GNH Investco Limited - Period Ending 2019-03-31
GNH Investco Limited - Period Ending 2019-03-31
Registration number:
for the Year Ended
GNH Investco Limited
Contents
Balance Sheet |
|
Notes to the Financial Statements |
GNH Investco Limited
(Registration number: 05736746)
Balance Sheet as at 31 March 2019
Note |
2019 |
2018 |
|
Fixed assets |
|||
Investments |
|
|
|
Other financial assets |
2,595,381 |
2,318,353 |
|
|
|
||
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets/(liabilities) |
|
( |
|
Net assets/(liabilities) |
|
( |
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Other reserves |
|
|
|
Profit and loss account |
|
( |
|
Total equity |
|
( |
For the financial year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Page 1 |
GNH Investco Limited
(Registration number: 05736746)
Balance Sheet as at 31 March 2019
Approved and authorised by the
.........................................
Company secretary and director
Page 2 |
GNH Investco Limited
Notes to the Financial Statements for the Year Ended 31 March 2019
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis. The company has restructured its investments and creditors and the directors believe that the going concern basis is appropriate.
Revenue recognition
Turnover represents dividends receivable in respect of investments held by the company.
Tax
The tax expense for the period comprises current tax payable.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Page 3 |
GNH Investco Limited
Notes to the Financial Statements for the Year Ended 31 March 2019
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Investments |
2019 |
2018 |
|
Investments in subsidiaries |
- |
|
Investments in associates |
|
|
|
|
Page 4 |
GNH Investco Limited
Notes to the Financial Statements for the Year Ended 31 March 2019
Subsidiaries |
£ |
Cost or valuation |
|
At 1 April 2018 |
|
Disposals |
( |
At 31 March 2019 |
- |
Provision |
|
Carrying amount |
|
At 31 March 2019 |
- |
At 31 March 2018 |
|
Associates |
£ |
Cost |
|
At 1 April 2018 |
|
Disposals |
( |
At 31 March 2019 |
|
Provision |
|
Carrying amount |
|
At 31 March 2019 |
|
At 31 March 2018 |
|
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
|
2019 |
2018 |
Page 5 |
GNH Investco Limited
Notes to the Financial Statements for the Year Ended 31 March 2019
Associates |
||||
|
First Floor, Unit 1b
|
Ordinary shares |
|
|
England & Wales |
||||
|
First Floor, Unit 1b
|
Ordinary shares |
|
|
England & Wales |
The principal activity of HBR PropCo Limited is |
The principal activity of RBH No.2 Limited is |
Other financial assets (current and non-current) |
2019 |
2018 |
|
Non-current financial assets |
||
Financial assets at fair value through profit and loss |
|
|
Financial assets at fair value through profit and loss |
Total |
|
Non-current financial assets |
||
Cost or valuation |
||
At 1 April 2018 |
2,318,353 |
2,318,353 |
Fair value adjustments |
104,234 |
104,234 |
Additions |
289,009 |
289,009 |
Disposals |
(116,215) |
(116,215) |
At 31 March 2019 |
2,595,381 |
2,595,381 |
Debtors |
2019 |
2018 |
|
Other debtors |
|
|
Less non-current portion |
( |
( |
|
|
Details of non-current trade and other debtors
£4,000,000 (2018 - £4,000,000) of Loan to Admiral House Property Trading Limited is classified as non current.
Page 6 |
GNH Investco Limited
Notes to the Financial Statements for the Year Ended 31 March 2019
Creditors |
Creditors: amounts falling due within one year
2019 |
2018 |
|
Due within one year |
||
Loans and borrowings |
|
|
Taxation and social security |
|
- |
Other creditors |
|
|
|
|
Creditors include bank loans which are secured of £8,000,000 (2018 - £8,000,000).
Loans and borrowings |
2019 |
2018 |
|
Current loans and borrowings |
||
Bank borrowings |
|
|
Page 7 |