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Registration number: 06721124

Abholly (2008) Limited

Annual Report and Financial Statements

for the Year Ended 31 October 2024

image-name
 

Abholly (2008) Limited

Contents

Company Information

1

Strategic Report

2

Directors' Report

3

Independent Auditor's Report

4 to 7

Statement of Comprehensive Income

8

Statement of Financial Position

9

Statement of Changes in Equity

10

Statement of Cash Flows

11

Notes to the Financial Statements

12 to 21

 

Abholly (2008) Limited

Company Information

Directors

Mr Kevin Briscoe

Mr Robert Briscoe

Company secretary

Mrs Susan Briscoe

Registered office

Plym House, 3 Longbridge Road
Marsh Mills
Plymouth
Devon
PL6 8LT

Auditors

Westcotts (SW) LLP
Chartered accountantsPlym House
3 Longbridge Road
Plymouth
Marsh Mills
Devon
PL6 8LT

 

Abholly (2008) Limited

Strategic Report for the Year Ended 31 October 2024

The directors present their strategic report for the year ended 31 October 2024.

Fair review of the business

Turnover for the company increased by 10.6% from the prior period. On average Hartley Park care home had an occupancy of 98.2%, which is an increase from 96.2% in 2023. As at the end of October 2024 65 of 66 rooms were occupied.

The gross profit margin has increased slightly from the prior period due to the efficiencies from having a consistently higher occupancy rate.

Net current assets increased by 16.2% and net assets increased by 14.4% from the prior year due to the positive results from the period.

The company's key financial and other performance indicators during the year were as follows:

Financial KPIs

Unit

2024

2023

Turnover

£

3,871,095

3,498,784

Gross profit

£

1,330,776

1,143,763

Gross profit margin

%

34.4

32.7

Net profit

£

619,423

518,789

Net profit margin

%

16

14.8

Net assets

£

4,914,582

4,295,159

Principal risks and uncertainties

Management consider that the principal risk to the business would be a negative review from a Care Quality Commission inspection that could result in enforcement action and the subsequent impact on the reputation of the home. To mitigate this risk all care staff are trained to a high level and there is a focus on retaining high quality staff that management trust, together with a compliance manager as part of the team.

The company also considers a major financial risk of the business to be linked to the funding received from local authorities and the associated risks regarding cutbacks of public funding, along with falls in occupancy levels and privately funded residents. To mitigate these risks the company has a mix of both privately and publicly funded residents and seeks to build upon its excellent reputation through retention of its high quality staff.

Approved and authorised by the Board on 23 July 2025 and signed on its behalf by:
 

.........................................
Mr Kevin Briscoe
Director

 

Abholly (2008) Limited

Directors' Report for the Year Ended 31 October 2024

The directors present their report and the financial statements for the year ended 31 October 2024.

Directors of the company

The directors who held office during the year were as follows:

Mr Kevin Briscoe

Mr Robert Briscoe

Statement of Director's Responsibilities

The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have 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 directors must not approve the financial statements unless they are 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 directors are required to:

select suitable accounting policies and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are 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 them to ensure that the financial statements comply with the Companies Act 2006. They are 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.

Events after the end of the reporting period

Occupancy levels as at the end of February 2025 for Hartley Park was 95%, with residents occupying 63 of the 66 rooms.The level since the end of the period has been between 94 and 100%. Looking ahead to next year the homes are seeing a similar occupancy level as the 2023/24 year and are hoping this will stay close to 100% occupancy. Therefore the accounts are prepared on the going concern basis.

Disclosure of information to the auditors

Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.

Approved and authorised by the Board on 23 July 2025 and signed on its behalf by:
 


Mr Kevin Briscoe
Director

 

Abholly (2008) Limited

Independent Auditor's Report to the Members of Abholly (2008) Limited

Opinion

We have audited the financial statements of Abholly (2008) Limited (the 'company') for the year ended 31 October 2024, which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows, and 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 October 2024 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 auditor 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 original financial statements were authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

 

Abholly (2008) Limited

Independent Auditor's Report to the Members of Abholly (2008) Limited (continued)

Opinion on other matter 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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our 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 and the Directors' Report.

