Company Registration No. 03838620 (England and Wales)
APPLETREE TREATMENT CENTRE LIMITED
ANNUAL REPORT AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 AUGUST 2020
PAGES FOR FILING WITH REGISTRAR
APPLETREE TREATMENT CENTRE LIMITED
COMPANY INFORMATION
Directors
A M Turnbull
D McMullen
Secretary
Mrs AM Turnbull
Company number
03838620
Registered office
Meathop Park
Meathop
Grange over Sands
Cumbria
LA11 6RF
Accountants
Newby Castleman LLP
West Walk Building
110 Regent Road
Leicester
LE1 7LT
Business address
Natland
Kendal
Cumbria
LA9 7QS
Bankers
National Westminster Bank plc
10 Elephants Yard
Kendal
Cumbria
LA9 4QQ
APPLETREE TREATMENT CENTRE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
APPLETREE TREATMENT CENTRE LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2020
31 August 2020
- 1 -
2020
2019
Notes
£
£
£
£
Fixed assets
Intangible assets
1
1
Tangible assets
4
86,676
77,531
Investments
5
714,318
719,159
800,995
796,691
Current assets
Debtors
6
359,520
187,428
Cash at bank and in hand
2,191,898
1,993,593
2,551,418
2,181,021
Creditors: amounts falling due within one year
7
(687,277)
(748,942)
Net current assets
1,864,141
1,432,079
Total assets less current liabilities
2,665,136
2,228,770
Provisions for liabilities
(10,000)
(10,000)
Net assets
2,655,136
2,218,770
Capital and reserves
Called up share capital
8
132
132
Profit and loss reserves
2,655,004
2,218,638
Total equity
2,655,136
2,218,770
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 August 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 25 March 2021 and are signed on its behalf by:
A M Turnbull
Director
Company Registration No. 03838620
APPLETREE TREATMENT CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2020
- 2 -
1
Accounting policies
Company information
Appletree Treatment Centre Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Meathop Park, Meathop, Grange over Sands, Cumbria, LA11 6RF.
1.1
Basis of preparation
These financial statements have been prepared in accordance with applicable accounting standards including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
1.3
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated
amortisation and accumulated impairment losses.
1.4
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Land and buildings Leasehold
10% per annum of cost
Equipment
33.33% per annum of cost
Fixtures, fittings & furnishings
33.33% per annum of cost
Motor vehicles
33.33% per annum of cost
1.5
Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
In
vestments in equity instruments are initially measured at fair value, which is normally the transaction price
excluding transactions costs
. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss.
Debtors and creditors with no stated interest rate and receivable or payable within one year are measured at transaction price. Any losses arising from impairment are recognised in the profit and loss account.
APPLETREE TREATMENT CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2020
1
Accounting policies
(Continued)
- 3 -
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity.
1.8
Provisions
Provisions are recognised when the
company
has a legal or constructive present obligation as a result of a past event, it is probable that the
company
will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
1.9
Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.
1.10
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 95 (2019 - 90).
2020
2019
Number
Number
Total
95
90
APPLETREE TREATMENT CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2020
- 4 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 September 2019 and 31 August 2020
1
Amortisation and impairment
At 1 September 2019 and 31 August 2020
-
Carrying amount
At 31 August 2020
1
At 31 August 2019
1
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 September 2019
200,500
500,321
700,821
Additions
-
51,300
51,300
Disposals
-
(25,465)
(25,465)
At 31 August 2020
200,500
526,156
726,656
Depreciation and impairment
At 1 September 2019
154,592
468,698
623,290
Depreciation charged in the year
6,203
35,952
42,155
Eliminated in respect of disposals
-
(25,465)
(25,465)
At 31 August 2020
160,795
479,185
639,980
Carrying amount
At 31 August 2020
39,705
46,971
86,676
At 31 August 2019
45,908
31,623
77,531
5
Fixed asset investments
2020
2019
£
£
Other investments other than loans
714,318
719,159
APPLETREE TREATMENT CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2020
5
Fixed asset investments
(Continued)
- 5 -
Movements in fixed asset investments
Investments other than loans
£
Cost or valuation
At 1 September 2019
719,159
Valuation changes
(4,841)
At 31 August 2020
714,318
Carrying amount
At 31 August 2020
714,318
At 31 August 2019
719,159
6
Debtors
2020
2019
Amounts falling due within one year
£
£
Trade debtors
262,376
93,743
Other debtors
-
100
Prepayments and accrued income
83,550
82,579
345,926
176,422
Deferred tax asset
13,594
11,006
359,520
187,428
7
Creditors: amounts falling due within one year
2020
2019
£
£
Payments received on account
58,406
141,192
Trade creditors
43,543
83,287
Corporation tax
141,225
79,398
Other taxation and social security
58,721
50,571
Other creditors
343,721
380,156
Accruals and deferred income
41,661
14,338
687,277
748,942
APPLETREE TREATMENT CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2020
- 6 -
8
Called up share capital
2020
2019
2020
2019
Ordinary share capital
Number
Number
£
£
Issued and fully paid
A Ordinary shares of £1 each
67
67
67
67
B Ordinary shares of £1 each
39
39
39
39
C Ordinary shares of £1 each
26
26
26
26
132
132
132
132
9
Operating lease commitments
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2020
2019
£
£
Total commitment
60,000
20,000
10
Directors' transactions
Dividends totalling £50,000 (2019 - £50,000) were paid in the year in respect of shares held by the company's directors.
Creditors falling due within one year include a director's current account balance of £50,0000 (2019 - £50,000).