REGISTERED NUMBER: 08174128 (England and Wales)

Unaudited Financial Statements for the Year Ended 31st December 2024

for

Ascot Rehabilitation Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Dr A Y M J Al-Memar

REGISTERED OFFICE:

1 College Fields

16 Prince George's Road

London

London

SW19 2PT

REGISTERED NUMBER:

08174128 (England and Wales)

ACCOUNTANTS:

Sampson Fielding Ltd

34 - 35 Clarges Street

Mayfair

London

W1J 7EJ

FIXED ASSETS

Tangible assets

4

1,919,444

1,131,098

Investments

5

156,250

156,250

2,075,694

1,287,348

CURRENT ASSETS

Debtors

6

1,632,744

1,854,352

Cash at bank and in hand

6,185

51,900

1,638,929

1,906,252

CREDITORS

Amounts falling due within one year

7

2,292,875

1,236,345

NET CURRENT (LIABILITIES)/ASSETS

(653,946

)

669,907

TOTAL ASSETS LESS CURRENT LIABILITIES

1,421,748

1,957,255

CREDITORS

Amounts falling due after more than one year

8

(1,024,128

)

(866,798

)

PROVISIONS FOR LIABILITIES

(12,884

)

(44,687

)

NET ASSETS

384,736

1,045,770

CAPITAL AND RESERVES

Called up share capital

2,000

2,000

Retained earnings

382,736

1,043,770

SHAREHOLDERS' FUNDS

384,736

1,045,770

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 26th September 2025 and were signed by:

Dr A Y M J Al-Memar - Director

1.	STATUTORY INFORMATION

Ascot Rehabilitation Ltd 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.

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.

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

The financial statements are prepared in Pound Sterling which is the functional currency of the company and rounded to nearest pound.

Turnover

Turnover comprises revenue recognised by the company in respect of goods and services supplied during the period, exclusive of Value Added Tax and trade discounts.

Services provided to patients are recognised as turnover according to the date when the treatments are provided.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

33% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

20% on cost

Investments in associates

Investments in associate undertakings are recognised at cost.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension costs

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.

Debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through the profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Going concern

These financial statements have been prepared on the going concern basis, which presumes that the company is able to continue in operational existence for the foreseeable future and will be able to meet its commitments to the repayment of capital and interest on the loans provided to the company as they fall due.

The company is also reliant upon the continued support of its directors and fellow associated companies.

If the company is unable to continue to generate sufficient cashflows or if fellow associated companies are unable to continue to support the company it may be unable to continue in operational existence. Adjustments would then have to be made to reduce the balance sheet values of assets to their recoverable amounts and to provide for any further liabilities that may arise. The company is unable to quantify the effect of such adjustments on the financial statements.

The director believes that it is appropriate for the financial statements to be prepared on the going concern

basis.

The Company acts as guarantor as noted separately below. The director believes that such support is in the best interest of the Company and it is appropriate for the financial statements to be prepared on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2023 - 35 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

COST

At 1st January 2024

57,615

616,104

651,500

Additions

-

687,593

332,798

Disposals

-

-

-

At 31st December 2024

57,615

1,303,697

984,298

DEPRECIATION

At 1st January 2024

11,523

111,042

649,607

Charge for year

11,523

356,185

108,447

Eliminated on disposal

-

(3,752

)

-

At 31st December 2024

23,046

463,475

758,054

NET BOOK VALUE

At 31st December 2024

34,569

840,222

226,244

At 31st December 2023

46,092

505,062

1,893

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1st January 2024

757,502

63,275

126,032

2,272,028

Additions

514,346

-

3,267

1,538,004

Disposals

-

(31,555

)

-

(31,555

)

At 31st December 2024

1,271,848

31,720

129,299

3,778,477

DEPRECIATION

At 1st January 2024

224,539

48,812

95,407

1,140,930

Charge for year

250,839

-

11,953

738,947

Eliminated on disposal

-

(17,092

)

-

(20,844

)

At 31st December 2024

475,378

31,720

107,360

1,859,033

NET BOOK VALUE

At 31st December 2024

796,470

-

21,939

1,919,444

At 31st December 2023

532,963

14,463

30,625

1,131,098

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows:

