SALUTEM LD TOPCO LIMITED
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Cash
£4.8M
+34.9% vs 2024
Net assets
-£29M
-11.7% vs 2024
Employees
1,520
+1% vs 2024
Profit before tax
-£2.9M
+29.7% vs 2024
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Negative shareholders' funds
Net assets
2-year trend · vs Health Care median
Accounts
2-year trend · Δ = latest vs prior filed period · latest reflected 2025-03-31
| Metric | Trend | 2024-03-31 | 2025-03-31 | Δ vs prior |
|---|---|---|---|---|
| Turnover | £58,369,000 | £61,267,000 | +5% | |
| Operating profit | £1,257,000 | £3,159,000 | +151.3% | |
| Profit before tax | -£4,182,000 | -£2,942,000 | +29.7% | |
| Net profit | -£4,125,000 | -£3,024,000 | +26.7% | |
| Cash | £3,582,000 | £4,832,000 | +34.9% | |
| Total assets less current liabilities | £33,139,000 | £36,327,000 | +9.6% | |
| Net assets | -£25,777,000 | -£28,801,000 | -11.7% | |
| Equity | -£25,777,000 | -£28,801,000 | -11.7% | |
| Average employees | 1,505 | 1,520 | +1% | |
| Wages | £34,361,000 | £38,789,000 | +12.9% | |
| Directors' remuneration | £322,000 | £378,000 | +17.4% |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2024-03-31 | 2025-03-31 |
|---|---|---|---|
| Operating margin | 2.2% | 5.2% | |
| Net margin | -7.1% | -4.9% | |
| Return on capital employed | 3.8% | 8.7% | |
| Gearing (liabilities / total assets) | 145.1% | 154.7% | |
| Current ratio | 0.45x | 0.82x | |
| Interest cover | 0.23x | 0.52x |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Consolidated group
- Auditor
- S&W Audit
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The auditors concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. No material uncertainties were identified that may cast significant doubt on the group'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.”
Group structure
- SALUTEM LD TOPCO LIMITED · parent
- Salutem LD Midco I Limited** 100%
- Salutem Shared Services Limited* 100%
- Salutem Shared Services II Limited* 100%
- Pathways Care Group Limited* 100%
- Pathways Daycare Limited* 100%
- Newlife Care Services Limited* 100%
- Pathways 4 Care Ltd* 100%
- Modus Care Limited* 100%
- Clearwater Care (Hackney) Limited* 100%
- Amity Residential Care Limited* 100%
- Clearwater Specialist Care Group Limited** 100%
- Clearwater Specialist Care Partners Limited** 100%
- Clearwater Specialist Care Enterprise Limited** 100%
- Clearwater Care (Group) Limited** 100%
- Modus Care (Plymouth) Limited** 100%
- Swan Village Care Services Limited** 100%
- Minster Pathways (Colchester) Limited** 100%
- Hardriding House Limited** 100%
- Newlife Care Services (Holding Co) Limited** 100%
- TLCare UK Ltd** 100%
- Greenfield Close Residential Home Limited** 100%
- Salutem Acer Debtco I Limited** 100%
- Salutem LD Bidco Limited* 100%
- Salutem LD Bidco II Limited* 100%
- Salutem LD Bidco III Limited** 100%
Significant events
- “On 4 April 2025, the Group drew down the remaining £9,000,000 of the senior term loan facility, bearing interest at 3.1% above SONIA and secured on assets of the Group. The proceeds were used to repay £9,000,000 of the existing Mezzanine debt on 9 April 2025.”
- “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.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 3 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| GODDEN, John Steven | Director | 2017-03-04 | Jun 1965 | British |
| HILLEN, Kenneth James Gribben | Director | 2017-04-21 | May 1956 | British |
| LAWES, Paul Raymond | Director | 2018-01-04 | Nov 1973 | British |
Show 3 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| JACKSON, David | Director | 2017-04-21 | 2017-11-30 |
| MORLEY, Ian Bertrand | Director | 2017-04-21 | 2019-04-29 |
| TRAVERS, Steven David | Director | 2017-04-21 | 2018-04-20 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Salutem Healthcare Limited | Corporate entity | Appoints directors | 2020-03-12 | Ceased 2022-02-15 |
| Ms Michele Lodge | Individual | Shares 25–50% (as trust) | 2017-04-21 | Ceased 2020-03-12 |
| Mr Jacques Giacomo Diwan | Individual | Shares 25–50% (as trust) | 2017-04-21 | Ceased 2020-03-12 |
| Mr Dan Quai | Individual | Shares 25–50% (as trust) | 2017-04-21 | Ceased 2020-03-12 |
| Salutem Healthcare Limited | Corporate entity | Shares 75–100% (as firm), Voting 75–100% (as firm), Appoints directors (as firm), Significant influence (as firm) | 2017-03-04 | Ceased 2017-04-21 |
Filing timeline
Last 20 of 72 total filings
Material constitutional events — rename, articles re-file, resolution
- 2024-07-30 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-03-10 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-09-08 | AA | accounts | Accounts with accounts type group | |
| 2025-03-11 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-10-28 | AA | accounts | Accounts with accounts type group | |
| 2024-08-01 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2024-08-01 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2024-07-30 | RESOLUTIONS | resolution | Resolution | |
| 2024-07-24 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2024-07-24 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2024-04-12 | AA | accounts | Accounts with accounts type group | |
| 2024-03-15 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-09-28 | AA | accounts | Accounts with accounts type group | |
| 2023-06-27 | AA01 | accounts | Change account reference date company previous shortened | |
| 2023-03-27 | AA01 | accounts | Change account reference date company previous shortened | |
| 2023-03-03 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-11-29 | AA | accounts | Accounts with accounts type group | |
| 2022-06-09 | SH06 | capital | Capital cancellation shares | |
| 2022-06-09 | SH03 | capital | Capital return purchase own shares | |
| 2022-03-17 | SH06 | capital | Capital cancellation shares | |
| 2022-03-15 | CS01 | confirmation-statement | Confirmation statement with updates |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 2
- Capital events
- 0
- Officers appointed
- 0
- Officers resigned
- 0
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.