Groco Newco 1 Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 09828824 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

FOR

GROCO NEWCO 1 LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs K M Baker

J S Baker

H M Lloyd

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

PR1 7BH

FIXED ASSETS

Investments

4

60,501

65,159

Investment property

5

1,269,529

1,270,577

1,330,030

1,335,736

CURRENT ASSETS

Debtors

6

9,873

20,682

Cash at bank

226,100

157,474

235,973

178,156

CREDITORS

Amounts falling due within one year

7

29,491

29,975

NET CURRENT ASSETS

206,482

148,181

TOTAL ASSETS LESS CURRENT LIABILITIES

1,536,512

1,483,917

CAPITAL AND RESERVES

Called up share capital

1,271,767

1,271,767

Share premium

95,094

95,094

Retained earnings

169,651

117,056

1,536,512

1,483,917

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2022 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 June 2023 and were signed on its behalf by:

Mrs K M Baker - Director

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 Statement of Income and Retained Earnings, 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.

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 3 (2021 - 3 ) .

4.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 October 2021

65,159

Revaluations

(4,658

)

At 30 September 2022

60,501

NET BOOK VALUE

At 30 September 2022

60,501

At 30 September 2021

65,159

Cost or valuation at 30 September 2022 is represented by:

Other

investments

£

Valuation in 2020

(1,337

)

Valuation in 2021

8,866

Valuation in 2022

(4,658

)

Cost

57,630

60,501

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

2022

2021

£

£

Cost

57,630

57,630

Fixed asset investments were valued on an open market basis on 30 September 2022 by Five Wealth Limited .

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 October 2021

1,270,577

Disposals

(1,048

)

At 30 September 2022

1,269,529

NET BOOK VALUE

At 30 September 2022

1,269,529

At 30 September 2021

1,270,577

The directors consider the market value of investment properties as at 30 September 2022 and 30 September 2021 to be not materially different to their original cost to the company.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

1,899

13,653

Other debtors

7,974

7,029

9,873

20,682

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

-

1

Taxation and social security

15,370

5,982

Other creditors

14,121

23,992

29,491

29,975

8.	RELATED PARTY DISCLOSURES

9.	ULTIMATE CONTROLLING PARTY

The controlling party is Groco Newco 4 Limited.

The ultimate controlling party is Mrs K M Baker.