The Beeches Prof & Therapeutic Services - Limited company accounts 20.1

The Beeches Prof & Therapeutic Services - Limited company accounts 20.1

THE BEECHES PROFESSIONAL AND THERAPEUTIC SERVICES LIMITED - Company Information

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IRIS Accounts Production v21.1.6.35 NI028742 Board of Directors 31.12.20 1.1.20 31.12.20 31.12.20 Provision of residential and nursing care for persons with learning disabilities. true true true false true true false false false false true false Ordinary A 1.00000 Ordinary B 1.00000 Ordinary C 1.00000 Ordinary D 1.00000 Ordinary E 1.00000 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REGISTERED NUMBER: NI028742 (Northern Ireland)















Group Strategic Report,

Report of the Directors and

Consolidated Financial Statements

for the Year Ended 31 December 2020

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 2020




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 2020







DIRECTORS: Mr James Patrick Francis Wilson
Mrs Frances Wilson
Mr James Brian Wilson
Mrs Joan Clare Wilson
Mr Jonathan Wilson
Mrs Aileen Wilson
Mr Jeffrey Wilson





REGISTERED OFFICE: 9/11 Lurgan Road
Aghalee
Craigavon
Co. Armagh
BT67 0DD





REGISTERED NUMBER: NI028742 (Northern Ireland)





AUDITORS: McCleary & Company Ltd
Chartered Accountants and Registered Auditors
Garvey Studios
14 Longstone Street
Lisburn
Co. Antrim
BT28 1TP
Page 1
The Beeches Professional and Therapeutic
Services Limited (Registered number: NI028742)


Group Strategic Report
for the Year Ended 31 December 2020

The directors present their strategic report of the company and the group for the year ended 31 December 2020.

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 decreased by just over 2%, whilst the running costs increased by just over 8% causing a decrease in the operating profit from £621,123 for the year ended 31 December 2019 to £496,920 for the current year. The Group Balance Sheet remains strong with Total Capital and Reserves of £3,622,286. 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:





Mr James Brian Wilson - Director


25 August 2021

Page 2
The Beeches Professional and Therapeutic
Services Limited (Registered number: NI028742)


Report of the Directors
for the Year Ended 31 December 2020

The directors present their report with the financial statements of the company and the group for the year ended 31 December 2020.

DIVIDENDS
Interim dividends per share were paid during the year as follows:
Ordinary A £1 - £4.6126 - 20 April 2020
Ordinary B £1 - £3.1048 - 20 April 2020
Ordinary C £1 - £4.6126 - 20 April 2020
Ordinary E £1 - £13.1844 - 20 April 2020
Ordinary F £1 - £18.8348 - 20 April 2020

The total distribution of dividends for the year ended 31 December 2020 will be £ 378,444 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2020 to the date of this report.

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

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.

Page 3
The Beeches Professional and Therapeutic
Services Limited (Registered number: NI028742)


Report of the Directors
for the Year Ended 31 December 2020


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:





Mr James Brian Wilson - Director


25 August 2021

Page 4

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 2020 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 2020 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.

Page 5

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.

Page 6

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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. 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.

Page 7

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.




John McCleary (Senior Statutory Auditor)
for and on behalf of McCleary & Company Ltd
Chartered Accountants and Registered Auditors
Garvey Studios
14 Longstone Street
Lisburn
Co. Antrim
BT28 1TP

25 August 2021


McCleary & Company Ltd.

Page 8
The Beeches Professional and Therapeutic
Services Limited (Registered number: NI028742)


Consolidated Income Statement
for the Year Ended 31 December 2020

31.12.20 31.12.19
Notes £    £   

TURNOVER 5,052,386 5,203,548

Distribution costs (3,622,562 ) (3,277,668 )
Administrative expenses (1,344,495 ) (1,325,698 )
85,329 600,182

Other operating income 411,591 20,941
OPERATING PROFIT 4 496,920 621,123

Interest receivable and similar income - 8
496,920 621,131

Interest payable and similar expenses 5 (41,200 ) (45,282 )
PROFIT BEFORE TAXATION 455,720 575,849

Tax on profit 6 (151,282 ) (133,696 )
PROFIT FOR THE FINANCIAL
YEAR
304,438
442,153
Profit attributable to:
Owners of the parent 304,438 442,153

