ACCOUNTS - Final Accounts preparation

An analysis of turnover by class of business is as follows:

As restated

Registered number: 09411468

KENT HOUSE (SELECT) LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

KENT HOUSE (SELECT) LIMITED

COMPANY INFORMATION

Directors	H W Elston (appointed 25 September 2025)
	B G Puddle (appointed 25 September 2025)
	B R Bernard (resigned 12 November 2025)
	S C Bernard (resigned 25 September 2025)
	P M Cooke (resigned 25 September 2025)
	S J McDonald (appointed 25 September 2025, resigned 12 November 2025)


Registered number	09411468


Registered office	Wellington House
	120 Wellington Road
	Dudley
	West Midlands
	DY1 1UB


Independent auditors	James Cowper Kreston Audit
	Chartered Accountants and Statutory Auditor
	2 Communications Road
	Greenham Business Park
	Greenham
	Newbury
	RG19 6AB

KENT HOUSE (SELECT) LIMITED

CONTENTS

	Page
Strategic Report	1
Directors' Report	2 - 3
Independent Auditors' Report	4 - 6
Statement of Comprehensive Income	7
Balance Sheet	8
Statement of Changes in Equity	9
Notes to the Financial Statements	10 - 22

KENT HOUSE (SELECT) LIMITED

STRATEGIC REPORT

FOR THE YEAR ENDED 31 MARCH 2025

Introduction

The directors present the strategic report for the year ended 31 March 2025.

Business review

During the year the Company continued to deliver high quality specialist health care services. The Company has maintained its average occupancy rates leading to a healthy overall financial performance.

Principal risks and uncertainties

The Company is not immune to underlying risks and uncertainty facing all operators in the specialist care sector. The sector is highly regulated and compliance is fundamental. The regulator is the Care Quality Commission and they control the registrations which are required to operate as a care provider. In order to remain compliant, the Company has in place a well-structured management team, appropriately qualified staff providing physical and psychological support, sophisticated care planning systems and ongoing financial commitments to refurbishment and equipment to ensure that it is able to offer the highest quality of safety and comfort to its residents. Concerns persist over the ability of Local Authorities to properly pay for a good quality care service and this can make it difficult to plan effectively from one year to the next.

The Company's policy of employing highly qualified individuals mitigates risk, it provides high levels of training for staff and has formal procedures in place to handle concerns raised in a comprehensive and rapid manner. The banking sector's view of the care industry sector remains variable, but the Company has a healthy level of support. The Company does not have significant credit risk.

The Company is part of a wider group of care providers and the head office for the group is able to provide key support roles at a level that would be difficult if it were a stand alone provider. This assists in the mitigation of principal risks and uncertainties.

Financial key performance indicators

Turnover for the Company was £4,451,249 (2024 as restated: £3,784,112), an increase of 17.6%.
The Company's profit before tax for the year was £1,705,472 (2024 as restated: £1,224,657), an increase of 39.3%.
The Company had net assets of £7,035,460 (2024 as restated: £5,329,988).

Other key performance indicators

The directors believe that the primary key performance indicators of the company are occupancy rates and the percentage of staff and agency costs when compared to the turnover.

The occupancy percentage is defined as the average occupied beds divided by the average available beds for the year. The directors are pleased that continued efforts to drive service quality is evident in its continued high occupancy rates, averaging 88.0% for the year (2024: 94.6%).

Wages and salaries, including agency staff costs, for the year were 45.7% of fees compared to 48.9% in the previous year. The directors are pleased with this result, particularly in light of the upward pressure on salary costs in the sector.

This report was approved by the board and signed on its behalf.

B G Puddle

Director

Date: 14 August 2026

Page 1

KENT HOUSE (SELECT) LIMITED

DIRECTORS' REPORT

FOR THE YEAR ENDED 31 MARCH 2025

The directors present their report and the financial statements for the year ended 31 March 2025.

Directors' responsibilities statement

The directors are responsible for preparing the Strategic Report, the 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 of the profit or loss of the Company for that period.

In preparing these financial statements, the directors are required to:

∙select suitable accounting policies for the Company's financial statements 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 to 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.

Principal activity

The Company's principal activity during the year under review was that of operating a specialist residential care and nursing home.

Results and dividends

The profit for the year, after taxation, amounted to £1,503,932 (2024 - £1,225,161).

