Registration number:
for the
Year Ended 31 March 2026
Libra Agencies (UK) Limited
Contents
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Company Information |
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Strategic Report |
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Directors' Report |
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Statement of Directors' Responsibilities |
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Independent Auditor's Report |
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Consolidated Profit and Loss Account |
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Consolidated Balance Sheet |
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Balance Sheet |
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Consolidated Statement of Changes in Equity |
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Statement of Changes in Equity |
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Consolidated Statement of Cash Flows |
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Notes to the Financial Statements |
Libra Agencies (UK) Limited
Company Information
|
Directors |
Rashmi Wazir Siddharth Wazir |
|
Registered office |
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Auditors |
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Libra Agencies (UK) Limited
Strategic Report for the Year Ended 31 March 2026
The directors present their strategic report for the year ended 31 March 2026.
Principal activity
The principal activity of the company is that of a holding company. The principal activity of the group is the provision of care services. The group provides specialist residential care, supported living, domiciliary care and learning disability services across England. The group delivers care through specialist residential and community-based settings.
Strategy and service delivery
The group's strategy is to deliver high-quality, person-centred care that promotes recovery, independence and long-term wellbeing for younger adults with mental health conditions, young-onset dementia and learning
disabilities.
Services are tailored to individual needs and support individuals with complex conditions, including bipolar disorder, substance dependence and eating disorders. Care is delivered through specialist residential homes and community-based settings under structured care plans with appropriate oversight and support.
The group's integrated operating model combines specialist expertise, small-scale residential environments and supported living services to deliver positive outcomes for service users. During the year, the Company operated three residential care homes, five supported living locations and three specialist learning disability centres across Harrow, Hillingdon, Bedford, Ealing, Frithwood and High Wycombe.
These services provide a structured pathway from residential care and hospital settings towards greater independence while maintaining appropriate levels of support based on individual care needs.
Fair review of the business
The results for the year which are set out in the consolidated profit and loss account show turnover of £5,247,232 (2025 - £3,729,785) and an operating profit of £1,068,743 (2025 - £555,558). At 31 March 2026 the group had net assets of £2,978,034 (2025 - £2,940,755). The directors consider the performance for the year and the financial position at the year end to be satisfactory.
The Board monitors financial and operational performance through a comprehensive suite of key performance indicators reviewed monthly. These measures support effective oversight of trading performance, service quality and operational efficiency and are consistent with the information used internally by management.
In FY26, revenue increased by 40.7% to £5.25m (2025 - £3.73m). Operating profit increased by 92.4% to £1.07m (2025 - £0.56m), while EBITDA increased by 50.4% to £0.90m (2025 - £0.60m). Profit after tax for the financial year increased to £0.69m (2025 - £0.11m). The improvement reflected increased occupancy, improved operational performance and the reversal of an impairment provision of £233,016 recognised during the year.
The company's key financial performance indicators during the year were as follows:
|
Financial KPIs |
Unit |
2026 |
2025 |
|
Revenue |
£ |
5,247,232 |
3,729,785 |
|
Operating profit |
£ |
1,068,743 |
555,558 |
|
EBITDA |
£ |
901,477 |
599,449 |
|
Profit after tax |
£ |
690,530 |
105,015 |
Operational performance and outlook
All of the group's registered services continued to hold a 'Good' rating from the Care Quality Commission, reflecting the Board's ongoing commitment to delivering safe, effective and person-centred care.
Strategic priorities and future developments
The group continues to evaluate selective acquisition opportunities that complement its existing service portfolio and enhance its geographic presence. Investment decisions are based on strategic fit, expected financial returns, operational synergies and capital efficiency.
Management remains focused on improving employee retention, reducing reliance on agency staff, increasing occupancy levels and enhancing operational efficiency. Growth opportunities requiring modest capital investment and offering sustainable long-term returns will continue to be prioritised.
Libra Agencies (UK) Limited
Strategic Report for the Year Ended 31 March 2026
Principal risks and uncertainties
The Board regularly reviews the principal risks and uncertainties that may affect the achievement of the group's strategic objectives. The principal risk categories include regulatory compliance, workforce availability, health and safety, liquidity, competition and service quality.
