The director presents their annual report and financial statements for the year ended 31 December 2025.

The principal activity of the company continued to be that of the provision of medical services, in particular independent expert medical evidence, to the insurance industry and legal fraternity, together with the provision of occupational health services to industry in general. The company is incorporated and domiciled in England and Wales.

The results for the year are set out on page 7.

No ordinary dividends were paid. The director does not recommend payment of a final dividend.

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

The industry in which the company operates is expected to change following the introduction of the Official Injury Claims Portal. There has been a reduction in the total number of cases following implementation of the portal, although this has not had a significant negative impact on the performance of the company. There is currently uncertainty on the impact the portal will have on collection profiles, and this has an impact on company’s cash flows. The Directors remain of the opinion that any change in collection profile in the short term will reverse in the long term as the services provided support access to justice for individual claimants.

The company intends to consolidate its position in core markets to successfully manage any uncertainty caused by the reforms discussed, whilst exploring growth opportunities in adjacent markets.

The auditor, Price Bailey LLP, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

After considering the company's forecast for the next 12 months, the director has a reasonable expectation that the company has adequate cash and resources to meet all requirements to continue in operational existence for the foreseeable future. The director has also received confirmation that the parent company will continue to provide support where necessary.  Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.

In the current year, the FRS 102 Periodic Review 2024 was applied by the company for the first time.

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

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

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the director is required to:

• select suitable accounting policies and then apply them consistently;

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

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

We have audited the financial statements of Mobile Doctors Limited (the ‘company’) for the year ended 31 December 2025 which comprise Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and related notes to the financial statements, including significant accounting policies.  The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• give a true and fair view of the state of the company’s affairs as at 31 December 2025, and of its profit for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

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 Auditors' 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 United Kingdom, including the Financial Reporting Council'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 company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The director is responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

• the information given in the Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the Director's Report has been prepared in accordance with applicable legal requirements.

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Director's Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

• adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

• the financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of Director's remuneration specified by law are not made; or

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

As explained more fully in the Director's Responsibilities Statement, the Director is 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 Director determines 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 Director is 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 Director either intends to liquidate the Company or to cease operations, or have no realistic alternative but to do so.

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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We gained an understanding of the legal and regulatory framework applicable to the Company and the industry in which it operates and considered the risk of the Company not complying with the applicable laws and regulations including fraud in particular those that could have a material impact on the financial statements. This included those regulations directly related to the financial statements, including financial reporting, tax legislation and distributable profits. In relation to the industry, this included consideration of the Company’s Medco status. The risks were discussed with the audit team and we remained alert to any indications of non-compliance throughout the audit.

We carried out specific procedures to address the risks identified. These included the following:

• A review of legal fees incurred;

• Reviewing minutes of meetings of those charged with governance;

• Enquiring of management including those responsible for the key regulations;

• Reviewing the key accounting policies and estimates;

• Agreeing the financial statement disclosures to underlying supporting documentation; and

• Reviewing the latest Medco Report with consideration of the policies and procedures in place to ensure the company is compliant with Medco and the response from management in implementing recommendations and guidance highlighted by Medco in the most recent review.

To address the risk of management override of controls, we carried out a review of journal entries and other adjustments for appropriateness. We reviewed systems and procedures to identify potential areas of management override risk. In particular, we carried out a review of journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions to identify large or unusual transactions. We reviewed key authorisation procedures and decision-making processes for any unusual or one-off transactions. We also assessed management bias in relation to the accounting policies adopted and in determining significant accounting estimates.

Due to the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's' Report.

Use of our report

This report is made solely to the Company’s member, 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 member 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 any responsibility to anyone other than the Company and the Company’s members, as a body, for our audit work, for this report, or the opinions we have formed.

The profit and loss account has been prepared on the basis that all operations are continuing operations.

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

Mobile Doctors Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit1-3, Suite A, The Courtyard, Calvin Street, Bolton, BL1 8PB.

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 amounts 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.

The financial statements of the company are consolidated in the financial statements of Kuro Health Limited. These consolidated financial statements are available from its registered office, 4th Floor, Park Gate, 161-163 Preston Road, Brighton, East Sussex, BN1 6AF.

