REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
YEW TREE CARE LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
YEW TREE CARE LIMITED |
YEW TREE CARE LIMITED (REGISTERED NUMBER: 04283031) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
Page |
Company Information | 1 |
Chartered Accountants' Report | 2 |
Statement of Financial Position | 3 |
Notes to the Financial Statements | 5 |
YEW TREE CARE LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
505 Pinner Road |
Harrow |
Middlesex |
HA2 6EH |
BANKERS: |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
YEW TREE CARE LIMITED |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Yew Tree Care Limited for the year ended 31 March 2023 which comprise the Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of Yew Tree Care Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Yew Tree Care Limited and state those matters that we have agreed to state to the Board of Directors of Yew Tree Care Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Yew Tree Care Limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Yew Tree Care Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Yew Tree Care Limited. You consider that Yew Tree Care Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Yew Tree Care Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Accountants |
505 Pinner Road |
Harrow |
Middlesex |
HA2 6EH |
YEW TREE CARE LIMITED (REGISTERED NUMBER: 04283031) |
STATEMENT OF FINANCIAL POSITION |
31 MARCH 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Revaluation reserve | 12 |
Retained earnings | 12 |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
YEW TREE CARE LIMITED (REGISTERED NUMBER: 04283031) |
STATEMENT OF FINANCIAL POSITION - continued |
31 MARCH 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
YEW TREE CARE LIMITED (REGISTERED NUMBER: 04283031) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
1. | STATUTORY INFORMATION |
Yew Tree Care Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents fees receivable for services provided. Turnover is recognised when the company has a right to consideration. |
Goodwill |
Goodwill arising on an acquisition of a business is carried at cost less accumulated amortisation and impairment losses, if any. All impairment loss for goodwill is recognised directly in profit or loss in the statement of comprehensive income. Goodwill is amortised over 15 years from the date of purchase of the business. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Freehold property | - |
Plant and machinery | - |
Motor vehicles | - |
Computer equipment | - |
Inventories |
Inventories are measured at the lower of cost and selling price less cost to sell. Cost is calculated on a first in, first out basis and includes all costs of purchase, costs of conversion and other costs incurred in bringing the inventories to their present location and condition. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
YEW TREE CARE LIMITED (REGISTERED NUMBER: 04283031) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 April 2022 |
and 31 March 2023 |
AMORTISATION |
At 1 April 2022 |
and 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
YEW TREE CARE LIMITED (REGISTERED NUMBER: 04283031) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
5. | TANGIBLE FIXED ASSETS |
Freehold | Plant and | Motor | Computer |
property | machinery | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST OR VALUATION |
At 1 April 2022 |
Additions |
Revaluations |
At 31 March 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for year |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
Cost or valuation at 31 March 2023 is represented by: |
Freehold | Plant and | Motor | Computer |
property | machinery | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
Valuation in 2014 | 341,178 | - | - | - | 341,178 |
Valuation in 2015 | 150,000 | - | - | - | 150,000 |
Valuation in 2016 | 150,000 | - | - | - | 150,000 |
Valuation in 2018 | 100,000 | - | - | - | 100,000 |
Valuation in 2023 | 429,880 | - | - | - | 429,880 |
Cost | 2,095,895 | 1,180,581 | 49,390 | 13,819 | 3,339,685 |
3,266,953 | 1,180,581 | 49,390 | 13,819 | 4,510,743 |
Freehold land and buildings were valued on an open market basis on 31 March 2023 by the directors . |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Amounts owed by connected companies | 835,935 | 958,935 |
Other debtors |
YEW TREE CARE LIMITED (REGISTERED NUMBER: 04283031) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts (see note 9) |
Other loans (see note 9) |
Trade creditors |
Amounts owed to connected companies | 32,000 | - |
Tax |
Social security and other taxes |
Other creditors |
Wages control | 171,241 | 155,977 |
Directors' current accounts | 442,152 | 225,226 |
Accrued expenses |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans (see note 9) |
Other loans (see note 9) |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 67,163 | 144,239 |
9. | LOANS |
An analysis of the maturity of loans is given below: |
2023 | 2022 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
Other loans |
Amounts falling due between one and two years: |
Bank loans - 1-2 years |
Other loans - 1-2 years | 179,890 |
YEW TREE CARE LIMITED (REGISTERED NUMBER: 04283031) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
9. | LOANS - continued |
2023 | 2022 |
£ | £ |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
Other loans - 2-5 years |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 67,163 | 144,239 |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank loans |
Other loans |
The bank loans are secured by a fixed charge and a debenture over the properties and other assets of the company. The rate of interest varies between 1.25% to 2.60% above the Bank's Base Rate per annum and the loans are repayable over 10 years to 25 years. |
The other loan is secured by a legal charge over one of the properties of the company. The other loan is repayable over five years and the rate of interest is 2.50% per annum. |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary shares | £1 | 10,000 | 10,000 |
YEW TREE CARE LIMITED (REGISTERED NUMBER: 04283031) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
12. | RESERVES |
Retained | Revaluation |
earnings | reserve | Totals |
£ | £ | £ |
At 1 April 2022 | 1,752,859 |
Profit for the year |
Dividends | ( |
) | ( |
) |
Movements during the year | - | 429,880 | 429,880 |
Transfer between reserves | 3,439 | (3,439 | ) | - |
At 31 March 2023 | 2,324,605 |
13. | TRANSACTIONS WITH THE DIRECTORS |
During the year, the company paid dividends of £45,300 (2022: £Nil) to the directors. |
14. | RELATED PARTY DISCLOSURES |
At the year end the company was owed £835,935 (2022: £958,935) by Baggins Holding Limited, a company in which the directors have a beneficial interest. The amount owed is repayable on demand and interest free. |
At the year end the company owed £32,000 (2022: £Nil) to Finbond Limited, a company in which the directors have a beneficial interest. The amount owed is repayable on demand and interest free. |
15. | ULTIMATE CONTROLLING PARTY |
The directors are the ultimate controller as they hold all of the issued share capital of the company. |