Ashgate Care Limited - Filleted accounts

Registered number

05242916

Ashgate Care Limited

Filleted Accounts

31 October 2025

Ashgate Care Limited
Registered number:			05242916
Balance Sheet
as at 31 October 2025

Notes		31/10/25			28/2/25
£					£
Fixed assets
Tangible assets	5			2,210,640			2,230,614

Current assets
Stocks			3,500			7,083
Debtors	6		119,615			243,604
Cash at bank and in hand			156,427			228,811
			279,542			479,498

Creditors: amounts falling due within one year	7		(2,193,996)			(2,030,815)

Net current liabilities				(1,914,454)			(1,551,317)

Total assets less current liabilities				296,186			679,297

Creditors: amounts falling due after more than one year	8			(1,620,990)			(2,001,872)



Net liabilities				(1,324,804)			(1,322,575)

Capital and reserves
Called up share capital	9			2			2
Profit and loss account				(1,324,806)			(1,322,577)

Shareholders' funds				(1,324,804)			(1,322,575)

The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The Income Statement has not been delivered to the Registrar of Companies.




B Rosenberg
Director
Approved by the board on 30 July 2026

Ashgate Care Limited
Notes to the Accounts
for the period from 1 March 2025 to 31 October 2025


1	Accounting policies

	Basis of preparation
	The financial statements have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland and the provisions applicable to companies subject to the small companies regime under section 1A of that standard.

	Going concern
	At 31 October 2025, the company had net current liabilities of £1,914,454 and net liabilities of £1,324,804. The directors have prepared cash flow forecasts covering a period of at least twelve months from the date of approval of the financial statements. In preparing those forecasts, the directors have considered the company’s expected trading performance, the timing of settlement of taxation and other liabilities, the availability of existing borrowing facilities and the continuing financial support of the company’s parent undertaking. Tregwilym Lodge Limited has confirmed that it intends to continue providing financial support to enable the company to meet its liabilities as they fall due for a period of at least twelve months from the date of approval of these financial statements. On this basis, the directors consider it appropriate to prepare the financial statements on the going-concern basis.

	Reporting Period
	The reporting period is from 1 March 2025 to 31 October 2025. The period was shortened to align the year end of the company with other companies in the group. The financial statements for the period ended 31 October 2025 demonstrate the results of the company over a period of 8 months and are therefore not entirely comparable with the prior year results.

	Turnover
	Turnover represents amounts receivable for residential and nursing care services provided during the period, net of discounts and value added tax where applicable. Revenue is recognised as the care services are provided. Amounts relating to services provided but not invoiced at the reporting date are recognised as accrued income.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Freehold buildings			over 50 years
	Leasehold land and buildings			over the lease term
	Plant and machinery			over 5 years
	Fixtures, fittings, tools and equipment			over 5 years

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	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.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	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.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.

	Financial instruments
	The company only enters into basic financial instruments, including trade and other debtors, cash and cash equivalents, trade and other creditors, amounts owed to group undertakings and bank loans. Basic financial instruments are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, in which case they are initially measured at the present value of the future payments discounted at a market rate of interest. Financial assets and liabilities are subsequently measured at amortised cost using the effective interest method. Financial assets are assessed at each reporting date for objective evidence of impairment. Any impairment loss is recognised in profit or loss. Financial liabilities are derecognised when the company’s contractual obligations are discharged, cancelled or expire.

2	Critical accounting judgements and key sources of estimation uncertainty

	In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. The directors consider the following areas to involve the most significant judgements and estimates in the preparation of the financial statements:

	Going concern
	The directors have exercised judgement in assessing the company’s ability to continue as a going concern. In making this assessment, the directors have considered the company’s current and forecast occupancy levels, expected care fee income, local authority and private resident funding arrangements, payroll and agency staffing costs, utility and other operating cost inflation, loan repayments, available finance facilities and forecast cash flows for a period of at least twelve months from the date of approval of these financial statements. Having considered these matters, the directors are satisfied that the company has adequate resources to continue in operational existence for the foreseeable future and therefore continue to adopt the going concern basis of accounting in preparing the financial statements.

