Company registration number 02211479 (England and Wales)
EASTGATE CARE LTD
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
EASTGATE CARE LTD
COMPANY INFORMATION
Director
Mr J W Day
Company number
02211479
Registered office
Cubo
Standard Court
Park Row
Nottingham
NG1 6GN
Auditor
Xeinadin Audit Limited t/a Xeinadin Audit
Cabourn House
Station Street
Bingham
Nottinghamshire
NG13 8AQ
EASTGATE CARE LTD
CONTENTS
Page
Strategic report
1
Director's report
2 - 3
Director's responsibilities statement
4
Independent auditor's report
5 - 7
Income statement
8
Statement of comprehensive income
9
Statement of financial position
10
Statement of changes in equity
11
Notes to the financial statements
12 - 24
EASTGATE CARE LTD
STRATEGIC REPORT
FOR THE PERIOD ENDED 31 MARCH 2025
- 1 -

The director presents the strategic report for the period ended 31 March 2025.

Review of the business

The company's primary activity was the provision of residential nursing care for the elderly; there was also provision for those individuals who require specialist higher acuity needs. The company had four operational homes located in the Nottinghamshire and Derbyshire area.

In February 2024, the company completed the sale of all the care homes.

Principal risks and uncertainties

The director, Mr J Day, had in excess of 25 years’ experience in the care home industry, and was well placed to identify changes in the business climate. The director and senior management team had established processes for identifying business risks, evaluating controls and establishing and executing actions plans.

Development and performance

The key performance measures that the director and management team used to assess the company's progress against its objectives were the quality of care, health and wellbeing of our residents , occupancy rates, fee levels , staff ratios and staff costs.

These factors were one of the factors which assisted in the sale of the homes.

Key performance indicators

Turnover for the period to the date of sale was £3,030,940 (2023 - £7,012,713 )

Gross profit margins fell slightly to 21% compared to 23% in 2023. This was largely due to the fact that the company was required to engage more agency staff to ensure it complied with the relevant CQC guidelines on staffing levels.

On behalf of the board

Mr J W Day
Director
23 July 2026
EASTGATE CARE LTD
DIRECTOR'S REPORT
FOR THE PERIOD ENDED 31 MARCH 2025
- 2 -

The director presents his annual report and financial statements for the period ended 31 March 2025.

Principal activities

The principal activity of the company was the provision of residential nursing care for the elderly; there was also provision for those individuals who require specialist higher acuity care needs. There were 4 homes in operation, all located in the Nottinghamshire and Derbyshire area.

Results and dividends

The results for the period are set out on page 8.

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

Director

The director who held office during the period and up to the date of signature of the financial statements was as follows:

Mr J W Day
Financial instruments

The company managed its cash and borrowing requirements in order to maximise interest income and minimise interest expense, whilst ensuring the company had sufficient liquid resources to meet the operating needs of the business. The company was exposed to changes in the interest rate risk on its bank borrowings whilst they were in existence, but they were all paid off on the sale of the homes.

Strict credit control procedures were in place for all residents whose fees were paid by regional Councils ,and other customers who paid on credit terms. All debtors were monitored on an ongoing basis and provision was made for doubtful debts where necessary.

Auditor

The auditor, Xeinadin Audit Limited t/a Xeinadin Audit, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement of disclosure to auditor

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.

Going concern

The company ceased its trading activities in February 2024 with the sale of all the care homes. Accordingly, the directors have considered the ongoing status of the company and prepared these accounts on a basis other than that of going concern. This is detailed further in the accounting policy in Note 1.

Medium-sized companies exemption

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

EASTGATE CARE LTD
DIRECTOR'S REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
- 3 -
On behalf of the board
Mr J W Day
Director
23 July 2026
EASTGATE CARE LTD
DIRECTOR'S RESPONSIBILITIES STATEMENT
FOR THE PERIOD ENDED 31 MARCH 2025
- 4 -

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.

EASTGATE CARE LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF EASTGATE CARE LTD
- 5 -
Disclaimer of opinion on financial statements

We were engaged to audit the financial statements of Eastgate Care Ltd (the 'company') for the period ended 31 March 2025 which comprise the income statement, the statement of comprehensive income, the statement of financial position, the statement of changes in equity and 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).

We do not express an opinion on the accompanying financial statements of the company. Because of the significance of the matter described in the basis for disclaimer of opinion section of our report, we have not been able to obtain sufficient appropriate audit evidence to provide a basis for an audit opinion on these financial statements.

