Company registration number 05458582 (England and Wales)
GROWING UP GREEN LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
GROWING UP GREEN LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
GROWING UP GREEN LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF GROWING UP GREEN LIMITED FOR THE YEAR ENDED 31 MARCH 2024
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Growing Up Green Limited for the year ended 31 March 2024 which comprise, the balance sheet 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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of Growing Up Green Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Growing Up Green Limited and state those matters that we have agreed to state to the board of directors of Growing Up Green Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Growing Up Green Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Growing Up Green Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Growing Up Green Limited. You consider that Growing Up Green Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Growing Up Green Limited. 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 financial statements.
Ormerod Rutter Limited
10 September 2024
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
GROWING UP GREEN LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
59,646
224,977
Current assets
Debtors
4
3,574
439,537
Cash at bank and in hand
819,869
26,207
823,443
465,744
Creditors: amounts falling due within one year
5
(422,319)
(296,432)
Net current assets
401,124
169,312
Total assets less current liabilities
460,770
394,289
Provisions for liabilities
6
(14,793)
(11,902)
Net assets
445,977
382,387
Capital and reserves
Called up share capital
7
100
100
Other non distributable reserve
8
64,143
Capital redemption reserve
2
2
Profit and loss reserves
445,875
318,142
Total equity
445,977
382,387
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
GROWING UP GREEN LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 10 September 2024 and are signed on its behalf by:
Mrs C L Crosby-Adams
Director
Company Registration No. 05458582
GROWING UP GREEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
1
Accounting policies
Company information
Growing Up Green Limited is a private company limited by shares incorporated in England and Wales. The registered office is 138 Beaconsfield Villas, Brighton, East Sussex, England, BN1 6HE.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business.
Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and property
2% on cost
Improvements to property
2% on cost
Nursery equipment
33% on reducing balance
Fixtures and fittings
20% on reducing balance
Computer equipment
33% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
GROWING UP GREEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.5
Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.6
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.7
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
36
31
GROWING UP GREEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
3
Tangible fixed assets
Freehold land and property
Improvements to property
Nursery equipment
Fixtures and fittings
Computer equipment
Total
£
£
£
£
£
£
Cost
At 1 April 2023
190,650
83,349
16,286
11,658
14,747
316,690
Additions
364
304
668
Disposals
(190,650)
(190,650)
At 31 March 2024
83,349
16,650
11,962
14,747
126,708
Depreciation and impairment
At 1 April 2023
28,694
25,905
15,977
9,738
11,399
91,713
Depreciation charged in the year
1,666
176
446
1,755
4,043
Eliminated in respect of disposals
(28,694)
(28,694)
At 31 March 2024
27,571
16,153
10,184
13,154
67,062
Carrying amount
At 31 March 2024
55,778
497
1,778
1,593
59,646
At 31 March 2023
161,956
57,444
309
1,920
3,348
224,977
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
259
439,537
Other debtors
3,315
3,574
439,537
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
144
112
Amounts owed to group undertakings
355,562
123,282
Taxation and social security
35,743
42,343
Other creditors
30,870
130,695
422,319
296,432
GROWING UP GREEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
6
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
14,793
11,902
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
40
40
40
40
Ordinary of £1 each
40
40
40
40
Ordinary Preferred of £1 each
10
10
10
10
Ordinary Deferred of £1 each
10
10
10
10
100
100
100
100
8
Other non distributable reserve
2024
2023
£
£
At the beginning of the year
64,143
64,143
Other movements
(64,143)
-
At the end of the year
64,143
9
Related party transactions
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
10
Control
Ultimate parent company
The ultimate parent company is GUG Group Limited, a company registered in England and Wales.
Ultimate controlling party
There is no ultimate controlling party by virtue of there being no controlling interest in the ultimate parent company.