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1st January 2024

-

-

466,023

Additions

32,595

325,702

464,907

At 31st December 2024

32,595

325,702

930,930

DEPRECIATION

At 1st January 2024

-

-

16,796

Charge for year

7,243

106,262

211,221

Eliminated on disposal

-

-

-

At 31st December 2024

7,243

106,262

228,017

NET BOOK VALUE

At 31st December 2024

25,352

219,440

702,913

At 31st December 2023

-

-

449,227

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1st January 2024

31,555

-

497,578

Additions

-

3,040

826,244

Disposals

(31,555

)

-

(31,555

)

At 31st December 2024

-

3,040

1,292,267

DEPRECIATION

At 1st January 2024

17,092

-

33,888

Charge for year

-

507

325,233

Eliminated on disposal

(17,092

)

-

(17,092

)

At 31st December 2024

-

507

342,029

NET BOOK VALUE

At 31st December 2024

-

2,533

950,238

At 31st December 2023

14,463

-

463,690

5.	FIXED ASSET INVESTMENTS

Interest

in

Other

associate

investments

Totals

£

£

£

COST

At 1st January 2024

and 31st December 2024

10

156,240

156,250

NET BOOK VALUE

At 31st December 2024

10

156,240

156,250

At 31st December 2023

10

156,240

156,250

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

£

Trade debtors

911,200

1,098,792

Amounts owed by group undertakings

242,525

242,525

Amounts owed by participating interests

2,784

60,782

Other debtors

476,235

452,253

1,632,744

1,854,352

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

£

Bank loans and overdrafts (see note 9)

620,538

369,584

Hire purchase contracts and finance leases

427,895

108,782

Trade creditors

663,576

410,255

Taxation and social security

194,322

129,751

Other creditors

386,544

217,973

2,292,875

1,236,345

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/12/24

31/12/23

£

£

Bank loans (see note 9)

373,965

498,163

Hire purchase contracts and finance leases

650,163

368,635

1,024,128

866,798

9.

LOANS

An analysis of the maturity of loans is given below:

31/12/24

31/12/23

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

223,527

189,759

Bank loans

397,011

179,825

620,538

369,584

Amounts falling due between two and five years:

Bank loans - 2-5 years

373,965

498,163

In August 2021 the company obtained a loan from Funding Circle under the government backed Covid Recovery Loan Scheme. The loan is repayable by installments until July 2025. Interest is at a rate of 10.9%.

In November 2023 the company obtained a loan from Funding Circle for £225,545. The loan is repayable by installments until November 2027. Interest is at a rate of 16.9%.The directors provided personal guarantees as security.

In November 2023 the company obtained a loan from Iwoca Ltd for £310,000. The loan is repayable by installments until November 2027. Interest is at a rate of 22.8%. The directors provided personal guarantees as security.

During 2024 the company obtained 9 new loans from various financial institutions amounting to £468,770. All those loans are due to be fully repaid by November 2027. The directors provided personal guarantees as security for those new loans.

10.	SECURED DEBTS

The following secured debts are included within creditors:

31/12/24

31/12/23

£

£

Bank loans

770,976

677,988

11.	OTHER FINANCIAL COMMITMENTS

The company acts as a guarantor to a lease agreement signed by a joint venture company (Sterling Healthcare Group Ltd) on 1st October 2020. That lease agreement covered the period from 1 October 2020 to 7 June 2047, with a rent of £189,688 per annum.

The company signed a lease agreement in August 2021 for a property that it sub-leased to NAFS Health Consultancy & Training Ltd, a company that Ascot Rehabilitation Ltd is a shareholder. The lease ceased on 31 August 2023. The monthly rent was £495 per month.

The company signed a property lease on 6 January 2023 for a property located at Aldrington Road (SW16). The lease commitment for the property is as set out below:-

- £250,000 per annum from 16 April 2024 to 5 January 2028

- £270,000 per annum from 6 January 2028 to 5 January 2033

- £291,600 per annum from 6 January 2033 to 5 January 2038

- £314,928 per annum from 6 January 2038 to 5 January 2043