Groco Newco 1 Limited - Accounts to registrar (filleted) - small 18.2

Groco Newco 1 Limited - Accounts to registrar (filleted) - small 18.2

GROCO NEWCO 1 LIMITED - Company Information

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REGISTERED NUMBER: 09828824 (England and Wales)

























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2020

FOR

GROCO NEWCO 1 LIMITED
GROCO NEWCO 1 LIMITED (REGISTERED NUMBER: 09828824)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2020




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GROCO NEWCO 1 LIMITED


COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2020







DIRECTOR: Mrs K M Baker





REGISTERED OFFICE: Greenbank House
141 Adelphi Street
Preston
Lancashire
PR1 7BH





REGISTERED NUMBER: 09828824 (England and Wales)





ACCOUNTANTS: James Todd & Co
Greenbank House
141 Adelphi Street
Preston
Lancashire
PR2 9TH
Page 1
GROCO NEWCO 1 LIMITED (REGISTERED NUMBER: 09828824)


BALANCE SHEET
30 SEPTEMBER 2020

2020 2019
Notes £    £    £    £   
FIXED ASSETS
Investments 4 93,445 1
Investment property 5 1,270,577 1,182,756
1,364,022 1,182,757

CURRENT ASSETS
Debtors 6 8,139 18,388
Cash at bank 121,886 295,544
130,025 313,932
CREDITORS
Amounts falling due within one year 7 17,059 28,112
NET CURRENT ASSETS 112,966 285,820
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,476,988
1,468,577

CAPITAL AND RESERVES
Called up share capital 1,271,767 1,271,767
Share premium 95,094 95,094
Retained earnings 110,127 101,716
1,476,988 1,468,577

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director and authorised for issue on 11 May 2021 and were signed by:



Mrs K M Baker - Director


The notes form part of these financial statements

Page 2
GROCO NEWCO 1 LIMITED (REGISTERED NUMBER: 09828824)


NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2020

1. STATUTORY INFORMATION

Groco Newco 1 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 as modified by the revaluation of certain assets.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
The properties held by the company are classed as investment properties. The investment properties are stated at open market value, their most recent valuation, at the balance sheet date. Gains or losses arising from the changes in the fair values of investment properties are included in the Income Statement for the period in which they arise.

Financial instruments
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Basic financial assets, which include debtors, prepayments and bank balances, are initially measured at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the asset is measured at the present value of the future receipts discounted at a market rate of interest. Basic financial liabilities, which include creditors, accruals, bank loans and group borrowings, are initially recognised at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the liability is measured at the present value of the future obligations discounted at a market rate of interest.

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.


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GROCO NEWCO 1 LIMITED (REGISTERED NUMBER: 09828824)


NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2020

2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 October 2019 1
Additions 144,411
Disposals (49,630 )
Revaluations (1,337 )
At 30 September 2020 93,445
NET BOOK VALUE
At 30 September 2020 93,445
At 30 September 2019 1

Cost or valuation at 30 September 2020 is represented by:

Other
investments
£   
Valuation in 2020 (1,337 )
Cost 94,782
93,445

If investments had not been revalued they would have been included at the following historical cost:

2020 2019
£    £   
Cost 94,782 -

Fixed asset investments were valued on an open market basis on 30 September 2020 by Five Wealth Limited .

Page 4 continued...
GROCO NEWCO 1 LIMITED (REGISTERED NUMBER: 09828824)


NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2020

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2019 1,182,756
Additions 93,062
Disposals (5,241 )
At 30 September 2020 1,270,577
NET BOOK VALUE
At 30 September 2020 1,270,577
At 30 September 2019 1,182,756

The director considers the market value of investment properties as at 30 September 2020 to be not materially different to their original cost to the company.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Trade debtors 985 12,399
Other debtors 5,039 5,039
Prepayments and accrued income 2,115 950
8,139 18,388

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Amounts owed to group undertakings - 800
Corporation tax 6,817 8,640
Social security and other taxes 300 1,335
Other creditors 383 -
Directors' current accounts 119 97
Accruals and deferred income 9,440 17,240
17,059 28,112

Page 5 continued...
GROCO NEWCO 1 LIMITED (REGISTERED NUMBER: 09828824)


NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2020

8. RELATED PARTY DISCLOSURES

At 30 September 2020 the company owed the director, Mrs K M Baker £119 (2019: £98).

During the year the company sold a plot of land to the director. Mrs K M Baker, at arms length, for £10,000.

During the year the company paid a pension contribution of £20,000 (2019: £nil) on behalf of the director.

At 30 September 2020 the company was owed £5,039 (2019: £5,039) by Ruttle Plant Holdings Limited, a company controlled by the brother of the director.

During the year the company made purchases of £1,566 (2019: £2,232) from Ruttle Investments Limited, a company controlled by the brother of the director, and at the year end £nil (2019: £998) was owed to that company.

During the year the company made purchases of £2,000 (2019: £2,000) from Mr S J Baker, the son of the director. At 30 September 2020 the company owed Mr S J Baker £192 (2019: £nil).

During the year the company made purchases of £2,000 (2019: £2,000) from Mrs H M Lloyd, the daughter of the director. At 30 September 2020 the company owed Mrs H M Lloyd £192 (2019: £nil).

9. ULTIMATE CONTROLLING PARTY

The controlling party is Groco Newco 4 Limited.

The ultimate controlling party is Mrs K M Baker.

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