REGISTERED NUMBER: 12374177 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

ABBEY WOOD PARK 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:

12374177 (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

119,437

122,811

CURRENT ASSETS

Debtors

5

667,235

839,978

Cash at bank

38,022

52,767

705,257

892,745

CREDITORS

Amounts falling due within one year

6

1,220,507

1,852,880

NET CURRENT LIABILITIES

(515,250

)

(960,135

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(395,813

)

(837,324

)

CREDITORS

Amounts falling due after more than one year

7

(8,773

)

(19,062

)

PROVISIONS FOR LIABILITIES

(14,860

)

-

NET LIABILITIES

(419,446

)

(856,386

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(419,546

)

(856,486

)

(419,446

)

(856,386

)

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 30 September 2025 and were signed by:

N Singh - Director

1.	STATUTORY INFORMATION

Abbey Wood Park 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.

Despite the company maintaining profitability for the year, it is showing net current liabilities and net liabilities at the balance sheet date. Since rebuilding post pandemic both occupancy and profitability have recovered substantially following the implementation of a recruitment programme which has provided the business with a permanent suitably qualified and stable workforce. Latest CQC inspections have resulted in the company having the majority of its services rated as Good following a focus by the management on quality standards.

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 company 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 company 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover represents fees receivable in respect of residential care services provided to residents.Turnover is recognised to the extent that performance occurs and is measured at fair value of the fees receivable. Fees not invoiced to residents by the balance sheet date are included in debtors as accrued income. Fees invoiced to residents in advance of future periods are included in creditors as deferred income.

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 reducing balance

Computer equipment

-

33% on 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

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

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.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand that are readily convertible to a known amount of cash and are subject to insignificant risk to changes in value. These are shown as current assets.

Short term creditors, loans and borrowing

Short term creditors with no stated interest rate that are payable within one year are stated at transaction price. Any losses from impairment are recognised in the profit and loss account.

Bank loans and borrowing are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method less impairment. Loans and borrowings that are receivable within one year are not discounted. If an arrangement constitutes a finance transaction it is measured at present value of future payments discounted at a market rate of interest for a similar loan.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 66 (2023 - 73 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2024

254,511

5,765

260,276

Additions

31,458

-

31,458

At 31 December 2024

285,969

5,765

291,734

DEPRECIATION

At 1 January 2024

131,957

5,508

137,465

Charge for year

34,575

257

34,832

At 31 December 2024

166,532

5,765

172,297

NET BOOK VALUE

At 31 December 2024

119,437

-

119,437

At 31 December 2023

122,554

257

122,811

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

295,136

337,773

Amounts owed by group undertakings

-

320,233

Other debtors

360,836

79,500

Tax

-

96,240

Prepayments

11,263

6,232

667,235

839,978

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

10,289

10,035

Trade creditors

257,218

383,666

Amounts owed to group undertakings

30,417

1,006,268

Social security and other taxes

85,056

184,397

Other creditors

679,696

112,617

Directors' current accounts

131,885

130,909

Accrued expenses

25,946

24,988

1,220,507

1,852,880

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 1-2 years

8,773

10,289

Bank loans - 2-5 years

-

8,773

8,773

19,062

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 ultimate controlling party is N Singh.

Up until 29th January 2024, the company's immediate parent company was Abbeywood Care Homes Limited and the ultimate parent company Armighorn Capital Limited. From this date the ultimate parent company became Abbeywood Care Homes Limited and the director became the ultimate controlling party.