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Registered number: 10853341









GLOBAL GROWTH CAPITAL ADVISORS LIMITED









FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
GLOBAL GROWTH CAPITAL ADVISORS LIMITED
 
 
COMPANY INFORMATION


Directors
H Patel 
A Lodowicks 




Registered number
10853341



Registered office
Longbow House
14-20 Chiswell Street

London

England

EC1Y 4TW




Independent auditors
Ecovis Wingrave Yeats LLP
Chartered Accountants & Statutory Auditor

3rd Floor, Waverley House

7 - 12 Noel Street

London

W1F 8GQ





 
GLOBAL GROWTH CAPITAL ADVISORS LIMITED
 

CONTENTS



Page
Balance Sheet
 
1
Notes to the Financial Statements
 
2 - 6

 
GLOBAL GROWTH CAPITAL ADVISORS LIMITED
REGISTERED NUMBER: 10853341

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 3 
-
982

  
-
982

Current assets
  

Debtors: amounts falling due within one year
 4 
149,169
327,498

Cash at bank and in hand
  
812,240
395,416

  
961,409
722,914

Creditors: amounts falling due within one year
 6 
(605,293)
(228,502)

Net current assets
  
 
 
356,116
 
 
494,412

Total assets less current liabilities
  
356,116
495,394

  

Net assets
  
356,116
495,394


Capital and reserves
  

Called up share capital 
 7 
7,500
7,500

Profit and loss account
  
348,616
487,894

  
356,116
495,394


The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 August 2024.




H Patel
A Lodowicks
Director
Director

The notes on pages 2 to 6 form part of these financial statements.
Page 1

 
GLOBAL GROWTH CAPITAL ADVISORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Global Growth Capital Advisors Limited is a private company, limited by shares, incorporated in England and Wales, registration number 10853341. The registered address is Longbow House, 14-20 Chiswell Street, London, England, EC1Y 4TW. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Company reported a loss for the year of £139,278 (2022 - profit of £237,668) and at the year end the Company had net assets of £356,116 (2022 - £495,394).  

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Investment fund management income is initially recognised as accrued income and subsequently reversed out at the end of every quarter upon the invoice being raised.
Legal fee income represents legal fee expenses which are recharges at cost plus 5%. These are agreed with customers in advance and are generated on an ad hoc basis.

Page 2

 
GLOBAL GROWTH CAPITAL ADVISORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
33%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 3

 
GLOBAL GROWTH CAPITAL ADVISORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.


3.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 January 2023
6,681



At 31 December 2023

6,681



Depreciation


At 1 January 2023
5,699


Charge for the year
982



At 31 December 2023

6,681



Net book value



At 31 December 2023
-



At 31 December 2022
982

Page 4

 
GLOBAL GROWTH CAPITAL ADVISORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Debtors

2023
2022
£
£


Trade debtors
5,092
4,400

Amounts owed by group undertakings
76,136
79,409

Other debtors
48,788
16,120

Prepayments and accrued income
19,153
227,569

149,169
327,498


Amounts owed by group undertakings are interest free, unsecured and repayable on demand.


5.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
29,192
137,620

Amounts owed to group undertakings
282,853
14,445

Corporation tax
-
20,487

Other taxation and social security
2,988
-

Other creditors
955
43,887

Accruals and deferred income
289,305
12,063

605,293
228,502


Amounts owed to group undertakings are interest free, unsecured and repayable on demand.


7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



7,500 (2023 - 7,500) Share Capital shares of £1.00 each
7,500
7,500

Shares rank equally for voting purposes, dividends declared and for distribution made on winding up. The shares are not redeemable. 


Page 5

 
GLOBAL GROWTH CAPITAL ADVISORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Pension commitments

The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension charge represents contributions payable by the Company to the fund and amounted to £97,420(2022 - £2,641). As at the year end £Nil (2022 - £Nil) was payable to the fund.


9.


Related party transactions

Global Growth Capital Advisors Limited has taken the exemption under FRS 102 section 33 Related Party Disclosures paragraph 33.1A, whereby the Company is not required to disclose transactions with other wholly owned subsidiaries.


10.


Controlling party

The immediate and ultimate controlling party is Rocket Internet SE, a company incorporated in Germany. Rocket Internet SE prepares consolidated accounts and these are available from the Company's registered office at Charlottenstraße 4, 10969 Berlin, Germany.


11.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 27 August 2024 by Gerard Collins (Senior Statutory Auditor) on behalf of Ecovis Wingrave Yeats LLP.

Page 6