KINGSTOWN HEALTHCARE INVESTMENTS LIMITED


Director	M C FITCH


Company Secretary	FC SECRETARIAL SERVICES LIMITED


Registered Address	222 Quadrangle Tower
	Cambridge Square
	London
	W2 2PJ


Registered Number	03433979 (England and Wales)

Balance Sheet as at
31 July 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		7,642,922		7,642,922
			7,642,922		7,642,922
Current assets
Debtors		247,162		125,000
Cash at bank and on hand		201,487		247,886
		448,649		372,886
Creditors amounts falling due within one year	4	(302,049)		(263,752)
Net current assets (liabilities)			146,600		109,134
Total assets less current liabilities			7,789,522		7,752,056
Creditors amounts falling due after one year	5		(1,851,254)		(2,029,186)
Provisions for liabilities	6		(541,412)		(540,046)
Net assets			5,396,856		5,182,824
Capital and reserves
Called up share capital			10,000		10,000
Revaluation reserve			3,367,877		3,367,877
Profit and loss account			2,018,979		1,804,947
Shareholders' funds			5,396,856		5,182,824

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Director on 20 October 2025, and are signed on its behalf by:

M C FITCH
Director
Registered Company No. 03433979

KINGSTOWN HEALTHCARE INVESTMENTS LIMITED

Notes to the Financial Statements
for the year ended 31 July 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

	Revenue from sale of goods
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Revenue from sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation.

	Investment property
	Investment property is carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Comprehensive Income.

	Financial instruments
	The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in
case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	1		1

3.	Tangible fixed assets

	Land & buildings	Total
	£	£
Cost or valuation
At 01 August 24	7,642,922	7,642,922
At 31 July 25	7,642,922	7,642,922
Net book value
At 31 July 25	7,642,922	7,642,922
At 31 July 24	7,642,922	7,642,922


	The Land and Buildings are an investment property rented to a group company. On 6th October 2020, the company property, Harwood House, was professionally valued by Christie & Co in accordance with the RICS Valuation - Global Standards (the "Red Book"), incorporating the International Valuation Standards ("IVS"), both effective from 31st January 2020. In Christie & Co's opinion, the Market Value of the Freehold Interest in the Property in its existing use and present condition as a fully equipped and operating entity, having regard to its trading potential as at the valuation date is £7,900,000. In the Director's opinion the current value of the property is £7,987,137. As at the Balance Sheet date, £7,642,922 is held within the books of Kingstown Healthcare Investments Limited with a further £344,215 being held within the books of Harwood House Limited.

The Land and Buildings are an investment property rented to a group company.  On 6th October 2020, the company property, Harwood House, was professionally valued by Christie & Co in accordance with the RICS Valuation - Global Standards (the "Red Book"), incorporating the International Valuation Standards ("IVS"), both effective from 31st January 2020.  In Christie & Co's opinion, the Market Value of the Freehold Interest in the Property in its existing use and present condition as a fully equipped and operating entity, having regard to its trading potential as at the valuation date is £7,900,000.  

In the Director's opinion the current value of the property is £7,987,137.  As at the Balance Sheet date, £7,642,922 is held within the books of Kingstown Healthcare Investments Limited with a further £344,215 being held within the books of Harwood House Limited.

4.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	-	223
Bank borrowings and overdrafts	207,455	195,870
Taxation and social security	73,596	43,346
Accrued liabilities and deferred income	20,998	24,313
Total	302,049	263,752


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

5.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	1,196,700	1,404,155
Other creditors	654,554	625,031
Total	1,851,254	2,029,186


	Details of security provided: Charges to the Bank (for itself and any relevant company within the Bank group): 1.) A first legal charge over Harwood House. 2.) A first, fixed and floating charge over all assets of the company. 3.) A first, fixed and floating charge over all assets of Harwood House Limited. 4.) A deed of assignment over rental income. 5.) A cross company guarantee of Peterock Limited and Harwood House Limited.

Details of security provided:
Charges to the Bank (for itself and any relevant company within the Bank group):
) A first legal charge over Harwood House.
) A first, fixed and floating charge over all assets of the company.
) A first, fixed and floating charge over all assets of Harwood House Limited.
) A deed of assignment over rental income.
) A cross company guarantee of Peterock Limited and Harwood House Limited.

6.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	541,412	540,046
Total	541,412	540,046

7.	Related party transactions
	The parent company is Peterock Limited, a company registered in England. During the year sales amounting to £624,720 (2024: £606,548) were made to related parties and purchases amounting to £164,111 (2024: £162,423) were made from related parties. At the Balance Sheet date £247,161 (2024: £125,000) was owed from related parties and £654,554 (2024: £625,031) was owed to related parties.