REGISTERED NUMBER: 04161913 (England and Wales) |
GROUP STRATEGIC REPORT, REPORT OF THE DIRECTOR AND |
CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 |
FOR |
Ashdown Care Ltd |
Group Accounts |
REGISTERED NUMBER: 04161913 (England and Wales) |
GROUP STRATEGIC REPORT, REPORT OF THE DIRECTOR AND |
CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 |
FOR |
Ashdown Care Ltd |
Group Accounts |
Ashdown Care Ltd |
Group Accounts (Registered number: 04161913) |
CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS |
for the Year Ended 30 June 2023 |
Page |
Company information | 1 |
Group strategic report | 2 |
Report of the director | 3 |
Report of the independent auditors | 4 |
Consolidated income statement | 8 |
Consolidated other comprehensive income | 9 |
Consolidated balance sheet | 10 |
Company balance sheet | 11 |
Consolidated statement of changes in equity | 12 |
Company statement of changes in equity | 13 |
Consolidated cash flow statement | 14 |
Notes to the consolidated cash flow statement | 15 |
Notes to the consolidated financial statements | 16 |
Ashdown Care Ltd |
Group Accounts |
COMPANY INFORMATION |
for the Year Ended 30 June 2023 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SENIOR STATUTORY AUDITOR: | Fahreen Meghani |
AUDITORS: |
Chartered Accountants |
Registered Auditors |
1 Landor Road |
London |
SW9 9RX |
Ashdown Care Ltd |
Group Accounts (Registered number: 04161913) |
GROUP STRATEGIC REPORT |
for the Year Ended 30 June 2023 |
The director presents his strategic report of the company and the group for the year ended 30 June 2023. |
REVIEW OF BUSINESS |
In the opinion of the director, the company has achieved good results of the year under review. |
The results and the position of the group are shown in the financial statements. The results at the end of the year and the level of business during the year were satisfactory and the director expects to maintain the level of activity for the foreseeable future. |
The turnover for the year to 30 June,2024 is likely be consistent and with tight control on the expenditure, profitability will continue at satisfactory level. |
£ £ |
Turnover | 10,020,209 | 8,416,702 |
Profit before taxation | 1,236,050 | 2,254,608 |
Gross profit | 4,408631 | 3,448,117 |
Gross profit percentage | 43.99% | 40.96% |
Shareholders' funds amount to £11,032,322 (2022 - £9,665,649).The director is confident that the company sufficient funds to finance the anticipated levels of activity. |
There have been no events since the balance sheet date that materially affect the financial position of the company. |
ON BEHALF OF THE BOARD: |
30 September 2024 |
Ashdown Care Ltd |
Group Accounts (Registered number: 04161913) |
REPORT OF THE DIRECTOR |
for the Year Ended 30 June 2023 |
The director presents his report with the financial statements of the company and the group for the year ended 30 June 2023. |
PRINCIPAL ACTIVITY |
The principal activity of the group in the year under review was that of owning and managing nursing homes. |
DIVIDENDS |
No dividends will be distributed for the year ended 30 June 2023. |
DIRECTOR |
POLITICAL DONATIONS AND EXPENDITURE |
During the year company paid £30,233 to Aga Khan Foundation (UK), Charity registered in UK. |
STATEMENT OF DIRECTOR'S RESPONSIBILITIES |
The director is responsible for preparing the Group strategic report, the Report of the director and the financial statements in accordance with applicable law and regulations. |
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the director is required to: |
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information. |
AUDITORS |
The auditors, Fairman Harris, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
ON BEHALF OF THE BOARD: |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
ASHDOWN CARE LTD |
GROUP ACCOUNTS |
Opinion |
We have audited the financial statements of Ashdown Care Ltd Group Accounts (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 June 2023 which comprise the Consolidated income statement, Consolidated other comprehensive income, Consolidated balance sheet, Company balance sheet, Consolidated statement of changes in equity, Company statement of changes in equity, Consolidated cash flow statement and Notes to the consolidated cash flow statement, Notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
_ |
In our opinion the financial statements: |
