The Beeches Prof & Therapeutic Services - Limited company accounts 20.1
The Beeches Prof & Therapeutic Services - Limited company accounts 20.1
REGISTERED NUMBER: NI028742 (Northern Ireland) |
Group Strategic Report, |
Report of the Directors and |
Consolidated Financial Statements |
for the Year Ended 31 December 2021 |
for |
The Beeches Professional and Therapeutic |
Services Limited |
The Beeches Professional and Therapeutic |
Services Limited (Registered number: NI028742) |
Contents of the Consolidated Financial Statements |
for the Year Ended 31 December 2021 |
Page |
Company Information | 1 |
Group Strategic Report | 2 |
Report of the Directors | 3 |
Report of the Independent Auditors | 5 |
Consolidated Income Statement | 9 |
Consolidated Other Comprehensive Income | 10 |
Consolidated Balance Sheet | 11 |
Company Balance Sheet | 13 |
Consolidated Statement of Changes in Equity | 15 |
Company Statement of Changes in Equity | 16 |
Consolidated Cash Flow Statement | 17 |
Notes to the Consolidated Cash Flow Statement | 18 |
Notes to the Consolidated Financial Statements | 20 |
The Beeches Professional and Therapeutic |
Services Limited |
Company Information |
for the Year Ended 31 December 2021 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants and Registered Auditors |
Garvey Studios |
14 Longstone Street |
Lisburn |
Co. Antrim |
BT28 1TP |
The Beeches Professional and Therapeutic |
Services Limited (Registered number: NI028742) |
Group Strategic Report |
for the Year Ended 31 December 2021 |
The directors present their strategic report of the company and the group for the year ended 31 December 2021. |
REVIEW OF BUSINESS |
The Company provides nursing home facilities, nurse-led clinical care and specialised support to adults with a learning disability who have complex medical and physical needs. It has two Nursing Homes, one in Aghalee and one in Ballynahinch, which generates the vast majority of its income and profit.The Company also provides day care facilities for babies and primary school children at their day nursery which is based in Aghalee. The Beeches Property Limited and The Beeches Catering Limited which are subsidiaries of the company are only in receipt of rental income. |
The turnover during the year increased by just over 4%, whilst the running costs decreased by just under 3% causing a increase in the operating profit from £496,920 for the year ended 31 December 2020 to £765,552 for the current year. The Group Balance Sheet remains strong with Total Capital and Reserves of £3,761,104. Going forward, the directors appreciate the economic position and are continuously looking at opportunities to increase income whether it is through increasing prices, capacity or additional services. They are also reviewing costs and are aware of the effects on profitability from future changes in the economy and legislation. |
PRINCIPAL RISKS AND UNCERTAINTIES |
The Company does not anticipate any significant change to the business risks of the Company. Increasing pricing continues to be difficult and the increase in the minimum wage will continue to have an effect on profitability. The directors are aware of these issues and continue to look at improving revenue streams and managing costs without affecting services to their customers. |
ON BEHALF OF THE BOARD: |
The Beeches Professional and Therapeutic |
Services Limited (Registered number: NI028742) |
Report of the Directors |
for the Year Ended 31 December 2021 |
The directors present their report with the financial statements of the company and the group for the year ended 31 December 2021. |
DIVIDENDS |
Interim dividends per share were paid during the year as follows: |
Ordinary A £1 | - | £4.6126 | - 13 April 2021 |
Ordinary B £1 | - | £3.1048 | - 13 April 2021 |
Ordinary C £1 | - | £4.6126 | - 13 April 2021 |
Ordinary E £1 | - | £13.1844 | - 13 April 2021 |
Ordinary F £1 | - £18.83480 | - 13 April 2021 |
The total distribution of dividends for the year ended 31 December 2021 will be £ 378,444 . |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 January 2021 to the date of this report. |
STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors 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 company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to: |
- | select suitable accounting policies and then apply them consistently; |
- | make judgements 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 directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
The Beeches Professional and Therapeutic |
Services Limited (Registered number: NI028742) |
Report of the Directors |
for the Year Ended 31 December 2021 |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information. |
AUDITORS |
The auditors, McCleary & Company Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
ON BEHALF OF THE BOARD: |
Report of the Independent Auditors to the Members of |
The Beeches Professional and Therapeutic |
Services Limited |
Opinion |
We have audited the financial statements of The Beeches Professional and Therapeutic Services Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2021 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, 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 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 group's and of the parent company affairs as at 31 December 2021 and of the group's 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 group 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 the 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. |
Report of the Independent Auditors to the Members of |
The Beeches Professional and Therapeutic |
Services Limited |
Other information |
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. |
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. |
In connection with our audit of the financial statements, 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 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 the audit: |
- | the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Group Strategic Report and the Report of the Directors 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors. |
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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or |
- | the parent company financial statements 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. |
Responsibilities of directors |
As explained more fully in the Statement of Directors' Responsibilities set out on page three, 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 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 group's and 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 group or the parent company or to cease operations, or have no realistic alternative but to do so. |
Report of the Independent Auditors to the Members of |
The Beeches Professional and Therapeutic |
Services Limited |
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 a Report of the Auditors 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. |
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
Having considered the nature of the business and the sector in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to breaches of health and safety laws and environmental regulations. We considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that do not have a direct impact on the preparation of the financial statements but compliance with which may be fundamental to the Company's ability to operate such as the Companies Act 2006. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of control). Audit procedures performed included: |
- Assessment of compliance with key laws and regulations; |
- Identifying and testing journal entries for appropriateness, evaluating the rationale for significant |
transactions outside what is normal for the company and assessing whether the judgments made in |
making accounting estimates are indicative of potential bias, in order to assess the risk of fraud through |
management override of controls; |
- Analytical procedures to identify any unusual or unexpected relationships that may indicate risks of |
material misstatement due to fraud; |
