The Beeches Professional and Therapeutic Services Limited - Period Ending 2014-12-31

Registration number: NI028742

The Beeches Professional and Therapeutic Services Limited
 
  Annual Report and Consolidated Financial Statements
 
  for the Year Ended 31 December 2014
 

J R McKee & Co
  Chartered Accountants & Registered Auditor
  Ratheane House
  32 Hillsborough Road
  Lisburn
  Co Antrim
  BT28 1AQ

The Beeches Professional and Therapeutic Services Limited
Company Information

Directors

Mrs Diane Tregaskis Sloan Mr James Brian Wilson Mr James Patrick Francis Wilson Mr Jonathan Wilson Mr Jeffrey Wilson Mrs Aileen Wilson Mrs Joan Clare Wilson Mrs Frances Wilson

Company secretary

Mrs Diane Tregaskis Sloan

Registered office

9/11 Lurgan Road Aghalee Co Armagh BT67 0DD

Solicitors

Mills Selig 21 Arthur Street Belfast BT1 4GA

Bankers

Danske Bank Portadown 45-48 High Street Portadown Craigavon Co Armagh BT62 1LB

Auditors

J R McKee & Co Chartered Accountants & Registered Auditor Ratheane House 32 Hillsborough Road Lisburn Co Antrim BT28 1AQ

Page 1

The Beeches Professional and Therapeutic Services Limited
Directors' Report for the Year Ended 31 December 2014

The directors present their report and the consolidated financial statements for the year ended 31 December 2014.

Directors of the company

The directors who held office during the year were as follows:

Mrs Diane Tregaskis Sloan

Mr James Brian Wilson

Mr James Patrick Francis Wilson

Mr Jonathan Wilson

Mr Jeffrey Wilson

Mrs Aileen Wilson

Mrs Joan Clare Wilson

Mrs Frances Wilson (appointed 27 May 2014)

Financial instruments

Price risk, credit risk, liquidity risk and cash flow risk

The business’ activities expose it primary to the financial risks of changes in foreign currency exchange rates.

The business’ principal financial instruments comprise bank balances, bank overdrafts, trade debtors, trade creditors, loans to the business and finance lease agreements. The main purpose of these instruments is to finance the business’ operations.

In respect of bank balances, the liquidity risk is managed by maintaining a balance between the continuity of funding and flexibility through the use of overdrafts at floating rates of interest. All of the business makes use of money market facilities where funds are available.

Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits. The amounts presented in the balance sheet are net of allowances for doubtful debtors.

Trade creditors’ liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.
Loans comprise loans from the directors. The business manages the liquidity risk by ensuring that there are sufficient funds to meet the payments.

The business is a lessee in respect of finance leased assets. The liquidity risk in respect of these is managed by ensuring that there are sufficient funds to meet the payments.

Page 2

The Beeches Professional and Therapeutic Services Limited
Directors' Report for the Year Ended 31 December 2014
......... continued

Disclosure of information to the auditor

Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the group's auditor is aware of that information. The directors confirm that there is no relevant information that they know of and which they know the auditor is unaware of.

Approved by the Board on 23 July 2015 and signed on its behalf by:

Mr James Brian Wilson
Director

Mr James Patrick Francis Wilson
Director

Page 3

The Beeches Professional and Therapeutic Services Limited
Statement of Directors' Responsibilities

The directors are responsible for preparing the Annual Report 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

group and the

company 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 apply them consistently;
•
make judgements and accounting estimates that are reasonable and prudent
;
•
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
•
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

group's and the

company's transactions and disclose with reasonable accuracy at any time the financial position of the

group and the

company 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

group and the

company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 4

Independent Auditor's Report to the Members of
The Beeches Professional and Therapeutic Services Limited

We have audited the financial statements of The Beeches Professional and Therapeutic Services Limited for the year ended 31 December 2014, set out on pages 7 to 23. 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).

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 auditor’s 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 auditor

As explained more fully in the Statement of Directors' Responsibilities (set out on page 4), the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. Our responsibility is to audit and express an opinion on the financial statements 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.

Scope of the audit of the financial statements

An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or error. This includes an assessment of: whether the accounting policies are appropriate to the group's and parent company’s circumstances and have been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates made by the directors; and the overall presentation of the financial statements. In addition, we read all the financial and non-financial information in the Annual Reportand Consolidated Financial Statements to identify material inconsistencies with the audited financial statements and to identify any information that is apparently materially incorrect based on, or materially inconsistent with, the knowledge acquired by us in the course of performing the audit. If we become aware of any apparent material misstatements or inconsistencies we consider the implications for our report.

