Registered number
09147872
Growth 4 Businesses Limited
Report and Accounts
31 July 2023
Accountancy 4 Wealth Limited
Accountants and Business Advisors
33 Wolverhampton Road
Cannock
Staffordshire
WS11 1AP
Growth 4 Businesses Limited
Registered number: 09147872
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Investments 4 1,306 1,306
Current assets
Debtors 5 634,747 1,379,618
Cash at bank and in hand 65,790 18,818
700,537 1,398,436
Creditors: amounts falling due within one year 6 (650,656) (1,313,444)
Net current assets 49,881 84,992
Net assets 51,187 86,298
Capital and reserves
Called up share capital 1,300 1,300
Profit and loss account 49,887 84,998
Shareholders' funds 51,187 86,298
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
I Beech
Director
Approved by the board on 8 November 2023
Growth 4 Businesses Limited
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 August 2022 170,000
At 31 July 2023 170,000
Amortisation
At 1 August 2022 170,000
At 31 July 2023 170,000
Net book value
At 31 July 2023 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 August 2022 1,306
At 31 July 2023 1,306
Investment in subsidiaries represents shareholdings in the following companies:
Company Shares held
Class %
Accountancy 4 Wealth Limited Ordinary 100
Accountancy 4 Success Limited Ordinary 100
Accountancy 4 Tax Savings Limited Ordinary 100
Growth 4 Accountancy Collections Limited Ordinary 100
Growth 4 Employment Services Limited Ordinary 100
Legal4growth Limited Ordinary 100
5 Debtors 2023 2022
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 634,718 1,379,599
Other debtors 29 19
634,747 1,379,618
6 Creditors: amounts falling due within one year 2023 2022
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest - 710,130
Other taxes and social security costs 20,504 20,580
Other creditors 630,152 582,734
650,656 1,313,444
7 Related party transactions
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.
8 Controlling party
The ultimate controlling company is Manila Enterprises Ltd, a company incorporated in the UK.
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