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REGISTERED NUMBER: 13167893 (England and Wales)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

GROWFLEX PEOPLE SOLUTIONS LTD

GROWFLEX PEOPLE SOLUTIONS LTD (REGISTERED NUMBER: 13167893)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GROWFLEX PEOPLE SOLUTIONS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTOR: R Porter





REGISTERED OFFICE: 73 Marley Fields
Wheatley Hill
Durham
DH6 3AX





REGISTERED NUMBER: 13167893 (England and Wales)





ACCOUNTANTS: RMT Ribchesters
Accountants and Business Advisors
Finchale House
Belmont Business Park
Durham
DH1 1TW

GROWFLEX PEOPLE SOLUTIONS LTD (REGISTERED NUMBER: 13167893)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 259 543
Tangible assets 5 - 400
259 943

CURRENT ASSETS
Debtors 6 - 1,676
Cash at bank 14,340 9,263
14,340 10,939
CREDITORS
Amounts falling due within one year 7 5,487 18,838
NET CURRENT ASSETS/(LIABILITIES) 8,853 (7,899 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,112

(6,956

)

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 9,111 (6,957 )
SHAREHOLDERS' FUNDS 9,112 (6,956 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 October 2024 and were signed by:




R Porter - Director


GROWFLEX PEOPLE SOLUTIONS LTD (REGISTERED NUMBER: 13167893)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Growflex People Solutions Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Income represents sales of services attributable to the company's principal activity, which is that of HR provision. Income is recognised when the company becomes entitled to it.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Computer equipment - straight line over 3 years

Financial instruments
The company has elected to apply the provisions of section 11 'Basic Financial Instruments' and Section 12
'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

GROWFLEX PEOPLE SOLUTIONS LTD (REGISTERED NUMBER: 13167893)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

2. ACCOUNTING POLICIES - continued

Going concern
The director has considered current and future cash flow requirements and has determined that the company has sufficient funding to meet its ongoing commitments for a period of 12 months from the date of this report. For this reason they have adopted the going concern basis of accounts.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 February 2023
and 31 January 2024 850
AMORTISATION
At 1 February 2023 307
Charge for year 284
At 31 January 2024 591
NET BOOK VALUE
At 31 January 2024 259
At 31 January 2023 543

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023
and 31 January 2024 952
DEPRECIATION
At 1 February 2023 552
Charge for year 400
At 31 January 2024 952
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 400

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors - 1,676

GROWFLEX PEOPLE SOLUTIONS LTD (REGISTERED NUMBER: 13167893)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 4,094 -
Other creditors 1,393 18,838
5,487 18,838

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1.00 1 1

9. RELATED PARTY DISCLOSURES

During the year the director maintained an interest free loan to the company. At 31 January 2024 the balance on the loan was £314 (2023: £17,758).