| REGISTERED NUMBER: |
| STRATEGIC REPORT, |
| REPORT OF THE DIRECTOR AND |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| FOR |
| ASPREY HEALTHCARE LIMITED |
| REGISTERED NUMBER: |
| STRATEGIC REPORT, |
| REPORT OF THE DIRECTOR AND |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| FOR |
| ASPREY HEALTHCARE LIMITED |
| ASPREY HEALTHCARE LIMITED (REGISTERED NUMBER: 08818432) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| Page |
| Company Information | 1 |
| Strategic Report | 2 |
| Report of the Director | 4 |
| Report of the Independent Auditors | 5 |
| Statement of Income and Retained Earnings | 8 |
| Balance Sheet | 9 |
| Cash Flow Statement | 10 |
| Notes to the Cash Flow Statement | 11 |
| Notes to the Financial Statements | 13 |
| ASPREY HEALTHCARE LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Sterling House |
| 27 Hatchlands Road |
| Redhill |
| Surrey |
| RH1 6RW |
| ASPREY HEALTHCARE LIMITED (REGISTERED NUMBER: 08818432) |
| STRATEGIC REPORT |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| The director presents his strategic report for the year ended 31 March 2025. |
| REVIEW OF BUSINESS |
| The principal activity of the company continued to be that of operating care homes. |
| Turnover for the year has increased by 33.3% and gross profit margin has improved to 47.0% from 45.4% in 2023/24. Whilst overheads have risen slightly, finance costs have fallen noticeably from prior year levels. Overall, a net profit after tax of £650,203 (2024: net loss of £146,509) has been made. |
| PRINCIPAL RISKS AND UNCERTAINTIES |
| The director and Financial Controller constantly monitor the risks and uncertainties facing the company with particular reference to the exposure on cashflow liquidity, staffing, interest rates and credit risks. He is confident that there are suitable policies in place to mitigate these and there are no material risks and uncertainties which have not been considered in advance. |
| The company uses various financial instruments which include cash and other items, such as trade debtors and trade creditors and monitors liquidity issues that can arise directly from its operations. The main purpose of these financial instruments is to raise finance for the company's operations. The existence of these financial instruments exposes the company to a number of financial risks, which are described in more detail below. |
| The main risk arising from the company's financial instruments is liquidity risk. The director reviews and agrees policies for managing this risk which is summarised below. This policy has remained unchanged from previous years. |
| LIQUIDITY RISK |
| The company seeks to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs and to invest cash into assets of the business prudently and ultimately for long-term profit. The company's policy throughout the year has been to achieve this objective through the day-to-day involvement of management teams in business decisions, rather than through setting maximum or minimum liquidity ratios. |
| MEASURING PERFORMANCE |
| The director uses a number of measures, both financial and non-financial to monitor and benchmark the performance of the company. He regards the following as the key financial indicators of performance. |
| - Sales maximization by managing average weekly room fee rates, to levellers that ultimately support operating profit - measuring the profits generated by the company's operations. |
| - Net cash flow from operating activities - measuring the performance in translating operating profit into cash flow through management of working capital. |
| The key non-financial indicators are associated with the company's ability to increase and maintain its occupancy rates. |
| FINANCIAL RESULTS |
| The results for the year and the financial position at the year-end were considered acceptable by the director who expects an increased rate of growth in the coming financial years. |
| ASPREY HEALTHCARE LIMITED (REGISTERED NUMBER: 08818432) |
| STRATEGIC REPORT |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| FUTURE PLANS |
| The director will continue to grow and develop the business in the future. |
| ON BEHALF OF THE BOARD: |
| ASPREY HEALTHCARE LIMITED (REGISTERED NUMBER: 08818432) |
| REPORT OF THE DIRECTOR |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| The director presents his report with the financial statements of the company for the year ended 31 March 2025. |
| DIVIDENDS |
| No dividends will be distributed for the year ended 31 March 2025. |
| DIRECTOR |
| STATEMENT OF DIRECTOR'S RESPONSIBILITIES |
| The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations. |
| Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to: |
| - | select suitable accounting policies and then apply them consistently; |
| - | make judgements and accounting estimates that are reasonable and prudent; |
| - | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
| The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
| STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
| So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
| AUDITORS |
| The auditors, GBJ Financial Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
| ON BEHALF OF THE BOARD: |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| ASPREY HEALTHCARE LIMITED |
| Opinion |
| We have audited the financial statements of Asprey Healthcare Limited (the 'company') for the year ended 31 March 2025 which comprise the Statement of Income and Retained Earnings, Balance Sheet, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
| In our opinion the financial statements: |
| - | give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit for the year then ended; |
| - | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
| - | have been prepared in accordance with the requirements of the Companies Act 2006. |
| Basis for opinion |
