Company registration number 06337649 (England and Wales)
ASHTON HEALTHCARE GROUP LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
ASHTON HEALTHCARE GROUP LIMITED
COMPANY INFORMATION
Directors
Mr A S Shookhye
Mrs M B Shookhye
Ms R C Shookhye
Mr M A Shookhye
Mr R L Shookhye
Secretary
Mrs M B Shookhye
Company number
06337649
Registered office
13 Oathall Road
Haywards Heath
West Sussex
RH16 3EG
Auditor
Sumer Audit
Amelia House
Crescent Road
Worthing
West Sussex
BN11 1RL
ASHTON HEALTHCARE GROUP LIMITED
CONTENTS
Page
Strategic report
1 - 3
Directors' report
4 - 5
Directors' responsibilities statement
6
Independent auditor's report
7 - 9
Group statement of comprehensive income
10
Group statement of financial position
11
Company statement of financial position
12
Group statement of changes in equity
13
Company statement of changes in equity
14
Group statement of cash flows
15
Notes to the financial statements
16 - 30
ASHTON HEALTHCARE GROUP LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 1 -

The directors present the strategic report for the year ended 31 December 2025.

Review of the business

The principal activity of the group continues to be the provision of care services, offering a range of specialist nursing and dementia care to older people.

 

In late 2024, the group suspended mental health services at its subsidiary, Grove Park Healthcare Group Limited, to restructure the service and management team. The mental health beds remained closed throughout 2025, and the group therefore traded below full bed capacity during the year. Group income and profits for 2025 were lower than in 2024, primarily reflecting this planned closure and the resulting period of reduced occupancy. These beds were recommissioned in Q3 2026 to provide additional nursing and dementia care beds, and as of Q3 2026 Grove Park operates as a 100% nursing and dementia care home. Notwithstanding this temporary service interruption, the group’s underlying performance in 2025 remained resilient, supported by the strength of its core business and disciplined cost control.

 

All other homes in the group performed well in 2025, maintaining strong occupancy and stable operational performance despite significant cost pressures across the UK health and social care sector. These included increases in the National Minimum/Living Wage, higher employer National Insurance contributions, and elevated costs for essential supplies such as food and utilities driven by broader macroeconomic and geopolitical factors, including the ongoing conflicts in Ukraine and the Middle East. The Board remained focused on positioning the group for sustainable growth in 2026. Nursing beds at Grove Park are now filling in line with the business plan. In addition, the group acquired another property in September 2025 as part of a planned expansion to increase the group’s overall number of care beds and strengthen its long‑term revenue base.

 

The group operates all of its homes and services to high regulatory standards, with the Care Quality Commission (CQC) rating all services as Good. Adelaide Healthcare Limited was inspected in 2026 and retained its Good rating, further demonstrating the group’s consistent approach to quality and compliance.

Principal risks and uncertainties

The directors continue to monitor and manage a range of risks for the group, including:

The group also faces potential workforce risk in the event of any change to its Home Office overseas sponsor licence status, including withdrawal or non‑renewal. Such an event could reduce the ability to recruit care staff from overseas and increase reliance on the domestic labour market, potentially leading to staffing gaps and higher agency costs.

The board has assessed this risk and developed a mitigation plan, including enhancing domestic recruitment and retention, maintaining a contingent workforce strategy, and monitoring immigration policy and sponsor‑licence requirements. The group also mitigates wage and workforce risks through cost control, fee reviews, succession planning, flexible rostering and productivity improvements.

ASHTON HEALTHCARE GROUP LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -

To mitigate this risk, the group maintains strong working relationships with its bank, facilitates regular compliance reporting, and applies prudent liquidity management policies, including regular detailed cash flow forecasts to monitor liquidity and covenant compliance.

Sustained increases in these costs, if not fully recovered through fee reviews or operational efficiencies, could put pressure on margins and cash flow. The board monitors this risk as part of its regular review of budgets and forecasts.

Mitigation measures include reducing non‑essential business travel, raising staff awareness of energy and resource use, implementing energy‑efficiency measures, working with suppliers to manage costs, and incorporating sensitivity analysis on key cost drivers into regular budgets and cash flow forecasts.

 

Future developments

Sustained demand for nursing and care services across the group’s existing homes provides a solid foundation for growth. In line with its strategic objectives, the group acquired an new property for development in Adelaide Healthcare Limited in September 2025. This addition will expand care home capacity, enhance service quality, and reinforce Ashton Healthcare’s strong position in the Sussex market.

