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Registered number: NI028742
The Beeches Professional And Therapeutic Services Limited
Strategic Report, Directors' Report and
Financial Statements
For The Year Ended 31 December 2023
McCleary & Company Ltd.
Contents
Page
Strategic Report 1
Directors' Report 2—3
Independent Auditor's Report 4—6
Consolidated Profit and Loss Account 7
Consolidated Statement of Comprehensive Income 8
Consolidated Balance Sheet 9—10
Company Balance Sheet 11—12
Consolidated Statement of Changes in Equity 13
Company Statement of Changes in Equity 14
Consolidated Statement of Cash Flows 15
Notes to the Consolidated Statement of Cash Flows 16
Company Statement of Cash Flows 17
Notes to the Company Statement of Cash Flows 18
Notes to the Financial Statements 19—29
Page 1
Strategic Report
The directors present their strategic report for the year ended 31 December 2023.
Review of the Business
The Company provides nursing home facilities, nurse led clinical care and specialised support of adults with a learning disability who have complex medical and physical needs. It has two nursing homes, one in Aghalee and one in Ballynahinch, which generates the vast majority of its income and profit.  The Company also provides day care facilities for babies and primary school children at their day nursery which is based in Aghalee.  The Beeches Property Limited and The Beeches Catering Limited which are subsidiaries of the company are only in receipt of rental income.
The turnover during the year increased by 9.5%, whilst the running costs increased by 9.9% causing a decrease in the operating profit from £439,417 for the year ended 31 December 2022 to £333,435 for the current year.  The Group Balance Sheet remains strong with Total Capital and Reserves of £3,401,126. Going forward, the Directors appreciate the economic position and are continuously looking at opportunities to increase income whether it is through increasing prices, capacity or additional services.  They are also reviewing costs and are aware of the effects on profitability from future changes in the economy and legislation.
Principal Risks and Uncertainties
The Company does not anticipate any significant change to the business risks of the Company.  Increasing pricing continues to be difficult and the increase in the minimum wage will continue to have an effect on profitability. The directors are aware of these issues and continue to look at improving revenue streams and managing costs without affecting services to their customers.
Future Outlook
The business environment is expected to remain competitive in 2024/25, however we remain confident that we will maintain our current level of performance in the future.  
Key Performance Indicators
Given the straightforward nature of the business, the Company's Directors are of the opinion that analysis using KPIs is not necessary for an understanding of the development, performance or position of the business.  
On behalf of the board
Mr James Brian Wilson
Director
26 September 2024
Page 1
Page 2
Directors' Report
The directors present their report and the financial statements for the year ended 31 December 2023.
Principal Activity
The group's principal activity continues to be the provision of nursing home facilities and care for adults with learning disabilities.
Dividends
The value of dividends paid amounted to £312,522 .
The directors recommended a final dividend of £NIL .
Directors
The directors who held office during the year were as follows:
Mr James Patrick Francis Wilson
Mr James Brian Wilson
Mr Jonathan Wilson
Mrs Aileen Wilson
Mr Jeffrey Wilson
Mrs Joan C Wilson
Statement of Directors' Responsibilities
The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing the financial statements the directors are required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company and group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Statement of Disclosure of Information to Auditors
In the case of each director in office at the date the Directors' Report is approved: 
  • so far as the director is aware, there is no relevant audit information of which the company and group's auditors are unaware; and
  • they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company and group's auditors are aware of that information.
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Independent Auditors
The auditors, McCleary & Company Ltd, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.
On behalf of the board
Mr James Brian Wilson
Director
26 September 2024
Page 3
Page 4
Independent Auditor's Report
Opinion
We have audited the financial statements of The Beeches Professional And Therapeutic Services Limited (the "parent company") and its subsidiaries (the "group") for the year ended 31 December 2023 which comprise the Consolidated Profit and Loss Account, Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes of Equity, Company Statement of Changes of Equity, Consolidated Cash Flow Statement, Company Cash Flow Statement and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
In our opinion the financial statements:
  • give a true and fair view of the state of the group's and of the parent company's affairs as at 31 December 2023 and of the group's profit/(loss) for the year then ended;
  • have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
  • have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for Opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions Relating to Going Concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group and parent company's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other Information
The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on Other Matters Prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
  • the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
  • the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.
