Director
|
26 September 2024
|
|
|
|
|
|
|
Director
|
|
for and on behalf of
|
|
Garvey Studios
14 Longstone Street
Lisburn
Co Antrim
BT28 1TP
|
2023 | 2022 | |||
---|---|---|---|---|
Notes | £ | £ | ||
TURNOVER |
|
|
||
GROSS PROFIT |
|
|
||
Administrative expenses |
( |
( |
||
Other operating income |
|
|
||
OPERATING PROFIT | 4 |
|
|
|
Loss on disposal of fixed assets |
( |
|
||
Interest payable and similar charges | 9 |
( |
( |
|
PROFIT BEFORE TAXATION |
|
|
||
Tax on Profit | 10 |
( |
( |
|
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR ATTRIBUTABLE TO THE OWNERS OF THE PARENT |
|
|
||
2023 | 2022 | |||
---|---|---|---|---|
£ | £ | |||
PROFIT FOR THE FINANCIAL YEAR |
|
|
||
OTHER COMPREHENSIVE INCOME: | ||||
Tax expense on components of other comprehensive income |
( |
|
||
TOTAL COMPREHENSIVE INCOME FOR THE YEAR ATTRIBUTABLE TO THE OWNERS OF THE PARENT |
|
|
||
2023 | 2022 | ||||
---|---|---|---|---|---|
Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Tangible Assets | 11 |
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|
||
|
|
||||
CURRENT ASSETS | |||||
Debtors | 13 |
|
|
||
Cash at bank and in hand |
|
|
|||
|
|
||||
Creditors: Amounts Falling Due Within One Year | 14 |
( |
( |
||
NET CURRENT ASSETS (LIABILITIES) |
( |
( |
|||
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
|
|||
Creditors: Amounts Falling Due After More Than One Year | 15 |
( |
( |
||
PROVISIONS FOR LIABILITIES | |||||
Deferred Taxation | 18 |
( |
( |
||
NET ASSETS |
|
|
|||
CAPITAL AND RESERVES | |||||
Called up share capital | 20 |
|
|
||
Share premium account |
|
|
|||
Revaluation reserve | 23 |
|
|
||
Capital redemption reserve |
|
|
|||
Profit and Loss Account |
|
|
|||
SHAREHOLDERS' FUNDS | 3,413,740 | 3,693,664 | |||
Director
|
|
2023 | 2022 | ||||
---|---|---|---|---|---|
Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Tangible Assets | 11 |
|
|
||
Investments | 12 |
|
|
||
|
|
||||
CURRENT ASSETS | |||||
Debtors | 13 |
|
|
||
Cash at bank and in hand |
|
|
|||
|
|
||||
Creditors: Amounts Falling Due Within One Year | 14 |
( |
( |
||
NET CURRENT ASSETS (LIABILITIES) |
( |
( |
|||
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
|
|||
Creditors: Amounts Falling Due After More Than One Year | 15 |
( |
( |
||
PROVISIONS FOR LIABILITIES | |||||
Deferred Taxation | 18 |
( |
( |
||
NET ASSETS |
|
|
|||
CAPITAL AND RESERVES | |||||
Called up share capital | 20 |
|
|
||
Share premium account |
|
|
|||
Revaluation reserve | 23 |
|
|
||
Capital redemption reserve |
|
|
|||
Profit and Loss Account |
|
|
|||
SHAREHOLDERS' FUNDS | 3,441,539 | 3,700,387 | |||
Director
|
|
Share Capital | Share Premium | Revaluation reserve | Capital Redemption | |
---|---|---|---|---|
£ | £ | £ | £ | |
As at 1 January 2022 |
|
|
|
|
Profit for the year and total comprehensive income | - | - | - | - |
Dividends paid | - | - | - | - |
Purchase of own shares |
( |
|
|
|
Share capital reduction |
|
|
|
|
Transfer from revaluation reserve | - | - | - | - |
Transfer to/from Profit & Loss Account | - | - |
( |
|
As at 31 December 2022 and 1 January 2023 |
|
|
|
|
Profit for year | - | - | - | - |
Deficit on revaluation | - | - | (180,371) | - |
Other comprehensive income for the year | - | - |
( |
- |
