G R (Holdings) Limited Company accounts

G R (HOLDINGS) LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 00449563

G R (Holdings) Limited

Unaudited Financial Statements

30 June 2018

G R (Holdings) Limited

Financial Statements

Year ended 30 June 2018

Contents	Page

Directors' report	1

Statement of income and retained earnings	2

Statement of financial position	3

Notes to the financial statements	5

The following pages do not form part of the financial statements

Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements	11

G R (Holdings) Limited

Directors' Report

Year ended 30 June 2018

The directors present their report and the unaudited financial statements of the company for the year ended 30 June 2018 .

Directors

The directors who served the company during the year were as follows:

A D Stalbow
Sir J H J Lewis OBE

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 28 March 2019 and signed on behalf of the board by:

A D Stalbow	Sir J H J Lewis OBE
Director	Director

G R (Holdings) Limited

Statement of Income and Retained Earnings

Year ended 30 June 2018

	2018	2017
Note	£	£
Turnover	100,000	100,001

	---------	---------
Gross profit	100,000	100,001

Administrative expenses	250,177	189,641
Other operating income	21,825	44,760
	---------	---------
Operating loss	( 128,352)	( 44,880)

Other interest receivable and similar income		–	2,191
Interest payable and similar expenses		–	1,091
		---------	---------
Loss before taxation	5	( 128,352)	( 43,780)

Tax on loss	–	–
	---------	--------
Loss for the financial year and total comprehensive income	( 128,352)	( 43,780)
	---------	--------

Retained losses at the start of the year	( 227,455)	( 183,675)
	---------	---------
Retained losses at the end of the year	( 355,807)	( 227,455)
	---------	---------

All the activities of the company are from continuing operations.

G R (Holdings) Limited

Statement of Financial Position

30 June 2018

	2018		2017
Note	£	£	£

Fixed assets

Tangible assets	6	123,750	126,381
Investments	7	395,331	395,331
		---------	---------
		519,081	521,712

Current assets

Debtors	8	29,173	25,840
Cash at bank and in hand		857,347	872,765
		---------	---------
		886,520	898,605

Creditors: amounts falling due within one year	9	135,603		21,967
		---------		---------
Net current assets			750,917	876,638
			------------	------------
Total assets less current liabilities			1,269,998	1,398,350
			------------	------------
Net assets			1,269,998	1,398,350
			------------	------------

Capital and reserves

Called up share capital	658,405	658,405
Share premium account	198,396	198,396
Revaluation reserve	344,004	344,004
Capital redemption reserve	425,000	425,000
Profit and loss account	( 355,807)	( 227,455)
	------------	------------
Shareholders funds	1,269,998	1,398,350
	------------	------------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

For the year ending 30 June 2018 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 .

G R (Holdings) Limited

Statement of Financial Position (continued)

30 June 2018

These financial statements were approved by the board of directors and authorised for issue on 28 March 2019 , and are signed on behalf of the board by:

A D Stalbow	Sir J H J Lewis OBE
Director	Director

Company registration number: 00449563

G R (Holdings) Limited

Notes to the Financial Statements

Year ended 30 June 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hallswelle House, 1 Hallswelle Road, London, NW11 0DH.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and Fittings	-	25% straight line
Motor vehicles	-	25% straight line

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 3 (2017: 3 ).

5. Profit before taxation

Profit before taxation is stated after charging:

	2018	2017
	£	£
Depreciation of tangible assets	2,631	5,263
	-------	-------

6. Tangible assets

	Land and buildings	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£
Cost
At 1 July 2017	123,750	1,154	21,050	145,954
Disposals	–	( 1,154)	–	( 1,154)
	---------	-------	--------	---------
At 30 June 2018	123,750	–	21,050	144,800
	---------	-------	--------	---------
Depreciation
At 1 July 2017	–	1,154	18,419	19,573
Charge for the year	–	–	2,631	2,631
Disposals	–	( 1,154)	–	( 1,154)
	---------	-------	--------	---------
At 30 June 2018	–	–	21,050	21,050
	---------	-------	--------	---------
Carrying amount
At 30 June 2018	123,750	–	–	123,750
	---------	-------	--------	---------
At 30 June 2017	123,750	–	2,631	126,381
	---------	-------	--------	---------

The investment properties were valued as at the balance sheet date by the directors, on an open market value for existing use basis.

7. Investments

	Shares in group undertakings	Other investments other than loans	Total
	£	£	£
Cost
At 1 July 2017 and 30 June 2018	1,002	430,539	431,541
	-------	---------	---------
Impairment
At 1 July 2017 and 30 June 2018	–	36,210	36,210
	-------	---------	---------

Carrying amount
At 30 June 2018	1,002	394,329	395,331
	-------	---------	---------
At 30 June 2017	1,002	394,329	395,331
	-------	---------	---------

The company owns 100% of the issued share capital of the companies listed below. All companies are incorporated and operate in the United Kingdom.

A Baily and Company Limited

Grayshott Hall Limited

Morlands (Glastonbury) Limited

Under the provision of section 398 of the Companies Act 2006 the company is exempt from preparing consolidated accounts and has not done so, therefore the accounts show information about the company as an individual entity.

8. Debtors

	2018	2017
	£	£
Other debtors	29,173	25,840
	--------	--------

9. Creditors: amounts falling due within one year

	2018	2017
	£	£
Trade creditors	9	5,356
Amounts owed to group undertakings and undertakings in which the company has a participating interest	118,322	2,207
Social security and other taxes	8,472	5,906
Other creditors	8,800	8,498
	---------	--------
	135,603	21,967
	---------	--------

10. Controlling party

The ultimate parent company is Morlands Holdings Limited, a limited company incorporated in England,

G R (Holdings) Limited

Management Information

Year ended 30 June 2018

The following pages do not form part of the financial statements.

G R (Holdings) Limited

Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of G R (Holdings) Limited

Year ended 30 June 2018

As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 30 June 2018, which comprise the statement of income and retained earnings, statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

GK & CO. LLP Chartered accountants

Hallswelle House 1 Hallswelle Road London NW11 0DH

28 March 2019