Burton Addiction Centre Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 03539372 (England and Wales)

THE BURTON ADDICTION CENTRE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs N Oliver MBE

Mr A Oliver

SECRETARY:

Mrs K Gray

REGISTERED OFFICE:

7 St John Street

Mansfield

Nottinghamshire

NG18 1QH

BUSINESS ADDRESS:

126 Station Street

Burton on Trent

Staffordshire

DE14 1BG

REGISTERED NUMBER:

03539372 (England and Wales)

ACCOUNTANTS:

ApC

Chartered Accountants

7 St John Street

Mansfield

Nottinghamshire

NG18 1QH

BANKERS:

HSBC

1 Lemming Street

Mansfield

Nottinghamshire

NG18 1LU

FIXED ASSETS

Tangible assets

5

3,045,881

2,702,517

Investment property

6

371,002

371,002

3,416,883

3,073,519

CURRENT ASSETS

Stocks

3,212

3,212

Debtors

7

154,562

152,804

Cash at bank and in hand

2,009

1,173

159,783

157,189

CREDITORS

Amounts falling due within one year

8

1,165,094

1,229,260

NET CURRENT LIABILITIES

(1,005,311

)

(1,072,071

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,411,572

2,001,448

CREDITORS

Amounts falling due after more than one year

9

(2,131,241

)

(1,738,142

)

PROVISIONS FOR LIABILITIES

(10,140

)

(23,642

)

NET ASSETS

270,191

239,664

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

269,191

238,664

SHAREHOLDERS' FUNDS

270,191

239,664

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

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

(b)

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

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the Board of Directors on 20 December 2017 and were signed on its behalf by:

Mrs N Oliver MBE - Director

1.	STATUTORY INFORMATION

The Burton Addiction Centre Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company Information page.

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

2.	STATEMENT OF COMPLIANCE

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

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Significant judgements and estimates

The significant judgements and estimates are as follows:

The directors estimate of the residual value of the properties and consider that if any depreciation was to be

charged, would be immaterial.

The company is releasing a capital grant in respect of start up costs to support its contribution to the local

community. The grant is released in line with the useful economic life of the assets that was purchased, and as

such is in line with the depreciation policy of those assets

The other significant judgements and estimates are detailed in the accounting policy of the fixed assets

depreciation rates. The rates are annually reviewed in line to what the directors believe the assets are worth

taken into account the income streams generated by those assets.

Turnover

Turnover represents the value of rehabilitation and connected services provided to customers during the year. In

respect of rehabilitation and connected services provided, all income is taken to profit and loss at the same point

as the right to receive consideration has been acquired.

Grant income is received from local and central government to assist the company is providing rehabilitation

services and projects where the company has tendered.

Tangible fixed assets

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

Freehold property

-

2% straight line

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

33% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

15% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

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

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws

that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of

the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

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

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

Financial instruments

Financial instruments and equity instruments are classified according to the substance of the contractual

arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of

the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt

instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as

such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the

profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the

outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability

then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited

direct to equity.

Government grants

A government grant was received in respect of specific property capital expenditure and is treated as deferred

income and is release to the profit and loss account over the estimated useful life of the asset to which it relates.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at

transaction price. Any losses arising from impairment are recognised in the profit and loss account in other

administrative expenses.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 85 .

5.	TANGIBLE FIXED ASSETS

Freehold

Short

Plant and

property

leasehold

machinery

£

£

£

COST

At 1 April 2016

2,624,556

221,334

38,484

Additions

342,456

522

-

Reclassification/transfer

(5,384

)

5,384

-

At 31 March 2017

2,961,628

227,240

38,484

DEPRECIATION

At 1 April 2016

327,749

31,791

23,332

Charge for year

52,025

27,545

2,969

Reclassification/transfer

(108

)

108

-

At 31 March 2017

379,666

59,444

26,301

NET BOOK VALUE

At 31 March 2017

2,581,962

167,796

12,183

At 31 March 2016

2,296,807

189,543

15,152

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2016

231,724

120,960

118,894

3,355,952

Additions

135,713

-

4,012

482,703

At 31 March 2017

367,437

120,960

122,906

3,838,655

DEPRECIATION

At 1 April 2016

137,248

41,413

91,902

653,435

Charge for year

27,015

19,887

9,898

139,339

Reclassification/transfer

-

-

-

-

At 31 March 2017

164,263

61,300

101,800

792,774

NET BOOK VALUE

At 31 March 2017

203,174

59,660

21,106

3,045,881

At 31 March 2016

94,476

79,547

26,992

2,702,517

Included in cost of land and buildings is freehold land of £ 269,677 (2016 - £ 269,677 ) which is not depreciated.

