Groco Newco 2 Limited - Accounts to registrar (filleted) - small 18.2

Groco Newco 2 Limited - Accounts to registrar (filleted) - small 18.2

GROCO NEWCO 2 LIMITED - Company Information

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REGISTERED NUMBER: 09827030 (England and Wales)

























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2020

FOR

GROCO NEWCO 2 LIMITED
GROCO NEWCO 2 LIMITED (REGISTERED NUMBER: 09827030)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GROCO NEWCO 2 LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2020







DIRECTOR: Mr A W Ruttle





REGISTERED OFFICE: Unit 40
Twin Lakes Industrial Park
Bretherton Road
Croston
Lancashire
PR26 9RF





REGISTERED NUMBER: 09827030 (England and Wales)





ACCOUNTANTS: James Todd & Co
Greenbank House
141 Adelphi Street
Preston
Lancashire
PR1 7BH
Page 1
GROCO NEWCO 2 LIMITED (REGISTERED NUMBER: 09827030)

BALANCE SHEET
30 SEPTEMBER 2020

2020 2019
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 26,530 35,375
Investments 5 - 1,682,429
Investment property 6 1,235,097 1,913,132
1,261,627 3,630,936

CURRENT ASSETS
Debtors 7 94,536 91,262
Cash at bank 659,049 670,320
753,585 761,582
CREDITORS
Amounts falling due within one year 8 90,838 61,562
NET CURRENT ASSETS 662,747 700,020
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,924,374
4,330,956

PROVISIONS FOR LIABILITIES 2,298 6,721
NET ASSETS 1,922,076 4,324,235

CAPITAL AND RESERVES
Called up share capital 1,000,000 3,740,823
Share premium - 251,280
Retained earnings 922,076 332,132
SHAREHOLDERS' FUNDS 1,922,076 4,324,235

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 his 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 notes form part of these financial statements

Page 2 continued...
GROCO NEWCO 2 LIMITED (REGISTERED NUMBER: 09827030)

BALANCE SHEET - continued
30 SEPTEMBER 2020


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 28 June 2021 and were signed by:





Mr A W Ruttle - Director


The notes form part of these financial statements

Page 3
GROCO NEWCO 2 LIMITED (REGISTERED NUMBER: 09827030)

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

1. STATUTORY INFORMATION

Groco Newco 2 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 Groco Newco 2 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.

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 represents net invoiced rental income, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

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.


Page 4 continued...
GROCO NEWCO 2 LIMITED (REGISTERED NUMBER: 09827030)

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 2 (2019 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2019
and 30 September 2020 47,167
DEPRECIATION
At 1 October 2019 11,792
Charge for year 8,845
At 30 September 2020 20,637
NET BOOK VALUE
At 30 September 2020 26,530
At 30 September 2019 35,375

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 October 2019 1,682,429
Additions 680,000
Disposals (2,362,429 )
At 30 September 2020 -
NET BOOK VALUE
At 30 September 2020 -
At 30 September 2019 1,682,429

Page 5 continued...
GROCO NEWCO 2 LIMITED (REGISTERED NUMBER: 09827030)

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

5. FIXED ASSET INVESTMENTS - continued

The director considers the market value of the investments as at 30 September 2020 and 30 September 2019 to be not materially different to their original cost to the company.

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2019 1,913,132
Disposals (678,035 )
At 30 September 2020 1,235,097
NET BOOK VALUE
At 30 September 2020 1,235,097
At 30 September 2019 1,913,132

The director considers the market value of investment properties as at 30 September 2020 and 30 September 2019 to be not materially different to their original cost to the company.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Trade debtors 35,658 39,991
Other debtors 49,724 49,724
Corporation tax repayable 6,384 -
Prepayments and accrued income 2,770 1,547
94,536 91,262

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Trade creditors 39,030 13,514
Corporation tax 8,080 8,100
Social security and other taxes 6,817 8,450
Other creditors 7,678 227
Directors' current accounts 3,554 -
Accruals and deferred income 25,679 31,271
90,838 61,562

9. RELATED PARTY DISCLOSURES

At the balance sheet date the company owed the director £3,554 (2019: £nil).

On 21 March 2020 a share for share exchange took place, which saw Artgro Ltd, a company incorporated in the United Kingdom, become the 100% shareholder of Groco Newco 5 Limited, and therefore this company's ultimate parent company from that date.

On 14 April 2020 Artgro Ltd, a company incorporated in the United Kingdom, acquired a 100% shareholding in Groco Newco 2 Limited, and therefore became this company's ultimate parent company from that date.

Page 6 continued...
GROCO NEWCO 2 LIMITED (REGISTERED NUMBER: 09827030)

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

10. ULTIMATE CONTROLLING PARTY

The controlling party is Artgro Limited.

The ultimate controlling party is Mr A W Ruttle.

Page 7