 

The directors believe that this development, coupled with the progressive reoccupation of Grove Park and ongoing operational improvements, will strengthen the group’s platform for growth and increase future income streams.

 

 

 

ASHTON HEALTHCARE GROUP LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -
Key performance indicators

The group monitors its performance against key measures aligned to its stategy:

 

Underlying cash generation and liquidity remain consistent with the Board’s plans for 2026.

Energy and carbon report (SECR)

The group reports energy use and associated greenhouse gas emissions for the year ended 31 December 2025 in line with SECR requirements. Data are compiled from supplier invoices and converted using the UK Government’s latest conversion factors.

 

Energy consumption comprised 492,000 kWh of electricity and 1,746,531 kWh of natural gas, equating to approximately 382.84 tonnes of CO2e. Comparative information for 2024 is disclosed in the prior year report. The electricity consumption is 11% less compared to last year (551,525 kWh in 2024) and gas consumption is 3% less compared to last year (1,803,876 kWh in 2024). The CO2 equivalent figure has also decreased from 429 tonnes to 383 tonnes.

Section 172 statement

The group is committed to promoting the success of the business for the benefit of all stakeholders. We provide high‑quality care services through our dedicated, compassionate, and skilled staff, who are supported by ongoing training and development.

 

Staff wellbeing remains a priority, with regular engagement, surveys, and confidential support services covering health, finance, legal, and mental health matters. We continue to invest in modern systems that empower staff with real‑time access to their working information, training needs, and support compliance with all regulatory requirements.

 

Our Equality, Diversity, and Inclusion programme fosters a culture of respect and inclusion where all employees and residents feel valued. Continuous investment in our facilities ensures safe, comfortable environments, while sustainability initiatives such as our solar panel installations reflect our commitment to environmental responsibility.

 

The directors are dedicated to maintaining and enhancing the group’s reputation within the care sector, guided by ethical standards and a focus on long‑term value creation for residents, staff, and the wider community. The business relationships and long‑term considerations are covered by the contents of the Directors’ Report.

On behalf of the board

Mr A S Shookhye
Director
25 September 2026
ASHTON HEALTHCARE GROUP LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 4 -

The directors present their annual report and financial statements for the year ended 31 December 2025.

Principal activities

The principal activity of the company is that of a holding company and financial service provider for the group companies.

 

The principal activity of the company's subsidiary undertakings continued to be that of care services. These include a range of nursing and residential services to the elderly and to people with dementia.

 

The results consolidate the trading results from our care homes in Adelaide Healthcare Limited, Birchgrove Healthcare (Sussex) Limited, Grove Park Healthcare Group Limited, and our project development companies, Ashton Project Management Limited and Hazeldene Project Management Limited.

Results and dividends

The results for the year are set out on page 10.

No ordinary dividends were paid. The directors do not recommend payment of a further dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr A S Shookhye
Mrs M B Shookhye
Ms R C Shookhye
Mr M A Shookhye
Mr R L Shookhye
Financial instruments

Details of principal risks, including financial instrument risks, are detailed in the Strategic Report.

Business relationships

The directors have a philosophy of fairness and honesty with all our residents and their families and decisions are made always with regard to the wellbeing of the home residents in conjunction with relatives.

 

The directors have built a business where there are a significant number of long-term suppliers to the business. The company also has robust systems in place whereby suppliers are paid within their credit terms and it reports separately on this. The company will offer equal terms to new and existing suppliers. Trade payable days for the year ended 31 December 2025 were 14 days (2024 - 10 days).

Future developments

The directors have disclosed any future developments in the Strategic Report.

Auditor

The auditor, Sumer Audit, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Energy and carbon report

In line with the Government’s Streamlined Energy and Carbon Reporting (SECR) policy, the group has disclosed the following in respect of its annual energy consumption for the year ended 31 December 2025. The energy data has been compiled from supplier invoices and calculated using UK Government GHG Conversion Factors. Comparative information for the prior year is disclosed in accordance with SECR requirements.

ASHTON HEALTHCARE GROUP LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 5 -

During the reporting period, the group’s energy consumption comprised 492,000 kWh of electricity and 1,746,531 kWh of natural gas (2024 - 551,525 kWh of electricity and 1,803,876 kWh of natural gas). Applying the official conversion factors, this equates to total carbon emissions of approximately 383 tonnes of carbon dioxide equivalent (2024 - 429 tonnes). Total kWh as a ratio to turnover is 0.168 (2024 - 0.146).

