Company Registration No. 02350378 (England and Wales)
Amercare Limited
Financial statements
for the year ended 31 March 2026
Pages for filing with the registrar
Amercare Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 10
Amercare Limited
Statement of financial position
As at 31 March 2026
1
2026
2025
Notes
£
£
£
£
Fixed assets
Tangible assets
4
201,675
128,526
Current assets
Stocks
1,251,695
655,665
Debtors
5
4,790,877
1,132,040
Cash at bank and in hand
837,569
3,267,977
6,880,141
5,055,682
Creditors: amounts falling due within one year
6
(2,799,352)
(1,676,386)
Net current assets
4,080,789
3,379,296
Total assets less current liabilities
4,282,464
3,507,822
Creditors: amounts falling due after more than one year
7
-
0
(28,117)
Provisions for liabilities
(129,400)
(98,258)
Net assets
4,153,064
3,381,447
Capital and reserves
Called up share capital
1,072
1,072
Profit and loss reserves
4,151,992
3,380,375
Total equity
4,153,064
3,381,447

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 29 July 2026 and are signed on its behalf by:
Alex Hughes
Director
Company Registration No. 02350378
Amercare Limited
Notes to the financial statements
For the year ended 31 March 2026
2
1
Accounting policies
Company information

Amercare Limited is a private company limited by shares incorporated in England and Wales. The registered office is Units B & C, Broadlink, Middleton, Manchester, England, M24 1UB.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This company 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 company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. T he company has therefore taken advantage of e xemptions from the following disclosure requirements:

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense;

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

The financial statements of the company are consolidated in the financial statements of both Breeze Acquisitions Limited and Breeze Strategic Services Limited. These consolidated financial statements are available from their registered office s, Units B & C, Middleton, Manchester, M24 1UB. These are the smallest and largest groups respectively for which consolidated accounts are prepared in which the company's results are included in.

Amercare Limited
Notes to the financial statements (continued)
For the year ended 31 March 2026
1
Accounting policies (continued)
3
1.2
Going concern

The directors have prepared the financial statements on a going concern basis.

In making this assessment, the directors have considered the Company's financial position and cash flow requirements, together with its dependence on the wider Group. The assessment included consideration of the Group's latest forecasts, available funding arrangements and the financial support available to the Company from its parent undertaking for a period of at least twelve months from the date of approval of these financial statements.

The Group's external financing arrangements are currently provided through facilities with Apera, which are available until 5 August 2027 and therefore extend beyond the period covered by the directors' going concern assessment. Whilst the Company is not itself a party to these borrowing arrangements, the directors have considered the availability of these facilities, together with the Group's ability to access funding and the continued financial support available from the parent undertaking.

The directors note that the Group expects to refinance its borrowing arrangements in advance of their maturity. Although the refinancing process has not yet formally commenced the directors have considered the rationale for the timing of the proposed refinancing and the period remaining before the expiry of the existing facilities.

The directors are satisfied that the Group has adequate resources to continue in operational existence for the foreseeable future and that the parent undertaking will continue to provide financial support to the Company as required. Accordingly, the directors consider it appropriate to prepare the financial statements on the going concern basis.

1.3
Revenue

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover from the sale of goods is recognised on a percentage of completion method in line with the requirements for construction contracts.

Service turnover is recognised as those services are provided to customers.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

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:

Plant and machinery
Over 5 years
Motor vehicles
25% reducing balance

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 credited or charged to profit or loss.

Amercare Limited
Notes to the financial statements (continued)
For the year ended 31 March 2026
1
Accounting policies (continued)
4
1.5
Impairment of fixed assets

At each reporting period end date, the company 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 company 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.

1.6
Stocks

Stocks are stated at the lower of average unit cost and estimated selling price less costs to sell, which is equivalent to net realisable value.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

1.8
Financial instruments

The company 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 company's statement of financial position 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.

Amercare Limited
Notes to the financial statements (continued)
For the year ended 31 March 2026
1
Accounting policies (continued)
5
Basic financial assets

Basic financial assets, which include debtors, 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.

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 company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies, 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.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

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

Current tax

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

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

Amercare Limited
Notes to the financial statements (continued)
For the year ended 31 March 2026
1
Accounting policies (continued)
6

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
Provisions

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision i s measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

1.12
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 company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13
Retirement benefits

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

1.14
Leases
As lessee

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 s asset are consumed.

Amercare Limited
Notes to the financial statements (continued)
For the year ended 31 March 2026
7
2
Critical accounting judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors 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.