| We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
| Conclusions relating to going concern |
| In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
| Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
| Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report. |
| Other information |
| The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon. |
| Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
| In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| ASPREY HEALTHCARE LIMITED |
| Opinions on other matters prescribed by the Companies Act 2006 |
| In our opinion, based on the work undertaken in the course of the audit: |
| - | the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
| - | the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements. |
| Matters on which we are required to report by exception |
| In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Director. |
| We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
| - | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
| - | the financial statements are not in agreement with the accounting records and returns; or |
| - | certain disclosures of director's remuneration specified by law are not made; or |
| - | we have not received all the information and explanations we require for our audit. |
| Responsibilities of director |
| As explained more fully in the Statement of Director's Responsibilities set out on page four, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
| In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so. |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| ASPREY HEALTHCARE LIMITED |
| Auditors' responsibilities for the audit of the financial statements |
| Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
| Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities outlined above, to detect material misstatements in respect of irregularities, including fraud. |
| We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to posting inappropriate journal entries and management bias in accounting estimates. Audit procedures performed by the engagement team included: |
| - Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulations and fraud; |
| - Reviewing minutes of meetings between those charged with governance. |
| - Challenging assumptions and judgements made by management in determining their significant accounting estimates. |
| - Challenging why certain items are excluded or included from the underlying profit. |
| - Reviewing journal entries for appropriateness and to identify any unusual accounting entries. |
| There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. |
| A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
| Use of our report |
| This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
| for and on behalf of |
| Sterling House |
| 27 Hatchlands Road |
| Redhill |
| Surrey |
| RH1 6RW |
| ASPREY HEALTHCARE LIMITED (REGISTERED NUMBER: 08818432) |
| STATEMENT OF INCOME AND RETAINED EARNINGS |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 2025 | 2024 |
| Notes | £ | £ |
| TURNOVER | 3 |
| Cost of sales |
| GROSS PROFIT |
| Administrative expenses |
| OPERATING PROFIT | 5 |
| Interest receivable and similar income |
| 1,553,353 | 911,126 |
| Interest payable and similar expenses | 6 |
| PROFIT/(LOSS) BEFORE TAXATION | ( |
) |
| Tax on profit/(loss) | 7 |
| PROFIT/(LOSS) FOR THE FINANCIAL YEAR |
( |
) |
| Retained earnings at beginning of year |
| RETAINED EARNINGS AT END OF YEAR |
| ASPREY HEALTHCARE LIMITED (REGISTERED NUMBER: 08818432) |
| BALANCE SHEET |
| 31 MARCH 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 8 |
| CURRENT ASSETS |
| Debtors | 9 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 10 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
11 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 13 |
| Retained earnings | 14 |
| SHAREHOLDERS' FUNDS |
| The financial statements were approved by the director and authorised for issue on |
| ASPREY HEALTHCARE LIMITED (REGISTERED NUMBER: 08818432) |
| CASH FLOW STATEMENT |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 2025 | 2024 |
| Notes | £ | £ |
| Cash flows from operating activities |
| Cash generated from operations | 1 |
| Interest paid | ( |
) | ( |
) |
| Tax paid |
| Net cash from operating activities | ( |
) |
| Cash flows from investing activities |
| Purchase of tangible fixed assets | ( |
) | ( |
) |
| Interest received |
| Net cash from investing activities | ( |
) | ( |
) |
| Cash flows from financing activities |
| New loans in year |
| Loan repayments in year | ( |
) | ( |
) |
| Amount introduced by directors | - | 2,137,962 |
| Amount withdrawn by directors | (3,675,476 | ) | (1,000 | ) |
| Net cash from financing activities | ( |
) |
| Decrease in cash and cash equivalents | ( |
) | ( |
) |
| Cash and cash equivalents at beginning of year |
2 |
130,799 |
| Cash and cash equivalents at end of year |
2 |
( |
) |
84,635 |
| ASPREY HEALTHCARE LIMITED (REGISTERED NUMBER: 08818432) |
| NOTES TO THE CASH FLOW STATEMENT |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 1. | RECONCILIATION OF PROFIT/(LOSS) BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
| 2025 | 2024 |
| £ | £ |
| Profit/(loss) before taxation | ( |
) |
| Depreciation charges |
| Finance costs | 903,150 | 1,057,635 |
| Finance income | (332 | ) | (1,937 | ) |
| 1,632,187 | 990,663 |
| (Increase)/decrease in trade and other debtors | ( |
) |
| Decrease in trade and other creditors | ( |
) | ( |
) |
| Cash generated from operations |
| 2. | CASH AND CASH EQUIVALENTS |
| The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts: |
| Year ended 31 March 2025 |
| 31.3.25 | 1.4.24 |
| £ | £ |
| Cash and cash equivalents | 518 | 84,635 |
| Bank overdrafts | ( |
) |
| (5,388 | ) | 84,635 |
| Year ended 31 March 2024 |
| 31.3.24 | 1.4.23 |
| £ | £ |
| Cash and cash equivalents | 84,635 | 130,799 |