 

In line with the group’s statement in the 2024 Directors’ Report, we continue to implement energy efficiency measures and reduce our carbon footprint in line with environmental and regulatory obligations. Energy‑efficiency actions during 2025 included LED lighting upgrades, boiler optimisation, contributing to lower energy use and emissions compared with 2024.

 

As noted in 2024, our new care homes, and future developments, have been designed with sustainability at the forefront, featuring energy‑saving measures such as LED lighting, solar panels, efficient heating and cooling systems, sensor lighting, cycle sheds, and electric vehicle recharge points. These investments continue to contribute materially to lowering the group’s carbon footprint.

 

The group also continues to pursue a transition to a 100% paperless office environment, building on the software, systems and processes implemented in 2024 to eliminate the need for printed and paper records, reduce waste and improve operational efficiency while supporting our carbon reduction objectives.

 

As the group now has two years of formal SECR reporting, baseline carbon data and energy consumption metrics are established across all sites. The directors intend to continue to develop meaningful carbon reduction targets and further expand sustainability initiatives in forthcoming years, demonstrating ongoing commitment to environmental stewardship and compliance with evolving regulatory expectations.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

On behalf of the board
Mr A S Shookhye
Director
25 September 2026
ASHTON HEALTHCARE GROUP LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 6 -

The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

 

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and company, and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

 

 

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

ASHTON HEALTHCARE GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF ASHTON HEALTHCARE GROUP LIMITED
- 7 -
Opinion

We have audited the financial statements of Ashton Healthcare Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2025 which comprise the group statement of total comprehensive income, the group statement of financial position, the company statement of financial position, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and parent company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

ASHTON HEALTHCARE GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF ASHTON HEALTHCARE GROUP LIMITED
- 8 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.

 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the parent company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

 

 

As a result of these procedures, we considered the opportunities and incentives that may exist within the company for fraud. We are also required to perform specific procedures to respond to the risk of management override. As a result of performing the above, we identified the following areas as those most likely to have an impact on the financial statements: health & safety, employment law, compliance with the CQC and compliance with the UK Companies Act.

ASHTON HEALTHCARE GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF ASHTON HEALTHCARE GROUP LIMITED
- 9 -

In addition to the above, our procedures to respond to risks identified included the following:

 

 

Due to the inherent limitations of an audit, there is an unavoidable risk that some material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK). For instance, the further removed non-compliance is from the events and transactions reflected in the financial statements, the less likely the auditor is to become aware of it or to recognise the non-compliance.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Alex Chidwick FCCA (Senior Statutory Auditor)
For and on behalf of Sumer Audit
25 September 2026
Chartered Accountants
Statutory Auditor
Worthing
Sumer Audit is the trading name of Sumer Auditco Limited
ASHTON HEALTHCARE GROUP LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2025
- 10 -
2025
2024
Notes
£
£
Revenue
3
13,336,231
16,190,715
Cost of sales
(8,618,270)
(10,382,679)
Gross profit
4,717,961
5,808,036
Administrative expenses
(2,449,065)
(2,647,183)
Other operating income
43,875
28,650
Operating profit
4
2,312,771
3,189,503
Investment income
20,178
14,325
Finance costs
8
(1,867,277)
(2,026,600)
Profit before taxation
465,672
1,177,228
Tax on profit
9
(107,500)
(41,100)
Profit for the financial year
358,172
1,136,128
Other comprehensive income
Revaluation of property, plant and equipment
-
0
(8,805,999)
Tax relating to other comprehensive income
-
0
2,201,500
Total comprehensive income for the year
358,172
(5,468,371)
Profit for the financial year is all attributable to the owners of the parent company.
Total comprehensive income for the year is all attributable to the owners of the parent company.

The group statement of total comprehensive income has been prepared on the basis that all operations are continuing operations.