Opinion on financial statements

In our opinion the financial statements:
•
give a true and fair view of the state of the group's and of the parent company's affairs as at

31 December 2014

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.

Opinion on other matter prescribed by the Companies Act 2006

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

Page 5

Independent Auditor's Report to the Members of
The Beeches Professional and Therapeutic Services Limited
 
 ......... continued

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 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.

......................................
J R McKee FCA (Senior Statutory Auditor)
For and on behalf of J R McKee & Co, Statutory Auditor

Ratheane House
32 Hillsborough Road
Lisburn
Co Antrim
BT28 1AQ

23 July 2015

Page 6

The Beeches Professional and Therapeutic Services Limited
Consolidated Profit and Loss Account for the Year Ended 31 December 2014

		Note			2014 £			2013 £
Turnover					4,307,960			4,148,859
Cost of sales					(19,475)			-
Gross profit					4,288,485			4,148,859
Administrative expenses					(3,881,083)			(3,906,779)
Group operating profit		2			407,402			242,080
Other interest receivable and similar income		6			6			17
Interest payable and similar charges		7			(9,203)			(8,852)
Profit on ordinary activities before taxation					398,205			233,245
Tax on profit on ordinary activities		8			(97,019)			(74,878)
Profit for the financial year attributable to members of the parent company		18			301,186			158,367

Turnover and operating profit derive wholly from continuing operations.

The group has no recognised gains or losses for the year other than the results above.

The notes on pages 12 to 23 form an integral part of these financial statements.
Page 7

The Beeches Professional and Therapeutic Services Limited
Consolidated Balance Sheet at 31 December 2014

		Note			2014						2013
	£			£			£			£
Fixed assets
Tangible fixed assets		9						3,402,265						3,045,075
Current assets
Stocks		11			431						-
Debtors		12			637,970						383,747
Cash at bank and in hand					225,608						227,553
					864,009						611,300
Creditors: Amounts falling due within one year		13			(1,528,670)						(1,177,786)
Net current liabilities								(664,661)						(566,486)
Total assets less current liabilities								2,737,604						2,478,589
Creditors: Amounts falling due after more than one year		14						(265,053)						(262,985)
Provisions for liabilities		15						(35,214)						(5,690)
Net assets								2,437,337						2,209,914
Capital and reserves
Called up share capital		16			524,942						524,942
Capital redemption reserve		18			44,727						44,727
Profit and loss account		18			1,867,668						1,640,245
Shareholders' funds		19						2,437,337						2,209,914

Approved and authorised for issue by the Board on 23 July 2015 and signed on its behalf by:

Mr James Brian Wilson
Director

Mr James Patrick Francis Wilson
Director

The notes on pages 12 to 23 form an integral part of these financial statements.
Page 8

The Beeches Professional and Therapeutic Services Limited
(Registration number: NI028742)
Balance Sheet at 31 December 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets		9			2,972,842			2,694,666
Investments		10			290,472			290,472
					3,263,314			2,985,138
Current assets
Debtors		12			680,130			461,727
Cash at bank and in hand					221,101			212,724
					901,231			674,451
Creditors: Amounts falling due within one year		13			(1,435,985)			(1,127,323)
Net current liabilities					(534,754)			(452,872)
Total assets less current liabilities					2,728,560			2,532,266
Creditors: Amounts falling due after more than one year		14			(187,072)			(262,985)
Provisions for liabilities		15			(19,011)			(5,690)
Net assets					2,522,477			2,263,591
Capital and reserves
Called up share capital		16			523,762			523,762
Capital redemption reserve		18			44,727			44,727
Profit and loss account		18			1,953,988			1,695,102
Shareholders' funds		19			2,522,477			2,263,591

Approved and authorised for issue by the Board on 23 July 2015 and signed on its behalf by:

Mr James Brian Wilson
Director

Mr James Patrick Francis Wilson
Director

The notes on pages 12 to 23 form an integral part of these financial statements.
Page 9

The Beeches Professional and Therapeutic Services Limited
Consolidated Cash Flow Statement for the Year Ended 31 December 2014

