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Company No: 10694728 (England and Wales)

SPROUT ADVISORY LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

SPROUT ADVISORY LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

SPROUT ADVISORY LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
SPROUT ADVISORY LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 38,795 185
38,795 185
Current assets
Debtors 4 66,620 712
Cash at bank and in hand 30,027 95,671
96,647 96,383
Creditors: amounts falling due within one year 5 ( 16,122) ( 6,533)
Net current assets 80,525 89,850
Total assets less current liabilities 119,320 90,035
Provision for liabilities ( 2,275) 0
Net assets 117,045 90,035
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account 116,945 89,935
Total shareholders' funds 117,045 90,035

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Sprout Advisory Limited (registered number: 10694728) were approved and authorised for issue by the Board of Directors on 29 July 2024. They were signed on its behalf by:

Mark John Fowle
Director
SPROUT ADVISORY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
SPROUT ADVISORY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Sprout Advisory Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Bishop Fleming Llp, 10 North Place, Cheltenham, GL50 4DW, United Kingdom. The principal place of business is Brocket Green, Rhinefield Road, Brockenhurst, SO42 7SR.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
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 financial statements. 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.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Vehicles 4 years straight line
Computer equipment 3 years straight line
Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 1 1

3. Tangible assets

Vehicles Computer equipment Total
£ £ £
Cost
At 01 April 2023 0 2,099 2,099
Additions 38,795 0 38,795
At 31 March 2024 38,795 2,099 40,894
Accumulated depreciation
At 01 April 2023 0 1,914 1,914
Charge for the financial year 0 185 185
At 31 March 2024 0 2,099 2,099
Net book value
At 31 March 2024 38,795 0 38,795
At 31 March 2023 0 185 185

4. Debtors

2024 2023
£ £
Amounts owed by connected companies 60,553 409
Amounts owed by directors 6,067 0
VAT recoverable 0 303
66,620 712

5. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to directors 0 4,681
Accruals 1,850 1,852
Other taxation and social security 14,272 0
16,122 6,533

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
50 B Ordinary shares of £ 1.00 each 50 50
50 A Ordinary shares of £ 1.00 each 50 50
100 100

7. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Dividends to directors 0 4,000

At the balance sheet date an amount of £6,067 (2023: £4,681 owed by the company to a director) was owed by a director to the company. Interest has been charged at 2.25% on the overdrawn amount and the loan is repayable on demand.