ASHTON HEALTHCARE GROUP LIMITED
GROUP STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2025
31 December 2025
- 11 -
2025
2024
Notes
£
£
£
£
Non-current assets
Goodwill
10
52,500
70,000
Property, plant and equipment
11
43,737,161
39,681,378
43,789,661
39,751,378
Current assets
Inventories
19,099
20,327
Trade and other receivables
14
3,015,978
2,261,536
Cash and cash equivalents
1,737,544
1,945,493
4,772,621
4,227,356
Current liabilities
15
(1,787,856)
(2,441,728)
Net current assets
2,984,765
1,785,628
Total assets less current liabilities
46,774,426
41,537,006
Non-current liabilities
16
(27,578,608)
(22,719,660)
Provisions for liabilities
Deferred tax liability
19
2,967,300
2,947,000
(2,967,300)
(2,947,000)
Net assets
16,228,518
15,870,346
Equity
Called up share capital
21
200
200
Revaluation reserve
9,592,240
9,592,240
Retained earnings
6,636,078
6,277,906
Total equity
16,228,518
15,870,346
The financial statements were approved by the board of directors and authorised for issue on 25 September 2026 and are signed on its behalf by:
25 September 2026
Mr A S Shookhye
Director
Company registration number 06337649 (England and Wales)
ASHTON HEALTHCARE GROUP LIMITED
COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2025
31 December 2025
- 12 -
2025
2024
Notes
£
£
£
£
Non-current assets
Investments
12
686,943
686,943
Current assets
Trade and other receivables falling due after more than one year
14
6,829,210
6,824,370
Trade and other receivables falling due within one year
14
1,405,645
268,414
Cash and cash equivalents
303,376
511,123
8,538,231
7,603,907
Current liabilities
15
(3,922,052)
(5,834,309)
Net current assets
4,616,179
1,769,598
Total assets less current liabilities
5,303,122
2,456,541
Non-current liabilities
16
(27,500,000)
(22,622,026)
Net liabilities
(22,196,878)
(20,165,485)
Equity
Called up share capital
21
200
200
Retained earnings
(22,197,078)
(20,165,685)
Total equity
(22,196,878)
(20,165,485)

As permitted by s408 Companies Act 2006, the company has not presented its own income statement and related notes. The company’s loss for the year was £2,031,393 (2024 - £2,238,001 loss).

The financial statements were approved by the board of directors and authorised for issue on 25 September 2026 and are signed on its behalf by:
25 September 2026
Mr A S Shookhye
Director
Company registration number 06337649 (England and Wales)
ASHTON HEALTHCARE GROUP LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
- 13 -
Share capital
Revaluation reserve
Retained earnings
Total
£
£
£
£
Balance at 1 January 2024
122
16,196,739
5,141,778
21,338,639
Year ended 31 December 2024:
Profit for the year
-
-
1,136,128
1,136,128
Other comprehensive income:
Revaluation of property, plant and equipment
-
(8,805,999)
-
(8,805,999)
Tax relating to other comprehensive income
-
2,201,500
-
0
2,201,500
Total comprehensive income
-
(6,604,499)
1,136,128
(5,468,371)
Issue of share capital
78
-
-
78
Balance at 31 December 2024
200
9,592,240
6,277,906
15,870,346
Year ended 31 December 2025:
Profit and total comprehensive income
-
-
358,172
358,172
Balance at 31 December 2025
200
9,592,240
6,636,078
16,228,518
ASHTON HEALTHCARE GROUP LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
- 14 -
Share capital
Retained earnings
Total
£
£
£
Balance at 1 January 2024
122
(17,927,683)
(17,927,561)
Year ended 31 December 2024:
Loss and total comprehensive income for the year
-
(2,238,002)
(2,238,002)
Issue of share capital
78
-
78
Balance at 31 December 2024
200
(20,165,685)
(20,165,485)
Year ended 31 December 2025:
Loss and total comprehensive income for the year
-
(2,031,393)
(2,031,393)
Balance at 31 December 2025
200
(22,197,078)
(22,196,878)
ASHTON HEALTHCARE GROUP LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 15 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
26
1,400,761
3,926,671
Interest paid
(1,867,277)
(2,026,600)
Net cash (outflow)/inflow from operating activities
(466,516)
1,900,071
Investing activities
Purchase of property, plant and equipment
(4,262,853)
(200,470)
Proceeds from disposal of property, plant and equipment
562
351
Interest received
20,178
14,325
Net cash used in investing activities
(4,242,113)
(185,794)
Financing activities
Proceeds from issue of shares
-
78
Repayment of borrowings
-
(1,304,691)
Proceeds from new bank loans
27,500,000
-
Repayment of bank loans
(22,975,621)
(197,499)
Payment of finance leases obligations
(23,699)
(11,676)
Net cash generated from/(used in) financing activities
4,500,680
(1,513,788)
Net (decrease)/increase in cash and cash equivalents
(207,949)
200,489
Cash and cash equivalents at beginning of year
1,945,493
1,745,004
Cash and cash equivalents at end of year
1,737,544
1,945,493
ASHTON HEALTHCARE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 16 -
1
Accounting policies
Company information

Ashton Healthcare Group Limited (“the company”) is a limited company domiciled and incorporated in England and Wales. The registered office is 13 Oathall Road, Haywards Heath, West Sussex, RH16 3EG.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties at fair value. The principal accounting policies adopted are set out below.

