Silverfin false false 30/09/2023 01/12/2022 30/09/2023 Patricia Hutchinson-Wraighte 03/04/2023 24/11/2020 Gareth Victor Wraighte 12/01/2022 Richard Leonard Wraighte 24/11/2020 26 September 2024 The principal activity of the company during the year was that of a care home. 13040210 2023-09-30 13040210 bus:Director1 2023-09-30 13040210 bus:Director2 2023-09-30 13040210 bus:Director3 2023-09-30 13040210 2022-11-30 13040210 core:CurrentFinancialInstruments 2023-09-30 13040210 core:CurrentFinancialInstruments 2022-11-30 13040210 core:Non-currentFinancialInstruments 2023-09-30 13040210 core:Non-currentFinancialInstruments 2022-11-30 13040210 core:ShareCapital 2023-09-30 13040210 core:ShareCapital 2022-11-30 13040210 core:RevaluationReserve 2023-09-30 13040210 core:RevaluationReserve 2022-11-30 13040210 core:RetainedEarningsAccumulatedLosses 2023-09-30 13040210 core:RetainedEarningsAccumulatedLosses 2022-11-30 13040210 core:Goodwill 2022-11-30 13040210 core:Goodwill 2023-09-30 13040210 core:LandBuildings 2022-11-30 13040210 core:OtherPropertyPlantEquipment 2022-11-30 13040210 core:LandBuildings 2023-09-30 13040210 core:OtherPropertyPlantEquipment 2023-09-30 13040210 core:CurrentFinancialInstruments core:Secured 2023-09-30 13040210 bus:OrdinaryShareClass1 2023-09-30 13040210 2022-12-01 2023-09-30 13040210 bus:FilletedAccounts 2022-12-01 2023-09-30 13040210 bus:SmallEntities 2022-12-01 2023-09-30 13040210 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-09-30 13040210 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-09-30 13040210 bus:Director1 2022-12-01 2023-09-30 13040210 bus:Director2 2022-12-01 2023-09-30 13040210 bus:Director3 2022-12-01 2023-09-30 13040210 core:OtherPropertyPlantEquipment 2022-12-01 2023-09-30 13040210 2021-12-01 2022-11-30 13040210 core:LandBuildings 2022-12-01 2023-09-30 13040210 core:CurrentFinancialInstruments 2022-12-01 2023-09-30 13040210 core:Non-currentFinancialInstruments 2022-12-01 2023-09-30 13040210 bus:OrdinaryShareClass1 2022-12-01 2023-09-30 13040210 bus:OrdinaryShareClass1 2021-12-01 2022-11-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 13040210 (England and Wales)

ASHBURTON HOUSE CARE HOME LTD

Unaudited Financial Statements
For the financial period from 01 December 2022 to 30 September 2023
Pages for filing with the registrar

ASHBURTON HOUSE CARE HOME LTD

Unaudited Financial Statements

For the financial period from 01 December 2022 to 30 September 2023

Contents

ASHBURTON HOUSE CARE HOME LTD

STATEMENT OF FINANCIAL POSITION

As at 30 September 2023
ASHBURTON HOUSE CARE HOME LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 September 2023
Note 30.09.2023 30.11.2022
£ £
Fixed assets
Intangible assets 3 3 3
Tangible assets 4 2,134,637 2,156,525
2,134,640 2,156,528
Current assets
Debtors 5 98,153 45,215
Cash at bank and in hand 190,638 72,087
288,791 117,302
Creditors: amounts falling due within one year 6 ( 171,608) ( 187,499)
Net current assets/(liabilities) 117,183 (70,197)
Total assets less current liabilities 2,251,823 2,086,331
Creditors: amounts falling due after more than one year 7 ( 1,751,311) ( 1,771,514)
Provision for liabilities ( 124,501) ( 128,602)
Net assets 376,011 186,215
Capital and reserves
Called-up share capital 8 2 2
Revaluation reserve 348,726 348,726
Profit and loss account 27,283 ( 162,513 )
Total shareholders' funds 376,011 186,215

For the financial period ending 30 September 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Ashburton House Care Home Ltd (registered number: 13040210) were approved and authorised for issue by the Board of Directors on 26 September 2024. They were signed on its behalf by:

Gareth Victor Wraighte
Director
ASHBURTON HOUSE CARE HOME LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 December 2022 to 30 September 2023
ASHBURTON HOUSE CARE HOME LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 December 2022 to 30 September 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Ashburton House Care Home Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2nd Floor Stratus House Emperor Way, Exeter Business Park, Exeter, EX1 3QS, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Reporting period length

During the year the company shortened its reporting period from November 2023 to September 2023, representing a ten month period. Comparative amounts presented in the financial statements may not be entirely comparable.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial period. Differences between contributions payable in the financial period and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill not amortised
Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Plant and machinery etc. 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

Period from
01.12.2022 to
30.09.2023
Year ended
30.11.2022
Number Number
Monthly average number of persons employed by the Company during the period, including directors 29 27

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 December 2022 3 3
At 30 September 2023 3 3
Accumulated amortisation
At 01 December 2022 0 0
At 30 September 2023 0 0
Net book value
At 30 September 2023 3 3
At 30 November 2022 3 3

4. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 December 2022 2,000,000 226,578 2,226,578
Additions 4,200 0 4,200
At 30 September 2023 2,004,200 226,578 2,230,778
Accumulated depreciation
At 01 December 2022 0 70,053 70,053
Charge for the financial period 0 26,088 26,088
At 30 September 2023 0 96,141 96,141
Net book value
At 30 September 2023 2,004,200 130,437 2,134,637
At 30 November 2022 2,000,000 156,525 2,156,525

5. Debtors

30.09.2023 30.11.2022
£ £
Trade debtors 49,199 28,659
Amounts owed by Group undertakings 7,227 7,227
Prepayments and accrued income 41,727 9,329
98,153 45,215

6. Creditors: amounts falling due within one year

30.09.2023 30.11.2022
£ £
Bank loans (secured) 42,000 56,800
Trade creditors 10,008 20,062
Amounts owed to Group undertakings 48,062 58,735
Accruals and deferred income 61,799 51,902
Other taxation and social security 9,739 0
171,608 187,499

Security has been given over all the property or undertaking of the company by way of a fixed and floating charge.

7. Creditors: amounts falling due after more than one year

30.09.2023 30.11.2022
£ £
Bank loans (secured) 1,751,311 1,771,514

Security has been given over all the property or undertaking of the company by way of a fixed and floating charge.

8. Called-up share capital

30.09.2023 30.11.2022
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2