Oddfellows Holdings Ltd - Limited company accounts 17.3

REGISTERED NUMBER: 09280083 (England and Wales)

Report of the Directors and

Unaudited Financial Statements

for the Year Ended 31 March 2017

for

Oddfellows Holdings Ltd

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DIRECTORS:

D D McGeorge

J W Slater

B A Baldrey

REGISTERED OFFICE:

Eccleston Hill House

Hill Road

Eccleston

Chester

Cheshire

CH4 9HG

REGISTERED NUMBER:

09280083 (England and Wales)

ACCOUNTANTS:

Attwoods

Suite 12

Abney Hall

Manchester Road

Cheadle

Stockport

SK8 2PD

The directors present their report with the financial statements of the company for the year ended 31 March 2017.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of a non trading parent of mainly trading

subsidiaries and this role started from 24th October 2014.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2016 to the date of this report.

D D McGeorge

J W Slater

B A Baldrey

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

D D McGeorge - Director

14 July 2017

TURNOVER

-

-

Administrative expenses

2,886

12,945

OPERATING LOSS and

LOSS BEFORE TAXATION

(2,886

)

(12,945

)

Tax on loss

-

-

LOSS FOR THE FINANCIAL YEAR

(2,886

)

(12,945

)

FIXED ASSETS

Investments

3

302

302

CURRENT ASSETS

Debtors

4

5,276,138

3,487,244

Cash at bank and in hand

195

521

5,276,333

3,487,765

CREDITORS

Amounts falling due within one year

5

292,456

1,002

NET CURRENT ASSETS

4,983,877

3,486,763

TOTAL ASSETS LESS CURRENT LIABILITIES

4,984,179

3,487,065

CREDITORS

Amounts falling due after more than one year

6

2,899,930

2,899,930

NET ASSETS

2,084,249

587,135

CAPITAL AND RESERVES

Called up share capital

400

100

Share premium

2,099,680

599,980

Retained earnings

(15,831

)

(12,945

)

SHAREHOLDERS' FUNDS

9

2,084,249

587,135

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

The financial statements were approved by the Board of Directors on 14 July 2017 and were signed on its behalf by:

D D McGeorge - Director

J W Slater - Director

1.	STATUTORY INFORMATION

Oddfellows Holdings Ltd 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.

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.

Related party exemption

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.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2016

and 31 March 2017

302

NET BOOK VALUE

At 31 March 2017

302

At 31 March 2016

302

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Amounts owed by group undertakings

5,276,128

3,440,230

Other debtors

10

10

VAT

-

47,004

5,276,138

3,487,244

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Amounts owed to group undertakings

90,527

2

VAT

199,929

-

Accrued expenses

2,000

1,000

292,456

1,002

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.17

31.3.16

£

£

Investor loan

600,000

600,000

Founder loan - D D McGeorge

1,149,965

2,299,930

Founder loan - A K McGeorge

1,149,965

-

2,899,930

2,899,930

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Investor loan

600,000

600,000

Founder loan - D D McGeorge

1,149,965

2,299,930

Founder loan - A K McGeorge

1,149,965

-

2,899,930

2,899,930

7.	RELATED PARTY DISCLOSURES

During the year there were two separate capital call transactions whereby Mango River Limited, D D McGeorge

and A K McGeorge all subscribed for additional 'B' class shares in the company.

The first transaction took place in June 2016 where a further 100 'B' shares were issued at a premium of £10,000

per share. The second transaction took place in January 2017 where a further 200 'B' shares were issued at a

premium of £2,500 per share.

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are D D McGeorge, director and B A Baldrey, director of Mango River Limited

by virtue of their rights and responsibilities under the shareholders agreement.

9.	RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS

31.3.17

31.3.16

£

£

Loss for the financial year

(2,886

)

(12,945

)

New share capital subscribed

300

100

Share premium

1,499,700

599,980

Net addition to shareholders' funds

1,497,114

587,135

Opening shareholders' funds

587,135

-

Closing shareholders' funds

2,084,249

587,135