Reconciliation of operating profit to net cash flow from operating activities

		2014 £			2013 £
Operating profit		407,402			242,080
Depreciation, amortisation and impairment charges		129,655			92,547
Loss on disposal of fixed assets		383			2,768
Increase in stocks		(431)			-
Increase in debtors		(233,150)			(177,072)
Increase/(decrease) in creditors		130,642			(147,506)
Net cash inflow from operating activities		434,501			12,817

Cash flow statement

		2014 £			2013 £
Net cash inflow from operating activities		434,501			12,817
Returns on investments and servicing of finance
Interest received		6			17
Interest paid		(9,203)			(8,852)
		(9,197)			(8,835)
Tax paid		(72,639)			(83,966)
Capital expenditure and financial investment
Purchase of tangible fixed assets		(487,228)			(171,975)
Sale of tangible fixed assets		-			8,004
		(487,228)			(163,971)
Equity dividends paid		(73,763)			(173,761)
Net cash outflow before management of liquid resources and financing		(208,326)			(417,716)
Financing
Repayment of loans and borrowings		(47,980)			315,000
Repayment of capital element of finance leases and HP contracts		(19,494)			(28,420)
		(67,474)			286,580
Decrease in cash		(275,800)			(131,136)

The notes on pages 12 to 23 form an integral part of these financial statements.
Page 10

The Beeches Professional and Therapeutic Services Limited
Consolidated Cash Flow Statement for the Year Ended 31 December 2014......... continued

Reconciliation of net cash flow to movement in net debt

		Note			2014 £			2013 £
Decrease in cash					(275,800)			(131,136)
Cash outflow from repayment of loans					47,980			(315,000)
Cash outflow from repayment of capital element of finance leases and hire purchase contracts					19,494			28,420
Change in net debt resulting from cash flows		21			(208,326)			(417,716)
Movement in net debt		21			(208,326)			(417,716)
Net debt at 1 January		21			(529,215)			(111,499)
Net debt at 31 December		21			(737,541)			(529,215)

The notes on pages 12 to 23 form an integral part of these financial statements.
Page 11

The Beeches Professional and Therapeutic Services Limited
Notes to the Financial Statements for the Year Ended 31 December 2014
......... continued

1	Accounting policies

Basis of preparation

The financial statements have been prepared under the historical cost convention and in accordance with applicable accounting standards.

Basis of consolidation

The group financial statements consolidate the financial statements of the company and its subsidiary undertakings drawn up to 31 December 2014. Subsidiary undertakings are included using the acquisitions method of accounting. Under this method the group profit and loss account and statement of cashflows include the results and cashflows of subsidiaries from the date of acquisition and to the date of sale outside the group in the case of disposals of subsidiaries. The purchase consideration has been allocated to the assets and liabilities on the basis of fair value at the date of acquisition.

No profit and loss account is presented for the company as permitted by Section 408 of the Companies Act 2006. Its profit for the financial year was £332,649 (2013 - £157,652).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Land and buildings	2% reducing balance
Plant and machinery	25% reducing balance
Fixtures and fittings	25% reducing balance
Motor vehicles	25% reducing balance
Office equipment	25% straight line

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by FRS19. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Page 12

The Beeches Professional and Therapeutic Services Limited
Notes to the Financial Statements for the Year Ended 31 December 2014
......... continued

Foreign currency

CompanyTransactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

 

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the group, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the group is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The group operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Operating profit

Operating profit is stated after charging:

		2014 £			2013 £
Operating leases - other assets		7,632			7,312
Foreign currency losses/(gains)		303			(117)
Loss on sale of tangible fixed assets		383			2,768
Depreciation of owned assets		129,655			92,547
Hire purchase interest		4,847			5,005
Auditor's remuneration		18,164			14,538

Page 13

The Beeches Professional and Therapeutic Services Limited
Notes to the Financial Statements for the Year Ended 31 December 2014
......... continued

3	Auditor's remuneration

		2014 £			2013 £
Audit of the financial statements		18,164			14,538

£18,164 (2013 - £14,538) of the fee for auditing the financial statements relates to the company.

