| Tregwilym Lodge Limited |
| Strategic Report |
|
| The directors present the strategic report for the year ended 31 October 2025. |
|
| Review of the business |
| The results of the company for the year are set out on page 8 and the position at 31 October 2025 is shown on page 10. |
|
| For the year ended 31 October 2025, the Company reported turnover of £7.95m (2024: £6.23m), representing a strong increase of 28% (£1.71m). Gross profit margin improved to 28% (2024: 23%), reflecting enhanced operational efficiency and improved occupancy levels. Operating profit increased to £1.17m (2024: £0.50m), an uplift of £0.67m, demonstrating a continued recovery in performance. |
|
| The company’s fixed assets stood at £4.7m (2024: £4.66m), while cash balances increased from £0.37m to £0.42m. Net current assets improved significantly, moving from a net liability position of £0.31m in 2024 to a net asset position of £0.1m at 31 October 2025. |
| The company’s long-term objective remains focused on delivering high-quality care and improving the wellbeing of its residents, particularly elderly individuals with dementia and those requiring end-of-life care. During the year, management’s primary focus has been on restoring occupancy levels to pre-COVID standards, enhancing care delivery, and maintaining sustainable margins. |
| The company operates within the UK social care sector, which continues to face structural challenges including workforce shortages, funding constraints, and increasing regulatory demands. While the sector has shown resilience since the COVID-19 pandemic, during which many care providers experienced severe disruption, the recovery remains uneven. The company has, however, made significant progress in stabilising and rebuilding its operations following the wider sector collapse during the pandemic. |
Despite this improvement, broader economic pressures persist. The ongoing cost-of-living crisis continues to impact both operating costs and staffing, while geopolitical instability—including the war in Ukraine and in the Middle East, alongside the longer-term effects of Brexit, continue to create a challenging economic environment in the UK. Inflationary pressures have contributed to an increase in overheads from £0.9m to £1.1m during the year.
Although recent reductions in interest rates have provided some relief, there remains uncertainty regarding future rate movements due to inflationary risks. The company continues to focus on strengthening its financial and operational foundations to navigate these ongoing challenges.
Given the critical role of the social care sector in supporting vulnerable populations, there remains a strong case for increased and sustained government support. Long-term funding reform, workforce investment, and policy stability will be essential to ensure the sector’s resilience and to enable providers such as the company to continue delivering high-quality care. |
| Principal risks and uncertainties |
|
| The company operates within the UK social care sector and is therefore exposed to a range of financial and operational risks. The directors continually monitor these risks and implement appropriate measures to mitigate their potential impact. |
|
| Economic and Funding Environment |
| The company’s performance is closely linked to the broader UK economic environment. Factors such as inflation, energy costs, employment levels, and consumer confidence directly influence operating costs and the availability of public funding. Uncertainty in the UK and global economy may place pressure on government finances, potentially affecting funding levels for the NHS and local authorities, which are key commissioners of social care services. The directors mitigate this risk through maintaining strong relationships with commissioning bodies and continuing to focus on high-quality care delivery, which supports sustainable fee rates. |
| Regulatory and Sector Risk |
| The social care sector in the United Kingdom continues to face structural challenges, including increased regulatory scrutiny, staffing shortages, and funding constraints. Changes in legislation, inspection regimes, or compliance requirements may impact the company’s operations and cost base. The directors actively monitor regulatory developments and ensure that the Company maintains high standards of compliance and care delivery. |
| Occupancy and Demand Risk |
| The company’s financial performance is dependent on maintaining appropriate occupancy levels within its care facilities. Demand may be affected by demographic trends, local authority funding decisions, or competition within the sector. The directors seek to mitigate this risk by maintaining high standards of care, investing in facilities, and fostering strong relationships with local authorities and healthcare providers. |
| Supplier Risk |
| The company procures goods and services from a broad range of suppliers and is not materially dependent on any single supplier. This diversification reduces concentration risk. The directors maintain regular communication with key suppliers and monitor pricing and availability to ensure continuity of supply, particularly in light of inflationary pressures. |
| Workforce and People Risk |
