Goodman Grant Holdings Limited - Period Ending 2017-06-30

Registration number: 09809949

FILLETED

Goodman Grant Holdings Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2017

Thompson Jones Business Solutions Limited
Chartered Accountants
2 Heap Bridge
Bury
Lancashire
BL9 7HR

Goodman Grant Holdings Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 6

Goodman Grant Holdings Limited

Company Information

Directors

Mr Raymond Neil Goodman Mr John Maxim Grant

Registered office

Goodman House 33 Rodney Street Liverpool Merseyside L1 9JF

Accountants

Thompson Jones Business Solutions Limited Chartered Accountants 2 Heap Bridge Bury Lancashire BL9 7HR

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Goodman Grant Holdings Limited

(Registration number: 09809949)
Balance Sheet as at 30 June 2017

	Note	2017 £	2016 £
Fixed assets
Investments	3	750,001	750,001
Current assets
Debtors	4	674	278
Cash at bank and in hand		199	199
		873	477
Creditors: Amounts falling due within one year	5	(184,875)	(152)
Net current (liabilities)/assets		(184,002)	325
Total assets less current liabilities		565,999	750,326
Creditors: Amounts falling due after more than one year	5	(150,799)	(310,126)
Net assets		415,200	440,200
Capital and reserves
Called up share capital		200	200
Profit and loss account		415,000	440,000
Total equity		415,200	440,200

For the financial year ending 30 June 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	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.

Approved and authorised by the Board on 22 January 2018 and signed on its behalf by:
 

......................................... Mr Raymond Neil Goodman Director

......................................... Mr John Maxim Grant Director

The notes on pages 3 to 6 form an integral part of these financial statements.

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Goodman Grant Holdings Limited

Notes to the Financial Statements for the Year Ended 30 June 2017

1	General information

The company is a private company limited by share capital incorporated in England and Wales.

The address of its registered office is:
Goodman House
33 Rodney Street
Liverpool
Merseyside
L1 9JF

These financial statements were authorised for issue by the Board on 22 January 2018.

2	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 were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

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.

Exemption from preparing group accounts

The company has taken advantage of the exemption in section 398 of the Companies Act 2006 from the requirement to prepare consolidated financial statements, on the grounds that it is a small sized group.

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.

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Goodman Grant Holdings Limited

Notes to the Financial Statements for the Year Ended 30 June 2017

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Investments

	2017 £	2016 £
Investments in associates	750,001	750,001

Associates	£
Cost
At 1 July 2016	750,001
Carrying amount
At 30 June 2017	750,001
At 30 June 2016	750,001

Aggregate financial information of associates

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Associates
Goodman Grant Solicitors Ltd	Goodman House Rodney Street Liverpool L1 9JF	Ordinary Deferred	100%	100%
	England and Wales

The principal activity of Goodman Grant Solicitors Ltd is provider of legal services.

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Goodman Grant Holdings Limited

Notes to the Financial Statements for the Year Ended 30 June 2017

4

Debtors

	Note	2017 £	2016 £
Amounts owed by group undertakings and undertakings in which the company has a participating interest	7	-	278
Other debtors		674	-
Total current trade and other debtors		674	278

5

Creditors

	Note	2017 £	2016 £
Due within one year
Amounts owed to group undertakings and undertakings in which the company has a participating interest	7	184,875	152
Due after one year
R N Goodman - Loan notes	6	150,799	310,126

6	Loans and borrowings

	2017 £	2016 £
Non-current loans and borrowings
R N Goodman - Loan notes	150,799	310,126

7	Related party transactions

Transactions with directors

2017	At 1 July 2016 £	Advances to director £	Repayments by director £	At 30 June 2017 £
Mr John Maxim Grant
Director's loan account	152	(225,826)	225,000	(674)

Other transactions with directors

Mr R N Goodman
Unsecured Loan Notes to a value of £750,000 were issued in the favour of Mr Goodman during the year to 30 June 2016. Interest will be charged on these loan notes at 1% above bank base rate. At the balance sheet date the amount due to Mr R N Goodman was £150,799 (2016 - £310,125).

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Goodman Grant Holdings Limited

Notes to the Financial Statements for the Year Ended 30 June 2017

Summary of transactions with associates

Goodman Grant Solicitors Limited
 Goodman Grant Holdings Limited hold 100% of the shares in Goodman Grant Solicitors Limited
 Dividends to a value of £200,000 were received from Goodman Grant Solicitors Limited during the year. At the balance sheet date the amount due to Goodman Grant Solicitors Limited was £184,875 (2016 - due from - £278).
 

8	Transition to FRS 102

This is the first year that the company has presented its financial statements under Financial Reporting Standard 102 (FRS 102) issued by the Financial Reporting Council. The last financial statements under previous UK GAAP were for the year ended 30 June 2016 and the date of the transition to FRS 102 was therefore 1 July 2015. The application of FRS 102 had no material impact on the financial statements as prepared under UK GAAP. No material transitional reclassification or remeasurements were required.

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