Regulation 25 Financial position
The registered provider shall carry on the care home in such manner as is likely to ensure that the care home will be financially viable for the purpose of achieving the aims and objectives set out in the statement of purpose.
The registered person shall, if the Commission so requests, provide the Commission with such information and documents as it may require for the purpose of considering the financial viability of the care home, including—
the annual accounts of the care home certified by an accountant;
a reference from a bank expressing an opinion as to the registered provider’s financial standing;
information as to the financing and financial resources of the care home;
where the registered provider is a company, information as to any of its associated companies;
a certificate of insurance for the registered provider in respect of liability which may be incurred by him in relation to the care home in respect of death, injury, public liability, damage or other loss.
The registered person shall—
ensure that adequate accounts are maintained in respect of the care home and kept up to date;
ensure that the accounts give details of the running costs of the care home, including rent, payments under a mortgage and expenditure on food, heating and salaries and wages of staff; and
supply a copy of the accounts to the Commission at its request.
In this regulation a company is an associated company of another if one of them has control of the other or both are under the control of the same person.