Registration number:
Premiere Health Limited
for the Year Ended 31 October 2025
Registration number:
Premiere Health Limited
for the Year Ended 31 October 2025
Premiere Health Limited
Contents
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Company Information |
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Strategic Report |
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Directors' Report |
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Independent Auditor's Report |
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Consolidated Statement of Comprehensive Income |
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Consolidated Statement of Financial Position |
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Statement of Financial Position |
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Consolidated Statement of Changes in Equity |
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Statement of Changes in Equity |
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Consolidated Statement of Cash Flows |
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Notes to the Financial Statements |
Premiere Health Limited
Company Information
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Directors |
Mr Kevin Briscoe Mr Robert Briscoe |
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Company secretary |
Mr Kevin Briscoe |
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Registered office |
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Auditors |
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Premiere Health Limited
Strategic Report for the Year Ended 31 October 2025
The directors present their strategic report for the year ended 31 October 2025.
Principal activity
The principal activity of the group is that of the operation of residential and nursing homes.
Fair review of the business
Turnover for the group increased by 5.5% from 2024. On average Cann house had 87% occupancy throughout the year. As at October it has 79% occupancy with 41 rooms being occupied out of the 52 rooms. Hartley Park Care Home's occupancy has increased in the year with an average occupancy of 98.2%. As at October it had 98% occupancy with 65 out of 66 rooms being occupied.
The gross profit margin is largely in-line with the prior year, with overall occupancy for the group remaining similar.
The net current assets of the group have increased by13.5% and net assets have increased by 8.7% based on profits made by the group in the period.
The company's key financial and other performance indicators during the year were as follows:
|
Financial KPIs |
Unit |
2025 |
2024 |
|
Turnover |
£ |
6,925,041 |
6,566,673 |
|
Gross profit |
£ |
2,276,836 |
2,190,949 |
|
Gross profit margin |
% |
33 |
33 |
|
Net profit |
£ |
907,849 |
966,883 |
|
Net profit margin |
% |
13.1 |
14.7 |
|
Net assets |
£ |
9,486,567 |
8,728,161 |
Principal risks and uncertainties
Management consider that the principal risk to the business would be a negative review from a Care Quality Commission inspection that could result in an enforcement action and the subsequent impact on the reputation of the care home. To mitigate this risk all care staff are trained to a high level and there is a focus on retaining high quality staff that management trust, together with a compliance manager as part of the team.
The company also considers a major financial risk of the business to be linked to the funding received from local authorities and the associated risks regarding cutbacks of public funding, along with falls in occupancy levels and privately funded residents. To mitigate these risks the company has a mix of both privately and publicly funded residents and seeks to build upon its excellent reputation through retention of its high quality staff.
Approved and authorised by the
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......................................... |
Premiere Health Limited
Directors' Report for the Year Ended 31 October 2025
The directors present their report and the for the year ended 31 October 2025.
Directors of the group
The directors who held office during the year were as follows:
Dividends
Dividends were voted during the period of £160,000 (2024: £166,000) as broken down in note 18.
Statement of Director's Responsibilities
The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and the company and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:
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• |
select suitable accounting policies and apply them consistently; |
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• |
make judgements and accounting estimates that are reasonable and prudent; |
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• |
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
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• |
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 group's and the company's transactions and disclose with reasonable accuracy at any time the financial position of the group and 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 group and the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Disclosure of information to the auditor
Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditor is unaware.
Approved and authorised by the
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Premiere Health Limited
Independent Auditor's Report to the Members of Premiere Health Limited
Opinion
We have audited the financial statements of Premiere Health Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 October 2025, which comprise the Consolidated Statement of Comprehensive Income, Consolidated Statement of Financial Position, Statement of Financial Position, Consolidated Statement of Changes in Equity, Statement of Changes in Equity, Consolidated Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• | give a true and fair view of the state of the group's and the parent company's affairs as at 31 October 2025 and of the group's profit for the year then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; 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 responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were 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 directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
Premiere Health Limited
Independent Auditor's Report to the Members of Premiere Health Limited (continued)
We have nothing to report in this regard.
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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• |
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 |
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• |
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our 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 and the Directors' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the parent company financial statements are not in agreement with the accounting records and returns; or |
• | certain disclosures of directors' remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors
As explained more fully in the [set out on page ], 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.
