SALUTEM LD TOPCO II LIMITED

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.”

Group structure

1. SALUTEM LD TOPCO II LIMITED · parent
   1. Salutem LD Midco II Limited 100% · Holding company
   2. Salutem Shared Services III Limited 100% · Provision of staffing
   3. Salutem ED Bidco Limited 100% · Dormant
   4. Salutem LD Acer Debtco II Limited 100% · Dormant
   5. Salutem LD Bidco IV Limited t/a Ambito Care and Education 100% · 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 and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

2

last 12 months

Capital events

2

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.