Company Registration No. 03838620 (England and Wales)
APPLETREE TREATMENT CENTRE LIMITED
ANNUAL REPORT AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 AUGUST 2018
PAGES FOR FILING WITH REGISTRAR
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 2018
31 August 2018
- 1 -
2018
2017
Notes
£
£
£
£
Fixed assets
Intangible assets
1
1
Tangible assets
4
66,829
55,841
Investments
5
693,796
692,871
760,626
748,713
Current assets
Debtors
6
484,123
473,932
Cash at bank and in hand
2,019,944
1,756,489
2,504,067
2,230,421
Creditors: amounts falling due within one year
7
(1,247,797)
(1,266,660)
Net current assets
1,256,270
963,761
Total assets less current liabilities
2,016,896
1,712,474
Provisions for liabilities
(10,000)
(10,000)
Net assets
2,006,896
1,702,474
Capital and reserves
Called up share capital
8
132
132
Profit and loss reserves
2,006,764
1,702,342
Total equity
2,006,896
1,702,474
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 2018 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 14 January 2019 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 2018
- 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.
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 2018
1
Accounting policies
(Continued)
- 3 -
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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 89 (2017 - 84).
APPLETREE TREATMENT CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2018
- 4 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 September 2017 and 31 August 2018
1
Amortisation and impairment
At 1 September 2017 and 31 August 2018
-
Carrying amount
At 31 August 2018
1
At 31 August 2017
1
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 September 2017
175,630
475,886
651,516
Additions
24,870
20,940
45,810
At 31 August 2018
200,500
496,826
697,326
Depreciation and impairment
At 1 September 2017
142,186
453,489
595,675
Depreciation charged in the year
6,203
28,619
34,822
At 31 August 2018
148,389
482,108
630,497
Carrying amount
At 31 August 2018
52,111
14,718
66,829
At 31 August 2017
33,444
22,397
55,841
5
Fixed asset investments
2018
2017
£
£
Investments
693,796
692,871
APPLETREE TREATMENT CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2018
- 5 -
6
Debtors
2018
2017
Amounts falling due within one year
£
£
Trade debtors
395,210
393,480
Other debtors
-
2
Prepayments and accrued income
76,269
65,699
471,479
459,181
Deferred tax asset
12,644
14,751
484,123
473,932
7
Creditors: amounts falling due within one year
2018
2017
£
£
Payments received on account
726,443
782,753
Trade creditors
74,803
68,867
Corporation tax
114,383
106,793
Other taxation and social security
47,392
45,072
Other creditors
272,541
240,594
Accruals and deferred income
12,235
22,581
1,247,797
1,266,660
8
Called up share capital
2018
2017
£
£
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:
2018
2017
£
£
Total commitment
80,000
93,333
APPLETREE TREATMENT CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2018
- 6 -
10
Directors' transactions
Dividends totalling £170,000 (2017 - £150,000) 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 £30,000 (2017 - £30,000).