| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| FOR |
| ASPEN HILL HEALTHCARE PROPERTY LIMITED |
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| FOR |
| ASPEN HILL HEALTHCARE PROPERTY LIMITED |
| ASPEN HILL HEALTHCARE PROPERTY LIMITED (REGISTERED NUMBER: 11591525) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 31 December 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| ASPEN HILL HEALTHCARE PROPERTY LIMITED |
| COMPANY INFORMATION |
| for the year ended 31 December 2024 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| 1110 Elliott Court |
| Coventry Business Park |
| Herald Avenue |
| Coventry |
| West Midlands |
| CV5 6UB |
| ASPEN HILL HEALTHCARE PROPERTY LIMITED (REGISTERED NUMBER: 11591525) |
| BALANCE SHEET |
| 31 December 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| ( |
) | ( |
) |
| The financial statements were approved by the director and authorised for issue on |
| ASPEN HILL HEALTHCARE PROPERTY LIMITED (REGISTERED NUMBER: 11591525) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 31 December 2024 |
| 1. | STATUTORY INFORMATION |
| Aspen Hill Healthcare Property Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going concern |
| The financial statements for the year ended 31 December 2024 have been prepared on a going concern basis. |
| The Company has made a profit for the year but continues to show net current liabilities and net liabilities at the balance sheet date. The Company has substantial debt from key stakeholders who have been supportive of the business through COVID and the subsequent rebuilding post pandemic. |
| In the post-covid period both occupancy and profitability have recovered substantially. The Group embarked on a recruitment programme which impacted profitability initially but has now provided the business with a permanent, suitably qualified, and stable workforce. Recent CQC inspections have resulted in the Company now having the majority of its services rated Good following a focus by the management on quality standards. |
| The Company is closely managing its cash flow position. Accordingly, the directors have prepared cashflow forecasts from the date of signing these financial statements to 31 December 2025 which demonstrate cash flow can be managed well, once clear steps have been completed. The Company has lending in place with a new lender who has agreed to finance the Aspen Hill trade and associated property company. This will enable the companies to operate well inside their own cash flow requirements and borrowing facilities. |
| The Directors believe that the business will continue as a going concern. |
| Turnover |
| Turnover is measured at the fair value of the rent received or receivable. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| ASPEN HILL HEALTHCARE PROPERTY LIMITED (REGISTERED NUMBER: 11591525) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 December 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2023 - NIL). |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 January 2024 |
| Additions |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Amounts owed by group undertakings |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts |
| Amounts owed to group undertakings |
| Directors' current accounts | 404,327 | 404,327 |
| ASPEN HILL HEALTHCARE PROPERTY LIMITED (REGISTERED NUMBER: 11591525) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 December 2024 |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| 8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 9. | ULTIMATE CONTROLLING PARTY |
| The controlling party is Armighorn Capital Limited. |