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

Directors

The directors who served during the year were:

B R Bernard (resigned 12 November 2025)

S C Bernard (resigned 25 September 2025)

P M Cooke (resigned 25 September 2025)

Future developments

On 25 September 2025, subsequent to the reporting date, the entire issued share capital of the immediate parent company was acquired by Deer Capital Select Specialist Limited. The Company is now part of a growing portfolio with additional home openings in the pipeline.

Page 2

KENT HOUSE (SELECT) LIMITED

DIRECTORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:

∙so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Auditors

The auditor, James Cowper Kreston Audit, replaced Plant & Co Limited as auditor of the company after the year ended 31 March 2025.

The auditors, James Cowper Kreston Audit, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board and signed on its behalf.

B G Puddle

Director

Date: 14 August 2026

Page 3

KENT HOUSE (SELECT) LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF KENT HOUSE (SELECT) LIMITED

Opinion

We have audited the financial statements of Kent House (Select) Limited (the 'Company') for the year ended 31 March 2025, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity 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 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 March 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 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 Auditors' Report thereon. The directors are 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.

Page 4

KENT HOUSE (SELECT) LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF KENT HOUSE (SELECT) LIMITED (CONTINUED)

Opinion 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 set out on page 2, 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.

Page 5

KENT HOUSE (SELECT) LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF KENT HOUSE (SELECT) LIMITED (CONTINUED)

Auditors' 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 Auditors' 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.

Because of 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.

The specific procedures for this engagement that we designed and performed to detect material misstatements in respect of irregularities, including fraud, were as follows:

∙Enquiry of management and those charged with governance around actual and potential litigation and claims;

∙Enquiry of management and those charged with governance to identify any material instances of non-compliance with laws and regulations;

∙Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;

∙Performing audit work to address the risk of irregularities due to management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for evidence of bias.

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 Auditors' Report.

Use of our report

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

Alexander Peal BSc (Hons) FCA DChA (Senior Statutory Auditor)

for and on behalf of

James Cowper Kreston Audit

Chartered Accountants and Statutory Auditor

2 Communications Road

Greenham Business Park

Greenham

Newbury

RG19 6AB

18 August 2026

Page 6

KENT HOUSE (SELECT) LIMITED

STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 MARCH 2025

		As restated
	2025	2024
Note	£	£


Turnover	4	4,451,249	3,784,112
Cost of sales		(2,093,450)	(1,944,250)
Gross profit		2,357,799	1,839,862
Administrative expenses		(572,320)	(558,327)
Operating profit	5	1,785,479	1,281,535
Interest receivable and similar income		183	10,572
Interest payable and similar expenses	9	(80,190)	(67,450)
Profit before tax		1,705,472	1,224,657
Tax on profit	10	(201,540)	504
Profit for the financial year		1,503,932	1,225,161

There was no other comprehensive income for 2025 (2024: £NIL).

The notes on pages 10 to 22 form part of these financial statements.

Page 7

KENT HOUSE (SELECT) LIMITED

REGISTERED NUMBER: 09411468

BALANCE SHEET

AS AT 31 MARCH 2025

		As restated
	2025	2024
Note	£	£

Fixed assets
Tangible assets	11		5,890,164		6,011,576
Current assets
Debtors: amounts falling due within one year	12	8,126,754		6,409,814
Cash at bank and in hand	13	261,677		111,008
		8,388,431		6,520,822
Creditors: amounts falling due within one year	14	(6,567,532)		(6,272,246)
Net current assets			1,820,899		248,576
Total assets less current liabilities			7,711,063		6,260,152
Creditors: amounts falling due after more than one year	15		(877,143)		(930,164)

Net assets			6,833,920		5,329,988

Capital and reserves
Called up share capital	18	100	100
Profit and loss account	19	6,833,820	5,329,888
		6,833,920	5,329,988

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

B G Puddle

Director

Date: 14 August 2026

The notes on pages 10 to 22 form part of these financial statements.