| ASPREY HEALTHCARE LIMITED (REGISTERED NUMBER: 08818432) |
| NOTES TO THE CASH FLOW STATEMENT |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 3. | ANALYSIS OF CHANGES IN NET DEBT |
| At 1.4.24 | Cash flow | At 31.3.25 |
| £ | £ | £ |
| Net cash |
| Cash at bank and in hand | 84,635 | (84,117 | ) | 518 |
| Bank overdrafts | - | (5,906 | ) | (5,906 | ) |
| 84,635 | ( |
) | (5,388 | ) |
| Debt |
| Debts falling due within 1 year | (387,500 | ) | 5,500 | (382,000 | ) |
| Debts falling due after 1 year | (4,000,000 | ) | (3,064,500 | ) | (7,064,500 | ) |
| (4,387,500 | ) | (3,059,000 | ) | (7,446,500 | ) |
| Total | (4,302,865 | ) | (3,149,023 | ) | (7,451,888 | ) |
| ASPREY HEALTHCARE LIMITED (REGISTERED NUMBER: 08818432) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 1. | STATUTORY INFORMATION |
| Asprey Healthcare Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Critical accounting judgements and key sources of estimation uncertainty |
| In the application of the company's accounting policies, the directors are required to make judgements, estimates, and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
| The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods |
| Critical judgements: The following critical judgements (apart from those involving estimates)have had the most significant effect on amounts recognised in the financial statements. |
| Treatment of leases |
| Determine whether leases entered into by the company either as a lessor or a lease are operating leases or finance leases These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lease on a lease by lease basis. |
| Tangible fixed assets |
| Tangible fixed assets, other than investment properties, are depreciated over their useful lives ing into account residual values, where appropriate. The actual lives of the assets and residual value are assessed annually and may vary depending upon a number of factors. |
| In reassessing asset lives, factors such as technological innovation, product life-cycle and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values. Regular reviews are carried out to determine whether there are indicators of impairment of the company's tangible fixed assets. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Computer equipment | - |
| ASPREY HEALTHCARE LIMITED (REGISTERED NUMBER: 08818432) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| 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. |
| 3. | TURNOVER |
| The turnover and profit (2024 - loss) before taxation are attributable to the one principal activity of the company. |
| An analysis of turnover by class of business is given below: |
| 2025 | 2024 |
| £ | £ |
| An analysis of turnover by geographical market is given below: |
| 2025 | 2024 |
| £ | £ |
| United Kingdom |
| 4. | EMPLOYEES AND DIRECTORS |
| 2025 | 2024 |
| £ | £ |
| Wages and salaries |
| Social security costs |
| Other pension costs |
| ASPREY HEALTHCARE LIMITED (REGISTERED NUMBER: 08818432) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 4. | EMPLOYEES AND DIRECTORS - continued |
| The average number of employees during the year was as follows: |
| 2025 | 2024 |
| Employees |
| 2025 | 2024 |
| £ | £ |
| Director's remuneration |
| 5. | OPERATING PROFIT |
| The operating profit is stated after charging: |
| 2025 | 2024 |
| £ | £ |
| Depreciation - owned assets |
| Auditors' remuneration |
| 6. | INTEREST PAYABLE AND SIMILAR EXPENSES |
| 2025 | 2024 |
| £ | £ |
| Bank loan interest |
| Directors loan interest |
| 7. | TAXATION |
| Analysis of the tax charge |
| No liability to UK corporation tax arose for the year ended 31 March 2025 nor for the year ended 31 March 2024. |
| ASPREY HEALTHCARE LIMITED (REGISTERED NUMBER: 08818432) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 8. | TANGIBLE FIXED ASSETS |
| Freehold | Long | Plant and |
| property | leasehold | machinery |
| £ | £ | £ |
| COST |
| At 1 April 2024 |
| Additions |
| At 31 March 2025 |
| DEPRECIATION |
| At 1 April 2024 |
| Charge for year |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| Fixtures |
| and | Motor | Computer |
| fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 April 2024 |
| Additions |
| At 31 March 2025 |
| DEPRECIATION |
| At 1 April 2024 |
| Charge for year |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| ASPREY HEALTHCARE LIMITED (REGISTERED NUMBER: 08818432) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Prepayments |
| 10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans and overdrafts (see note 12) |
| Trade creditors |
| Social security and other taxes |
| Other creditors |
| Directors' loan accounts | 3,727,109 | 7,402,585 |
| Accrued expenses |
| Deferred income | 73,993 | 17,851 |
| 11. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans (see note 12) |
| 12. | LOANS |
| Bank borrowings are secured by fixed and floating charges over all the assets of the company including freehold and leasehold properties. |
| 13. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2025 | 2024 |
| value: | £ | £ |
| Ordinary | 1 | 200 | 200 |
| ASPREY HEALTHCARE LIMITED (REGISTERED NUMBER: 08818432) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 14. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 April 2024 |
| Profit for the year |
| At 31 March 2025 |
| 15. | PENSION COMMITMENTS |
| The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £49,809 (2024: £39,601). Contributions totalling £NIL (2024: £6,969) were payable to the fund at the balance sheet date and are included in creditors. |
| 16. | RELATED PARTY DISCLOSURES |
| During the year the company had an outstanding loan account with the director P M Connell. Debits totalling £3,675,476 (2024: £NIL) were made to the loan account. At the year end, the company owed P M Connell £3,727,109 (2024: £7,402,585). |
| 17. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is |