Auditor 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:
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• |
We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience and through discussion with the directors and other management, no issues were noted. We communicated identified laws and regulations throughout our team, and remained alert to any indications of non-compliance throughout the audit. |
Premiere Health Limited
Independent Auditor's Report to the Members of Premiere Health Limited (continued)
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• |
The Group is subject to laws and regulations that govern the preparation of the financial statements, including financial reporting legislation, and other companies legislation. The Group is also subject to other laws and regulations where the consequences of non-compliance could have a material impact on the amounts or disclosures within the financial statements, including employment, anti-bribery, anti-money laundering and certain aspects of companies legislation relating to health and social care regulations. We identified the following as most likely areas to have such an effect: anti-money laundering, employment and health and social care regulations. The Group's activities are regulated by the Care Quality Commission. |
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• |
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. In any audit, there remains a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations. |
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As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. we also: |
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Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. |
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Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. |
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Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. |
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Conclude on the appropriateness of the directors use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern. |
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Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. |
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We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control. |
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.
Premiere Health Limited
Independent Auditor's Report to the Members of Premiere Health Limited (continued)
Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
......................................
For and on behalf of
Marsh Mills
Plymouth
Devon
PL6 8LT
Premiere Health Limited
Consolidated Statement of Comprehensive Income for the Year Ended 31 October 2025
|
Note |
2025 |
2024 |
|
|
Turnover |
|
|
|
|
Cost of sales |
( |
( |
|
|
Gross profit |
|
|
|
|
Administrative expenses |
( |
( |
|
|
Operating profit |
|
|
|
|
Other interest receivable and similar income |
|
|
|
|
Interest payable and similar expenses |
( |
( |
|
|
(38,363) |
3,548 |
||
|
Profit before tax |
|
|
|
|
Tax on profit |
( |
( |
|
|
Profit for the financial year |
|
|
|
Other comprehensive income |
10,557 |
10,557 |
|
Total comprehensive income for the year |
|
|
|
Total comprehensive income attributable to: |
||
|
Owners of the company |
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|
Premiere Health Limited
(Registration number: 03183733)
Consolidated Statement of Financial Position as at 31 October 2025
|
Note |
2025 |
2024 |
|
|
Fixed assets |
|||
|
Tangible assets |
|
|
|
|
Current assets |
|||
|
Debtors |
|
|
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current assets |
|
|
|
|
Total assets less current liabilities |
|
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
|
Provisions for liabilities |
( |
( |
|
|
Net assets |
|
|
|
|
Capital and reserves |
|||
|
Called up share capital |
100 |
100 |
|
|
Share premium reserve |
790,493 |
790,493 |
|
|
Revaluation reserve |
1,449,372 |
1,491,598 |
|
|
Profit and loss account |
7,246,602 |
6,445,970 |
|
|
Equity attributable to owners of the company |
9,486,567 |
8,728,161 |
|
|
Shareholders' funds |
9,486,567 |
8,728,161 |
Approved and authorised by the
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Premiere Health Limited
(Registration number: 03183733)
Statement of Financial Position as at 31 October 2025
|
Note |
2025 |
2024 |
|
|
Fixed assets |
|||
|
Tangible assets |
|
|
|
|
Investments |
|
|
|
|
|
|
||
|
Current assets |
|||
|
Debtors |
|
|
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current assets |
|
|
|
|
Total assets less current liabilities |
|
|
|
|
Provisions for liabilities |
( |
( |
|
|
Net assets |
|
|
|
|
Capital and reserves |
|||
|
Called up share capital |
100 |
100 |
|
|
Share premium reserve |
790,493 |
790,493 |
|
|
Revaluation reserve |
1,449,372 |
1,491,598 |
|
|
Profit and loss account |
1,688,865 |
1,531,393 |
|
|
Shareholders' funds |
3,928,830 |
3,813,584 |
As permitted by Section 408 of the Companies Act 2006 the Profit and Loss Account of Premiere Health Limited has not been presented with the financial statements.
The company made a profit after tax for the financial year of £264,689 (2024 - profit of £347,460).