 

4	Particulars of employees

The average number of persons employed by the group (including directors) during the year, analysed by category was as follows:

		2014 No.			2013 No.
Administration and support		182			181
Sales		9			-
		191			181

The aggregate payroll costs were as follows:

		2014 £			2013 £
Wages and salaries		2,588,062			2,588,334
Social security costs		196,862			202,252
Staff pensions		64,995			70,415
		2,849,919			2,861,001

5	Directors' remuneration

The directors' remuneration for the year was as follows:

		2014 £			2013 £
Remuneration		391,707			399,622
Company contributions paid to money purchase schemes		50,725			65,515

Page 14

The Beeches Professional and Therapeutic Services Limited
Notes to the Financial Statements for the Year Ended 31 December 2014
......... continued

6	Other interest receivable and similar income

		2014 £			2013 £
Bank interest receivable		6			14
Other interest receivable		-			3
Group interest receivable		6			17

7	Interest payable and similar charges

		2014 £			2013 £
Interest on other loans		4,539			2,269
Other interest payable		4,664			6,583
Group interest payable and similar charges		9,203			8,852

8

Taxation

Tax on profit on ordinary activities

		2014 £			2013 £
Current tax
Corporation tax charge		88,568			72,639
Group relief receivable		(21,073)			-
UK Corporation tax		67,495			72,639
Deferred tax
Origination and reversal of timing differences		29,524			2,239
Total tax on profit on ordinary activities		97,019			74,878

Page 15

The Beeches Professional and Therapeutic Services Limited
Notes to the Financial Statements for the Year Ended 31 December 2014
......... continued

9	Tangible fixed assets

Group

		Freehold land and buildings £			Plant and machinery £			Fixtures and fittings £			Motor vehicles £			Office equipment £			Total £
Cost or valuation
At 1 January 2014		3,891,303			6,440			1,285,622			99,831			77,784			5,360,980
Additions		275,470			26,145			156,348			-			29,265			487,228
Disposals		-			-			-			-			(1,583)			(1,583)
At 31 December 2014		4,166,773			32,585			1,441,970			99,831			105,466			5,846,625
Depreciation
At 1 January 2014		950,185			6,291			1,230,688			54,692			74,049			2,315,905
Charge for the year		59,324			6,574			43,294			11,285			9,178			129,655
Eliminated on disposals		-			-			-			-			(1,200)			(1,200)
At 31 December 2014		1,009,509			12,865			1,273,982			65,977			82,027			2,444,360
Net book value
At 31 December 2014		3,157,264			19,720			167,988			33,854			23,439			3,402,265
At 31 December 2013		2,941,118			149			54,934			45,139			3,735			3,045,075

Page 16

The Beeches Professional and Therapeutic Services Limited
Notes to the Financial Statements for the Year Ended 31 December 2014
......... continued

Company

		Freehold land and buildings £			Plant and machinery £			Fixtures and fittings £			Motor vehicles £			Office equipment £			Total £
Cost or valuation
At 1 January 2014		3,498,224			6,440			1,285,622			99,831			76,964			4,967,081
Additions		275,470			26,145			61,034			-			29,265			391,914
Disposals		-			-			-			-			(763)			(763)
At 31 December 2014		3,773,694			32,585			1,346,656			99,831			105,466			5,358,232
Depreciation
At 1 January 2014		907,515			6,291			1,230,688			54,692			73,229			2,272,415
Charge for the year		57,324			6,574			28,994			11,285			9,178			113,355
Eliminated on disposals		-			-			-			-			(380)			(380)
At 31 December 2014		964,839			12,865			1,259,682			65,977			82,027			2,385,390
Net book value
At 31 December 2014		2,808,855			19,720			86,974			33,854			23,439			2,972,842
At 31 December 2013		2,590,709			149			54,934			45,139			3,735			2,694,666

Page 17

The Beeches Professional and Therapeutic Services Limited
Notes to the Financial Statements for the Year Ended 31 December 2014
......... continued

10	Investments held as fixed assets

Group

Company

		2014 £			2013 £
Shares in group undertakings and participating interests		290,472			290,472

Shares in group undertakings and participating interests

		Subsidiary undertakings £			Total £
Cost
At 1 January 2014		290,472			290,472
At 31 December 2014		290,472			290,472
Net book value
At 31 December 2014		290,472			290,472
At 31 December 2013		290,472			290,472

11

Stocks

Group

Company

		2014 £			2013 £			2014 £			2013 £
Stocks		431			-			-			-

Page 18

The Beeches Professional and Therapeutic Services Limited
Notes to the Financial Statements for the Year Ended 31 December 2014
......... continued

12

Debtors

Group

Company

		2014 £			2013 £			2014 £			2013 £
Trade debtors		156,179			82,520			156,179			82,520
Amounts owed by group undertakings		133,250			2,000			177,980			79,980
Other debtors		319,838			273,883			319,838			273,883
Prepayments and accrued income		28,703			25,344			26,133			25,344
		637,970			383,747			680,130			461,727

Group debtors includes £250,000 (2013 - £250,000) receivable after more than one year and parent company debtors includes £294,729 (2013 - £250,000) receivable after more than one year.

