The director presents the strategic report for the year ended 30 April 2023.

The principal activity of the company is that of nursing home activities.

The company increased turnover from the prior year by 9.43% to £3,687,052 (2022 : £3,369,208). However, due to increased direct costs, resulting from recruitment difficulties, there is a resultant gross loss for the year of £(263,270). The prior year showed a gross profit of £345,113.

The after effects of the Covid-19 pandemic continue to present a significant risk to the company and its employees. The health and safety of employees and residents has remained the company's top priority throughout the year and a wide range of exceptional measures continued to be maintained to keep them all safe.

The combined effects of the pandemic and Brexit have made recruitment and retention of staff much more difficult. This has led to the increased use of subcontract labour during the year to cover shortages due to illness and difficulties recruiting, increasing by 94.8% to £951,255 (2022: £488,333).

During the prior financial year, the business faced significant operational and financial challenges, driven in part by ineffective management and a lack of strategic oversight. This resulted in inefficiencies, excessive reliance on agency staffing, and cost pressures that impacted overall performance.

Following a change in leadership, a new management team has been appointed with a clear mandate to restore stability, improve efficiency, and position the business for sustainable growth. The Board has implemented a number of targeted measures, including:

• Substantial reduction in agency staffing costs – annual agency spend, which was approaching £500,000, has now been reduced to a negligible level through improved recruitment, retention, and workforce planning.

• Streamlining of operational processes, eliminating inefficiencies and improving productivity.

• Strengthened financial controls, budgetary discipline, and enhanced reporting to support informed decision-making.

• Renewed focus on service quality and client satisfaction, resulting in improved feedback and stronger client relationships.

These actions have already delivered performance above expectations in the current year to date and have materially improved the company’s operational and financial position. The Board is confident that the business is now on a clear upward trajectory and is well placed to capitalise on growth opportunities.

With a stable and capable management team in place, strengthened operational performance, and positive market prospects, the director is satisfied that the company remains a viable and sustainable going concern. This improvement underpins ongoing discussions with stakeholders and provides a strong foundation for securing refinancing arrangements to support the next stage of growth.

Although the bank facility has not been formally renewed, Barclays Bank plc has continued to support the company throughout the last 18 months of operational turnaround. This ongoing backing — and the bank’s willingness to continue its support until refinancing is completed — is a strong endorsement of the progress made and reflects its confidence in the company’s viability and management team.

The key financial performance indicators used by the business are revenue, gross margin, forecast cash resources and EBITDA. These are complimented by KPI's associated with occupancy rates, average weekly fees and target performance linked to customer service and regulatory inspection results. Turnover increased by £317,844 from the previous financial year, whilst gross profit decreased by £608,383 as the company continues to develop its business.

On behalf of the board

The director presents her annual report and financial statements for the year ended 30 April 2023.

The principal activity of the company continued to be that of nursing home activities.

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

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

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

The director is responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless she is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

• select suitable accounting policies and then apply them consistently;

• make judgements and accounting estimates that are reasonable and prudent;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. She is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

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

We have audited the financial statements of Sentimental Care Ltd (the 'company') for the year ended 30 April 2023 which comprise the profit and loss account, the statement of comprehensive income, the balance sheet, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• give a true and fair view of the state of the company's affairs as at 30 April 2023 and of its loss 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'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 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.

Material uncertainty related to going concern

We draw your attention to note 1.2 to the financial statements which indicates that the company is dependent upon the support of lenders, Barclays Bank plc and its director T Ellis.

As stated in note 1.2, these events or conditions, along with other matters as set forth in note 1.2, indicate that a material uncertainty exists that may cast significant doubt over the company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The director is responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

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

• the strategic report and the director's report have been prepared in accordance with 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 director's report.

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

• adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

• the financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of director's remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit.

As explained more fully in the director's responsibilities statement, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

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.

