SALUTEM LD TOPCO II LIMITED

Company number

11217743

Status

Active

Incorporation

2018-02-21

Last accounts made up

2025-03-31

Account category

GROUP

Primary SIC

87200

Hubs

UK Healthcare

Accounting basis

FRS 102

Reporting scope

Consolidated (group)

Auditor

S&W Audit

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The Group's result for the year is a profit before tax of £5,722,000 and at 31 March 2025, the Group had net current assets of £6,887,000 and net assets of £12,651,000. The directors have prepared forecasts for the foreseeable future, being a period of not less than 12 months from the date of approval of these financial statements. These forecasts show profitable growth and the Group operating solvently within agreed loan covenants for the foreseeable future. In addition, all of the Group's bank and mezzanine debt only falls due for repayment in July 2029. Based on the above, and after making reasonable enquiries, the directors have a reasonable expectation that the Company and its subsidiaries (together, the "Group") has adequate resources to continue to trade solvently for the foreseeable future, being a period of not less than 12 months from the date of the authorisation of these financial statements. The directors therefore continue to adopt the going concern basis in preparing these financial statements.”

Subsidiaries

• Salutem LD Midco II Limited · 100% held · Holding company
• Salutem Shared Services III Limited · 100% held · Provision of staffing
• Salutem ED Bidco Limited · 100% held · Dormant
• Salutem LD Acer Debtco II Limited · 100% held · Dormant
• Salutem LD Bidco IV Limited t/a Ambito Care and Education · 100% held · Care & education

Significant events

• “Subsequent to the year end, the Government announced changes to international recruitment rules affecting Skilled Worker visa routes. It is anticipated that this change will have limited impact as the Group has recruited and sponsored international workers where required.”
• “On 4 April 2025, Topco and its subsidiaries drew down the remaining £9,000,000 of the senior term loan facility for which the Group is jointly and severally liable, bearing interest at 3.1% above the Sterling Overnight Index Average (SONIA) and are secured on assets of the Group. The loan is repayable in July 2029 with principal and interest payments payable quarterly.”
• “In April 2025, HMRC issued a briefing paper regarding the VAT treatment of welfare services within VAT groups and its intention to prevent the charging of VAT by care companies. ... Management do not believe the change in policy will result in any liabilities to the Group for historic transactions ... Should the existing VAT grouping structure need to be unwound in the future, this will be done in an orderly, prospective manner. While this may impact the Group's ability to recover VAT on certain costs in future trading periods, it is not expected to lead to any material cost falling on the Group.”

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