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Company Registration No. SC576674 (Scotland)
Grow and Thrive Limited Unaudited accounts for the year ended 31 March 2023
Grow and Thrive Limited Unaudited accounts Contents
Page
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Grow and Thrive Limited Company Information for the year ended 31 March 2023
Directors
Judith Philip Katy Laing Lois Frances Cameron James Dearie
Company Number
SC576674 (Scotland)
Registered Office
Room 18, Haypark Business Centre Marchmonth Avenue Polmont Falkirk FK2 0NZ
Accountants
Armet Accounting Ltd Room 31 Haypark Business Centre Polmont FK2 0NZ
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Grow and Thrive Limited Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
- 
912 
Tangible assets
5,562 
8,370 
5,562 
9,282 
Current assets
Debtors
18,602 
13,657 
Cash at bank and in hand
17,282 
12,634 
35,884 
26,291 
Creditors: amounts falling due within one year
(39,437)
(27,655)
Net current liabilities
(3,553)
(1,364)
Total assets less current liabilities
2,009 
7,918 
Creditors: amounts falling due after more than one year
- 
(4,980)
Provisions for liabilities
Deferred tax
(684)
(1,112)
Net assets
1,325 
1,826 
Reserves
Profit and loss account
1,325 
1,826 
Members' funds
1,325 
1,826 
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 13 November 2023 and were signed on its behalf by
Katy Laing Director Company Registration No. SC576674
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Grow and Thrive Limited Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
Grow and Thrive Limited is a private company, limited by guarantee, registered in Scotland, registration number SC576674. The registered office is Room 18, Haypark Business Centre, Marchmonth Avenue, Polmont, Falkirk, FK2 0NZ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Intangible fixed assets
Goodwill being the amount paid in acquisition of a business in 2017, is being amortised over its useful life of 10 years.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
3 Years Straight Line
Fixtures & fittings
4 Years Straight Line
Computer equipment
4 Years Straight Line
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Grow and Thrive Limited Notes to the Accounts for the year ended 31 March 2023
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 April 2022
9,111 
At 31 March 2023
9,111 
Amortisation
At 1 April 2022
8,199 
Charge for the year
912 
At 31 March 2023
9,111 
Net book value
At 31 March 2023
- 
At 31 March 2022
912 
5
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 April 2022
2,286 
6,420 
10,067 
18,773 
Additions
- 
- 
1,432 
1,432 
At 31 March 2023
2,286 
6,420 
11,499 
20,205 
Depreciation
At 1 April 2022
1,834 
4,157 
4,412 
10,403 
Charge for the year
452 
856 
2,932 
4,240 
At 31 March 2023
2,286 
5,013 
7,344 
14,643 
Net book value
At 31 March 2023
- 
1,407 
4,155 
5,562 
At 31 March 2022
452 
2,263 
5,655 
8,370 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
18,602 
13,382 
Accrued income and prepayments
- 
275 
18,602 
13,657 
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Grow and Thrive Limited Notes to the Accounts for the year ended 31 March 2023
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
4,380 
- 
Taxes and social security
2,291 
(1,441)
Other creditors
22 
1,804 
Loans from directors
19,230 
11,934 
Accruals
480 
4,445 
Deferred income
13,034 
10,913 
39,437 
27,655 
Directors loans to the company of £18,967 (prior period £11,934) are included in creditors due within one year. The loans are unsecured and provided on an interest free basis.
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Other creditors
- 
4,980 
Creditors falling due after more than one year in prior year represented an unsecured loan balance, which is no longer payable.
9
Deferred taxation
2023 
2022 
£ 
£ 
Accelerated capital allowances
684 
1,112 
2023 
2022 
£ 
£ 
Provision at start of year
1,112 
1,382 
Credited to the profit and loss account
(428)
(270)
Provision at end of year
684 
1,112 
10
Company limited by guarantee
The company is limited by guarantee and has no share capital. Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
11
Operating lease commitments
2023 
2022 
£ 
£ 
At 31 March 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
11,587 
12,678 
12
Average number of employees
During the year the average number of employees was 3 (2022: 3).
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