HC-One 2022/23 Annual Report and Financial Statements

This Annual Report summarises HC-One’s October 2022 to September 2023 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 small 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 their financial statements with Companies House.

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 excellent progress on delivering our strategy and, with the support of our shareholders, are investing at scale into our workforce and our vital state-funded services.   

This year we have been proud to continue to significantly invest in our colleagues, including through a £32.5 million investment in pay, which raised the rate of our lowest paid colleagues by almost 10% and brought over 80% of our workforce to Real Living Wage or above, with all care colleagues able to earn the Real Living Wage after two years of service. Our investments in colleague pay, training, and career development have significantly reduced our turnover rates to levels well ahead of the sector average.

Our £93 million refurbishment programme continues, and represents the largest care home upgrade programme in the NHS and Local Authority funded care home sector in the UK. This programme will ensure that our residents and colleagues can live and work in more specialised, comfortable homes, better fit for the future of care. We are also investing in our new build programme, which is bringing a new generation of innovative, sustainable and purpose-built homes to the sector.   

The advances made in colleague pay, our service offerings, and the extensive upgrades to the homes themselves, support our continuing objective of always enhancing the quality of care our residents receive.

Despite the pressures facing the whole sector, including sustained pressure on publicly funded fees, 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.