| The company’s success is dependent on the recruitment, retention, and development of skilled staff. The social care sector continues to experience workforce shortages and wage inflation. The directors recognise that employees are a key asset and are committed to providing a supportive working environment, competitive remuneration, and ongoing training to ensure high standards of care and staff engagement. |
| Cost Inflation and Energy Risk |
| Rising costs, particularly in relation to wages, utilities, and food supplies, represent a significant risk to margins. Energy price volatility remains a key concern. The directors monitor cost trends closely and, where possible, seek to improve operational efficiencies and negotiate fee increases with commissioners to offset rising costs. |
| Liquidity and Credit Risk |
| The company is exposed to credit risk in relation to amounts receivable from local authorities, the NHS, and private residents. The directors maintain robust credit control procedures, including regular monitoring of debtor balances and prompt follow-up of overdue amounts. The company also manages liquidity risk through careful cash flow forecasting and maintaining adequate cash reserves. |
| Interest Rate Risk |
| The company is exposed to interest rate risk on its borrowings. Changes in interest rates may impact financing costs and cash flow. The directors monitor interest rate movements and consider appropriate financing arrangements to manage this exposure. |
|
| Key performance indicators |
| The results of the company for the year are set out on page 8 and the financial position at 31 October 2025 is shown on page 10. |
| Future developments |
| The company will continue to focus on maintaining and improving margins through cost control and operational efficiencies, alongside regular review of fee structures. Priority will be given to increasing and sustaining occupancy levels while maintaining high standards of care. The directors plan to invest in the expansion and refurbishment of care home facilities to meet growing demand, particularly in dementia and specialist care. Ongoing investment in staff development and systems will support service quality and compliance. The company remains focused on sustainable growth despite continued sector and economic challenges. |
|
| This report was approved by the board on 30 July 2026 and signed by its order. |
|
|
|
| Brian Rosenberg |
| Director |
|
|
Motor vehicle |
25% straight line |
|
|
Revaluation of tangible fixed assets |
|
Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.
Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss. |
|
|
Investments |
|
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
|
|
Stocks |
|
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
Borrowings |
|
All borrowing costs are recognised in profit or loss in the period in which they are incurred. |
|
|
Finance costs |
|
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument. |
|
|
Leased assets |
|
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
Financial instruments |
|
The Company has elected to apply the provisions of Section 11 and 12 of FRS 102 in full in accounting for its financial instruments.
Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.
|
|
Other financial assets |
|
Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment. |
|
Impairment of financial assets
Financial assets are assessed for indicators of impairment at each reporting date.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss. |
|
Financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial. |
|
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method. |
|
Finance costs and borrowing costs |
|
Borrowing costs are recognised in profit or loss in the period in which they are incurred. Finance costs are recognised in profit or loss in the period in which they are incurred. Where borrowing transaction costs or arrangement fees are material, they are recognised over the term of the related borrowing using the effective interest method. |
|
|
Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Derecognition of financial instruments
Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled. |
| 2 |
Critical accounting judgements and key sources of estimation uncertainty |
|
|
In the application of the company’s accounting policies, the director is 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. |
|
|
The directors consider the following areas to involve the most significant judgements and estimates in the preparation of the financial statements: |
|
|
Going concern |
|
The directors have exercised judgement in assessing the company’s ability to continue as a going concern. In making this assessment, the directors have considered the company’s current and forecast occupancy levels, expected care fee income, local authority and private resident funding arrangements, payroll and agency staffing costs, utility and other operating cost inflation, loan repayments, available finance facilities and forecast cash flows for a period of at least twelve months from the date of approval of these financial statements. |
|
Having considered these matters, the directors are satisfied that the company has adequate resources to continue in operational existence for the foreseeable future and therefore continue to adopt the going concern basis of accounting in preparing the financial statements.
