Registered number
04171977
Strive Group Limited
Filleted Accounts
31 March 2024
Strive Group Limited
Registered number: 04171977
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 - 11,000
Tangible assets 4 94,899 105,661
Investments 5 76 76
94,975 116,737
Current assets
Debtors 6 683,934 360,224
Cash at bank and in hand 3,817,192 2,380,075
4,501,126 2,740,299
Creditors: amounts falling due within one year 7 (717,377) (567,936)
Net current assets 3,783,749 2,172,363
Total assets less current liabilities 3,878,724 2,289,100
Creditors: amounts falling due after more than one year 8 (3,582,148) (2,054,147)
Provisions for liabilities (22,608) (14,955)
Net assets 273,968 219,998
Capital and reserves
Called up share capital 100 100
Share capital redemption 200 200
Profit and loss account 273,668 219,698
Shareholders' funds 273,968 219,998
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 his 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.
Alistair Cameron Grant
Director
Approved by the board on 12 August 2024
Strive Group Limited
Notes to the Accounts
for the year ended 31 March 2024
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 (as applied to small entities by section 1A of the standard).
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 60 58
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 11,000
At 31 March 2024 11,000
Amortisation
Provided during the year 11,000
At 31 March 2024 11,000
Net book value
At 31 March 2024 -
At 31 March 2023 11,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2023 112,427 243,029 355,456
Additions - 52,144 52,144
At 31 March 2024 112,427 295,173 407,600
Depreciation
At 1 April 2023 85,476 164,319 249,795
Charge for the year 22,485 40,421 62,906
At 31 March 2024 107,961 204,740 312,701
Net book value
At 31 March 2024 4,466 90,433 94,899
At 31 March 2023 26,951 78,710 105,661
5 Investments
Other
investments
£
Cost
At 1 April 2023 76
At 31 March 2024 76
6 Debtors 2024 2023
£ £
Trade debtors 494,506 173,356
Other debtors 189,428 186,868
683,934 360,224
7 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Obligations under finance lease and hire purchase contracts 10,499 10,499
Trade creditors 61,483 30,380
Taxation and social security costs 350,493 273,885
Other creditors 284,902 243,172
717,377 567,936
8 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 16,667 26,667
Obligations under finance lease and hire purchase contracts 8,749 19,248
Other creditors 3,556,732 2,008,232
3,582,148 2,054,147
9 Other information
Strive Group Limited is a private company limited by shares and incorporated in England. Its registered office is:
12a Montpellier Parade
Harrogate
North Yorkshire
HG1 2TJ
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