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 directors' remuneration specified by law are not made; or

we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the set out on page 3 , the directors are 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 directors determine is 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 directors are 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 directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor 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 an auditor’s report 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.

 

Abholly (2008) Limited

Independent Auditor's Report to the Members of Abholly (2008) Limited (continued)

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

• We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience and through discussion with the directors and other management, no issues were noted. We communicated identified laws and regulations throughout our team, and remained alert to any indications of non-compliance throughout the audit.

• The company is subject to laws and regulations that govern the preparation of the financial statements, including financial reporting legislation, and other companies legislation. The company is also subject to other laws and regulations where the consequences of non-compliance could have a material impact on the amounts or disclosures within the financial statements, including employment, anti-bribery, anti-money laundering and certain aspects of companies legislation relating to health and social care regulations. We identified the following as most likely areas to have such an effect: anti-money laundering, employment and health and social care regulations. The Company's activities are regulated by the Care Quality Commission.

• Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. In any audit, there remains a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. we also:

• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.

 

Abholly (2008) Limited

Independent Auditor's Report to the Members of Abholly (2008) Limited (continued)

Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern.

Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

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 an auditor’s report 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.

......................................
Adam Croney (Senior Statutory Auditor)
For and on behalf of Westcotts (SW) LLP, Statutory Auditor
 Plym House
3 Longbridge Road
Plymouth
Marsh Mills
Devon
PL6 8LT

23 July 2025

 

Abholly (2008) Limited

Statement of Comprehensive Income for the Year Ended 31 October 2024

Note

2024
£

2023
£

Turnover

3

3,871,095

3,498,784

Cost of sales

 

(2,540,319)

(2,355,021)

Gross profit

 

1,330,776

1,143,763

Administrative expenses

 

(478,283)

(451,931)

Operating profit

5

852,493

691,832

Other interest receivable and similar income

6

27,302

26,936

Interest payable and similar expenses

7

(41,575)

(39,954)

   

(14,273)

(13,018)

Profit before tax

 

838,220

678,814

Tax on profit

10

(218,797)

(160,025)

Profit for the financial year

 

619,423

518,789

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Abholly (2008) Limited

(Registration number: 06721124)
Statement of Financial Position as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

11

2,388,283

2,445,571

Current assets

 

Debtors

12

4,159,302

3,288,575

Cash at bank and in hand

 

635,611

767,019

 

4,794,913

4,055,594

Creditors: Amounts falling due within one year

13

(794,631)

(614,258)

Net current assets

 

4,000,282

3,441,336

Total assets less current liabilities

 

6,388,565

5,886,907

Creditors: Amounts falling due after more than one year

13

(1,354,175)

(1,469,075)

Provisions for liabilities

14

(119,808)

(122,673)

Net assets

 

4,914,582

4,295,159

Capital and reserves

 

Called up share capital

4

4

Profit and loss account

16

4,914,578

4,295,155

Shareholders' funds

 

4,914,582

4,295,159

Approved and authorised by the Board on 23 July 2025 and signed on its behalf by:
 


Mr Kevin Briscoe
Director

 

Abholly (2008) Limited

Statement of Changes in Equity for the Year Ended 31 October 2024

Share capital
£

Profit and loss account
£

Total
£

At 1 November 2023

4

4,295,155

4,295,159

Profit for the year

-

619,423

619,423

At 31 October 2024

4

4,914,578

4,914,582

Share capital
£

Profit and loss account
£

Total
£

At 1 November 2022

4

3,776,366

3,776,370

Profit for the year

-

518,789

518,789

At 31 October 2023

4

4,295,155

4,295,159

 

Abholly (2008) Limited

Statement of Cash Flows for the Year Ended 31 October 2024

Note

2024
£

2023
£

Cash flows from operating activities

Profit for the year

 

619,423

518,789

Adjustments to cash flows from non-cash items

 

Depreciation and amortisation

5

93,671

88,104

Profit on disposal of tangible assets

4

(19,756)

-

Finance income

6

(27,302)

(26,936)

Finance costs

7

41,575

39,954

Income tax expense

10

218,797

160,025

 

926,408

779,936

Working capital adjustments

 

Increase in trade debtors

12

(870,727)

