Ashton Meadows Limited Accounts Cover
Ashton Meadows Limited
Company No. 12323634
Director's Report and Unaudited Accounts
31 December 2023
Ashton Meadows Limited Contents
Pages
Company Information
2
Director's Report
3
Accountant's Report
4
Profit and Loss Account
5
Statement of Comprehensive Income
6
Balance Sheet
7
Statement of Changes in Equity
8
Notes to the Accounts
9 to 14
Ashton Meadows Limited Company Information
Director
K. Ragunathan
Registered Office
14
Highbury Road
London
SW19 7PR
Accountants
KATHY RAGUNATHAN
14
HIGHBURY ROAD
LONDON
SW19 7PR
Ashton Meadows Limited Directors Report
The Director presents her report and the accounts for the year ended 31 December 2023.
Principal activities
The principal activity of the company during the year under review was Care Home.
Director
The Director who served at any time during the year was as follows:
K. Ragunathan
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
K. Ragunathan
Director
31 December 2023
Ashton Meadows Limited Accountants Report
Accountant's Report to the director of Ashton Meadows Limited on the preparation of the unaudited statutory accounts for the year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006 and in accordance with your instructions, we have prepared for your approval the financial statements of Ashton Meadows Limited for the year ended 31 December 2023 set out on pages 5 to 14 from the company's accounting records and from information and explanations you have given us.
You consider that the company is exempt from an audit for the year ended 31 December 2023. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing financial statements that give a true and fair view of the state of affairs of the company at the end of the financial year and of its loss for the year.
We have not carried out an audit or a review of the financial statements of Ashton Meadows Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
KATHY RAGUNATHAN
Accountants
14
HIGHBURY ROAD
LONDON
SW19 7PR
31 December 2023
Ashton Meadows Limited Profit and Loss Account
for the year ended 31 December 2023
2023
2022
£
£
Turnover
-
-
Profit on ordinary activities before taxation
--
Taxation
-
-
Profit for the financial year after taxation
--
The company did not trade during the current or preceding periods. During these periods, the company received no income and incurred no expenditure and therefore made neither profit nor loss.
Ashton Meadows Limited Statement of Comprehensive Income
STATEMENT OF COMPREHENSIVE INCOME
for the year ended 31 December 2023
2023
2022
£
£
Ashton Meadows Limited Balance Sheet
at
31 December 2023
Company No.
12323634
Notes
2023
2022
£
£
Fixed assets
Tangible assets
4
13,327,9118,672,438
13,327,911
8,672,438
Current assets
Cash at bank and in hand
-
5,773
-
5,773
Creditors: Amount falling due within one year
5
(480,880)
(324,038)
Net current liabilities
(480,880)
(318,265)
Total assets less current liabilities
12,847,031
8,354,173
Creditors: Amounts falling due after more than one year
6
(12,864,341)
(8,371,483)
Net liabilities
(17,310)
(17,310)
Capital and reserves
Called up share capital
100100
Profit and loss account
8
(17,410)
(17,410)
Total equity
(17,310)
(17,310)
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
Approved by the board on 31 December 2023 and signed on its behalf by:
K. Ragunathan
Director
31 December 2023
Ashton Meadows Limited Statement of Changes in Equity
for the year ended 31 December 2023
Share Capital
Retained earnings
Total equity
£
£
£
At 1 January 2022
100
(17,410)
(17,310)
At 31 December 2022 and 1 January 2023
100
(17,410)
(17,310)
At 31 December 2023
100
(17,410)
(17,310)
Ashton Meadows Limited Notes to the Accounts
for the year ended 31 December 2023
1
General information
Ashton Meadows Limited is a private company limited by shares and incorporated in England and Wales.
Its registered number is: 12323634
Its registered office is:
14
Highbury Road
London
SW19 7PR
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.
Intangible fixed assets
Intangible fixed assets are carried at cost less accumulated amortisation and impairment losses.
Research and development costs
Expenditure on research and development is written off in the year it is incurred unless it meets the criteria to allow it to be capitalised. Costs of research are always written off in the year in which they are incurred. Where development costs are recognised as an asset, they are amortised over the period expected to benefit from them. Amortisation of the capitalised costs begins once the developed product comes into use, typically at rate of 33.33% straight line.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.
Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Freehold investment property
Investment properties are revalued annually and any surplus or deficit is dealt with through the profit and loss account.

No depreciation is provided in respect of investment properties.
Investments
Unlisted investments (except those held as subsidiaries, associates or joint ventures) are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, any changes in fair value are recognised in profit and loss.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs.

Work in progress is reflected in the accounts on a contract by contract basis by recording revenue and related costs as contract activity progresses.
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.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Foreign currencies
The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.
Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. All differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.
Leased assets
Where the company enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to the Company are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the Company at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately in profit or loss, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the Company's policy on borrowing costs (see the accounting policy above).

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term.

In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
Defined contribution pensions
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.
The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.
3
Employees
2023
2022
Number
Number
The average monthly number of employees (including directors) during the year was:
00
4
Tangible fixed assets
Land and buildings
Total
£
£
Cost or revaluation
At 1 January 2023
8,672,4388,672,438
Additions
4,655,4734,655,473
At 31 December 2023
13,327,91113,327,911
Depreciation
Net book values
At 31 December 2023
13,327,91113,327,911
At 31 December 2022
8,672,438
8,672,438
5
Creditors:
amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
464,180306,813
Trade creditors
16,700
17,225
480,880324,038
6
Creditors:
amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
6,791,9203,901,054
Amounts owed to group undertakings
6,071,2114,469,219
Other creditors
1,2101,210
12,864,3418,371,483
Liabilities repayable in more than five years after the balance sheet date
Amount repayable by instalments
4,899,336
4,207,867
4,899,3364,207,867
The Company borrowed a Business loan from the Natwest Bank amounting to £7,220,129. This loan has taken against the Securities given by the Ashton Meadows Limited, Elderly Care Homes Ltd, Ashtonleigh Homes Ltd and Ashton Care Homes Ltd and in form of Freehold Properties. The Rate of Interest is 7.90%.
7
Share Capital
All shares carry equal voting rights, equal rights to a dividend entitlement, equal rights to a distribution on winding up and there is no likelihood of redemption.
8
Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
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