This can be analysed as follows:

Group

Company

		2014 £			2013 £			2014 £			2013 £
Amounts owed by group undertakings		-			-			44,729			-
Other debtors		250,000			250,000			250,000			250,000
		250,000			250,000			294,729			250,000

13	Creditors: Amounts falling due within one year

Group

Company

		2014 £			2013 £			2014 £			2013 £
Trade creditors		50,309			66,845			49,275			66,845
Bank loans and overdrafts		678,143			404,288			704,249			408,042
Other loans		83,769			70,000			83,769			70,000
Obligations under finance lease and hire purchase contracts		14,165			19,495			14,165			19,495
Amounts owed to group undertakings		55,269			-			-			-
Corporation tax		88,568			72,639			87,899			71,793
Other taxes and social security		6,562			-			50			-
Other creditors		259,236			259,972			243,786			259,972
Directors' current accounts		189,940			177,804			151,976			124,853
Accruals and deferred income		102,709			106,743			100,816			106,323
		1,528,670			1,177,786			1,435,985			1,127,323

Page 19

The Beeches Professional and Therapeutic Services Limited
Notes to the Financial Statements for the Year Ended 31 December 2014
......... continued

14	Creditors: Amounts falling due after more than one year

Group

Company

		2014 £			2013 £			2014 £			2013 £
Other loans		183,251			245,000			183,251			245,000
Obligations under finance lease and hire purchase contracts		3,821			17,985			3,821			17,985
Amounts owed to group undertakings		77,981			-			-			-
		265,053			262,985			187,072			262,985

Obligations under finance leases and HP contracts Amounts repayable:

Group

Company

		2014 £			2013 £			2014 £			2013 £
In one year or less on demand		14,165			19,495			14,165			19,495
Between two and five years		3,821			17,985			3,821			17,985
		17,986			37,480			17,986			37,480

15	Provisions

Group

		Deferred tax £			Total £
At 1 January 2014		5,690			5,690
Charged to the profit and loss account		29,524			29,524
At 31 December 2014		35,214			35,214

Analysis of deferred tax

		2014 £			2013 £
		19,011			5,690

Page 20

The Beeches Professional and Therapeutic Services Limited
Notes to the Financial Statements for the Year Ended 31 December 2014
......... continued

Company

		Deferred tax £			Total £
At 1 January 2014		5,690			5,690
Charged to the profit and loss account		13,321			13,321
At 31 December 2014		19,011			19,011

Analysis of deferred tax

		2014 £			2013 £
Difference between accumulated depreciation and ammortisation and capital allowances		19,011			5,690

16	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		73,762			73,762			73,762			73,762
Preference shares of £1 each		450,000			450,000			450,000			450,000
		523,762			523,762			523,762			523,762

17

Dividends

		2014 £			2013 £
Dividends paid
Prior year final dividend paid		73,763			173,761

Recommended final dividend proposed for approval by shareholders		-			-

Page 21

The Beeches Professional and Therapeutic Services Limited
Notes to the Financial Statements for the Year Ended 31 December 2014
......... continued

18

Reserves

Group

		Capital redemption reserve £			Profit and loss account £			Total £
At 1 January 2014		44,727			1,640,245			1,684,972
Profit for the year		-			301,186			301,186
Dividends		-			(73,763)			(73,763)
At 31 December 2014		44,727			1,867,668			1,912,395

Company

		Capital redemption reserve £			Profit and loss account £			Total £
At 1 January 2014		44,727			1,695,102			1,739,829
Profit for the year		-			332,649			332,649
Dividends		-			(73,763)			(73,763)
At 31 December 2014		44,727			1,953,988			1,998,715

19	Reconciliation of movement in shareholders' funds

Group

		2014 £			2013 £
Profit attributable to the members of the group		301,186			158,367
Other recognised gains and losses relating to the year		-			(161,878)
Dividends		(73,763)			(173,761)
Net addition/(reduction) to shareholders' funds		227,423			(177,272)
Shareholders' funds at 1 January		2,209,914			2,387,186
Shareholders' funds at 31 December		2,437,337			2,209,914