	Revenue recognition
	Judgement is applied in determining the timing of revenue recognition for care services provided to residents. Revenue is recognised in the period in which the care services are provided. Estimation may be required where amounts are funded by local authorities, NHS bodies, private residents or third parties and where billing or funding confirmations are not finalised at the reporting date.

	Recoverability of trade debtors
	The directors estimate the recoverability of debtor balances by reviewing aged balances, payment history, local authority and third-party funding arrangements, disputes and other known circumstances affecting recovery.

	Carrying value and useful economic lives of property and fixed assets
	The directors assess whether there are any indicators of impairment in respect of the company’s property and other tangible fixed assets, taking into account asset condition, trading performance, occupancy levels, regulatory matters, market conditions and expected future cash flows. The directors also estimate the useful economic lives and residual values of tangible fixed assets when determining depreciation. These estimates are reviewed where circumstances indicate that they may have changed. Where an asset’s carrying amount exceeds its recoverable amount, an impairment loss is recognised.

3	Audit information

	The audit report is unqualified.

	Senior statutory auditor:	Sadikali Premji (FCCA)
	Firm:	TC Group
	Date of audit report:	30 July 2026


4	Employees					31/10/25	28/2/25
Number							Number

	Average number of persons employed by the company					60		49


5	Tangible fixed assets
				Land and buildings		Plant and machinery etc		Total
£					£		£
	Cost
	At 1 March 2025			2,160,581		500,547		2,661,128
	Additions			-		9,278		9,278
	At 31 October 2025			2,160,581		509,825		2,670,406

	Depreciation
	At 1 March 2025			-		430,514		430,514
	Charge for the period			9,398		19,854		29,252
	At 31 October 2025			9,398		450,368		459,766

	Net book value
	At 31 October 2025			2,151,183		59,457		2,210,640
	At 28 February 2025			2,160,581		70,033		2,230,614


6	Debtors					31/10/25	28/2/25
£							£

	Trade debtors					72,288		198,428
	Other debtors					47,327		45,176
						119,615		243,604

7	Creditors: amounts falling due within one year					31/10/25	28/2/25
£							£

	Bank loans and overdrafts					403,254		105,345
	Trade creditors					93,563		110,564
	Taxation and social security costs					632,497		653,334
	Other creditors					1,064,682		1,161,572
						2,193,996		2,030,815

8	Creditors: amounts falling due after one year					31/10/25	28/2/25
£							£

	Bank loans					1,620,990		2,001,872

	The bank loans amounting to £2,024,244 (2025 - £2,107,217) are secured by a fixed and floating charge over the assets of the company and a first legal charge over the company’s freehold property known as Ashgate House.

9	Share capital	Nominal	31/10/25		31/10/25		28/2/25
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		2		2		2

10	Related party transactions

	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 members of the group. During the period, the company paid management fees of £37,500 (2025: £57,875) to a company controlled by one of the directors of the company. At the period end, £4,881 was outstanding. The transactions were conducted on normal commercial terms. Included within other creditors is an amount of £54,646 (2025: £45,052) owed to a company in which one of the directors has an interest. The amount is interest free and payable on demand.


11	Other information

	Ashgate Care Limited is a private company limited by shares and incorporated and registered in England. Its registered office is:
	Room 16, Toll Bar House Business Centre
	1 Derby Road
	Ilkeston
	Derbyshire
	DE7 5FH


12	Parent Undertaking

	The company’s immediate parent undertaking is Tregwilym Lodge Limited, a company incorporated in England and Wales. The ultimate parent undertaking is Broadstone Healthcare Limited, a company incorporated in England and Wales. Broadstone Healthcare Limited prepares consolidated financial statements for the largest and smallest group of undertakings of which the company is a member. Copies may be obtained from its registered office at Room 16 Toll Bar House Business Centre, 1 Derby Road, Ilkeston, Derbyshire, England, DE7 5FH.

13	Post Balance Sheet Event

	Subsequent to the period end, the company refinanced its existing borrowings with Metro Bank Plc. The previous borrowing and related interest were repaid in full, the existing security was discharged, and new security was granted to Metro Bank Plc. The refinancing has been considered in the directors going-concern assessment.