Page 4
Page 5
Matters on Which We Are Required to Report by Exception
In the light of the knowledge and understanding of the group and parent company and their environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
  • adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
  • the parent company financial statements are not in agreement with the accounting records or returns; or
  • certain disclosures of directors' remuneration specified by law are not made; or
  • we have not received all the information and explanations we require for our audit.
Responsibilities of Directors
As explained more fully in the Directors' Responsibilities Statement set out on page 2—3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the group and parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.
Auditor's Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 
Having considered the nature of the business and the sector in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to breaches of health and safety laws.  We considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that do not have a direct impact on the preparation of the financial statements but compliance with which may be fundamental to the Company's ability to operate such as the Companies Act 2006.  We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls).  Audit procedures performed included:
-Assessment of compliance with key laws and regulations;
-Identifying and testing journal entries for appropriateness, evaluating the rationale for significant transactions outside what is normal for the company and assessing whether the judgments made in making accounting estimates are indicative of potential bias, in order to assess the risk of fraud through management override of controls;
-Analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
-Reviewing assumptions and judgments made by management in significant accounting estimates;
-Reviewing the disclosures in the financial statements against the specific legal requirements.
We communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
There are inherent limitations in the audit procedures outlined above.  We are less likely to become aware of instances with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Use Of Our Report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters that we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Page 5
Page 6
John McCleary FCA (Senior Statutory Auditor)
for and on behalf of McCleary & Company Ltd , Statutory Auditor
26 September 2024
McCleary & Company Ltd
Garvey Studios
14 Longstone Street
Lisburn
Co Antrim
BT28 1TP
Page 6
Page 7
Consolidated Profit and Loss Account
2023 2022
Notes £ £
TURNOVER 6,270,379 5,727,065
GROSS PROFIT 6,270,379 5,727,065
Administrative expenses (5,970,205 ) (5,432,968 )
Other operating income 33,261 145,320
OPERATING PROFIT 4 333,435 439,417
Loss on disposal of fixed assets (1,257 ) -
Interest payable and similar charges 9 (21,017 ) (28,755 )
PROFIT BEFORE TAXATION 311,161 410,662
Tax on Profit 10 (98,192 ) (80,992 )
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR ATTRIBUTABLE TO THE OWNERS OF THE PARENT 212,969 329,670
The notes on pages 16 to 29 form part of these financial statements.
Page 7
Page 8
Consolidated Statement of Comprehensive Income
2023 2022
£ £
PROFIT FOR THE FINANCIAL YEAR 212,969 329,670
OTHER COMPREHENSIVE INCOME:
Tax expense on components of other comprehensive income (180,371 ) -
TOTAL COMPREHENSIVE INCOME FOR THE YEAR ATTRIBUTABLE TO THE OWNERS OF THE PARENT 32,598 329,670
Page 8
Page 9
Consolidated Balance Sheet
Registered number: NI028742
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 11 5,404,594 5,470,328
5,404,594 5,470,328
CURRENT ASSETS
Debtors 13 504,039 582,744
Cash at bank and in hand 685,647 713,745
1,189,686 1,296,489
Creditors: Amounts Falling Due Within One Year 14 (2,476,033 ) (2,423,977 )
NET CURRENT ASSETS (LIABILITIES) (1,286,347 ) (1,127,488 )
TOTAL ASSETS LESS CURRENT LIABILITIES 4,118,247 4,342,840
Creditors: Amounts Falling Due After More Than One Year 15 (37,958 ) (182,809 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 18 (666,549 ) (466,367 )
NET ASSETS 3,413,740 3,693,664
CAPITAL AND RESERVES
Called up share capital 20 518,500 518,500
Share premium account 44,727 44,727
Revaluation reserve 23 1,959,085 2,148,104
Capital redemption reserve 5,262 5,262
Profit and Loss Account 886,166 977,071
SHAREHOLDERS' FUNDS 3,413,740 3,693,664
Page 9
Page 10
On behalf of the board
Mr James Brian Wilson
Director
26 September 2024
The notes on pages 16 to 29 form part of these financial statements.
