Grangefrost Limited - Period Ending 2017-09-30
Grangefrost Limited - Period Ending 2017-09-30
Registration number:
Grangefrost Limited
for the Year Ended 30 September 2017
Grangefrost Limited
Contents
Balance Sheet |
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Notes to the Financial Statements |
Grangefrost Limited
(Registration number: 05597933)
Balance Sheet as at 30 September 2017
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2017 |
2016 |
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Fixed assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current liabilities |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 30 September 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Page 1 |
Grangefrost Limited
Notes to the Financial Statements for the Year Ended 30 September 2017
General information |
The company is a private company limited by share capital incorporated in England.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. These are the first financial statements that comply with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The date of transition is 1 October 2015.
The transition to Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and their impact on the financial statements are explained in note 7 below.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Group accounts not prepared
Going concern
The financial statements have been prepared on a going concern basis.
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Page 2 |
Grangefrost Limited
Notes to the Financial Statements for the Year Ended 30 September 2017
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Investments |
2017 |
2016 |
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Investments in subsidiaries |
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Subsidiaries |
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Cost or valuation |
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At 1 October 2016 |
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Provision |
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Fair value adjustment |
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Carrying amount |
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At 30 September 2017 |
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At 30 September 2016 |
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Details of undertakings
Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Holding |
Proportion of voting rights and shares held |
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2017 |
2016 |
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Subsidiary undertakings |
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ordinary |
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ordinary |
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ordinary |
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ordinary |
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Page 3 |
Grangefrost Limited
Notes to the Financial Statements for the Year Ended 30 September 2017
The profit for the financial period of Rose Homes (EA) Limited was £860,918 and the aggregate amount of capital and reserves at the end of the period was £4,454,386.
The profit for the financial period of Reuben Rose (Properties) Holdings Limited was £nil and the aggregate amount of share capital and reserves at the end of the period was £3,155.
The profit for the financial period of Rose & Sons Holdings Limited was £nil and the aggregate amount of capital and reserves at the end of the period was £3,154.
The profit for the financial period of Rose & Sons Limited was £nil and the aggregate amount of capital and reserves at the end of the period was £5,000.
Debtors |
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2017 |
2016 |
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Amounts owed by group undertakings |
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Total current trade and other debtors |
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Creditors |
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2017 |
2016 |
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Due within one year |
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Amounts owed to group undertakings |
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Other creditors |
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Due after one year |
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Loans and borrowings |
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Page 4 |
Grangefrost Limited
Notes to the Financial Statements for the Year Ended 30 September 2017
Loans and borrowings |
2017 |
2016 |
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Non-current loans and borrowings |
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Preference share interest |
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Redeemable preference shares |
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The earliest redemption date of the preference shares was the 31 March 2007. The redemption is at the company's option. No premium is payable upon redemption.
Transition to FRS 102 |
Page 5 |