Registered number: 05447577
COMPANY INFORMATION
CONTENTS
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors present their strategic report of the Company for the year ended 31 December 2025.
Since Caremark’s incorporation in 2005, the Company has developed, and continues to develop, a model and system for the delivery of high-quality domiciliary and related care services which it licences pursuant to a franchise agreement to its 141 franchisees in the UK.
The Company receives a monthly advice and support fee from its franchisees, based on their turnover, for the ongoing support and guidance that is provided by the Company. The Company also charges a one-off Licence Fee for all new franchisees joining the Caremark network.
In December 2025, the Company sold its company-owned care office in West Sussex, see note 19.
The Company issued 15 new franchisee licenses during 2025, which was in line with the Company’s internal target, which is in excess of industry averages. The Company foresees the potential to continue this growth in 2026.
For the year ending 31 December 2025, network turnover increased by 11%. Profits before tax in 2025 increased by 3% to
£4,008,463. Turnover has increased at a higher rate than profit due to an increase in Administrative expenses and income and profits from the company-owned care operations decreasing in 2025.
In 2025 the Company received the top accolade in franchising when it was awarded the HSBC/British Franchise Association Franchisor of the Year award. In addition the Company saw continued growth in its franchisee satisfaction score following an independent survey of all its franchise owners reflecting high engagement and satisfaction within its franchisee network.
Overall, the Company performed well during 2025 and achieved most of its own internal targets and budgets.
The Company receives a monthly advice and support fee from its franchisees, based on their turnover, for the ongoing support and guidance that is provided by the Company. The Company also charges a one-off Licence Fee for all new franchisees joining the Caremark network.
In December 2025, the Company sold its company-owned care office in West Sussex, see note 19.
The Company issued 15 new franchisee licenses during 2025, which was in line with the Company’s internal target, which is in excess of industry averages. The Company foresees the potential to continue this growth in 2026.
For the year ending 31 December 2025, network turnover increased by 11%. Profits before tax in 2025 increased by 3% to
£4,008,463. Turnover has increased at a higher rate than profit due to an increase in Administrative expenses and income and profits from the company-owned care operations decreasing in 2025.
In 2025 the Company received the top accolade in franchising when it was awarded the HSBC/British Franchise Association Franchisor of the Year award. In addition the Company saw continued growth in its franchisee satisfaction score following an independent survey of all its franchise owners reflecting high engagement and satisfaction within its franchisee network.
Overall, the Company performed well during 2025 and achieved most of its own internal targets and budgets.
The principal risks the Company faces are the recruitment and retention of care assistants, changes relating to future government policies and cyber security threats.
The domiciliary care industry faces great pressures in the recruitment and retention of care assistants. A significant shortage of care assistants and an ageing population, means that supply cannot keep up with demand, which creates individual stress and business risk for our franchisees.
The Company is confident that any risks and uncertainties can be mitigated and that it will seize the opportunities within the UK marketplace to ensure growth in turnover, network coverage and profitability.
The domiciliary care industry faces great pressures in the recruitment and retention of care assistants. A significant shortage of care assistants and an ageing population, means that supply cannot keep up with demand, which creates individual stress and business risk for our franchisees.
The Company is confident that any risks and uncertainties can be mitigated and that it will seize the opportunities within the UK marketplace to ensure growth in turnover, network coverage and profitability.
Page 1
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
The financial and other key performance indicators are as follows:
This report was approved by the board and signed on its behalf.
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DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors present their report and the financial statements for the year ended 31 December 2025.
The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the year, after taxation, amounted to £2,988,152 (2024 - £2,886,786).
The total distribution of dividends for the year ended 31 December 2025 was £4,485,117 (2024 - £6,400,395).
The directors who served during the year were:
In 2024 the Company successfully introduced a national marketing levy to its network, to create a national marketing fund to further support its franchisees' growth, which will continue to be developed throughout 2026.
The directors are continually investigating the use of various technologies with the aim of streamlining the recruitment process and monitoring compliance of the Franchisee network.
The Company’s business model is being reviewed in detail with changes being made to ensure the company remains competitive and effective whilst delivering the highest standards of care.
The directors are continually investigating the use of various technologies with the aim of streamlining the recruitment process and monitoring compliance of the Franchisee network.
The Company’s business model is being reviewed in detail with changes being made to ensure the company remains competitive and effective whilst delivering the highest standards of care.
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DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Caremark Limited are proud to have an open-door policy. Staff members are encouraged to talk to the Directors any time. The directors are available in person, via emails, Teams or phone. The CEO holds regular meetings with employees to share Company updates. The directors also share video newsletters to give an update about the Company as and when necessary, and communications via the company employee engagement app.
