Invest and Grow Projects Ltd
Registered number: 11218428
Statement of Financial Position
as at 29 February 2024
Notes 2024 2023
£ £
Current assets
Debtors 3 18 18
Cash at bank and in hand 817 1,171
835 1,189
Creditors: amounts falling due within one year 4 (2,288) (2,240)
Net current liabilities (1,453) (1,051)
Net liabilities (1,453) (1,051)
Capital and reserves
Called up share capital 100 100
Profit and loss account (1,553) (1,151)
Shareholders' funds (1,453) (1,051)
The director is 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 director acknowledges her 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 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.
Gabriela Herculano
Director
Approved by the board on 16 April 2024
Invest and Grow Projects Ltd
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
Going concern
The company had retained losses as at the balance sheet date which were not covered by the share capital of the company. The company is continuing to trade as the director of the company is funding the company in the form of a director’s loan. The director is planning to continue this financial support for the company for the foreseeable future.
Debtors
Short term debtors are measured at transaction 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. 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 and directors 2024 2023
Number Number
Average number of directors and persons employed by the company 1 1
3 Debtors 2024 2023
£ £
Other debtors 18 18
4 Creditors: amounts falling due within one year 2024 2023
£ £
Accruals 288 240
Other creditors 2,000 2,000
2,288 2,240
5 Other information
Invest and Grow Projects Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Top Flat
12 Hill Road
London
NW8 9QG
Invest and Grow Projects Ltd 11218428 false 2023-03-01 2024-02-29 2024-02-29 VT Final Accounts October 2023 release 2 Gabriela Herculano No description of principal activity 11218428 2022-03-01 2023-02-28 11218428 core:WithinOneYear 2023-02-28 11218428 core:ShareCapital 2023-02-28 11218428 core:RetainedEarningsAccumulatedLosses 2023-02-28 11218428 2023-03-01 2024-02-29 11218428 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 11218428 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 11218428 bus:Director40 2023-03-01 2024-02-29 11218428 1 2023-03-01 2024-02-29 11218428 2 2023-03-01 2024-02-29 11218428 countries:England 2023-03-01 2024-02-29 11218428 bus:FRS102 2023-03-01 2024-02-29 11218428 bus:FullAccounts 2023-03-01 2024-02-29 11218428 2024-02-29 11218428 core:WithinOneYear 2024-02-29 11218428 core:ShareCapital 2024-02-29 11218428 core:RetainedEarningsAccumulatedLosses 2024-02-29 11218428 2023-02-28 iso4217:GBP xbrli:pure