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REGISTERED NUMBER: 11591710 (England and Wales)




FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

ASPEN HILL HEALTHCARE LIMITED

ASPEN HILL HEALTHCARE LIMITED (REGISTERED NUMBER: 11591710)






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 LIMITED

COMPANY INFORMATION
for the year ended 31 December 2024







DIRECTOR: N Singh





REGISTERED OFFICE: Aspen Hill Village
Church Street
Leeds
LS10 2AY





REGISTERED NUMBER: 11591710 (England and Wales)





AUDITORS: Luckmans Duckett Parker Limited
Chartered Accountants
Statutory Auditors
1110 Elliott Court
Herald Avenue
Coventry Business Park
Coventry
West Midlands
CV5 6UB

ASPEN HILL HEALTHCARE LIMITED (REGISTERED NUMBER: 11591710)

BALANCE SHEET
31 December 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 283,023 338,145
283,023 338,145

CURRENT ASSETS
Debtors 6 2,840,608 2,719,309
Cash at bank 120,391 143,942
2,960,999 2,863,251
CREDITORS
Amounts falling due within one year 7 3,504,014 4,301,698
NET CURRENT LIABILITIES (543,015 ) (1,438,447 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(259,992

)

(1,100,302

)

CREDITORS
Amounts falling due after more than one
year

8

33,323

88,287
NET LIABILITIES (293,315 ) (1,188,589 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (293,316 ) (1,188,590 )
(293,315 ) (1,188,589 )

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 May 2025 and were signed by:





N Singh - Director


ASPEN HILL HEALTHCARE LIMITED (REGISTERED NUMBER: 11591710)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2024

1. STATUTORY INFORMATION

Aspen Hill Healthcare Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents fees receivable in respect of residential care services provided to residents.Turnover is recognised to the extent that performance occurs and is measured at fair value of the fees receivable. Fees not invoiced to residents by the balance sheet date are included in debtors as accrued income. Fees invoiced to residents in advance of future periods are included in creditors as deferred income.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

ASPEN HILL HEALTHCARE LIMITED (REGISTERED NUMBER: 11591710)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - straight line
Computer equipment - Straight line over 3 years

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand that are readily convertible to a known amount of cash and are subject to insignificant risk to changes in value. These are shown as current assets.

Bank overdrafts are shown within borrowings in current liabilities in the balance sheet.

Short term creditors
Short term creditors with no stated interest rate that are payable within one year are stated at transaction price. Any losses from impairment are recognised in the profit and loss account.

Loans and borrowing
Bank loans and borrowing are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method less impairment. Loans and borrowings that are receivable within one year are not discounted. If an arrangement constitutes a finance transaction it is measured at present value of future payments discounted at a market rate of interest for a similar loan.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 248 (2023 - 223 ) .

ASPEN HILL HEALTHCARE LIMITED (REGISTERED NUMBER: 11591710)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 1
AMORTISATION
At 1 January 2024
and 31 December 2024 1
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 January 2024 810,985 77,752 888,737
Additions 106,471 - 106,471
At 31 December 2024 917,456 77,752 995,208
DEPRECIATION
At 1 January 2024 472,840 77,752 550,592
Charge for year 161,593 - 161,593
At 31 December 2024 634,433 77,752 712,185
NET BOOK VALUE
At 31 December 2024 283,023 - 283,023
At 31 December 2023 338,145 - 338,145

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 503,202 533,156
Amounts owed by group undertakings - 2,013,653
Other debtors 1,997,658 172,500
Tax 325,000 -
Prepayments and accrued income 14,748 -
2,840,608 2,719,309

ASPEN HILL HEALTHCARE LIMITED (REGISTERED NUMBER: 11591710)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,380
Other loans 50,000 50,000
Trade creditors 506,879 835,723
Amounts owed to group undertakings 1,600,909 1,659,629
Social security and other taxes 572,825 956,492
Other creditors 95,303 99,736
Directors' current accounts 632,901 638,546
Accrued expenses 35,197 51,192
3,504,014 4,301,698

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 5,000 10,380
Bank loans - 2-5 years - 4,240
Other loans - 1-2 years 28,323 50,000
Other loans - 2-5 years - 16,667
Other creditors - 7,000
33,323 88,287

9. SECURED DEBTS

A fixed and floating charge over the assets of the company exists in relation to a loan in the parent company.

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mark Spafford FCA FCCA (Senior Statutory Auditor)
for and on behalf of Luckmans Duckett Parker Limited

11. RELATED PARTY DISCLOSURES

During the year, the company loaned £nil (2023: £1,000) to a healthcare company controlled by one of the directors. At the balance sheet date amount owed to the company is £172,500 (2023: £172,500).

During the year, the company loaned £2,000 (2023: £nil) to a healthcare company controlled by one of the directors. At the balance sheet date amount owed to the company is £2,000 (2023: £nil).

12. ULTIMATE CONTROLLING PARTY

The controlling party is Armighorn Capital Limited.