ACCOUNTS - Final Accounts

Operating profit

The operating profit is stated after charging:

Registered number: 10887988

ASHMERE NOTTINGHAMSHIRE LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

ASHMERE NOTTINGHAMSHIRE LIMITED

COMPANY INFORMATION

Director	Claire Sharpe


Company secretary	Dr Michael Poxton


Registered number	10887988


Registered office	Priestsic Road
	Sutton-In-Ashfield
	Nottingham
	Nottinghamshire
	NG17 2AH


Independent auditors	PKF Smith Cooper Audit Limited
	Statutory Auditors
	Prospect House
	1 Prospect Place
	Millennium Way
	DE24 8HG

ASHMERE NOTTINGHAMSHIRE LIMITED

CONTENTS

	Page
Strategic Report	1
Director's Report	2 - 3
Independent Auditors' Report	4 - 7
Statement of Comprehensive Income	8
Balance Sheet	9
Statement of Changes in Equity	10
Statement of Cash Flows	11
Analysis of Net Debt	12
Notes to the Financial Statements	13 - 26

ASHMERE NOTTINGHAMSHIRE LIMITED

STRATEGIC REPORT

FOR THE YEAR ENDED 31 MARCH 2026

Introduction

The director presents the Company Strategic Report for the year ended 31 March 2026.

Business review

Ashmere Nottinghamshire Limited has achieved turnover of £5,588,666 (2025: £5,084,786) for the period ended 31 March 2026. The Company generated a profit before tax of £1,130,196 (2025: £1,026,078) and continues to maintain a strong workforce employing 141 (2025: 142) staff incurring minimal expenditure on agency staff.

The Company has net assets of £7,085,610 (2025: £6,847,577) and net current assets of £2,112,767 (2025: £1,727,845) highlighting the financial performance in the year and the strong brand of the Company overall.

The Company has limited exposure to finance costs, primarily arising from a bank loan. During the year, a significant proportion of the loan was repaid from income generated throughout the year, strengthening the Company's financial position and reducing future interest costs.

The Company has continued to maintain the high standards of care within the three separate care homes all located on one site in Sutton in Ashfield. Each of the homes has a minimum rating of 'good' by the CQC.

Principal risks and uncertainties

The Company regularly evaluates the key risks and uncertainties to which it is exposed and takes these into consideration as part of its strategic decision-making process. The principal risks identified include the potential loss of significant care contracts, variability in social services placements, rising workforce costs, and increased competition arising from new care providers establishing facilities within the region.

Financial key performance indicators

Key performance indicator for the Company is turnover which is discussed above. Turnover is directly correlated to the occupancy levels in each care home.

Other key performance indicators

Non-financial key performance indicators are care quality levels determined from CQC inspection.

This report was approved by the board on 15 October 2026 and signed on its behalf.

Claire Sharpe

Director

Page 1

ASHMERE NOTTINGHAMSHIRE LIMITED

DIRECTOR'S REPORT

FOR THE YEAR ENDED 31 MARCH 2026

The director presents her report and the financial statements for the year ended 31 March 2026.

Director's responsibilities statement

The director is responsible for preparing the Strategic Report, the Director's Report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless she is satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

In preparing these financial statements, the director is required to:

∙select suitable accounting policies for the Company's financial statements and then apply them consistently;

∙make judgments and accounting estimates that are reasonable and prudent;

∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable her to ensure that the financial statements comply with the Companies Act 2006. She is also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Results and dividends

The profit for the year, after taxation, amounted to £834,093 (2025 - £769,238).

A dividend of £596,060 (2025: £581,947) was recommended and paid during the year. No further dividend is recommended.

Director

The director who served during the year was:

Claire Sharpe

Future developments

The director does not consider that there are any future developments which require disclosure within the financial statements.

Disclosure of information to auditors

The director at the time when this Director's Report is approved has confirmed that:

∙so far as she is aware, there is no relevant audit information of which the Company's auditors are unaware, and

∙she has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Page 2

ASHMERE NOTTINGHAMSHIRE LIMITED

DIRECTOR'S REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2026

Post balance sheet events

There have been no significant events affecting the Company since the year end.

Auditors

Under section 487(2) of the Companies Act 2006, PKF Smith Cooper Audit Limited will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.

This report was approved by the board on 15 October 2026 and signed on its behalf.

