Burton Addiction Centre Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03539372 (England and Wales)

THE BURTON ADDICTION CENTRE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs N Oliver MBE

Mr A Oliver

SECRETARY:

Mrs K Gray

REGISTERED OFFICE:

7 St John Street

Mansfield

Nottinghamshire

NG18 1QH

REGISTERED NUMBER:

03539372 (England and Wales)

ACCOUNTANTS:

ApC

Chartered Accountants

7 St John Street

Mansfield

Nottinghamshire

NG18 1QH

BANKERS:

HSBC

1 Lemming Street

Mansfield

Nottinghamshire

NG18 1LU

FIXED ASSETS

Tangible assets

5

2,056,344

2,042,976

Investment property

6

371,002

371,002

2,427,346

2,413,978

CURRENT ASSETS

Debtors

7

283,895

298,350

Cash at bank and in hand

3,614

2,633

287,509

300,983

CREDITORS

Amounts falling due within one year

8

778,062

998,531

NET CURRENT LIABILITIES

(490,553

)

(697,548

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,936,793

1,716,430

CREDITORS

Amounts falling due after more than one year

9

(1,516,255

)

(1,264,009

)

PROVISIONS FOR LIABILITIES

(13,540

)

(8,777

)

NET ASSETS

406,998

443,644

CAPITAL AND RESERVES

Called up share capital

11

1,000

1,000

Retained earnings

405,998

442,644

SHAREHOLDERS' FUNDS

406,998

443,644

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 December 2020 and were signed on its behalf by:

Mrs N Oliver MBE - Director

1.	STATUTORY INFORMATION

The Burton Addiction Centre Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

The significant judgements and estimates are as follows:

The directors estimate of the residual value of the properties and consider that if any depreciation was to be charged, would be immaterial.

The company is releasing a capital grant in respect of start up costs to support its contribution to the local community. The grant is released in line with the useful economic life of the assets that was purchased, and as such is in line with the depreciation policy of those assets

The other significant judgements and estimates are detailed in the accounting policy of the fixed assets depreciation rates. The rates are annually reviewed in line to what the directors believe the assets are worth taken into account the income streams generated by those assets.

Turnover

Turnover represents the value of rehabilitation and connected services provided to customers during the year. In respect of rehabilitation and connected services provided, all income is taken to profit and loss at the same point as the right to receive consideration has been acquired.

Grant income is received from local and central government to assist the company is providing rehabilitation services and projects where the company has tendered.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% straight line

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

33% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

15% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments

Financial instruments 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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Government grants

A government grant was received in respect of specific property capital expenditure and is treated as deferred income and is release to the profit and loss account over the estimated useful life of the asset to which it relates.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 92 (2019 - 92 ) .

5.	TANGIBLE FIXED ASSETS

Freehold

Short

Plant and

property

leasehold

machinery

£

£

£

COST

At 1 April 2019

1,953,898

227,240

42,496

Additions

17,671

60,064

4,996

At 31 March 2020

1,971,569

287,304

47,492

DEPRECIATION

At 1 April 2019

296,158

103,496

30,605

Charge for year

35,206

21,008

2,129

At 31 March 2020

331,364

124,504

32,734

NET BOOK VALUE

At 31 March 2020

1,640,205

162,800

14,758

At 31 March 2019

1,657,740

123,744

11,891

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2019

405,351

46,455

161,002

2,836,442

Additions

10,079

-

37,362

130,172

At 31 March 2020

415,430

46,455

198,364

2,966,614

DEPRECIATION

At 1 April 2019

225,732

6,224

131,251

793,466

Charge for year

29,039

10,058

19,364

116,804

At 31 March 2020

254,771

16,282

150,615

910,270

NET BOOK VALUE

At 31 March 2020

160,659

30,173

47,749

2,056,344

At 31 March 2019

179,619

40,231

29,751

2,042,976

Included in cost of land and buildings is freehold land of £ 269,677 (2019 - £ 269,677 ) which is not depreciated.

Included in the total net book value of tangible fixed assets held at 31 March 2019 was £30,173 (2019: £40,231) tor vehicles held on hire purchase.

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2019

and 31 March 2020

371,002

NET BOOK VALUE

At 31 March 2020

371,002

At 31 March 2019

371,002

The directors reviewed the valuation of the investment property on 31 March 2020 against the current market values at that date, and they do not believe that the value of the investment property is materially different to the value stated on the balance sheet. As such no further revaluation has been made.

At the balance sheet date the carrying value of revaluations included within investment properties was £Nil (2019: £Nil).

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

1,908

91,893

Amounts owed by related parties

36,817

-

Other debtors

245,170

206,457

283,895

298,350

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

405,666

433,397

Hire purchase contracts

3,796

3,671

Trade creditors

50,133

52,010

Amounts owed to related parties

150,474

111,441

Taxation and social security

42,980

35,365

Other creditors

125,013

362,647

778,062

998,531

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loans

575,679

679,594

Hire purchase contracts

24,735

41,031

Other creditors

915,841

543,384

1,516,255

1,264,009

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

165,275

222,077

10.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Bank overdrafts

275,703

298,709

Bank loans

705,642

814,282

Hire purchase contracts

28,531

44,702

1,009,876

1,157,693

The bank loans and overdraft is secured over the freehold and investment properties held in the company. The hire purchase liability is secured on the motor vehicles held on those agreements.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

1,000

Ordinary

£1

1,000

1,000

12.	CAPITAL COMMITMENTS

2020

2019

£

£

Contracted but not provided for in the

financial statements

-

-

13.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2020 and 31 March 2019:

2020

2019

£

£

Mrs N Oliver MBE and Mr A Oliver

Balance outstanding at start of year

82,247

(349

)

Amounts advanced

42,081

90,196

Amounts repaid

(7,600

)

(7,600

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

116,728

82,247

No interest was charged on the above amounts.

14.	RELATED PARTY DISCLOSURES

During the year the company had the following transactions, with businesses in which Mrs N Oliver and Mr A Oliver have an interest.

2020

2019

£

£

The company gave/(received) financial assistance to a related party;

117,606

108,197

At the balance sheet date the outstanding balances of related parties were as follows:

113,464

111,441

The following amounts of directors remuneration (including employers national insurance) are as follows:

2020

2019

£

£

Directors remuneration

106,638

106,695

Directors pension contributions

-

106,695

106,767

Key management personnel remuneration in the year totalled £244,649. (2019: £264,529)