George's Tradition (Holdings) Limited - Accounts to registrar (filleted) - small 18.2

GEORGES TRADITION (HOLDINGS) LIMITED - Company Information

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GEORGE'S TRADITION (HOLDINGS) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2020

Page

Company Information

Balance Sheet

Notes to the Financial Statements

DIRECTORS:

A Constantinou

N D Hogan

REGISTERED OFFICE:

Unit 5 Royal Glen Park

Chellaston

Derby

DE73 5XE

REGISTERED NUMBER:

04488077 (England and Wales)

ACCOUNTANTS:

Sibbalds Limited

Chartered Accountants and Business Advisers

Oakhurst House

57 Ashbourne Road

Derby

Derbyshire

DE22 3FS

FIXED ASSETS

Investments

90,744

CURRENT ASSETS

Debtors

1,886,235

1,289,907

NET CURRENT ASSETS

1,886,235

1,289,907

TOTAL ASSETS LESS CURRENT LIABILITIES

1,976,979

1,380,651

CREDITORS

Amounts falling due after more than one
year

2,542,508

1,300,000

NET (LIABILITIES)/ASSETS

(565,529

)

80,651

CAPITAL AND RESERVES

Called up share capital

1,200

Share premium

89,900

Capital distribution

(63,880

)

Retained earnings

(656,629

)

53,431

SHAREHOLDERS' FUNDS

(565,529

)

80,651

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2020 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 applicable to companies subject to the small companies regime.

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 29 January 2021 and were signed on its behalf by:

N D Hogan - Director

1.	STATUTORY INFORMATION

George's Tradition (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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Preparation of consolidated financial statements

The financial statements contain information about George's Tradition (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.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less impairment.

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.

Financial liabilities

Short term creditors are measured at transaction price. Other financial liabilities, including loans from connected companies are measured initially at fair value, net of transaction cost and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Financial assets

Short term debtors are measured at transaction price, less any impairment. Other financial assets, including loans to connected companies are measured initially at fair value, net of transactions cost and are subsequently measured at amortised cost using the effective interest method, less any impairment.

Going concern

The financial statements have been prepared on a going concern basis, the applicability of which is dependent upon the continued support of the company's creditors and financiers. In the opinion of the directors, the company has the continued support of its creditors and financiers for the foreseeable future and it is therefore appropriate to adopt the going concern policy.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4.	FIXED ASSET INVESTMENTS

2020

2019

Shares in group undertakings

102

Loans to group undertakings

90,642

90,744

Additional information is as follows:

Shares in

group

undertakings

COST

At 1 February 2019

and 31 January 2020

102

NET BOOK VALUE

At 31 January 2020

102

At 31 January 2019

102

Loans to

group

undertakings

At 1 February 2019

and 31 January 2020

90,642

DEBTORS

2020

2019

Amounts falling due within one year:

Amounts owed by group undertakings

1,873,887

Directors' current accounts

1,097

1,874,984

1,097

Amounts falling due after more than one year:

Amounts owed by group undertakings

742,809

Amounts owed by associates

523,498

Other debtors

11,251

22,503

11,251

1,288,810

Aggregate amounts

1,886,235

1,289,907

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

Preference shares

1,300,000

Other loans

1,242,508

2,542,508

1,300,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Other loans

1,242,508

Repayable by instalments

Preference shares

1,300,000

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

900

'A' Ordinary

£1

900

225

'B' Ordinary

£1

225

'C' Ordinary

£1

1,200