- Reviewing assumptions and judgments made by management in significant accounting estimates; |
- Reviewing the disclosures in the financial statements against the specific legal requirements. |
We communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. |
There are inherent limitations in the audit procedures outlined above. We are less likely to become aware of instances with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment. |
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 Report of the Auditors. |
Report of the Independent Auditors to the Members of |
The Beeches Professional and Therapeutic |
Services Limited |
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 a Report of the Auditors 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. |
for and on behalf of |
Chartered Accountants and Registered Auditors |
Garvey Studios |
14 Longstone Street |
Lisburn |
Co. Antrim |
BT28 1TP |
McCleary & Company Ltd. |
The Beeches Professional and Therapeutic |
Services Limited (Registered number: NI028742) |
Consolidated |
Income Statement |
for the Year Ended 31 December 2021 |
31.12.21 | 31.12.20 |
Notes | £ | £ |
TURNOVER | 5,297,491 | 5,052,386 |
Distribution costs | (3,609,535 | ) | (3,622,562 | ) |
Administrative expenses | (1,222,450 | ) | (1,344,495 | ) |
465,506 | 85,329 |
Other operating income | 300,046 | 411,591 |
OPERATING PROFIT | 4 | 765,552 | 496,920 |
Interest payable and similar expenses | 5 | (34,300 | ) | (41,200 | ) |
PROFIT BEFORE TAXATION | 731,252 | 455,720 |
Tax on profit | 6 | (157,990 | ) | (151,282 | ) |
PROFIT FOR THE FINANCIAL YEAR |
Profit attributable to: |
Owners of the parent | 573,262 | 304,438 |
The Beeches Professional and Therapeutic |
Services Limited (Registered number: NI028742) |
Consolidated |
Other Comprehensive Income |
for the Year Ended 31 December 2021 |
31.12.21 | 31.12.20 |
Notes | £ | £ |
PROFIT FOR THE YEAR | 573,262 | 304,438 |
OTHER COMPREHENSIVE INCOME |
Revaluation of property |
Capital redemption reserve | (55,208 | ) | (55,208 | ) |
Income tax relating to other comprehensive income |
- |
- |
OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX |
(55,208 |
) |
(55,208 |
) |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
518,054 |
249,230 |
Total comprehensive income attributable to: |
Owners of the parent | 518,054 | 249,230 |
The Beeches Professional and Therapeutic |
Services Limited (Registered number: NI028742) |
Consolidated Balance Sheet |
31 December 2021 |
31.12.21 | 31.12.20 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 9 | 5,536,864 | 5,702,431 |
Investments | 10 | - | - |
5,536,864 | 5,702,431 |
CURRENT ASSETS |
Debtors | 11 | 517,674 | 576,127 |
Cash at bank and in hand | 738,664 | 534,506 |
1,256,338 | 1,110,633 |
CREDITORS |
Amounts falling due within one year | 12 | (2,203,062 | ) | (2,193,479 | ) |
NET CURRENT LIABILITIES | (946,724 | ) | (1,082,846 | ) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
4,590,140 |
4,619,585 |
CREDITORS |
Amounts falling due after more than one year |
13 |
(363,823 |
) |
(521,549 |
) |
PROVISIONS FOR LIABILITIES | 16 | (465,213 | ) | (475,750 | ) |
NET ASSETS | 3,761,104 | 3,622,286 |
The Beeches Professional and Therapeutic |
Services Limited (Registered number: NI028742) |
Consolidated Balance Sheet - continued |
31 December 2021 |
31.12.21 | 31.12.20 |
Notes | £ | £ |
CAPITAL AND RESERVES |
Called up share capital | 17 | 518,764 | 519,556 |
Share premium | 18 | 44,727 | 44,727 |
Revaluation reserve | 18 | 2,157,362 | 2,166,620 |
Capital redemption reserve | 18 | 4,998 | 4,206 |
Retained earnings | 18 | 1,035,253 | 887,177 |
SHAREHOLDERS' FUNDS | 3,761,104 | 3,622,286 |
The financial statements were approved by the Board of Directors and authorised for issue on 15 June 2022 and were signed on its behalf by: |
Mr James Brian Wilson - Director |
The Beeches Professional and Therapeutic |
Services Limited (Registered number: NI028742) |
Company Balance Sheet |
31 December 2021 |
31.12.21 | 31.12.20 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 9 |
Investments | 10 |