Approved and authorised by the
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Premiere Health Limited
Consolidated Statement of Changes in Equity for the Year Ended 31 October 2025
Equity attributable to the parent company
|
Share capital |
Share premium |
Revaluation reserve |
Profit and loss account |
Total |
|
|
At 1 November 2023 |
|
|
|
|
|
|
Profit for the year |
- |
- |
- |
|
|
|
Transfers |
- |
- |
(54,468) |
54,468 |
- |
|
Tax relating to components of other comprehensive income |
- |
- |
10,557 |
- |
10,557 |
|
Total comprehensive income |
- |
- |
( |
|
|
|
Dividends |
- |
- |
- |
( |
( |
|
At 31 October 2024 |
100 |
790,493 |
1,491,598 |
6,445,970 |
8,728,161 |
|
Share capital |
Share premium |
Revaluation reserve |
Profit and loss account |
Total |
|
|
At 1 November 2024 |
|
|
|
|
|
|
Profit for the year |
- |
- |
- |
|
|
|
Transfers |
- |
- |
(52,783) |
52,783 |
- |
|
Tax relating to components of other comprehensive income |
- |
- |
10,557 |
- |
10,557 |
|
Total comprehensive income |
- |
- |
( |
|
|
|
Dividends |
- |
- |
- |
( |
( |
|
At 31 October 2025 |
|
|
|
|
|
Premiere Health Limited
Statement of Changes in Equity for the Year Ended 31 October 2025
|
Share capital |
Share premium |
Revaluation reserve |
Profit and loss account |
Total |
|
|
At 1 November 2023 |
|
|
|
|
|
|
Profit for the year |
- |
- |
- |
|
|
|
Transfers |
- |
- |
(54,468) |
54,468 |
- |
|
Tax relating to components of other comprehensive income |
- |
- |
10,557 |
- |
10,557 |
|
Total comprehensive income |
- |
- |
( |
|
|
|
Dividends |
- |
- |
- |
( |
( |
|
At 31 October 2024 |
100 |
790,493 |
1,491,598 |
1,531,393 |
3,813,584 |
|
Share capital |
Share premium |
Revaluation reserve |
Profit and loss account |
Total |
|
|
At 1 November 2024 |
|
|
|
|
|
|
Profit for the year |
- |
- |
- |
|
|
|
Transfers |
- |
- |
(52,783) |
52,783 |
- |
|
Tax relating to components of other comprehensive income |
- |
- |
10,557 |
- |
10,557 |
|
Total comprehensive income |
- |
- |
( |
|
|
|
Dividends |
- |
- |
- |
( |
( |
|
At 31 October 2025 |
|
|
|
|
|
Premiere Health Limited
Consolidated Statement of Cash Flows for the Year Ended 31 October 2025
|
Note |
2025 |
2024 |
|
|
Cash flows from operating activities |
|||
|
Profit for the year |
|
|
|
|
Adjustments to cash flows from non-cash items |
|||
|
Depreciation and amortisation |
|
|
|
|
Profit on disposal of tangible assets |
( |
( |
|
|
Finance income |
( |
( |
|
|
Finance costs |
|
|
|
|
Income tax expense |
|
|
|
|
|
|
||
|
Working capital adjustments |
|||
|
Increase in trade debtors |
( |
( |
|
|
(Decrease)/increase in trade creditors |
( |
|
|
|
Cash generated from operations |
|
|
|
|
Income taxes paid |
( |
( |
|
|
Net cash flow from operating activities |
( |
|
|
|
Cash flows from investing activities |
|||
|
Interest received |
|
|
|
|
Acquisitions of tangible assets |
( |
( |
|
|
Proceeds from sale of tangible assets |
|
|
|
|
Net cash flows from investing activities |
( |
|
|
|
Cash flows from financing activities |
|||
|
Interest paid |
( |
( |
|
|
Repayments of bank borrowings |
( |
( |
|
|
Dividends |
(160,000) |
(166,000) |
|
|
Net cash flows from financing activities |
( |
( |
|
|
Net (decrease)/increase in cash and cash equivalents |
( |
|
|
|
Cash and cash equivalents at 1 November |
|
|
|
|
Cash and cash equivalents at 31 October |
1,530,691 |
2,041,285 |
|
Premiere Health Limited
Notes to the Financial Statements for the Year Ended 31 October 2025
|
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal place of business is:
Cann House Care Home
Tamerton Foliot
Plymouth
Devon
PL5 4LE
These financial statements were authorised for issue by the
|
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are prepared in sterling which is the functional currency of the entity.