Total comprehensive income for the year | - | - | (180,371) | - |
Dividends paid | - | - | - | - |
Transfer from revaluation reserve | - | - | - | - |
Transfer to/from Profit & Loss Account | - | - |
( |
|
As at 31 December 2023 |
|
|
|
|
Profit and Loss Account | Total | |
---|---|---|
£ | £ | |
As at 1 January 2022 |
|
3,761,105 |
Profit for the year and total comprehensive income |
|
329,670 |
Dividends paid | (378,444) | (378,444) |
Purchase of own shares |
( |
(264) |
Share capital reduction | (18,403) | (18,403) |
Transfer from revaluation reserve | 9,258 | 9,258 |
Transfer to/from Profit & Loss Account | - | (9,258) |
As at 31 December 2022 and 1 January 2023 |
|
3,693,664 |
Profit for year | 212,969 |
|
Deficit on revaluation | - | (180,371) |
Other comprehensive income for the year |
|
( |
Total comprehensive income for the year |
|
32,598 |
Dividends paid | (312,522) | (312,522) |
Transfer from revaluation reserve | 8,648 | 8,648 |
Transfer to/from Profit & Loss Account | - | (8,648) |
As at 31 December 2023 |
|
3,413,740 |
Share Capital | Share Premium | Revaluation reserve | Capital Redemption | |
---|---|---|---|---|
£ | £ | £ | £ | |
As at 1 January 2022 |
|
|
|
|
Profit for the year and total comprehensive income | - | - | - | - |
Dividends paid | - | - | - | - |
Purchase of own shares |
( |
|
|
|
Share capital reduction |
|
|
|
|
Transfer from revaluation reserve | - | - | - | - |
Transfer to/from Profit & Loss Account | - | - |
( |
|
As at 31 December 2022 and 1 January 2023 |
|
|
|
|
Profit for year | - | - | - | - |
Deficit on revaluation | - | - | (142,529) | - |
Other comprehensive income for the year | - | - |
( |
- |
Total comprehensive income for the year | - | - | (142,529) | - |
Dividends paid | - | - | - | - |
Transfer from revaluation reserve | - | - | - | - |
Transfer to/from Profit & Loss Account | - | - |
( |
|
As at 31 December 2023 |
|
|
|
|
Profit and Loss Account | Total | |
---|---|---|
£ | £ | |
As at 1 January 2022 |
|
3,783,699 |
Profit for the year and total comprehensive income |
|
313,799 |
Dividends paid | (378,444) | (378,444) |
Purchase of own shares |
( |
(264) |
Share capital reduction | (18,403) | (18,403) |
Transfer from revaluation reserve | 9,258 | 9,258 |
Transfer to/from Profit & Loss Account | - | (9,258) |
As at 31 December 2022 and 1 January 2023 |
|
3,700,387 |
Profit for year | 196,203 |
|
Deficit on revaluation | - | (142,529) |
Other comprehensive income for the year |
|
( |
Total comprehensive income for the year |
|
53,674 |
Dividends paid | (312,522) | (312,522) |
Transfer from revaluation reserve | 8,648 | 8,648 |
Transfer to/from Profit & Loss Account | - | (8,648) |
As at 31 December 2023 |
|
3,441,539 |
2023 | 2022 | |||
---|---|---|---|---|
Notes | £ | £ | ||
Cash flows from operating activities | ||||
Net cash generated from operations | 1 |
|
|
|
Interest paid |
( |
( |
||
Tax paid |
( |
( |
||
Net cash generated from operating activities |
|
|
||
Cash flows from investing activities | ||||
Purchase of tangible assets |
( |
( |
||
Grants received |
|
|
||
Net cash (used in)/generated from investing activities |
( |
|
||
Cash flows from financing activities | ||||
Purchase/redemption of own shares |
|
( |
||
Equity dividends paid |