Included in the total net book value of tangible fixed assets held at 31 March 2017 was £59,660 (2016: £79,547)

motor vehicles held on hire purchase.

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2016

and 31 March 2017

371,002

NET BOOK VALUE

At 31 March 2017

371,002

At 31 March 2016

371,002

The directors reviewed the valuation of the investment property on 31 March 2017 against the current market

values at that date, and they do not believe that the value of the investment property is materially different to the

value stated on the balance sheet. As such no further revaluation has been made.

At the balance sheet date the carrying value of revaluations included within investment properties was £Nil

(2016: £Nil).

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

563

49,192

Amounts owed by related parties

15,608

15,551

Other debtors

55,716

56,341

Wages advance

-

258

Directors' current accounts

15,050

1,896

Prepayments and accrued income

67,625

29,566

154,562

152,804

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

616,679

528,924

Hire purchase contracts

27,634

27,091

Trade creditors

61,036

77,269

Amounts owed to related parties

80,852

-

Corporation tax

-

17,812

Social security and other taxes

33,982

41,809

Other creditors

13,721

3,880

Wages control account

729

2,685

Accruals and deferred income

131,410

379,790

Deferred government grants

199,051

150,000

1,165,094

1,229,260

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans - 2-5 years

399,519

380,496

Bank loans more 5 yr by instal

712,441

836,099

Hire purchase contracts

32,564

41,547

Deferred government grants

986,717

480,000

2,131,241

1,738,142

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

712,441

836,099

10.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank overdrafts

321,799

433,800

Bank loans

1,406,840

1,311,719

Hire purchase contracts

60,198

68,638

1,788,837

1,814,157

The bank loans and overdraft is secured over the freehold and investment properties held in the company. The

hire purchase liability is secured on the motor vehicles held on those agreements.

11.	CAPITAL COMMITMENTS

2017

2016

£

£

Contracted but not provided for in the

financial statements

-

-

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2017 and

31 March 2016:

2017

2016

£

£

Mrs N Oliver MBE and Mr A Oliver

Balance outstanding at start of year

1,896

(4,521

)

Amounts advanced

89,024

172,809

Amounts repaid

(75,870

)

(166,392

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

15,050

1,896

No interest was charged on the above amounts.

13.	RELATED PARTY DISCLOSURES

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

Oliver have an interest.

The company sold services to the following:

2017

2016

£

£

Burton Addiction Centre Supported Housing Limited

439,426

461,862

The company made donations to the following:

Langans Tea Rooms (Cannock) Limited

85,000

-

The O'Connor Gateway Trust

23,756

15,112

O'Connor Gateway Trading Limited

75,000

68,288

The company gave/(received) financial assistance to the following:

The O'Connor Gateway Trust

(16,658

)

(18,477

)

The O'Connor Trading Limited

(1,102

)

(217

)

The Recovery Group

-

5,000

Langan's Tea Rooms (Cannock) Limited

(15,309

)

5,853

The company carried out debt swaps to/(from) with the following companies:

O'Connor Trading Company Limited

(1,102

)

(10,175

)

Langan's Tea Rooms (Cannock) Limited

(15,309

)

(5,853

)

The O'Connor Gateway Trust

16,411

16,028

The company wrote off debts with the following companies:

The Recovery Group

-

44,550

BAC Safety Limited

-

1,899

At the balance sheet date the outstanding balances on the above transactions were as follows:

2017

2016

£

£

BAC Safety Limited

-

-

The Recovery Group

-

-

The O'Connor Gateway Trust

(45,852

)

2,217

Burton Addiction Centre Supported Housing Limited

15,608

13,334

The O'Connor Trading Limited

(19,000

)

-

Debtors

15,608

15,550

Creditors

80,852

-

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

2017

2016

£

£

Directors remuneration

98,436

94,263

Directors pension contributions

-

825

98,436

95,088

Key management personnel remuneration in the year totalled £98,436. (2016: £95,088)

The company also paid dividends to shareholders during the year as follows:

2017

2016

£

£

Mrs N Oliver MBE

5,000

45,720

Mr A Oliver

5,000

45,720