These risks are monitored through established governance arrangements, key performance indicators, management reporting and internal control procedures. The Board reviews the effectiveness of mitigation measures throughout the year.
Risk management and internal controls
The group maintains an established framework for identifying, evaluating and managing the principal risks arising from its operations. Compliance with applicable legislation, regulatory
requirements and ethical standards remains integral to the group's governance framework.
Internal controls are designed to safeguard service users and group assets, ensure the integrity of financial reporting and support compliance with applicable laws and regulations. The Board retains overall responsibility for the effectiveness of the Company's system of risk management and internal control.
Acknowledgements
The Board expresses its sincere appreciation to the Company's service users, commissioners, employees, suppliers, banking partners and other stakeholders for their continued support and commitment throughout the year.
Approved by the
Director
Libra Agencies (UK) Limited
Directors' Report for the Year Ended 31 March 2026
The directors present their report and the for the year ended 31 March 2026.
Directors of the company
The directors who held office during the year were as follows:
Financial instruments
Objectives and policies
The board constantly monitors the group's trading results and revise projections as appropriate to ensure that the group can meet its future obligations as they fall due.
Price risk, credit risk, liquidity risk and cash flow risk
The group is exposed to the usual credit and cash flow risks associated with selling on credit and manages this through credit control procedures. The group's bank loans and loan stock are subject to price and liquidity risk as disclosed in note 17 to the financial statements.
Disclosure of information to the auditor
Each director has taken the steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditor is unaware.
Appointment of auditors
Hazlewoods LLP were appointed as auditors to the company during the period, and have expressed their willingness to continue in office.
Approved by the
Director
Libra Agencies (UK) Limited
Statement of Directors' Responsibilities
The directors are responsible for preparing the Strategic Report, Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and company and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:
• | select suitable accounting policies and apply them consistently; |
• | make judgements and accounting estimates that are reasonable and prudent; |
• | state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
• | 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 group's and the company's transactions and disclose with reasonable accuracy at any time the financial position of the group and 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 group and the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Libra Agencies (UK) Limited
Independent Auditor's Report to the Members of Libra Agencies (UK) Limited
Opinion
We have audited the financial statements of Libra Agencies (UK) Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2026, which comprise the Consolidated Profit and Loss Account, Consolidated Balance Sheet, Balance Sheet, Consolidated Statement of Changes in Equity, Statement of Changes in Equity, Consolidated Statement of Cash Flows, 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 group's and the parent company's affairs as at 31 March 2026 and of the group's 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 auditor responsibilities for the audit of the financial statements section of our report. We are independent of the group 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 group's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were 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 included in the annual report, other than the financial statements and our auditor’s 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 there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinion on other matter 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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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• |
the Strategic Report and 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 our 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 and the Directors' Report.
Libra Agencies (UK) Limited
Independent Auditor's Report to the Members of Libra Agencies (UK) Limited
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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the parent company 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 Statement of Directors' Responsibilities set out on page 5, 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 group’s and the parent 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 group or the parent company or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Extent to which the audit was capable of detecting irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We considered the nature of the group’s industry and its control environment and reviewed the groups’s documentation of their policies and procedures relating to fraud and compliance with laws and regulations. We also enquired of management about their own identification and assessment of the risks of irregularities.
We obtained an understanding of the legal and regulatory framework that the group operates in and identified the key laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements, including the UK Companies Act and tax legislation, and, those that do not have a direct effect on the financial statements but compliance with which may be fundamental to the group’s ability to operate or to avoid a material penalty.
We discussed among the audit engagement team regarding the opportunities and incentives that may exist within the organisation for fraud and how and where fraud might occur in the financial statements.
In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override of controls. In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments; assessed whether the judgments made in accounting estimates are indicative of a potential bias; and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business.
In addition to the above, our procedures to respond to the risks identified included the following:
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• |
reviewing financial statement disclosures by testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements; |
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• |
performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatements due to fraud; |
|
• |
enquiring of management concerning actual and potential litigation and claims and instances of non-compliance with laws and regulations; and |
|
• |
reading minutes of meetings of those charged with governance. |
Libra Agencies (UK) Limited
Independent Auditor's Report to the Members of Libra Agencies (UK) Limited
Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.