Premiere Health Limited
Notes to the Financial Statements for the Year Ended 31 October 2025 (continued)
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2 |
Accounting policies (continued) |
Basis of consolidation
The consolidated financial statements consolidate the financial statements of the company and its subsidiary undertakings drawn up to 31 October 2025.
The group financial statements consolidate the accounts of Premiere Health Limited and its subsidiary undertaking Abholly (2008) Limited made up to 31 October 2025. The registered office of the subsidiary is Plym House, 3 Longbridge Road, Marsh Mills, Plymouth, PL6 8LT
A subsidiary is an entity controlled by the company. Control is achieved where the company has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.
Turnover and profits arising on trading between group companies are excluded.
A separate income statement for the company itself is not required following the exemptions afforded by Section 408 of the companies act.
Inter-company transactions, balances and unrealised gains on transactions between the company and its subsidiaries, which are related parties, are eliminated in full.
Intra-group losses are also eliminated but may indicate an impairment that requires recognition in the consolidated financial statements.
Going concern
The directors assessed that the group will have adequate resources available to finance its trading and other obligations during the course of twelve months from the approval date of these financial statements. They have therefore been prepared on a going concern basis.
Judgements
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. |
Revenue recognition
Turnover relates to income received from residents of the nursing and care homes and income received from the domiciliary care clients. Income from residents of the nursing and care homes and from domiciliary care clients is recognised, as earned, through the provision of contracted services. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Premiere Health Limited
Notes to the Financial Statements for the Year Ended 31 October 2025 (continued)
|
2 |
Accounting policies (continued) |
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the group operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the consolidated financial statements.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
|
Asset class |
Depreciation method and rate |
|
Freehold property |
2% straight line |
|
Plant and machinery |
10-25% straight line |
|
Fixtures and fittings |
20% straight line |
|
Motor vehicles |
25% straight line |
|
Computer equipment |
20% straight line |
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit loss.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Premiere Health Limited
Notes to the Financial Statements for the Year Ended 31 October 2025 (continued)
|
2 |
Accounting policies (continued) |
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the group has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the group’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the group has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Premiere Health Limited
Notes to the Financial Statements for the Year Ended 31 October 2025 (continued)
|
2 |
Accounting policies (continued) |
Financial instruments
Recognition and measurement
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at fair value.
Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extend that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
|
Turnover |
The analysis of the group's turnover for the year from continuing operations is as follows:
|
2025 |
2024 |
|
|
Rendering of services |
|
|
|
Other revenue |
|
|
|
|
|
All income is from sales made within the UK.
|
Operating profit |
Arrived at after charging/(crediting)
|
2025 |
2024 |
|
|
Depreciation expense |
|
|
|
Profit on disposal of property, plant and equipment |
( |
( |
Premiere Health Limited
Notes to the Financial Statements for the Year Ended 31 October 2025 (continued)
|
Other interest receivable and similar income |
|
2025 |
2024 |
|
|
Interest received |
|
|
|
Interest payable and similar expenses |
|
2025 |
2024 |
|
|
Interest on bank overdrafts and borrowings |
|
|
|
Staff costs |
The aggregate payroll costs (including directors' remuneration) were as follows:
|
2025 |
2024 |
|
|
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Pension costs, defined contribution scheme |
