COMPANY REGISTRATION NUMBER:
07333550
ASHTON HOUSE CARE LIMITED |
|
FILLETED UNAUDITED FINANCIAL STATEMENTS |
|
ASHTON HOUSE CARE LIMITED |
|
STATEMENT OF FINANCIAL POSITION |
|
31 August 2022
Fixed assets
Tangible assets |
4 |
|
425,000 |
|
425,000 |
|
|
|
|
|
|
Creditors: amounts falling due within one year |
5 |
(
210,223) |
|
(
210,223) |
|
|
------------ |
|
------------ |
|
Net current liabilities |
|
(
210,223) |
|
(
210,223) |
|
|
------------ |
|
------------ |
Total assets less current liabilities |
|
214,777 |
|
214,777 |
|
|
|
|
|
|
Provisions
Taxation including deferred tax |
|
(
45,333) |
|
(
45,333) |
|
|
------------ |
|
------------ |
Net assets |
|
169,444 |
|
169,444 |
|
|
------------ |
|
------------ |
|
|
|
|
|
Capital and reserves
Called up share capital |
|
3 |
|
3 |
Revaluation reserve |
|
170,191 |
|
170,191 |
Profit and loss account |
|
(
750) |
|
(
750) |
|
|
------------ |
|
------------ |
Shareholders funds |
|
169,444 |
|
169,444 |
|
|
------------ |
|
------------ |
|
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 August 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
ASHTON HOUSE CARE LIMITED |
|
STATEMENT OF FINANCIAL POSITION (continued) |
|
31 August 2022
These financial statements were approved by the
board of directors
and authorised for issue on
26 May 2023
, and are signed on behalf of the board by:
Company registration number:
07333550
ASHTON HOUSE CARE LIMITED |
|
NOTES TO THE FINANCIAL STATEMENTS |
|
YEAR ENDED 31 AUGUST 2022
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 24 Woolsington Park South, Woolsington, Newcastle upon Tyne, NE13 8BJ.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain fixed assets in accordance with the accounting policies set out below.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Taxation
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss. Depreciation Freehold land of £425,000 (historical cost £209,477) has not been depreciated.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4.
Tangible assets
|
Land and buildings |
|
£ |
Valuation |
|
At 1 September 2021 and 31 August 2022 |
425,000 |
|
------------ |
Depreciation |
|
At 1 September 2021 and 31 August 2022 |
– |
|
------------ |
Carrying amount |
|
At 31 August 2022 |
425,000 |
|
------------ |
At 31 August 2021 |
425,000 |
|
------------ |
|
|
Tangible assets held at valuation
The freehold land was valued by the directors at 31 August 2022, based on professional valuations at market value as at 21 July 2020.
In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:
|
Freehold property |
|
£ |
At 31 August 2022 |
|
Aggregate cost |
209,477 |
Aggregate depreciation |
– |
|
------------ |
Carrying value |
209,477 |
|
------------ |
|
|
At 31 August 2021 |
|
Aggregate cost |
209,477 |
Aggregate depreciation |
– |
|
------------ |
Carrying value |
209,477 |
|
------------ |
|
|
5.
Creditors:
amounts falling due within one year
|
2022 |
2021 |
|
£ |
£ |
Other creditors |
210,223 |
210,223 |
|
------------ |
------------ |
|
|
|
6.
Related party transactions
Other creditors include an amount of £2,805 (2021: £2,805) due to the directors at the year end. No other transactions with related parties were undertaken such as are required to be disclosed under the Financial Reporting Standard 102 Section 1A.