Claire Sharpe

Director

Page 3

ASHMERE NOTTINGHAMSHIRE LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ASHMERE NOTTINGHAMSHIRE LIMITED

Opinion

We have audited the financial statements of Ashmere Nottinghamshire Limited (the 'Company') for the year ended 31 March 2026, which comprise the Statement of Comprehensive Income, the Analysis of Net Debt, the Balance Sheet, the Statement of Cash Flows, the Statement of Changes in Equity and the related notes, 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 Financial Reporting Standard 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:

∙give a true and fair view of the state of the Company's affairs as at 31 March 2026 and of its profit for the year then ended;

∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

∙have been prepared in accordance with the requirements of the Companies Act 2006.

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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 director's 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 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 director 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 Auditors' Report thereon. The director is 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.

Page 4

ASHMERE NOTTINGHAMSHIRE LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ASHMERE NOTTINGHAMSHIRE LIMITED (CONTINUED)

Opinion on other matters prescribed by the Companies Act 2006

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

∙the information given in the Strategic Report and the Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

∙the Strategic Report and the Director's Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Director's 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:

∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

∙the financial statements are not in agreement with the accounting records and returns; or

∙certain disclosures of director's remuneration specified by law are not made; or

∙we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Director's Responsibilities Statement set out on page 2, the director is 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 director determines 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 director is responsible for assessing the 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 director either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

Page 5

ASHMERE NOTTINGHAMSHIRE LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ASHMERE NOTTINGHAMSHIRE LIMITED (CONTINUED)

Auditors' 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 Auditors' 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:

Based on our understanding of the Company and industry, we identify the key laws and regulations affecting the
Company. We identified that the principal risk of fraud or non-compliance with laws and regulations related to:

∙Management bias in respect of accounting estimates and judgements made;

∙Management override of control;

∙Posting of unusual journals or transactions;

∙Non-compliance with CQC regulations.

We focused on those areas that could give rise to a material misstatement in the Company financial statements. Our procedures included, but were not limited to:

∙Enquiry of management and those charged with governance around actual and potential litigation and claims, including instances of non-compliance with laws and regulations and fraud;

∙Reviewing minutes of meetings of those charged with governance where available;

∙Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;

∙Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias, including estimates that require judgement and are key sources of estimation uncertainty as detailed in note 3.

It is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.

Page 6

ASHMERE NOTTINGHAMSHIRE LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ASHMERE NOTTINGHAMSHIRE LIMITED (CONTINUED)

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 Auditors' 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.

James Delve (Senior Statutory Auditor)

for and on behalf of

PKF Smith Cooper Audit Limited

Statutory Auditors

Prospect House

1 Prospect Place

Millennium Way

DE24 8HG

15 October 2026

Page 7

ASHMERE NOTTINGHAMSHIRE LIMITED

STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 MARCH 2026

	2026	2025
Note	£	£


Turnover	4	5,588,666	5,084,786
Cost of sales		(3,092,841)	(2,872,753)
Gross profit		2,495,825	2,212,033
Administrative expenses		(1,395,799)	(1,224,398)
Other operating income	5	13,500	30,185
Operating profit	6	1,113,526	1,017,820
Interest receivable and similar income	10	19,231	24,884
Interest payable and similar expenses	11	(2,561)	(16,626)
Profit before tax		1,130,196	1,026,078
Tax on profit	12	(296,103)	(256,840)
Profit for the financial year		834,093	769,238

There was no other comprehensive income for 2026 (2025:£NIL).

The notes on pages 13 to 26 form part of these financial statements.

Page 8

ASHMERE NOTTINGHAMSHIRE LIMITED

REGISTERED NUMBER: 10887988

BALANCE SHEET

AS AT 31 MARCH 2026

		2026		2025
Note		£		£

Fixed assets
Intangible assets	14		95,100		142,649
Tangible fixed assets	15		4,924,786		5,052,681
			5,019,886		5,195,330
Current assets
Stocks	16	3,339		3,339
Debtors: amounts falling due after more than one year	17	327,505		327,505
Debtors: amounts falling due within one year	17	343,118		308,873
Cash at bank and in hand	18	2,005,760		1,678,901
		2,679,722		2,318,618
Creditors: amounts falling due within one year	19	(566,955)		(590,773)
Net current assets			2,112,767		1,727,845
Total assets less current liabilities			7,132,653		6,923,175
Provisions for liabilities
Deferred tax	21		(47,043)		(75,598)
Net assets			7,085,610		6,847,577

Capital and reserves
Called up share capital	22	100	100
Share premium account	23	2,124,408	2,124,408
Profit and loss account	23	4,961,102	4,723,069
		7,085,610	6,847,577

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 15 October 2026.