The company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements for parent company information presented within the consolidated financial statements:

 

1.2
Basis of consolidation

The consolidated financial statements incorporate those of Ashton Healthcare Group Limited and all of its subsidiaries. All financial statements are made up to 31 December 2025.

 

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation.

1.3
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. The directors have considered relevant information, including the group's principal risks and uncertainties, the annual budget, forecast future cash flows and the impact of subsequent events in making their assessment.  Based on these assessments and having regard to the resources available to the entity, the directors have concluded that there is no material uncertainty and that they can continue to adopt the going concern basis in preparing the annual report and financial statements.

 

The company has net liabilities in relation to the bank loan in the company, any instalments or other amounts due will be paid from future trading of the group’s subsidiaries and the directors confirm that these will be settled as they fall due. The directors have also confirmed that, if required, they will provide financial support to the group and company.

Based on these assessments and having regard to the resources available to the group, the directors have concluded that there is no material uncertainty in relation to the appropriateness of continuing to adopt the going concern basis in preparing the annual report and accounts.

1.4
Revenue

Revenue is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, is shown net of VAT and on an accruals basis.

ASHTON HEALTHCARE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 17 -
1.5
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of a business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 20 years in Adelaide Healthcare Limited. The goodwill in Birchgrove Healthcare (Sussex) Limited is fully amortised.

1.6
Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
Held at fair value
Plant and equipment
15% diminishing balance
Fixtures and fittings
15% diminishing balance
Computers
15% diminishing balance
Motor vehicles
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

 

Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value.

 

Revaluations are made with sufficient regularity to ensure that the carrying amount in the financial statements does not differ materially from that which would be determined using the fair value at the end of the reporting period.

Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and losses are recognised in profit or loss.

1.7
Non-current investments

In the parent company financial statements investments in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.8
Impairment of non-current assets

At each reporting period end date, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss.

Recoverable amount is the higher of fair value less costs to sell and value in use. If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

ASHTON HEALTHCARE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 18 -
1.9
Inventories

Inventories are stated at the lower of cost and estimated selling price less costs to complete and sell.

1.10
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

1.11
Financial assets and liabilities

The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the group's statement of financial position when the group becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 

The group enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and loans from related parties.

 

Debt instruments like loans and other accounts receivable and payable are initially measured at the transaction price (including transaction costs) and subsequently at amortised cost using the effective interest method; debt instruments that are payable or receivable within one year are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity. Financial liabilities are derecognised when, and only when, the group’s obligations are discharged, cancelled, or they expire.

1.12
Equity instruments

Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

1.13
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

1.14
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

1.15
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

ASHTON HEALTHCARE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 19 -
1.16
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit and loss on a straight line basis over the term of the relevant lease.

2
Judgements and key sources of estimation uncertainty

In the application of the group’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.

Key sources of estimation uncertainty
Fair value of property, plant and equipment

The directors' valuation relating to the fair value of property, plant and equipment across the group is based on their use of the professional valuations carried out on behalf of the company's lenders in August 2025 at an aggregate of £39.65 million (for Adelaide Healthcare Limited, Birchgrove Healthcare (Sussex) Limited and Grove Park Healthcare Group Limited, all group subsidiaries). These valuations were carried out in accordance with The Royal Institution of Chartered Surveyors, undertaken by Savills, an independent firm of Chartered Surveyors with a recognised and relevant professional qualification and with recent experience in the location and category of the property, plant and equipment being valued. The valuations were both made on the basis of existing use as a fully-equipped operational entity having regard to trading potential in line with Section 27 of FRS 102.

3
Revenue

The company operates one principal activity, that of the rendering of services, which is wholly undertaken in the United Kingdom. Revenue is therefore made up 100% by the fees in relation to the supply of these services.

 

ASHTON HEALTHCARE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 20 -
4
Operating profit
2025
2024
£
£
Operating profit for the year is stated after charging:
Depreciation of owned property, plant and equipment
202,159
175,941
Depreciation of property, plant and equipment held under finance leases
-
22,597
Loss on disposal of property, plant and equipment
4,349
635
Amortisation of intangible assets
17,500
17,500
Operating lease charges
79,005
58,285
5
Employees

The average monthly number of persons employed by the group and company during the year (excluding directors) was:

 

Group
Company
2025
2024
2025
2024
Number
Number
Number
Number
Nurses and carers
146
169
-
-
Household
59
68
-
-
Management and administration
21
26
1
1
Total
226
263
1
1

Their aggregate remuneration comprised:

Group
Company
2025
2024
2025
2024
£
£
£
£
Wages and salaries
7,166,057
8,569,438
10,920
57,300
Social security costs
686,008
685,306
747
6,691
Pension costs
156,655
160,047
-
0
-
0
8,008,720
9,414,791
11,667
63,991
6
Auditor's remuneration
2025
2024
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the group and company
12,250
11,520
Audit of the financial statements of the company's subsidiaries
23,000
21,230
35,250
32,750
ASHTON HEALTHCARE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
6
Auditor's remuneration
(Continued)
- 21 -
For other services
All other non-audit services
12,000
11,250
7
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
10,920
57,300
8
Finance costs
2025
2024
£
£
Interest on financial liabilities measured at amortised cost:
Interest on bank overdrafts and loans
1,867,277
2,026,600
Total finance costs
1,867,277
2,026,600
9
Taxation
2025
2024
£
£
Deferred tax
Origination and reversal of timing differences
107,500
41,100

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
465,672
1,177,228
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
116,418
294,307
Tax effect of expenses that are not deductible in determining taxable profit
(2,948)
33,589
Tax effect of utilisation of tax losses not previously recognised
(22,164)
(116,130)
Unutilised tax losses carried forward
57,480
1,304
Other timing differences
(41,286)
(2,290)
Group relief losses b/fwd
-
0
(169,680)
Taxation charge
107,500
41,100
ASHTON HEALTHCARE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
9
Taxation
(Continued)
- 22 -

In addition to the amount charged to the income statement, the following amounts relating to tax have been recognised directly in other comprehensive income:

2025
2024
£
£
Deferred tax arising on:
Revaluation of property
-
(2,201,500)

The group has estimated losses of £2,875,000 (2024 - £3,105,000) available for carry forward against future income.

10
Intangible fixed assets
Group
Goodwill
£
Cost
At 1 January 2025 and 31 December 2025
2,150,000
Amortisation and impairment
At 1 January 2025
2,080,000
Amortisation charged for the year
17,500
At 31 December 2025
2,097,500
Carrying amount
At 31 December 2025
52,500
At 31 December 2024
70,000
The company had no intangible fixed assets at 31 December 2025 or 31 December 2024.
ASHTON HEALTHCARE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 23 -
11
Property, plant and equipment
Group
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
£
Cost or valuation
At 1 January 2025
38,563,424
601,399
1,250,054
144,112
90,388
40,649,377
Additions
4,037,353
42,896
176,889
5,715
-
0
4,262,853
Disposals
-
0
(1,358)
(7,967)
(784)
-
0
(10,109)
At 31 December 2025
42,600,777
642,937
1,418,976
149,043
90,388
44,902,121
Depreciation and impairment
At 1 January 2025
-
0
259,111
611,281
43,383
54,224
967,999
Depreciation charged in the year
-
0
54,330
110,145
16,687
20,997
202,159
Eliminated in respect of disposals
-
0
(796)
(4,115)
(287)
-
0
(5,198)
At 31 December 2025
-
0
312,645
717,311
59,783
75,221
1,164,960
Carrying amount
At 31 December 2025
42,600,777
330,292
701,665
89,260
15,167
43,737,161
At 31 December 2024
38,563,424
342,288
638,773
100,729
36,164
39,681,378
The company had no property, plant and equipment at 31 December 2025 or 31 December 2024.

The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts.

Group
Company
2025
2024
2025
2024
£
£
£
£
Motor vehicles
20,519
36,164
-
0
-
0

The directors have valued property, plant and equipment as disclosed in note 2.

 

There are fixed and floating charges held over the freehold land and buildings by the group's bankers.

If revalued assets were stated on an historical cost basis rather than a fair value basis, the total amounts included would have been as follows:

2025
2024
£
£
Group
Freehold land and buildings cost
31,036,660
26,999,307
ASHTON HEALTHCARE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 24 -
12
Fixed asset investments
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Investments in subsidiaries
13
-
0
-
0
686,943
686,943
Movements in non-current investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 January 2025 and 31 December 2025
686,943
Carrying amount
At 31 December 2025
686,943
At 31 December 2024
686,943
13
Subsidiaries

Details of the company's subsidiaries at 31 December 2025 are as follows:

Name of undertaking
Registered
Nature of business
Class of
% Held
office
shares held
Direct
Indirect
Adelaide Healthcare Limited
See note a)
Provider of care services
Ordinary
100.00
0
Birchgrove Healthcare (Sussex) Limited
See note a)
Provider of care services
Ordinary
100.00
0
Ashton Project Management Limited
See note a)
Project management of development site
Ordinary
100.00
0
Grove Park Healthcare Group Limited
See note a)
Provider of care services
Ordinary
100.00
0
Hazeldene Project Management Limited
See note a)
Project management of development site
Ordinary
0
100.00

Registered office addresses

 

a) 13 Oathall Road, Haywards Heath, West Sussex, RH16 3EG.

