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COMPANY REGISTRATION NUMBER: 04685922

Festival Care Homes Ltd

Financial Statements

For the year ended

31 December 2025

Festival Care Homes Ltd

Financial Statements

Year ended 31 December 2025

Contents | Page

Officers and professional advisers | 1

Strategic report | 2

Directors' report | 4

Independent auditor's report to the member | 6

Statement of income and retained earnings | 10

Statement of financial position | 11

Notes to the financial statements | 12

Festival Care Homes Ltd

Officers and Professional Advisers

The board of directors | A Taylor
| M Cloonan
| B Raj (Appointed 1 June 2025)

Registered office | Abbey Healthcare
| Sutherland House
| 70-78 West Hendon Broadway
| London
| NW9 7BT

Auditor | Streets Audit LLP
| Chartered accountants & statutory auditor
| Enterprise House
| 38 Tyndall Court
| Commerce Road
| Lynch Wood
| Peterborough
| Cambridgeshire
| PE2 6LR

Festival Care Homes Ltd

Strategic Report

Year ended 31 December 2025
The directors present the strategic report and the financial statements for the year ended 31 December 2025. Business review The company is a non trading intermediate holding company of two care homes and a subsidiary company of Abbey Healthcare Festival Limited. These financial statements report the results for the company only. The company has net liabilities at the year end date. Principal risks and uncertainties The principal risks and uncertainties relating to the trading subsidiaries are monitored by management on a weekly and monthly basis. The primary concern of the management is the quality of care. There are dedicated regional managers and Operational Directors responsible for supporting the Home in provision of high quality care services. The major financial risk to the company is the increase in its cost base, primarily relating to the National Living Wage. The group is exposed to credit risk with its customers, albeit major customers are public sector, and therefore with limited credit risk. Pricing risk is limited to the risk associated with negotiating annual price increases. Liquidity and cashflow risk could arise in the event of a downturn in trading. However, in this event, sister companies in the wider group can provide liquidity if required. The company is exposed to finance risk due to its exposure to third party lenders and borrowings in the Company. Staffing remains a key risk as there is a nationwide shortage of nurses and care staff. Cost inflation also remains a risk for the business Financial and other key performance indicators The key financial and operational performance indicators of the subsidiaries are monitored by management and include regulatory reviews, internal quality reviews, occupancy ratios, average weekly fees and cost to revenue ratios. Future developments The directors continue to monitor its key performance metrics whilst continually striving to improve care quality of the subsidiaries.
This report was approved by the board of directors on 26 June 2026 and signed on behalf of the board by:

A Taylor
Director

Registered office:
Abbey Healthcare
Sutherland House
70-78 West Hendon Broadway
London
NW9 7BT

Festival Care Homes Ltd

Directors' Report

Year ended 31 December 2025
The directors present their report and the financial statements of the company for the year ended 31 December 2025 .
Directors
The directors who served the company during the year were as follows:

A Taylor |
M Cloonan |
B Raj | (Appointed 1 June 2025)

Dividends
The directors do not recommend the payment of a dividend.
Disclosure of information in the strategic report
The company has chosen to include several items in the strategic report which would otherwise be required to be disclosed in the directors report. These include information on the exposure to financial risk, price risk, credit risk, liquidity risk and cash flow risk and an indication of the likely future developments in the business of the company.
Directors' responsibilities statement
The directors are responsible for preparing the strategic report, directors' report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: - select suitable accounting policies and then apply them consistently; - make judgments and accounting estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the 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. They are 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. Auditor
Each of the persons who is a director at the date of approval of this report confirms that:
- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.
This report was approved by the board of directors on 26 June 2026 and signed on behalf of the board by:

A Taylor
Director

Registered office:
Abbey Healthcare
Sutherland House
70-78 West Hendon Broadway
London
NW9 7BT

Festival Care Homes Ltd

Independent Auditor's Report to the Member of Festival Care Homes Ltd

Year ended 31 December 2025
Opinion
We have audited the financial statements of Festival Care Homes Ltd (the 'company') for the year ended 31 December 2025 which comprise the statement of income and retained earnings, statement of financial position and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 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 result for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor'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 opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' 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 directors 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 directors are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. 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 strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of 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 strategic report or the directors' 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 directors' remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit.
Responsibilities of directors
As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 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: Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows: - the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; - we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the company and sector in which it operates; - we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006 and taxation legislation; - we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and - identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: - making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and - considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. To address the risk of fraud through management bias and override of controls, we: - performed analytical procedures to identify any unusual or unexpected relationships; - tested journal entries to identify unusual transactions; - assessed whether judgements and assumptions made in determining the accounting estimates set out in Note 3 were indicative of potential bias; and - investigated the rationale behind significant or unusual transactions. In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: - agreeing financial statement disclosures to underlying supporting documentation; - reading the minutes of meetings of those charged with governance; - inquiring of management as to actual and potential litigation and claims; and - reviewing correspondence with HMRC, relevant regulators and the company's legal advisors. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to inquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. 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 responsibility to anyone other than the company and the company's member as a body, for our audit work, for this report, or for the opinions we have formed.

