ACCOUNTS - Final Accounts

NIGEL GROGAN LIMITED - Company Information

Caseware UK (AP4) 2016.0.181 2016.0.181 2017-03-312017-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truefalsefalse2016-04-01 02636669 2016-04-01 2017-03-31 02636669 2017-03-31 02636669 2016-03-31 02636669 c:Director1 2016-04-01 2017-03-31 02636669 d:MotorVehicles 2016-04-01 2017-03-31 02636669 d:MotorVehicles 2017-03-31 02636669 d:MotorVehicles 2016-03-31 02636669 d:MotorVehicles d:OwnedOrFreeholdAssets 2016-04-01 2017-03-31 02636669 d:FurnitureFittings 2016-04-01 2017-03-31 02636669 d:FurnitureFittings 2017-03-31 02636669 d:FurnitureFittings 2016-03-31 02636669 d:FurnitureFittings d:OwnedOrFreeholdAssets 2016-04-01 2017-03-31 02636669 d:OwnedOrFreeholdAssets 2016-04-01 2017-03-31 02636669 d:Non-currentFinancialInstruments d:UnlistedNon-exchangeTraded 2017-03-31 02636669 d:Non-currentFinancialInstruments d:UnlistedNon-exchangeTraded 2016-03-31 02636669 d:CurrentFinancialInstruments 2017-03-31 02636669 d:CurrentFinancialInstruments 2016-03-31 02636669 d:Non-currentFinancialInstruments 2017-03-31 02636669 d:Non-currentFinancialInstruments 2016-03-31 02636669 d:CurrentFinancialInstruments d:WithinOneYear 2017-03-31 02636669 d:CurrentFinancialInstruments d:WithinOneYear 2016-03-31 02636669 d:ShareCapital 2017-03-31 02636669 d:ShareCapital 2016-03-31 02636669 d:CapitalRedemptionReserve 2017-03-31 02636669 d:CapitalRedemptionReserve 2016-03-31 02636669 d:RetainedEarningsAccumulatedLosses 2017-03-31 02636669 d:RetainedEarningsAccumulatedLosses 2016-03-31 02636669 d:AcceleratedTaxDepreciationDeferredTax 2017-03-31 02636669 d:AcceleratedTaxDepreciationDeferredTax 2016-03-31 02636669 d:TaxLossesCarry-forwardsDeferredTax 2017-03-31 02636669 d:TaxLossesCarry-forwardsDeferredTax 2016-03-31 02636669 c:FRS102 2016-04-01 2017-03-31 02636669 c:AuditExempt-NoAccountantsReport 2016-04-01 2017-03-31 02636669 c:FullAccounts 2016-04-01 2017-03-31 02636669 c:PrivateLimitedCompanyLtd 2016-04-01 2017-03-31 02636669 d:Subsidiary1 2017-03-31 02636669 d:Subsidiary1 2016-04-01 2017-03-31 02636669 d:Subsidiary1 1 2016-04-01 2017-03-31 iso4217:GBP xbrli:pure

Registered number: 02636669

NIGEL GROGAN LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

NIGEL GROGAN LIMITED

REGISTERED NUMBER: 02636669

BALANCE SHEET

AS AT 31 MARCH 2017

		2017		2016
Note		£		£

Fixed assets
Tangible assets	3		1,240		1,550
Investments	4		2,145,959		2,145,959
			2,147,199		2,147,509
Current assets
Debtors: amounts falling due within one year	5	49,086		49,086
		49,086		49,086
Creditors: amounts falling due within one year	6	(528,738)		(528,738)
Net current liabilities			(479,652)		(479,652)
Total assets less current liabilities			1,667,547		1,667,857
Provisions for liabilities
Deferred tax	7	(627,959)		(627,959)
			(627,959)		(627,959)
Net assets			1,039,588		1,039,898

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NIGEL GROGAN LIMITED

REGISTERED NUMBER: 02636669

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2017

	2017	2016
Note	£	£

Capital and reserves
Called up share capital	130,477	130,477
Capital redemption reserve	464,761	464,761
Profit and loss account	444,350	444,660
	1,039,588	1,039,898

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 October 2017.