CURRENT ASSETS |
Debtors | 11 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 12 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
13 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 16 | ( |
) | ( |
) |
NET ASSETS |
The Beeches Professional and Therapeutic |
Services Limited (Registered number: NI028742) |
Company Balance Sheet - continued |
31 December 2021 |
31.12.21 | 31.12.20 |
Notes | £ | £ |
CAPITAL AND RESERVES |
Called up share capital | 17 |
Share premium | 18 |
Revaluation reserve | 18 |
Capital redemption reserve | 18 |
Retained earnings | 18 |
SHAREHOLDERS' FUNDS |
Company's profit for the financial year | 564,816 | 290,490 |
The financial statements were approved by the Board of Directors and authorised for issue on |
The Beeches Professional and Therapeutic |
Services Limited (Registered number: NI028742) |
Consolidated Statement of Changes in Equity |
for the Year Ended 31 December 2021 |
Called up |
share | Retained | Share |
capital | earnings | premium |
£ | £ | £ |
Balance at 1 January 2020 | 520,348 | 1,007,925 | 44,727 |
Changes in equity |
Issue of share capital | (792 | ) | - | - |
Dividends | - | (378,444 | ) | - |
Total comprehensive income | - | 257,696 | - |
Balance at 31 December 2020 | 519,556 | 887,177 | 44,727 |
Changes in equity |
Issue of share capital | (792 | ) | - | - |
Dividends | - | (378,444 | ) | - |
Total comprehensive income | - | 526,520 | - |
Balance at 31 December 2021 | 518,764 | 1,035,253 | 44,727 |
Capital |
Revaluation | redemption | Total |
reserve | reserve | equity |
£ | £ | £ |
Balance at 1 January 2020 | 2,175,878 | 3,414 | 3,752,292 |
Changes in equity |
Issue of share capital | - | - | (792 | ) |
Dividends | - | - | (378,444 | ) |
Total comprehensive income | (9,258 | ) | 792 | 249,230 |
Balance at 31 December 2020 | 2,166,620 | 4,206 | 3,622,286 |
Changes in equity |
Issue of share capital | - | - | (792 | ) |
Dividends | - | - | (378,444 | ) |
Total comprehensive income | (9,258 | ) | 792 | 518,054 |
Balance at 31 December 2021 | 2,157,362 | 4,998 | 3,761,104 |
The Beeches Professional and Therapeutic |
Services Limited (Registered number: NI028742) |
Company Statement of Changes in Equity |
for the Year Ended 31 December 2021 |
Called up |
share | Retained | Share |
capital | earnings | premium |
£ | £ | £ |
Balance at 1 January 2020 |
Changes in equity |
Issue of share capital | ( |
) | - |
Dividends | - | ( |
) | - |
Total comprehensive income | - | - |
Balance at 31 December 2020 |
Changes in equity |
Issue of share capital | ( |
) | - |
Dividends | - | ( |
) | - |
Total comprehensive income | - | - |
Balance at 31 December 2021 |
Capital |
Revaluation | redemption | Total |
reserve | reserve | equity |
£ | £ | £ |
Balance at 1 January 2020 |
Changes in equity |
Issue of share capital | - | - | ( |
) |
Dividends | - | - | ( |
) |
Total comprehensive income | ( |
) |
Balance at 31 December 2020 |
Changes in equity |
Issue of share capital | - | - | ( |
) |
Dividends | - | - | ( |
) |
Total comprehensive income | ( |
) |
Balance at 31 December 2021 |
The Beeches Professional and Therapeutic |
Services Limited (Registered number: NI028742) |
Consolidated Cash Flow Statement |
for the Year Ended 31 December 2021 |
31.12.21 | 31.12.20 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 | 757,316 | 528,819 |
Interest paid | (33,596 | ) | (40,831 | ) |
Interest element of hire purchase payments paid |
(704 |
) |
(369 |
) |
Tax paid | (156,827 | ) | (148,053 | ) |
Net cash from operating activities | 566,189 | 339,566 |
Cash flows from investing activities |
Purchase of tangible fixed assets | (18,094 | ) | (24,978 | ) |
Sale of tangible fixed assets | 300 | 179,625 |
Net cash from investing activities | (17,794 | ) | 154,647 |
Cash flows from financing activities |
Loan repayments in year | (158,074 | ) | (151,155 | ) |
Capital repayments in year | 14,409 | (4,095 | ) |
Amount introduced by directors | 385,359 | 392,922 |
Amount withdrawn by directors | (398,035 | ) | (388,905 | ) |
Share issue | (792 | ) | (792 | ) |
