REGISTERED NUMBER: NI071640 (Northern Ireland)

CORRIEWOOD PRIVATE CLINIC LIMITED

STRATEGIC REPORT, DIRECTORS' REPORT AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025

Page

Company Information

1

Strategic Report

2

Directors' Report

4

Independent Auditors' Report

6

Income Statement

9

Statement of Financial Position

10

Statement of Changes in Equity

11

Notes to the Financial Statements

12

DIRECTORS:

Ann Monica Byrne

Angela McKeever

Ricardo D Oliveira

Paula Murray

Anthony John Coulter

Shauna Margaret Byrne

Aisling Louise Byrne

REGISTERED OFFICE:

1 Drumbuck Road

Castlewellan

BT31 9NG

REGISTERED NUMBER:

NI071640 (Northern Ireland)

INDEPENDENT AUDITORS:

Cooper Parry Audit (Ireland) Limited

Statutory Auditor

Unit 7 Dyehouse

Linen Green

Dungannon

Co. Tyrone

BT71 7HB

BANKERS:

Bank of Ireland

1 Donegall Square South

Belfast

BT1 5LR

SOLICITORS:

EDG

40 Linenhall Street

Belfast

BT2 8BA

PRINCIPAL ACTIVITY

The principal activity of the company is the provision of healthcare services including domiciliary care, nursing/residential homes and specialist care facilities.

REVIEW OF BUSINESS

The directors aim to present a balanced and comprehensive view of the development and performance of the company during the year and its position at the year end. The review is consistent with the size and nature of the company and is written in the context of the risks and uncertainties faced.

Revenue during the year increased from £10,627,029 to £13,134,322, whilst gross profit increased from £3,726,316 to £5,262,431. The company continues to manage costs and generated a profit before tax of £2,706,002 (2024 £1,664,963).

PRINCIPAL RISKS AND UNCERTAINTIES

PARTNERSHIPS WITH HEALTH AND SOCIAL CARE TRUSTS

The Health and Social Care Trusts in Northern Ireland rely on the private sector to provide nursing, residential and specialist care. The company, in turn, relies on the Trusts to place residents into its care, however as with all other public bodies, they are under pressure to reduce their costs which could have an impact on the company.

AVAILABILITY OF QUALITY NURSING STAFF

The company relies on the provision of well trained staff being available, especially from the nursing sector. At present there is a shortage of nurses within the UK and as such nursing costs are expected to continue to rise.

COMPETITION RISK:

The company operates in a very competitive market in the Northern Ireland nursing industry. In order to manage such risk, the company aims to set high quality standards and ensure it achieves the best possible care for their residents.

ECONOMIC RISK:

Economic risk is inherent in the industry in which the company operates. The directors manage this risk by ensuring relationships with suppliers are maintained. The company has developed long standing relationships with suppliers over the previous years and will continue to develop these relationships further in the future.

HEALTH AND SAFETY

The company is committed to achieving the highest practicable standards in health and safety management and strives to make all sites and homes safe environments for employees and customers alike.

KEY PERFORMANCE INDICATORS

The company uses the following key performance indicators to monitor the performance of the business.

2025

2024

£

£

Turnover

13,134,322

10,627,029

Operating profit

2,719,118

1,669,882

Profit before tax

2,706,002

1,664,963

The directors are satisfied with the results for the year and believe the company is in a strong position to continue its performance and initial results for the financial year 2026 would indicate a satisfactory performance for 2026.

FUTURE DEVELOPMENTS

The company is committed to long term creation of shareholder value by increasing the company's market share. The company aims to increase revenue and operating profits. The company will continue to meet the needs of residents and develop innovative solutions for their needs while remaining highly competitive.

ON BEHALF OF THE BOARD:

Anthony John Coulter - Director

19 August 2026

The directors present their report with the audited financial statements of the company for the year ended 30 November 2025.

PRINCIPAL ACTIVITY

The principal activity of the Company in the year under review was that of the operation of a nursing home along with a specialist care facility and accommodation of vulnerable adults

DIVIDENDS

No dividends will be distributed for the year ended 30 November 2025.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 December 2024 to the date of this report.

