Ruttle Plant (North East) Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 05193903 (England and Wales)

Ruttle Plant (North East) Limited

Financial Statements

for the Year Ended 30 September 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

GH Ruttle

SECRETARY:

N Deal

REGISTERED OFFICE:

Lancaster House

Ackhurst Road

Chorley

Lancashire

PR7 1NH

REGISTERED NUMBER:

05193903 (England and Wales)

AUDITORS:

McMillan & Co LLP

Chartered Accountants and

Statutory Auditor

28 Eaton Avenue

Matrix Office Park

Buckshaw Village

Chorley

Lancashire

PR7 7NA

CURRENT ASSETS

Stocks

2,444,075

3,015,179

Debtors

3

-

94,201

2,444,075

3,109,380

CREDITORS

Amounts falling due within one year

4

4,005,517

3,075,511

NET CURRENT (LIABILITIES)/ASSETS

(1,561,442

)

33,869

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,561,442

)

33,869

CREDITORS

Amounts falling due after more than one year

5

-

900,000

NET LIABILITIES

(1,561,442

)

(866,131

)

CAPITAL AND RESERVES

Called up share capital

7

2

2

Retained earnings

(1,561,444

)

(866,133

)

SHAREHOLDERS' FUNDS

(1,561,442

)

(866,131

)

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 director on 26 June 2018 and were signed by:

GH Ruttle - Director

1.	STATUTORY INFORMATION

Ruttle Plant (North East) 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 (£).

The amounts in the financial statements have been rounded to the nearest £1.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A

These financial statements for the year ended 30 September 2017 are the first that are prepared in

accordance with FRS 102 Section 1A. The previous financial statements were prepared in accordance

with UK GAAP, the date of transition to FRS 102 Section 1A is 1 October 2015.

Going concern

At the balance sheet date the company had an excess of liabilities over assets. The financial

statements have been prepared on a going concern basis as the parent company Groco HR Holdco

Limited, has confirmed that the group will continue to provide financial support to the company for the

foreseeable future.

Stocks

The value of work in progress is the direct costs and attributable overheads to date of development

projects. Provisions are made for foreseeable losses and no profit element is included in the valuation.

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.

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.

3.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Deferred tax asset

-

94,201

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Amounts owed to group undertakings

4,000,771

3,070,765

Accrued expenses

4,746

4,746

4,005,517

3,075,511

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Amounts owed to group undertakings

-

900,000

6.	SECURED DEBTS

There was a guarantee, given by Ruttle Plant Holdings Limited, in favour of Lloyds Bank PLC, covering

the assets of Ruttle Plant (North East) Limited.

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

1

Ordinary "A"

£1

1

1

1

Ordinary "B"

£1

1

1

2

2

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Neil McMillan FCA (Senior Statutory Auditor)

for and on behalf of McMillan & Co LLP

9.	RELATED PARTY DISCLOSURES

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.

In the opinion of the directors the company is controlled by the directors of the ultimate parent

company Groco HR Holdco Limited.

10.	ULTIMATE CONTROLLING PARTY

The ultimate parent company from 1 October 2015 to 23 December 2015 was Ruttle Plant Holdings

Limited, a company incorporated in the United Kingdom.

On 24 December 2015, a share for share exchange took place, which saw Groco HR Holdco Limited,

a company incorporated in the United Kingdom, become the 100% shareholder of Ruttle Plant

Holdings Limited and therefore the company's ultimate parent company from that date.

The company is ultimately controlled by the directors of the ultimate parent company.

11.	FIRST YEAR ADOPTION

This is the first year in which the company has adopted FRS102, the transition date being 1 October

2015. The director has reviewed in detail the requirements of FRS102 and having considered all

aspects of the company's accounting policies, the director is to confirm that there were no adjustments

necessary to any comparative amounts and no changes in accounting policies as a result of the

transition to FRS102.