ASHTON HEALTHCARE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 25 -
14
Trade and other receivables
Group
Company
2025
2024
2025
2024
Amounts falling due within one year:
£
£
£
£
Trade receivables
264,258
352,273
-
0
-
0
Amounts owed by group undertakings
-
0
-
0
765,208
-
0
Other receivables
813,778
177,883
4,870
5,425
Prepayments and accrued income
1,130,242
836,480
635,567
262,989
2,208,278
1,366,636
1,405,645
268,414
Deferred tax asset (note 19)
807,700
894,900
-
0
-
0
3,015,978
2,261,536
1,405,645
268,414
Amounts falling due after more than one year:
Amounts owed by group undertakings
-
0
-
0
6,829,210
6,824,370
Total debtors
3,015,978
2,261,536
8,234,855
7,092,784

Included within the company debtors falling due after more than one year, a discounting charge totalling £492,100 (2024 - £686,940) has been applied to this balance as no interest is charged on this balance. During the year the company received effective intercompany interest of £194,840 (2024 - £Nil) through a release of an element of this charge.

 

The going concern conclusions as disclosed in note 1.3 have therefore been arrived at on the basis that this balance will not be received within 12 months of the signing of the audit report.

15
Current liabilities
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Bank loans
18
-
0
353,595
-
0
353,595
Obligations under finance leases
17
6,069
10,742
-
0
-
0
Trade payables
321,801
296,638
-
0
-
0
Amounts owed to group undertakings
-
0
-
0
3,899,215
5,438,275
Other taxation and social security
140,954
119,893
-
0
-
0
Deferred income
182,915
276,836
-
0
-
0
Other payables
474,744
465,054
18
-
0
Accruals and deferred income
661,373
918,970
22,819
42,439
1,787,856
2,441,728
3,922,052
5,834,309
ASHTON HEALTHCARE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 26 -
16
Non-current liabilities
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Bank loans and overdrafts
18
27,500,000
22,622,026
27,500,000
22,622,026
Obligations under finance leases
17
18,242
37,268
-
0
-
0
Deferred income
60,366
60,366
-
0
-
0
27,578,608
22,719,660
27,500,000
22,622,026
17
Finance lease obligations
Group
Company
2025
2024
2025
2024
£
£
£
£
Future minimum lease payments due under finance leases:
Within one year
6,069
10,742
-
0
-
0
In two to five years
18,242
37,268
-
0
-
0
24,311
48,010
-
-

Finance lease payments represent rentals payable by the group for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is four years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments. These liabilities are secured on the liabilities they relate to.

18
Borrowings
Group
Company
2025
2024
2025
2024
£
£
£
£
Bank loans
27,500,000
22,975,621
27,500,000
22,975,621
Payable within one year
-
0
353,595
-
0
353,595
Payable after one year
27,500,000
22,622,026
27,500,000
22,622,026
ASHTON HEALTHCARE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
18
Borrowings
(Continued)
- 27 -

The bank loans are fully repayable within 5 years from the drawdown date of 30 September 2025. The rate of interest payable is 3.50% per annum plus the Lender's Base Rate. Capital repayments on the bank loans start 24 months after the drawdown date, following an initial interest-only period.

 

The bank loans are secured by a cross guarantee and debenture in favour of Metro Bank PLC, granted by members of the group including the company, Grove Park Healthcare Group Limited, Birchgrove Healthcare (Sussex) Limited and Adelaide Healthcare Limited dated 30 September 2025. The maximum extent of this contingent liability at the year end could have amounted to £36,510,000 (2024 - £22,975,621).

 

The bank also holds fixed and floating charges over all assets of the group, including legal charges over specific properties owned by the group companies.

 

The controlling parties Mr A S Shookhye and Mrs M B Shookhye have also provided personal guarantees totalling £5,190,000 (2024 - £5,200,000).

