Grant Barnett Holdings Limited - Accounts to registrar (filleted) - small 18.2
Grant Barnett Holdings Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2019 |
for |
Grant Barnett Holdings Limited |
Grant Barnett Holdings Limited (Registered number: 04108513) |
Contents of the Financial Statements |
for the Year Ended 31 December 2019 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Grant Barnett Holdings Limited |
Company Information |
for the Year Ended 31 December 2019 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
44 The Pantiles |
Tunbridge Wells |
Kent |
TN2 5TN |
Grant Barnett Holdings Limited (Registered number: 04108513) |
Balance Sheet |
31 December 2019 |
31.12.19 | 31.12.18 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Grant Barnett Holdings Limited (Registered number: 04108513) |
Balance Sheet - continued |
31 December 2019 |
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 and authorised for issue on signed on its behalf by: |
Grant Barnett Holdings Limited (Registered number: 04108513) |
Notes to the Financial Statements |
for the Year Ended 31 December 2019 |
1. | STATUTORY INFORMATION |
Grant Barnett Holdings Limited is a |
company's registered number and registered office address can be found on the Company Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements are presented in pounds sterling and rounded to the nearest £. The company's functional |
currency is Pounds Sterling, Euro and US Dollar. |
Going concern |
Current liabilities exceed current assets, however, after reviewing the entities forecasts and projections, the |
directors have a reasonable expectation that the company has adequate resources to continue in operational |
existence for the foreseeable future. The company therefore continues to adopt the going concern basis in |
preparing its financial statements. |
Preparation of consolidated financial statements |
The financial statements contain information about Grant Barnett Holdings Limited as an individual company |
and do not contain consolidated financial information as the parent of a group. The company is exempt under |
Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Significant judgements and estimates |
Estimates and judgements are continually evaluated and are based on historical experience and other factors, |
including expectations of future events that are believed to be reasonable under the circumstances. |
Goodwill |
Goodwill is the difference between amounts paid on the acquisition of a business and fair value of the |
identifiable assets and liabilities. It is amortised to the profit and loss account over its estimated economic life. |
Investments in subsidiaries |
Investments in subsidiaries are disclosed at cost less impairment. |
Other Investments |
Other investments are shown at fair value or where fair value cannot be readily ascertained at cost less |
impairment. Any aggregate or surplus arising from changes in fair value is recognised through profit and loss. |
Impairment |
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance |
sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is |
estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an |
impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the |
impairment loss is a revaluation decrease. |
Grant Barnett Holdings Limited (Registered number: 04108513) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2019 |
2. | ACCOUNTING POLICIES - continued |
Debtors and creditors receivable/payable in one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at |
transaction price. Any losses arising from impairment are recognised in the profit and loss account in |
administrative expenses. |
Loans and borrowings |
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, |
they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement |
constitutes a financing transaction it is measured at the present value of future payments. |
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 balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet 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. |
Provisions |
Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past |
event, it is probable that the company will be required to settle the obligation , and a reliable estimate can be |
made of the amount of the obligation. |
The amount recognised as a provision is the best estimate of the consideration required to settle the present |
obligation at the end of the reporting period, taking in to account the risks and uncertainties surrounding the |
obligation. |
Where the effect of the time value of money is material, the amount expected to be required to settle the |
obligation is recognised at fair value, net of transactions costs, and are measured subsequently at amortised cost |
using the effective interest method. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2018 - NIL). |
Grant Barnett Holdings Limited (Registered number: 04108513) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2019 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 January 2019 |
and 31 December 2019 |
AMORTISATION |
At 1 January 2019 |
and 31 December 2019 |
NET BOOK VALUE |
At 31 December 2019 |
At 31 December 2018 |
5. | FIXED ASSET INVESTMENTS |
31.12.19 | 31.12.18 |
£ | £ |
Shares in group undertakings |
Other investments not loans |
Additional information is as follows: |
Shares in |
group |
undertakings |
£ |
COST |
At 1 January 2019 |
and 31 December 2019 |
NET BOOK VALUE |
At 31 December 2019 |
At 31 December 2018 |
Investments (neither listed nor unlisted) were as follows: |
31.12.19 | 31.12.18 |
£ | £ |
Brought forward | 831,028 | 1,095,526 |
Net movement | (88,822 | ) | (264,498 | ) |
742,206 | 831,028 |
Investments (neither listed nor unlisted) represents the fair value of the company's capital account balance in GB |
Creations LLP, Grant Barnett Designs LLP and Grant Barnett Assets LLP. The LLP's are considered subsidiaries |
as their voting rights are controlled by the company. |
Grant Barnett Holdings Limited (Registered number: 04108513) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2019 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.19 | 31.12.18 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.19 | 31.12.18 |
£ | £ |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
8. | SECURED DEBTS |
Barclays Bank Plc has a fixed and floating charge over all the assets of the company. |
9. | CONTINGENT LIABILITIES |
There is a cross guarantee in place with group entities for which there are total loans of £1,555,700 (2018: |
£674,382). |
10. | RELATED PARTY DISCLOSURES |
As at the balance sheet date £1,866,141 (2018: £1,425,508) was owed to the subsidiary company Grant, Barnett |
& Company Limited and included in creditors. The loan is interest free and repayable on demand |
As at the balance sheet date £875,000 (2018: £665,000) was due from companies connected to key management |
personnel and included in other debtors falling due within one year. The loans are interest free and repayable on |
demand. |
As at the balance sheet date £59,761 (2018: £243,863) was owed to key management personnel and included in |
other creditors falling due within one year. The loan is repayable on demand and interest free. |
As at the balance sheet date £507,744 (2018: £89,179) was owed from key management personnel and included |
in other debtors falling due within one year. The debt is repayable on demand and interest is charged at the |
HMRC statutory rate. |