Claire Sharpe

Director

The notes on pages 13 to 26 form part of these financial statements.

Page 9

ASHMERE NOTTINGHAMSHIRE LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MARCH 2026

	Called up share capital	Share premium account	Profit and loss account	Total equity
	£	£	£	£
At 1 April 2024	100	2,124,408	4,535,778	6,660,286
Comprehensive income for the year
Profit for the year	-	-	769,238	769,238
Total comprehensive income for the year	-	-	769,238	769,238
Contributions by and distributions to owners
Dividends: Equity capital	-	-	(581,947)	(581,947)
Total transactions with owners	-	-	(581,947)	(581,947)

At 1 April 2025	100	2,124,408	4,723,069	6,847,577
Comprehensive income for the year
Profit for the year	-	-	834,093	834,093
Other comprehensive income for the year	-	-	-	-
Total comprehensive income for the year	-	-	834,093	834,093
Contributions by and distributions to owners
Dividends: Equity capital	-	-	(596,060)	(596,060)
Total transactions with owners	-	-	(596,060)	(596,060)
At 31 March 2026	100	2,124,408	4,961,102	7,085,610

The notes on pages 13 to 26 form part of these financial statements.

Page 10

ASHMERE NOTTINGHAMSHIRE LIMITED

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2026

			2026	2025
			£	£

Cash flows from operating activities
Profit for the financial year	834,093	769,238
Adjustments for:
Amortisation of intangible assets	47,549	47,549
Depreciation of tangible assets	253,122	230,992
Profit on disposal of tangible assets	(11,785)	-
Interest paid	2,561	16,626
Interest received	(19,231)	(24,884)
Taxation charge	296,103	256,840
(Increase) in debtors	(34,245)	(29,099)
Increase/(decrease) in creditors	52,640	(21,825)
Corporation tax (paid)	(310,509)	(368,896)
Net cash generated from operating activities	1,110,298	876,541

Cash flows from investing activities
Purchase of tangible fixed assets	(169,332)	(201,653)
Sale of tangible fixed assets	55,890	-
Interest received	19,231	24,884
Net cash from investing activities	(94,211)	(176,769)
Cash flows from financing activities
Repayment of loans	(90,607)	(206,847)
Dividends paid	(596,060)	(581,947)
Interest paid	(2,561)	(16,626)
Net cash used in financing activities	(689,228)	(805,420)
Net increase/(decrease) in cash and cash equivalents	326,859	(105,648)
Cash and cash equivalents at beginning of year	1,678,901	1,784,549
Cash and cash equivalents at the end of year	2,005,760	1,678,901

Cash and cash equivalents at the end of year comprise:
Cash at bank and in hand	2,005,760	1,678,901

The notes on pages 13 to 26 form part of these financial statements.

Page 11

ASHMERE NOTTINGHAMSHIRE LIMITED

ANALYSIS OF NET DEBT

FOR THE YEAR ENDED 31 MARCH 2026


At 1 April 2025	Cash flows	At 31 March 2026
£	£	£

Cash at bank and in hand	1,678,901	326,859	2,005,760
Debt due within 1 year	(99,816)	90,607	(9,209)
	1,579,085	417,466	1,996,551

The notes on pages 13 to 26 form part of these financial statements.

Page 12

ASHMERE NOTTINGHAMSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

1.	General information

Ashmere Nottinghamshire Limited is a private company limited by shares and incorporated in England. The registered office is Priestsic Road, Sutton-In-Ashfield, Nottinghamshire, NG17 2AH. The Company registration number is 10887988. The nature of the Company's operations and principal activities is the provision of care services.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The Company's functional and presentational currency is GBP.

The financial statements are rounded to the nearest £.

The following principal accounting policies have been applied:

2.2

Going concern

After reviewing the Company's forecasts and projections, the director has concluded that the Company has adequate resources to continue in operational existence for the foreseeable future and at least 12 months from the date of approval of these financial statements. As such the Company continues to adopt the going concern basis in preparing its financial statements.

2.3

Revenue

Turnover comprises revenue recognised by the Company in respect of its principal activity, being that of a residential care provider.

Turnover is recognised when goods and services are provided.

2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.

Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 13

ASHMERE NOTTINGHAMSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

2.Accounting policies (continued)

2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.10

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Comprehensive Income.