- | give a true and fair view of the state of the group's and of the parent company affairs as at 30 June 2023 and of the group's profit for the year then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
Conclusions relating to going concern |
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report. |
Other information |
Other matters |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Group strategic report and the Report of the director for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Group strategic report and the Report of the director have been prepared in accordance with applicable legal requirements. |
- the group has not been audited in prior years despite being a requirement to do so. |
Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group strategic report or the Report of the director. |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- | adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or |
- | the parent company financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of director's remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
ASHDOWN CARE LTD |
GROUP ACCOUNTS |
Responsibilities of director |
As explained more fully in the Statement of director's responsibilities set out on page three, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
In preparing the financial statements, the director is responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the group or the parent company or to cease operations, or has no realistic alternative but to do so. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
ASHDOWN CARE LTD |
GROUP ACCOUNTS |
Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: As part of designing our audit, we determined materiality and assessed the risks of material misstatement in the financial statements, including how fraud may occur by enquiring of management of its own consideration of fraud. In particular, we looked at where management made subjective judgements, for example in respect of significant accounting estimates that involved making assumptions and considering future events that are inherently uncertain. We also considered potential financial or other pressures, opportunity and motivations for fraud. As part of this discussion we identified the internal controls established to mitigate risks related to fraud or noncompliance with laws and regulations and how management monitor these processes. Appropriate procedures included the review and testing of manual journals and key estimates and judgements made by management. We gained an understanding of the legal and regulatory framework applicable to the Union and the industry in which it operates, drawing on our broad sector experience, and considered the risk of acts by the Union that were contrary to these laws and regulations, including fraud. We focused on laws and regulations that could give rise to a material misstatement in the financial statements, including, but not limited to, the Trade Union and Labour Relations (Consolidation) Act 1992, UK tax legislation and equivalent local laws and regulations. We made enquiries of management with regards to compliance with the above laws and regulations and corroborated any necessary evidence to relevant information, for example, minutes of the Central Executive Council meetings, minutes of regional meetings held, legal reports provided to the Central Executive Council and correspondence between the Union and its solicitors. We completed a sample of branch audit reviews with a focus on the income, expenditure and cash balances throughout the period to ensure that activities were supported and in line with Union rules and practices. Any unusual findings were raised with the regional secretaries for further investigation. Our tests included agreeing the financial statements disclosures to underlying supporting documentation and enquiries with management. We did not identify any key audit matters relating to irregularities, including fraud. As in all of our audits, we also addressed the risk of management override of internal controls including testing journals and evaluation whether there was evidence of bias by the Central Executive Council that represented a risk of material misstatement due to fraud. Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognizing that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Councils website at: www.frc.org.uk/auditors responsibilities. This description forms part of our auditor’s report. |