Basis for disclaimer of opinion

In the year ended 30 September 2021, Eastgate Care Group Limited registered and was approved to form a VAT group alongside subsidiary companies Eastgate Care Limited and Atlantic Midland Securities Limited. A backdated VAT claim was prepared to bring the VAT affairs up to date as of 31 July 2021. We have been unable to corroborate these calculations. Furthermore, we have been unable to obtain sufficient and appropriate evidence concerning the VAT position and adjustments required to these financial statements for either the current or comparative year. As a result, we do not express an opinion on the financial statements of the company.

In addition to the above, as the company ceased all trading activities in February 2024 through sale of the care homes. not all records we requested as part of the audit testing were available. As such, we have a limitation of scope on being able to obtain sufficient appropriate audit evidence.

Emphasis of matter

We draw attention to Note 1 in the financial statements which explains that the company ceased trading in February 2024 due to the sale of all the care homes and therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly, the financial statements have been prepared on a basis other than going concern as described in Note 1. Our opinion is not modified in this respect of this matter.

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

Based on the significance of the matter described in the basis for disclaimer of opinion section of our report, we have been unable to form an opinion, whether based on the work undertaken in the course of our audit:

- the information given in the strategic report and the director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the director's report have been prepared in accordance with the applicable legal requirements.

EASTGATE CARE LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF EASTGATE CARE LTD (CONTINUED)
- 6 -
Matters on which we are required to report by exception

Notwithstanding our disclaimer of opinion on the financial statements of the group, i n the light of the knowledge and understanding of the company and its environment obtained in the course of the audit performed subject to the pervasive limitation above, we have not identifie d material misstatements in the strategic report and the director's r eport.

Arising from the limitation of our work referred to above:

- we have not received all the information and explanations that we considered necessary for the purpose of our audit; and

- we were unable to determine whether adequate accounting records have been kept, or returns adequate for our audit have not been received from branches not visited by us.

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

- 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

Responsibilities of director

As explained more fully in the director's r esponsibilities s tatement, 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 has 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.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

We obtained an understanding of the legal and regulatory framework applicable to the Company in the sector in which they operate.

We obtained an understanding of how the Company is complying with those legal and regulatory frameworks by making inquiries to management. We corroborated our inquiries through review of the legal and professional expenditure incurred as well as available information from third parties.

EASTGATE CARE LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF EASTGATE CARE LTD (CONTINUED)
- 7 -

We assessed the susceptibility of the Company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team include.:

- Identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud.

- Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influences over the financial reporting process;

- Challenging assumptions and judgements made by management in accounting estimates;

- Identifying and testing journal entries, in particular any that appear unusual;

- Review most recent inspection report by regulatory bodies (such as CQC) and assess the impact;

- Enquiry of management and entity staff to identify any instances of non-compliance with laws and regulations, including any actual or potential litigation and claims.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://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 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 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 members as a body, for our audit work, for this report, or for the opinions we have formed.

Jordan Cain ACA
Senior Statutory Auditor
For and on behalf of Xeinadin Audit Limited t/a Xeinadin Audit
7 August 2026
Chartered Accountants
Statutory Auditor
Cabourn House
Station Street
Bingham
Nottinghamshire
NG13 8AQ
EASTGATE CARE LTD
INCOME STATEMENT
FOR THE PERIOD ENDED 31 MARCH 2025
- 8 -
Period
Year
ended
ended
31 March
30 September
2025
2023
Notes
£
£
Turnover
3
3,021,743
7,012,713
Cost of sales
(2,392,818)
(5,388,574)
Gross profit
628,925
1,624,139
Administrative expenses
(1,161,858)
(1,826,963)
Other operating income
9,197
500
Operating loss
4
(523,736)
(202,324)
Interest receivable and similar income
7
72,145
15,927
Interest payable and similar expenses
8
(552,775)
(299,723)
Loss before taxation
(1,004,366)
(486,120)
Tax on loss
9
(309,022)
354,717
Loss for the financial period
(1,313,388)
(131,403)
EASTGATE CARE LTD
STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIOD ENDED 31 MARCH 2025
- 9 -
Period
Year
ended
ended
31 March
30 September
2025
2023
£
£
Loss for the period
(1,313,388)
(131,403)
Other comprehensive income
Revaluation of tangible fixed assets
-
0
(779,632)
Tax relating to other comprehensive income
-
0
144,908
Total other comprehensive income for the period
-
0
(634,724)
Total comprehensive income for the period
(1,313,388)
(766,127)
EASTGATE CARE LTD
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2025
31 March 2025
- 10 -
31 March 2025
30 September 2023
Notes
£
£
£
£
Fixed assets
Tangible assets
11
328
11,004,544
Current assets
Stocks
14
-
18,000
Debtors
12
3,547,714
1,518,599
Cash at bank and in hand
46,148
247
3,593,862
1,536,846
Creditors: amounts falling due within one year
13
(4,135,503)
(11,495,861)
Net current liabilities
(541,641)
(9,959,015)
Total assets less current liabilities
(541,313)
1,045,529
Provisions for liabilities
Deferred tax liability
16
-
0
273,454
-
(273,454)
Net (liabilities)/assets
(541,313)
772,075
Capital and reserves
Called up share capital
18
505,625
505,625
Revaluation reserve
19
-
0
1,745,920
Profit and loss reserves
20
(1,046,938)
(1,479,470)
Total equity
(541,313)
772,075