Page 14

ASHMERE NOTTINGHAMSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

2.Accounting policies (continued)

2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property	-	No depreciation provided (See Note 3)
Motor vehicles	-	25% straight line
Fixtures and fittings	-	20% straight line
Office equipment	-	20% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.12

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.13

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

2.15

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 15

ASHMERE NOTTINGHAMSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

2.Accounting policies (continued)

2.16

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company 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.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Basic financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Page 16

ASHMERE NOTTINGHAMSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

2.Accounting policies (continued)

2.16

Financial instruments (continued)

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

2.17

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

The directors do not consider it appropriate to depreciate freehold property, since, in their opinion, any charge of depreciation would be immaterial as the estimated residual value of the buildings is not materiality different from the carrying value of the building.

Turnover

An analysis of turnover by class of business is as follows:
	2026	2025
	£	£

	Care services	5,588,666	5,084,786

All turnover arose within the United Kingdom.

5.	Other operating income
		2026	2025
		£	£

	Government grants receivable	13,500	30,185

	Depreciation	253,122	230,992
	Amortisation	47,549	47,549

Page 17

ASHMERE NOTTINGHAMSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

Fees payable to the Company's auditors for the audit of the Company's financial statements

11,235

10,700

Wages and salaries	2,735,437	2,621,940
Social security costs	284,619	186,634
Cost of defined contribution scheme	51,215	49,937
	3,071,271	2,858,511

The average monthly number of employees, including the director, during the year was as follows:

	2026	2025
	No.	No.

Care home staff	130	131
Head office staff	11	11

	141	142

9.	Director's remuneration
		2026	2025
		£	£

Director's emoluments	2,300	1,758
Company contributions to defined contribution pension schemes	3,000	3,000
	5,300	4,758

During the year retirement benefits were accruing to 1 director (2025 - 1) in respect of defined contribution pension schemes.

Page 18

ASHMERE NOTTINGHAMSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

10.	Interest receivable
		2026	2025
		£	£

Other interest receivable

19,231

24,884

11.	Interest payable and similar expenses
		2026	2025
		£	£

Bank interest payable

2,561

16,626

Corporation tax
Current tax on profits for the year	328,983	305,006
Adjustments in respect of previous periods	(4,325)	(4,505)

Total current tax	324,658	300,501

Deferred tax
Origination and reversal of timing differences	(30,914)	(35,294)
Adjustments in respect of prior periods	2,359	(8,367)
Total deferred tax	(28,555)	(43,661)


	Taxation on profit on ordinary activities	296,103	256,840

Page 19

ASHMERE NOTTINGHAMSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

12.Taxation (continued)

Profit on ordinary activities before tax

1,130,196

1,026,078

Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2025 - 25%)	282,549	256,520
Effects of:
Expenses not deductible for tax purposes, other than goodwill amortisation and impairment	811	34
Capital allowances for year in excess of depreciation	14,687	13,158
Adjustments to tax charge in respect of prior periods - current tax	(4,325)	(4,505)
Adjustments to tax charge in respect of prior periods - deferred tax	2,358	(8,367)
Other tax adjustments, reliefs and transfers	23	-
Total tax charge for the year	296,103	256,840

Page 20

ASHMERE NOTTINGHAMSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

12.Taxation (continued)

Factors that may affect future tax charges

There were no factors that may affect future tax charges.

13.	Dividends
		2026	2025
		£	£

Dividends paid on ordinary "A" Shares	317,559	297,754
Dividends paid on ordinary "B" Shares	191,317	188,569
Dividends paid on ordinary "C" Shares	87,184	95,624
	596,060	581,947

14.	Intangible assets

		Goodwill
		£
	Cost
	At 1 April 2025	475,492
	At 31 March 2026	475,492
	Amortisation
	At 1 April 2025	332,843
	Charge for the year on owned assets	47,549
	At 31 March 2026	380,392
	Net book value
	At 31 March 2026	95,100
	At 31 March 2025	142,649

Page 21

ASHMERE NOTTINGHAMSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

15.	Tangible fixed assets

	Freehold property	Motor vehicles	Fixtures and fittings	Office equipment	Total
	£	£	£	£	£
Cost
At 1 April 2025	4,397,455	155,983	1,339,196	5,172	5,897,806
Additions	-	124,870	44,093	369	169,332
Disposals	-	(111,740)	-	-	(111,740)
At 31 March 2026	4,397,455	169,113	1,383,289	5,541	5,955,398
Depreciation
At 1 April 2025	-	90,214	751,225	3,686	845,125
Charge for the year on owned assets	-	44,804	207,222	1,096	253,122
Disposals	-	(67,635)	-	-	(67,635)
At 31 March 2026	-	67,383	958,447	4,782	1,030,612
Net book value
At 31 March 2026	4,397,455	101,730	424,842	759	4,924,786
At 31 March 2025	4,397,455	65,769	587,971	1,486	5,052,681