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the auditors. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
ASHDOWN CARE LTD |
GROUP ACCOUNTS |
Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
for and on behalf of |
Chartered Accountants |
Registered Auditors |
1 Landor Road |
London |
SW9 9RX |
Ashdown Care Ltd |
Group Accounts (Registered number: 04161913) |
CONSOLIDATED INCOME STATEMENT |
for the Year Ended 30 June 2023 |
30.6.23 | 30.6.22 |
Notes | £ | £ |
TURNOVER | 10,020,209 | 8,416,702 |
Cost of sales | 5,611,578 | 4,968,525 |
GROSS PROFIT | 4,408,631 | 3,448,177 |
Administrative expenses | 3,156,264 | 1,552,759 |
1,252,367 | 1,895,418 |
Other operating income | 93,099 | 414,217 |
OPERATING PROFIT | 4 | 1,345,466 | 2,309,635 |
Interest receivable and similar income | 28,597 | 5,395 |
1,374,063 | 2,315,030 |
Interest payable and similar expenses | 5 | 138,013 | 60,422 |
PROFIT BEFORE TAXATION | 1,236,050 | 2,254,608 |
Tax on profit | 6 | (130,623 | ) | 433,460 |
PROFIT FOR THE FINANCIAL YEAR |
Profit attributable to: |
Owners of the parent | 1,366,673 | 1,821,148 |
Ashdown Care Ltd |
Group Accounts (Registered number: 04161913) |
CONSOLIDATED OTHER COMPREHENSIVE INCOME |
for the Year Ended 30 June 2023 |
30.6.23 | 30.6.22 |
Notes | £ | £ |
PROFIT FOR THE YEAR | 1,366,673 | 1,821,148 |
OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
1,366,673 |
1,821,148 |
Total comprehensive income attributable to: |
Owners of the parent | 1,366,673 | 1,821,148 |
Ashdown Care Ltd |
Group Accounts (Registered number: 04161913) |
CONSOLIDATED BALANCE SHEET |
30 June 2023 |
30.6.23 | 30.6.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 8 | 3,508,400 | 4,876,220 |
Tangible assets | 9 | 4,513,531 | 4,540,020 |
Investments | 10 | - | - |
Investment property | 11 | 883,425 | 496,091 |
8,905,356 | 9,912,331 |
CURRENT ASSETS |
Debtors | 12 | 5,270,239 | 3,496,991 |
Cash at bank and in hand | 3,836,786 | 3,503,235 |
9,107,025 | 7,000,226 |
CREDITORS |
Amounts falling due within one year | 13 | 4,622,871 | 4,388,646 |
NET CURRENT ASSETS | 4,484,154 | 2,611,580 |
TOTAL ASSETS LESS CURRENT LIABILITIES |
13,389,510 |
12,523,911 |
CREDITORS |
Amounts falling due after more than one year |
14 |
2,357,188 |
2,858,262 |
NET ASSETS | 11,032,322 | 9,665,649 |
CAPITAL AND RESERVES |
Called up share capital | 17 | 600 | 600 |
Retained earnings | 18 | 11,031,722 | 9,665,049 |
SHAREHOLDERS' FUNDS | 11,032,322 | 9,665,649 |
The financial statements were approved by the director and authorised for issue on 30 September 2024 and were signed by: |
A S Pradhan - Director |
Ashdown Care Ltd |
Group Accounts (Registered number: 04161913) |
COMPANY BALANCE SHEET |
30 June 2023 |
30.6.23 | 30.6.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 8 |
Tangible assets | 9 |
Investments | 10 |
Investment property | 11 |
CURRENT ASSETS |
Debtors | 12 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 13 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
14 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 17 |
Retained earnings | 18 |
SHAREHOLDERS' FUNDS |
Company's profit for the financial year | 1,251,958 | 1,652,088 |
The financial statements were approved by the director and authorised for issue on |
Ashdown Care Ltd |
Group Accounts (Registered number: 04161913) |
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY |
for the Year Ended 30 June 2023 |
Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
Balance at 1 July 2021 | 600 | 7,843,901 | 7,844,501 |
Changes in equity |
Total comprehensive income | - | 1,821,148 | 1,821,148 |
Balance at 30 June 2022 | 600 | 9,665,049 | 9,665,649 |
Changes in equity |
Total comprehensive income | - | 1,366,673 | 1,366,673 |
Balance at 30 June 2023 | 600 | 11,031,722 | 11,032,322 |
Ashdown Care Ltd |
Group Accounts (Registered number: 04161913) |
COMPANY STATEMENT OF CHANGES IN EQUITY |
for the Year Ended 30 June 2023 |
Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
Balance at 1 July 2021 |
Changes in equity |
Total comprehensive income | - |
Balance at 30 June 2022 |
Changes in equity |
Total comprehensive income | - |
Balance at 30 June 2023 |
Ashdown Care Ltd |
Group Accounts (Registered number: 04161913) |
CONSOLIDATED CASH FLOW STATEMENT |
for the Year Ended 30 June 2023 |
30.6.23 | 30.6.22 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 | 1,094,048 | 1,997,422 |
