Registration number: 12794843

Highgate Care Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 7

Highgate Care Limited

Company Information

Director

M Dhanak

Registered office

28 High Road London N2 9PJ

Accountants

Hazlewoods LLP Windsor House Bayshill Road Cheltenham GL50 3AT

Highgate Care Limited

(Registration number: 12794843)
Balance Sheet as at 31 August 2025

	Note	2025  £	2024  £
Fixed assets
Intangible assets	4	150,000	150,000
Tangible assets	5	8,793,748	8,564,296
		8,943,748	8,714,296
Current assets
Cash at bank and in hand		8,323	1,982
Creditors: Amounts falling due within one year	6	(5,836,242)	(5,090,370)
Net current liabilities		(5,827,919)	(5,088,388)
Total assets less current liabilities		3,115,829	3,625,908
Creditors: Amounts falling due after more than one year	6	(4,795,379)	(4,436,433)
Net liabilities		(1,679,550)	(810,525)
Capital and reserves
Called up share capital		111	111
Share premium reserve		749,989	749,989
Profit and loss account		(2,429,650)	(1,560,625)
Total equity		(1,679,550)	(810,525)

For the financial year ending 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 28 May 2026
 

M Dhanak
Director

Highgate Care Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

1

General information

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

The address of its registered office is:
28 High Road
London
N2 9PJ

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 have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

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

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern

The directors consider the underlying value of the freehold property to be significantly in excess of the carrying value held on the balance sheet and to be sufficient to be able to repay the bank and other borrowings in full.

Judgements and estimation uncertainty

These financial statements do not contain any significant judgements or estimation uncertainty.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company. The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet 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 has not been charged in the year due to the assets not yet being in use.

Highgate Care Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

Intangible assets

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date.

Negative goodwill arising on an acquisition is recognised on the face of the balance sheet on the acquisition date and subsequently the excess up to the fair value of non-monetary assets acquired is recognised in profit or loss in the periods in which the non-monetary assets are recovered.

Amortisation has not been charged during the year due to the business that was acquired not yet being fully functional.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

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 profit and loss account 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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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.

Highgate Care Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

Financial instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

The recoverable amount of goodwill is derived from measurement of the present value of the future cash flows of the cash-generating units ('CGUs') of which the goodwill is a part. Any impairment loss in respect of a CGU is allocated first to the goodwill attached to that CGU, and then to other assets within that CGU on a pro-rata basis.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. Where a reversal of impairment occurs in respect of a CGU, the reversal is applied first to the assets (other than goodwill) of the CGU on a pro-rata basis and then to any goodwill allocated to that CGU.

For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

3

Staff numbers

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

	2025  No.	2022 No.
Average number of employees	1	1

Highgate Care Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

4

Intangible assets

	Goodwill  £
Cost
At 1 September 2024 and at 31 August 2025	150,000
Amortisation
At 1 September 2024 and at 31 August 2025	-
Carrying amount
At 31 August 2024 and at 31 August 2025	150,000

Amortisation has not been charged in the year as the home is not yet open.

5

Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Total £
Cost
At 1 September 2024	8,266,136	298,160	8,564,296
Additions	229,452	-	229,452
At 31 August 2025	8,495,588	298,160	8,793,748
Depreciation
At 1 September 2024	-	-	-
Charge for the year	-	-	-
At 31 August 2025	-	-	-
Carrying amount
At 31 August 2025	8,495,588	298,160	8,793,748
At 31 August 2024	8,266,136	298,160	8,564,296

Depreciation has not been charged in the year as the home is not yet open. The directors consider the value of the property to be substantially in excess of its net book value.

Highgate Care Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

6

Creditors

	Note	2025  £	2024  £
Due within one year
Loans and borrowings	7	4,931,250	3,908,594
Trade creditors		54,316	37,472
Amounts due to related parties		747,982	1,044,982
Accrued expenses		102,694	99,322
		5,836,242	5,090,370
Due after one year
Loans and borrowings	7	4,795,379	4,436,433

7

Loans and borrowings

	2025 £	2024 £
Current loans and borrowings
Loan borrowings	3,300,000	3,300,000
Other borrowings	1,631,250	608,594
	4,931,250	3,908,594