Share buyback | (55,208 | ) | (55,208 | ) |
Government Grants | 270,546 | 384,991 |
Equity dividends paid | (378,444 | ) | (378,444 | ) |
Net cash from financing activities | (320,239 | ) | (200,686 | ) |
Increase in cash and cash equivalents | 228,156 | 293,527 |
Cash and cash equivalents at beginning of year |
2 |
(169,846 |
) |
(463,373 |
) |
Cash and cash equivalents at end of year |
2 |
58,310 |
(169,846 |
) |
The Beeches Professional and Therapeutic |
Services Limited (Registered number: NI028742) |
Notes to the Consolidated Cash Flow Statement |
for the Year Ended 31 December 2021 |
1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
31.12.21 | 31.12.20 |
£ | £ |
Profit before taxation | 731,252 | 455,720 |
Depreciation charges | 180,138 | 189,498 |
Loss on disposal of fixed assets | 3,223 | 237,236 |
Government grants | (270,546 | ) | (384,991 | ) |
Finance costs | 34,300 | 41,200 |
678,367 | 538,663 |
Decrease/(increase) in trade and other debtors | 58,453 | (108,954 | ) |
Increase in trade and other creditors | 20,496 | 99,110 |
Cash generated from operations | 757,316 | 528,819 |
2. | CASH AND CASH EQUIVALENTS |
The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts: |
Year ended 31 December 2021 |
31.12.21 | 1.1.21 |
£ | £ |
Cash and cash equivalents | 738,664 | 534,506 |
Bank overdrafts | (680,354 | ) | (704,352 | ) |
58,310 | (169,846 | ) |
Year ended 31 December 2020 |
31.12.20 | 1.1.20 |
£ | £ |
Cash and cash equivalents | 534,506 | 436,385 |
Bank overdrafts | (704,352 | ) | (899,758 | ) |
(169,846 | ) | (463,373 | ) |
The Beeches Professional and Therapeutic |
Services Limited (Registered number: NI028742) |
Notes to the Consolidated Cash Flow Statement |
for the Year Ended 31 December 2021 |
3. | ANALYSIS OF CHANGES IN NET DEBT |
At 1.1.21 | Cash flow | At 31.12.21 |
£ | £ | £ |
Net cash |
Cash at bank and in hand | 534,506 | 204,158 | 738,664 |
Bank overdrafts | (704,352 | ) | 23,998 | (680,354 | ) |
(169,846 | ) | 228,156 | 58,310 |
Debt |
Finance leases | (683 | ) | (14,409 | ) | (15,092 | ) |
Debts falling due within 1 year | (148,450 | ) | (11,825 | ) | (160,275 | ) |
Debts falling due after 1 year | (521,549 | ) | 169,899 | (351,650 | ) |
(670,682 | ) | 143,665 | (527,017 | ) |
Total | (840,528 | ) | 371,821 | (468,707 | ) |
The Beeches Professional and Therapeutic |
Services Limited (Registered number: NI028742) |
Notes to the Consolidated Financial Statements |
for the Year Ended 31 December 2021 |
1. | STATUTORY INFORMATION |
The Beeches Professional and Therapeutic Services Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods and services falling within the company's ordinary activities. |
Tangible fixed assets |
Freehold property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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. |
The Beeches Professional and Therapeutic |
Services Limited (Registered number: NI028742) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 December 2021 |
2. | ACCOUNTING POLICIES - continued |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Pension costs and other post-retirement benefits |
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
31.12.21 | 31.12.20 |
£ | £ |
Wages and salaries | 3,261,862 | 3,296,027 |
Social security costs | 238,461 | 225,788 |
Other pension costs | 59,028 | 68,557 |
3,559,351 | 3,590,372 |
The average number of employees during the year was as follows: |
31.12.21 | 31.12.20 |
Administration and support |
The average number of employees by undertakings that were proportionately consolidated during the year was 214 (2020 - 186 ) . |
31.12.21 | 31.12.20 |
£ | £ |
Directors' remuneration | 190,743 | 188,371 |
4. | OPERATING PROFIT |
The operating profit is stated after charging: |
31.12.21 | 31.12.20 |
£ | £ |
Depreciation - owned assets | 180,138 | 189,498 |
Loss on disposal of fixed assets | 3,223 | 237,236 |
Auditors' remuneration | 21,938 | 18,268 |
The Beeches Professional and Therapeutic |
Services Limited (Registered number: NI028742) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 December 2021 |