Page 8

KENT HOUSE (SELECT) LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MARCH 2025

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 April 2024 (as previously stated)	100	5,666,121	5,666,221
Prior year adjustment - correction of error (see note 20)	-	(336,233)	(336,233)
At 1 April 2024 (as restated)	100	5,329,888	5,329,988

Profit for the year	-	1,503,932	1,503,932
At 31 March 2025	100	6,833,820	6,833,920

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MARCH 2024

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 April 2023 (as previously stated)	100	4,230,881	4,230,981
Prior year adjustment - correction of error (see note 20)	-	(126,154)	(126,154)
At 1 April 2023 (as restated)	100	4,104,727	4,104,827

Profit for the year (as restated)	-	1,225,161	1,225,161
At 31 March 2024 (as restated)	100	5,329,888	5,329,988

The notes on pages 10 to 22 form part of these financial statements.

Page 9

KENT HOUSE (SELECT) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

The Company is a private company limited by shares (registered number 0941168) and registered in England and Wales. The address of the registered office is Wellington House, 120 Wellington Road, Dudley, West Midlands, UK , DY1 1UB. The principal place of business is Royal Park Care Home, Major Street, Wolverhampton, WV2 2BL.

The Company's principal activity during the year under review was that of operating a specialist residential care and nursing home.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

∙the requirements of Section 7 Statement of Cash Flows;

∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);

∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;

∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Select Health Care Limited as at 31 March 2025 and these financial statements may be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ.

Page 10

KENT HOUSE (SELECT) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.5

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.

2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 11

KENT HOUSE (SELECT) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

				Freehold property	-	2%	Straight line
				Fixtures and fittings	-	25%	Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 12

KENT HOUSE (SELECT) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Deferred tax liabilities are also presented within provisions but are measured in accordance with the accounting policy on taxation.

Increases in provisions are generally charged as an expense to profit or loss.

Page 13

KENT HOUSE (SELECT) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.14

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” 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

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) 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 debtors due with the operating cycle fall into this category of financial instruments.

Basic 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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments 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.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors 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.

Page 14

KENT HOUSE (SELECT) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

3.	Judgments in applying accounting policies 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 for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the period. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Tangible fixed assets (see note 11)

Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. Residual value assessments consider issues such as the remaining life of the asset and projected disposal values.

Turnover

	Fees recievable	4,451,249	3,784,112

All turnover arose within the United Kingdom.

Other operating lease rentals

150,885

150,259

Fees payable to the Company's auditors for the audit of the Company's financial statements

7,950

2,400

Page 15

KENT HOUSE (SELECT) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Wages and salaries	1,835,591	1,686,538
Social security costs	159,547	135,781
Cost of defined contribution scheme	37,051	29,744
	2,032,189	1,852,063

The average monthly number of employees, including the directors, during the year was as follows:

	2025	2024
	No.	No.

Average number of employees	77	74

8.	Interest receivable
		2025	2024
		£	£

Other interest receivable

183

10,572

9.	Interest payable and similar expenses
		2025	2024
		£	£

Bank interest payable

80,190

67,450

Page 16

KENT HOUSE (SELECT) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Corporation tax
Current tax on profits for the year	228,315	1,382
Total current tax	228,315	1,382

Deferred tax
Origination and reversal of timing differences	(26,775)	(1,886)
Total deferred tax	(26,775)	(1,886)


	Tax on profit	201,540	(504)

Profit on ordinary activities before tax

1,705,472

1,224,657

Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%)	426,368	306,164
Effects of:
Expenses not deductible for tax purposes	1,010	-
Capital allowances for year in excess of depreciation	28,838	25,434
Deferred tax charge	(26,775)	(1,886)
Adjustments to tax charge in respect of prior periods	(115,620)	84,059
Group relief	(112,281)	(414,275)
Total tax charge for the year	201,540	(504)

Factors that may affect future tax charges

There are no factors affecting future tax charges.

Page 17

KENT HOUSE (SELECT) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

11.	Tangible fixed assets

	Freehold property	Fixtures and fittings	Total
	£	£	£
Cost or valuation
At 1 April 2024	6,365,570	297,098	6,662,668
Additions	-	29,473	29,473
At 31 March 2025	6,365,570	326,571	6,692,141
Depreciation
At 1 April 2024	406,875	244,217	651,092
Charge for the year	127,311	23,574	150,885
At 31 March 2025	534,186	267,791	801,977
Net book value
At 31 March 2025	5,831,384	58,780	5,890,164
At 31 March 2024	5,958,695	52,881	6,011,576

12.

