Poc Investments Ltd

Fair review of the business The group's primary activity is the delivery of residential, supported living and respite care within the local community. It also owns a portfolio of rental properties which are let to supported living clients. The group has continued to grow it's market share within the care sector. There has been further investment in property during the year, developing residential homes for client's with physical and/or mental disabilities to facilitate independent living. The group has continued it's focus on staff training to ensure that the best level of care is provided, as safely as possible for both staff and clients. The group has seen an increase in turnover for the year of 8.5% due to its increased capacity which is further reflected in the increased profitability. The results on page 10 show that the profit before tax was £1,533,253 (2022: £823,837). In the year, the Group has received grants and government funding of £409,999 (2022: £201,999) to mitigate the increased costs incurred as a result of the COVID19 pandemic and to finance the Welsh Government carer bonus scheme. Principal risks and uncertainties The process of risk acceptance and risk management is addressed through a framework of policies, procedures and internal controls. All policies are subject to approval and ongoing review, by management and risk management. Regulatory compliance Compliance with regulation, legal and ethical standards is a high priority for the Group and the management team have an important oversight role in this regard. People we support The principal risks and uncertainties associated with the Group include occupancy levels and the continuing need to monitor and maintain quality of service for the people we support and care for. Economic risk As a provider of specialist healthcare services, the Group is affected by the policies of the current and future governments. The Board incorporates any changes in government policy into its strategy to assess ways to mitigate risks and develop opportunities that may arise. There is currently uncertainty around impact of tax cuts an public services. The labour market issues have impacted staff recruitment and the directors will monitor developments closely and formulate plans to address the risks accordingly. Pandemic risk The Group has followed government advice in the provision of care throughout the COVID19 pandemic. Although the COVID19 risk has had far less impact in the year, the experience gained has shaped policies to hopefully reduce the impact of any future pandemic.