Page 10
Page 11
Company Balance Sheet
Registered number: NI028742
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 11 5,157,029 5,217,851
Investments 12 193,189 142,733
5,350,218 5,360,584
CURRENT ASSETS
Debtors 13 621,021 699,649
Cash at bank and in hand 606,428 658,361
1,227,449 1,358,010
Creditors: Amounts Falling Due Within One Year 14 (2,422,572 ) (2,373,226 )
NET CURRENT ASSETS (LIABILITIES) (1,195,123 ) (1,015,216 )
TOTAL ASSETS LESS CURRENT LIABILITIES 4,155,095 4,345,368
Creditors: Amounts Falling Due After More Than One Year 15 (37,958 ) (182,809 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 18 (675,598 ) (462,172 )
NET ASSETS 3,441,539 3,700,387
CAPITAL AND RESERVES
Called up share capital 20 518,500 518,500
Share premium account 44,727 44,727
Revaluation reserve 23 1,849,188 2,000,365
Capital redemption reserve 5,262 5,262
Profit and Loss Account 1,023,862 1,131,533
SHAREHOLDERS' FUNDS 3,441,539 3,700,387
Page 11
Page 12
In accordance with section 408(3) of the Companies Act 2006, the company has not presented its own profit and loss account and the related notes. The company's profit for the year was £ 196,203 (2022: £ 313,799 profit).
On behalf of the board
Mr James Brian Wilson
Director
26 September 2024
The notes on pages 16 to 29 form part of these financial statements.
Page 12
Page 13
Consolidated Statement of Changes in Equity
Share Capital Share Premium Revaluation reserve Capital Redemption
£ £ £ £
As at 1 January 2022 518,764 44,727 2,157,362 4,998
Profit for the year and total comprehensive income - - - -
Dividends paid - - - -
Purchase of own shares (264 ) - - 264
Share capital reduction - - - -
Transfer from revaluation reserve - - - -
Transfer to/from Profit & Loss Account - - (9,258 ) -
As at 31 December 2022 and 1 January 2023 518,500 44,727 2,148,104 5,262
Profit for year - - - -
Deficit on revaluation - - (180,371) -
Other comprehensive income for the year - - (180,371 ) -
Total comprehensive income for the year - - (180,371) -
Dividends paid - - - -
Transfer from revaluation reserve - - - -
Transfer to/from Profit & Loss Account - - (8,648 ) -
As at 31 December 2023 518,500 44,727 1,959,085 5,262
Profit and Loss Account Total
£ £
As at 1 January 2022 1,035,254 3,761,105
Profit for the year and total comprehensive income 329,670 329,670
Dividends paid (378,444) (378,444)
Purchase of own shares (264 ) (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 977,071 3,693,664
Profit for year 212,969 212,969
Deficit on revaluation - (180,371)
Other comprehensive income for the year - (180,371 )
Total comprehensive income for the year 212,969 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 886,166 3,413,740
Page 13
Page 14
Company Statement of Changes in Equity
Share Capital Share Premium Revaluation reserve Capital Redemption
£ £ £ £
As at 1 January 2022 518,764 44,727 2,009,623 4,998
Profit for the year and total comprehensive income - - - -
Dividends paid - - - -
Purchase of own shares (264 ) - - 264
Share capital reduction - - - -
Transfer from revaluation reserve - - - -
Transfer to/from Profit & Loss Account - - (9,258 ) -
As at 31 December 2022 and 1 January 2023 518,500 44,727 2,000,365 5,262
Profit for year - - - -
Deficit on revaluation - - (142,529) -
Other comprehensive income for the year - - (142,529 ) -
Total comprehensive income for the year - - (142,529) -
Dividends paid - - - -
Transfer from revaluation reserve - - - -
Transfer to/from Profit & Loss Account - - (8,648 ) -
As at 31 December 2023 518,500 44,727 1,849,188 5,262
Profit and Loss Account Total
£ £
As at 1 January 2022 1,205,587 3,783,699
Profit for the year and total comprehensive income 313,799 313,799
Dividends paid (378,444) (378,444)
Purchase of own shares (264 ) (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 1,131,533 3,700,387
Profit for year 196,203 196,203
Deficit on revaluation - (142,529)
Other comprehensive income for the year - (142,529 )
Total comprehensive income for the year 196,203 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 1,023,862 3,441,539
Page 14
Page 15
Consolidated Statement of Cash Flows
2023 2022
Notes £ £
Cash flows from operating activities
Net cash generated from operations 1 647,071 464,973
Interest paid (21,017 ) (28,755 )
Tax paid (77,369 ) (168,526 )
Net cash generated from operating activities 548,685 267,692
Cash flows from investing activities
Purchase of tangible assets (128,722 ) (114,897 )
Grants received 5,160 117,720
Net cash (used in)/generated from investing activities (123,562 ) 2,823
