COMPANY REGISTRATION NUMBER:
07725087
G T P (MIDLANDS) HOLDINGS LIMITED
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FILLETED UNAUDITED FINANCIAL STATEMENTS
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G T P (MIDLANDS) HOLDINGS LIMITED
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YEAR ENDED 30 SEPTEMBER 2017
Statement of financial position
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1
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Notes to the financial statements
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2 to 4
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G T P (MIDLANDS) HOLDINGS LIMITED
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STATEMENT OF FINANCIAL POSITION
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30 September 2017
Fixed assets
Current assets
Creditors: amounts falling due within one year
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6
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(
200)
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(
200)
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---------
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--------
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Net current assets
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108,349
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66,349
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---------
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--------
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Total assets less current liabilities
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108,549
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66,549
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---------
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--------
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Capital and reserves
Called up share capital
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200
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200
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Profit and loss account
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108,349
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66,349
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---------
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--------
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Shareholders funds
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108,549
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66,549
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---------
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--------
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These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the 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:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
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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 financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
7 September 2018
, and are signed on behalf of the board by:
Company registration number:
07725087
G T P (MIDLANDS) HOLDINGS LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
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YEAR ENDED 30 SEPTEMBER 2017
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 8 Woodland Road, Stanton, Burton-on-Trent, DE15 9TH.
The principal activity of the company during the year was that of a holding company.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis
.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 October 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 9.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. (i) Estimated useful lives and residual values of fixed assets Depreciation of tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take into account estimated useful lives used by other companies operating in the sector and actual asset lives and residual values, as evidenced by disposals during the current and prior accounting periods.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
4.
Investments
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Shares in group undertakings
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£
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Cost
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At 1 October 2016 and 30 September 2017
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200
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----
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Impairment
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At 1 October 2016 and 30 September 2017
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–
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----
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Carrying amount
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At 30 September 2017
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200
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----
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At 30 September 2016
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200
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----
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The company owns 100% of the issued Ordinary share capital of the companies listed below;
Aggregate capital and reserves
Global Timber Products Limited
R M Birch Haulage (2011) Limited
Profit and (loss) for the year
Global Timber Products Limited
R M Birch Haulage (2011) Limited
The principal activity of Global Timber Products Limited during the year was that of a timber merchants.
R M Birch Haulage (2011) Limited was dormant during the year.
5.
Debtors
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2017
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2016
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£
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£
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Amounts owed by group undertakings and undertakings in which the company has a participating interest
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108,349
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66,349
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Other debtors
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200
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200
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---------
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108,549
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66,549
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---------
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Amounts owed to group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand
.
6.
Creditors:
amounts falling due within one year
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2017
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2016
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£
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£
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Other creditors
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200
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200
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----
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----
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There is a fixed and floating charge dated 30 October 2014 in favour of The Royal Bank of Scotland Plc over all the assets of the company.
7.
Events after the end of the reporting period
There were no significant events up to the date of approval of the financial statements by the board
.
8.
Related party transactions
All transactions undertaken with the directors are deemed to be conducted under normal market conditions and/or are not material. The company has taken advantage of the exemption from the disclosures according to FRS 102 Section 33.1A, regarding the transactions between fellow group companies, where the subsidiary party to the transaction is wholly owned by such a member.
9.
Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 October 2015.
No transitional adjustments were required in equity or profit or loss for the year.