A further description of our responsibilities is available on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Use of our report
This report is made solely to the company’s 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.
For and on behalf of
Windsor House
Bayshill Road
GL50 3AT
Libra Agencies (UK) Limited
Consolidated Profit and Loss Account for the Year Ended 31 March 2026
|
Note |
2026 |
2025 |
|
|
Turnover |
|
|
|
|
Cost of sales |
( |
( |
|
|
Gross profit |
|
|
|
|
Administrative expenses |
( |
( |
|
|
Reversal of impairment on tangible fixed assets |
233,016 |
- |
|
|
Other operating income |
|
|
|
|
Operating profit |
|
|
|
|
Other interest receivable and similar income |
|
|
|
|
Interest payable and similar expenses |
( |
( |
|
|
Profit before tax |
|
|
|
|
Tax on profit |
( |
( |
|
|
Profit for the financial year |
|
|
|
|
Profit/(loss) attributable to: |
|||
|
Owners of the company |
|
|
|
|
Non-controlling interests |
|
|
|
|
|
|
The above results were derived from continuing operations.
The group has no other comprehensive income for the year.
Libra Agencies (UK) Limited
(Registration number: 05834374)
Consolidated Balance Sheet as at 31 March 2026
|
Note |
2026 |
2025 |
|
|
Fixed assets |
|||
|
Intangible assets |
|
- |
|
|
Tangible assets |
|
|
|
|
|
|
||
|
Current assets |
|||
|
Debtors |
|
|
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current liabilities |
( |
( |
|
|
Total assets less current liabilities |
|
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
|
Provisions for liabilities |
( |
( |
|
|
Net assets |
|
|
|
|
Capital and reserves |
|||
|
Called up share capital |
800,000 |
800,000 |
|
|
Profit and loss account |
2,178,034 |
1,595,319 |
|
|
Equity attributable to owners of the company |
2,978,034 |
2,395,319 |
|
|
Non-controlling interests |
- |
545,436 |
|
|
Shareholders' funds |
2,978,034 |
2,940,755 |
Approved and authorised by the
Director
Libra Agencies (UK) Limited
(Registration number: 05834374)
Balance Sheet as at 31 March 2026
|
Note |
2026 |
2025 |
|
|
Fixed assets |
|||
|
Investments |
|
|
|
|
Current assets |
|||
|
Debtors: amounts falling due within one year |
|
- |
|
|
Debtors: amounts falling due after more than one year |
75,000 |
725,000 |
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current assets |
|
|
|
|
Net assets |
|
|
|
|
Capital and reserves |
|||
|
Called up share capital |
800,000 |
800,000 |
|
|
Profit and loss account |
94,166 |
109,010 |
|
|
Shareholders' funds |
894,166 |
909,010 |
The company made a loss after tax for the financial year of £14,844 (2025 - loss of £4,618).