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved and signed by the director and authorised for issue on 23 July 2026
Mr J W Day
Director
Company registration number 02211479 (England and Wales)
EASTGATE CARE LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 MARCH 2025
- 11 -
Share capital
Revaluation reserve
Profit and loss reserves
Total
£
£
£
£
Balance at 1 October 2022
505,625
1,958,472
(925,895)
1,538,202
Year ended 30 September 2023:
Loss
-
-
(131,403)
(131,403)
Other comprehensive income:
Revaluation of tangible fixed assets
-
(779,632)
-
(779,632)
Tax relating to other comprehensive income
-
144,908
-
0
144,908
Total comprehensive income
-
(634,724)
(131,403)
(766,127)
Transfers
-
-
0
(422,172)
(422,172)
Other movements
-
422,172
-
422,172
Balance at 30 September 2023
505,625
1,745,920
(1,479,470)
772,075
Period ended 31 March 2025:
Loss and total comprehensive income
-
-
(1,313,388)
(1,313,388)
Transfers
-
-
0
1,745,920
1,745,920
Other movements
-
(1,745,920)
-
(1,745,920)
Balance at 31 March 2025
505,625
-
0
(1,046,938)
(541,313)
EASTGATE CARE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
- 12 -
1
Accounting policies
Company information

Eastgate Care Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Cubo, Standard Court, Park Row, Nottingham, NG1 6GN. The principal place of business was Park House Nursing Home, Cinderhill, Bulwell, Nottingham, NG6 8SB.

1.1
Accounting convention

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.

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

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. T he company has therefore taken advantage of e xemptions from the following disclosure requirements:

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

- Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;

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

The financial statements of the company are consolidated in the financial statements of Eastgate Care Group Limited. These consolidated financial statements are available from its registered office, 3rd Floor, Butt Dyke House, 33 Park Row, Nottingham, NG1 6EE.

1.2
Going concern

In preparing the financial statements, the directors have adopted a basis other than that of a going concern basis as explained in the directors' report. true

The company ceased its trading activities in February 2024 with the sale of all the care homes. The financial statements have therefore been prepared on a basis other than that of a going concern, which includes, where appropriate, writing down the company's assets to their recoverable amount. No material adjustments arose as a result of ceasing to apply the going concern basis.

1.3
Reporting period

The director opted to extend the company financial period end from 30 September 2023 to 31 March 2025 resulting in an eighteen month period, therefore the comparative amounts presented in the financial statements including the related notes are not comparable.

EASTGATE CARE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 13 -
1.4
Turnover

Turnover represents the total fees charged to residents during the financial year.

Turnover is allocated to the accounting period to which it relates with any adjustments included in debtors and creditors.

1.5
Tangible fixed assets

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

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
1% Straight Line (Freehold land is not depreciated)
Plant and equipment
15% Reducing Balance
Fixtures and fittings
10% Straight Line

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.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete after making allowance for obsolete and slow moving items.

Cost is calculated on a 'first in first out' basis.

EASTGATE CARE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 14 -
1.8
Cash and cash equivalents

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.

1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

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

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.

Impairment of financial assets

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.

Derecognition of financial assets

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.

EASTGATE CARE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 15 -
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, 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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

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 s ubsequently 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 th r ough 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.

Derecognition of financial liabilities

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

1.10
Taxation

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

Current tax

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

EASTGATE CARE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 16 -
Deferred tax

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

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

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

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

1.13
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.14
Government grants

Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

EASTGATE CARE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
- 17 -
3
Turnover and other revenue
2025
2023
£
£
Other revenue
Interest income
72,145
15,927
Grants received
-
500

Government grants relate to infection control grants and other grants following the COVID-19 pandemic.

There are no unfulfilled conditions or other conditions attached to them at the year end.