( |
( |
||
Repayment of bank borrowings |
( |
( |
||
Repayment of finance leases |
( |
( |
||
Amount introduced by directors | 342,522 | 378,444 | ||
Amount withdrawn by directors | (370,017) | (379,915) | ||
Net cash used in financing activities |
( |
( |
||
Decrease in cash and cash equivalents |
( |
( |
||
Cash and cash equivalents at beginning of year | 2 |
( |
|
|
Cash and cash equivalents at end of year | 2 |
( |
( |
|
2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Profit for the financial year |
|
|
|
Adjustments for: | |||
Tax on profit |
|
|
|
Interest expense |
|
|
|
Depreciation of tangible assets |
|
|
|
Loss on disposal of tangible assets | 1,257 | - | |
Grant income | (5,161) | (117,720) | |
Movements in working capital: | |||
Decrease/(increase) in trade and other debtors |
|
( |
|
Increase in trade and other creditors |
|
|
|
Net cash generated from operations |
|
|
|
2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Cash at bank and in hand |
|
|
|
Overdraft facilities repayable on demand |
( |
( |
|
Cash and cash equivalents as stated in the Statement of Cash Flows | (328,859) | (238,031) | |
As at 1 January 2023 | Cash flows | As at 31 December 2023 | |
---|---|---|---|
£ | £ | £ | |
Cash at bank and in hand |
|
(28,098) |
|
Overdraft facilities repayable on demand | (951,776) | (62,730) | (1,014,506) |
Cash and cash equivalents |
( |
(90,828) |
( |
Finance leases | (12,173) | 2,919 | (9,254) |
Debts falling due within one year |
( |
31,083 |
( |
Debts falling due after more than one year | (173,555) | 141,932 | (31,623) |
(596,774) | 85,106 | (511,668) | |
2023 | 2022 | |||
---|---|---|---|---|
Notes | £ | £ | ||
Cash flows from operating activities | ||||
Net cash generated from operations | 1 |
|
|
|
Interest paid |
( |
( |
||
Tax paid |
( |
( |
||
Net cash generated from operating activities |
|
|
||
Cash flows from investing activities | ||||
Purchase of tangible assets |
( |
( |
||
Grants received |
|
|
||
Net cash (used in)/generated from investing activities |
( |
|
||
Cash flows from financing activities | ||||
Purchase/redemption of own shares |
|
( |
||
Equity dividends paid |
( |
( |
||
Repayment of bank borrowings |
( |
( |
||
Repayment of finance leases |
( |
( |
||
Amount introduced by directors | 312,522 | 378,444 | ||
Amount withdrawn by directors | (340,017) | (379,915) | ||
Net cash used in financing activities |
( |
( |
||
Decrease in cash and cash equivalents |
( |
( |
||
Cash and cash equivalents at beginning of year | 2 |
( |
|
|
Cash and cash equivalents at end of year | 2 |
( |
( |
|
2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Profit for the financial year |
|
|
|
Adjustments for: | |||
Tax on profit |
|
|
|
Interest expense |
|
|
|
Depreciation of tangible assets |
|
|
|
Loss on disposal of tangible assets | 1,257 | - | |
Grant income | (5,161) | (117,720) | |
Movements in working capital: | |||
Decrease/(increase) in trade and other debtors |
|
( |
|
Increase in trade and other creditors |
|
|
|
Net cash generated from operations |
|
|
|
2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Cash at bank and in hand |
|
|
|
Overdraft facilities repayable on demand |
( |
( |
|