The notes form part of these financial statements

Page 9
The Beeches Professional and Therapeutic
Services Limited (Registered number: NI028742)


Consolidated Other Comprehensive Income
for the Year Ended 31 December 2020

31.12.20 31.12.19
Notes £    £   

PROFIT FOR THE YEAR 304,438 442,153


OTHER COMPREHENSIVE INCOME
Revaluation of property
Capital redemption reserve (55,208 ) (237,053 )
Income tax relating to other
comprehensive income
-
-
OTHER COMPREHENSIVE
INCOME FOR THE YEAR, NET OF
INCOME TAX

(55,208

)

(237,053

)
TOTAL COMPREHENSIVE
INCOME FOR THE YEAR
249,230
205,100

Total comprehensive income attributable to:
Owners of the parent 249,230 205,100

The notes form part of these financial statements

Page 10
The Beeches Professional and Therapeutic
Services Limited (Registered number: NI028742)


Consolidated Balance Sheet
31 December 2020

31.12.20 31.12.19
Notes £    £   
FIXED ASSETS
Tangible assets 9 5,702,431 6,283,812
Investments 10 - -
5,702,431 6,283,812

CURRENT ASSETS
Debtors 11 576,127 467,173
Cash at bank and in hand 534,506 436,385
1,110,633 903,558
CREDITORS
Amounts falling due within one year 12 (2,193,479 ) (2,278,262 )
NET CURRENT LIABILITIES (1,082,846 ) (1,374,704 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
4,619,585
4,909,108

CREDITORS
Amounts falling due after more than one
year
13
(521,549
)
(675,536
)

PROVISIONS FOR LIABILITIES 16 (475,750 ) (481,280 )
NET ASSETS 3,622,286 3,752,292

The notes form part of these financial statements

Page 11 continued...
The Beeches Professional and Therapeutic
Services Limited (Registered number: NI028742)


Consolidated Balance Sheet - continued
31 December 2020

31.12.20 31.12.19
Notes £    £   
CAPITAL AND RESERVES
Called up share capital 17 519,556 520,348
Share premium 18 44,727 44,727
Revaluation reserve 18 2,166,620 2,175,878
Capital redemption reserve 18 4,206 3,414
Retained earnings 18 887,177 1,007,925
SHAREHOLDERS' FUNDS 3,622,286 3,752,292


The financial statements were approved by the Board of Directors and authorised for issue on 25 August 2021 and were signed on its behalf by:





Mr James Brian Wilson - Director


The notes form part of these financial statements

Page 12
The Beeches Professional and Therapeutic
Services Limited (Registered number: NI028742)


Company Balance Sheet
31 December 2020

31.12.20 31.12.19
Notes £    £   
FIXED ASSETS
Tangible assets 9 5,438,275 6,012,664
Investments 10 142,733 142,733
5,581,008 6,155,397

CURRENT ASSETS
Debtors 11 695,609 584,155
Cash at bank and in hand 534,506 436,385
1,230,115 1,020,540
CREDITORS
Amounts falling due within one year 12 (2,166,303 ) (2,228,670 )
NET CURRENT LIABILITIES (936,188 ) (1,208,130 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
4,644,820
4,947,267

CREDITORS
Amounts falling due after more than one
year
13
(521,549
)
(675,536
)

PROVISIONS FOR LIABILITIES 16 (469,944 ) (474,450 )
NET ASSETS 3,653,327 3,797,281

The notes form part of these financial statements

Page 13 continued...
The Beeches Professional and Therapeutic
Services Limited (Registered number: NI028742)


Company Balance Sheet - continued
31 December 2020

31.12.20 31.12.19
Notes £    £   
CAPITAL AND RESERVES
Called up share capital 17 519,556 520,348
Share premium 18 44,727 44,727
Revaluation reserve 18 2,018,881 2,028,139
Capital redemption reserve 18 4,206 3,414
Retained earnings 18 1,065,957 1,200,653
SHAREHOLDERS' FUNDS 3,653,327 3,797,281

Company's profit for the financial year 290,490 435,252


The financial statements were approved by the Board of Directors and authorised for issue on 25 August 2021 and were signed on its behalf by:





Mr James Brian Wilson - Director


The notes form part of these financial statements

Page 14
The Beeches Professional and Therapeutic
Services Limited (Registered number: NI028742)


