Abbey Wood Park Property Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 12374153 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

ABBEY WOOD PARK PROPERTY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

N Singh

REGISTERED OFFICE:

1110 Elliott Court

Coventry Business Park

Herald Avenue

Coventry

West Midlands

CV5 6UB

REGISTERED NUMBER:

12374153 (England and Wales)

AUDITORS:

Luckmans Duckett Parker Limited

1110 Elliott Court

Coventry Business Park

Herald Avenue

Coventry

West Midlands

CV5 6UB

FIXED ASSETS

Tangible assets

4

-

9,375

Investment property

5

1,504,986

1,500,000

1,504,986

1,509,375

CURRENT ASSETS

Debtors

6

127,610

110,467

CREDITORS

Amounts falling due within one year

7

4,800

891,103

NET CURRENT ASSETS/(LIABILITIES)

122,810

(780,636

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,627,796

728,739

CREDITORS

Amounts falling due after more than one
year

8

(1,050,000

)

-

PROVISIONS FOR LIABILITIES

(223,254

)

(223,254

)

NET ASSETS

354,542

505,485

CAPITAL AND RESERVES

Called up share capital

100

Revaluation reserve

10

669,763

Retained earnings

(315,321

)

(164,378

)

354,542

505,485

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 29 September 2025 and were signed by:

N Singh - Director

1.	STATUTORY INFORMATION

Abbey Wood Park 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 as modified by the revaluation of certain assets.

Going concern

The financial statements for the year ended 31 December 2024 have been prepared on a going concern basis.

The company is showing net assets but is part of a the wider Abbeywood Care Homes group which has net liabilities.

Up until the end of January 2024, when the company's ultimate parent company, Armighorn Capital Limited, ceased as the ultimate parent company, the company operated on a group-wide cash flow management model. Since this date, the director became the ultimate controlling party and the Abbeywood Care Homes group the ultimate parent company. Ahead of this the Abbeywood group had secured financing to enable it to come out of the Armighorn group. That financing is short-term and expires in January 2026, however due to the ongoing strong performance of the Abbeywood group it is not expected that re-financing will be an issue.

The director has reviewed the forecasts up to the end of December 2026 which shows the Abbeywood group is expected to maintain profitability and generate adequate cash flow for the foreseeable future with continued support from the company's former ultimate parent company and the director. Management accounts for the first 8 months of 2025 show consistent profitability such that by the end of 2025 the Abbeywood group is hopeful of reaching a net assets position. The director is satisfied that the company will continue its activities for a period of at least twelve months from the date of approving these financial statements.

Turnover

Turnover is measured at the fair value of rent received or receivable.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on cost

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.

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.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 January 2024

and 31 December 2024

90,000

DEPRECIATION

At 1 January 2024

80,625

Charge for year

9,375

At 31 December 2024

90,000

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

9,375

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

1,500,000

Additions

4,986

At 31 December 2024

1,504,986

NET BOOK VALUE

At 31 December 2024

1,504,986

At 31 December 2023

1,500,000

Fair value at 31 December 2024 is represented by:

£

Valuation in 2023

893,017

Cost

611,969

1,504,986

The investment property was valued on an open market basis by Colliers International Property Consultants Limited on 18 December 2023.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Amounts owed by group undertakings

127,610

110,467

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Amounts owed to group undertakings

-

887,803

Accrued expenses

4,800

3,300

4,800

891,103

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2024

2023

£

Bank loans - 1-2 years

1,050,000

-

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

Bank loans

1,050,000

-

The bank loan is secured by a fixed and floating charge held by Streambank plc over all assets of the company.

10.

RESERVES

Revaluation

reserve

£

At 1 January 2024

and 31 December 2024

669,763

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

The Report of the Auditors was unqualified.

Mr M Spafford FCA FCCA (Senior Statutory Auditor)

for and on behalf of Luckmans Duckett Parker Limited

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is N Singh.

The company's parent company is Abbeywood Care Homes Limited. On 29 January 2024 100% of the share capital was acquired from Armighorn Capital Ltd by Mr N Singh.