Cash and cash equivalents as stated in the Statement of Cash Flows | (408,078) | (293,415) | |
As at 1 January 2023 | Cash flows | As at 31 December 2023 | |
---|---|---|---|
£ | £ | £ | |
Cash at bank and in hand |
|
(51,933) |
|
Overdraft facilities repayable on demand | (951,776) | (62,730) | (1,014,506) |
Cash and cash equivalents |
( |
(114,663) |
( |
Finance leases | (12,173) | 2,919 | (9,254) |
Debts falling due within one year |
( |
31,083 |
( |
Debts falling due after more than one year | (173,555) | 141,932 | (31,623) |
(652,158) | 61,271 | (590,887) | |
Freehold |
|
Plant & Machinery |
|
Motor Vehicles |
|
Fixtures & Fittings |
|
Computer Equipment |
|
2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Grant income |
|
|
|
Rental income |
|
|
|
33,261 | 145,320 | ||
2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Depreciation of tangible fixed assets |
|
|
|
2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Audit Services | |||
Audit of the company's financial statements |
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|
|
Group | Company | ||||||
---|---|---|---|---|---|---|---|
2023 | 2022 | 2023 | 2022 | ||||
£ | £ | £ | £ | ||||
Wages and salaries |
|
|
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|||
Social security costs |
|
|
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|
|||
Other pension costs |
|
|
|
|
|||
|
|
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|
||||
2023 | 2022 | ||
---|---|---|---|
Employees |
|
|
|
Directors |
|
|
|
|
|
||
2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Emoluments |
|
|
|
2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Bank loans and overdrafts |
|
|
|
Interest payable on other loans |
|
|
|
Finance charges payable under finance leases and hire purchase contracts | 1,085 | 1,085 | |
Other finance charges |
|
|
|
21,017 | 28,755 | ||
The tax charge on the profit for the year was as follows:
|
|||||
Tax Rate | 2023 | 2022 | |||
---|---|---|---|---|---|
2023 | 2022 | £ | £ | ||
Current tax | |||||
UK Corporation Tax | 25.0% | 19.0% |
|
|
|
Deferred Tax | |||||
Deferred taxation |
|
|
|||
Total tax charge for the period |
|
|
|||
The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
|
|||||
2023 | 2022 | ||||
£ | £ | ||||
Profit before tax | 311,161 | 410,662 | |||
Tax on profit at 25% (UK standard rate) |
|
|
|||
Expenses not deductible for tax purposes |
|
|
|||
Capital allowances |
|
|
|||
Prior period adjustment |
( |
|
|||
Difference in tax rates |
|
|
|||
Total tax charge for the period | 98,192 | 80,992 | |||
Land & Property | ||||
---|---|---|---|---|
Freehold | Plant & Machinery | Motor Vehicles | Fixtures & Fittings | |
£ | £ | £ | £ | |
Cost | ||||
As at 1 January 2023 |
|
|
|
|
Additions |
|
|
|
|
Disposals |
|
( |
|
( |
As at 31 December 2023 |
|
|
|
|
Depreciation | ||||
As at 1 January 2023 |
|
|
|
|
Provided during the period |
|
|
|
|
Disposals |
|
( |
|
( |
As at 31 December 2023 |
|
|
|
|
Net Book Value | ||||
As at 31 December 2023 |
|
|
|
|
As at 1 January 2023 |
|
|
|
|
Computer Equipment | Total | |
---|---|---|
£ | £ | |
Cost | ||
As at 1 January 2023 |
|
|
Additions |
|
|
Disposals |
( |
( |
As at 31 December 2023 |
|
|
Depreciation | ||
As at 1 January 2023 |
|
|
Provided during the period |
|
|
