Company Registration No. 03838620 (England and Wales)
APPLETREE TREATMENT CENTRE LIMITED
ANNUAL REPORT AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 AUGUST 2017
PAGES FOR FILING WITH REGISTRAR
APPLETREE TREATMENT CENTRE LIMITED
COMPANY INFORMATION
Directors
A M Turnbull
C A Davies
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 - 7
APPLETREE TREATMENT CENTRE LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2017
31 August 2017
- 1 -
2017
2016
Notes
£
£
£
£
Fixed assets
Intangible assets
1
1
Tangible assets
4
55,841
76,981
Investments
5
692,871
646,829
748,713
723,811
Current assets
Debtors
6
473,932
790,570
Cash at bank and in hand
1,756,489
1,175,264
2,230,421
1,965,834
Creditors: amounts falling due within one year
7
(1,266,660)
(1,272,881)
Net current assets
963,761
692,953
Total assets less current liabilities
1,712,474
1,416,764
Provisions for liabilities
(10,000)
(10,000)
Net assets
1,702,474
1,406,764
Capital and reserves
Called up share capital
8
132
132
Profit and loss reserves
1,702,342
1,406,632
Total equity
1,702,474
1,406,764
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 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
T
he directors acknowledge their responsibilities for complying with the requirements of the Act 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 7 March 2018 and are signed on its behalf by:
A M Turnbull
C A Davies
Director
Director
Company Registration No. 03838620
APPLETREE TREATMENT CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2017
- 2 -
1
Accounting policies
Company information
Appletree Treatment Centre Limited is a
private
company
limited by shares
incorporated in England and Wales.
The
address of the
registered office
and place of business
is
given in the company information page of these financial statements.
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.
These financial statements for the year ended 31 August 2017
are the
first
financial statements of Appletree Treatment Centre Limited prepared in accordance with FRS 102
.
The date of transition to FRS 102 was 1 September 2015. An explanation of how transition to FRS 102 has affected the reported financial position and financial performance is given in note 11.
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
APPLETREE TREATMENT CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2017
1
Accounting policies
(Continued)
- 3 -
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.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue 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.
APPLETREE TREATMENT CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2017
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 84 (2016 - 79).
3
Intangible fixed assets
Goodwill
£
Cost
At 1 September 2016 and 31 August 2017
1
Amortisation and impairment
At 1 September 2016 and 31 August 2017
-
Carrying amount
At 31 August 2017
1
At 31 August 2016
1
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 September 2016
138,470
475,886
614,356
Additions
37,160
-
37,160
At 31 August 2017
175,630
475,886
651,516
Depreciation and impairment
At 1 September 2016
138,370
399,005
537,375
Depreciation charged in the year
3,816
54,484
58,300
At 31 August 2017
142,186
453,489
595,675
Carrying amount
At 31 August 2017
33,444
22,397
55,841
At 31 August 2016
100
76,881
76,981
5
Fixed asset investments
2017
2016
£
£
Investments
692,871
646,829
APPLETREE TREATMENT CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2017
5
Fixed asset investments
(Continued)
- 5 -
Movements in fixed asset investments
Investments other than loans
£
Cost or valuation
At 1 September 2016
646,829
Valuation changes
46,042
At 31 August 2017
692,871
Carrying amount
At 31 August 2017
692,871
At 31 August 2016
646,829
6
Debtors
2017
2016
Amounts falling due within one year
£
£
Trade debtors
393,480
715,436
Other debtors
2
-
Prepayments and accrued income
65,699
68,114
459,181
783,550
Deferred tax asset
14,751
7,020
473,932
790,570
7
Creditors: amounts falling due within one year
2017
2016
£
£
Bank loans and overdrafts
-
357
Payments received on account
782,753
752,016
Trade creditors
68,867
87,708
Corporation tax
106,793
129,097
Other taxation and social security
45,072
34,571
Other creditors
240,594
256,237
Accruals and deferred income
22,581
12,895
1,266,660
1,272,881
APPLETREE TREATMENT CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2017
- 6 -
8
Called up share capital
2017
2016
£
£
Ordinary share capital
Issued and fully paid
67 A Ordinary shares of £1 each
67
67
39 B Ordinary shares of £1 each
39
39
26 C Ordinary shares of £1 each
26
26
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:
2017
2016
£
£
Total commitment
93,333
133,333
10
Related party transactions
At the year end there is a balance of £30,000 (2016: £30,000) owed to a director of the company.
11
Reconciliations on adoption of FRS 102
Reconciliations and descriptions of the effect of the transition to FRS 102 on; (i) equity at the date of transition to FRS 102; (ii) equity at the end of the comparative period; and (iii) profit or loss for the comparative period reported under previous UK GAAP are given below.
Reconciliation of equity
1 September
31 August
2015
2016
£
£
Equity as reported under previous UK GAAP
1,001,658
1,359,935
Adjustments arising from transition to FRS 102:
Listed investments
-
46,829
Equity reported under FRS 102
1,001,658
1,406,764
APPLETREE TREATMENT CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2017
11
Reconciliations on adoption of FRS 102
(Continued)
- 7 -
Reconciliation of profit for the financial period
2016
£
Profit as reported under previous UK GAAP
508,277
Adjustments arising from transition to FRS 102:
Listed investments
46,829
Profit reported under FRS 102
555,106
Notes to reconciliations on adoption of FRS 102
Listed Investments
Under previous UK GAAP, listed investments were stated in the balance sheet at cost.
Under FRS 102, listed investments should be stated in the balance sheet at fair value. Changes in fair value are recognised in the profit and loss account.
2017-08-31
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