NELLSAR LIMITED

Company number

03801034

Status

Active

Incorporation

1999-07-06

Last accounts made up

2024-10-31

Account category

GROUP

Primary SIC

87900

Hubs

UK Healthcare

Accounting basis

FRS 102

Reporting scope

Consolidated (group)

Auditor

Affinia (Orpington)

Audit opinion

Qualified

Going concern

Affirmed

“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 and 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. The Directors have reviewed the going concern of the Group and the Company carefully in the preparation of these financial statements. In order to prepare the financial statements on a going concern basis, the Directors have considered detailed financial projections for a period through 12 months from the date of signing the financial statements. These projections are based on the Group's detailed forecasts. By their very nature, forecasts and projections are inherently uncertain, however, the prepared forecasts show that the Group will operate well within its committed facilities for that period. The Directors have prepared detailed cash flow forecasts for the Group for the period to 31st October 2025. Net debt levels, servicing costs and working capital requirements are closely monitored and managed in accordance to the Group's objectives, policies and processes, and these have each been considered as part of these forecasts. Based on the Group's forecasts and projections and taking into account reasonable possible changes in trading performance as mentioned above, the Directors have a reasonable expectation that the Group and the Company will have adequate resources to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements. Thus, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.”

Subsidiaries

• Mardiquest Limited · 100% held · England and Wales · Dormant
• PQW Brenley Corner Limited · 100% held · England and Wales · Care Home Operations

Significant events

• “The group is subject to an ongoing tax enquiry in respect of corporation tax relief claimed on the recognition and amortisation of goodwill following the acquisition of several care home businesses between 2004 and 2007. HMRC successfully challenged this deduction in a first tier tribunal, with Nellsar appealing this decision to the upper tier tribunal. The upper tier tribunal was held in March 2025, with the decision being upheld in favour of HMRC. Nellsar have taken the decision not to further appeal this judgement, and the case has been referred to the land chamber to determine the market value of the properties acquired in the acquisition events. Accordingly, it is anticipated that the value of properties and goodwill in each transaction will be adjusted, however, the outcome of this is currently undetermined.”

Auditor / going-concern / subsidiary information is extracted from the PDF version of the latest annual accounts and is not tagged in iXBRL. About these numbers