(481,288)

Increase in trade creditors

13

209,447

21,000

Cash generated from operations

 

265,128

319,648

Income taxes paid

10

(249,065)

(81,542)

Net cash flow from operating activities

 

16,063

238,106

Cash flows from investing activities

 

Interest received

6

27,302

26,936

Acquisitions of tangible assets

11

(62,627)

(51,907)

Proceeds from sale of tangible assets

 

46,000

-

Net cash flows from investing activities

 

10,675

(24,971)

Cash flows from financing activities

 

Interest paid

7

(41,575)

(39,954)

Repayments from bank borrowing draw downs

 

(116,571)

(118,243)

Net cash flows from financing activities

 

(158,146)

(158,197)

Net (decrease)/increase in cash and cash equivalents

 

(131,408)

54,938

Cash and cash equivalents at 1 November

 

767,019

712,081

Cash and cash equivalents at 31 October

 

635,611

767,019

 

Abholly (2008) Limited

Notes to the Financial Statements for the Year Ended 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The principal place of business is:
Hartley Park Care Home
22 Hartley Road
Plymouth
Devon
PL3 5LW

Principal activity

The principal activity of the company is that of a nursing home.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

 

Abholly (2008) Limited

Notes to the Financial Statements for the Year Ended 31 October 2024 (continued)

2

Accounting policies (continued)

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover relates to income received from residents of the nursing and care homes and income received from the domiciliary care clients. Income from residents of the nursing and care homes and from the domiciliary care clients is recognised, as earned, through the provision of contracted services. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold property

50 years

Plant and machinery

10-25% Straight Line

Fixtures and fittings

20% Straight Line

Motor vehicles

25% Straight Line

 

Abholly (2008) Limited

Notes to the Financial Statements for the Year Ended 31 October 2024 (continued)

2

Accounting policies (continued)

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 

Abholly (2008) Limited

Notes to the Financial Statements for the Year Ended 31 October 2024 (continued)

3

Turnover

The analysis of the company's turnover for the year from continuing operations is as follows:

2024
£

2023
£

Rendering of services

3,871,095

3,491,866

Other revenue

-

6,918

3,871,095

3,498,784

4

Other gains and losses

The analysis of the company's other gains and losses for the year is as follows:

2024
£

2023
£

Gain on disposal of tangible assets

19,756

-

5

Operating profit

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

93,671

88,104

Profit on disposal of property, plant and equipment

(19,756)

-

6

Other interest receivable and similar income

2024
£

2023
£

Interest on Directors Loan Accounts

27,302

26,936

7

Interest payable and similar expenses

2024
£

2023
£

Interest on bank overdrafts and borrowings

41,575

39,904

Interest expense on other finance liabilities

-

50

41,575

39,954

 

Abholly (2008) Limited

Notes to the Financial Statements for the Year Ended 31 October 2024 (continued)

8

Staff costs

The aggregate payroll costs (including directors' remuneration) were as follows:

2024
£

2023
£

Wages and salaries

2,055,204

1,912,704

Social security costs

166,487

151,220

Pension costs, defined contribution scheme

32,334

30,272

Other employee expense

14,437

13,269

2,268,462

2,107,465

The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:

2024
No.

2023
No.

Care Staff

95

104

Management

4

4

99

108

9

Auditors' remuneration

2024
£

2023
£

Audit of the financial statements

3,083

3,231

Other fees to auditors

All other non-audit services

15,256

13,179


 

 

Abholly (2008) Limited

Notes to the Financial Statements for the Year Ended 31 October 2024 (continued)

10

Taxation

Tax charged/(credited) in the statement of comprehensive income

2024
£

2023
£

Current taxation

UK corporation tax

221,662

161,566

Deferred taxation

Arising from origination and reversal of timing differences

(2,865)

(1,541)

Tax expense in the income statement

218,797

160,025

The tax on profit before tax for the year is the same as the standard rate of corporation tax in the UK (2023 - higher than the standard rate of corporation tax in the UK) of 25% (2023 - 22.52%).