4
Operating loss
2025
2023
Operating loss for the period is stated after charging/(crediting):
£
£
Government grants
-
(500)
Fees payable to the company's auditor for the audit of the company's financial statements
25,500
20,040
Depreciation of tangible fixed assets
327
133,548
Impairment of tangible fixed assets
-
0
1,351,868
Loss on disposal of tangible fixed assets
3,413,492
-
Profit on disposal of intangible assets
(3,066,008)
-
Operating lease charges
17,586
31,187
5
Employees

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

2025
2023
Number
Number
Directors
1
1
Management & Administration
4
9
Care Staff
48
186
Total
53
196

Their aggregate remuneration comprised:

2025
2023
£
£
Wages and salaries
1,908,198
4,157,079
Social security costs
190,938
366,040
Pension costs
39,361
80,485
2,138,497
4,603,604
EASTGATE CARE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
- 18 -
6
Director's remuneration
2025
2023
£
£
Remuneration for qualifying services
13,644
9,096
7
Interest receivable and similar income
2025
2023
£
£
Interest income
Other interest income
72,145
15,927
8
Interest payable and similar expenses
2025
2023
£
£
Interest on bank overdrafts and loans
520,295
285,827
Other interest
32,480
13,896
552,775
299,723
9
Taxation
2025
2023
£
£
Current tax
UK corporation tax on profits for the current period
552,117
(22,471)
Adjustments in respect of prior periods
30,359
(38,329)
Total current tax
582,476
(60,800)
Deferred tax
Origination and reversal of timing differences
(273,454)
(293,917)
Total tax charge/(credit)
309,022
(354,717)
EASTGATE CARE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
9
Taxation
(Continued)
- 19 -

The actual charge/(credit) for the period can be reconciled to the expected credit for the period based on the profit or loss and the standard rate of tax as follows:

2025
2023
£
£
Loss before taxation
(1,004,366)
(486,120)
Expected tax credit based on the standard rate of corporation tax in the UK of 25.00% (2023: 22.01%)
(251,092)
(106,986)
Tax effect of expenses that are not deductible in determining taxable profit
8,253
58,275
Effect of change in corporation tax rate
-
0
3,584
Group relief
(1,880)
755
Permanent capital allowances in excess of depreciation
(113,504)
(272,016)
Under/(over) provided in prior years
30,359
(38,329)
Capital gain tax
636,886
-
0
Taxation charge/(credit) for the period
309,022
(354,717)

In addition to the amount charged/(credited) to the income statement, the following amounts relating to tax have been recognised directly in other comprehensive income:

2025
2023
£
£
Deferred tax arising on:
Revaluation of property
-
(144,908)
10
Impairments

Impairment tests have been carried out where appropriate and the following impairment losses have been recognised in profit or loss:

2025
2023
Notes
£
£
In respect of:
Property, plant and equipment
11
-
0
222,575
Recognised in:
Administrative expenses
-
222,575
EASTGATE CARE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
- 20 -
11
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Total
£
£
£
£
Cost or valuation
At 1 October 2023
12,649,661
226,933
484,131
13,360,725
Additions
-
0
-
0
7,550
7,550
Disposals
(12,649,661)
(226,933)
(491,026)
(13,367,620)
At 31 March 2025
-
0
-
0
655
655
Depreciation and impairment
At 1 October 2023
1,649,661
225,111
481,409
2,356,181
Depreciation charged in the period
-
0
-
0
327
327
Eliminated in respect of disposals
(1,649,661)
(225,111)
(481,409)
(2,356,181)
At 31 March 2025
-
0
-
0
327
327
Carrying amount
At 31 March 2025
-
0
-
0
328
328
At 30 September 2023
11,000,000
1,822
2,722
11,004,544

Freehold land and buildings with a carrying amount of £nil (202 3: £1 1,000,00 0) ha d been pledged to secure borrowings of the company. The company wa s not allowed to pledge these assets as security for other borrowings or to sell them to another entity.

Impairments of £nil (2023: £1,129,293) have been recognised in other comprehensive income.

Included within f reehold property is land of £nil (202 3: £755,000) which was not depreciated.

Land and buildings were revalued on 2 July 2021 in line with the valuation report prepared by Frank Knight LLP, an independent, external real estate and investment management company who have specialist teams in the healthcare sector.

The valuation was made at market value based on a fully equipped, operational business, as at 2 July 2021. The values included at 30 September 2023 are the recoverable amounts from the sale of the care homes that has taken place in the period.