• We identified the laws and regulations applicable to the company through discussion with directors and our knowledge of the business;

• Performing audit work to address the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments;

• Assessing whether the judgements made in accounting estimates are indicative of a potential bias;

• Enquiring of management as to actual and potential litigation and claims; and

• Making enquires of management as to their knowledge of actual and suspected fraud.

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 is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company's member 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 member those matters we are required to state to the member 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 member, for our audit work, for this report, or for the opinions we have formed.

The profit and loss account has been prepared on the basis that all operations are continuing operations.

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

Sentimental Care Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Horton Cross Nursing Home, Horton Cross, Ilminster, Somerset, TA19 9PT.

The company's business is carried out in 3 locations, Horton Cross Nursing Home, Horton Cross, Ilminster, Somerset, TA19 9PT, Hamilton Park Nursing Home, 6 Hamilton Road, Taunton, Somerset, TA1 2EH and Morgannwg House Care Home, 2 Glamorgan Street, Brecon, LD3 7DW.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

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

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

The directortrue has assessed that it is appropriate for the financial statements to be prepared on a going concern basis on the grounds that current or future sources of funding or support will be adequate for the company to continue in operational existence for the foreseeable future, noting its dependence upon the support of its main lenders, Barclays Bank plc, and its director, T Ellis and the successful outcome of refinancing the Barclays Bank plc loan.

Day to day working capital requirements are met through existing cash and banking facilities, bank loans, and from the support of its director. The company has a term loan with Barclays Bank plc that expired in February 2024 and has a variation for a 3 monthly renewal with interest only being paid.

Since the year end, and up to the date of signing, the properties and assets of Hamilton Park and Morgannwg House have been sold. The net proceeds have been utilised to repay £2,116,949 towards the outstanding capital of the Barclays Bank plc loan. The company is in communication with a broker to refinance the remaining capital of £1,396,317.

Since the year end, and up to the date of signing, room occupancy at Horton Cross has increased and has remained stable, this has resulted in the trading losses sustained by the company being significantly lower than the reported year. The director has an expectation that the results of 2025-2026 will see the company return to profitability.

At the year end the company had in place a payment plan with HM Revenue & Customs to repay some of the arrears of PAYE. Since the year end further repayment plans have been agreed with HMRC, the repayment schedules have been adhered to, and at the date of signing these financial statements two of the payment plans had been completed. The remaining plan for Horton Cross will be repaid in full by May 2026. Payments to HM Revenue & Customs for PAYE for 2025-2026 are being paid monthly and within the normal timeframe allowed.

These actions noted above have resulted in the cash balances being maintained up to the date of signing.

The company has obtained a letter of support from the director, whereby they have provided confirmation of their intention to support the company and to provide additional working capital as required to meet any shortfalls that may arise from variances to the forecast cash flows. The level and timing of the potential cash requirements have been considered by the director, however, they acknowledge that the letter of support is not legally binding and there is no contractual certainty that the director will make available such funding. If the support of the director was required and not forthcoming, the company may not be able to raise additional funding to provide sufficient cash to enable it to meet its liabilities as they fall due.

The director is confident that the refinancing of the Barclays Bank plc loan will be successful as the value of the remaining property, Horton Cross is estimated to be 3 times the amount of the loan required. T Ellis will continue providing the financial support, from the recent and expected future trading results, the director believes that the company has adequate resources to continue in operational existence for the foreseeable future for at least the next twelve months from the date of approval of these Financial Statements.

On the basis of the above, in making assessment of going concern, the director has concluded that the conditionality of the continuing support from Barclays Bank plc, the support of the director, T Ellis, and the successful outcome of refinancing the Barclays Bank plc loan, represent material uncertainties which may cast significant doubt on the company’s ability to continue as a going concern.