Cash flows from financing activities
Purchase/redemption of own shares - (18,667 )
Equity dividends paid (312,522 ) (378,444 )
Repayment of bank borrowings (173,015 ) (165,325 )
Repayment of finance leases (2,919 ) (2,919 )
Amount introduced by directors 342,522 378,444
Amount withdrawn by directors (370,017) (379,915)
Net cash used in financing activities (515,951 ) (566,826 )
Decrease in cash and cash equivalents (90,828 ) (296,311 )
Cash and cash equivalents at beginning of year 2 (238,031 ) 58,280
Cash and cash equivalents at end of year 2 (328,859 ) (238,031 )
Page 15
Page 16
Notes to the Consolidated Statement of Cash Flows
1. Reconciliation of profit for the financial year to cash generated from operations
2023 2022
£ £
Profit for the financial year 212,969 329,670
Adjustments for:
Tax on profit 98,192 80,992
Interest expense 21,017 28,755
Depreciation of tangible assets 193,200 181,433
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 78,705 (65,070 )
Increase in trade and other creditors 46,892 26,913
Net cash generated from operations 647,071 464,973
2. Cash and cash equivalents
Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:
2023 2022
£ £
Cash at bank and in hand 685,647 713,745
Overdraft facilities repayable on demand (1,014,506 ) (951,776 )
Cash and cash equivalents as stated in the Statement of Cash Flows (328,859) (238,031)
3. Analysis of changes in net debt
As at 1 January 2023 Cash flows As at 31 December 2023
£ £ £
Cash at bank and in hand 713,745 (28,098) 685,647
Overdraft facilities repayable on demand (951,776) (62,730) (1,014,506)
Cash and cash equivalents (238,031 ) (90,828) (328,859 )
Finance leases (12,173) 2,919 (9,254)
Debts falling due within one year (173,015 ) 31,083 (141,932 )
Debts falling due after more than one year (173,555) 141,932 (31,623)
(596,774) 85,106 (511,668)
Page 16
Page 17
Company Statement of Cash Flows
2023 2022
Notes £ £
Cash flows from operating activities
Net cash generated from operations 1 620,476 440,980
Interest paid (20,831 ) (28,755 )
Tax paid (74,795 ) (165,299 )
Net cash generated from operating activities 524,850 246,926
Cash flows from investing activities
Purchase of tangible assets (128,723 ) (114,897 )
Grants received 5,161 117,720
Net cash (used in)/generated from investing activities (123,562 ) 2,823
Cash flows from financing activities
Purchase/redemption of own shares - (18,667 )
Equity dividends paid (312,522 ) (378,444 )
Repayment of bank borrowings (173,015 ) (165,325 )
Repayment of finance leases (2,919 ) (2,919 )
Amount introduced by directors 312,522 378,444
Amount withdrawn by directors (340,017) (379,915)
Net cash used in financing activities (515,951 ) (566,826 )
Decrease in cash and cash equivalents (114,663 ) (317,077 )
Cash and cash equivalents at beginning of year 2 (293,415 ) 23,662
Cash and cash equivalents at end of year 2 (408,078 ) (293,415 )
Page 17
Page 18
Notes to the Company Statement of Cash Flows
1. Reconciliation of profit for the financial year to cash generated from operations
2023 2022
£ £
Profit for the financial year 196,203 313,799
Adjustments for:
Tax on profit 94,045 76,689
Interest expense 20,831 28,755
Depreciation of tangible assets 188,288 175,937
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 78,628 (65,498 )
Increase in trade and other creditors 46,385 29,018
Net cash generated from operations 620,476 440,980
2. Cash and cash equivalents
Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:
2023 2022
£ £
Cash at bank and in hand 606,428 658,361
Overdraft facilities repayable on demand (1,014,506 ) (951,776 )
Cash and cash equivalents as stated in the Statement of Cash Flows (408,078) (293,415)
3. Analysis of changes in net debt
As at 1 January 2023 Cash flows As at 31 December 2023
£ £ £
Cash at bank and in hand 658,361 (51,933) 606,428
Overdraft facilities repayable on demand (951,776) (62,730) (1,014,506)
Cash and cash equivalents (293,415 ) (114,663) (408,078 )
Finance leases (12,173) 2,919 (9,254)
Debts falling due within one year (173,015 ) 31,083 (141,932 )
Debts falling due after more than one year (173,555) 141,932 (31,623)
(652,158) 61,271 (590,887)
Page 18
Page 19
Notes to the Financial Statements
1. General Information
The Beeches Professional And Therapeutic Services Limited is a private company, limited by shares, incorporated in Northern Ireland, registered number NI028742 . The registered office is 9/11 Lurgan Road, Aghalee, Craigavon, Co Armagh, BT67 0DD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006.
