Limited Liability Partnership Registration No. OC308106 (England and Wales)
ZERO THREE CARE HOMES LLP
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Affinia
The Octagon Suite E2
2nd Floor Middleborough
Colchester
Essex
CO1 1TG
ZERO THREE CARE HOMES LLP
LIMITED LIABILITY PARTNERSHIP INFORMATION
Designated members
Sky Care Homes Limited
Zero Midco Limited
LLP registration number
OC308106
Registered office
10 Lower Thames Street
London
EC3R 6EN
Auditor
Affinia (Colchester)
The Octagon Suite E2
2nd Floor Middleborough
Colchester
Essex
CO1 1TG
ZERO THREE CARE HOMES LLP
CONTENTS
Page
Members' report
1 - 5
Independent auditor's report
6 - 9
Statement of comprehensive income
10
Statement of financial position
11
Reconciliation of members' interests
12 - 13
Notes to the financial statements
14 - 24
ZERO THREE CARE HOMES LLP
MEMBERS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 1 -

The members present their annual report and financial statements for the year ended 30 September 2025.

Principal activities

The principal activity of the limited liability partnership continued to be that of a care provider.

Business overview

Zero Three Care Homes LLP (“The LLP”) provides high quality care and support services to adults across the South-East of the UK, including those with learning disabilities, autism and complex care needs. The LLP is committed to person-centred care that enables individuals to live independently with dignity and respect.

The LLP’s services include supported living and residential care homes. The Company is regulated by the Care Quality Commission (CQC) and all services are delivered in line with applicable statutory requirements and best practice standards.

Fair review of the business

The results for the year which are set out in the profit and loss account show turnover of £16,227,298 and an operating profit of £3,381,939. At 30 September 2025 the LLP had net assets attributable to members of £16,800,817. The directors consider the performance for the year and the financial position at the year-end to be satisfactory.

Key performance indicators

Given the nature of the business, the members are of the opinion that key performance indicators are important. The LLP uses a number of indicators to monitor and improve the position of the business. Indicators are reviewed and altered to meet changes both in the internal and external environments. Key Performance Indicators, other than the financial results which in the opinion of the members does not require further comment, include the hours of care provided. The members are satisfied with the position of these indicators at the end of the financial year and believe that the prospects for the LLP are positive.

Principal risks and uncertainties

The management of the business and the execution of the LLP’s strategy are subject to a number of risks. The adult social care sector continues to face challenges. Key risks identified include:

- Workforce Recruitment and Retention:

The availability of suitably qualified care staff remains constrained across the sector. The LLP continues to respond through enhanced recruitment practices, competitive employment packages, and ongoing training and development. The LLP recognises the importance of overseas labour to the adult social care sector and continue to monitor government policy and labour market developments that may affect workforce availability.

- Regulatory Risk:

As a regulated care provider, compliance with CQC standards is critical. The LLP maintains robust quality assurance and governance frameworks to monitor compliance and mitigate regulatory risk.

- Cost Pressures:

Rising wage costs and wider inflationary pressures present ongoing financial challenges. The LLP continues to pursue operational efficiencies and engages constructively with commissioners to support fair and sustainable contract pricing.

ZERO THREE CARE HOMES LLP
MEMBERS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 2 -

Financial instruments

Objectives and policies

The LLP is exposed to the usual credit and cash flow risks associated with selling on credit and manages this through credit control procedures. The members constantly monitor the LLP’s trading results and revises projections as appropriate to ensure that the LLP can meet its future obligations as they fall due.

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

The LLP is exposed to price risk, credit risk, liquidity risk, and cash flow risk in the normal course of business. Credit risk is managed through credit control procedures, while liquidity and cash flow are monitored through regular financial reporting.

Cash flow, performance, and key financial indicators are measured against agreed covenant thresholds and reported on a quarterly basis.

Members' drawings, contributions and repayments

Members are permitted to make drawings in anticipation of profits which will allocated to them. The amount of such drawings is set at the beginning of each financial year, taking into account the anticipated cash needs of the LLP.