Approved and authorised by the
Director
Libra Agencies (UK) Limited
Consolidated Statement of Changes in Equity for the Year Ended 31 March 2026
Equity attributable to the parent company
|
Share capital |
Profit and loss account |
Equity attributable to owners of the parent company |
Non-controlling interests |
Total equity |
|
|
At 1 April 2025 |
|
|
|
|
|
|
Profit for the year |
- |
|
|
|
|
|
Increase in ownership interests in subsidiaries |
- |
|
|
( |
( |
|
At 31 March 2026 |
|
|
|
- |
|
|
Share capital |
Profit and loss account |
Equity attributable to owners of the parent company |
Non-controlling interests |
Total equity |
|
|
At 1 April 2024 |
|
|
|
|
|
|
Profit for the year |
- |
|
|
|
|
|
At 31 March 2025 |
800,000 |
1,595,319 |
2,395,319 |
545,436 |
2,940,755 |
Libra Agencies (UK) Limited
Statement of Changes in Equity for the Year Ended 31 March 2026
|
Share capital |
Profit and loss account |
Total |
|
|
At 1 April 2025 |
|
|
|
|
Loss for the year |
- |
( |
( |
|
At 31 March 2026 |
|
|
|
|
Share capital |
Profit and loss account |
Total |
|
|
At 1 April 2024 |
|
|
|
|
Loss for the year |
- |
( |
( |
|
At 31 March 2025 |
800,000 |
109,010 |
909,010 |
Libra Agencies (UK) Limited
Consolidated Statement of Cash Flows for the Year Ended 31 March 2026
|
Note |
2026 |
2025 |
|
|
Cash flows from operating activities |
|||
|
Profit for the year |
|
|
|
|
Adjustments to cash flows from non-cash items |
|||
|
Depreciation and amortisation |
|
|
|
|
Finance income |
( |
( |
|
|
Finance costs |
|
|
|
|
Income tax expense |
|
|
|
|
Impairment reversal |
(233,016) |
- |
|
|
|
|
||
|
Working capital adjustments |
|||
|
(Increase)/decrease in trade debtors |
( |
|
|
|
Increase in trade creditors |
|
|
|
|
Cash generated from operations |
|
|
|
|
Income taxes paid |
( |
( |
|
|
Net cash flow from operating activities |
|
|
|
|
Cash flows from investing activities |
|||
|
Interest received |
|
|
|
|
Acquisitions of tangible assets |
( |
( |
|
|
Acquisition of intangible assets |
( |
- |
|
|
Increase in ownership interests in subsidiaries |
(653,251) |
- |
|
|
Net cash flows from investing activities |
( |
( |
|
|
Cash flows from financing activities |
|||
|
Interest paid |
( |
( |
|
|
Proceeds from bank borrowing draw downs |
|
- |
|
|
Repayment of bank borrowing |
( |
( |
|
|
Net cash flows from financing activities |
|
( |
|
|
Net increase/(decrease) in cash and cash equivalents |
|
( |
|
|
Cash and cash equivalents at 1 April |
|
|
|
|
Cash and cash equivalents at 31 March |
282,896 |
162,623 |
|
Libra Agencies (UK) Limited
Notes to the Financial Statements for the Year Ended 31 March 2026
|
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
|
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.
Basis of preparation
These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.
The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.
Basis of consolidation
The consolidated financial statements consolidate the financial statements of the company and its subsidiary undertakings drawn up to 31 March 2026.
A subsidiary is an entity controlled by the company. Control is achieved where the company has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.
The results of subsidiaries acquired or disposed of during the year are included in the Profit and Loss Account from the effective date of acquisition or up to the effective date of disposal, as appropriate. Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by the group.
The purchase method of accounting is used to account for business combinations that result in the acquisition of subsidiaries by the group. The cost of a business combination is measured as the fair value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange, plus costs directly attributable to the business combination. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. Any excess of the cost of the business combination over the acquirer’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities recognised is recorded as goodwill.
Inter-company transactions, balances and unrealised gains on transactions between the company and its subsidiaries, which are related parties, are eliminated in full.
Intra-group losses are also eliminated but may indicate an impairment that requires recognition in the consolidated financial statements.
Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group. Non-controlling interests in the net assets of consolidated subsidiaries are identified separately from the group’s equity therein. Non-controlling interests consist of the amount of those interests at the date of the original business combination and the non-controlling shareholder’s share of changes in equity since the date of the combination.
Libra Agencies (UK) Limited
Notes to the Financial Statements for the Year Ended 31 March 2026
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.
Judgements and estimation uncertainty
These financial statements do not contain any significant judgements or estimation uncertainty. |
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the group’s activities.
The group recognises revenue when: the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the group's activities.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the group operates and generates taxable income.
Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the consolidated financial statements and on unused tax losses or tax credits in the group. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
|
Asset class |
Depreciation method and rate |
|
Freehold property |
Nil |
|
Leasehold improvements |
Straight line over 15 years |
|
Fixtures, fittings and equipment |
25% Straight line |
|
Motor vehicles |
25% Straight line |
Freehold properties operated by the group are not depreciated. This represents a departure from FRS 102 which requires property to be depreciated as it has a limited useful economic life. However, the directors are of the opinion that the adoption of this policy is necessary to give a true and fair view of the financial statements due to the high level of maintenance being performed on all properties. These values are retained subject to the requirement to test assets for impairment in accordance with FRS 102.
