JRC Holdings Limited Filleted accounts for Companies House (small and micro)

JRC HOLDINGS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 05322705

JRC Holdings Limited

Filleted Financial Statements

23 December 2018

JRC Holdings Limited

Financial Statements

Period from 25 December 2017 to 23 December 2018

Contents	Page

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	3

JRC Holdings Limited

Officers and Professional Advisers

The board of directors	Mr M A Herbert
	Mr J Carlisle
	Mrs L E Herbert

Company secretary	Mr A Purnell

Registered office	C/O DWF LLP
	1 Scott Place 2 Hardman Street
	Manchester
	M3 3AA

Auditor	Maneely Mc Cann
	Chartered Accountants & Statutory Auditors
	Aisling House
	50 Stranmillis Embankment
	Belfast
	BT9 5FL

Bankers	Lloyds
	45 High Street
	Maidenhead
	Berkshire
	SL6 1JL

	Danske Bank
	Donegall Square West
	Belfast
	BT1 6JS

Solicitors	DWF (Northern Ireland) LLP
	Jefferson House
	42 Queen Street
	Belfast
	BT1 6HL

JRC Holdings Limited

Statement of Financial Position

23 December 2018

	23 Dec 18		24 Dec 17
Note	£	£	£

Fixed assets

Investments	4		10,106,975	10,106,975

Current assets

Debtors	5	2	2
Cash at bank and in hand		–	169
		----	----
		2	171

Creditors: amounts falling due within one year	6	2,344		5,543
		-------		-------
Net current liabilities			2,342	5,372
			-------------	-------------
Total assets less current liabilities			10,104,633	10,101,603

Creditors: amounts falling due after more than one year	7	3,516,711	3,511,248
		-------------	-------------
Net assets		6,587,922	6,590,355
		-------------	-------------

Capital and reserves

Called up share capital	5,669	5,669
Share premium account	5,046,854	5,046,854
Profit and loss account	1,535,399	1,537,832
	------------	------------
Shareholders funds	6,587,922	6,590,355
	------------	------------

These financial statements have been prepared and delivered 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'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements were approved by the board of directors and authorised for issue on 26 June 2019 , and are signed on behalf of the board by:

Mr M A Herbert

Director

Company registration number: 05322705

JRC Holdings Limited

Notes to the Financial Statements

Period from 25 December 2017 to 23 December 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 C/O DWF LLP, 1 Scott Place 2 Hardman Street, Manchester, M3 3AA.

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 entity has taken advantage of the exemption from preparing consolidated financial statements contained in Section 400 of the Companies Act 2006 on the basis that it is a subsidiary undertaking and its immediate parent undertaking is established under the law of an EEA State.

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

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Investments

	Shares in group undertakings
	£
Cost
At 25 December 2017 and 23 December 2018	10,106,975
	-------------
Impairment
At 25 December 2017 and 23 December 2018	–
	-------------

Carrying amount
At 23 December 2018	10,106,975
	-------------
At 24 December 2017	10,106,975
	-------------

Subsidiaries, associates and other investments

	Registered office	Class of share	Percentage of shares held
Subsidiary undertakings
Kram Management Limited	This company is a holding company.	Ordinary Shares	80
Scotco Restaurants Limited	This company is involved in fast food retail.	Ordinary Shares	100

5. Debtors

	23 Dec 18	24 Dec 17
	£	£
Other debtors	2	2
	----	----

6. Creditors: amounts falling due within one year

	23 Dec 18	24 Dec 17
	£	£
Bank loans and overdrafts	164	–
Corporation tax	–	213
Other Creditors	–	1,750
Other creditors	2,180	3,580
	-------	-------
	2,344	5,543
	-------	-------

7. Creditors: amounts falling due after more than one year

	23 Dec 18	24 Dec 17
	£	£
Amounts owed to group undertakings and undertakings in which the company has a participating interest	3,516,711	3,511,248
	------------	------------

8. Contingencies

Bank loans and overdrafts of the group are secured by way of fixed and floating charges on the company's assets, and by a composite debenture between group companies.

9. Summary audit opinion

The auditor's report for the period dated 26 June 2019 was unqualified.

The senior statutory auditor was Mr Cathal Maneely , for and on behalf of Maneely Mc Cann .

10. Related party transactions

Control The company is a wholly owned subsidiary of Scotco Central Limited, a company incorporated in England and Wales, which is a wholly owned subsidiary of Scotco (Eastern) Limited, a company incorporated in Scotland. Scotco (Eastern) Limited is a wholly owned subsidiary of Banner Dell Limited, a company incorporated in England and Wales, which is a a wholly owned subsidiary of Herbert Corporate Holdings Limited, a company registered in Northern Ireland. Mrs L E Herbert is the shareholder of Herbert Corporate Holdings Limited and as such is considered to be the company's ultimate controlling party. Transactions The company has taken advantage of the exemption from disclosing related party transactions with group companies, in accordance with Financial Reporting Standard No 102 Section 1A Appendix C, Related Party Disclosures.

11. Controlling party

Herbert Corporate Holdings Limited , a company incorporated in England and Wales, is the company's ultimate parent company. Copies of the consolidated financial statements for Herbert Corporate Holdings Limited may be obtained from Lesley House, 605 Lisburn Road, Belfast, BT9 7GS.