Interest paid | (138,013 | ) | (60,422 | ) |
Tax paid | (1,133,216 | ) | 47,899 |
Net cash from operating activities | (177,181 | ) | 1,984,899 |
Cash flows from investing activities |
Purchase of tangible fixed assets | (101,237 | ) | (94,107 | ) |
Purchase of investment property | (387,334 | ) | (496,091 | ) |
Sale of tangible fixed assets | 14,958 | - |
Interest received | 28,597 | 5,395 |
Net cash from investing activities | (445,016 | ) | (584,803 | ) |
Cash flows from financing activities |
Amount introduced by directors | (9,590 | ) | 204,253 |
Loans advanced | 965,338 | 23,556 |
Net cash from financing activities | 955,748 | 227,809 |
Increase in cash and cash equivalents | 333,551 | 1,627,905 |
Cash and cash equivalents at beginning of year |
2 |
3,503,235 |
1,875,330 |
Cash and cash equivalents at end of year |
2 |
3,836,786 |
3,503,235 |
Ashdown Care Ltd |
Group Accounts (Registered number: 04161913) |
NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT |
for the Year Ended 30 June 2023 |
1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
30.6.23 | 30.6.22 |
£ | £ |
Profit before taxation | 1,236,050 | 2,254,608 |
Depreciation charges | 155,048 | 148,298 |
Profit on disposal of fixed assets | (12,904 | ) | - |
Government grants | - | (381,784 | ) |
Finance costs | 138,013 | 60,422 |
Finance income | (28,597 | ) | (5,395 | ) |
1,487,610 | 2,076,149 |
(Increase)/decrease in trade and other debtors | (503,928 | ) | 313,564 |
Increase/(decrease) in trade and other creditors | 110,366 | (392,291 | ) |
Cash generated from operations | 1,094,048 | 1,997,422 |
2. | CASH AND CASH EQUIVALENTS |
The amounts disclosed on the Cash flow statement in respect of cash and cash equivalents are in respect of these Balance sheet amounts: |
Year ended 30 June 2023 |
30.6.23 | 1.7.22 |
£ | £ |
Cash and cash equivalents | 3,836,786 | 3,503,235 |
Year ended 30 June 2022 |
30.6.22 | 1.7.21 |
£ | £ |
Cash and cash equivalents | 3,503,235 | 1,875,330 |
3. | ANALYSIS OF CHANGES IN NET FUNDS |
At 1.7.22 | Cash flow | At 30.6.23 |
£ | £ | £ |
Net cash |
Cash at bank and in hand | 3,503,235 | 333,551 | 3,836,786 |
3,503,235 | 333,551 | 3,836,786 |
Debt |
Debts falling due within 1 year | (538,045 | ) | (58,688 | ) | (596,733 | ) |
Debts falling due after 1 year | (2,858,262 | ) | 501,074 | (2,357,188 | ) |
(3,396,307 | ) | 442,386 | (2,953,921 | ) |
Total | 106,928 | 775,937 | 882,865 |
Ashdown Care Ltd |
Group Accounts (Registered number: 04161913) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS |
for the Year Ended 30 June 2023 |
1. | STATUTORY INFORMATION |
Ashdown Care Ltd Group Accounts is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Transactions between group entities which have been eliminated on consolidation are not disclosed within 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. |
Goodwill |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Freehold property | - |
Improvements to property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Investment property |
Investment properties are stated at cost. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, 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. |
Ashdown Care Ltd |
Group Accounts (Registered number: 04161913) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
for the Year Ended 30 June 2023 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
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 have been enacted or substantively enacted by the year end 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 probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Pension costs and other post-retirement benefits |
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
30.6.23 | 30.6.22 |
£ | £ |
Wages and salaries | 4,865,169 | 4,306,013 |
Social security costs | 336,270 | 302,091 |
Other pension costs | 77,959 | 66,103 |
5,279,398 | 4,674,207 |
The average number of employees during the year was as follows: |
30.6.23 | 30.6.22 |
Administration,management & finance | 12 | 12 |
Care & Nursing | 187 | 191 |
Kitchen & other services | 37 | 28 |
The average number of employees by undertakings that were proportionately consolidated during the year was 236 (2022 - 231 ) . |
30.6.23 | 30.6.22 |
£ | £ |
Director's remuneration | - | - |
4. | OPERATING PROFIT |
The operating profit is stated after charging/(crediting): |
30.6.23 | 30.6.22 |
£ | £ |