Every January, franchise support centre employees are invited to the Annual Conference where the directors give an update on the industry, annual performance of the network and risks and opportunities for the forthcoming year.
As part of the Performance Management System, all employees share with their managers, their career aspirations, how they wish to progress, and any skills they might need for development. They also have regular 1-2-1 meetings.
The Company communicates openly, how the external economic factors affect the business.
The Company have continued the flexibility of staff members working from home one day a week. In the last financial year, cadence of virtual meetings remained high, ensuring that staff members are fully engaged and do not feel isolated.
Every January, franchise support centre employees are invited to the Annual Conference where the directors give an update on the industry, annual performance of the network and risks and opportunities for the forthcoming year.
As part of the Performance Management System, all employees share with their managers, their career aspirations, how they wish to progress, and any skills they might need for development. They also have regular 1-2-1 meetings.
The Company communicates openly, how the external economic factors affect the business.
The Company have continued the flexibility of staff members working from home one day a week. In the last financial year, cadence of virtual meetings remained high, ensuring that staff members are fully engaged and do not feel isolated.
As many staff are lone workers, the Company has a policy for their manager to be in regular contact with employees, as research shows that loneliness may result into poor mental wellbeing and potential disability, the Company views this as an important policy to be followed.
Those with disabilities may be at greater risk of poor general health and wellbeing, the Company has therefore produced a policy to have frequent and early discussions to identify and mitigate the risk of mental disability.
The Company has chosen in accordance with section 414C(11) of the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 to set out in the Company's strategic report information required by schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 it must be stated in the Directors' Report that it has done so. This includes information that would have been included in the business review and the principal risks and uncertainties.
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DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Subsequent to the year end, the company completed the purchase of a new property for £1.2 million and the sale of its existing property for £472,000 is currently in negotiation. These transactions took place after the reporting date and have therefore been treated as non-adjusting events in these financial statements.
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DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Under section 487(2) of the Companies Act 2006, Menzies LLP will be deemed to have been reappointed as auditor 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.
This report was approved by the board and signed on its behalf.
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CAREMARK LIMITED
We have audited the financial statements of Caremark Limited (the 'Company') for the year ended 31 December 2025, which comprise the Statement of Income and Retained Earnings, the Analysis of Net Debt, the Statement of Financial Position, the Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
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.
The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's Report thereon. The directors are responsible for the other information 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.
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CAREMARK LIMITED (CONTINUED)
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.
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.
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CAREMARK LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
∙The Company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation, and general regulations such as health and safety. There are no industry specific laws and regulations which would be deemed to have a significant impact on the financial statements. We assessed the extent of compliance with the appropriate laws and regulations as part of our procedures on the related financial statement items.
∙We understood how the Company is complying with the legal and regulatory frameworks by, making inquiries to management.
∙The engagement partner assessed whether the engagement team collectively had the appropriate competence and capabilities to identify or recognize non-compliance with laws and regulations. The assessment did not identify any issues in this area.
∙We assessed the susceptibility of the Company financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included:
°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 influence over the financial reporting process;
°Challenging assumptions and judgments made by management in its significant accounting estimates; and
°Identifying and testing journal entries, particularly any journal entries posted with unusual account combinations.
∙As a result of the above procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas:
°Posting of unusual journals and complex transactions.
°Misappropriation of funds through fraudulent purchase ledger and payroll payroll activity.
°Manipulation of amounts subject to significant judgment or estimate.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's Report.
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CAREMARK LIMITED (CONTINUED)
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
Chartered Accountants
Statutory Auditor
3000a Parkway
Hampshire
PO15 7FX
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STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 DECEMBER 2025
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STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 15 to 26 form part of these financial statements.
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STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2025
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ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 DECEMBER 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Caremark Limited is a private company limited by shares incorporated and domiciled in England and Wales.
The address of it's registered office, which is also the same as its principal place of business, is disclosed within the
Company Information page.
The address of it's registered office, which is also the same as its principal place of business, is disclosed within the
Company Information page.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Basic financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fixed asset depreciation and residual values:
The directors have reviewed depreciation rates and asset lives & associated residual values of all fixed asset classes, and have concluded these are appropriate.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Analysis of turnover by country of destination:
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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NOTES TO THE FINANCIAL STATEMENTS
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Profit and loss account
Page 24
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. Contributions totalling £13,308 (2024 - £5,893) were payable to the fund at the reporting date and are included in creditors.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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