Disposals |
( |
( |
As at 31 December 2023 |
|
|
Net Book Value | ||
As at 31 December 2023 |
|
|
As at 1 January 2023 |
|
|
Land & Property | ||||
---|---|---|---|---|
Freehold | Plant & Machinery | Motor Vehicles | Fixtures & Fittings | |
£ | £ | £ | £ | |
At cost | 4,890,541 | 107,830 | 37,893 | 2,284,589 |
At valuation | 1,148,732 | - | - | - |
6,039,273 | 107,830 | 37,893 | 2,284,589 | |
Computer Equipment | Total | |
---|---|---|
£ | £ | |
At cost | 13,215 | 7,334,068 |
At valuation | - | 1,148,732 |
13,215 | 8,482,800 | |
Land & Property | ||||
---|---|---|---|---|
Freehold | Plant & Machinery | Motor Vehicles | Fixtures & Fittings | |
£ | £ | £ | £ | |
Cost | ||||
As at 1 January 2023 |
|
|
|
|
Additions |
|
|
|
|
Disposals |
|
( |
|
( |
As at 31 December 2023 |
|
|
|
|
Depreciation | ||||
As at 1 January 2023 |
|
|
|
|
Provided during the period |
|
|
|
|
Disposals |
|
( |
|
( |
As at 31 December 2023 |
|
|
|
|
Net Book Value | ||||
As at 31 December 2023 |
|
|
|
|
As at 1 January 2023 |
|
|
|
|
Computer Equipment | Total | |
---|---|---|
£ | £ | |
Cost | ||
As at 1 January 2023 |
|
|
Additions |
|
|
Disposals |
( |
( |
As at 31 December 2023 |
|
|
Depreciation | ||
As at 1 January 2023 |
|
|
Provided during the period |
|
|
Disposals |
( |
( |
As at 31 December 2023 |
|
|
Net Book Value | ||
As at 31 December 2023 |
|
|
As at 1 January 2023 |
|
|
Land & Property | ||||
---|---|---|---|---|
Freehold | Plant & Machinery | Motor Vehicles | Fixtures & Fittings | |
£ | £ | £ | £ | |
At cost | 4,497,462 | 107,830 | 37,893 | 2,189,275 |
At valuation | 1,301,811 | - | - | - |
5,799,273 | 107,830 | 37,893 | 2,189,275 | |
Computer Equipment | Total | |
---|---|---|
£ | £ | |
At cost | 13,215 | 6,845,675 |
At valuation | - | 1,301,811 |
13,215 | 8,147,486 | |
Unlisted | |
---|---|
£ | |
Cost | |
As at 1 January 2023 |
|
Revaluations |
|
As at 31 December 2023 |
|
Provision | |
As at 1 January 2023 |
|
As at 31 December 2023 |
|
Net Book Value | |
As at 31 December 2023 |
|
As at 1 January 2023 |
|
Shares in Group Undertakings
£
|
Unlisted investments
£
|
Totals
£
|
|
Valuation in 2017
|
(100)
|
(147,639)
|
(147,739)
|
Valuation in 2023
|
-
|
50,456
|
50,456
|
Cost
|
100
|
290,372
|
290,472
|
-
|
193,189
|
193,189
|
Name of undertaking | Registered Office | Class of shares held | Direct holding | Indirect holding |
---|---|---|---|---|
|
49 Station Road, Polegate, East Sussex, BN26 6EA |
|
|
- |
|
41 Lisburn Road, Ballynahinch, Co Down, BT24 8TT |
|
|
- |
Capital and Reserves | Profit/(loss) | |
---|---|---|
£ | £ | |
The Beeches Property Limited |
|
|
The Beeches Catering Services Ltd |
( |
|
Group | Company | ||||||
---|---|---|---|---|---|---|---|
2023 | 2022 | 2023 | 2022 | ||||
£ | £ | £ | £ | ||||
Due within one year | |||||||
Trade debtors |
|
|
|
|
|||
Amounts owed by group undertakings | - | - | 116,982 | 116,982 | |||
Other debtors | 392,409 | 409,191 | 392,409 | 409,114 | |||
|
|
|
|
||||
Group | Company | ||||||
---|---|---|---|---|---|---|---|
2023 | 2022 | 2023 | 2022 | ||||
£ | £ | £ | £ | ||||
Net obligations under finance lease and hire purchase contracts |
|
|
|
|
|||
Trade creditors |
|
|
|
|
|||
Bank loans and overdrafts |
|
|
|
|
|||
Other creditors | 856,525 | 929,211 | 812,397 | 885,083 | |||