Depreciation - owned assets | 125,672 | 118,922 |
Profit on disposal of fixed assets | (12,904 | ) | - |
Goodwill amortisation | 29,376 | 29,375 |
Audit fees | 30,000 | - |
Ashdown Care Ltd |
Group Accounts (Registered number: 04161913) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
for the Year Ended 30 June 2023 |
5. | INTEREST PAYABLE AND SIMILAR EXPENSES |
30.6.23 | 30.6.22 |
£ | £ |
Bank loan interest | 138,013 | 60,422 |
6. | TAXATION |
Analysis of the tax (credit)/charge |
The tax (credit)/charge on the profit for the year was as follows: |
30.6.23 | 30.6.22 |
£ | £ |
Current tax: |
UK corporation tax | 538,677 | 433,460 |
Deferred tax | (669,300 | ) | - |
Tax on profit | (130,623 | ) | 433,460 |
7. | INDIVIDUAL INCOME STATEMENT |
As permitted by Section 408 of the Companies Act 2006, the Income statement of the parent company is not presented as part of these financial statements. |
8. | INTANGIBLE FIXED ASSETS |
Group |
Goodwill |
£ |
COST |
At 1 July 2022 |
and 30 June 2023 | 5,522,103 |
AMORTISATION |
At 1 July 2022 | 645,883 |
Amortisation for year | 29,376 |
Impairments | 1,338,444 |
At 30 June 2023 | 2,013,703 |
NET BOOK VALUE |
At 30 June 2023 | 3,508,400 |
At 30 June 2022 | 4,876,220 |
Ashdown Care Ltd |
Group Accounts (Registered number: 04161913) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
for the Year Ended 30 June 2023 |
8. | INTANGIBLE FIXED ASSETS - continued |
Company |
Goodwill |
£ |
COST |
At 1 July 2022 |
and 30 June 2023 |
AMORTISATION |
At 1 July 2022 |
Amortisation for year |
At 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
At 30 June 2022 |
9. | TANGIBLE FIXED ASSETS |
Group |
Improvements |
Freehold | to | Plant and |
property | property | machinery |
£ | £ | £ |
COST |
At 1 July 2022 | 4,169,921 | 916,049 | 1,121,895 |
Additions | - | - | 14,708 |
Disposals | (2,054 | ) | - | - |
At 30 June 2023 | 4,167,867 | 916,049 | 1,136,603 |
DEPRECIATION |
At 1 July 2022 | 704,350 | 76,967 | 1,054,932 |
Charge for year | 36,022 | 8,930 | 20,412 |
At 30 June 2023 | 740,372 | 85,897 | 1,075,344 |
NET BOOK VALUE |
At 30 June 2023 | 3,427,495 | 830,152 | 61,259 |
At 30 June 2022 | 3,465,571 | 839,082 | 66,963 |
Ashdown Care Ltd |
Group Accounts (Registered number: 04161913) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
for the Year Ended 30 June 2023 |
9. | TANGIBLE FIXED ASSETS - continued |
Group |
Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 July 2022 | 934,752 | 11,000 | 70,567 | 7,224,184 |
Additions | 73,328 | - | 13,201 | 101,237 |
Disposals | - | - | - | (2,054 | ) |
At 30 June 2023 | 1,008,080 | 11,000 | 83,768 | 7,323,367 |
DEPRECIATION |
At 1 July 2022 | 801,742 | 11,000 | 35,173 | 2,684,164 |
Charge for year | 48,159 | - | 12,149 | 125,672 |
At 30 June 2023 | 849,901 | 11,000 | 47,322 | 2,809,836 |
NET BOOK VALUE |
At 30 June 2023 | 158,179 | - | 36,446 | 4,513,531 |
At 30 June 2022 | 133,010 | - | 35,394 | 4,540,020 |
Company |
Improvements |
Freehold | to | Plant and |
property | property | machinery |
£ | £ | £ |
COST |
At 1 July 2022 |
Additions |
Disposals | ( |
) |
At 30 June 2023 |
DEPRECIATION |
At 1 July 2022 |
Charge for year |
At 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
At 30 June 2022 |
Ashdown Care Ltd |
Group Accounts (Registered number: 04161913) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
for the Year Ended 30 June 2023 |
9. | TANGIBLE FIXED ASSETS - continued |
Company |
Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 July 2022 |
Additions |
Disposals | ( |
) |
At 30 June 2023 |
DEPRECIATION |
At 1 July 2022 |
Charge for year |
At 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
At 30 June 2022 |
10. | FIXED ASSET INVESTMENTS |
Company |
Shares in |
group |
undertakings |
£ |
COST |
At 1 July 2022 |
Impairments | ( |
) |
At 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
At 30 June 2022 |
Ashdown Care Ltd |
Group Accounts (Registered number: 04161913) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
for the Year Ended 30 June 2023 |
10. | FIXED ASSET INVESTMENTS - continued |
The group or the company's investments at the Balance sheet date in the share capital of companies include the following: |
Subsidiaries |
Registered office: C/O Mcak & Co, No15, 1st Floor, Princeton Mews,167-169 London Road, Kingston Upon Thames.Surrey. KT2 6PT |
Nature of business: |
% |
Class of shares: | holding |
30.6.23 | 30.6.22 |
£ | £ |
Aggregate capital and reserves |