|
|
|
Revenue recognition |
|
Judgement is applied in determining the timing of revenue recognition for care services provided to residents. Revenue is recognised in the period in which the care services are provided. Estimation may be required where amounts are funded by local authorities, NHS bodies, private residents or third parties and where billing or funding confirmations are not finalised at the reporting date. |
|
|
Recoverability of trade debtors |
|
The directors estimate the recoverability of debtor balances by reviewing aged balances, payment history, local authority and third-party funding arrangements, disputes and other known circumstances affecting recovery. |
|
|
Carrying value and useful economic lives of property and fixed assets |
|
The directors assess whether there are any indicators of impairment in respect of the company’s property and other tangible fixed assets, taking into account asset condition, trading performance, occupancy levels, regulatory matters, market conditions and expected future cash flows. |
|
|
The directors also estimate the useful economic lives and residual values of tangible fixed assets when determining depreciation. These estimates are reviewed where circumstances indicate that they may have changed. Where an asset’s carrying amount exceeds its recoverable amount, an impairment loss is recognised. |
|
| 3 |
Analysis of turnover |
2025 |
|
2024 |
| £ |
£ |
|
|
Sale of services |
7,945,949 |
|
6,231,171 |
|
|
|
|
|
|
|
|
|
|
By geographical market: |
|
|
UK |
7,945,949 |
|
6,231,171 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Operating profit |
2025 |
|
2024 |
| £ |
£ |
|
This is stated after charging: |
|
|
Depreciation of owned fixed assets |
68,024 |
|
57,112 |
|
Auditors' remuneration for audit services |
12,000 |
|
- |
|
|
|
|
|
|
|
|
|
|
| 5 |
Staff costs |
2025 |
|
2024 |
| £ |
£ |
|
|
Wages and salaries |
4,921,304 |
|
4,097,979 |
|
Social security costs |
552,084 |
|
376,249 |
|
Other pension costs |
81,236 |
|
62,018 |
|
|
|
|
|
|
5,554,624 |
|
4,536,246 |
|
|
|
|
|
|
|
|
|
|
|
Average number of employees during the year |
Number |
Number |
|
|
Adminstration and care workers |
173 |
|
177 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Interest payable |
2025 |
|
2024 |
| £ |
£ |
|
|
Bank loans and overdrafts |
285,386 |
|
249,961 |
|
Other loans |
86,368 |
|
134,784 |
|
|
|
|
|
|
371,754 |
|
384,745 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Taxation |
2025 |
|
2024 |
| £ |
£ |
|
Analysis of charge in period |
|
Current tax: |
|
UK corporation tax on profits of the year |
62,802 |
|
- |
|
|
|
|
|
|
|
|
|
|
Deferred tax: |
|
Origination and reversal of timing differences |
10,611 |
|
11,303 |
|
|
|
|
|
|
|
|
|
|
|
Tax on profit on ordinary activities |
73,413 |
|
11,303 |
|
|
|
|
|
|
|
|
|
|
|
Factors affecting tax charge for period |
|
The differences between the tax assessed for the period and the standard rate of corporation tax are explained as follows: |
|
|
|
|
|
|
|
2025 |
|
2024 |
| £ |
£ |
|
Profit on ordinary activities before tax |
799,648 |
|
116,686 |
|
|
|
|
|
|
|
|
|
|
Standard rate of corporation tax in the UK |
25% |
|
25% |
|
| £ |
£ |
|
Profit on ordinary activities multiplied by the standard rate of corporation tax |
|
199,912 |
|
29,172 |
|
|
Effects of: |
|
Expenses not deductible for tax purposes |
22,830 |
|
(17,869) |
|
Capital allowances for period in excess of depreciation |
- |
|
- |
|
Utilisation of tax losses |
(113,481) |
|
- |
|
Group relief |
(35,848) |
|
- |
|
|
Total tax charge for the year |
73,413 |
|
11,303 |
|
|
|
|
|
|
|
|
|
|
| 8 |
Tangible fixed assets |
|
|
Land and buildings |
|
Motor vehicles |
|
Fixtures, fittings, tools and equipment |
|
Total |
| £ |
£ |
£ |
£ |
|
Cost or valuation |
|
At 1 November 2024 |
4,489,444 |
|
3,000 |
|
907,740 |
|
5,400,184 |
|
Additions |
38,672 |
|
- |
|
66,154 |
|
104,826 |
|
Disposals |
- |
|
(3,000) |
|
- |
|
(3,000) |
|
At 31 October 2025 |
4,528,116 |
|
- |
|
973,894 |
|
5,502,010 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 November 2024 |