Turnover is recognised at the fair value of the consideration received or receivable for the provision of nursing home services in the normal course of business.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from contracts for the provision of professional nursing and care services is recognised by reference to the stage of completion, when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

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

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

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Land and buildings were revalued at 15 May 2023 by Pinders Professional & Consultancy Services Limited, independent valuers not connected with the company on the basis of market value. The valuation conforms to International Valuation Standards and was based on recent market transactions on arm's length terms for similar properties.

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

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

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

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

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

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

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

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

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

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

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

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

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

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

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

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

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

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

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

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

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

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

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

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

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

Life insurance received includes non recurring exceptional amounts received by the company during the year.

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

Their aggregate remuneration comprised:

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 1 (2022 - 1).

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

The unutilised tax losses carried forward at the year end amounted to £1,583,782 (2022: £Nil)

The freehold properties of 8 and 6 Hamilton Road, Taunton,TA1 2EH were sold in February 2025 and the freehold property of Morgannwg House, Glamorgan Street, Brecon, LD3 7DW was sold in June 2025.

Further details can be found in Note 19, Events after the reporting date.

Land and buildings with a carrying amount of £6,250,000 were revalued at 15 May 2023 by Pinders Professional & Consultancy Services Limited, independent valuers not connected with the company on the basis of market value. The valuation conforms to International Valuation Standards and was based on recent market transactions on arm's length terms for similar properties.

Land and buildings are carried at valuation. If land and buildings were measured using the cost model, the carrying amounts would have been approximately £5,086,564 (2022 - £5,086,564), being cost £5,086,564 (2022 - £5,086,564) and depreciation £Nil (2022 - £Nil).

The bank loan was due for repayment by 21 February 2024 and currently attracts interest at 2.65% above base rate.

The bank loan is secured by a fixed and floating charge over all the company’s property and a first legal charge over the company properties known as Hamilton Park Nursing Home, 6 Hamilton Road, Taunton, TA1 2EH, Horton Cross Nursing Home, Horton Cross, Ilminster, TA19 9PT and Morgannwg House, Glamorgan Street, Brecon, LD3 7DW.

In February 2025 the properties known as Hamilton Park Nursing Home, 6 Hamilton Road, Taunton, TA1 2EH and 8 Hamilton Road, Taunton, TA1 2EH together with the fixed and moveable assets were sold. A part repayment of £1,500,000 was made to Barclays Bank plc in accordance with the release letter.

In June 2025 the property known as Morgannwg House, Glamorgan Street, Brecon, LD3 7DW and the fixed and moveable assets were sold. In accordance with the release letter a further repayment of £616,949.60 was made to Barclays Bank plc.

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

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

Contributions totalling £127,820 (2021 - £76,084) were payable to the scheme at the end of the year and are included in creditors.

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

In February 2025 the freehold properties Hamilton Park Nursing Home, 6 Hamilton Road, Taunton, TA1 2EH and 8 Hamilton Road, Taunton, TA1 2EH were sold together with the fixed assets and plant & machinery for £1,650,000.

The property known as Hamilton Park Nursing Home, Taunton, TA1 2EH was valued at £1,450,000 and 6 Hamilton Road, Taunton, TA1 2EH was valued at £325,000 at 30 April 2023.

In June 2025 the freehold property Morgannwg House, Glamorgan Street, Brecon, LD3 7DW was sold together with the plant & machinery for £700,000. The property of Morgannwg House, Glamorgan Street, Brecon, LD3 7DW was valued at £900,000 at 30 April 2023.

The net proceeds were used as a part repayment against the Barclays Bank loan. (See Note 14).

The director's loan account was repaid in full by 28 December 2023 and has remained in credit up to the date of signing the financial statements. The director has confirmed continued financial support to the company.

Following the conclusion of the estate of James Ellis Deceased, it was found that the share capital of the company was 1,001 ordinary shares of £1 each and not 3 ordinary £1 shares as had previously been reported. The solicitors dealing with the estate of James Ellis have resubmitted the confirmation statements at Companies House to reflect the correct number of shares issued.