Ann Monica Byrne

Angela McKeever

Ricardo D Oliveira

Other changes in directors holding office are as follows:

Mary Imelda Mc Grady - resigned 6 August 2025

Maria Therese McGrady - resigned 6 August 2025

Steven Close - resigned 8 October 2025

Paula Murray - appointed 5 August 2025

Anthony John Coulter - appointed 3 September 2025

Shauna Margaret Byrne - appointed 29 July 2025

Aisling Louise Byrne - appointed 29 July 2025

POLITICAL DONATIONS AND EXPENDITURE

The company made no political donations or incurred any political expenditure during the current year (2024: £Nil)

EMPLOYMENT OF DISABLED PERSONS

The company gives full consideration to applications for employment from disabled persons where the requirements of the job can be adequately fulfilled. Where existing employees become disabled, it is the company's policy wherever practicable to provide continuing employment under normal terms and conditions and to provide training and career development and promotion to disabled employees wherever appropriate.

EMPLOYEE INVOLVEMENT

During the year, the policy of providing employees with information about the company has continued to be through internal communication methods.

EVENTS AFTER THE END OF THE REPORTING PERIOD

There are no events since the balance sheet date of note and no post balance sheet events require disclosure in the financial statements

FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES

The company's operations expose it to a variety of financial risks that include the effects of changes in liquidity risk and interest rate risk. The company has in place a risk management programme that seeks to limit the adverse effects on the financial performance of the group by monitoring levels of debt finance and the related finance costs.

Given the size of the group, the directors have not delegated the responsibility of monitoring financial risk management to a sub-committee of the board. The policies set by the director are implemented by the company's finance department.

LIQUIDITY RISK

The company actively manages cash flows to ensure the company has sufficient available funds for operations and planned expansions.

INTEREST RATE RISK

The company has both interest bearing assets and interest bearing liabilities, which bear interest at variable rates. The directors will revisit the appropriateness of this policy should the company's operations change in size or nature.

FUTURE DEVELOPMENTS

The section on future developments, which is detailed in the strategic report, is included in this report by cross reference.

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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), 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 and then apply them consistently;

-	make judgements 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the Company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

AUDITORS

The audit business of Cavanaghkelly was acquired by Cooper Parry Audit (Ireland) Limited on 24th July 2025. Cavanaghkelly has resigned as auditor and Cooper Parry Audit (Ireland) Limited has been appointed in its place.

The auditors, Cooper Parry Audit (Ireland) Limited, have indicated their willingness to continue in office in accordance with the provision of Section 485 of the Companies Act 2006.

ON BEHALF OF THE BOARD:

Anthony John Coulter - Director

19 August 2026

Opinion

We have audited the financial statements of Corriewood Private Clinic Limited (the 'Company') for the year ended 30 November 2025 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and Notes to the Financial Statements, 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 30 November 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 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 directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Directors' Report, but does not include the financial statements and our Auditors' Report thereon.

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 this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

-	the information given in the 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 where 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 five, 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 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.

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.

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. The objectives of our audit in respect of fraud are to assess the risk of material misstatement due to fraud, design and implement appropriate responses to those assessed risks and to respond appropriately to instances of fraud or suspected fraud identified during the course of our audit. However, the primary responsibility for the prevention and detection of fraud rests with management and those charged with governance of the company.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

-

We obtained understanding of the legal and regulatory requirements applicable to the company’s financial statements and considered the most significant are the Companies Act 2006, Financial Reporting Standards (FRS102) and UK taxation legislation;

-

We have assessed the risk of material misstatement of the financial statements, including risk of material misstatement due to fraud and how it might occur by holding discussions with management and those charged with governance;

-

We enquired of management and those charged with governance as to any known instances of non-compliance or suspected non-compliance with laws and regulations;

-

Understanding the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations; and

-

Discussions amongst the audit engagement team regarding how fraud might occur in the financial statements and any potential indicators of fraud. As part of this discussion we identified the following potential areas where fraud may occur: timing of revenue recognition and management override.

The audit response to risks identified included:

-

Reviewing the financial statements disclosures and testing to supporting documentation to assess compliance with the relevant laws and regulations above;

-

Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risk of material misstatement due to fraud;

In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments, assessing whether the judgements made in making accounting estimates are reasonable and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

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.