New members are required to subscribe a minimum level of capital and in subsequent years, members are invited to subscribe for further capital, the amount of which is determined by the performance and seniority of those members. On retirement, capital is repaid to members.

Designated members

The designated members who held office during the year and up to the date of signature of the financial statements were as follows:

Sky Care Homes Limited
Zero Midco Limited
Disabled persons

Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the limited liability partnership's continues and that the appropriate training is arranged. It is the policy of the limited liability partnership that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.

Employee involvement

The limited liability partnership's policy is to consult and discuss with employees, through unions, staff councils and at meetings, matters likely to affect employees' interests.

Information of matters of concern to employees is given through information bulletins and reports which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the limited liability partnership's performance.

There is no employee share scheme at present, but the members are considering the introduction of such a scheme as a means of further encouraging the involvement of employees in the limited liability partnership's performance.

ZERO THREE CARE HOMES LLP
MEMBERS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 3 -
Energy and carbon report

In accordance with the Limited Liability Partnerships (Energy and Carbon Report) Regulations 2018, Zero Three Care Homes LLP has prepared the following energy and carbon declaration.

Zero Three Care Homes LLP has followed the 2019 HM Government Environmental Reporting Guidelines. The LLP has also used the GHG Reporting Protocol – Corporate Standard and have used the 2020 UK Government’s Conversion Factors for Company Reporting

The annual reporting period below relates to the year to 30 September 2025.

In accordance with the 2018 Regulations, the energy use and associated greenhouse gas emissions are for those assets owned or operated within UK only. This includes 15 care homes and 1 head office.

2025
2024
Energy consumption
kWh
kWh
Aggregate of energy consumption in the year
- Gas combustion
326,264
338,025
- Electricity purchased
188,290
93,438
- Fuel consumed for transport
245,046
373,094
759,600
804,557
2025
2024
Emissions of CO2 equivalent
metric tonnes
metric tonnes
Scope 1 - direct emissions
- Gas combustion
59.69
70.97
- Fuel consumed for owned transport
55.76
89.24
115.45
160.21
Scope 2 - indirect emissions
- Electricity purchased
39.95
19.35
Scope 3 - other indirect emissions
- Fuel consumed for transport not owned by the LLP
11.50
6.47
Total gross emissions
166.90
186.03
Intensity ratio
tonnes CO2e per £million (revenue)
94.70
127.63
Quantification and reporting methodology

We have followed the 2019 HM Government Environmental Reporting Guidelines. We have also used the GHG Reporting Protocol – Corporate Standard and have used the 2020 UK Government’s Conversion Factors for LLP Reporting.

Intensity measurement

The chosen intensity measurement ratio is total gross emissions in metric tonnes CO2e per £million, the recommended ratio for the sector.

ZERO THREE CARE HOMES LLP
MEMBERS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 4 -
Measures taken to improve energy efficiency

The LLP has implemented the policies below for the purpose of increasing the businesses energy efficiency in the

current reported financial period:

• Improved video conferencing availability and encouragement of its use;

• Reduced emissions & travel costs by reducing non-essential face to face meetings with customers & suppliers.

Our goal is to actively start implementing projects to improve our energy and carbon efficiency. For the current year, we have collated the data, noted above, and will now look to develop ways to improve energy efficiency by continuing to research methods to increase our carbon efficiency.

List of members

This report has been approved by the designated members of the LLP.

Statement of members' responsibilities

The members are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) requires the members to prepare financial statements for each financial year. Under that law the members have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice. Under company law (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) the members 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 limited liability partnership and of the profit or loss of the limited liability partnership for that period. In preparing these financial statements, the members are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent;

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the limited liability partnership will continue in business.

