Axelbond Limited

Principal Activities The principal activity of the company is the operation of nursing and residential homes. Business Review During the financial year, the company has continued to focus on maintaining occupancy levels and improving the standard of care offered to residents. The main key performance indicators which are used by management to monitor performance on a daily, weekly and monthly basis are occupancy levels and staff costs. The directors have assessed working capital requirements and capital expenditure over the next twelve months and are confident that the company has secured sufficient financial resources. As a consequence, the directors believe that the company is well placed to manage its business risks successfully despite the current economic climate. Future Developments The directors are continually looking for opportunities to expand either through organic growth or acquisitions. Financial risk management objectives and policies The Director believes we will continue to develop and grow the business in the face of industry-wide issues such as increased operating costs, regulatory requirements, mandated staff training, and an increasing discrepancy between local authority funding and the cost of care. The organisation is controlling these expenditures through rigorous planning and cost-cutting strategies, while remaining committed to providing excellent services. The directors consider the main risks arising from the company's financial instruments to be interest rate risk and liquidity risk and therefore set and review policies for managing these risks as below.These policies have remained unchanged from previous years. Interest Rate Risk The company finances its operations through a combination of retained earnings and bank loans. Liquidity Risk The company seeks to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs and to invest cash assets safely. The directors continually seek means by which the operating costs of the company can be reduced and the profitability increased. Fixed Assets The movement in the company's fixed assets is set out in notes 13. Supplier Payment Policy The company's policy is to pay amounts as they fall due on confirmation of goods and services provided.