The differences are reconciled below:

2024
£

2023
£

Profit before tax

838,220

678,814

Corporation tax at standard rate

209,555

152,869

Tax increase from effect of capital allowances and depreciation

2,826

1,473

Deferred tax credit charged

(2,865)

(1,541)

Other tax effects for reconciliation between accounting profit and tax expense (income)

(3)

(1,124)

Effect of expense not deductible in determining taxable profit (tax loss)

9,284

8,348

Total tax charge

218,797

160,025

 

Abholly (2008) Limited

Notes to the Financial Statements for the Year Ended 31 October 2024 (continued)

11

Tangible assets

Freehold property
£

Plant and machinery
£

Fixtures and fittings
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 November 2023

2,500,072

191,314

354,967

103,805

3,150,158

Additions

1,400

399

5,828

55,000

62,627

Disposals

-

-

-

(52,500)

(52,500)

At 31 October 2024

2,501,472

191,713

360,795

106,305

3,160,285

Depreciation

At 1 November 2023

200,008

134,918

328,946

40,715

704,587

Charge for the year

50,030

11,789

7,930

23,922

93,671

Eliminated on disposal

-

-

-

(26,256)

(26,256)

At 31 October 2024

250,038

146,707

336,876

38,381

772,002

Carrying amount

At 31 October 2024

2,251,434

45,006

23,919

67,924

2,388,283

At 31 October 2023

2,300,064

56,396

26,021

63,090

2,445,571

12

Debtors

2024
£

2023
£

Amounts owed by group undertakings

1,248,870

1,169,976

Other debtors

2,848,194

2,078,232

Prepayments and accrued income

62,238

40,367

4,159,302

3,288,575

 

Abholly (2008) Limited

Notes to the Financial Statements for the Year Ended 31 October 2024 (continued)

13

Creditors

2024
£

2023
£

Due within one year

Loans and borrowings

116,571

118,242

Trade creditors

82,690

73,078

Social security and other taxes

32,488

34,592

Other payables

197,696

10,199

Accruals

231,024

216,582

Corporation tax liability

134,162

161,565

794,631

614,258

Due after one year

Loans and borrowings

1,354,175

1,469,075

14

Provisions for liabilities

Deferred tax
£

Total
£

At 1 November 2023

122,673

122,673

Decrease in existing provisions

(2,865)

(2,865)

At 31 October 2024

119,808

119,808

15

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

4

4

4

4

       

16

Reserves

Profit and loss account

This reserve records retained earnings and accumulated losses.

 

Abholly (2008) Limited

Notes to the Financial Statements for the Year Ended 31 October 2024 (continued)

17

Analysis of changes in net debt

At 1 November 2023
£

Financing cash flows
£

At 31 October 2024
£

Cash and cash equivalents

Cash

767,019

(131,408)

635,611

Borrowings

Long term borrowings

1,469,074

(114,899)

1,354,175

Short term borrowings

118,242

(1,671)

116,571

1,587,316

(116,570)

1,470,746

 

2,354,335

(247,978)

2,106,357

18

Related party transactions

Transactions with directors

2024

At 1 November 2023
£

Advances to director
£

Repayments by director
£

At 31 October 2024
£

Directors

1,292,529

551,073

(163,000)

1,680,602

         

2023

At 1 November 2022
£

Advances to director
£

Repayments by director
£

At 31 October 2023
£

Directors

1,229,764

500,437

(437,672)

1,292,529

         
       

 

Loans to related parties

2024

Parent
£

Other related parties
£

Total
£

At start of period

1,169,976

601,022

1,770,998

Advanced

5,543

186,070

191,613

Repaid

(9,649)

(70,168)

(79,817)

At end of period

1,165,870

716,924

1,882,794

 

Abholly (2008) Limited

Notes to the Financial Statements for the Year Ended 31 October 2024 (continued)

18

Related party transactions (continued)

2023

Parent
£

Other related parties
£

Total
£

At start of period

958,106

309,253

1,267,359

Advanced

217,672

291,769

509,441

Repaid

(5,802)

-

(5,802)

At end of period

1,169,976

601,022

1,770,998

Summary of transactions with other related parties

Other related parties are companies which are owned or controlled by one or more of the directors of Abholly (2008) Limited. No interest is charged on these amounts and they are repayable on demand.