare North Limited to Kinly Care (Midlands) Limited.

As the sale agreements for the above were signed after the reporting date, these are considered non-adjusting events under Section 32 of FRS 102. Accordingly, no adjustments have been made to the amounts recognised in these financial statements as a result of the Company sales.

22. Related Party Disclosures

The group has taken advantage of exemption, under 33.1A of the Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", not to disclose transactions with wholly owned subsidiaries within the group.

During the year, the Group loaned £1,904,451 (2024: £3,207,705) and received repayment of loans of £Nil (2024: £150,511) from companies under common control.

Included within debtors at 30 April 2025 is £72,752 (2024: £Nil) which is due from companies under common control. All amounts due are interest free and repayable on demand.

Included within creditors at 30 April 2025 is £1,991,982 (2024: £3,823,982) which is due to companies under common control. All amounts due are interest free and repayable on demand.

23. Controlling Parties

The Company’s controlling party as at 30th April 2025 was Dr M S Pawar by virtue of his ownership and control over the share capital of the Company.

24. Exceptional Items

A loan of £1,500,000 was made by a subsidiary company to Mr Heer during the year . Mr Heer has subsequently entered bankruptcy therefore the loan has been written off as this is not expected to be recovered in the future. At the year end, interest of £122,647 had been accrued on this loan and has also been written off.

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