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Registration number: 09689672

Girl Rona Holdings Limited

Annual Report and Unaudited Financial Statements

for the Period from 1 September 2022 to 31 December 2023

 

Girl Rona Holdings Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Girl Rona Holdings Limited

(Registration number: 09689672)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

4

918,640

918,640

Current assets

 

Debtors

5

127

230

Cash at bank and in hand

 

37

28

 

164

258

Creditors: Amounts falling due within one year

6

(854,083)

(901,306)

Net current liabilities

 

(853,919)

(901,048)

Total assets less current liabilities

 

64,721

17,592

Creditors: Amounts falling due after more than one year

6

(32,854)

(78,964)

Net assets/(liabilities)

 

31,867

(61,372)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

31,767

(61,472)

Shareholders' funds/(deficit)

 

31,867

(61,372)

For the financial period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 16 July 2024 and signed on its behalf by:
 

.........................................
A D J Spear
Director

   
     

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period 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.

 

Girl Rona Holdings Limited

Notes to the Unaudited Financial Statements for the Period from 1 September 2022 to 31 December 2023

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:
Coombe Fisheries
Riverside Road
Pottington Business Park
Barnstaple
Devon
EX31 1QN

These financial statements were authorised for issue by the Board on 16 July 2024.

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 have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

The financial statements are prepared in sterling, which is the functional currency of the company, and rounded to the nearest £.

Going concern

The directors have reviewed the supply chains, key customers and the capital resources available and consider that the company has adequate resources in place to continue trading for the forseeable future. Therefore, these accounts have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Girl Rona Holdings Limited

Notes to the Unaudited Financial Statements for the Period from 1 September 2022 to 31 December 2023

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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

Staff numbers

The average number of persons employed by the company (including directors) during the period was 3 (2022 - 3).

4

Investments

2023
£

2022
£

Investments in subsidiaries

918,640

918,640

Subsidiaries

£

Cost

At 31 August 2021 and 31 August 2022

918,640

Carrying amount

At 31 August 2022 and 31 August 2022

918,640

 

Girl Rona Holdings Limited

Notes to the Unaudited Financial Statements for the Period from 1 September 2022 to 31 December 2023

5

Debtors

2023
£

2022
£

Other debtors

32

32

Prepayments

95

198

127

230

6

Creditors

Due within one year

Note

2023
£

2022
£

 

Loans and borrowings

7

34,662

33,301

Trade creditors

 

-

5,826

Amounts owed to group undertakings and undertakings in which the company has a participating interest

8

816,954

860,684

Accruals

 

2,467

1,495

 

854,083

901,306

Due after one year

 

Loans and borrowings

7

32,854

78,964

7

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

32,854

78,964

Current loans and borrowings

2023
£

2022
£

Bank borrowings

34,662

33,301

 

Girl Rona Holdings Limited

Notes to the Unaudited Financial Statements for the Period from 1 September 2022 to 31 December 2023

8

Related party transactions

Summary of transactions with parent

Coombefish Holdings Ltd became the parent company during the year ended 31 December 2023.
 Interest is payable on the loan from the parent company at a rate of the Bank of England base rate plus 3%.
 

Expenditure with and payables to related parties

2022

Parent
£

Subsidiary
£

Other related parties
£

Purchase of goods

238

-

13

Amounts payable to related party

523

5,290

13

Loans from related parties

2023

Parent
£

Subsidiary
£

Total
£

At start of period

-

860,684

860,684

Advanced

382,136

54,134

436,270

Repaid

-

(480,000)

(480,000)

At end of period

382,136

434,818

816,954

2022

Subsidiary
£

Total
£

At start of period

817,654

817,654

Advanced

43,030

43,030

At end of period

860,684

860,684

9

Parent and ultimate parent undertaking

The company's immediate parent is Coombefish Holdings Ltd (formerly Spearco Limited), incorporated in England and Wales.

 The ultimate controlling parties in the period to 30 March 2023 were A D J Spear, R A C Spear and I J Spear. From 31 March 2023, the ultimate controlling parties were A D J Spear and R A C Spear. On 21 June 2023, A D J Spear became the ultimate controlling party..