HC-One 2023/24 Annual Report and Financial Statements

This Annual Report summarises HC-One’s October 2023 to September 2024 performance and includes every corporate entity in the UK and internationally.

We are HC-One and our group holding company is listed at Companies House as ‘HC-One TopCo Limited’. The Annual Report and Financial Statements for HC-One TopCo Limited (the ultimate holding company) are available from Companies House and from the link below and set out the full financial position of our business (the “Group”).  The various companies within our Group own, and in a limited number of cases lease from third party landlords, and operate care homes across England, Scotland and Wales. 

Every company within the Group, whether in the UK or offshore, pays full UK tax and files all their financial statements with Companies House under UK GAAP.

CEO Statement 

At HC-One, our purpose is to support those in our care to lead their best life. Our accounts demonstrate that we continue to make exceptional progress on delivering our strategy, and we are focused on building on this even further during FY25.

We closed our financial year 2024 with our strongest occupancy to date, and strongest external quality performance ratings to date, both of which were ahead of sector performance. Our colleague retention rate has also improved, also to levels ahead of the sector average.

This progress has been, and continues to be, supported by the meaningful investments that we have made in our colleagues, our homes and our digital transformation journey, with the support of our shareholders.

In FY24, we proudly invested £39m in colleague pay, bringing almost 90% of our colleagues to the Real Living Wage or above, with all able to earn the Real Living Wage after two years of service. Meanwhile, our £93 million refurbishment programme represents the largest care home upgrade programme in the NHS and Local Authority funded care home sector. Our investment in our digital capabilities -including our new event reporting and quality assurance system, and new digital care planning system – is truly enhancing how we care for and support residents. By overlaying our data and digital capabilities with our leadership and culture of kindness, we are able to deliver ever more quality care at scale.

Despite the pressures facing the whole sector, we remain fully funded and are continuing to invest in initiatives that are directly addressing some of the biggest challenges facing care providers. As such, we are confident in continuing to progress our mission of being the first choice for those we care for, their families, colleagues and commissioners in the communities we serve.