Silverfin false false 30/09/2024 01/10/2023 30/09/2024 Gareth Victor Wraighte 12/01/2022 Richard Leonard Wraighte 16/08/2016 31 March 2025 The principal activity of the company during the year was that of a care home. 10330901 2024-09-30 10330901 bus:Director1 2024-09-30 10330901 bus:Director2 2024-09-30 10330901 2023-09-30 10330901 core:CurrentFinancialInstruments 2024-09-30 10330901 core:CurrentFinancialInstruments 2023-09-30 10330901 core:ShareCapital 2024-09-30 10330901 core:ShareCapital 2023-09-30 10330901 core:RetainedEarningsAccumulatedLosses 2024-09-30 10330901 core:RetainedEarningsAccumulatedLosses 2023-09-30 10330901 core:LandBuildings 2023-09-30 10330901 core:LeaseholdImprovements 2023-09-30 10330901 core:PlantMachinery 2023-09-30 10330901 core:FurnitureFittings 2023-09-30 10330901 core:OfficeEquipment 2023-09-30 10330901 core:ComputerEquipment 2023-09-30 10330901 core:LandBuildings 2024-09-30 10330901 core:LeaseholdImprovements 2024-09-30 10330901 core:PlantMachinery 2024-09-30 10330901 core:FurnitureFittings 2024-09-30 10330901 core:OfficeEquipment 2024-09-30 10330901 core:ComputerEquipment 2024-09-30 10330901 core:CurrentFinancialInstruments 1 2024-09-30 10330901 core:CurrentFinancialInstruments 1 2023-09-30 10330901 bus:OrdinaryShareClass1 2024-09-30 10330901 2023-10-01 2024-09-30 10330901 bus:FilletedAccounts 2023-10-01 2024-09-30 10330901 bus:SmallEntities 2023-10-01 2024-09-30 10330901 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 10330901 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 10330901 bus:Director1 2023-10-01 2024-09-30 10330901 bus:Director2 2023-10-01 2024-09-30 10330901 core:LandBuildings core:TopRangeValue 2023-10-01 2024-09-30 10330901 core:LeaseholdImprovements core:TopRangeValue 2023-10-01 2024-09-30 10330901 core:PlantMachinery core:TopRangeValue 2023-10-01 2024-09-30 10330901 core:FurnitureFittings core:TopRangeValue 2023-10-01 2024-09-30 10330901 core:OfficeEquipment core:TopRangeValue 2023-10-01 2024-09-30 10330901 core:ComputerEquipment core:TopRangeValue 2023-10-01 2024-09-30 10330901 2022-11-01 2023-09-30 10330901 core:LandBuildings 2023-10-01 2024-09-30 10330901 core:LeaseholdImprovements 2023-10-01 2024-09-30 10330901 core:PlantMachinery 2023-10-01 2024-09-30 10330901 core:FurnitureFittings 2023-10-01 2024-09-30 10330901 core:OfficeEquipment 2023-10-01 2024-09-30 10330901 core:ComputerEquipment 2023-10-01 2024-09-30 10330901 bus:OrdinaryShareClass1 2023-10-01 2024-09-30 10330901 bus:OrdinaryShareClass1 2022-11-01 2023-09-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 10330901 (England and Wales)

ERMINGTON HOUSE LTD

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

ERMINGTON HOUSE LTD

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

ERMINGTON HOUSE LTD

STATEMENT OF FINANCIAL POSITION

As at 30 September 2024
ERMINGTON HOUSE LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 September 2024
Note 30.09.2024 30.09.2023
£ £
Fixed assets
Tangible assets 3 298,181 342,066
298,181 342,066
Current assets
Debtors 4 90,842 144,428
Cash at bank and in hand 411,366 210,369
502,208 354,797
Creditors: amounts falling due within one year 5 ( 481,669) ( 595,733)
Net current assets/(liabilities) 20,539 (240,936)
Total assets less current liabilities 318,720 101,130
Provision for liabilities ( 7,126) ( 10,671)
Net assets 311,594 90,459
Capital and reserves
Called-up share capital 6 1 1
Profit and loss account 311,593 90,458
Total shareholder's funds 311,594 90,459

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 Ermington House Ltd (registered number: 10330901) were approved and authorised for issue by the Board of Directors on 31 March 2025. They were signed on its behalf by:

Gareth Victor Wraighte
Director
ERMINGTON HOUSE LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
ERMINGTON HOUSE 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

Ermington House 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 over its expected useful life, as follows:

Land and buildings 20 years straight line
Leasehold improvements 20 years straight line
Plant and machinery 5 years straight line
Fixtures and fittings 5 years straight line
Office equipment 5 years straight line
Computer equipment 5 years straight line
Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

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.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

Year ended
30.09.2024
Period from
01.11.2022 to
30.09.2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 29 35

3. Tangible assets

Land and buildings Leasehold improve-
ments
Plant and machinery Fixtures and fittings Office equipment Computer equipment Total
£ £ £ £ £ £ £
Cost
At 01 October 2023 192,200 80,271 87,448 214,087 3,467 2,839 580,312
Additions 0 0 0 14,260 0 0 14,260
At 30 September 2024 192,200 80,271 87,448 228,347 3,467 2,839 594,572
Accumulated depreciation
At 01 October 2023 508 2,007 66,596 163,768 2,528 2,839 238,246
Charge for the financial year 9,610 4,014 5,005 38,823 693 0 58,145
At 30 September 2024 10,118 6,021 71,601 202,591 3,221 2,839 296,391
Net book value
At 30 September 2024 182,082 74,250 15,847 25,756 246 0 298,181
At 30 September 2023 191,692 78,264 20,852 50,319 939 0 342,066

4. Debtors

30.09.2024 30.09.2023
£ £
Trade debtors 18,739 14,800
Amounts owed by directors 3,530 36,356
Prepayments and accrued income 20,511 45,210
Other debtors 48,062 48,062
90,842 144,428

5. Creditors: amounts falling due within one year

30.09.2024 30.09.2023
£ £
Trade creditors 10,170 15,703
Amounts owed to connected companies 147,798 147,798
Amounts owed to directors 155,939 176,939
Other loans 0 184,475
Accruals and deferred income 8,437 57,206
Taxation and social security 129,894 12,121
Other creditors 29,431 1,491
481,669 595,733

6. Called-up share capital

30.09.2024 30.09.2023
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1

7. Related party transactions

Transactions with the entity's directors

30.09.2024 30.09.2023
£ £
Owed by/(to) the directors (152,409) (168)

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