|
|
|
Other employee expense |
|
|
|
|
|
The average number of persons employed by the group (including directors) during the year, analysed by category was as follows:
|
2025 |
2024 |
|
|
Care staff |
|
|
|
Management |
|
|
|
|
|
|
Directors' remuneration |
The directors' remuneration for the year was as follows:
|
2025 |
2024 |
|
|
Contributions paid to money purchase schemes |
|
|
Premiere Health Limited
Notes to the Financial Statements for the Year Ended 31 October 2025 (continued)
|
Auditors' remuneration |
|
2025 |
2024 |
|
|
Audit of these financial statements |
11,499 |
10,567 |
|
Other fees to auditors |
||
|
All non-audit services |
|
|
|
Taxation |
Tax charged/(credited) in the consolidated statement of comprehensive income
|
2025 |
2024 |
|
|
Current taxation |
||
|
UK corporation tax |
|
|
|
Deferred taxation |
||
|
Arising from origination and reversal of timing differences |
|
( |
|
Tax expense in the income statement |
|
|
Tax recognised as other comprehensive income or equity
The aggregate current and deferred tax relating to items recognised as other comprehensive income or equity for the year was £10,557 (2024: £10,557)
The tax on profit before tax for the year is higher than the standard rate of corporation tax in the UK (2024 - higher than the standard rate of corporation tax in the UK) of
The differences are reconciled below:
|
2025 |
2024 |
|
|
Profit before tax |
|
|
|
Profit on ordinary activities by rate of tax |
|
|
|
Tax increase/(decrease) from effect of capital allowances and depreciation |
|
( |
|
Effect of expense not deductible for tax purposes |
|
|
|
Deferred tax debit/(credit) charged |
|
( |
|
Total tax charge |
|
|
Premiere Health Limited
Notes to the Financial Statements for the Year Ended 31 October 2025 (continued)
|
Tangible assets |
Group
|
Freehold property |
Fixtures and fittings |
Plant and machinery |
Computer equipment |
Motor vehicles |
Total |
|
|
Cost or valuation |
||||||
|
At 1 November 2024 |
|
|
|
|
|
|
|
Additions |
- |
|
|
|
|
|
|
Disposals |
- |
- |
- |
( |
( |
( |
|
At 31 October 2025 |
|
|
|
|
|
|
|
Depreciation |
||||||
|
At 1 November 2024 |
|
|
|
|
|
|
|
Charge for the year |
|
|
|
|
|
|
|
Eliminated on disposal |
- |
- |
- |
( |
( |
( |
|
At 31 October 2025 |
|
|
|
|
|
|
|
Carrying amount |
||||||
|
At 31 October 2025 |
|
|
|
|
|
|
|
At 31 October 2024 |
|
|
|
|
|
|
Premiere Health Limited
Notes to the Financial Statements for the Year Ended 31 October 2025 (continued)
|
11 |
Tangible assets (continued) |
Restriction on title and pledged as security
Property, plant and equipment with a carrying amount of £2,289,330 (2024 - £2,388,191) has been pledged as security for the bank loan in Abholly (2008) Limited.
Tangible assets held at valuation
The fair value at the Group's freehold property was revalued on 4 February 2010 by an independent valuer. The basis of this valuation was market value. Had this class of asset been measured on a historical cost basis, the carrying value would have been £2,831,031 (2024 - £2,885,128).
Company
|
Freehold property |
Fixtures and fittings |
Computer equipment |
Motor vehicles |
Total |
|
|
Cost or valuation |
|||||
|
At 1 November 2024 |
|
|
|
|
|
|
Additions |
- |
- |
|
|
|
|
Disposals |
- |
- |
( |
( |
( |
|
At 31 October 2025 |
|
|
|
|
|
|
Depreciation |
|||||
|
At 1 November 2024 |
|
|
|
|
|
|
Charge for the year |
|
|
|
|
|
|
Eliminated on disposal |
- |
- |
( |
( |
( |
|
At 31 October 2025 |
|
|
|
|
|
|
Carrying amount |
|||||
|
At 31 October 2025 |
|
|
|
|
|
|
At 31 October 2024 |
|
|
|
- |
|
Tangible assets held at valuation
The fair value at the Company's freehold property was revalued on 4 February 2010 by an independent valuer. The basis of this valuation was market value. Had this class of asset been measured on a historical cost basis, the carrying value would have been £629,572 (2024 - £633,694).
|
Investments |
Company
|
2025 |
2024 |
|
|
Shares in group undertakings |
4 |
4 |
Premiere Health Limited
Notes to the Financial Statements for the Year Ended 31 October 2025 (continued)
|
12 |
Investments (continued) |
Investments in Group undertakings
The Company owns 100% of the share capital of its subsidiary Abholly (2008) Limited which is incorporated in England. The registered office is Plym House, 3 Longbridge Road, Marsh Mills, Plymouth, Devon, PL6 8LT. The subsidiary operates a nursing home.
