Company Registration No. 10857123 (England and Wales)
BETTER GROWTH VENTURES LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
PAGES FOR FILING WITH REGISTRAR
BETTER GROWTH VENTURES LTD
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
BETTER GROWTH VENTURES LTD
STATEMENT OF FINANCIAL POSITION
AS AT
31 JULY 2023
31 July 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
359
450
Current assets
Cash at bank and in hand
1,913
2,268
Creditors: amounts falling due within one year
(2,187)
(2,000)
Net current (liabilities)/assets
(274)
268
Net assets
85
718
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(15)
618
Total equity
85
718

In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The director of the company has elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 21 September 2023
Mr A Wales
Director
Company registration number 10857123 (England and Wales)
BETTER GROWTH VENTURES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
- 2 -
1
Accounting policies
Company information

Better Growth Ventures Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Office 43, The Cobalt Building, 1600 Eureka Park, Lower Pemberton, Ashford, Kent, TN25 4BF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Equipment
20% - reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

BETTER GROWTH VENTURES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
1
Accounting policies
(Continued)
- 3 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
1
BETTER GROWTH VENTURES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 4 -
4
Tangible fixed assets
Equipment
£
Cost
At 1 August 2022 and 31 July 2023
1,322
Depreciation and impairment
At 1 August 2022
873
Depreciation charged in the year
90
At 31 July 2023
963
Carrying amount
At 31 July 2023
359
At 31 July 2022
450
5
Directors' transactions

Dividends totalling £0 (2022 - £2,000) were paid in the year in respect of shares held by the company's directors.

Description
Opening balance
Closing balance
£
£
Mr A Wales -
(2,000)
(2,000)
(2,000)
(2,000)
2023-07-31 2022-08-01 false CCH Software CCH Accounts Production 2023.200 No description of principal activity Mr A Wales 10857123 2022-08-01 2023-07-31 10857123 2023-07-31 10857123 2022-07-31 10857123 core:ComputerEquipment 2023-07-31 10857123 core:ComputerEquipment 2022-07-31 10857123 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 10857123 core:CurrentFinancialInstruments core:WithinOneYear 2022-07-31 10857123 core:ShareCapital 2023-07-31 10857123 core:ShareCapital 2022-07-31 10857123 core:RetainedEarningsAccumulatedLosses 2023-07-31 10857123 core:RetainedEarningsAccumulatedLosses 2022-07-31 10857123 bus:Director1 2022-08-01 2023-07-31 10857123 core:ComputerEquipment 2022-08-01 2023-07-31 10857123 2021-08-01 2022-07-31 10857123 core:ComputerEquipment 2022-07-31 10857123 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 10857123 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 10857123 bus:FRS102 2022-08-01 2023-07-31 10857123 bus:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 10857123 bus:FullAccounts 2022-08-01 2023-07-31 xbrli:pure xbrli:shares iso4217:GBP