Ashbourne Group Limited 2994316 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is the provision of agency and recruitment services in the field of nursing for mentally infirm patients and the assignment of nurses to hospitals. Digita Accounts Production Advanced 6.30.9574.0 true true 2994316 2023-01-01 2023-12-31 2994316 2023-12-31 2994316 bus:Director1 1 2023-12-31 2994316 bus:Director2 1 2023-12-31 2994316 bus:OrdinaryShareClass1 2023-12-31 2994316 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-12-31 2994316 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-12-31 2994316 core:CurrentFinancialInstruments 2023-12-31 2994316 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 2994316 core:Non-currentFinancialInstruments 2023-12-31 2994316 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 2994316 core:AdditionsToInvestments 2023-12-31 2994316 core:CostValuation 2023-12-31 2994316 core:FurnitureFittingsToolsEquipment 2023-12-31 2994316 core:MotorVehicles 2023-12-31 2994316 bus:SmallEntities 2023-01-01 2023-12-31 2994316 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 2994316 bus:FilletedAccounts 2023-01-01 2023-12-31 2994316 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 2994316 bus:RegisteredOffice 2023-01-01 2023-12-31 2994316 bus:Director1 2023-01-01 2023-12-31 2994316 bus:Director1 1 2023-01-01 2023-12-31 2994316 bus:Director2 2023-01-01 2023-12-31 2994316 bus:Director2 1 2023-01-01 2023-12-31 2994316 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 2994316 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 2994316 core:ComputerEquipment 2023-01-01 2023-12-31 2994316 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 2994316 core:MotorVehicles 2023-01-01 2023-12-31 2994316 countries:AllCountries 2023-01-01 2023-12-31 2994316 2022-12-31 2994316 bus:Director1 1 2022-12-31 2994316 bus:Director2 1 2022-12-31 2994316 core:CostValuation 2022-12-31 2994316 core:FurnitureFittingsToolsEquipment 2022-12-31 2994316 core:MotorVehicles 2022-12-31 2994316 2022-01-01 2022-12-31 2994316 2022-12-31 2994316 bus:Director1 1 2022-12-31 2994316 bus:Director2 1 2022-12-31 2994316 bus:OrdinaryShareClass1 2022-12-31 2994316 core:HirePurchaseContracts core:CurrentFinancialInstruments 2022-12-31 2994316 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2022-12-31 2994316 core:CurrentFinancialInstruments 2022-12-31 2994316 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 2994316 core:CurrentFinancialInstruments core:WithinOneYear core:PreviouslyStatedAmount 2022-12-31 2994316 core:Non-currentFinancialInstruments 2022-12-31 2994316 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 2994316 core:FurnitureFittingsToolsEquipment 2022-12-31 2994316 core:MotorVehicles 2022-12-31 2994316 core:PreviouslyStatedAmount 2022-12-31 2994316 bus:Director1 1 2022-01-01 2022-12-31 2994316 bus:Director2 1 2022-01-01 2022-12-31 2994316 bus:Director1 1 2021-12-31 2994316 bus:Director2 1 2021-12-31 iso4217:GBP xbrli:pure xbrli:shares

Ashbourne Group Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

Registration number: 2994316

 

Ashbourne Group Limited

Contents

Statement of financial position

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

Ashbourne Group Limited

(Registration number: 2994316)
Statement of financial position as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

133,940

63,703

Investments

5

221,770

127,000

 

355,710

190,703

Current assets

 

Debtors

6

3,841,352

3,655,431

Cash at bank and in hand

 

440,272

321,257

 

4,281,624

3,976,688

Creditors: Amounts falling due within one year

7

(727,127)

(453,429)

Net current assets

 

3,554,497

3,523,259

Total assets less current liabilities

 

3,910,207

3,713,962

Creditors: Amounts falling due after more than one year

7

(745,375)

(747,418)

Provisions for liabilities

(25,449)

(12,103)

Net assets

 

3,139,383

2,954,441

Capital and reserves

 

Called up share capital

8

1,000

1,000

Retained earnings

3,138,383

2,953,441

Shareholders' funds

 

3,139,383

2,954,441

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

 

Ashbourne Group Limited

(Registration number: 2994316)
Statement of financial position as at 31 December 2023

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income statement.

Approved and authorised by the Board on 23 August 2024 and signed on its behalf by:
 

.........................................
Miss S Shoai-Naini
Director

 

Ashbourne Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
10 Clive Avenue
Goring by Sea
West Sussex
BN12 4SG

These financial statements were authorised for issue by the Board on 23 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Group accounts not prepared

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Ashbourne Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings & equipment

10%-25% straight line method per annum

Computer equipment

33.33% straight line method per annum

Motor vehicles

25% on reducing balance

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Ashbourne Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the income statement and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 135 (2022 - 135).

 

Ashbourne Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

36,745

116,397

153,142

Additions

-

132,655

132,655

Disposals

-

(109,199)

(109,199)

At 31 December 2023

36,745

139,853

176,598

Depreciation

At 1 January 2023

34,466

54,973

89,439

Charge for the year

994

-

994

Eliminated on disposal

-

(47,775)

(47,775)

At 31 December 2023

35,460

7,198

42,658

Carrying amount

At 31 December 2023

1,285

132,655

133,940

At 31 December 2022

2,279

61,424

63,703

5

Investments

2023
£

2022
£

Investments in associates

221,770

127,000

Associates

£

Cost

At 1 January 2023

127,000

Additions

94,770

At 31 December 2023

221,770

Provision

Carrying amount

At 31 December 2023

221,770

At 31 December 2022

127,000

 

Ashbourne Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

6

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

541,884

563,837

Amounts owed by related parties

10

1,892,388

1,877,769

Other debtors

 

1,407,080

1,213,825

   

3,841,352

3,655,431

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Bank loans and overdrafts

110,456

183,659

Taxation and social security

170,091

178,368

Accruals and deferred income

5,000

3,860

Other creditors

441,580

87,542

727,127

453,429

The bank loan and overdraft are secured.

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

745,375

747,418

 

Ashbourne Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

1,000

1,000

1,000

1,000

       

9

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

640,696

689,762

Hire purchase contracts

104,679

57,656

745,375

747,418

Current loans and borrowings

2023
£

2022
£

Bank borrowings

90,480

90,480

Bank overdrafts

-

80,553

Hire purchase contracts

19,976

12,626

110,456

183,659

 

Ashbourne Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

10

Related party transactions

Transactions with directors

2023

At 1 January 2023
£

Advances to director
£

Repayments by director
£

At 31 December 2023
£

Miss S Shoai-Naini

Loan at 2.19 % per annum

363,255

154,529

(130,046)

387,738

Mrs Manijeh Shoai-Naini

Loan at 2.19% per annum

347,195

287,774

(247,665)

387,304

2022

At 1 January 2022
£

Advances to director
£

At 31 December 2022
£

Miss S Shoai-Naini

Loan at 2.19 % per annum

233,209

130,046

363,255

Mrs Manijeh Shoai-Naini

Loan at 2.19% per annum

99,529

247,666

347,195