Registered number
10831766
Global Growth Business Limited
Annual Report and Unaudited Accounts
For the year ended
31 December 2023
Global Growth Business Limited
Report and accounts
Contents
Page
Accountants' report 1
Statement of financial position 2
Notes to the financial statements 3
Global Growth Business Ltd
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Global Growth Business Ltd for the period ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Global Growth Business Ltd for the period ended 31 December 2023 which comprise of the Income Statement, Statement of Financial Position and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
icaew.com/membershandbook.
This report is made solely to the Board of Directors of Pena Global Growth Business Ltd, as a body, in accordance with the terms of our engagement letter dated 19 December 2019. Our work has been undertaken solely to prepare for your approval the accounts of Global Growth Business Ltd and state those matters that we have agreed to state to the Board of Directors of Global Growth Business Ltd, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Global Growth Business Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Global Growth Business Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Global Growth Business Ltd. You consider that Global Growth Business Ltd is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of Global Growth Business Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
MAH, Chartered Accountants
2nd Floor
154 Bishopsgate
London
EC2M 4LN
26 April 2024
Global Growth Business Limited
Registered number: 10736748
Statement of Financial Position
as at 31 December 2023
Notes 2023 2022
£ £ £ £
Fixed assets
Tangible assets 4 16,111 16,912
16,111 16,912
Current assets
Debtors 5 244,332 202,529
Cash at bank and in hand 82,834 368,365
327,166 570,894
Creditors: amounts falling due within one year 6 (254,046) (299,092)
Net current assets 73,120 271,802
Total assets less current liabilities 89,231 288,714
Net assets 89,231 288,714
Capital and reserves
Called up share capital 7 1 1
Profit and loss account 8 89,230 288,713
Total equity 89,231 288,714
The company is exempt from the requirements relating to preparing audited accounts in accordance with section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476 of the Companies Act 2006.
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.
The financial statements were authorised for issue and approved by the board on 1 October 2024 and signed on its behalf.
Giles Godwin-Brown
Director
The notes on pages 3 to 5 form part of these financial statements.
Global Growth Business Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Summary of significant accounting policies
Basis of preparation
The financial statements have been prepared in compliance with United Kingdom Accounting Standards, including Section 1A of FRS 102, "The Financial Reporting Standard applicable in the UK and Republic of Ireland" (revised March 2018) and the Companies Act 2006.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes platform fees and commission fees earned from the rendering of market research consultancy services.

Turnover from the rendering of services is recognised by reference to the period over which the services are performed.
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:
Plant and machinery over 3 years
Financial assets
Basic financial assets, including trade and other receivables and cash or bank balances, excluding any financing transactions, are initially recognised at transaction price and are subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Financial liabilities
Basic financial liabilities, including trade and other payables, excluding any financing transactions, are initially recognised at transaction price and are subsequently measured at amortised cost determined using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
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 material 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.
Operating Profit
2023 2022
£ £
This is stated after charging:
Depreciation of owned fixed assets 12,978 9,702
2 Employees
2023 2022
Average number of employees during the period (including the directors)
Number Number
Average number of persons employed by the company 1 1
3 Taxation
2023 2022
£ £
Analysis of charge in period
Current tax:
Temporary Corporation tax - 63,068
UK Temporary Corporation tax - 63,068
4 Tangible fixed assets
Plant and machinery etc Plant and machinery etc
£ £
Cost or valuation
At 1 January 2023 34,020
Additions 12,177
At 31 December 2023 46,197
Depreciation
At 1 January 2023 17,108
Charge for the year 12,978
At 31 December 2023 30,086
Carrying amount
At 31 December 2023 16,111
At 31 December 2022 16,912
5 Debtors 2023 2022
£ £
Trade debtors 239,943 199,728
Other debtors 4,389 -
Prepayments and accrued income - 2,801
244,332 202,529
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 3,239 1,724
Corporation tax - 63,068
Other taxes and social security costs 4,611 14,991
Other creditors 80,902 61,954
Accruals and deferred income 165,294 157,355
254,046 299,092
7 Share capital Nominal 2023 2022
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £0.01 each 100 1 1
1 1
8 Profit and loss account 2023 2022
£ £
At 1 January 288,713 66,603
Loss for the financial year (158,483) (180,477)
Dividends (41,000) (41,000)
At 31 December 89,230 (154,874)
9 Controlling party
The director controls the company by virtue of his majority share of the voting rights.
10 Presentation currency
The financial statements are presented in Sterling.
11 Legal form of entity and country of incorporation
Global Growth Business Ltd is a private company limited by shares and incorporated in England. The address of the company's principal place of business and registered office is:
1 Mentmore Terrace, The Fisheries, Office 111, London, United Kingdom. E8 3PN
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