Mr. Desmond Kelly (F.C.A) (Senior Statutory Auditor)

for and on behalf of Cooper Parry Audit (Ireland) Limited

Statutory Auditor

Unit 7 Dyehouse

Linen Green

Dungannon

Co. Tyrone

BT71 7HB

19 August 2026

TURNOVER

13,134,322

10,627,029

Cost of sales

(7,871,891

)

(6,900,713

)

GROSS PROFIT

5,262,431

3,726,316

Administrative expenses

(2,552,870

)

(2,094,635

)

2,709,561

1,631,681

Other operating income

9,557

38,201

OPERATING PROFIT

6

2,719,118

1,669,882

Finance costs

7

(13,116

)

(4,919

)

PROFIT BEFORE TAXATION

2,706,002

1,664,963

Tax on profit

8

(392,914

)

(301,588

)

PROFIT FOR THE FINANCIAL YEAR

2,313,088

1,363,375

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

2,313,088

1,363,375

NON-CURRENT ASSETS

Tangible assets

10

206,506

257,379

CURRENT ASSETS

Receivables: amounts falling due within one year

11

3,901,474

2,749,116

Cash at bank

1,515,322

310,989

5,416,796

3,060,105

PAYABLES

Amounts falling due within one year

12

(841,199

)

(822,236

)

NET CURRENT ASSETS

4,575,597

2,237,869

TOTAL ASSETS LESS CURRENT LIABILITIES

4,782,103

2,495,248

PAYABLES

Amounts falling due after more than one year

13

-

(14,039

)

PROVISIONS FOR LIABILITIES

15

(30,746

)

(42,940

)

NET ASSETS

4,751,357

2,438,269

CAPITAL AND RESERVES

Called up share capital

16

2

2

Retained earnings

17

4,751,355

2,438,267

SHAREHOLDERS' FUNDS

4,751,357

2,438,269

The financial statements were approved by the Board of Directors and authorised for issue on 19 August 2026 and were signed on its behalf by:

Anthony John Coulter - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 December 2023

2

1,724,892

1,724,894

Changes in equity

Dividends

-

(650,000

)

(650,000

)

Total comprehensive income

-

1,363,375

1,363,375

Balance at 30 November 2024

2

2,438,267

2,438,269

Changes in equity

Total comprehensive income

-

2,313,088

2,313,088

Balance at 30 November 2025

2

4,751,355

4,751,357

1.	STATUTORY INFORMATION

Corriewood Private Clinic Limited is a private company, limited by shares, registered in Northern Ireland, within the United Kingdom. The company's registered number and registered office address can be found on the Company Information page.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on a going concern basis 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. No critical judgements or critical accounting estimates have been applied to these financial statements.

The following principal accounting policies have been applied consistently unless otherwise stated.

Financial Reporting Standard 102 - reduced disclosure exemptions

FRS 102 allows a qualifying entity certain disclosure exemptions, subject to certain conditions. The company has taken advantage of the following exemptions:

- from preparing a Statement of Cash Flows on the basis that it is a qualifying entity and its cash flows are included in the consolidated financial statements of Corriewood Holdings Limited;

- from disclosing the company's key management personnel compensation as required by FRS 102 paragraph 33.7.

The consolidated financial statements of Corriewood Holdings Limited are publicly available and may be obtained from Companies House, Second Floor, The Linenhall, 32-38 Linenhall Street, Belfast.

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.

Provision of services:

Revenue from a contract to provide services is recognised in the period in which the services are provided. The following criteria must also be met before revenue is recognised:

- the amount of revenue can be measured reliably;

- it is probable that future economic benefits will flow through the company

- the costs incurred or to be incurred in respect of the transaction can be measured reliably

Property, plant and equipment

Property, plant and equipment are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes expenditure that is directly attributable to making the asset capable of operating as intended.

