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REGISTERED NUMBER: 04719164 (United Kingdom)















Financial Statements for the Year Ended 31 March 2023

for

The Beeches UK Limited

The Beeches UK Limited (Registered number: 04719164)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Balance Sheet 1

Notes to the Financial Statements 2


The Beeches UK Limited (Registered number: 04719164)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,478,157 1,775,611

CURRENT ASSETS
Debtors 5 518,363 348,916
Cash at bank 1,341,326 1,039,158
1,859,689 1,388,074
CREDITORS
Amounts falling due within one year 6 1,518,512 699,231
NET CURRENT ASSETS 341,177 688,843
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,819,334

2,464,454

CREDITORS
Amounts falling due after more than one
year

7

-

(4,167

)

PROVISIONS FOR LIABILITIES (210,742 ) (54,156 )
NET ASSETS 2,608,592 2,406,131

CAPITAL AND RESERVES
Called up share capital 215,320 215,320
Share premium 90,699 90,699
Revaluation reserve 9 625,730 640,551
Retained earnings 1,676,843 1,459,561
SHAREHOLDERS' FUNDS 2,608,592 2,406,131

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the director and authorised for issue on 17 November 2023 and were signed by:





A.P T Lalani - Director


The Beeches UK Limited (Registered number: 04719164)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

The Beeches UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is SBCH House, 212 Ballards Lane, London, N3 2LX.

2. ACCOUNTING POLICIES

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

Going concern
The director ha s reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The director regards the foreseeable future as no less than twelve months following the publication of these annual financial statements. The director has considered the company's balance sheet position as at the year end, its working capital forecasts, the current crisis and projections, taking account of possible changes in trading performance and the current state of its operating market, and are satisfied that for the foreseeable future the company's financial position is improving and will enable the company to remain in operational existence. Accordingly, they have adopted going concern basis in preparing these financial statements.

Significant judgements and estimates
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements
The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Assets impairment
The company reviews on an annual basis the carrying amounts of tangible assets in order to determine if there is an indication of impairment. If any such indication exists, an impairment review is carried out in order to determine the extent of the impairment loss.

Valuation of debtors
Valuation of debtors is based upon ongoing assessments of the probable estimated losses inherent in the trade and other debtors portfolio. Assessments are conducted by the board employing a methodology and guidelines, which are continually monitored and improved. The primary component of this methodology comprises specific allowances and collective allowances.

In assessing the need for collective allowances, management considers debtors in arrears over 121 days but excludes those for which there are valid indications that they will be collected.

The Beeches UK Limited (Registered number: 04719164)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business , and is shown net of VAT and other sales related taxes . The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered .

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings2% straight line basis
Leasehold land and buildingsOver the term of the lease
Fixtures and fittings25% Reducing balance basis
Computers25% Reducing balance basis
Motor vehicles25% Reducing balance basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of fixed assets
At each reporting year end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

The Beeches UK Limited (Registered number: 04719164)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
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.

Classification of financial liabilities
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
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
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 Beeches UK Limited (Registered number: 04719164)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued
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. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. 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 realized. 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. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs
are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits

Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 110 (2022 - 102 ) .

The Beeches UK Limited (Registered number: 04719164)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Short and
property leasehold fittings
£    £    £   
COST
At 1 April 2022 1,520,000 84,247 160,403
Additions - - 761,510
At 31 March 2023 1,520,000 84,247 921,913
DEPRECIATION
At 1 April 2022 - 10,354 116,656
Charge for year 15,200 5,619 108,274
At 31 March 2023 15,200 15,973 224,930
NET BOOK VALUE
At 31 March 2023 1,504,800 68,274 696,983
At 31 March 2022 1,520,000 73,893 43,747

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2022 160,375 81,419 2,006,444
Additions 111,875 5,583 878,968
At 31 March 2023 272,250 87,002 2,885,412
DEPRECIATION
At 1 April 2022 48,749 55,074 230,833
Charge for year 39,989 7,340 176,422
At 31 March 2023 88,738 62,414 407,255
NET BOOK VALUE
At 31 March 2023 183,512 24,588 2,478,157
At 31 March 2022 111,626 26,345 1,775,611

If freehold land and buildings had not been revalued they would have been included at the following histroic cost:

31.3.2331.3.22
£   £   

Cost1,093,9981,093,998
Accumulated depreciation(251,690)(240,750)
842,308853,248

Freehold land and buildings were valued on an open market on 05 April 2022 by Sanderson Weatherall.


The Beeches UK Limited (Registered number: 04719164)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 291,062 244,791
Amounts owed by group undertakings 97,180 67,180
Other debtors 130,121 36,945
518,363 348,916

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Hire purchase contracts (see note 8) 4,167 12,217
Trade creditors 141,330 40,396
Amounts owed to group undertakings 707,262 237,262
Taxation and social security 281,059 218,485
Other creditors 384,694 190,871
1,518,512 699,231

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Hire purchase contracts (see note 8) - 4,167

8. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.3.23 31.3.22
£    £   
Net obligations repayable:
Within one year 4,167 12,217
Between one and five years - 4,167
4,167 16,384

Included within other creditors is an amount of £4,167 (2022: £16,384) owed to hire purchase finance companies in respect of assets acquired under hire purchase agreements. These amounts are secured over assets acquired under such agreements.

9. RESERVES
Revaluation
reserve
£   
At 1 April 2022 640,551
Deferred tax on revaluation (10,561 )
Transfer to P&L reserves (4,260 )

At 31 March 2023 625,730

The Beeches UK Limited (Registered number: 04719164)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Sadikali Gulamabas Premji FCCA (Senior Statutory Auditor)
for and on behalf of Primera Accountants Limited

11. OTHER FINANCIAL COMMITMENTS

Lessee
The company also leases its properties, such leases are non-cancellable operating leases with contract term between 1 to 12 years. As at the year end the total commitment due under such lease agreements was £1,176,300 (2022: £765,550)

12. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

13. ULTIMATE CONTROLLING PARTY

The company's ultimate parent undertaking is Silver Birch Care (Holdings) Limited, a company incorporated in England and wales under company registration number 09049900.

The director considers the ultimate controlling party to be Mr A P T Lalani and his close family by the virtue of holding the entire share capital of Silver Birch Care (Holdings) Limited.