The Recovery House Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 1, 1st Floor, Imperial Place, Maxwell Road, Borehamwood, Hertfordshire, WD6 1JN.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Financial liabilities 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 company after deducting all of its liabilities.
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
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.
The audit fee is borne by the company's parent company UK Addiction Treatment Group Limited.
The company had no employees during the year.
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
The company has given unlimited guarantees in favour of other group companies in support of certain borrowings of those entities. The combined borrowings for those entities amounted to £15,110,416 (2020: £14,985,118) as at the year end.
Following the year end there was a restructuring within the group the settlor of the The UKAT Group Trust is now UKAT Parent LLC, a company incorporated in the United States with the ultimate parent company being Global Growth Holdings Inc, a company incorporated in the United States.
There is not considered to be any ultimate owner of Global Growth Holdings Inc.
The company has taken advantage of the exemption in paragraph 1AC.35 within Section 1A of FRS 102 to not disclose transactions entered into between two or more members of a group, provided that any subsidiary which is party to the transactions is wholly-owned by such a member.
The immediate parent company is UK Addiction Treatment Group Limited, a company incorporated in the United Kingdom. The ultimate parent company as at the year end is UKAT Holdings LLC, a company incorporated in the USA. The ultimate controlling party as at the year end is a trust in which the trustee is H.S. Wilson. The ultimate beneficiary of the trust is R. Gaddy.
The company is consolidated into the group accounts of UK Addiction Treatment Group Limited. The registered office of UK Addiction Treatment Group Limited is Unit 1, 1st Floor, Imperial Place, Maxwell Road, Borehamwood, England, WS6 1JN.