GCSC Holdings Limited - Accounts to registrar (filleted) - small 18.2

GCSC Holdings Limited - Accounts to registrar (filleted) - small 18.2

GCSC HOLDINGS LIMITED - Company Information

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REGISTERED NUMBER: 04408352 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 December 2018

for

GCSC Holdings Limited
GCSC Holdings Limited (Registered number: 04408352)






Contents of the Financial Statements
for the Year Ended 31 December 2018




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


GCSC Holdings Limited

Company Information
for the Year Ended 31 December 2018







DIRECTORS: C R Crome
Miss E McGuire
J Smart





REGISTERED OFFICE: Overdene House
49 Church Street
Theale
Reading
Berkshire
RG7 5BX





REGISTERED NUMBER: 04408352 (England and Wales)
Page 1
GCSC Holdings Limited (Registered number: 04408352)

Statement of Financial Position
31 December 2018

31.12.18 31.12.17
Notes £    £    £    £   
FIXED ASSETS
Investments 4 95,754 95,754

CURRENT ASSETS
Debtors 5 305,877 479,649
Cash at bank 830 4,390
306,707 484,039
CREDITORS
Amounts falling due within one year 6 111,466 288,798
NET CURRENT ASSETS 195,241 195,241
TOTAL ASSETS LESS CURRENT
LIABILITIES
290,995
290,995

CAPITAL AND RESERVES
Called up share capital 6,613 6,613
Share premium 2,438 2,438
Revaluation reserve 7 11,750 11,750
Retained earnings 270,194 270,194
SHAREHOLDERS' FUNDS 290,995 290,995

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 28 March 2019 and were signed on its behalf by:





C R Crome - Director


The notes form part of these financial statements

Page 2
GCSC Holdings Limited (Registered number: 04408352)

Notes to the Financial Statements
for the Year Ended 31 December 2018

1. STATUTORY INFORMATION

GCSC Holdings Limited is a private company, limited by shares , registered in England and Wales. The
company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

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

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The presentation currency is sterling (£).

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.

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.

Debtors
Short term debtors are measured at transaction price less any impairment. Loans receivable are measured
initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the
effective interest method.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans are
measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using
the effective interest method.

Fixed asset investments
Fixed asset investments are included in the company's balance sheet at cost or valuation less amounts written
off for permanent diminution in value.

Going concern justification
The accounts are prepared on a going concern basis, the use of the going concern basis of accounting is
appropriate because there are no material uncertainties related to events or conditions that may cast significant
doubt about the ability of the company to continue as a going concern.

Page 3 continued...
GCSC Holdings Limited (Registered number: 04408352)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2018

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 January 2018
and 31 December 2018 95,754
NET BOOK VALUE
At 31 December 2018 95,754
At 31 December 2017 95,754

Cost or valuation at 31 December 2018 is represented by:

Other
investments
£   
Valuation in 2007 36,000
Valuation in 2009 25,000
Valuation in 2010 (49,250 )
Cost 84,004
95,754

If fixed asset investments had not been revalued they would have been included at the following historical cost:

31.12.18 31.12.17
£    £   
Cost 84,004 84,004

Fixed asset investments were valued on an open market basis on 31 December 2010 by C Crome a director of the company.
.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.18 31.12.17
£    £   
Amounts owed by group undertakings 303,264 477,036
Other debtors 2,613 2,613
305,877 479,649

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.18 31.12.17
£    £   
Amounts owed to group undertakings 11,466 188,798
Other creditors 100,000 100,000
111,466 288,798

7. RESERVES
Revaluation
reserve
£   
At 1 January 2018
and 31 December 2018 11,750

Page 4 continued...
GCSC Holdings Limited (Registered number: 04408352)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2018

8. RELATED PARTY DISCLOSURES

At the balance sheet date the following balances existed with other group undertakings:

£3,316 due to Indigrow (UK) Limited (2017 - £28,316)
£8,148 due to Indigrow Limited (2017 - £160,481)
£214,597 due from Citrus Bay Management Limited (2017 - £211,036)
£88,667 due from Indigrow AB (2016 - £266,000)

The company has given guarantees in respect of factoring advances made to Indigrow Limited and Indigrow
(UK) Limited. At the year end the amounts outstanding were Indigrow Limited £31,485 (2017 - £78,869) and
Indigrow (UK) Limited £71,226 (2017 - £122,693).

9. ULTIMATE CONTROLLING PARTY

The controlling party is C R Crome.

Page 5