The company has early adopted the Amendments to FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and other FRSs Periodic Review 2024 (FRS 102 periodic review amendments 2024) contained within FRS 102 (2024) which, if not early adopted, are applicable for periods beginning on or after 1 January 2026.

After considering the company's forecast for the next 12 months, the director has a reasonable expectation that the company has adequate cash and resources to meet all requirements to continue in operational existence for the foreseeable future. The director has also received confirmation that the parent company will continue to provide support where necessary.  Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.true

Revenue from the sale of services to customers is recognised by applying the five-step model, which is designed to represent the transfer of promised services to customers. The amount recognised reflects the consideration the company expects to be entitled to in exchange for those services, being discounted to present value.

The company enters into contracts with customers in the medical legal sector to provide individual, specialised medical reports. Each contract contains a single performance obligation to deliver one distinct report.

Because the customer cannot utilise or derive economic benefit from the report until the final, approved document is received, control transfers at a single point in time. Consequently, revenue is recognised at a single point in time—specifically, 100% of the transaction price is recognised upon the completion and transmission of the finalised medical report to the customer.

Requests for payments are issued at the point the medical report is delivered to the customer and are recorded as turnover. At the balance sheet date, the company accrues for turnover in respect of services performed but un-invoiced, accrued income is included within other debtors.

Any associated expected costs of services provided are accrued and included in other creditors. At the point of the invoice the company provides for likely credit notes.

Revenue for each contract is recognised using an output method based on final report delivery. Progress toward complete satisfaction of the performance obligation is measured directly by the completion and transmission of the finalised medical report to the client.

This method provides a faithful depiction of the transfer of services because the customer cannot utilize or derive economic benefit from the report until the final, approved document is delivered. Consequently, 100% of the transaction price allocated to the report is recognised as revenue at the point of final delivery.

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation 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:

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:

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.

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible 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.

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

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 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, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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

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

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

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

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

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, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments 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. Amounts 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.

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

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

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

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.

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account 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 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.

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 profit and loss account, 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.

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 is 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.

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.

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund. Payments to the defined contribution scheme are charged as an expense as they fall due.

In the current year, the FRS 102 Periodic Review 2024 was applied by the company for the first time and affects the financial statements as follows.

The company has applied the FRS 102 Periodic Review 2024 amendments to Section 23 Revenue for the first time using the fully retrospective approach and has therefore restated the comparative financial information with effect from the beginning of the preceding accounting period.

The company’s revised accounting policies for revenue are set out in note 1 and the adjustment for each current period financial statement line item affected by the application of the Periodic Review 2024 is set out below. Retrospective adjustments for the application of the Periodic Review 2024 are set out in note 21.

The company has taken advantage of the following practical expedients permitted when applying the Periodic Review 2024:

• For completed contracts that have variable consideration, the transaction price used is that applying at the date the contract was completed.

• Contracts that were modified before the date of initial application have not been retrospectively restated for the contract modifications. Instead, the aggregate effect of the modifications has been applied when identifying the satisfied and unsatisfied performance obligations, determining the transaction price and allocating the transaction price to the satisfied and unsatisfied performance obligations.

• Completed contracts have not been restated if they begin and end within the same annual reporting period or had been completed at the beginning of the earliest period presented.

• For prior periods presented, the company has not provided a quantitative or qualitative explanation of the significance of unsatisfied performance obligations and when they are expected to be satisfied.

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

Revenue from services is recognised in accordance with the policy set out at 1.3. While cases typically complete within two years, there are instances where cases are unsuccessful, and fees are not recoverable. As a consequence, significant judgment is required to account for potential unsuccessful cases.

A prudent provision for credit notes is made, to estimate the potential impact of case profiles and the respective incomes. The provision is calculated based on extensive historical experience, up-to-date information on current market trends, utilising industry knowledge, and other relevant factors. Any such assumptions are by their nature subjective, and if actual outcomes differ from these assumptions, it could give rise to a materially different financial outcome.

The provision is calculated as a percentage of invoiced revenue in a calendar year. Therefore, should the provision be over or understated by 1%, the impact in the financial statements based on 2025 turnover would be £78,774 (2024: £69,852).  Given the long credit offer to customers (see KPIs), the percentages applied in prior years are reviewed annually, and estimates are adjusted accordingly in line with actual trading performance until all invoices raised have been collected. As some cases settle over a longer period, the impact of a 1% change in provision could be compounded by the number of years taken for cases to settle, meaning the cumulative impact of changes in underlying trends on this provision could be significant over time.