5. | INTEREST PAYABLE AND SIMILAR EXPENSES |
31.12.21 | 31.12.20 |
£ | £ |
Loan interest | 26,682 | 33,774 |
Interest payable | 6,914 | 7,057 |
Hire purchase | 704 | 369 |
34,300 | 41,200 |
6. | TAXATION |
Analysis of the tax charge |
The tax charge on the profit for the year was as follows: |
31.12.21 | 31.12.20 |
£ | £ |
Current tax: |
Tax | 168,527 | 156,812 |
Deferred tax | (10,537 | ) | (5,530 | ) |
Tax on profit | 157,990 | 151,282 |
Tax effects relating to effects of other comprehensive income |
31.12.21 |
Gross | Tax | Net |
£ | £ | £ |
Revaluation of property |
Capital redemption reserve | (55,208 | ) | - | (55,208 | ) |
(55,208 | ) | - | (55,208 | ) |
31.12.20 |
Gross | Tax | Net |
£ | £ | £ |
Revaluation of property |
Capital redemption reserve | (55,208 | ) | - | (55,208 | ) |
(55,208 | ) | - | (55,208 | ) |
7. | INDIVIDUAL INCOME STATEMENT |
As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements. |
The Beeches Professional and Therapeutic |
Services Limited (Registered number: NI028742) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 December 2021 |
8. | DIVIDENDS |
31.12.21 | 31.12.20 |
£ | £ |
Ordinary A shares of £1 each |
Interim | 92,252 | 92,252 |
Ordinary B shares of £1 each |
Interim | 92,252 | 92,252 |
Ordinary C shares of £1 each |
Interim | 62,096 | 62,096 |
Ordinary E shares of £1 each |
Interim | 65,922 | 65,922 |
Ordinary F shares of £1 each |
Interim | 65,922 | 65,922 |
378,444 | 378,444 |
9. | TANGIBLE FIXED ASSETS |
Group |
Fixtures |
Freehold | Plant and | and |
property | machinery | fittings |
£ | £ | £ |
COST OR VALUATION |
At 1 January 2021 | 6,039,273 | 105,934 | 2,096,310 |
Additions | - | - | - |
Disposals | - | - | - |
At 31 December 2021 | 6,039,273 | 105,934 | 2,096,310 |
DEPRECIATION |
At 1 January 2021 | 755,072 | 87,661 | 1,703,400 |
Charge for year | 111,225 | 4,568 | 58,940 |
Eliminated on disposal | - | - | - |
At 31 December 2021 | 866,297 | 92,229 | 1,762,340 |
NET BOOK VALUE |
At 31 December 2021 | 5,172,976 | 13,705 | 333,970 |
At 31 December 2020 | 5,284,201 | 18,273 | 392,910 |
The Beeches Professional and Therapeutic |
Services Limited (Registered number: NI028742) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 December 2021 |
9. | TANGIBLE FIXED ASSETS - continued |
Group |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 January 2021 | 39,594 | 111,436 | 8,392,547 |
Additions | 18,094 | - | 18,094 |
Disposals | (19,795 | ) | - | (19,795 | ) |
At 31 December 2021 | 37,893 | 111,436 | 8,390,846 |
DEPRECIATION |
At 1 January 2021 | 32,547 | 111,436 | 2,690,116 |
Charge for year | 5,405 | - | 180,138 |
Eliminated on disposal | (16,272 | ) | - | (16,272 | ) |
At 31 December 2021 | 21,680 | 111,436 | 2,853,982 |
NET BOOK VALUE |
At 31 December 2021 | 16,213 | - | 5,536,864 |
At 31 December 2020 | 7,047 | - | 5,702,431 |
Cost or valuation at 31 December 2021 is represented by: |
Fixtures |
Freehold | Plant and | and |
property | machinery | fittings |
£ | £ | £ |
Valuation in 2017 | (153,079 | ) | - | - |
Valuation in 2015 | 1,301,811 | - | - |
Cost | 4,890,541 | 105,934 | 2,096,310 |
6,039,273 | 105,934 | 2,096,310 |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
Valuation in 2017 | - | - | (153,079 | ) |
Valuation in 2015 | - | - | 1,301,811 |
Cost | 37,893 | 111,436 | 7,242,114 |
37,893 | 111,436 | 8,390,846 |
The Beeches Professional and Therapeutic |
Services Limited (Registered number: NI028742) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 December 2021 |
9. | TANGIBLE FIXED ASSETS - continued |
Company |
Fixtures |
Freehold | Plant and | and |
property | machinery | fittings |
£ | £ | £ |
COST OR VALUATION |
At 1 January 2021 |
Additions |
Disposals |
At 31 December 2021 |
DEPRECIATION |
At 1 January 2021 |
Charge for year |
Eliminated on disposal |
At 31 December 2021 |
NET BOOK VALUE |
At 31 December 2021 |
At 31 December 2020 |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 January 2021 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 December 2021 |
DEPRECIATION |
At 1 January 2021 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 December 2021 |