2.2. Basis Of Consolidation
The group consolidated financial statements include the financial statements of the company and all of its subsidiary undertakings together with the group’s share of the results of associates made up to 31 December 2023.
A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. Where the group owns less than 50% of the voting powers of an entity but controls the entity by virtue of an agreement with other investors which give it control of the financial and operating policies of the entity, it accounts for that entity as a subsidiary.
Where a subsidiary has different accounting policies to the group, adjustments are made to those subsidiary financial statements to apply the group’s accounting policies when preparing the consolidated financial statements.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the group holds a long-term interest and where the group has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate. The results of associates are accounted for using the equity method of accounting.
Any subsidiary undertakings or associates sold or acquired during the year are included up to, or from, the dates of change of control or change of significant influence respectively.
Where control of a subsidiary is lost, the gain or loss is recognised in the consolidated income statement. The cumulative amounts of any exchange differences on translation, recognised in equity, are not included in the gain or loss on disposal and are transferred to retained earnings. The gain or loss also includes amounts included in other comprehensive income that are required to be reclassified to profit or loss but excludes those amounts that are not required to be reclassified.
Where control of a subsidiary is achieved in stages, the initial acquisition that gave the group control is accounted for as a business combination. Thereafter where the group increases its controlling interest in the subsidiary the transaction is treated as a transaction between equity holders. Any difference between the fair value of the consideration paid and the carrying amount of the non-controlling interest acquired is recognised directly in equity. No changes are made to the carrying value of assets, liabilities or provisions for contingent liabilities.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% on cost
Plant & Machinery 25% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 15% on reducing balance
Computer Equipment 25% on cost
Page 19
Page 20
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The group's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Other Operating Income
2023 2022
£ £
Grant income 5,161 117,720
Rental income 28,100 27,600
33,261 145,320
4. Operating Profit
The operating profit is stated after charging:
2023 2022
£ £
Depreciation of tangible fixed assets 193,200 181,433
Page 20
Page 21
5. Auditor's Remuneration
Remuneration received by the company's auditors and their associates during the year was as follows:
2023 2022
£ £
Audit Services
Audit of the company's financial statements 24,999 23,811
6. Staff Costs
Staff costs, including directors' remuneration, were as follows:
Group Company
2023 2022 2023 2022
£ £ £ £
Wages and salaries 4,215,150 3,729,365 4,215,150 3,729,365
Social security costs 269,043 270,794 269,043 270,794
Other pension costs 72,184 65,289 72,184 65,289
4,556,377 4,065,448 4,556,377 4,065,448
7. Average Number of Employees
Group
Average number of employees, including directors, during the year was: 212 (2022: 224)
Company
Average number of employees, including directors, during the year was as follows:
2023 2022
Employees 206 217
Directors 6 7
212 224
212 224
8. Directors' remuneration
2023 2022
£ £
Emoluments 187,065 193,192
9. Interest Payable and Similar Charges
2023 2022
£ £
Bank loans and overdrafts 11,709 19,361
Interest payable on other loans 8,037 8,309
Finance charges payable under finance leases and hire purchase contracts 1,085 1,085
Other finance charges 186 -
21,017 28,755
Page 21
Page 22
10. Tax on Profit
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% 78,381 79,838