Page 22

The Beeches Professional and Therapeutic Services Limited
Notes to the Financial Statements for the Year Ended 31 December 2014
......... continued

Company

		2014 £			2013 £
Profit attributable to the members of the company		332,649			157,652
Other recognised gains and losses relating to the year		-			(161,878)
Dividends		(73,763)			(173,761)
Net addition/(reduction) to shareholders' funds		258,886			(177,987)
Shareholders' funds at 1 January		2,263,591			2,441,578
Shareholders' funds at 31 December		2,522,477			2,263,591

20	Pension schemes

Defined contribution pension scheme

The group operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the group to the scheme and amounted to £64,995 (2013 - £70,415).

21	Analysis of net debt

	At 1 January 2014 £	Cash flow £	At 31 December 2014 £
Cash at bank and in hand	227,553	(1,945)	225,608
Bank overdraft	(404,288)	(273,855)	(678,143)
	(176,735)	(275,800)	(452,535)
Debt due within one year	(70,000)	(13,769)	(83,769)
Debt due after more than one year	(245,000)	61,749	(183,251)
Finance leases and hire purchase contracts	(37,480)	19,494	(17,986)
Net debt	(529,215)	(208,326)	(737,541)

22

Control

The company is controlled by the directors who own 100% of the called up share capital.

Page 23

The Beeches Professional and Therapeutic Services Limited
Detailed Consolidated Profit and Loss Account for the Year Ended 31 December 2014

		2014						2013
	£			£			£			£
Turnover
Sales, UK					4,158,156						4,001,332
Donations					770						120
Rent received					3,900						60,414
Other income					76,253						-
Management charges receivable					68,881						86,993
					4,307,960						4,148,859
Cost of sales
Purchases		18,558						-
Closing stock		(431)						-
Packaging material		1,192						-
Freight and carriage		102						-
Consumable tools		54						-
					(19,475)						-
Gross profit					4,288,485						4,148,859
Administrative expenses
Employment costs		(2,877,685)						(2,889,466)
Establishment costs		(331,111)						(333,267)
General administrative expenses		(522,946)						(573,229)
Finance charges		(19,303)						(15,502)
Depreciation costs		(130,038)						(95,315)
					(3,881,083)						(3,906,779)
Group operating profit					407,402						242,080
Other interest receivable and similar income
Bank interest receivable		6						14
Other interest receivable		-						3
					6						17
Interest payable and similar charges					(9,203)						(8,852)
Profit on ordinary activities before taxation					398,205						233,245

This page does not form part of the statutory financial statements
Page 24

The Beeches Professional and Therapeutic Services Limited
Detailed Consolidated Profit and Loss Account for the Year Ended 31 December 2014

		2014 £			2013 £
Employment costs
Wages and salaries		2,196,355			2,188,712
Staff NIC (Employers)		142,193			146,584
Directors remuneration		391,707			399,622
Directors NIC (Employers)		54,669			55,668
Staff pensions		14,270			4,900
Directors' pensions		50,725			65,515
Private health insurance		22,118			18,804
Staff training		5,648			9,661
		2,877,685			2,889,466

		2014 £			2013 £
Establishment costs
Rent and rates		42,420			22,683
Water rates		4,529			3,436
Light, heat and power		125,985			130,296
Insurance		25,092			24,180
Maintenance contracts		21,723			17,836
Repairs and renewals		111,362			134,836
		331,111			333,267

This page does not form part of the statutory financial statements
Page 25

The Beeches Professional and Therapeutic Services Limited
Detailed Consolidated Profit and Loss Account for the Year Ended 31 December 2014......... continued

		2014 £			2013 £
General administrative expenses
Telephone and fax		18,120			14,315
Food		194,645			192,373
Kitchen consumables		2,319			4,130
Office expenses		59,832			61,184
Laundry consumables		53			2,177
Printing, postage and stationery		30,982			21,364
Computer software		1,330			8,117
Toys		1,581			1,270
Registration fees		4,036			5,373
Medical fees		17,398			45,967
Trade subscriptions		7,817			8,334
Hire of other assets		320			-
Lease of office equipment		4,648			4,839
Lease of motor vehicles		7,312			7,312
Rental of telephone of multi media facilities		738			761
Sundry expenses		4,993			5,245
Cleaning		57,104			56,692
Uniforms		1,761			461
Accountancy fees		1,680			240
Auditor's remuneration - The audit of the company's annual accounts		18,164			14,538
Management fees		22,134			31,546
Legal and professional fees		28,667			50,014
Motor expenses		29,624			29,538
Travel and subsistence		7,688			7,439
		522,946			573,229