16,000 |
|
3,000 |
|
720,699 |
|
739,699 |
|
Charge for the year |
36,717 |
|
- |
|
31,307 |
|
68,024 |
|
On disposals |
- |
|
(3,000) |
|
- |
|
(3,000) |
|
At 31 October 2025 |
52,717 |
|
- |
|
752,006 |
|
804,723 |
|
|
|
|
|
|
|
|
|
|
Carrying amount |
|
At 31 October 2025 |
4,475,399 |
|
- |
|
221,888 |
|
4,697,287 |
|
At 31 October 2024 |
4,473,444 |
|
- |
|
187,041 |
|
4,660,485 |
|
|
|
|
|
|
|
|
|
|
|
Land and buildings were revalued on 18 September 2023 by Pinders Professional & Consultancy Services Limited, independent valuers not connected with the company on the basis of market value. The valuation was based on recent market transactions on arm's length terms for similar properties. At 31 October 2025, had the revalued assets been carried at historic cost less accumulated depreciation and accumulated impairment losses, their carrying amount would have been approximately £3,824,724 (2024: £3,823,444). |
|
| 9 |
Investments |
| Investments in |
| subsidiary |
| undertakings |
| £ |
|
Cost |
|
At 1 November 2024 |
4,151 |
|
|
At 31 October 2025 |
4,151 |
|
|
Investments in subsidiaries are carried at cost. |
|
|
Ashgate Care Limited |
|
Registered office at 16 Toll Bar House Business Centre, 1 Derby Road, Ilkeston, Derbyshare, England, DE7 5FH. |
| % |
|
Class of shares: |
Holding |
|
Ordinary |
100 |
|
|
Details of subsidiary was as follows: |
| 31.10.2025 |
28.02.2025 |
| £ |
£ |
|
|
Aggregate capital and reserves |
|
|
|
|
(1,324,804) |
|
(1,322,575) |
|
Results for the year |
|
|
|
|
(2,229) |
|
(267,544) |
|
|
|
|
|
|
|
|
|
|
The company has not prepared consolidated financial statements as it is exempt from the requirement to do so under section 400 of the Companies Act 2006. The company and its subsidiary undertaking are included in the consolidated financial statements of Broadstone Healthcare Limited. |
|
| 10 |
Stocks |
2025 |
|
2024 |
| £ |
£ |
|
|
Consumables and care home supplies |
4,824 |
|
26,500 |
|
|
|
|
|
|
|
|
|
|
| 11 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade debtors |
474,116 |
|
242,355 |
|
Amounts owed by group undertakings |
|
865,751 |
|
- |
|
Other debtors |
102,904 |
|
705,340 |
|
Prepayments and accrued income |
14,636 |
|
39,247 |
|
|
|
|
|
|
1,457,407 |
|
986,942 |
|
|
|
|
|
|
|
|
|
|
| 12 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Bank loans |
362,684 |
|
219,208 |
|
Trade creditors |
223,610 |
|
229,384 |
|
Corporation tax |
62,802 |
|
- |
|
Other taxes and social security costs |
667,627 |
|
895,144 |
|
Other creditors |
35,259 |
|
14,531 |
|
Accruals and deferred income |
433,431 |
|
334,367 |
|
|
|
|
|
|
1,785,413 |
|
1,692,634 |
|
|
|
|
|
|
|
|
|
|
| 13 |
Creditors: amounts falling due after one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Bank loans |
2,708,131 |
|
2,997,980 |
|
|
|
|
|
|
|
|
|
|
The bank loans are secured by a debenture creating fixed and floating charges over the undertaking and assets of the company, including the company’s property and other assets. The amount secured at the year end was £3,070,815, being the total bank loans included within creditors due within one year and after more than one year. |
|
|
The company has also entered into cross-guarantee arrangements in respect of certain bank borrowings of group undertakings. At the year end, the maximum exposure under this guarantee was approximately around £5m. No liability has been recognised as the directors consider that it is not probable that any outflow of economic benefits will be required. |
|
|
Certain borrowings are also supported by a personal guarantee provided by Brian Rosenberg, a director of the company. |
|
| 14 |
Loans |
2025 |
|
2024 |
| £ |
£ |
|
Analysis of maturity of debt: |
|
Within one year or on demand |
362,684 |
|
219,208 |
|
Between one and two years |
362,684 |
|
111,989 |
|
Between two and five years |
2,345,447 |
|
2,885,991 |
|
|
|
|
|
|
3,070,815 |
|
3,217,188 |
|
|
|
|
|
|
|
|
|
| 15 |
Deferred taxation |
2025 |
|
2024 |
| £ |
£ |
|
|
Revaluation of land and buildings |
162,500 |
|
162,500 |
|