The members are responsible for keeping adequate accounting records that are sufficient to show and explain the limited liability partnership’s transactions and disclose with reasonable accuracy at any time the financial position of the limited liability partnership and enable them to ensure that the financial statements comply with the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008). They are also responsible for safeguarding the assets of the limited liability partnership and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement of disclosure to auditor

Each of the members in office at the date of approval of this annual report confirms that:

- so far as the members are aware, there is no relevant audit information of which the limited liability partnership's auditor is unaware, and

- the members have taken all the steps that they o ught to have taken as members in order to make themselves aware of any relevant audit information and to establish that the limited liability partnership's auditor is aware of that information.

ZERO THREE CARE HOMES LLP
MEMBERS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 5 -
Stakeholders and Long‑Term Value

The Members believe that they have acted in a manner consistent with their duties under section 172 of the Companies Act 2006. In discharging these duties, the Members have had regard to the long-term success of the LLP and the need to generate sustainable value for shareholders through the provision of high-quality residential and supported living care services.

The Members recognise the importance of maintaining strong relationships with the LLP’s key stakeholders, which include shareholders, employees, suppliers, customers, and regulators. These stakeholders are integral to the delivery of the LLP’s strategy and its long-term sustainability.

The LLP is committed to maintaining a strong reputation for quality and integrity. Relationships with suppliers, employees, and customers are closely interconnected: fair treatment of suppliers and the use of appropriate, high-quality suppliers support staff in delivering care effectively, which in turn ensures that the needs of service users are met. This integrated approach supports the delivery of high-quality services, operational sustainability, and long-term returns for shareholders.

The LLP is regulated by the CQC, which carries out inspections at least once every five years, although inspections may take place at any time and are typically unannounced. The LLP maintains ongoing monitoring of care standards to ensure compliance and the consistent delivery of high-quality care. During the year, the LLP underwent one CQC inspection. The Member s remain committed to continuous improvement and to maintaining high standards of care across all services.

Approved by the members on 8 July 2026 and signed on behalf by:
08 July 2026
Sky Care Homes Limited
Designated Member
ZERO THREE CARE HOMES LLP
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF ZERO THREE CARE HOMES LLP
- 6 -
Opinion

We have audited the financial statements of Zero Three Care Homes LLP (the 'limited liability partnership') for the year ended 30 September 2025 which comprise the statement of comprehensive income, the statement of financial position, the reconciliation of members' interests and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the limited liability partnership's affairs as at 30 September 2025 and of its profit 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 as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

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 limited liability partnership 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 members' 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 limited liability partnership’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 members 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 members 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. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

ZERO THREE CARE HOMES LLP
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF ZERO THREE CARE HOMES LLP
- 7 -
Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 as applied to limited liability partnerships 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 and returns; or

- we have not received all the information and explanations we require for our audit.

Responsibilities of members

As explained more fully in the members' r esponsibilities s tatement, the members 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 members 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 members are responsible for assessing the limited liability partnership'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 members either intend to liquidate the limited liability partnership 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.

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

There are inherent limitations in our audit procedures described below. The more removed that laws and regulations

are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing

standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of

directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may

involve deliberate concealment or collusion.

ZERO THREE CARE HOMES LLP
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF ZERO THREE CARE HOMES LLP
- 8 -

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- We identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the care sector;

- We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, data protection, anti-bribery, environmental and health and safety legislation;

- We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

- Identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- Making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

- Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- A greeing financial statement disclosures to underlying supporting documentation;

- E nquiring of management as to actual and potential litigation and claims; and

- R eviewing correspondence with the company’s legal advisors

- Reviewing correspondence with regulatory authorities (CQC)

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

ZERO THREE CARE HOMES LLP
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF ZERO THREE CARE HOMES LLP
- 9 -

Use of our report

This report is made solely to the limited liability partnership's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008. Our audit work has been undertaken so that we might state to the limited liability partnership'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 limited liability partnership and the limited liability partnership's members as a body, for our audit work, for this report, or for the opinions we have formed.