Consolidated Statement of Changes in Equity
for the Year Ended 31 December 2020

Called up
share Retained Share
capital earnings premium
£    £    £   

Balance at 1 January 2019 523,762 1,202,545 44,727

Changes in equity
Issue of share capital (3,414 ) - -
Dividends - (405,564 ) -
Total comprehensive income - 210,944 -
Balance at 31 December 2019 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
Capital
Revaluation redemption Total
reserve reserve equity
£    £    £   

Balance at 1 January 2019 2,185,136 - 3,956,170

Changes in equity
Issue of share capital - - (3,414 )
Dividends - - (405,564 )
Total comprehensive income (9,258 ) 3,414 205,100
Balance at 31 December 2019 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

The notes form part of these financial statements

Page 15
The Beeches Professional and Therapeutic
Services Limited (Registered number: NI028742)


Company Statement of Changes in Equity
for the Year Ended 31 December 2020

Called up
share Retained Share
capital earnings premium
£    £    £   

Balance at 1 January 2019 523,762 1,402,174 44,727

Changes in equity
Issue of share capital (3,414 ) - -
Dividends - (405,564 ) -
Total comprehensive income - 204,043 -
Balance at 31 December 2019 520,348 1,200,653 44,727

Changes in equity
Issue of share capital (792 ) - -
Dividends - (378,444 ) -
Total comprehensive income - 243,748 -
Balance at 31 December 2020 519,556 1,065,957 44,727
Capital
Revaluation redemption Total
reserve reserve equity
£    £    £   

Balance at 1 January 2019 2,037,397 - 4,008,060

Changes in equity
Issue of share capital - - (3,414 )
Dividends - - (405,564 )
Total comprehensive income (9,258 ) 3,414 198,199
Balance at 31 December 2019 2,028,139 3,414 3,797,281

Changes in equity
Issue of share capital - - (792 )
Dividends - - (378,444 )
Total comprehensive income (9,258 ) 792 235,282
Balance at 31 December 2020 2,018,881 4,206 3,653,327

The notes form part of these financial statements

Page 16
The Beeches Professional and Therapeutic
Services Limited (Registered number: NI028742)


Consolidated Cash Flow Statement
for the Year Ended 31 December 2020

31.12.20 31.12.19
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 528,819 817,895
Interest paid (40,831 ) (44,848 )
Interest element of hire purchase
payments paid
(369
)
(434
)
Tax paid (148,053 ) (120,349 )
Net cash from operating activities 339,566 652,264

Cash flows from investing activities
Purchase of tangible fixed assets (24,978 ) (21,376 )
Sale of tangible fixed assets 179,625 -
Interest received - 8
Net cash from investing activities 154,647 (21,368 )

Cash flows from financing activities
New loans in year - 131,185
Loan repayments in year (151,155 ) (5,685 )
Capital repayments in year (4,095 ) (3,680 )
Amount introduced by directors 392,922 415,557
Amount withdrawn by directors (388,905 ) (493,474 )
Share issue (792 ) (3,414 )
Share buyback (55,208 ) (237,053 )
Government Grants 384,991 -
Equity dividends paid (378,444 ) (405,564 )
Net cash from financing activities (200,686 ) (602,128 )

Increase in cash and cash equivalents 293,527 28,768
Cash and cash equivalents at
beginning of year
2
(463,373
)
(492,141
)

Cash and cash equivalents at end of
year
2
(169,846
)
(463,373
)

The notes form part of these financial statements

Page 17
The Beeches Professional and Therapeutic
Services Limited (Registered number: NI028742)


Notes to the Consolidated Cash Flow Statement
for the Year Ended 31 December 2020

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
31.12.20 31.12.19
£    £   
Profit before taxation 455,720 575,849
Depreciation charges 189,498 216,273
Loss on disposal of fixed assets 237,236 -
Government grants (384,991 ) -
Finance costs 41,200 45,282
Finance income - (8 )
538,663 837,396
(Increase)/decrease in trade and other debtors (108,954 ) 11,762
Increase/(decrease) in trade and other creditors 99,110 (31,263 )
Cash generated from operations 528,819 817,895

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 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 )
Year ended 31 December 2019
31.12.19 1.1.19
£    £   
Cash and cash equivalents 436,385 951,910
Bank overdrafts (899,758 ) (1,444,051 )
(463,373 ) (492,141 )


