Company registration number: 04756773
Unaudited financial statements
for the year ended 31 May 2023
for
Ashley Care Homes Limited
Pages for filing with the Registrar
Company registration number: 04756773
Ashley Care Homes Limited
Balance sheet
as at 31 May 2023
31 May 23 31 May 22
Note £ £ £ £
Fixed assets
Tangible assets 4 2,997,205 2,456,782
Investments 5 2,145,600 2,145,600
5,142,805 4,602,382
Current assets
Stocks 527 500
Debtors 2,990,336 3,366,830
Cash at bank and in hand 40,924 13,555
3,031,787 3,380,885
Creditors: amounts falling due within
one year
(3,994,226) (3,010,156)
Net current (liabilities)/assets (962,439) 370,729
Total assets less current liabilities 4,180,366 4,973,111
Creditors: Amounts falling due after
more than one year
6 (3,468,953) (4,339,039)
Provisions for liabilities (149,506) (43,444)
NET ASSETS 561,907 590,628
Capital and reserves
Called up share capital 1,001 1,001
Revaluation reserve 931,715 343,493
Profit and loss account (370,809) 246,134
TOTAL EQUITY 561,907 590,628
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 31 May 2023.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
1
Company registration number: 04756773
Ashley Care Homes Limited
Balance sheet - continued
as at 31 May 2023
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered to the Registrar.
These financial statements were approved by the Board of directors and authorised for issue on 5 August 2024 and signed on its behalf by:
Mrs A George, Director Mr A George, Director
5 August 2024 5 August 2024
2
Ashley Care Homes Limited
Notes to the financial statements
for the year ended 31 May 2023
1 Company information
The company is registered in England and Wales. Its registered number is 04756773. The company is limited by shares. Its registered office is 14 West Parade, Norwich, NR2 3DW.
2 Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” including the provisions of Section 1A “Small Entities” and the Companies Act 2006. The financial statements have been prepared under the historic cost convention.
Going concern
In preparing these financial statements, the directors have assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the directors take into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The directors consider that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold land and buildings:
Freehold property - 1% straight line
Plant and machinery etc.:
Plant and machinery - 25% straight line
Fixtures & fittings - 25% straight line
Motor vehicles - 25% reducing balance
Computer equipment - 25% straight line
Investments in subsidiaries
Investments in subsidiaries are recognised at cost.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
3
Ashley Care Homes Limited
Notes to the financial statements - continued
for the year ended 31 May 2023
2 Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred taxation. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that been enacted or substantively enacted by the balance sheet date and that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probably that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit and loss in the period to which they relate.
3 Average number of employees
During the year the average number of employees was 31 (2022 - 33).
4 Tangible fixed assets
Freehold
land and
buildings
Plant and
machinery
etc.
Totals
£ £ £
Cost
At 1 June 2022 2,430,000 220,773 2,650,773
Revaluations 570,000 - 570,000
At 31 May 2023 3,000,000 220,773 3,220,773
4
Ashley Care Homes Limited
Notes to the financial statements - continued
for the year ended 31 May 2023
4 Tangible fixed assets - continued
Depreciation
At 1 June 2022 18,222 175,769 193,991
Charge for year 30,000 17,799 47,799
Revaluation adjustments (18,222) - (18,222)
At 31 May 2023 30,000 193,568 223,568
Net book value
At 31 May 2023 2,970,000 27,205 2,997,205
At 31 May 2022 2,411,778 45,004 2,456,782
If Freehold property known as Fairland House care home had not been revalued, it would have been included at the following historical cost:
31 May 23 31 May 22
£ £
Cost 2,026,056 -
Accumulated depreciation 30,000 -
The freehold land and buildings known as Fairland House care home with a carrying amount of £2,411,778 were revalued on 25.05.2023 by Knight Frank LLP, independent valuers not connected with the company on the basis of market value.

The valuation conforms to international Valuation Standards and was based on recent market transactio
5 Fixed asset investments
Investments other than loans
Shares in
group
undertakings
and
participating
interests
£
Cost
At 1 June 2022 2,145,600
At 31 May 2023 2,145,600
Net book value
At 31 May 2023 2,145,600
At 31 May 2022 2,145,600
5
Ashley Care Homes Limited
Notes to the financial statements - continued
for the year ended 31 May 2023
6 Creditors: amounts falling due after more than five years
31 May 23 31 May 22
£ £
Repayable otherwise than by instalments
Bank loans 3,468,953 4,328,854
3,468,953 4,328,854
7 Advances, credit and guarantees granted to directors
The following advances and credits to directors subsisted during the periods ended 31 May 2023 and 31 May 2022.
31 May 23 31 May 22
£ £
Mrs Anna George
Balance outstanding at start of year 200,000 200,000
Amounts advanced 166,938 -
Amounts repaid (366,938) -
Balance outstanding at end of year - 200,000
31 May 23 31 May 22
£ £
Mr Ashley Oliver George
Balance outstanding at start of year 156,375 188,701
Amounts advanced 166,938 272,874
Amounts repaid (280,709) (305,200)
Balance outstanding at end of year 42,604 156,375
6