Ashington House Limited - Accounts

Registered number

03870760

Ashington House Limited

Report and Accounts

31 December 2016

Fairman Harris

Chartered Accountants

Third Floor North

224-236 Walworth Road

London

SE17 1JE

Ashington House Limited
Registered number:			03870760
Director's Report
The director presents his report and accounts for the year ended 31 December 2016.
Principal activities
The company's principal activity during the year continued to be that of operating a care home for persons with learning disabilities.
Directors
The following persons served as directors during the year:
	A Dahya
Eugene Kavanagh was appointed on 29 November 2017
Director's responsibilities

The director is responsible for preparing the report and accounts in accordance with applicable law and regulations.
Company law requires the director to prepare accounts for each financial year. Under that law the director has elected to prepare the accounts 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 accounts unless they are 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 accounts, the director is required to:
●	select suitable accounting policies and then apply them consistently;
●	make judgements and estimates that are reasonable and prudent;
●	prepare the accounts 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 enable him to ensure that the accounts comply with the Companies Act 2006. He 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.

Disclosure of information to auditors

The director confirms that:
●	so far as he is aware, there is no relevant audit information of which the company's auditor is unaware; and
●	he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditor is aware of that information.

Small company provisions

This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.

This report was approved by the board on 23 March 2018 and signed on its behalf.

.....................................

Eugene Kavanagh

Director

Ashington House Limited

Independent auditors' report

to the member of Ashington House Limited

We have audited the accounts of Ashington House Limited for the year ended 31 December 2016 which comprise the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

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.

Respective responsibilities of directors and auditors

As explained more fully in the Statement of Director's Responsibilities, the director is responsible for the preparation of the accounts and for being satisfied that they give a true and fair view. Our responsibility is to audit and express an opinion on the accounts in accordance with applicable law and International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board's (APB's) Ethical Standards for Auditors.

In accordance with the exemption provided by APB Ethical Standard - Provisions Available for Smaller Entities (Revised), we have prepared and submitted the company’s returns to the tax authorities and assisted with the preparation of the accounts.

Scope of the audit of the accounts

A description of the scope of an audit of financial statements is provided on the APB’s website at www.frc.org.uk/auditscopeukprivate

Opinion on the accounts

In our opinion the accounts:
●	give a true and fair view of the state of the company's affairs as at 31 December 2016 and of its loss for the year then ended;
●	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice applicable to Smaller Entities; and
●	have been prepared in accordance with the requirements of the Companies Act 2006.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion the information given in the Directors' Report for the financial year for which the accounts are prepared is consistent with the accounts.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where 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 accounts are not in agreement with the accounting records and returns; or
●	certain disclosures of directors’ remuneration specified by law are not made; or
●	we have not received all the information and explanations we require for our audit; or
●	the directors were not entitled to prepare the accounts in accordance with the small companies regime and take advantage of the small companies’ exemption in preparing the directors’ report and take advantage of the small companies exemption from the requirement to prepare a strategic report.

..........................................................
F Meghani
(Senior Statutory Auditor)		Third Floor North
for and on behalf of		224-236 Walworth Road
Fairman Harris		London
Accountants and Statutory Auditors		SE17 1JE
10 April 2018

Ashington House Limited
Profit and Loss Account
for the year ended 31 December 2016
						2016		2015
£							£
Turnover						440,001		437,345
Administrative expenses						(417,009)		(396,366)
Operating profit						22,992		40,979
Write off of intercompany balances						(47,532)		-
Exceptional expenses						(2,800)		-
Interest payable						(45)		(3)
(Loss)/profit on ordinary activities before taxation						(27,385)		40,976
Tax on (loss)/profit on ordinary activities						(73)		(4,480)
(Loss)/profit for the financial year						(27,458)		36,496

Ashington House Limited
Registered number:			03870760
Balance Sheet
as at 31 December 2016
Notes				2016			2015
£					£
Fixed assets
Tangible assets	2			5,010			6,323
Current assets
Stocks			200			774
Debtors	3		66,431			73,806
Cash at bank and in hand			16,481			39,001
			83,112			113,581
Creditors: amounts falling due within one year	4		(42,631)			(46,955)
Net current assets				40,481			66,626
Total assets less current liabilities				45,491			72,949
Provisions for liabilities				(545)			(545)
Net assets				44,946			72,404
Capital and reserves
Called up share capital				2			2
Profit and loss account				44,944			72,402
Shareholder's funds				44,946			72,404
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Eugene Kavanagh
Director
Approved by the board on 23 March 2018

Ashington House Limited
Statement of Changes in Equity
for the year ended 31 December 2016
Share			Share		Re-		Profit		Total
capital			premium		valuation		and loss
reserve							account
£			£		£		£		£
At 1 January 2015		2		-		-		35,906		35,908
Profit for the financial year								36,496		36,496
At 31 December 2015		2		-		-		72,402		72,404
At 1 January 2016		2		-		-		72,402		72,404
Loss for the financial year								(27,458)		(27,458)
At 31 December 2016		2		-		-		44,944		44,946

Ashington House Limited
Notes to the Accounts
for the year ended 31 December 2016
1	Accounting policies
	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the service.
	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
	Leasehold improvements			Over the lease term
	Fixtures, fittings and equipment			15% of net book value
	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2	Tangible fixed assets
				Leasehold improvements		Fixtures, fittings and equipment		Total
£					£		£
	Cost
	At 1 January 2016			6,900		13,261		20,161
	At 31 December 2016			6,900		13,261		20,161
	Depreciation
	At 1 January 2016			6,265		7,573		13,838
	Charge for the year			460		853		1,313
	At 31 December 2016			6,725		8,426		15,151
	Net book value
	At 31 December 2016			175		4,835		5,010
	At 31 December 2015			635		5,688		6,323
3	Debtors					2016		2015
£							£
	Trade debtors					2,004		3,881
	Amounts owed by group undertakings and undertakings in which the company has a participating interest					54,435		51,514
	Other debtors					9,992		18,411
						66,431		73,806
4	Creditors: amounts falling due within one year					2016		2015
£							£
	Bank loans and overdrafts					804		-
	Trade creditors					4,311		4,133
	Corporation tax					6,302		6,085
	Other creditors					31,214		36,737
						42,631		46,955
5	Exceptional items					2016		2015
£							£
	Write off of intercompany balances					(47,532)		-
	During the year the group undertook a re-organisation excercise and wrote off group intercompany balances.
6	Related party transactions					2016		2015
£							£
	During the year the company had balances with and/or undertook transactions with its related parties, material details of which are as follows:
	Wesley Ltd
	Relationship: Ultimate controlling party
	Nature of transaction: Write off of intercompany balances
	Amount due from the related party					54,435		51,514
	Rent paid to the ultimate controlling party					48,000		48,000
	Wingreach Ltd
	Relationship: Common director
	Nature of transaction: Transfer
	Amount due to the related party							215
	Claymore Property Ltd
	Relationship: Common director
	Nature of transaction: Transfer
	Amount due from the related party							14,801
7	Controlling party
	The company's parent undertaking and its ultimate controlling party is Wesley Ltd, a company incorporated in Guernsey.
8	Other information
	Ashington House Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Third Floor North
	224-236 Walworth Road
	London
	SE17 1JE