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Company No: 13040210 (England and Wales)

ASHBURTON HOUSE CARE HOME LTD

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

ASHBURTON HOUSE CARE HOME LTD

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

ASHBURTON HOUSE CARE HOME LTD

STATEMENT OF FINANCIAL POSITION

As at 30 September 2024
ASHBURTON HOUSE CARE HOME LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 September 2024
Note 30.09.2024 30.09.2023
£ £
Fixed assets
Intangible assets 3 3 3
Tangible assets 4 2,245,864 2,134,638
2,245,867 2,134,641
Current assets
Debtors 5 102,445 98,152
Cash at bank and in hand 355,028 190,638
457,473 288,790
Creditors: amounts falling due within one year 6 ( 241,035) ( 171,608)
Net current assets 216,438 117,182
Total assets less current liabilities 2,462,305 2,251,823
Creditors: amounts falling due after more than one year 7 ( 1,709,755) ( 1,751,311)
Provision for liabilities ( 151,540) ( 124,501)
Net assets 601,010 376,011
Capital and reserves
Called-up share capital 8 2 2
Revaluation reserve 348,726 348,726
Profit and loss account 252,282 27,283
Total shareholders' funds 601,010 376,011

For the financial year ending 30 September 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Ashburton House Care Home Ltd (registered number: 13040210) were approved and authorised for issue by the Board of Directors on 14 April 2025. They were signed on its behalf by:

Gareth Victor Wraighte
Director
ASHBURTON HOUSE CARE HOME LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
ASHBURTON HOUSE CARE HOME LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, 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 C/O Bishop Fleming Brook House Manor Drive, Clyst St. Mary, Exeter, EX5 1GD, 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 £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

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 year. Differences between contributions payable in the financial year 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 20 % reducing balance
Vehicles 20 % reducing balance
Fixtures and fittings 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.

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

Year ended
30.09.2024
Period from
01.12.2022 to
30.09.2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 24 29

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 October 2023 3 3
At 30 September 2024 3 3
Accumulated amortisation
At 01 October 2023 0 0
At 30 September 2024 0 0
Net book value
At 30 September 2024 3 3
At 30 September 2023 3 3

4. Tangible assets

Land and buildings Plant and machinery Vehicles Fixtures and fittings Total
£ £ £ £ £
Cost
At 01 October 2023 2,004,200 226,579 0 0 2,230,779
Additions 47,320 5,517 73,620 19,691 146,148
At 30 September 2024 2,051,520 232,096 73,620 19,691 2,376,927
Accumulated depreciation
At 01 October 2023 0 96,141 0 0 96,141
Charge for the financial year 0 26,627 6,135 2,160 34,922
At 30 September 2024 0 122,768 6,135 2,160 131,063
Net book value
At 30 September 2024 2,051,520 109,328 67,485 17,531 2,245,864
At 30 September 2023 2,004,200 130,438 0 0 2,134,638

5. Debtors

30.09.2024 30.09.2023
£ £
Trade debtors 39,276 49,198
Amounts owed by directors 51,531 0
Prepayments and accrued income 4,411 41,727
Other debtors 7,227 7,227
102,445 98,152

6. Creditors: amounts falling due within one year

30.09.2024 30.09.2023
£ £
Bank loans 42,000 42,000
Trade creditors 8,008 10,008
Accruals and deferred income 7,893 61,799
Taxation and social security 64,589 9,748
Other creditors 118,545 48,053
241,035 171,608

Security has been given against this loan by way of a fixed and floating charge covering all the property or undertaking of the company.

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

30.09.2024 30.09.2023
£ £
Bank loans 1,709,755 1,751,311

Security has been given against this loan by way of a fixed and floating charge covering all the property or undertaking of the company.

8. Called-up share capital

30.09.2024 30.09.2023
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2

9. Related party transactions

Transactions with the entity's directors

30.09.2024 30.09.2023
£ £
Owed by/(to) the directors 51,531 0

The balance is repayable on demand and interest is charged on overdrawn balances at the HMRC approved rate of 2.25%.