Jonathan Day
(Senior Statutory Auditor)

For and on behalf of
Streets Audit LLP
Chartered accountants & statutory auditor
Enterprise House
38 Tyndall Court
Commerce Road
Lynch Wood
Peterborough
Cambridgeshire
PE2 6LR

27 June 2026

Festival Care Homes Ltd

Statement of Income and Retained Earnings

Year ended 31 December 2025

| 2025 | 2024
Note | £ | £

Administrative expenses | – | 11
| ---- | ----
Operating loss | – | ( 11)

| ---- | ----
Loss before taxation | – | ( 11)

Tax on loss | 4 | – | –
| ---- | ----
Loss for the financial year and total comprehensive income | – | ( 11)
| ---- | ----

Retained losses at the start of the year | ( 535,994) | ( 535,983)
| --------- | ---------
Retained losses at the end of the year | ( 535,994) | ( 535,994)
| --------- | ---------

All the activities of the company are from continuing operations.

Festival Care Homes Ltd

Statement of Financial Position

31 December 2025

| 2025 | 2024
Note | £ | £

Fixed assets

Investments | 6 | 5,082,595 | 5,082,595

Creditors: amounts falling due within one year | 7 | 5,618,489 | 5,618,489
| ------------ | ------------
Net current liabilities | 5,618,489 | 5,618,489
| ------------ | ------------
Total assets less current liabilities | ( 535,894) | ( 535,894)
| --------- | ---------

Capital and reserves

Called up share capital | 8 | 100 | 100
Profit and loss account | ( 535,994) | ( 535,994)
| --------- | ---------
Shareholder deficit | ( 535,894) | ( 535,894)
| --------- | ---------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the medium companies regime.
These financial statements were approved by the board of directors and authorised for issue on 26 June 2026 , and are signed on behalf of the board by:

A Taylor
Director

Company registration number: 04685922

Festival Care Homes Ltd

Notes to the Financial Statements

Year ended 31 December 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Abbey Healthcare, Sutherland House, 70-78 West Hendon Broadway, London, NW9 7BT.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. Going concern The directors have prepared the financial statements on a going concern basis. The company and group has sufficient resources to meet liabilities as they fall due for payment for a period of at lease 12 months from the date the financial statements are approved. Disclosure exemptions The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of Abbey Healthcare (Festival) Limited which can be obtained from Companies House. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) Disclosures in respect of each class of share capital have not been presented. (b) No cash flow statement has been presented for the company. (c) Disclosures in respect of financial instruments have not been presented. (d) Disclosures in respect of share-based payments have not been presented. (e) No disclosure has been given for the aggregate remuneration of key management personnel. Consolidation The entity has taken advantage of the exemption from preparing consolidated financial statements contained in Section 400 of the Companies Act 2006 on the basis that it is a subsidiary undertaking and its immediate parent undertaking is established under the law of the UK. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. Significant judgements and key sources of estimation uncertainty 1) Value of investments Fixed asset investments in subsidiary companies are initially recorded at cost and subsequently at cost less any accumulate impairment losses. Investments Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Impairment of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
The company holds basic financial instruments as defined in FRS102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.
4. Tax on loss
Reconciliation of tax income
The tax assessed on the loss on ordinary activities for the year is the same as (2024: lower than) the standard rate of corporation tax in the UK of 25 % (2024: 25 %).

| 2025 | 2024
| £ | £
Loss on ordinary activities before taxation | – | ( 11)
| ---- | ----
Loss on ordinary activities by rate of tax | – | 3
Effect of revenue exempt from tax | – | ( 3)
| ---- | ----
Tax on loss | – | –
| ---- | ----

5. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2024: 2).
6. Investments

| Shares in group undertakings
| £
Cost |
At 1 January 2025 and 31 December 2025 | 5,082,595
| ------------
Impairment |
At 1 January 2025 and 31 December 2025 | –
| ------------

Carrying amount |
At 31 December 2025 | 5,082,595
| ------------
At 31 December 2024 | 5,082,595
| ------------

Subsidiaries, associates and other investments

| Class of share | Percentage of shares held
Subsidiary undertakings |  |
Applecroft Care Home Limited | Ordinary | 100
Barleycroft Care Home Limited | Ordinary | 100

7. Creditors: amounts falling due within one year

| 2025 | 2024
| £ | £
Amounts owed to group undertakings | 5,618,489 | 5,618,489
| ------------ | ------------

8. Called up share capital
Issued, called up and fully paid

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares of £ 1 each | 100 | 100 | 100 | 100
| ---- | ---- | ---- | ----

9. Controlling party
The company was under the control of the Trustees of the Prabhdyal Sodhi Overseas Settlement throughout the year, an entity based in Gibraltar. The immediate parent company is Abbey Healthcare (Festival) Limited, a company incorporated in England. The ultimate parent company is Lansbury Limited, a company incorporated in Gibraltar.