ADDICTION RECOVERY CENTRES LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2014
Company Registration No. 05810573 (England and Wales)
ADDICTION RECOVERY CENTRES LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 4
ADDICTION RECOVERY CENTRES LIMITED
ABBREVIATED BALANCE SHEET
- 1 -
2014
2013
Notes
£
£
£
£
Fixed assets
Tangible assets
2
2,548
2,681
Current assets
Debtors
87,174
69,639
Cash at bank and in hand
4,268
3,926
91,442
73,565
Creditors: amounts falling due within one year
(28,547)
(18,840)
Net current assets
62,895
54,725
Total assets less current liabilities
65,443
57,406
Creditors: amounts falling due after more than one year
3
(431,360)
(431,360)
(365,917)
(373,954)
Capital and reserves
Called up share capital
4
100
100
Profit and loss account
(366,017)
(374,054)
Shareholders' funds
(365,917)
(373,954)
For the financial year ended 31 May 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board and authorised for issue on 24 February 2015
Graham Foster
Director
Company Registration No. 05810573
ADDICTION RECOVERY CENTRES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2014
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Leasehold
10% straight line
Plant and machinery
33% straight line
Fixtures, fittings & equipment
33% straight line
Motor vehicles
25% reducing balance
1.5
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in 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 payable under operating leases are charged against income on a straight line basis over the lease term.
1.6
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
ADDICTION RECOVERY CENTRES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2014
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 June 2013
112,018
Additions
851
At 31 May 2014
112,869
Depreciation
At 1 June 2013
109,337
Charge for the year
984
At 31 May 2014
110,321
Net book value
At 31 May 2014
2,548
At 31 May 2013
2,681
3
Creditors: amounts falling due after more than one year
2014
2013
£
£
Analysis of loans repayable in more than five years
Total amounts repayable by instalments which are due in more than five years
(431,360)
(431,360)
4
Share capital
2014
2013
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100
ADDICTION RECOVERY CENTRES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2014
- 4 -
5
Related party relationships and transactions
Loans from/(to) directors
Transactions in relation to loans from / (to) directors during the year are outlined in the table below:
Description
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
Kevin Martin - Directors Loan
-
(20)
-
-
-
(20)
James Martin - Directors Loan
-
(40)
-
-
-
(40)
Graham Foster - Directors Loan
-
(169)
149,001
-
(139,001)
9,831
(229)
149,001
-
(139,001)
9,771
Other transactions
During the period Thomas Owen Care Limited, a company for which Kevin Martin is also a director, provided a loan to Addiction Recovery Centres Limited. The balance outstanding as at the year end was £431,360 (2013 - £431,360).