Shaun Roberts (Senior Statutory Auditor)
For and on behalf of Affinia (Colchester), Statutory Auditor
Chartered Accountants
The Octagon Suite E2
2nd Floor Middleborough
Colchester
Essex
CO1 1TG
8 July 2026
ZERO THREE CARE HOMES LLP
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 10 -
2025
2024
Notes
£
£
Turnover
16,227,298
13,341,101
Cost of sales
(9,845,356)
(8,427,304)
Gross profit
6,381,942
4,913,797
Administrative expenses
(3,008,245)
(2,602,721)
Other operating income
8,242
96,001
Operating profit
3
3,381,939
2,407,077
Interest receivable and similar income
7
659
446
Interest payable and similar expenses
8
(575,377)
(351,025)
Profit for the financial year before members' remuneration and profit shares available for discretionary division among members
2,807,221
2,056,498
Other comprehensive income
Revaluation of land and buildings
1,159,303
-
Total comprehensive income for the year
3,966,524
2,056,498

The income statement has been prepared on the basis that all operations are continuing operations.

ZERO THREE CARE HOMES LLP
STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2025
30 September 2025
- 11 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
9
26,899,740
25,424,284
Current assets
Debtors
10
762,107
666,778
Cash at bank and in hand
586,445
82,312
1,348,552
749,090
Creditors: amounts falling due within one year
11
(2,414,116)
(1,678,536)
Net current liabilities
(1,065,564)
(929,446)
Total assets less current liabilities
25,834,176
24,494,838
Creditors: amounts falling due after more than one year
12
(9,033,359)
(8,921,905)
Net assets attributable to members
16,800,817
15,572,933
Represented by:
Loans and other debts due to members within one year
Amounts due in respect of profits
2,807,221
2,056,498
Other amounts
4,073,163
4,755,305
6,880,384
6,811,803
Members' other interests
Members' capital classified as equity
100
100
Revaluation reserve
9,920,333
8,761,030
16,800,817
15,572,933
The financial statements were approved by the members and authorised for issue on 8 July 2026 and are signed on their behalf by:
08 July 2026
Sharon Chrystal (Director of Sky Care Homes Limited)
Designated member
Limited Liability Partnership registration number OC308106 (England and Wales)
ZERO THREE CARE HOMES LLP
RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 12 -
Current financial year
EQUITY
DEBT
TOTAL
Members' other interests
Loans and other debts due to members less any amounts due from members in debtors
MEMBERS'
INTERESTS
Members' capital
Revaluation
reserve
Other reserves
Total
Other amounts
Total
Total
2025
£
£
£
£
£
£
£
Members' interests at 1 October 2024
100
8,761,030
-
8,761,130
6,811,803
6,811,803
15,572,933
Profit for the financial year available for discretionary division among members
-
-
2,807,221
2,807,221
-
-
2,807,221
Members' interests after profit for the year
100
8,761,030
2,807,221
11,568,351
6,811,803
6,811,803
18,380,154
Allocation of profit for the financial year
-
-
(2,807,221)
(2,807,221)
2,807,221
2,807,221
-
Surplus arising on revaluation of fixed assets
-
1,159,303
-
1,159,303
-
-
1,159,303
Repayment of debt (including members' capital classified as a liability)
-
-
-
-
(2,738,640)
(2,738,640)
(2,738,640)
Members' interests at 30 September 2025
100
9,920,333
-
9,920,433
6,880,384
6,880,384
16,800,817
ZERO THREE CARE HOMES LLP
RECONCILIATION OF MEMBERS' INTERESTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 13 -
Prior financial year
EQUITY
DEBT
TOTAL
Members' other interests
Loans and other debts due to members less any amounts due from members in debtors
MEMBERS'
INTERESTS
Members' capital
Revaluation
reserve
Other reserves
Total
Other amounts
Total
Total
2024
£
£
£
£
£
£
£
Members' interests at 1 October 2023
100
8,761,030
-
8,761,130
5,451,983
5,451,983
14,213,113
Profit for the financial year available for discretionary division among members
-
-
2,056,498
2,056,498
-
-
2,056,498
Members' interests after profit for the year
100
8,761,030
2,056,498
10,817,628
5,451,983
5,451,983
16,269,611
Allocation of profit for the financial year
-
-
(2,056,498)
(2,056,498)
2,056,498
2,056,498
-
Repayment of debt (including members' capital classified as a liability)
-
-
-
-
(696,678)
(696,678)
(696,678)
Members' interests at 30 September 2024
100
8,761,030
-
8,761,130
6,811,803
6,811,803
15,572,933
ZERO THREE CARE HOMES LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 14 -
1
Accounting policies
Limited liability partnership information

