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Groco HR Holdco Limited |
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Financial Statements |
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for the Year Ended 30 September 2018 |
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REGISTERED NUMBER:
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Groco HR Holdco Limited |
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Financial Statements |
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for the Year Ended 30 September 2018 |
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Groco HR Holdco Limited (Registered number: 09826969) |
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Contents of the Financial Statements |
for the year ended 30 September 2018 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Groco HR Holdco Limited |
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Company Information |
for the year ended 30 September 2018 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Chartered Accountants and |
Statutory Auditor |
28 Eaton Avenue |
Matrix Office Park |
Buckshaw Village |
Chorley |
Lancashire |
PR7 7NA |
Groco HR Holdco Limited (Registered number: 09826969) |
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Balance Sheet |
30 September 2018 |
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2018 | 2017 |
as restated |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 3 |
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Investment property | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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Share premium | 9 |
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Retained earnings | 9 |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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Groco HR Holdco Limited (Registered number: 09826969) |
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Notes to the Financial Statements |
for the year ended 30 September 2018 |
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1. | STATUTORY INFORMATION |
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Groco HR Holdco Limited is a
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The company's registered number and registered office address can be found on the Company |
Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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The amounts in the financial statements have been rounded to the nearest £1. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from |
changes in fair value is recognised in profit or loss. |
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In accordance with FRS 102, certain of the company's properties are held for long-term investment |
and are included in the Balance Sheet at their open market values. The surplus or deficit on |
revaluation of such properties are transferred to the investment property revaluation reserve. |
Depreciation is not provided in respect of freehold investment properties. This policy represents a |
departure from the requirements of the Companies Act, which requires depreciation to be provided on |
all fixed assets. The directors consider that this policy is necessary in order that the Financial |
Statements may give a true and fair view because current values and changes in current values are of |
prime importance rather than the calculation of systematic annual depreciation. Depreciation is only |
one of many factors reflected in the valuation and the amount which might otherwise have been shown |
cannot be separately identified or quantified. |
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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. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Groco HR Holdco Limited (Registered number: 09826969) |
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Notes to the Financial Statements - continued |
for the year ended 30 September 2018 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
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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. |
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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. |
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Investments |
Investments are stated at cost. |
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3. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
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COST |
At 1 October 2017 |
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Additions |
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Disposals | ( |
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At 30 September 2018 |
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NET BOOK VALUE |
At 30 September 2018 |
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At 30 September 2017 |
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4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 October 2017 |
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Additions |
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Disposals | ( |
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At 30 September 2018 |
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DEPRECIATION |
At 1 October 2017 | 100,000 |
Eliminated on disposal | (100,000 | ) |
At 30 September 2018 | - |
NET BOOK VALUE |
At 30 September 2018 |
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At 30 September 2017 |
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Groco HR Holdco Limited (Registered number: 09826969) |
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Notes to the Financial Statements - continued |
for the year ended 30 September 2018 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
as |
restated |
£ | £ |
Amounts owed by group undertakings |
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Vat account | 1,000 | 300 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
as |
restated |
£ | £ |
Trade creditors |
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Due to related parties | 5,000 | - |
Accruals and deferred income |
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7. | SECURED DEBTS |
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There is a cross guarantee and debenture between Blackthorn Estates Limited, Contract Services |
(Millennium) Limited, Groco Holdco 1 Limited, Groco Newco 7 Limited, Ruttle Construction Limited, |
Ruttle Plant (Birmingham) Limited, Ruttle Plant (North East) Limited, Ruttle Plant Holdings Limited |
dated 11 March 2016. |
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8. | CALLED UP SHARE CAPITAL |
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Number : | Class : | Nominal Value : | 2018 | 2017 |
£ | £ |
4,005 | Ordinary | £1 | 4,005 | 4,000 |
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During the year 4 additional Ordinary shares were issued at a premium of £24,971. |
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The 4,004 original Ordinary shares were then redesignated into A-H shares, which were later cancelled |
via a capital reduction. |
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One additional H Ordinary share was issued at a premium of £7,499 which was later reclassified as an |
Ordinary share. |
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4,004 Ordinary shares were then issued at par. |
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The Ordinary shares have attached to them full voting, dividend and capital distribution rights. |
Groco HR Holdco Limited (Registered number: 09826969) |
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Notes to the Financial Statements - continued |
for the year ended 30 September 2018 |
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9. | RESERVES |
Retained | Share |
earnings | premium | Totals |
£ | £ | £ |
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At 1 October 2017 |
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1,422,955 |
Profit for the year |
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Dividends | ( |
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Cash share issue | - | 32,470 | 32,470 |
Cancellation of shares | 24,971 | (24,971 | ) | - |
At 30 September 2018 |
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533,512 |
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10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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11. | RELATED PARTY DISCLOSURES |
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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. |
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12. | ULTIMATE CONTROLLING PARTY |
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On 13 September 2018 a transaction took place which resulted in Groco Holdco 1 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. |
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The company is ultimately controlled by G H Ruttle, the director of the ultimate parent company. |