Debtors

						As restated
					2025	2024
					£	£


Trade debtors	547,064	425,997
Amounts owed by group undertakings	7,538,867	5,972,951
Other debtors	1,926	-
Prepayments and accrued income	5,249	3,993
Deferred taxation	33,648	6,873
	8,126,754	6,409,814

Amounts owed by group undertakings are interest free, unsecured, and repayable on demand.

13.	Cash and cash equivalents
		2025	2024
		£	£

	Cash at bank and in hand	261,677	111,008

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KENT HOUSE (SELECT) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

14.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Bank loans	51,511	73,000
Trade creditors	58,776	88,473
Amounts owed to group undertakings	6,013,104	5,938,133
Corporation tax	217,289	(9,142)
Other taxation and social security	-	603
Other creditors	55,927	6,649
Accruals and deferred income	170,925	174,530
	6,567,532	6,272,246

Amounts owed to group undertakings are interest free, unsecured, and repayable on demand.

The terms of the bank loans are detailed in note 16.

15.	Creditors: Amounts falling due after more than one year
		2025	2024
		£	£

	Bank loans	877,143	930,164

The terms of the bank loans are detailed in note 16.

Bank loans
Amounts falling due within one year	51,511	73,000

Amounts falling due between 1-5 years	877,143	930,164
	928,654	1,003,164

National Westminster Bank Plc holds an unlimited debenture dated 9 March 2016 incorporating fixed and floating charges.

The final instalments for the bank loans fall on 7 May 2026. The interest rate is variable and linked to the bank base rate.

All bank loans were settled in full in November 2025, see note 23 for further information.

Page 19

KENT HOUSE (SELECT) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

17.	Deferred taxation

		2025
		£

	At beginning of year	6,873
	Utilised in year	26,775
	At end of year	33,648

The deferred tax asset is made up as follows:
	2025	2024
	£	£

Accelerated capital allowances

33,648

6,873

18.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

100 (2024 - 100) Ordinary shares of £1.00 each	100	100

Each Ordinary share entitles the holder to one vote per share and entitles the holder to dividends and other distributions.

19.

Reserves

Profit and loss account

The profit and loss account represents the cumulative profit available for distribution to shareholders.

Page 20

KENT HOUSE (SELECT) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

20.	Prior year adjustment

During the year ended 31 March 2025, the directors identified that revenue recognised in the prior year in respect of invoices subsequently credited post year-end and not re-invoiced should not have been recognised.

During the year, the directors identified that certain trade debtors recognised in the prior year were not recoverable at the reporting date and should have been impaired in accordance with the Company’s accounting policy.

The above represent the correction of prior period errors under FRS 102. The errors have been corrected by restating the comparative amounts for the prior period and adjusting opening retained earnings at 1 April 2024.

The impact of the restatements is as follows:

- Decrease in revenue for the year ended 31 March 2024 of £276,078
- Increase in administrative expenses for the year ended 31 March 2024 of £60,155
- Decrease in trade debtors at 31 March 2024 of £462,387
- Decrease in retained earnings at 1 April 2023 of £126,154

The net effect is an decrease in profit after tax of £336,233 and a decrease in retained earnings at 1 April 2024 of £462,387.

21.	Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £37,051 (2024 - £29,744). Contributions totalling £982 (2024 - £2,167) were payable to the fund at the balance sheet date and are included in creditors.

22.	Related party transactions
	The Company is exempt from disclosing related party transactions with other 100% owned members of the Group headed by Select Health Care Limited by virtue of FRS 102 section 33.1A. Amounts due to and from members of the Group are disclosed in note 12 and 14 respectively.

23.	Post balance sheet events

On 25 September 2025, subsequent to the reporting date, the entire issued share capital of the immediate parent company was acquired by Deer Capital Select Specialist Limited.

As part of this acquisition, all external bank loans in the Company were repaid in full and new funding has been provided via a sale and leaseback arrangement.

Page 21

KENT HOUSE (SELECT) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

24.	Controlling party

The immediate parent company at 31 March 2025 is Select Health Care Specialist Limited, a company incorporated in England and Wales.

The ultimate parent company and the smallest and largest group in which the Company's results are consolidated is Select Health Care Limited, a company incorporated in England and Wales. The consolidated accounts of Select Health Care Limited are available from Companies House, Crown Way, Cardiff, CF14 3UZ.

Following the acquisition detailed in note 23, the ultimate parent company and controlling party is now Deer Capital ESG Investments Europe Limited.

Page 22