NET BOOK VALUE |
At 31 December 2021 |
At 31 December 2020 |
The Beeches Professional and Therapeutic |
Services Limited (Registered number: NI028742) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 December 2021 |
9. | TANGIBLE FIXED ASSETS - continued |
Company |
Cost or valuation at 31 December 2021 is represented by: |
Fixtures |
Freehold | Plant and | and |
property | machinery | fittings |
£ | £ | £ |
Valuation in 2015 | 1,301,811 | - | - |
Cost | 4,497,462 | 105,934 | 2,000,996 |
5,799,273 | 105,934 | 2,000,996 |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
Valuation in 2015 | - | - | 1,301,811 |
Cost | 37,893 | 111,436 | 6,753,721 |
37,893 | 111,436 | 8,055,532 |
10. | FIXED ASSET INVESTMENTS |
Company |
Unlisted |
investments |
£ |
COST OR VALUATION |
At 1 January 2021 |
and 31 December 2021 |
NET BOOK VALUE |
At 31 December 2021 |
At 31 December 2020 |
The Beeches Professional and Therapeutic |
Services Limited (Registered number: NI028742) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 December 2021 |
10. | FIXED ASSET INVESTMENTS - continued |
Company |
Cost or valuation at 31 December 2021 is represented by: |
Shares in |
group | Unlisted |
undertakings | investments | Totals |
£ | £ | £ |
Valuation in 2017 | (100 | ) | (147,639 | ) | (147,739 | ) |
Cost | 100 | 290,372 | 290,472 |
- | 142,733 | 142,733 |
The group or the company's investments at the Balance Sheet date in the share capital of companies include the following: |
Subsidiaries |
Registered office: 49 Station Road, Polegate, East Sussex BN26 6EA |
Nature of business: |
% |
Class of shares: | holding |
31.12.21 | 31.12.20 |
£ | £ |
Aggregate capital and reserves |
Profit for the year |
The Beeches Property Limited is exempt from the requirements of the Companies Act 2006 relating to the audit of the accounts under section 479A of the Companies Act 2006. |
Registered office: 41 Lisburn Road, Ballynahinch,Co Down, BT24 8TT |
Nature of business: |
% |
Class of shares: | holding |
31.12.21 | 31.12.20 |
£ | £ |
Aggregate capital and reserves | ( |
) | ( |
) |
(Loss)/profit for the year | ( |
) |
The Beeches Catering Services Limited is exempt from the requirements of the Companies Act 2006 relating to the audit of the accounts under section 479A of the Companies Act 2006. |
The Beeches Professional and Therapeutic |
Services Limited (Registered number: NI028742) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 December 2021 |
10. | FIXED ASSET INVESTMENTS - continued |
11. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Group | Company |
31.12.21 | 31.12.20 | 31.12.21 | 31.12.20 |
£ | £ | £ | £ |
Trade debtors | 123,798 | 83,793 |
Amounts owed by group undertakings | - | - |
Other debtors | 365,545 | 469,149 |
VAT | 1,318 | 2,050 |
Prepayments and accrued income | 27,013 | 21,135 |
517,674 | 576,127 |
12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Group | Company |
31.12.21 | 31.12.20 | 31.12.21 | 31.12.20 |
£ | £ | £ | £ |
Bank loans and overdrafts (see note 14) | 840,629 | 852,802 |
Hire purchase contracts (see note 15) | 2,919 | 683 |
Trade creditors | 100,227 | 102,085 |
Tax | 168,527 | 156,827 |
Other creditors | 579,609 | 549,010 |
Other creditors | 42,111 | 39,591 | 42,111 | 39,591 |
Credit card | - | (21 | ) | - | (21 | ) |
Directors' current accounts | 256,691 | 269,367 | 227,563 | 240,239 |
Accrued expenses | 212,349 | 223,135 |
2,203,062 | 2,193,479 |
13. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
Group | Company |
31.12.21 | 31.12.20 | 31.12.21 | 31.12.20 |
£ | £ | £ | £ |
Bank loans (see note 14) | 351,650 | 521,549 |
Hire purchase contracts (see note 15) | 12,173 | - |
363,823 | 521,549 |
The Beeches Professional and Therapeutic |
Services Limited (Registered number: NI028742) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 December 2021 |
14. | LOANS |
An analysis of the maturity of loans is given below: |
Group | Company |
31.12.21 | 31.12.20 | 31.12.21 | 31.12.20 |
£ | £ | £ | £ |
Amounts falling due within one year or | on demand: |
Bank overdrafts | 680,354 | 704,352 |