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.

Percentage completion of contracts at the year-end

Turnover is recognised on sales of goods on a percentage of completion method (as required for construction contracts under FRS 102). Sales invoices are normally raised in arrears (and as such accrued income is recognised) but are sometimes be raised in advance of completing the project (and deferred income is recognised). Accrued income totalled £654,594 (2025: £74,789) at the year-end; deferred income totalled £1,202,567 (2025: £811,785).

Where a project straddles a month end an estimate of the stage of completion is made by the production manager and the finance team make a provision for accrued income. Where a contract is partially complete at the year-end, the percentage completion is estimated based on stock used on the contract and labour costs compared to the overall anticipated costs of the contract.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2026
2025
Number
Number
Total
23
17
Amercare Limited
Notes to the financial statements (continued)
For the year ended 31 March 2026
8
4
Tangible fixed assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost
At 1 April 2025
210,703
167,477
378,180
Additions
84,109
49,548
133,657
Disposals
-
0
(23,054)
(23,054)
At 31 March 2026
294,812
193,971
488,783
Depreciation and impairment
At 1 April 2025
167,859
81,795
249,654
Depreciation charged in the year
20,694
27,075
47,769
Eliminated in respect of disposals
-
0
(10,315)
(10,315)
At 31 March 2026
188,553
98,555
287,108
Carrying amount
At 31 March 2026
106,259
95,416
201,675
At 31 March 2025
42,844
85,682
128,526
5
Debtors
2026
2025
Amounts falling due within one year:
£
£
Trade debtors
1,949,883
974,257
Amounts owed by group undertakings
2,083,559
-
0
Other debtors
757,435
157,783
4,790,877
1,132,040
6
Creditors: amounts falling due within one year
2026
2025
£
£
Trade creditors
672,492
323,652
Amounts owed to group undertakings
-
0
70,079
Taxation and social security
189,383
162,146
Other creditors
1,937,477
1,120,509
2,799,352
1,676,386

The APERA loan in B reeze Acquisitions Limited is secured by fixed and floating charges over the assets and undertakings of the Group. The bank loan is repayable in full on 5 August 2027. Annual interest is charged on a quarterly basis at the Sterling Overnight Index Average ('SONIA') plus a variable margin.

Amercare Limited
Notes to the financial statements (continued)
For the year ended 31 March 2026
9
7
Creditors: amounts falling due after more than one year
2026
2025
£
£
Other creditors
-
0
28,117
8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is qualified and includes the following:

Qualified opinion on financial statements

In our opinion, except for the effects of the matter described in the Basis for Qualified Opinion section, the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 March 2026 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.

Basis for qualified opinion

We attended the physical stock count as at 31 March 2024 and identified differences between the quantities counted and those included in the final stock valuation report. While the individual differences identified were not material, when extrapolated across the stock population they indicated a potential overstatement of stock.

We were unable to obtain sufficient appropriate audit evidence, through alternative audit procedures, to satisfy ourselves as to the existence and valuation of stock amounting to £213,969 held at 31 March 2024. Accordingly, we were unable to determine whether any adjustment to this amount was necessary, or whether there was any consequential effect on cost of sales for the year ended 31 March 2025. If an adjustment to stock at 31 March 2024 had been required, consequential amendments would also have been necessary to the Directors' Report.

This matter relates to stock held at 31 March 2024 and affects the comparability of the current year's financial statements. Accordingly, our opinion on the current year's financial statements is modified in respect of that matter.

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 company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We

believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified

opinion.

Senior Statutory Auditor:
Diane Petit-Laurent FCA
Statutory Auditors:
Saffery LLP
Date of audit report:
29 July 2026
Amercare Limited
Notes to the financial statements (continued)
For the year ended 31 March 2026
10
9
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2026
2025
£
£
Total commitments
278,304
356,517
10
Ultimate controlling party

The company's immediate parent company is Breeze Acquisitions Limited whose registered office address is Units B & C Broadlink, Middleton, Manchester, England, M24 1UB. Its ultimate parent company is Breeze Strategic Services Limited whose registered office address is Units B & C Broadlink, Middleton, Manchester, England, M24 1UB.

The financial statements of the company are consolidated in the financial statements of both Breeze Acquisitions Limited and Breeze Strategic Services Limited and can be found at the addresses outlined above. These are the smallest and largest groups respectively for which consolidated accounts are prepared in which the company's results are included in.

The ultimate controlling party is Breeze Investment Partners LLP.

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