Company registration number 02872033 (England and Wales)
ACKROYD HOUSE LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
ACKROYD HOUSE LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 7
ACKROYD HOUSE LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
as restated
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,624,769
1,682,672
Current assets
Stocks
750
750
Debtors
5
201,459
153,998
Cash at bank and in hand
474,964
414,480
677,173
569,228
Creditors: amounts falling due within one year
6
(1,705,141)
(1,528,639)
Net current liabilities
(1,027,968)
(959,411)
Total assets less current liabilities
596,801
723,261
Creditors: amounts falling due after more than one year
7
(13,123)
(22,435)
Provisions for liabilities
(48,700)
(54,100)
Net assets
534,978
646,726
Capital and reserves
Called up share capital
300
300
Profit and loss reserves
534,678
646,426
Total equity
534,978
646,726

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

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 23 October 2024 and are signed on its behalf by:
S Z Hasan
Director
Company registration number 02872033 (England and Wales)
ACKROYD HOUSE LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
As restated for the period ended 31 March 2023:
Balance at 1 April 2022
300
845,718
846,018
Effect of change in accounting policy
-
(40,232)
(40,232)
As restated
300
805,486
805,786
Year ended 31 March 2023:
Profit and total comprehensive income
-
180,940
180,940
Dividends
-
(340,000)
(340,000)
Balance at 31 March 2023
300
646,426
646,726
Year ended 31 March 2024:
Profit and total comprehensive income
-
203,252
203,252
Dividends
-
(315,000)
(315,000)
Balance at 31 March 2024
300
534,678
534,978
ACKROYD HOUSE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

Ackroyd House Limited is a private company, limited by shares and incorporated in England and Wales. The registered office is Unit 3 Old Brickworks Lane, Chesterfield, S41 7JD.

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

Turnover represents fees received in relation to the care services and accommodation provided and is recognised in the period in which the service was provided.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, 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:

Freehold land and buildings
2% straight line
Fixtures, fittings & equipment
15% 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 profit or loss.

1.4
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.

1.5
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.

ACKROYD HOUSE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
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.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

 

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.

1.8
Retirement benefits

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

ACKROYD HOUSE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
1.9
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.

2
Change in accounting policy

The directors have decided to revert to an historic cost basis for freehold land and buildings in order to represent a truer and fairer view of the company's performance. The change in accounting policy has led to a prior year adjustment as documented in note 10.

3
Employees

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

2024
2023
Number
Number
Total
74
71
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost or valuation
At 1 April 2023
1,970,256
985,522
2,955,778
Additions
-
0
10,183
10,183
At 31 March 2024
1,970,256
995,705
2,965,961
Depreciation and impairment
At 1 April 2023
530,596
742,510
1,273,106
Depreciation charged in the year
31,603
36,483
68,086
At 31 March 2024
562,199
778,993
1,341,192
Carrying amount
At 31 March 2024
1,408,057
216,712
1,624,769
At 31 March 2023
1,439,660
243,012
1,682,672
ACKROYD HOUSE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
151,287
136,172
Amounts owed by group undertakings
17,439
17,826
Other debtors
2,200
-
0
Prepayments and accrued income
30,533
-
0
201,459
153,998
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,204
9,954
Trade creditors
69,076
87,179
Amounts owed to group undertakings
1,303,508
1,193,211
Corporation tax
43,618
2,400
Other taxation and social security
129,220
107,356
Other creditors
94,960
89,060
Accruals and deferred income
54,555
39,479
1,705,141
1,528,639

The aggregate amount of creditors for which security has been given amounted to £23,327 (2023: £32,389).

7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
13,123
22,435
8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Natalie Bracey
Statutory Auditor:
Hart Shaw LLP
Date of audit report:
12 November 2024
ACKROYD HOUSE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
9
Financial commitments, guarantees and contingent liabilities

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £25,958 (2023 - £30,826).

 

In addition, total bank borrowings of £3,603,123 (2023 - £3,648,289) in the parent company have been partially secured by a fixed and floating charge over the company's assets.

10
Parent company

The parent company of Ackroyd House Limited is Hermes Care Limited and its registered office is Unit 3 Old Brick Works Lane, Chesterfield, S41 7JD.

11
Prior period adjustment

The directors have decided to revert to an historic cost basis for freehold land and buildings in order to represent a truer and fairer view of the company's performance. The impact of the changes on the comparative numbers are as follows.

Changes to the balance sheet
As previously reported
Adjustment
As restated at 31 Mar 2023
£
£
£
Fixed assets
Tangible assets
5,018,012
(3,335,340)
1,682,672
Provisions for liabilities
Deferred tax
(690,200)
636,100
(54,100)
Net assets
3,345,966
(2,699,240)
646,726
Capital and reserves
Revaluation reserve
2,627,405
(2,627,405)
-
0
Profit and loss reserves
718,261
(71,835)
646,426
Total equity
3,345,966
(2,699,240)
646,726
Changes to the profit and loss account
As previously reported
Adjustment
As restated
Period ended 31 March 2023
£
£
£
Administrative expenses
(389,473)
(31,603)
(421,076)
Profit for the financial period
212,543
(31,603)
180,940
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