|
Debtors |
|
Group |
Company |
|||
|
Current |
2025 |
2024 |
2025 |
2024 |
|
Other debtors |
|
|
|
|
|
Prepayments |
|
|
|
|
|
|
|
|
|
|
|
Creditors |
|
Group |
Company |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
Due within one year |
||||
|
Bank borrowings |
|
|
- |
- |
|
Trade creditors |
|
|
|
|
|
Amounts due to group undertakings |
- |
- |
|
|
|
Social security and other taxes |
|
|
|
|
|
Other payables |
|
|
|
( |
|
Accruals |
|
|
|
|
|
Income tax liability |
262,048 |
269,225 |
27,123 |
135,063 |
|
|
|
|
|
|
|
Due after one year |
||||
|
Bank borrowings |
|
|
- |
- |
Premiere Health Limited
Notes to the Financial Statements for the Year Ended 31 October 2025 (continued)
|
Provisions for liabilities |
Group
|
Deferred tax |
Total |
|
|
At 1 November 2024 |
|
|
|
Increase (decrease) in existing provisions |
|
|
|
Provisions used |
( |
( |
|
At 31 October 2025 |
|
|
|
|
||
Company
|
Deferred tax |
Total |
|
|
At 1 November 2024 |
|
|
|
Provisions used |
( |
( |
|
At 31 October 2025 |
|
|
|
|
||
|
Share capital |
Allotted, called up and fully paid shares
|
2025 |
2024 |
|||
|
No. |
£ |
No. |
£ |
|
|
Ordinary shares of £1 each |
96 |
96 |
96 |
96 |
|
Ordinary A shares of £1 each |
1 |
1 |
1 |
1 |
|
Ordinary B Shares of £1 each |
1 |
1 |
1 |
1 |
|
Ordinary C Shares of £1 each |
1 |
1 |
1 |
1 |
|
Ordinary D shares of £1 each |
1 |
1 |
1 |
1 |
|
|
|
|
|
|
|
Reserves |
Company
Profit and loss account
This reserve records retained earnings and accumulated losses.
Revaluation reserve:
This reserve records revaluations of tangible assets and these reserves are non distributable
Premiere Health Limited
Notes to the Financial Statements for the Year Ended 31 October 2025 (continued)
|
17 |
Reserves (continued) |
Share premium account:
This reserve includes any premiums received on issue of share capital. Any transaction costs associated with the issuing of shares are deducted from share premium.
|
Dividends |
Final dividends paid
|
2025 |
2024 |
|||
|
Final dividend of £ |
|
|
||
|
Final dividend of £Nil (2024 - £ |
- |
|
||
|
Final dividend of £Nil (2024 - £ |
- |
|
||
|
Final dividend of £Nil (2024 - £ |
- |
|
||
|
Final dividend of £Nil (2024 - £ |
- |
|
||
|
|
|
|
Related party transactions |
Group
|
Transactions with directors |
|
2025 |
At 1 November 2024 |
Advances to director |
Repayments by director |
At 31 October 2025 |
|
Mr Robert Briscoe |
||||
|
|
|
|
( |
|
|
Mr Kevin Briscoe |
||||
|
|
|
|
( |
|
Premiere Health Limited
Notes to the Financial Statements for the Year Ended 31 October 2025 (continued)
|
19 |
Related party transactions (continued) |
|
2024 |
At 1 November 2023 |
Advances to director |
Repayments by director |
At 31 October 2024 |
|
Mr Robert Briscoe |
||||
|
|
|
|
( |
|
|
Mr Kevin Briscoe |
||||
|
|
|
|
( |
|
Interest of 2% was charged on outstanding director loan balances up to 31 October 2024, at which point the loans became interest free.. As there are no terms and conditions attached to these loans the amounts are treated as being repayable on demand, and are unsecured.
Loans to related parties
|
2025 |
Other related parties |
Total |
|
At start of period |
( |
( |
|
Advanced |
( |
( |
|
At end of period |
( |
( |
|
|
||
|
2024 |
Other related parties |
Total |
|
At start of period |
( |
( |
|
Advanced |
( |
( |
|
At end of period |
( |
( |
|
|
||
Terms of loans to related parties
The directors do not consider any employees other than statutory directors, whose remuneration is disclosed in Directors' remuneration, to be key management personnel within the definition contained in FRS 102.
|
Controlling party |