19
Deferred taxation

Deferred tax assets and liabilities are offset where the group or company has a legally enforceable right to do so. The following is the analysis of the deferred tax balances for financial reporting purposes:

Liabilities
Liabilities
Assets
Assets
2025
2024
2025
2024
Group
£
£
£
£
Accelerated capital allowances
662,300
641,500
146,300
173,500
Tax losses
-
-
660,700
721,400
Revaluations
2,305,500
2,305,500
-
-
Retirement benefit obligations
(500)
-
700
-
2,967,300
2,947,000
807,700
894,900
The company has no deferred tax assets or liabilities.
Group
Company
2025
2025
Movements in the year:
£
£
Liability at 1 January 2025
2,052,100
-
Charge to profit or loss
107,500
-
Liability at 31 December 2025
2,159,600
-
20
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
156,655
160,047
ASHTON HEALTHCARE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
20
Retirement benefit schemes
(Continued)
- 28 -

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

21
Share capital
2025
2024
Ordinary share capital
£
£
Issued and fully paid
188 A Ordinary shares of £1 each
188
188
12 C Ordinary shares of £1 each
12
12
200
200

A Ordinary shares entitle their holders to receive notice of and to attend and vote at any general meetings and agree to a proposed written resolution of the Company. The shares carry rights to dividends and other distributions in respect of the profits of the company. On a sale, winding-up, or other capital distribution of the company, the holders of A Ordinary shares shall be entitled firstly, to repayment of the nominal amount paid up or credited as paid up (including any premium) on such shares in conjunction with the holders of the C Ordinary shares and secondly, to 90% of the residue (if any) which shall be apportioned to the holders of the A Ordinary shares on a pro-rata basis to the number of shares held.

 

C Ordinary shares do not entitle their holders to receive notice of and to attend and vote at any general meeting and agree to a proposed written resolution of the Company. The shares carry rights to dividends and other distributions in respect of the profits of the company. On a sale, winding-up, or other capital distribution of the company, the holders of C Ordinary shares shall be entitled firstly, to repayment of the nominal amount paid up or credited as paid up (including any premium) on such shares in conjunction with the holders of A Ordinary shares and secondly, to 8% (the remaining 2% relates to B Ordinary shares but none have been issued as at the date of signing the financial statements) of the residue (if any) which shall be apportioned to the holders of the C Ordinary shares on a pro-rata basis to the number of shares held.

22
Operating lease commitments
Lessee

At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Group
Company
2025
2024
2025
2024
£
£
£
£
Within one year
28,837
31,669
-
-
Between two and five years
16,622
34,450
-
-
45,459
66,119
-
-
ASHTON HEALTHCARE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 29 -
23
Related party transactions
Remuneration of key management personnel

The remuneration of the key management personnel of the group, is as follows.

2025
2024
£
£
Aggregate compensation
10,920
57,300
Transactions with related parties

RCM Project Development Limited is a connected company through common control. At the year-end an amount of £700,000 (2024 - £nil) was owed from this connected company to the group.

24
Directors' transactions

Included within group other payables in current liabilities are directors' loan balances which total £100,449 (2024 - £59,516). No interest is charged on these balances.

 

During the year, the group purchased a property from a director for consideration of £3,500,000. The transaction was undertaken at market value and on terms considered to be equivalent to those available in an arm’s length transaction.

25
Controlling party

The company is controlled by Mr A S Shookhye and Mrs M B Shookhye,

26
Cash generated from group operations
2025
2024
£
£
Profit for the year after tax
358,172
1,136,128
Adjustments for:
Taxation charged
107,500
41,100
Finance costs
1,867,277
2,026,600
Investment income
(20,178)
(14,325)
Loss on disposal of property, plant and equipment
4,349
635
Amortisation and impairment of intangible assets
17,500
17,500
Depreciation and impairment of property, plant and equipment
202,159
198,538
Movements in working capital:
Decrease/(increase) in inventories
1,228
(679)
(Increase)/decrease in trade and other receivables
(841,642)
685,411
Decrease in trade and other payables
(201,683)
(243,958)
(Decrease)/increase in deferred income
(93,921)
79,721
Cash generated from operations
1,400,761
3,926,671
ASHTON HEALTHCARE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 30 -
27
Analysis of changes in net debt - group
1 January 2025
Cash flows
31 December 2025
£
£
£
Cash at bank and in hand
1,945,493
(207,949)
1,737,544
Borrowings excluding overdrafts
(22,975,621)
(4,524,379)
(27,500,000)
Obligations under finance leases
(48,010)
23,699
(24,311)
(21,078,138)
(4,708,629)
(25,786,767)
2025-12-312025-01-01falsefalseCCH SoftwareCCH Accounts Production 2026.100Mr A S ShookhyeMs R C ShookhyeMr M A ShookhyeMr R L ShookhyeMr R L ShookhyeMrs M B 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