Bank loans | 160,275 | 148,450 |
840,629 | 852,802 |
Amounts falling due between two and | five years: |
Bank loans - 2-5 years | 351,650 | 521,549 |
15. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Group |
Hire purchase contracts |
31.12.21 | 31.12.20 |
£ | £ |
Net obligations repayable: |
Within one year | 2,919 | 683 |
Between one and five years | 12,173 | - |
15,092 | 683 |
Company |
Hire purchase contracts |
31.12.21 | 31.12.20 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
The Beeches Professional and Therapeutic |
Services Limited (Registered number: NI028742) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 December 2021 |
16. | PROVISIONS FOR LIABILITIES |
Group | Company |
31.12.21 | 31.12.20 | 31.12.21 | 31.12.20 |
£ | £ | £ | £ |
Deferred tax |
Accelerated capital allowances | 36,745 | 45,110 |
Other timing differences | 428,468 | 430,640 | 428,468 | 430,640 |
465,213 | 475,750 | 460,278 | 469,944 |
Group |
Deferred |
tax |
£ |
Balance at 1 January 2021 | 475,750 |
Accelerated capital allowance | (8,365 | ) |
Other timing differences | (2,172 | ) |
Balance at 31 December 2021 | 465,213 |
Company |
Deferred |
tax |
£ |
Balance at 1 January 2021 |
Provided during year | ( |
) |
Balance at 31 December 2021 |
Recognised deferred tax assets, as indicated by balances shown within brackets above, are included in Other debtors. |
The Beeches Professional and Therapeutic |
Services Limited (Registered number: NI028742) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 December 2021 |
17. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.21 | 31.12.20 |
value: | £ | £ |
Ordinary A | £1 | 20,000 | 20,000 |
Ordinary B | £1 | 20,000 | 20,000 |
Ordinary C | £1 | 20,000 | 20,000 |
Ordinary D | £1 | 264 | 1,056 |
Ordinary E | £1 | 5,000 | 5,000 |
3,500 | Ordinary F | £1 | 3,500 | 3,500 |
450,000 | Preference Shares | £1 | 450,000 | 450,000 |
518,764 | 519,556 |
18. | RESERVES |
Group |
Capital |
Retained | Share | Revaluation | redemption |
earnings | premium | reserve | reserve | Totals |
£ | £ | £ | £ | £ |
At 1 January 2021 | 887,177 | 44,727 | 2,166,620 | 4,206 | 3,102,730 |
Profit for the year | 573,262 | 573,262 |
Dividends | (378,444 | ) | (378,444 | ) |
Purchase of own shares | (56,000 | ) | - | - | 792 | (55,208 | ) |
Revaluation of property | 9,258 | - | (9,258 | ) | - | - |
At 31 December 2021 | 1,035,253 | 44,727 | 2,157,362 | 4,998 | 3,242,340 |
Company |
Capital |
Retained | Share | Revaluation | redemption |
earnings | premium | reserve | reserve | Totals |
£ | £ | £ | £ | £ |
At 1 January 2021 | 3,133,771 |
Profit for the year |
Dividends | ( |
) | ( |
) |
Purchase of own shares | (56,000 | ) | - | - | 792 | (55,208 | ) |
Revaluation of property | 9,258 | - | (9,258 | ) | - | - |
At 31 December 2021 | 3,264,935 |
The Beeches Professional and Therapeutic |
Services Limited (Registered number: NI028742) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 December 2021 |
19. | RELATED PARTY DISCLOSURES |
The following related party transactions existed during the year: |
Management Charges & Rent Paid to The Beeches Professional & Therapeutic Services Ltd |
Purchases Paid by The Beeches Professional & Therapeutic Services Ltd |
Trade Balances Due to The Beeches Professional & Therapeutic Services Ltd |
Loan Balances Due to The Beeches Profession al & Therapeuti c Services Ltd |
Transactions with other Related Parties |
£43,738 |
Nil |
£13,838 |
£296,659 |
Management charges and rent charged to related parties were undertaken in the normal course of business at commercial rates. |
No interest was charged on loans to other group companies or other related parties. |
During the year the Company purchased 792 of its own ordinary £1 shares from Mrs Diane Tregaskis-Sloan. This represented 1% of the ordinary share capital. The total sum paid was £56,000 including stamp duty and the £792 nominal value was transferred to a capital redemption reserve. |
The purchase was made out of distributable reserves under the authority of a Statutory Declaration signed by the Directors. |