Registered number: 06937247
ADBOLTON HALL LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 30 APRIL 2024
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ADBOLTON HALL LIMITED
REGISTERED NUMBER: 06937247
BALANCE SHEET
AS AT 30 APRIL 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 January 2025.
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P Gray
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The notes on pages 3 to 6 form part of these financial statements.
Page 1
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ADBOLTON HALL LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2024
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Comprehensive income for the year
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Total comprehensive income for the year
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Comprehensive income for the year
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Total comprehensive income for the year
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The notes on pages 3 to 6 form part of these financial statements.
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Page 2
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ADBOLTON HALL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
Adbolton Hall Limited is a private limited company incorporated in England and Wales. The Company's registered office is Sturgate Business Hub Sturgate Airfield, Heapham, Gainsborough, Lincolnshire, DN21 5PA and the trading address is disclosed on the company's information page. The Company's registration number is 06937247. It's principle activity is the provision of care services.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
The financial statements are prepared in sterling and rounded to the nearest GBP.
The following principal accounting policies have been applied:
The Company ceased trading during the prior period and therefore the Directors have considered the preparation of the accounts on a going concern basis to be inappropriate. The financial statements have been prepared on a basis other than that of the going concern basis. This basis includes, where applicable, writing the Company’s assets down to net realisable value. Provisions have also been made in respect of contracts which have become onerous at the reporting date. No provision has been made for the future costs of terminating the business unless such costs were committed at the reporting date.
Turnover comprises revenue recognised by the Company in respect of goods and services supplied during the year to residents of the nursing home.
Turnover is recognised when services are provided.
Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.
Page 3
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ADBOLTON HALL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
2.Accounting policies (continued)
Defined contribution pension plan
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 payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
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.
The average monthly number of employees, including the directors, during the year was 3 (2023: 16).
Page 4
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ADBOLTON HALL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
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Prepayments and accrued income
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An impairment against trade debtors has been recognised during the year totaling £Nil (2023: £4,165).
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Accruals and deferred income
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Allotted, called up and fully paid
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1 (2023 - 1) Ordinary Share of £1 each share of £1.00
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Page 5
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ADBOLTON HALL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
Cross guarantees to the bank exist over group assets to secure group borrowings. At the year end, the group indebtedness to the bank totalled £8,863,239 (2023: £9,352,322).
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £Nil (2023: £3,297) . Contributions totaling £Nil (2023: £288) were payable to the fund at the balance sheet date and are included in creditors.
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Related party transactions
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The Company has taken advantage of the exemptions available with FRS 102 not to disclose details of any transactions between itself and fellow Group undertakings on the basis that it is a subsidiary undertaking where 100% of the voting rights are controlled within the Group whose consolidated financial statements are publicly available.
Key management remuneration totalled £Nil (2023: £19,113) during the year.
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The Company's immediate parent company is MPS Care Limited by virtue of owning the entire issued share capital of the Company. The Company's ultimate parent company is MPS Care Group Limited, registered office:Sturgate Business Hub, Sturgate Airfield, Heapham, Gainsborough, Lincolnshire, DN21 5PA.
The ultimate controlling party is P Gray by virtue of owning the entire issued capital of MPS Care Group Limited.
The auditors' report on the financial statements for the year ended 30 April 2024 was unqualified.
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In their report, the auditors emphasised the following matter without qualifying their report:
We draw attention to Note 2.2 to the financial statements which explains that the directors intend to liquidate the company and therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly, the financial statements have been prepared on a basis other than going concern as described in Note 2.2. Our opinion is not modified in respect of this matter.
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The audit report was signed on 28 January 2025 by James Delve (Senior Statutory Auditor) on behalf of PKF Smith Cooper Audit Limited.
Page 6
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