N P Grogan

Director

The notes on pages 3 to 8 form part of these financial statements.

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NIGEL GROGAN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

1.Accounting policies

1.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

1.2

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

				Motor Vehicles	-	20%	Reducing balance method
				Fixtures & Fittings	-	20%	Reducing balance method

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Profit and loss account.

1.3

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and loss account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each Balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

1.4

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

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NIGEL GROGAN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

1.Accounting policies (continued)

1.5

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

1.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

1.7

Contributions to Qualifying Employee Share Ownership Trust (QUEST)

In accordance with FRS102, the contributions to QUEST are not recognised in the profit and loss account until such time as the shares best unconditionally with the employees. Until that time, the employee share ownership plan trust's investment in the shares of the holding company are shown as an investment.

1.8

Contributions to Share Incentive Plan (SIP)

In accordance with FRS102, the contributions to SIP are not recognised in the profit and loss account until such time as the shares best unconditionally with the employees. Until that time, the employee share ownership plan trust's investment in the shares of the holding company are shown as an investment.

Employees

The average monthly number of employees, including directors, during the year was 0 (2016 - 0).

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NIGEL GROGAN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

3.	Tangible fixed assets

	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£
Cost or valuation
At 1 April 2016	4,295	8,140	12,435
At 31 March 2017	4,295	8,140	12,435
Depreciation
At 1 April 2016	3,891	6,994	10,885
Charge for the year on owned assets	81	229	310
At 31 March 2017	3,972	7,223	11,195
Net book value
At 31 March 2017	323	917	1,240
At 31 March 2016	404	1,146	1,550

4.	Fixed asset investments

	Investments in Subsidiary Companies	SIP's investment in parent company shares	QUEST's investment in parent company shares	Total
	£	£	£	£
Cost or valuation
At 1 April 2016	1	1,512,808	633,150	2,145,959
At 31 March 2017	1	1,512,808	633,150	2,145,959

Net book value
At 31 March 2017	1	1,512,808	633,150	2,145,959
At 31 March 2016	1	1,512,808	633,150	2,145,959

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NIGEL GROGAN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

4.Fixed asset investments (continued)

Subsidiary undertakings
The following were subsidiary undertakings of the Company:
Name	Country of incorporation	Class of shares	Holding	Principal activity

Nigel Grogan Trustees Limited

England and Wales

Ordinary

100%

Dormant

	The aggregate of the share capital and reserves as at 31 March 2017 and of the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:
		Aggregate of share capital and reserves
		£

	Nigel Grogan Trustees Limited	1
		1

Nigel Grogan Limited established a Share Incentive Plan (SIP) and a Qualifying Employee Share Ownership trust (QUEST) to purchase shares for the benefits of the employees. At the year end there were 44,682 shares in the SIP, with a nominal value of £44,682 and 15,750 in the QUEST, with a nominal value of £15,750 the investment was £1,512,808 for the SIP and £633,150 for the QUEST.

Debtors

					2017	2016
					£	£


Amounts owed by group undertakings	49,086	49,086
	49,086	49,086

6.	Creditors: Amounts falling due within one year
		2017	2016
		£	£

Amounts owed to group undertakings	493,921	493,921
Other creditors	34,817	34,817
	528,738	528,738

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NIGEL GROGAN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

7.	Deferred taxation

		2017
		£

	At beginning of year	627,959
	At end of year	627,959

The provision for deferred taxation is made up as follows:
	2017	2016
	£	£

QUEST Deferred Tax	190,000	190,000
SIP Contribution Deferred Tax	437,959	437,959
	627,959	627,959

8.	Related party transactions
	At the year end the following amounts were due from (to) related parties:

		2017	2016
		£	£

Entities which have control, joint control or significant influence over the entity	49,086	49,086
Other related parties	(493,921)	(493,921)
	(444,835)	(444,835)

9.	Controlling party

The ultimate parent undertaking is Hyde Holdings Limited, a company incorporated in England and Wales

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NIGEL GROGAN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

10.	First time adoption of FRS 102 The policies applied under the entity's previous accounting framework are not materially different to FRS 102 and have not impacted on equity or profit or loss.

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