Corporation tax |
|
|
|
|
|||
Taxation and social security | 425 | - | - | - | |||
Accruals and deferred income |
|
|
|
|
|||
|
|
|
|
||||
Group | Company | ||||||
---|---|---|---|---|---|---|---|
2023 | 2022 | 2023 | 2022 | ||||
£ | £ | £ | £ | ||||
Net obligations under finance lease and hire purchase contracts |
|
|
|
|
|||
Bank loans |
|
|
|
|
|||
|
|
|
|
||||
Group | Company | ||||||
---|---|---|---|---|---|---|---|
2023 | 2022 | 2023 | 2022 | ||||
£ | £ | £ | £ | ||||
Bank loans and overdrafts | 1,188,061 | 1,298,346 | 1,188,061 | 1,298,346 |
Group | Company | ||||||
---|---|---|---|---|---|---|---|
2023 | 2022 | 2023 | 2022 | ||||
£ | £ | £ | £ | ||||
Amounts falling due within one year or on demand: | |||||||
Bank loans |
|
|
|
|
|||
Group | Company | ||||||
---|---|---|---|---|---|---|---|
2023 | 2022 | 2023 | 2022 | ||||
£ | £ | £ | £ | ||||
Amounts falling due between one and five years: | |||||||
Bank loans |
|
|
|
|
|||
Group | Company | ||||||
---|---|---|---|---|---|---|---|
2023 | 2022 | 2023 | 2022 | ||||
£ | £ | £ | £ | ||||
The future minimum finance lease payments are as follows: | |||||||
Not later than one year |
|
|
|
|
|||
Later than one year and not later than five years |
|
|
|
|
|||
|
|
|
|
||||
|
|
|
|
||||
Deferred Tax
£
|
|
Balance at 1 January 2023
|
466,367
|
Effect of tax rate change on revaluation reserve
|
180,371
|
Accelerated capital allowances
|
22,694
|
Other timing differences
|
(2,883)
|
Balance at 31 December 2023
|
666,549
|
Deferred Tax
£
|
|
Balance at 1 January 2023
|
462,172
|
Effect of tax rate change on revaluation reserve
|
180,371
|
Accelerated capital allowances
|
23,324
|
Revaluation of investment
|
12,614
|
Other timing differences
|
(2,883)
|
Balance at 31 December 2023
|
675,598
|
Group | Company | ||||||
---|---|---|---|---|---|---|---|
2023 | 2022 | 2023 | 2022 | ||||
£ | £ | £ | £ | ||||
Accelerated capital allowances |
|
|
|
|
|||
Other timing differences | 603,784 | 426,296 | 616,398 | 426,296 | |||
|
|
|
|
||||
Group | ||
---|---|---|
Deferred Tax | Total | |
£ | £ | |
As at 1 January 2023 |
|
466,367 |
Additions |
|
200,182 |
Balance at 31 December 2023 |
|
666,549 |
Company | ||
---|---|---|
Deferred Tax | Total | |
£ | £ | |
As at 1 January 2023 |
|
462,172 |
Additions |
|
213,426 |
Balance at 31 December 2023 |
|
675,598 |
2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
On equity shares: | |||
Interim dividend paid |
|
|
|
Revaluation Reserve | |
---|---|
£ | |
As at 1 January 2023 |
|
Deficit on revaluation | (180,371) |
Transfer to profit and loss |
( |
As at 31 December 2023 |
|
Revaluation Reserve | |
---|---|
£ | |
As at 1 January 2023 |
|
Deficit on revaluation | (142,529) |
Transfer to profit and loss |
( |
As at 31 December 2023 |
|
Management Charges & Rent Paid to The Beeches Professional & Therapeutic Services Ltd
£
|
Purchases Paid by The Beeches Professional & Therapeutic Services Ltd
£
|
Trade Balances Due to The Beeches Professional & Therapeutic Services Ltd
£
|
Loan Balances Due to The Beeches Professional & Therapeutic Services Ltd
£
|
|
Transactions with Group Companies
|
Nil
|
Nil
|
Nil
|
116,982
|
Transactions with Other Related Parties
|
39,499
|
Nil
|
7,874
|
336,250
|