The notes form part of these financial statements

Page 18
The Beeches Professional and Therapeutic
Services Limited (Registered number: NI028742)


Notes to the Consolidated Cash Flow Statement
for the Year Ended 31 December 2020

3. ANALYSIS OF CHANGES IN NET DEBT

At 1.1.20 Cash flow At 31.12.20
£    £    £   
Net cash
Cash at bank and in hand 436,385 98,121 534,506
Bank overdrafts (899,758 ) 195,406 (704,352 )
(463,373 ) 293,527 (169,846 )
Debt
Finance leases (4,778 ) 4,095 (683 )
Debts falling due within 1 year (146,301 ) (2,149 ) (148,450 )
Debts falling due after 1 year (674,853 ) 153,304 (521,549 )
(825,932 ) 155,250 (670,682 )
Total (1,289,305 ) 448,777 (840,528 )

The notes form part of these financial statements

Page 19
The Beeches Professional and Therapeutic
Services Limited (Registered number: NI028742)


Notes to the Consolidated Financial Statements
for the Year Ended 31 December 2020

1. STATUTORY INFORMATION

The Beeches Professional and Therapeutic Services Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the General Information page.


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

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.

Page 20 continued...
The Beeches Professional and Therapeutic
Services Limited (Registered number: NI028742)


Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2020

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
31.12.20 31.12.19
£    £   
Wages and salaries 3,296,027 3,025,715
Social security costs 225,788 198,245
Other pension costs 68,557 50,449
3,590,372 3,274,409

The average number of employees during the year was as follows:
31.12.20 31.12.19

Administration and support 186 192

The average number of employees by undertakings that were proportionately consolidated during the year was 186 (2019 - 192 ) .

31.12.20 31.12.19
£    £   
Directors' remuneration 188,371 213,945
Compensation to director for loss of office - 30,000

4. OPERATING PROFIT

The operating profit is stated after charging:

31.12.20 31.12.19
£    £   
Depreciation - owned assets 189,498 216,274
Loss on disposal of fixed assets 237,236 -
Auditors' remuneration 18,268 20,232

Page 21 continued...
The Beeches Professional and Therapeutic
Services Limited (Registered number: NI028742)


Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2020

5. INTEREST PAYABLE AND SIMILAR EXPENSES
31.12.20 31.12.19
£    £   
Loan interest 33,774 37,429
Interest payable 7,057 7,419
Hire purchase 369 434
41,200 45,282

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.12.20 31.12.19
£    £   
Current tax:
Tax 156,812 148,068

Deferred tax (5,530 ) (14,372 )
Tax on profit 151,282 133,696

Tax effects relating to effects of other comprehensive income

31.12.20
Gross Tax Net
£    £    £   
Revaluation of property
Capital redemption reserve (55,208 ) - (55,208 )
(55,208 ) - (55,208 )

31.12.19
Gross Tax Net
£    £    £   
Revaluation of property
Capital redemption reserve (237,053 ) - (237,053 )
(237,053 ) - (237,053 )

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.


Page 22 continued...
The Beeches Professional and Therapeutic
Services Limited (Registered number: NI028742)


Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2020

8. DIVIDENDS
31.12.20 31.12.19
£    £   
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 D shares of £1 each
Interim - 27,120
Ordinary E shares of £1 each
Interim 65,922 65,922
Ordinary F shares of £1 each
Interim 65,922 65,922
378,444 405,564

9. TANGIBLE FIXED ASSETS

Group
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST OR VALUATION
At 1 January 2020 6,573,020 105,934 2,073,024
Additions - - 24,978
Disposals (533,747 ) - (1,692 )
At 31 December 2020 6,039,273 105,934 2,096,310
DEPRECIATION
At 1 January 2020 761,062 81,571 1,635,423
Charge for year 111,225 6,090 69,340
Eliminated on disposal (117,215 ) - (1,363 )
At 31 December 2020 755,072 87,661 1,703,400
NET BOOK VALUE
At 31 December 2020 5,284,201 18,273 392,910
At 31 December 2019 5,811,958 24,363 437,601

Page 23 continued...
The Beeches Professional and Therapeutic
Services Limited (Registered number: NI028742)


Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2020

9. TANGIBLE FIXED ASSETS - continued

Group

Motor Computer
vehicles equipment Totals
£    £    £   
COST OR VALUATION
At 1 January 2020 39,594 111,436 8,903,008
Additions - - 24,978
Disposals - - (535,439 )
At 31 December 2020 39,594 111,436 8,392,547
DEPRECIATION
At 1 January 2020 30,197 110,943 2,619,196
Charge for year 2,350 493 189,498
Eliminated on disposal - - (118,578 )
At 31 December 2020 32,547 111,436 2,690,116
NET BOOK VALUE
At 31 December 2020 7,047 - 5,702,431
At 31 December 2019 9,397 493 6,283,812

Cost or valuation at 31 December 2020 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 39,594 111,436 7,243,815
39,594 111,436 8,392,547

Page 24 continued...
The Beeches Professional and Therapeutic
Services Limited (Registered number: NI028742)


Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2020

9. TANGIBLE FIXED ASSETS - continued

Company
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST OR VALUATION
At 1 January 2020 6,333,020 105,934 1,977,710
Additions - - 24,978
Disposals (533,747 ) - (1,692 )
At 31 December 2020 5,799,273 105,934 2,000,996
DEPRECIATION
At 1 January 2020 756,262 81,571 1,576,057
Charge for year 109,625 6,090 63,948
Eliminated on disposal (117,215 ) - (1,363 )
At 31 December 2020 748,672 87,661 1,638,642
NET BOOK VALUE
At 31 December 2020 5,050,601 18,273 362,354
At 31 December 2019 5,576,758 24,363 401,653

Motor Computer
vehicles equipment Totals
£    £    £   
COST OR VALUATION
At 1 January 2020 39,594 111,436 8,567,694
Additions - - 24,978
Disposals - - (535,439 )
At 31 December 2020 39,594 111,436 8,057,233
DEPRECIATION
At 1 January 2020 30,197 110,943 2,555,030
Charge for year 2,350 493 182,506
Eliminated on disposal - - (118,578 )
At 31 December 2020 32,547 111,436 2,618,958
NET BOOK VALUE
At 31 December 2020 7,047 - 5,438,275
At 31 December 2019 9,397 493 6,012,664

Page 25 continued...
The Beeches Professional and Therapeutic
Services Limited (Registered number: NI028742)


Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2020

9. TANGIBLE FIXED ASSETS - continued

Company

Cost or valuation at 31 December 2020 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 39,594 111,436 6,755,422
39,594 111,436 8,057,233

10. FIXED ASSET INVESTMENTS

Company
Unlisted
investments
£   
COST OR VALUATION
At 1 January 2020
and 31 December 2020 142,733
NET BOOK VALUE
At 31 December 2020 142,733
At 31 December 2019 142,733

Page 26 continued...
The Beeches Professional and Therapeutic
Services Limited (Registered number: NI028742)


Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2020

10. FIXED ASSET INVESTMENTS - continued

Company

Cost or valuation at 31 December 2020 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

The Beeches Property Limited- 01192353 (England and Wales)
Registered office: 49 Station Road, Polegate, East Sussex BN26 6EA
Nature of business: Property rental
%
Class of shares: holding
Ordinary 100.00
31.12.20 31.12.19
£    £   
Aggregate capital and reserves 162,962 153,665
Profit for the year 9,297 3,315

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.

The Beeches Catering Services Ltd - NI037734 (Northern Ireland)
Registered office: 41 Lisburn Road, Ballynahinch,Co Down, BT24 8TT
Nature of business: Rental
%
Class of shares: holding
Ordinary 100.00
31.12.20 31.12.19
£    £   
Aggregate capital and reserves (51,271 ) (55,921 )
Profit for the year 4,650 3,587

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.

Page 27 continued...
The Beeches Professional and Therapeutic
Services Limited (Registered number: NI028742)


Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2020

10. FIXED ASSET INVESTMENTS - continued


11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.12.20 31.12.19 31.12.20 31.12.19
£    £    £    £   
Trade debtors 83,793 110,401 83,793 110,401
Amounts owed by group undertakings - - 116,982 116,982
Other debtors 469,149 332,457 469,149 332,457
VAT 2,050 - 4,550 -
Prepayments and accrued income 21,135 24,315 21,135 24,315
576,127 467,173 695,609 584,155