Zero Three Care Homes LLP is a limited liability partnership incorporated in England and Wales. The registered office is 10 Lower Thames Street, London, EC3R 6EN.

1.1
Basis of preparation

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2021, under the Limited Liability Partnership Act 2000.

The financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

This limited liability partnership is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this limited liability partnership, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The limited liability partnership has therefore taken advantage of exemptions from the following disclosure requirements:

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

- Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

The financial statements of the limited liability partnership are consolidated in the financial statements of Zero Midco Limited. These consolidated financial statements are available from its registered office, 10 Lower Thames Street, London, EC3R 6EN.

1.2
Going concern

The company is in a net current liability position of £1,065,564 (2024: £929,446) at the balance sheet date, w hich includes £816,986 (2024: 466,393) owing to connected companies,

At the balance sheet date, £6,880,384 (2024: £6,811,803) is due to corporate members, of which the directors have confirmed in writing will not be recalled until the companies are in a position to repay this and for at least 12 months from the date these financial statements are signed.

The members have considered the forecasted future operations of the company and that the ultimate parent undertaking has confirmed to provide continuing financial support to the company, and have concluded that the company will have adequate resources to continue in business for the foreseeable future, being at least 12 months from the date of approval of these financial statements. The directors continue to adopt the going concern basis of accounting in preparing these financial statements.

ZERO THREE CARE HOMES LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 15 -
1.3
Turnover

Turnover is recognised at the fair value of the consideration received for services provided in relation to residential care in the normal course of business, and is shown net of VAT and other sales-related taxes

Revenue from the sale of residential care services is recognised at the point at which those services have been provided to the customer, and invoices are raised in line with the terms of contracts with customers. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

1.4
Members' participating interests

Members' participation rights are the rights of a member against the LLP that arise under the m embers' agreement (for example, in respect of amounts subscribed or otherwise contributed remuneration and profits).

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within ‘Members' remuneration charged as an expense’ in arriving at the relevant year’s result. Undivided amounts that are classified as equity are shown within ‘Members' other interests’. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members’ interests.

Where there exists an asset and liability component in respect of an individual member’s participation rights, they are presented on a gross basis unless the LLP has both a legally enforceable right to set off the recognised amounts, and it intends either to settle on a net basis or to settle and realise these amounts simultaneously, in which case they are presented net.

Once an unavoidable obligation has been created in favour of members through allocation of profits or other means, any undrawn profits remaining at the reporting date are shown as ‘Loans and other debts due to members’ to the extent they exceed debts due from a specific member.

1.5
Tangible fixed assets

With the exception of freehold property, Tangible fixed assets are initially measured a t cost less accumulated depreciation and any impairment losses.

Freehold property is stated in the balance sheet at revalued amounts, being the fair value on the date of revaluation less any subsequent depreciation and impairment losses. Revaluations are performed every 4yrs such that the carrying amount does not differ materially from that with could be determined using fair values at the reporting end date. Valuations are made against open markets, last valued on 3 July 2025.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
1% on cost
Plant and equipment
25% reducing balance
Fixtures and fittings
25% reducing balance
Computers
25% reducing balance
Motor vehicles
25% reducing balance
ZERO THREE CARE HOMES LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 16 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the income statement.

Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and loss are recognised in profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the limited liability partnership reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the limited liability partnership estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The limited liability partnership has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the limited liability partnership's statement of financial position when the limited liability partnership becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and 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.

ZERO THREE CARE HOMES LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 17 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the limited liability partnership transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of 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 limited liability partnership after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

ZERO THREE CARE HOMES LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 18 -
Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the limited liability partnership’s obligations expire or are discharged or cancelled.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the limited liability partnership is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Retirement benefits and post retirement payments to members

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Leases

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

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease d asset are consumed.

ZERO THREE CARE HOMES LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 19 -
2
Judgements and key sources of estimation uncertainty

In the application of the limited liability partnership’s accounting policies, the members are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Going concern

The directors are satisfied that the company is operating as a going concern and will continue for the foreseeable future.

In making their judgement, the directors have prepared a detailed business plan and rolling cash flow forecasts and in conjunction with the company's resources and obligations, have concluded that the company will able to meet its liabilities as they fall due for the foreseeable future.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Tangible fixed asset depreciation

Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

Valuation of land and buildings

Freehold property and improvements are stated at cost and revalued every 4 years on an open-market basis by independent professional valuers. The level of uncertainty in the UK property market has increased the degree of judgment involved in the valuations.

3
Operating profit
2025
2024
Operating profit for the year is stated after charging:
£
£
Depreciation of owned tangible fixed assets
317,656
295,367
Operating lease charges
55,520
37,450
ZERO THREE CARE HOMES LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 20 -
4
Auditor's remuneration
2025
2024
Fees payable to the LLP's auditor and associates:
£
£
For audit services
Audit of the financial statements of the LLP
20,000
17,500
For other services
All other non-audit services
8,050
11,250

Non audit services relate to preparation of the financial statements for the this company and others in the group.

5
Employees

The average number of persons (excluding members) employed by the partnership during the year was:

2025
2024
Number
Number
Direct labour
331
316
Direct managers
20
19
Head office
12
12
Psychologists
3
3
Maintenance
1
3
Total
367
353

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
9,361,033
8,061,496
Social security costs
965,467
646,757
Pension costs
169,984
133,863
10,496,484
8,842,116
6
Information in relation to members
2025
2024
Number
Number
Average number of members during the year
2
2
2025
2024
£
£
Profit attributable to the member with the highest entitlement
2,807,221
2,056,664
ZERO THREE CARE HOMES LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 21 -
7
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
659
446
8
Interest payable and similar expenses
2025
2024
£
£
Other finance costs:
Interest on finance leases and hire purchase contracts
575,377
351,025
9
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
£
Cost or valuation
At 1 October 2024
26,088,268
63,819
114,963
16,891
246,804
26,530,745
Additions
503,434
25,437
57,521
25,144
41,130
652,666
Disposals
-
-
-
-
(68,294)
(68,294)
Revaluation
133,298
-
-
-
-
133,298
At 30 September 2025
26,725,000
89,256
172,484
42,035
219,640
27,248,415
Depreciation and impairment
At 1 October 2024
825,326
53,803
79,315
4,748
143,269
1,106,461
Depreciation charged in the year
267,491
4,901
16,200
5,598
23,466
317,656
Eliminated in respect of disposals
-
-
-
-
(49,436)
(49,436)
Revaluation
(1,026,006)
-
-
-
-
(1,026,006)
At 30 September 2025
66,811
58,704
95,515
10,346
117,299
348,675
Carrying amount
At 30 September 2025
26,658,189
30,552
76,969
31,689
102,341
26,899,740
At 30 September 2024
25,262,942
10,016
35,648
12,143
103,535
25,424,284

The carrying value of land and buildings includes the following in respect of assets held under finance leases:

2025
2024
£
£
Freehold
7,107,187
5,091,254
Long leasehold
19,551,000
20,170,688
26,658,187
25,261,942
ZERO THREE CARE HOMES LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
9
Tangible fixed assets
(Continued)
- 22 -