In respect of the tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amounts that would have been recognised if the assets had been carried under the historical cost model are as follows:

2025
2023
£
£
Cost
-
8,062,279
Accumulated depreciation
-
(827,399)
Carrying value
-
7,234,880
EASTGATE CARE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
- 21 -
12
Debtors
2025
2023
Amounts falling due within one year:
£
£
Trade debtors
-
0
125,241
Unpaid share capital
5,625
5,625
Corporation tax recoverable
-
0
22,471
Other debtors
2,610,604
863,817
Prepayments and accrued income
57,835
225,360
2,674,064
1,242,514
2025
2023
Amounts falling due after more than one year:
£
£
Corporation tax recoverable
873,650
276,085
Total debtors
3,547,714
1,518,599
13
Creditors: amounts falling due within one year
2025
2023
Notes
£
£
Bank loans and overdrafts
15
-
0
6,413,450
Trade creditors
239,230
338,736
Amounts owed to group undertakings
2,130,417
2,403,292
Corporation tax
1,408,273
575,635
Other taxation and social security
1,030
261,716
Other creditors
291,619
9,712
Accruals and deferred income
64,934
1,493,320
4,135,503
11,495,861
14
Stocks
2025
2023
£
£
Consumables stock
-
18,000
EASTGATE CARE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
- 22 -
15
Loans and overdrafts
2025
2023
£
£
Bank loans
-
0
4,669,257
Bank overdrafts
-
0
1,744,193
-
0
6,413,450
Payable within one year
-
0
6,413,450

The aggregate of secured liabilities at the year end was £Nil (202 3: £6,413,450). The bank loans were fully repaid at the period end.

16
Deferred taxation

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

Liabilities
Liabilities
2025
2023
Balances:
£
£
Accelerated capital allowances
-
34,135
Revaluations
-
239,319
-
273,454
2025
Movements in the period:
£
Liability at 1 October 2023
273,454
Credit to profit or loss
(273,454)
Liability at 31 March 2025
-

17
Retirement benefit schemes
2025
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
39,361
80,485

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.

EASTGATE CARE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
- 23 -
18
Share capital
2025
2023
2025
2023
Ordinary share capital
Number
Number
£
£
Issued and not fully paid
Ordinary A of £1 each
250,000
250,000
250,000
250,000
Ordinary B of £1 each
254,625
254,625
254,625
254,625
Ordinary C of £1 each
1,000
1,000
1,000
1,000
505,625
505,625
505,625
505,625

The Ordinary A, B and C shares carry the sames rights, including the right to dividends and voting powers. The shares rank pari passu in all respects.

During a prior period 5,625 Ordinary B shares were issued at par value. These shares remain unpaid at the year end.

Included in the above share capital are 250,000 A Shares, 249,000 B Shares and 1,000 C Shares that are issued and fully paid. Also included in the above are 5,625 B shares that are issued and not fully paid.

19
Revaluation reserve

This reserve records the value of assets revaluations and fair value movements on assets recognised in other comprehensive income. Amounts representing the equivalent depreciation are transferred to retained earnings each year.

20
Profit and loss reserves

Retained earnings are cumulative net profits of the company after accounting for dividend payments to shareholders.

22
Operating lease commitments
As lessee

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

2025
2023
£
£
Within 1 year
1,368
21,528
Years 2-5
2,747
37,302
4,115
58,830
23
Related party transactions
Transactions with related parties

During the period the company entered into the following transactions with related parties:

Name of related party
Nature of relationship
Other related parties
Close family
EASTGATE CARE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
23
Related party transactions
(Continued)
- 24 -
Description of
Income
Payments
transaction
2025
2023
2025
2023
£
£
£
£
Other related parties
Purchase of equipment
-
0
-
0
-
0
2,000
Balances with related parties
Amounts owed by
Amounts owed to
related parties
related parties
2025
2023
2025
2023
£
£
£
£
Entities with control, joint control or significant influence over the company
-
0
-
0
-
0
2,403,292
Other related parties
-
0
13,110
-
0
-
0
Other information

Amounts due to and from members of the group are interest free, unsecured and repayable on demand.

The amount due of £Nil (202 3: £13,110) is from a close family member of the Director. Interest is charged on the loan at 2.5%. The loan has been written off during the period.

24
Ultimate controlling party

The parent company of Eastgate Care Ltd is Eastgate Care Group Ltd and it's registered office is Cubo Standard Court, Park Row, Nottingham, NG1 6 GN.

The company is controlled by the parent company, Eastgate Care Group Ltd, by virtue of that fact it owns 99.3% of the issued share capital.

The ultimate controlling party is the director, Mr J Day, who controls 100% of the share capital of Eastgate Care Group Ltd.

25
Directors' transactions

Interest is charged on overdrawn loan balances at a rate of 2.25% up to 5 April 2025.

Description
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Loan
840,040
2,017,522
(246,958)
2,610,604
840,040
2,017,522
(246,958)
2,610,604
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