Therefore, the financial results of the company are sensitive to movements in this provision if underlying trends change. However, the senior management team believes they have adequate and robust controls and key performance indicators (KPIs) in place to continually monitor and assess the suitability of the provision, and that it is fairly stated in the financial statements based on all available evidence at the year-end. The directors are confident that the credit note provision reflects a reasonable and prudent estimate given the inherent uncertainty.

Management exercises judgement in determining whether contracts with customers include a significant financing component under FRS 102 Section 23, based on the timing between transfer of services, payment and the commercial terms of the arrangement.

Future base rate changes could affect the net present value of revenue and may potentially have an impact on the company.

From re-running the model used to discount turnover to present value, with a percentage change of 1% or 2%, the interest element would be immaterial.

The discount rate applied for 2025 is 6.5% (2024: 7.5%).

Changes in assumptions could have a material impact on trade receivables and revenue recognition.

The whole of the turnover is attributable to the principal activity of the company, and wholly undertaken in the United Kingdom.

Revenue recognised from contracts with customers is shown below as Turnover - gross less Present value adjustment: £7,597,783 (2024 restated: £6,640,862).

Turnover is calculated as below:

To comply with FRS102 (Section 23) Periodic Review 2024 amendments

Where payment for goods or services is deferred beyond normal business credit terms (typically more than 12 months), the arrangement is considered to include a significant financing component.

In such cases, revenue is recognised at the present value of future cash flows, discounted using an appropriate market rate of interest.

The difference between the nominal value of the consideration and its present value (the financing element) has been recognised within turnover. It has been recognised as a present value adjustment over the period of deferral using the effective interest method.

Trade receivables are initially recognised at their present value. The discount is subsequently unwound, increasing the carrying value of the receivable, with the unwinding recognised in the Statement of Profit and Loss as a unwinding present value adjustment within turnover.

There is an assumption regarding the timing of the payments based on historic performance, amounts expected within the first 12 months post period end, these amount's should not be discounted as there is deemed to be no significant financing component.

Discounting of the receivables should begin after 12 months.

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

Licences held are not required to be amortised.

The industry in which the company operates offers customers credit terms which reflect the time cases can potentially take to settle, which can exceed 12 months.  These credit terms are normal for companies operating in this sector.

The classification of the amounts falling due after more than one year is based on management's best estimates of the expected settlement dates.

Included within taxation and social security are deferred VAT amounts of £900,776 (2024 restated: £838,172) being liable in more than one year, calculated on management’s best estimates.

The group has access to an invoice discount facility of £20,000,000 of which £4,000,000 is assigned to the company.

As at 31 December 2025 the outstanding balance due to RBS Invoice Finance Limited in respect of the invoice discount facility was £3,723,458 (2024:£2,997,727). This balance is included in creditors due within one year.

As at the 31 December 2025 the group was utilising £14,525,799 (2024: £14,426,614) of the £20,000,000 credit facility, see note 22.

The facilities are secured by a fixed and floating charges over current and future assets of the company

The provision for dilapidations are in respect of rented properties by the company and will be utilised on exiting the premises at the end of the lease.

The following are the major deferred tax liabilities and assets recognised by the company:

At the year end, the entity had total financial commitments of £36,709 (2024: £17,287) over a period of 15 months, relating to the licence to occupy office space.

The cross guarantee is in support of the finance facilities provided to the Kuro Health group of entities. The cross guarantee includes the following group companies: Premier Medical Group Limited, Rehab-Link Limited and Mobile Doctors Limited. The balance owed to RBS Invoice Finance Ltd at 31 December 2025 was £14,525,799 (31 December 2024: £14,426,614).

The company received amounts from Folkington Finance Limited totalling £23,371 (2024: £nil) a company associated to various directors.

No details are included for the subsidiaries that are 100% owned as the exemption for such companies is being claimed.

The ultimate parent company is Kuro Health Limited, a company incorporated in England and Wales. The financial statements for this company can be found at their registered office at 4th floor, Park Gate, 161-163 Preston Road, Brighton, BN1 6AF.