GROWTH HQ LTD
Registered number: 13002986
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 10,153 7,120
Current assets
Debtors 4 156,709 149,350
Cash at bank and in hand 217,724 140,353
374,433 289,703
Creditors: amounts falling due within one year 5 (83,291) (77,969)
Net current assets 291,142 211,734
Net assets 301,295 218,854
Capital and reserves
Called up share capital 1 1
Profit and loss account 301,294 218,853
Shareholders' funds 301,295 218,854
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.
Inez MIEDEMA Firuj ALI
Director Director
Approved by the board on 8 April 2024
GROWTH HQ LTD
Notes to the Accounts
for the year ended 30 November 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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 10 10
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 December 2022 1,429 7,592 9,021
Additions 2,070 4,718 6,788
At 30 November 2023 3,499 12,310 15,809
Depreciation
At 1 December 2022 258 1,643 1,901
Charge for the year 624 3,131 3,755
At 30 November 2023 882 4,774 5,656
Net book value
At 30 November 2023 2,617 7,536 10,153
At 30 November 2022 1,171 5,949 7,120
4 Debtors 2023 2022
£ £
Trade debtors 67,353 51,187
Prepayments 66,242 91,660
Accrued income 17,029 -
Other taxes and social security - 785
Rent deposit 6,085 4,105
Other debtors - 1,613
156,709 149,350
5 Creditors: amounts falling due within one year 2023 2022
£ £
Accruals 448 11,860
Trade creditors 1,579 -
Directors loan account 92 92
Corporation tax 55,104 56,714
Other taxes and social security costs 24,943 8,700
Pensions payable 1,125 603
83,291 77,969
6 Other information
GROWTH HQ LTD is a private company limited by shares and incorporated in England. Its registered office is:
Venaspace - Wilson House
Lorne Park Road
Bournemouth
England
BH1 1JN
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