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Registered number: 13770201










ARTISAN CARE GROUP LIMITED (PREVIOUSLY KNOWN AS AVERY LEASHOLD COMPANY LIMITED)










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2023

 
ARTISAN CARE GROUP LIMITED (PREVIOUSLY KNOWN AS AVERY LEASHOLD COMPANY LIMITED)
REGISTERED NUMBER: 13770201

BALANCE SHEET
AS AT 31 MARCH 2023

2023
Note
£

Fixed assets
  

Intangible assets
 4 
11,710

Tangible assets
 5 
266,689

Investments
 6 
2

  
278,401

Current assets
  

Debtors: amounts falling due within one year
 7 
651,779

Cash at bank and in hand
 8 
266,114

  
917,893

Creditors: amounts falling due within one year
 9 
(258,493)

Net current assets
  
 
 
659,400

Total assets less current liabilities
  
937,801

Creditors: amounts falling due after more than one year
 10 
(1,095,581)

  

Net (liabilities)/assets
  
(157,780)


Capital and reserves
  

Called up share capital 
 13 
1,000

Profit and loss account
 14 
(158,780)

  
(157,780)


Page 1

 
ARTISAN CARE GROUP LIMITED (PREVIOUSLY KNOWN AS AVERY LEASHOLD COMPANY LIMITED)
REGISTERED NUMBER: 13770201
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
M F Proctor
Director

Date: 27 November 2023

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
ARTISAN CARE GROUP LIMITED (PREVIOUSLY KNOWN AS AVERY LEASHOLD COMPANY LIMITED)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

1.


General information

Artisan Care Group Limited is a private company limited by shares incorporated in England and Wales. The principal place of business and the registered address is Little Houghton House, Bedford Road, Little Houghton, Northampton, England, NN7 1AB.
The principal activity is that of a holding company. 
This is the first set of accounts the Company has prepared and covers a period of 16 months, from 29 November 2021 to 31 March 2023.
The Company's functional and presentational currency is GBP. All figures are rounded to the nearest whole number.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The Company is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of any part of the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 400 of the Companies Act 2006.

 
2.3

Going concern

At the time of approving the financial statements the Directors have reasonable expectation that the Company can continue in operational existence for the forseeable future. The Company is reliant on support of the parent Company and has its continued support, thus the Directors continue to adopt the going concern basis of accounting in preparing the financial statements. 

Page 3

 
ARTISAN CARE GROUP LIMITED (PREVIOUSLY KNOWN AS AVERY LEASHOLD COMPANY LIMITED)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 4

 
ARTISAN CARE GROUP LIMITED (PREVIOUSLY KNOWN AS AVERY LEASHOLD COMPANY LIMITED)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
4 years
Fixtures and fittings
-
6 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
ARTISAN CARE GROUP LIMITED (PREVIOUSLY KNOWN AS AVERY LEASHOLD COMPANY LIMITED)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.13

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including directors, during the period was 2.


4.


Intangible assets



Computer software

£



Cost


Additions
12,180



At 31 March 2023

12,180



Amortisation


Charge for the period on owned assets
470



At 31 March 2023

470



Net book value



At 31 March 2023
11,710



Page 6

 
ARTISAN CARE GROUP LIMITED (PREVIOUSLY KNOWN AS AVERY LEASHOLD COMPANY LIMITED)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

5.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Total

£
£
£



Cost 


Additions
259,965
7,394
267,359



At 31 March 2023

259,965
7,394
267,359



Depreciation


Charge for the period on owned assets
-
670
670



At 31 March 2023

-
670
670



Net book value



At 31 March 2023
259,965
6,724
266,689


6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


Additions
3


Disposals
(1)



At 31 March 2023
2




Page 7

 
ARTISAN CARE GROUP LIMITED (PREVIOUSLY KNOWN AS AVERY LEASHOLD COMPANY LIMITED)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

7.


Debtors

2023
£


Amounts owed by group undertakings
624,479

Prepayments and accrued income
27,300

651,779



8.


Cash and cash equivalents

2023
£

Cash at bank and in hand
266,114



9.


Creditors: Amounts falling due within one year

2023
£

Amounts owed to group undertakings
240,802

Obligations under finance lease and hire purchase contracts
17,689

Other creditors
2

258,493



10.


Creditors: Amounts falling due after more than one year

2023
£

Other loans
900,000

Net obligations under finance leases and hire purchase contracts
195,581

1,095,581


Page 8

 
ARTISAN CARE GROUP LIMITED (PREVIOUSLY KNOWN AS AVERY LEASHOLD COMPANY LIMITED)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

11.


Loans


Analysis of the maturity of loans is given below:


2023
£




Amounts falling due after more than 5 years

Shareholder loans
900,000



12.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
£


Within one year
17,689

Between 1-5 years
195,581

213,270

The hire purchase agreement is secured over the asset. 


13.


Share capital

2023
£
Allotted, called up and fully paid


1,000 Ordinary shares of £1.00 each
1,000


At incorporation, 1,000 ordinary shares were issued with a nominal value of £1 each. 


14.


Reserves

Profit and loss account

Represents accumulated profit and losses since incorporation. 

Page 9

 
ARTISAN CARE GROUP LIMITED (PREVIOUSLY KNOWN AS AVERY LEASHOLD COMPANY LIMITED)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

15.


Pension commitments

The Company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.
No amount is payable to the fund at the year end date.


16.


Related party transactions

At the year end there is a loan balance of £72,000 from Beech Healthcare Limited. This loan is interest free and is repayable on 20 August 2031.
At the year end there is a loan balance of £90,000 from Coombegrove Limited. This loan is interest free and is repayable on 20 August 2031.
At the year end there is a loan balance of £738,000 from Xanadu Investments Limited. This loan is interest free and is repayable of 20 August 2031. 


17.


Controlling party

The ultimate controlling party is J M B Strowbridge by virtue of his majority shareholding in Xanadu Investments Limited.
The immediate controlling party is Xanadu Investments Limited, a company registered in England & Wales.
The Company's results are included in the consolidated financial statements of Xanadu Investments Limited which are publicly available at Companies House, or from the registered office. 


18.


Auditors' information

The auditors' report on the financial statements for the period ended 31 March 2023 was unqualified.

The audit report was signed on 27 November 2023 by Adam Young ACA (Senior Statutory Auditor) on behalf of MHA.

 
Page 10