The following asset s are carried at valuation. If the assets were measured using the cost model, the carrying amounts would be as follows:

Freehold land and buildings
2025
2024
£
£
Cost
14,338,791
13,838,402
Accumulated depreciation
(1,146,857)
(1,006,451)
Carrying value
13,191,934
12,831,951
10
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
376,379
352,752
Amounts owed by group undertakings
-
26,991
Other debtors
47,860
42,112
Prepayments and accrued income
337,868
244,923
762,107
666,778
11
Creditors: amounts falling due within one year
2025
2024
Notes
£
£
Bank loans and overdrafts
2,640
-
Obligations under finance leases
13
97,002
106,597
Trade creditors
457,155
232,082
Amounts owed to group undertakings
816,986
466,393
Other taxation and social security
241,030
178,848
Other creditors
709,284
640,161
Accruals and deferred income
90,019
54,455
2,414,116
1,678,536

Amounts owed to group undertakings are inclusive of £751,762 (2024: £466,393) owed to SAS Support & Solutions limited a company under common ownership, and £65,224 (2024: £NIL) owed to SAS Homecare Limited a company under common ownership.

ZERO THREE CARE HOMES LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 23 -
12
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Obligations under finance leases
13
9,033,359
8,921,905

At the statement of financial position date, Shawbrook Bank Limited held a fixed and floating charge dated 30 January 202 4 over the property held by the company.

On 29 July 2025, a fixed and floating charge was created in favour of Downing LLP, and covers all the property or undertaking of the partnership.

13
Finance lease obligations
2025
2024
Future minimum lease payments due under finance leases:
£
£
Within one year
97,001
106,597
Within two and five years
431,602
467,376
In over five years
8,601,757
8,454,529
9,130,360
9,028,502

Finance lease liabilities are stated after deducting £165,978 of costs associated with the raising of this finance, which are being released to the profit and loss account over the term of the finance leases. The implicit interest rate on the finance lease liabilities is 3.76% at year end, with an adjustable rate between 2% and 5% linked to RPI. Finance lease liabilities are payable in monthly instalments over a 40 year term with a final repayment due in 2063 and are secured against the freehold properties to which they relate.

14
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
169,984
133,863

The limited liability partnership operates a defined contribution pension scheme for all qualifying employees.

The assets of the scheme are held separately from those of the limited liability partnership in an independently administered fund.

ZERO THREE CARE HOMES LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 24 -
15
Loans and other debts due to members
2025
2024
£
£
Analysis of loans
Amounts falling due within one year
6,880,384
6,811,803

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.

During the period, the members have drawn £2,807,221 from the LLP, and repaid £2,738,640 to the LLP.

16
Operating lease commitments
Lessee

At the reporting end date the limited liability partnership had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2025
2024
£
£
Within one year
24,000
33,190
Between two and five years
98,000
-
122,000
33,190
17
Ultimate controlling party

The limited liability partnership's immediate Members are Sky Care Homes Limited and Zero Midco Limited, both Companies are incorporated in England and Wales. Zero Midco Limited holds 100% of shares in Sky Care Homes Limited.

The smallest group in which Zero Three Care Homes LLP is consolidated within is Zero Midco Limited, whereby the financial statements of the group are available through Companies House for public inspection.

The ultimate controlling party is Branson Ztc Bidco Limited, a company incorporated in England and Wales. This appointment has changed during the year, having previously been Zero Topco Limited for the period ended 2024.

The ultimate parent is Branson ZTC Topco Limited, incorporated in England and Wales. This was previously Zero Topco Limited for the period end 2024. Due to the entity's ownership structure, there is no controlling party.

Branson ZTC Topco Limited has confirmed to provide continuous financial support to the company for at least 12 months from the date of approval for these financial statements. There is no interest being charged to any loans provided by the ultimate parent, and will not be called up for repayment within 12 months of approving these financial statements.

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