Profit for the year |
Registered office: C/O Mcak & Co, No15,1st Floor, Princeton Mews, 167-169 London Road Kingston Upon Thames. Surrey. KT2 6PT |
Nature of business: |
% |
Class of shares: | holding |
30.6.23 | 30.6.22 |
£ | £ |
Aggregate capital and reserves |
11. | INVESTMENT PROPERTY |
The investment properties are stated at cost. |
Company |
Total |
£ |
FAIR VALUE |
At 1 July 2022 |
Additions |
At 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
At 30 June 2022 |
Ashdown Care Ltd |
Group Accounts (Registered number: 04161913) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
for the Year Ended 30 June 2023 |
12. | DEBTORS |
Group | Company |
30.6.23 | 30.6.22 | 30.6.23 | 30.6.22 |
£ | £ | £ | £ |
Amounts falling due within one year: |
Trade debtors | 66,141 | 267,295 |
Amounts owed by group undertakings | - | - |
Amounts owed by participating interests | 3,027,685 | 2,427,665 | 2,812,162 | 2,312,142 |
Other debtors | 396,022 | 394,880 |
Platinum Loan Account | 400,000 | 400,000 | 400,000 | 400,000 |
Prepayments | 60,291 | 5,436 |
3,950,139 | 3,495,276 |
Amounts falling due after more than one | year: |
Other debtors | 650,800 | - |
Deferred Tax | 669,300 | - | 669,300 | - |
Prepayments and accrued income | - | 1,715 |
1,320,100 | 1,715 |
Aggregate amounts | 5,270,239 | 3,496,991 |
13. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Group | Company |
30.6.23 | 30.6.22 | 30.6.23 | 30.6.22 |
£ | £ | £ | £ |
Bank loans and overdrafts (see note 15) | 596,733 | 538,045 |
Trade creditors | 227,024 | 199,207 |
Amounts owed to group undertakings | - | - |
Tax | 911,574 | 836,813 |
Social security and other taxes | 101,563 | 33,713 |
Other creditors | 2,530,889 | 2,489,616 |
Other creditors | 2,816 | 81,869 | 2,816 | 81,869 |
Company credit card | 712 | 1,469 | 712 | 1,469 |
Overpayments by residents | - | 62,520 | - | 62,520 |
Directors' current accounts | 99,753 | 109,343 | 523 | 76 |
Accruals and deferred income | 91,172 | - |
Accrued expenses | 60,635 | 36,051 |
4,622,871 | 4,388,646 |
14. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
Group | Company |
30.6.23 | 30.6.22 | 30.6.23 | 30.6.22 |
£ | £ | £ | £ |
Bank loans (see note 15) | 2,357,188 | 2,858,262 |
Ashdown Care Ltd |
Group Accounts (Registered number: 04161913) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
for the Year Ended 30 June 2023 |
15. | LOANS |
An analysis of the maturity of loans is given below: |
Group | Company |
30.6.23 | 30.6.22 | 30.6.23 | 30.6.22 |
£ | £ | £ | £ |
Amounts falling due within one year or | on demand: |
Bank loans | 596,733 | 538,045 |
Amounts falling due between one and | two years: |
Bank loans - 1-2 years | 2,284,885 | 2,125,335 |
Amounts falling due between two and | five years: |
Bank loans - 2-5 years | - | 650,657 |
Amounts falling due in more than five | years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 72,303 | 82,270 | 33,414 | 37,825 |
16. | SECURED DEBTS |
The following secured debts are included within creditors: |
Company |
30.6.23 | 30.6.22 |
£ | £ |
Bank loans |
17. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.6.23 | 30.6.22 |
value: | £ | £ |
Ordinary shares | 1 | 600 | 600 |
18. | RESERVES |
Group |
Retained |
earnings |
£ |
At 1 July 2022 | 9,665,049 |
Profit for the year | 1,366,673 |
At 30 June 2023 | 11,031,722 |
Ashdown Care Ltd |
Group Accounts (Registered number: 04161913) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
for the Year Ended 30 June 2023 |
18. | RESERVES - continued |
Company |
Retained |
earnings |
£ |
At 1 July 2022 |
Profit for the year |
At 30 June 2023 |
19. | RELATED PARTY DISCLOSURES |
Other related parties |
30.6.23 | 30.6.22 |
£ | £ |
Amount due from related party | 3,002,556 | 2,402,557 |
The company was owed £3,002,557 (2022: £2,402,557) by Parish Care Ltd ,which is under the common control of the director. |
During the year,the company paid £88,609 to Paradedown Ltd, and £18,362 to Paris Care Ltd for office services, companies under the control of the director. |
20. | ULTIMATE CONTROLLING PARTY |
The controlling party is A S Pradhan. |
The ultimate controlling party is A S Pradhan. |
21. | BANK BORROWINGS |
The current bank loan agreement expires in November,2024,however the director has been in discussion with the lender to renew the borrowing facility. The bank have confirmed they see no reason for this to be extended for a further four years for full repayment. |