Deferred Tax
Deferred taxation 19,811 1,154
Total tax charge for the period 98,192 80,992
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) 77,790 78,026
Expenses not deductible for tax purposes 46 19
Capital allowances 6,270 2,947
Prior period adjustment (165 ) -
Difference in tax rates 14,251 -
Total tax charge for the period 98,192 80,992
11. Tangible Assets
Group
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 January 2023 6,039,273 109,894 37,893 2,202,060
Additions - - - 120,695
Disposals - (2,064 ) - (38,166 )
As at 31 December 2023 6,039,273 107,830 37,893 2,284,589
Depreciation
As at 1 January 2023 983,882 96,150 25,734 1,817,673
Provided during the period 117,585 2,956 3,040 67,566
Disposals - (1,857 ) - (37,116 )
As at 31 December 2023 1,101,467 97,249 28,774 1,848,123
Net Book Value
As at 31 December 2023 4,937,806 10,581 9,119 436,466
As at 1 January 2023 5,055,391 13,744 12,159 384,387
Page 22
Page 23
Computer Equipment Total
£ £
Cost
As at 1 January 2023 116,623 8,505,743
Additions 8,027 128,722
Disposals (111,435 ) (151,665 )
As at 31 December 2023 13,215 8,482,800
Depreciation
As at 1 January 2023 111,976 3,035,415
Provided during the period 2,052 193,199
Disposals (111,435 ) (150,408 )
As at 31 December 2023 2,593 3,078,206
Net Book Value
As at 31 December 2023 10,622 5,404,594
As at 1 January 2023 4,647 5,470,328
Cost or valuation as at 31 December 2023 represented by:
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
Company
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 January 2023 5,799,273 109,894 37,893 2,106,746
Additions - - - 120,695
Disposals - (2,064 ) - (38,166 )
As at 31 December 2023 5,799,273 107,830 37,893 2,189,275
...CONTINUED
Page 23
Page 24
Depreciation
As at 1 January 2023 974,282 96,150 25,734 1,744,436
Provided during the period 115,985 2,956 3,040 64,254
Disposals - (1,857 ) - (37,116 )
As at 31 December 2023 1,090,267 97,249 28,774 1,771,574
Net Book Value
As at 31 December 2023 4,709,006 10,581 9,119 417,701
As at 1 January 2023 4,824,991 13,744 12,159 362,310
Computer Equipment Total
£ £
Cost
As at 1 January 2023 116,623 8,170,429
Additions 8,027 128,722
Disposals (111,435 ) (151,665 )
As at 31 December 2023 13,215 8,147,486
Depreciation
As at 1 January 2023 111,976 2,952,578
Provided during the period 2,052 188,287
Disposals (111,435 ) (150,408 )
As at 31 December 2023 2,593 2,990,457
Net Book Value
As at 31 December 2023 10,622 5,157,029
As at 1 January 2023 4,647 5,217,851
Cost or valuation as at 31 December 2023 represented by:
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
Page 24
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12. Investments
Company
Unlisted
£
Cost
As at 1 January 2023 142,733
Revaluations 50,456
As at 31 December 2023 193,189
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 193,189
As at 1 January 2023 142,733
Cost or valuation at 31 December 2023 is represented by:
Shares in Group Undertakings
£
Unlisted investments
£
Totals
£
Valuation in 2017
(100)
(147,639)
(147,739)
Valuation in 2023
-
50,456
50,456
Cost
100
image
290,372
image
290,472
image
-
image

193,189
image
193,189
image
Subsidiaries
Details of the company's subsidiaries as at 31 December 2023 are as follows:
Name of undertaking Registered Office Class of shares held Direct holding Indirect holding
The Beeches Property Limited 49 Station Road, Polegate, East Sussex, BN26 6EA Ordinary 100.00% -
The Beeches Catering Services Ltd 41 Lisburn Road, Ballynahinch, Co Down, BT24 8TT Ordinary 100.00% -
The aggregate capital and reserves and the result for the year of the subsidiaries listed above was as follows:
Capital and Reserves Profit/(loss)
£ £
The Beeches Property Limited 193,187 10,280
The Beeches Catering Services Ltd (40,411 ) 6,486
The Beeches Property Limited and The Beeches Catering Services Ltd are both rental businesses and have been consolidated in the group accounts. Both companies are exempt from the requirements of the Companies Act 2006 relating to the audit of the accounts under section 479A of the Companies Act 2006.
