7 Financial and geographic growth and ongoing diversification are the stand-out trends of the year to 31 March 2016. During the period we increased annual Group turnover from £33m to £61m and we are on course to exceed £73m by 2017. Our net assets at year-end stood at £1.4m and we increased headcount in the period from 610 to an average of 1,230, which included 184 nurses and 94 salaried doctors. Overall, we reflect positively on our financial and operational performance, which has been achieved within a challenging environment. Highlights of the year include the indemnity deal we struck with Locktons, moving to larger premises and our expansion into London for the first time. Our strong financial performance now reflects the more diverse nature of our business. Throughout the year we added new services - with a collective annualised turnover of £42m - in the West Midlands, Wolverhampton and London. This year also saw us convert from trading as a Community Benefit Society to a Limited Company, in preparation for a round of investment to secure further growth. We are not only financially well placed for additional expansion but crucially are now highly experienced in the effective mobilisation and operation of new contracts across a wide range of services. Our Executive Committee continues to closely monitor key performance indicators for the Group as a whole and specifically against each contract. Our KPIs include quality of patient care, retention of key personnel, internal governance, contract commerciality and relationships with patients and commissioners. We are pleased to report that the group was successful in achieving these KPIs during our last financial year. We are confident of further growth and diversification in 2016/17 and believe we are well prepared for the challenges ahead. Director’s Report Year ended 31 March 2016 - By Ian Craggs, Finance Director, Vocare