16.	Stocks
		2026	2025
		£	£

	Food and cleaning stocks	3,339	3,339

Page 22

ASHMERE NOTTINGHAMSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

17.	Debtors
		2026	2025
		£	£

Due after more than one year
Other debtors (note 26)	327,505	327,505

					2026	2025
					£	£

Due within one year
Trade debtors	104,002	77,378
Other debtors (note 26)	207,608	201,062
Prepayments and accrued income	31,508	30,433
	343,118	308,873

18.	Cash and cash equivalents
		2026	2025
		£	£

	Cash at bank and in hand	2,005,760	1,678,901

19.	Creditors: Amounts falling due within one year
		2026	2025
		£	£

Bank loans	9,209	99,816
Trade creditors	204,706	168,961
Amounts owed to connected companies	40,397	40,397
Corporation tax	178,743	164,594
Other taxation and social security	45,140	32,422
Other creditors	63,991	59,814
Accruals and deferred income	24,769	24,769
	566,955	590,773

Bank loans are all due within one year. On 10 March 2023, the Company refinanced their existing bank loan. The loan is repayable in equal installments over 180 months with a final balancing payment due on the Final Repayment Date. Interest on the loan is charged at 2.15% pa over Base Rate. The loan is secured over the Freehold Property.

Page 23

ASHMERE NOTTINGHAMSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

20.	Financial instruments
		2026	2025
		£	£

	Financial assets
	Financial assets measured at fair value through profit or loss	639,115	605,945

	Financial liabilities
	Financial liabilities measured at amortised cost	309,094	368,988

Financial assets measured at fair value through profit or loss comprise of trade debtors, amounts owed
by connected companies and other debtors.

Financial liabilities measured at amortised cost comprise bank loans, trade creditors, amounts owed to connected companies and other creditors.

Page 24

ASHMERE NOTTINGHAMSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

21.	Deferred taxation

		2026
		£

	At beginning of year	(75,598)
	Charged to profit or loss	28,555
	At end of year	(47,043)

The provision for deferred taxation is made up as follows:
	2026	2025
	£	£

Accelerated capital allowances	(48,115)	(76,515)
Short term timing differences	1,072	917
	(47,043)	(75,598)

The expected reversal of deferred tax is not considered to be material.

22.	Share capital
		2026	2025
		£	£

Allotted, called up and fully paid

40 (2025 - 40) A Ordinary shares of £1.00 each	40	40
30 (2025 - 30) B Ordinary shares of £1.00 each	30	30
5 (2025 - 5) C Ordinary shares of £1.00 each	5	5
25 (2025 - 25) D Ordinary shares of £1.00 each	25	25

	100	100

Ordinary "A", "B" & "C" shares entitle the holders to receive notice and attend general meetings of the Company, entitle holders to vote on shareholder resolutions, have no restriction on distribution of dividends, and entitle the holders for return on capital to their respective shareholdings.

Ordinary "D" shares do not entitle the holders to receive notice and attend general meetings of the Company, do not entitle holders to vote on any shareholder resolutions, do not entitle holders to receive dividends, but entitle the holders for return on capital to their respective shareholdings. The Ordinary "D" shares will rank parri passu with all other shares upon repayment of bank loans.

Page 25

ASHMERE NOTTINGHAMSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

23.

Reserves

Share premium account

Includes premiums received on issue of share capital, less associated transaction costs arising from the share issue and is not distributable.

Profit and loss account

Includes all distributable current and prior period retained profits and losses.

24.	Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £51,215 (2025 - £49,937). Contributions totaling £4,282 (2025 - £11,264) were payable to the fund at the balance sheet date and are included in creditors.

25.

Related party transactions

Within other debtors is £330,318 (2025: £328,479) owed by connected companies. £327,505 (2025: £327,505) of the amounts repayable are due after one year. The amount is interest free.

At the year end, dividends totaling £40,397 (2025: £40,397) were owed to Ashmere Nottinghamshire Holding Limited.

Within other debtors is £136,443 (2025: £136,443) owed by shareholders. No interest is charged and there are no set repayment terms. Of this, £40,738 (2025: £40,738) is owed by the director.

Payments made to key management during the period totaled £131,283 (2025: £107,097). The director's remuneration is disclosed in note 9 of the financial statements.

26.	Controlling party

The ultimate controlling party is Claire Sharpe, by virtue of entitlement to the majority of voting rights.

Page 26