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.12.20 31.12.19 31.12.20 31.12.19
£    £    £    £   
Bank loans and overdrafts (see note 14) 852,802 1,046,059 875,865 1,054,666
Hire purchase contracts (see note 15) 683 4,095 683 4,095
Trade creditors 102,085 176,541 102,085 176,541
Tax 156,827 148,068 152,156 144,863
VAT - 2,632 - 50
Other creditors 549,010 453,377 534,010 438,377
Other creditors 39,591 37,871 39,591 37,871
Credit card (21 ) - (21 ) -
Directors' current accounts 269,367 265,350 240,239 231,223
Accrued expenses 223,135 144,269 221,695 140,984
2,193,479 2,278,262 2,166,303 2,228,670

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

Group Company
31.12.20 31.12.19 31.12.20 31.12.19
£    £    £    £   
Bank loans (see note 14) 521,549 674,853 521,549 674,853
Hire purchase contracts (see note 15) - 683 - 683
521,549 675,536 521,549 675,536

Page 28 continued...
The Beeches Professional and Therapeutic
Services Limited (Registered number: NI028742)


Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2020

14. LOANS

An analysis of the maturity of loans is given below:

Group Company
31.12.20 31.12.19 31.12.20 31.12.19
£    £    £    £   
Amounts falling due within one year or on demand:
Bank overdrafts 704,352 899,758 727,415 908,365
Bank loans 148,450 146,301 148,450 146,301
852,802 1,046,059 875,865 1,054,666
Amounts falling due between two and five years:
Bank loans - 2-5 years 521,549 674,853 521,549 674,853

15. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
31.12.20 31.12.19
£    £   
Net obligations repayable:
Within one year 683 4,095
Between one and five years - 683
683 4,778

Company
Hire purchase contracts
31.12.20 31.12.19
£    £   
Net obligations repayable:
Within one year 683 4,095
Between one and five years - 683
683 4,778

Page 29 continued...
The Beeches Professional and Therapeutic
Services Limited (Registered number: NI028742)


Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2020

16. PROVISIONS FOR LIABILITIES

Group Company
31.12.20 31.12.19 31.12.20 31.12.19
£    £    £    £   
Deferred tax
Accelerated capital allowances 45,110 48,468 39,304 41,638
Other timing differences 430,640 432,812 430,640 432,812
475,750 481,280 469,944 474,450

Group
Deferred
tax
£   
Balance at 1 January 2020 481,280
Accelerated capital allowance (3,358 )
Other timing differences (2,172 )
Balance at 31 December 2020 475,750

Company
Deferred
tax
£   
Balance at 1 January 2020 474,450
Provided during year (4,506 )
Balance at 31 December 2020 469,944

Recognised deferred tax assets, as indicated by balances shown within brackets above, are included in Other debtors.

Page 30 continued...
The Beeches Professional and Therapeutic
Services Limited (Registered number: NI028742)


Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2020

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.20 31.12.19
value: £    £   
20,000 Ordinary A £1 20,000 20,000
20,000 Ordinary B £1 20,000 20,000
20,000 Ordinary C £1 20,000 20,000
1,056 Ordinary D £1 1,056 1,848
5,000 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
519,556 520,348

18. RESERVES

Group
Capital
Retained Share Revaluation redemption
earnings premium reserve reserve Totals
£    £    £    £    £   

At 1 January 2020 1,007,925 44,727 2,175,878 3,414 3,231,944
Profit for the year 304,438 304,438
Dividends (378,444 ) (378,444 )
Purchase of own shares (56,000 ) - - 792 (55,208 )
Revaluation of property 9,258 - (9,258 ) - -
At 31 December 2020 887,177 44,727 2,166,620 4,206 3,102,730

Company
Capital
Retained Share Revaluation redemption
earnings premium reserve reserve Totals
£    £    £    £    £   

At 1 January 2020 1,200,653 44,727 2,028,139 3,414 3,276,933
Profit for the year 290,490 290,490
Dividends (378,444 ) (378,444 )
Purchase of own shares (56,000 ) - - 792 (55,208 )
Revaluation of property 9,258 - (9,258 ) - -
At 31 December 2020 1,065,957 44,727 2,018,881 4,206 3,133,771


Page 31 continued...
The Beeches Professional and Therapeutic
Services Limited (Registered number: NI028742)


Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2020

19. RELATED PARTY DISCLOSURES

During the year, total dividends of £378,444 were paid to the directors .

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.

Page 32