Company registration number SC411208 (Scotland)
ASHGILL CARE HOME LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
ASHGILL CARE HOME LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2
Notes to the financial statements
3 - 8
ASHGILL CARE HOME LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mrs Z B Logendra
Mr R I Logendra
Company number
SC411208
Registered office
C/O Consilium Chartered Accountants
169 West George Street
Glasgow
United Kingdom
G2 2LB
Accountants
Consilium Chartered Accountants
169 West George Street
Glasgow
Scotland
G2 2LB
Business address
33 Liddesdale Square
Glasgow
G22 7BU
ASHGILL CARE HOME LIMITED
BALANCE SHEET
AS AT
30 APRIL 2023
30 April 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
80,264
80,786
Current assets
Debtors
5
271,588
238,425
Cash at bank and in hand
107,742
358,511
379,330
596,936
Creditors: amounts falling due within one year
6
(202,361)
(425,953)
Net current assets
176,969
170,983
Total assets less current liabilities
257,233
251,769
Provisions for liabilities
7
(17,975)
(17,011)
Net assets
239,258
234,758
Capital and reserves
Called up share capital
9
100
100
Profit and loss reserves
239,158
234,658
Total equity
239,258
234,758

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 1 February 2024 and are signed on its behalf by:
Mr R I Logendra
Director
Company Registration No. SC411208
ASHGILL CARE HOME LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
- 3 -
1
Accounting policies
Company information

Ashgill Care Home Limited is a private company limited by shares incorporated in Scotland. The registered office is C/O Consilium Chartered Accountants, 169 West George Street, Glasgow, United Kingdom, G2 2LB. The principal place of business is 33 Liddesdale Square, Glasgow, G22 7BU. The company's registration number is SC411208.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

The turnover shown in the profit and loss account represents the value of all services delivered at selling price during the year. Sales are recognised at the point at which the company has fulfilled its contractual obligations to the customer.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

 

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold Improvements
Over the term of the lease
Equipment and fittings
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the profit and loss account.

ASHGILL CARE HOME LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
1
Accounting policies
(Continued)
- 4 -
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

ASHGILL CARE HOME LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
1
Accounting policies
(Continued)
- 5 -
1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to the profit and loss account on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.13
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

1.14
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in the profit and loss account.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Total
77
84
ASHGILL CARE HOME LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 6 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 May 2022 and 30 April 2023
255,014
Amortisation and impairment
At 1 May 2022 and 30 April 2023
255,014
Carrying amount
At 30 April 2023
-
0
At 30 April 2022
-
0
4
Tangible fixed assets
Leasehold Improvements
Equipment and fittings
Total
£
£
£
Cost
At 1 May 2022
25,767
306,475
332,242
Additions
-
0
22,379
22,379
At 30 April 2023
25,767
328,854
354,621
Depreciation
At 1 May 2022
15,234
236,222
251,456
Depreciation charged in the year
1,718
21,183
22,901
At 30 April 2023
16,952
257,405
274,357
Carrying amount
At 30 April 2023
8,815
71,449
80,264
At 30 April 2022
10,533
70,253
80,786
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
212,599
178,155
Other debtors
58,989
60,270
271,588
238,425
ASHGILL CARE HOME LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 7 -
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
73,590
78,918
Taxation and social security
10,355
44,608
Other creditors
118,416
302,427
202,361
425,953
7
Provisions for liabilities
2023
2022
£
£
Deferred tax liabilities
8
17,975
17,011
8
Deferred taxation

The following are the major deferred tax liabilities recognised by the company and movements thereon:

2023
2022
Balances:
£
£
Accelerated capital allowances
17,975
17,011
2023
Movements in the year:
£
Liability at 1 May 2022
17,011
Charge to profit or loss
964
Liability at 30 April 2023
17,975

 

ASHGILL CARE HOME LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 8 -
9
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
49 Ordinary shares of £1 each
49
49
51 Ordinary A shares of £1 each
51
51
100
100

All classes of shares are entitled to attend and vote at general meetings.

 

All classes of shares are entitled to receive dividends as may be declared by the company. The dividends declared may differ for each class of shareholding.

 

All classes of shares are entitled to a share of the assets in the event of a winding up of the company in proportion to the shareholdings.

10
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
915,000
1,095,000
11
Related party transactions

During the year the company paid rent of £180,000 (2022 - £210,000) to a company controlled by Mr R I Logendra, director.

 

No further transactions with related parties were undertaken such as are required to be disclosed under the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

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