The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:

Plant and machinery

10% Reducing balance

Fixtures, fittings and equipment

25% Reducing balance

Motor vehicles

20% Reducing balance

The carrying values of property, plant and equipment are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Financial instruments

The company have chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

(i) Financial assets

Basic financial assets, including trade and other receivables, cash and bank balances and amounts owed by related parties and are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. 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 decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

(ii) Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans and overdrafts and amounts owed to related parties 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 receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the draw-down occurs. To the extent there is no evidence that it is probable that some or all of the facility will be drawn down, the fee is capitalised as a pre-payment for liquidity services and amortised over the period of the facility to which it relates.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts 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 payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

(iii) Offsetting

Financial assets and liabilities are offset and 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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Where the company enters into a hire purchase lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a 'finance lease'. The asset is recorded in the balance sheet as a tangible fixed asset and is depreciated over the life of its estimated useful economic life or the term of the lease, whichever is shorter. Future instalments under such leases, net of finance charges, are included within creditors. Rentals payables are apportioned between the finance element, which is charged to the income statement, and the capital element which reduces the outstanding obligation for future instalments.

Rentals paid under operating leases are charged to the income statement on a straight line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

Dividends and distribution to equity holders

Dividends and other distributions to the company's shareholders are recognised as a liability in the financial period in which the dividends and other distributions are approved by the company's shareholders.

4.	EMPLOYEES AND DIRECTORS

Average number of employees during the year

2025

2024

were as follows:

Total number of staff

244

221

244

221

2025

2024

Staff Costs

£

£

Wages and Salaries

7,023,126

5,729,259

Social security costs

795,457

559,320

Pension costs

147,146

125,656

7,965,729

6,414,235

5.	DIRECTORS' EMOLUMENTS

Directors Remuneration

2025

2024

£

£

Directors Emoluments

-

-

Pension costs

-

-

-

-

The directors received no remuneration from the company during the year (2024: £nil). The directors are remunerated by other group entities for services provided across the group, and no recharge has been made to the company.

The number of directors accruing benefits under money purchase pension schemes during the year was nil (2024: nil).

6.	OPERATING PROFIT

Operating profit or loss is stated after charging:

2025

2024

£

£

Depreciation of tangible assets:

68,663

68,655

Operating lease rentals

900,000

900,000

Auditor's remuneration

9,000

8,600

Fees payable for other services

950

900

7.	FINANCE COSTS

2025

2024

£

£

Other interest

11,093

4,919

Hire purchase interest

2,023

-

13,116

4,919

8.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

2025

2024

£

£

Current tax:

UK corporation tax

405,108

306,318

Deferred tax

(12,194

)

(4,730

)

Tax on profit

392,914

301,588

Reconciliation of total tax charge included in profit and loss

The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2025

2024

£

£

Profit before tax

2,706,002

1,664,963

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%)

676,501

416,241

Effects of:

Expenses not deductible for tax purposes

297

12

Group relief (claimed)/surrendered

(283,884

)

(114,665

)

Total tax charge

392,914

301,588

9.

DIVIDENDS

2025

2024

£

£

Ordinary shares of 0.001 each

Interim

-

650,000

10.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 December 2024

45,607

1,400,253

112,711

1,558,571

Additions

-

17,790

-

17,790

At 30 November 2025

45,607

1,418,043

112,711

1,576,361

DEPRECIATION

At 1 December 2024

21,528

1,219,472

60,192

1,301,192

Charge for year

2,676

55,275

10,712

68,663

At 30 November 2025

24,204

1,274,747

70,904

1,369,855

NET BOOK VALUE

At 30 November 2025

21,403

143,296

41,807

206,506

At 30 November 2024

24,079

180,781

52,519

257,379

11.

RECEIVABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade receivables

343,095

332,613

Other receivables

37,915

24,193

Amounts owed by group undertakings

3,479,047

2,368,626

Prepayments and accrued income

41,417

23,684

3,901,474

2,749,116

The amount owed by group undertakings are interest free and recoverable on demand.

12.

PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts (see note 14)

14,299

6,515

Trade payables

106,447

138,102

Corporation Tax

251,358

304,704

Social security and other taxes

158,298

122,651

Other payables

133,990

123,471

Accruals and deferred income

176,807

126,793

841,199

822,236

An intercompany cross guarantee is in place with regards to the group borrowings from Bank of Ireland. This is secured over the assets and undertakings of Corriewood Private Clinic Limited, Corriewood Estates (N.I.) Limited, Corriewood Lodge Limited, Corriewood Developments Limited, Corriewood Holdings Limited and G&M Lodge Caring Limited.