		2014 £			2013 £
Finance charges
Bank charges		14,153			10,614
Hire purchase interest		4,847			5,005
Foreign currency (gains)/losses		303			(117)
		19,303			15,502

This page does not form part of the statutory financial statements
Page 26

The Beeches Professional and Therapeutic Services Limited
Detailed Consolidated Profit and Loss Account for the Year Ended 31 December 2014......... continued

		2014 £			2013 £
Depreciation costs
Depreciation of freehold property		59,324			55,538
Depreciation of plant and machinery		6,574			50
Depreciation of fixtures and fittings		43,294			18,312
Depreciation of motor vehicles		11,285			15,046
Depreciation of office equipment		9,178			3,601
(Profit)/loss on disposal of tangible fixed assets		383			2,768
		130,038			95,315

This page does not form part of the statutory financial statements
Page 27

The Beeches Professional and Therapeutic Services Limited
Detailed Company Profit and Loss Account for the Year Ended 31 December 2014

		2014						2013
	£			£			£			£
Turnover
Sales, UK					4,119,807						4,001,332
Other income					77,023						55,234
Management charges receivable					68,881						86,993
					4,265,711						4,143,559
Administrative expenses
Employment costs (analysed below)		(2,867,803)						(2,889,466)
Establishment costs (analysed below)		(327,101)						(332,525)
General administrative expenses (analysed below)		(516,273)						(572,941)
Finance charges (analysed below)		(18,797)						(15,446)
Depreciation costs (analysed below)		(113,738)						(92,648)
					(3,843,712)						(3,903,026)
Operating profit					421,999						240,533
Profit on ordinary activities before investment income and interest					421,999						240,533
Other interest receivable and similar income
Other interest receivable					-						3
Interest payable and similar charges
Loan interest		4,539						2,269
Other interest payable		4,664						6,583
					(9,203)						(8,852)
Profit on ordinary activities before taxation					412,796						231,684

This page does not form part of the statutory financial statements
Page 28

The Beeches Professional and Therapeutic Services Limited
Detailed Company Profit and Loss Account for the Year Ended 31 December 2014

		2014 £			2013 £
Employment costs
Wages and salaries		2,186,473			2,188,712
Staff NIC (Employers)		142,193			146,584
Directors remuneration		391,707			399,622
Directors NIC (Employers)		54,669			55,668
Staff pensions		14,270			4,900
Directors' pensions		50,725			65,515
Private health insurance		22,118			18,804
Staff training		5,648			9,661
		2,867,803			2,889,466

		2014 £			2013 £
Establishment costs
Rent and rates		42,420			22,683
Water rates		4,529			3,436
Light, heat and power		123,301			130,296
Insurance		24,027			24,180
Maintenance contracts		21,462			17,094
Repairs and renewals		111,362			134,836
		327,101			332,525

		2014 £			2013 £
General administrative expenses
Telephone and fax		17,673			14,315
Printing, postage and stationery		30,802			21,364
Trade subscriptions		7,817			8,334
Lease of motor vehicles		7,312			7,312
Sundry expenses		292,090			331,849
Cleaning		54,565			56,692
Auditor's remuneration - The audit of the company's annual accounts		18,164			14,538
Management fees		22,134			31,546
Legal and professional fees		28,404			50,014
Motor expenses		29,624			29,538
Travel and subsistence		7,688			7,439
		516,273			572,941

This page does not form part of the statutory financial statements
Page 29

The Beeches Professional and Therapeutic Services Limited
Detailed Company Profit and Loss Account for the Year Ended 31 December 2014......... continued

		2014 £			2013 £
Finance charges
Bank charges		13,647			10,558
Hire purchase interest		4,847			5,005
Foreign currency (gains)/losses		303			(117)
		18,797			15,446

		2014 £			2013 £
Depreciation costs
Depreciation of freehold property		57,324			52,871
Depreciation of plant and machinery		6,574			50
Depreciation of fixtures and fittings		28,994			18,312
Depreciation of motor vehicles		11,285			15,046
Depreciation of office equipment		9,178			3,601
(Profit)/loss on disposal of tangible fixed assets		383			2,768
		113,738			92,648

This page does not form part of the statutory financial statements
Page 30