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REGISTERED NUMBER: 11591525 (England and Wales)




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: N Singh





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





REGISTERED NUMBER: 11591525 (England and Wales)





AUDITORS: Luckmans Duckett Parker Limited
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 3,914,604 3,714,604

CURRENT ASSETS
Debtors 5 1,290,173 1,091,893
Cash at bank 95 1,121
1,290,268 1,093,014
CREDITORS
Amounts falling due within one year 6 5,653,856 5,176,237
NET CURRENT LIABILITIES (4,363,588 ) (4,083,223 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(448,984

)

(368,619

)

CREDITORS
Amounts falling due after more than one
year

7

5,882

14,149
NET LIABILITIES (454,866 ) (382,768 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (454,867 ) (382,769 )
(454,866 ) (382,768 )

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 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 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.

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 3,714,604
Additions 200,000
At 31 December 2024 3,914,604
NET BOOK VALUE
At 31 December 2024 3,914,604
At 31 December 2023 3,714,604

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 1,290,173 1,091,893

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Amounts owed to group undertakings 5,239,529 4,761,910
Directors' current accounts 404,327 404,327
5,653,856 5,176,237

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 5,882 10,000
Bank loans - 2-5 years - 4,149
5,882 14,149

8. 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

9. ULTIMATE CONTROLLING PARTY

The controlling party is Armighorn Capital Limited.