Page 25
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13. Debtors
Group Company
2023 2022 2023 2022
£ £ £ £
Due within one year
Trade debtors 111,630 173,553 111,630 173,553
Amounts owed by group undertakings - - 116,982 116,982
Other debtors 392,409 409,191 392,409 409,114
504,039 582,744 621,021 699,649
14. Creditors: Amounts Falling Due Within One Year
Group Company
2023 2022 2023 2022
£ £ £ £
Net obligations under finance lease and hire purchase contracts 2,919 2,919 2,919 2,919
Trade creditors 104,694 137,035 104,692 137,035
Bank loans and overdrafts 1,156,438 1,124,791 1,156,438 1,124,791
Other creditors 856,525 929,211 812,397 885,083
Corporation tax 80,850 79,838 73,604 74,795
Taxation and social security 425 - - -
Accruals and deferred income 274,182 150,183 272,522 148,603
2,476,033 2,423,977 2,422,572 2,373,226
15. Creditors: Amounts Falling Due After More Than One Year
Group Company
2023 2022 2023 2022
£ £ £ £
Net obligations under finance lease and hire purchase contracts 6,335 9,254 6,335 9,254
Bank loans 31,623 173,555 31,623 173,555
37,958 182,809 37,958 182,809
Of the creditors the following amounts are secured.
Group Company
2023 2022 2023 2022
£ £ £ £
Bank loans and overdrafts 1,188,061 1,298,346 1,188,061 1,298,346
Danske Bank hold a fixed charge over the land and premises at 41 Lisburn Road, Ballynahinch.  They also hold a floating charge over all the assets of the Company.
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16. Loans
An analysis of the maturity of loans is given below:
Group Company
2023 2022 2023 2022
£ £ £ £
Amounts falling due within one year or on demand:
Bank loans 141,932 173,015 141,932 173,015
Group Company
2023 2022 2023 2022
£ £ £ £
Amounts falling due between one and five years:
Bank loans 31,623 173,555 31,623 173,555
17. Obligations Under Finance Leases and Hire Purchase
Group Company
2023 2022 2023 2022
£ £ £ £
The future minimum finance lease payments are as follows:
Not later than one year 2,919 2,919 2,919 2,919
Later than one year and not later than five years 6,335 9,254 6,335 9,254
9,254 12,173 9,254 12,173
9,254 12,173 9,254 12,173
18. Deferred Taxation
The provision for deferred tax is made up as follows:
 Group
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)
image
Balance at 31 December 2023
666,549
image
Company
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)
image
Balance at 31 December 2023
675,598
image
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Group Company
2023 2022 2023 2022
£ £ £ £
Accelerated capital allowances 62,765 40,071 59,200 35,876
Other timing differences 603,784 426,296 616,398 426,296
666,549 466,367 675,598 462,172
Recognised deferred tax assets, as indicated by balances shown within brackets above, are included in other debtors.
19. Provisions for Liabilities
Group
Deferred Tax Total
£ £
As at 1 January 2023 466,367 466,367
Additions 200,182 200,182
Balance at 31 December 2023 666,549 666,549
Company
Deferred Tax Total
£ £
As at 1 January 2023 462,172 462,172
Additions 213,426 213,426
Balance at 31 December 2023 675,598 675,598
20. Share Capital
2023 2022
Allotted, called up and fully paid £ £
20,000 Ordinary A shares of £ 1.00 each 20,000 20,000
20,000 Ordinary B shares of £ 1.00 each 20,000 20,000
20,000 Ordinary C shares of £ 1.00 each 20,000 20,000
5,000 Ordinary E shares of £ 1.00 each 5,000 5,000
3,500 Ordinary F shares of £ 1.00 each 3,500 3,500
68,500 68,500
Preference Shares
2023 2022
Allotted, called up and fully paid £ £
450,000 Preference Shares of £ 1.00 each 450,000 450,000
21. Pension Commitments
The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund.
During the year the charge to profit or loss in respect of defined contribution schemes was £72,184 (2022: £65,289).
At the balance sheet date contributions of £NIL were due to the fund and are included in creditors.
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22. Dividends
2023 2022
£ £
On equity shares:
Interim dividend paid 312,522 378,444
23. Reserves
Group
Revaluation Reserve
£
As at 1 January 2023 2,148,104
Deficit on revaluation (180,371)
Transfer to profit and loss (8,648 )
As at 31 December 2023 1,959,085
Company
Revaluation Reserve
£
As at 1 January 2023 2,000,365
Deficit on revaluation (142,529)
Transfer to profit and loss (8,648 )
As at 31 December 2023 1,849,188
24. Related Party Disclosures
The following related party transactions existed during the year:
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
Management charges and rent charged to related parties were undertaken in the normal course of business at commercial rates.
No interest was charged on loans to other group companies or other related parties.
25. Controlling Parties
The company's ultimate controlling party are James, Jeffrey and Jonathan Wilson by virtue of their interest in the share capital of the company.
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