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Libra Agencies (UK) Limited
Notes to the Financial Statements for the Year Ended 31 March 2026
Intangible assets
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the group’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
|
Asset class |
Amortisation method and rate |
|
Goodwill |
Straight line over 10 years |
Investments
Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the group will not be able to collect all amounts due according to the original terms of the debtors.
Trade creditors
Trade creditors 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 the group does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the group has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Libra Agencies (UK) Limited
Notes to the Financial Statements for the Year Ended 31 March 2026
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the group has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Financial instruments
Classification
Recognition and measurement
Impairment
A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.
The recoverable amount of goodwill is derived from measurement of the present value of the future cash flows of the cash-generating units ('CGUs') of which the goodwill is a part. Any impairment loss in respect of a CGU is allocated first to the goodwill attached to that CGU, and then to other assets within that CGU on a pro-rata basis.
Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. Where a reversal of impairment occurs in respect of a CGU, the reversal is applied first to the assets (other than goodwill) of the CGU on a pro-rata basis and then to any goodwill allocated to that CGU.
For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.
Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.
Libra Agencies (UK) Limited
Notes to the Financial Statements for the Year Ended 31 March 2026
|
Turnover |
The analysis of the group's Turnover for the year from continuing operations is as follows:
|
2026 |
2025 |
|
|
Rendering of services |
|
|
The total turnover of the company has been derived from its principal activity wholly undertaken in the United Kingdom.
|
Other operating income |
The analysis of the group's other operating income for the year is as follows:
|
2026 |
2025 |
|
|
Miscellaneous other operating income |
|
|
|
Insurance claims receivable |
- |
167,337 |
|
|
|
|
Operating profit |
Arrived at after charging/(crediting)
|
2026 |
2025 |
|
|
Depreciation expense |
|
|
|
Amortisation expense |
|
- |
|
Impairment reversal |
( |
- |
|
Operating lease expense - property |
|
|
|
Operating lease expense - plant and machinery |
|
|
|
Other interest receivable and similar income |
|
2026 |
2025 |
|
|
Interest income on bank deposits |
|
|
|
Interest payable and similar expenses |
|
2026 |
2025 |
|
|
Interest expense on bank borrowings |
|
|
|
Interest expense on other finance liabilities |
- |
|
|
|
|
Libra Agencies (UK) Limited
Notes to the Financial Statements for the Year Ended 31 March 2026
|
Staff costs |
The aggregate payroll costs (including directors' remuneration) were as follows:
|
2026 |
2025 |
|
|
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Pension costs, defined contribution scheme |
|
|
|
|
|
The average number of persons employed by the group (including directors) during the year, analysed by category was as follows:
|
2026 |
2025 |
|
|
Administration and support |
|
|
|
Operations |
|
|
|
|
|
Company
The aggregate payroll costs (including directors' remuneration) were as follows:
|
2026 |
2025 |
|
|
Wages and salaries |
31,500 |
31,079 |
The company has no employees other than the directors.
|
Directors' remuneration |
The directors' remuneration for the year was as follows:
|
2026 |
2025 |
|
|
Remuneration |
|
|
There were no pension contributions paid by the group on behalf of the directors during the year.