Accelerated capital allowances |
33,498 |
|
22,887 |
|
|
|
|
|
|
195,998 |
|
185,387 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2025 |
|
2024 |
| £ |
£ |
|
|
At 1 November as previously stated |
22,887 |
|
11,584 |
|
Prior year adjustment |
162,500 |
|
162,500 |
|
At 1 November as restated |
185,387 |
|
174,084 |
|
Charged to the profit and loss account |
10,611 |
|
11,303 |
|
|
At 31 October |
195,998 |
|
185,387 |
|
|
|
|
|
|
|
|
|
|
|
| 16 |
Share capital |
Nominal |
|
2025 |
|
2025 |
|
2024 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
74,154 |
|
74,154 |
|
74,154 |
|
|
|
|
|
|
|
|
|
|
| 17 |
Share premium |
2025 |
|
2024 |
| £ |
£ |
|
|
At 1 November |
23,997 |
|
23,997 |
|
|
At 31 October |
23,997 |
|
23,997 |
|
|
|
|
|
|
|
|
|
|
| 18 |
Other reserves |
2025 |
|
2024 |
|
Revaluation reserve |
£ |
£ |
|
|
At 1 November as previously stated |
650,000 |
|
650,000 |
|
Prior year adjustment |
(162,500) |
|
(162,500) |
|
At 1 November as restated |
487,500 |
|
487,500 |
|
|
At 31 October |
487,500 |
|
487,500 |
|
|
|
|
|
|
|
|
|
|
| 19 |
Profit and loss account |
2025 |
|
2024 |
| £ |
£ |
|
|
At 1 November |
584,813 |
|
479,430 |
|
Profit for the financial year |
726,235 |
|
105,383 |
|
|
At 31 October |
1,311,048 |
|
584,813 |
|
|
|
|
|
|
|
|
|
|
| 20 |
Presentation currency |
|
|
The financial statements are presented in Sterling. |
|
|
| 21 |
Legal form of entity and country of incorporation |
|
|
Tregwilym Lodge Limited is a private company limited by shares and incorporated in England. |
|
| 22 |
Parent Undertaking |
|
|
The immediate and ultimate parent undertaking is Broadstone Healthcare Limited, a company incorporated in England and Wales. Broadstone Healthcare Limited prepares consolidated financial statements in which the results of Tregwilym Lodge Limited and its subsidiary undertaking are included. |
|
|
Copies of the consolidated financial statements of Broadstone Healthcare Limited may be obtained from its registered office at Room 16 Toll Bar House Business Centre, 1 Derby Road, Ilkeston, Derbyshire, England, DE7 5FH. |
|
| 23 |
Related Party Disclosures |
|
|
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned members of the group. |
|
|
During the year, the company paid management fees of £93,750 (2024: £76,875) to Community Care Systems Limited, a company controlled by Brian Rosenberg, a director of the company. At the year end, £2,548 was outstanding. The transactions were conducted on normal commercial terms. |
|
|
Included within other debtors is an amount of £90,104 (2024: £375) owed by a company in which one of the directors has an interest. The amount is interest free and repayable on demand. |
|
|
Included within other creditors is an amount of £10,000 (2024: £Nil) owed to a company in which one of the directors has an interest. The amount is interest free and payable on demand. |
|
|
Key management personnel comprise the directors of the company. Total compensation paid to key management personnel during the year amounted to £30,000 (2024: £nil). |
|
| 24 |
Prior year adjustment |
|
|
During the year, the directors identified that deferred tax had not previously been recognised in respect of the revaluation surplus on freehold property. In accordance with FRS 102, deferred tax has been recognised on the revaluation surplus and the comparative figures have been restated accordingly. The adjustment has reduced the revaluation reserve and increased deferred tax liabilities by £162,500 at 1 November 2023 and 31 October 2024. There was no impact on profit for the prior year. |
|
| 25 |
Post Balance Sheet Event |
|
|
Subsequent to the period end, the company refinanced its existing borrowings with Metro Bank Plc. The previous borrowing and related interest were repaid in full, the existing security was discharged, and new security was granted to Metro Bank Plc. The amount refinanced was approximately £3.071 million. The refinancing did not result in an adjustment to the liabilities recognised at 31 October 2025, as the transaction completed after the reporting date. |