|
Auditors' remuneration |
|
2026 |
2025 |
|
|
Audit of these financial statements |
11,250 |
11,500 |
|
Other fees to auditors |
||
|
All other non-audit services |
|
|
Libra Agencies (UK) Limited
Notes to the Financial Statements for the Year Ended 31 March 2026
|
Taxation |
Tax charged/(credited) in the consolidated profit and loss account
|
2026 |
2025 |
|
|
Current taxation |
||
|
UK corporation tax |
|
|
|
UK corporation tax adjustment to prior periods |
( |
|
|
29,713 |
181,464 |
|
|
Deferred taxation |
||
|
Arising from origination and reversal of timing differences |
|
|
|
Tax expense in the income statement |
|
|
The tax on profit before tax for the year is lower than the standard rate of corporation tax in the UK (2025 - higher than the standard rate of corporation tax in the UK) of
The differences are reconciled below:
|
2026 |
2025 |
|
|
Profit before tax |
|
|
|
Corporation tax at standard rate |
|
|
|
(Decrease)/increase in UK and foreign current tax from adjustment for prior periods |
( |
|
|
Tax increase/(decrease) from effect of capital allowances and depreciation |
|
( |
|
Effect of revenues exempt from taxation |
( |
- |
|
Effect of expense not deductible in determining taxable profit (tax loss) |
|
- |
|
Total tax charge |
|
|
Deferred tax
Group
Deferred tax assets and liabilities
|
2026 |
Liability |
|
Accelerated capital allowances |
|
|
|
|
2025 |
Liability |
|
Accelerated capital allowances |
|
|
|
Libra Agencies (UK) Limited
Notes to the Financial Statements for the Year Ended 31 March 2026
|
Intangible assets |
Group
|
Goodwill |
|
|
Cost |
|
|
Additions and at 31 March 2026 |
|
|
Amortisation |
|
|
Amortisation charge and at 31 March 2026 |
|
|
Carrying amount |
|
|
At 31 March 2026 |
|
Libra Agencies (UK) Limited
Notes to the Financial Statements for the Year Ended 31 March 2026
|
Tangible assets |
Group
|
Freehold property |
Furniture, fittings and equipment |
Motor vehicles |
Leasehold improvements |
Total |
|
|
Cost or valuation |
|||||
|
At 1 April 2025 |
|
|
|
|
|
|
Additions |
- |
|
- |
- |
|
|
Acquired through business combinations |
|
|
|
- |
|
|
At 31 March 2026 |
|
|
|
|
|
|
Depreciation |
|||||
|
At 1 April 2025 |
|
|
|
|
|
|
Charge for the year |
- |
|
|
|
|
|
Reversal of previous impairment |
( |
- |
- |
- |
( |
|
At 31 March 2026 |
- |
|
|
|
|
|
Carrying amount |
|||||
|
At 31 March 2026 |
|
|
|
|
|
|
At 31 March 2025 |
|
|
- |
|
|
During the year, the group recognised a reversal of impairment of £233,016 in respect of freehold property following an assessment of its recoverable amount. The reversal arose due to the reopening of the Care Home and revised forecasts supporting a higher value in use.
Libra Agencies (UK) Limited
Notes to the Financial Statements for the Year Ended 31 March 2026
|
Investments |
Company
|
2026 |
2025 |
|
|
Investments in subsidiaries |
|
|
|
Subsidiaries |
£ |
|
Cost and carrying amount |
|
|
At 1 April 2025 |
|
|
Additions |
|
|
At 31 March 2026 |
|
During the year, the company increased its shareholding in its subsidiary undertaking Carrington UK (Holdings) Limited. The company acquired an additional 20,000 shares for total consideration of £653,251, increasing its shareholding from 75% to 100%.
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
|
Undertaking |
Country of incorporation |
Holding |
Proportion of voting rights and shares held |
|
|
2026 |
2025 |
|||
|
Subsidiary undertakings |
||||
|
|
England and Wales |
|
|
|
|
|
England and Wales |
|
|
|
The company's investment in Care Assist Limited is held indirectly via Carrington UK (Holdings) Limited.
The principal activity of Carrington UK (Holdings) Limited is that of a holding company. The principal activity of Care Assist Limited is the same as that of the group. The registered office address of both subsidiaries is the same as that of Libra Agencies (UK) Limited.
|
Debtors |
|
Group |
Company |
|||
|
2026 |
2025 |
2026 |
2025 |
|
|
Trade debtors |
|
|
- |
- |
|
Amounts owed by group undertakings |
- |
- |
|
|
|
Other debtors |
|
|
- |
- |
|
Prepayments |
|
|
- |
- |
|
Accrued income |
|
|
- |
- |
|
|
|
|
|
|
|
Less non-current portion |
- |
- |
( |
( |
|
|
|
|
- |
|
Libra Agencies (UK) Limited
Notes to the Financial Statements for the Year Ended 31 March 2026
|
Creditors |
|
Group |
Company |
||||
|
Note |
2026 |
2025 |
2026 |
2025 |
|
|
Due within one year |
|||||
|
Loans and borrowings |
|
|
- |
- |
|
|
Trade creditors |
|
|
- |
- |
|
|
Amounts due to related parties |
- |
|
- |
- |
|
|
Social security and other taxes |
|
|
|
- |
|
|
Outstanding defined contribution pension costs |
|
|
- |
- |
|
|
Other payables |
|
|
- |
- |
|
|
Accruals |
|
|
|
|
|
|
Corporation tax liability |
100,833 |
110,974 |
- |
- |
|
|
|
|
|
|
||
|
Due after one year |
|||||
|
Loans and borrowings |
|
|
- |
- |
|
Libra Agencies (UK) Limited
Notes to the Financial Statements for the Year Ended 31 March 2026
|
Loans and borrowings |
Current loans and borrowings
|
Group |
Company |
|||
|
2026 |
2025 |
2026 |
2025 |
|
|
Bank borrowings |
|
|
- |
- |
Non-current loans and borrowings
|
Group |
Company |
|||
|
2026 |
2025 |
2026 |
2025 |
|
|
Bank borrowings |
|
|
- |
- |
Bank borrowings consist of five loans held with Coutts & Co. The first loan of £1,400,000 is repayable in quarterly capital and interest instalments of £30,505, with the remaining amount repayable on the expiry date in June 2026. Interest is charged at a rate of 2.35% above SONIA per annum. The balance outstanding at 31 March 2026 is £846,849 (2025 - £1,000,652).
The second loan of £1,150,000 is repayable in quarterly instalments of £20,535, with the remaining amount payable on the expiry date in February 2027. Interest is charged at a rate of 2.6% above the Bank of England base rate per annum. The balance outstanding at 31 March 2026 is £829,142 (2025 - £911,282).
The third loan of £1,700,000 is repayable in quarterly instalments of £28,071, with the remaining amount payable on the expiry date in June 2027. Interest is charged at a rate of 2.6% above SONIA per annum. The balance outstanding at 31 March 2026 is £1,235,648 (2025 - £1,347,932).
The fourth loan of £1,700,000 was drawn down in July 2025 and is repayable in quarterly instalments of £18,672, with the remaining amount payable on the expiry date in July 2030. Interest is charged at a rate of 2.75% above SONIA per annum. The balance outstanding at 31 March 2026 is £1,662,656.
The fifth loan of £650,000 was drawn down in November 2025 and is repayable in quarterly instalments of £13,459, with the remaining amount payable on the expiry date in November 2030. Interest is charged at a rate of 2.75% above SONIA per annum. The balance outstanding at 31 March 2026 is £636,541.
The loans are secured by way of a fixed and floating charge on the group's freehold properties.
|
Pension and other schemes |
Defined contribution pension scheme
The group operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the group to the scheme and amounted to £
Contributions totalling £
|
Share capital |
Allotted, called up and fully paid shares
|
2026 |
2025 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
800,000 |
|
800,000 |
Libra Agencies (UK) Limited
Notes to the Financial Statements for the Year Ended 31 March 2026
|
Obligations under leases and hire purchase contracts |
Group
Operating leases
The total of future minimum lease payments is as follows:
|
2026 |
2025 |
|
|
Not later than one year |
|
|
|
Later than one year and not later than five years |
|
|
|
Later than five years |
|
|
|
|
|
|
Analysis of changes in net debt |
Group
|
At 1 April 2025 |
Financing cash flows |
At 31 March 2026 |
|
|
Cash and cash equivalents |
|||
|
Cash |
162,624 |
120,272 |
282,896 |
|
Borrowings |
|||
|
Bank borrowings |
(3,259,866) |
(1,950,970) |
(5,210,836) |
|
|
|||
|
( |
( |
( |
|
|
Related party transactions |
Group
Summary of transactions with key management
Summary of transactions with parent
|
Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate controlling party is