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Registered number: 08959035
Growing Together Exponentially Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Annette Ferguson Scotland Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 08959035
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,182 1,577
Investments 5 13,762 13,762
14,944 15,339
CURRENT ASSETS
Debtors 6 99,899 143,292
Cash at bank and in hand - 987
99,899 144,279
Creditors: Amounts Falling Due Within One Year 7 (98,013 ) (120,380 )
NET CURRENT ASSETS (LIABILITIES) 1,886 23,899
TOTAL ASSETS LESS CURRENT LIABILITIES 16,830 39,238
Creditors: Amounts Falling Due After More Than One Year 8 (22,417 ) (32,369 )
NET (LIABILITIES)/ASSETS (5,587 ) 6,869
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (5,687 ) 6,769
SHAREHOLDERS' FUNDS (5,587) 6,869
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Benjamin Shorter
Director
20/08/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Growing Together Exponentially Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08959035 . The registered office is 776-778 Barking Road, International House, London, England, E13 9PJ.
Presentation currency
The accounts are presented in £ sterling.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 25% RB
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 April 2023 2,771
As at 31 March 2024 2,771
Depreciation
As at 1 April 2023 1,194
Provided during the period 395
As at 31 March 2024 1,589
Net Book Value
As at 31 March 2024 1,182
As at 1 April 2023 1,577
Page 3
Page 4
5. Investments
Unlisted
£
Cost
As at 1 April 2023 13,762
As at 31 March 2024 13,762
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 13,762
As at 1 April 2023 13,762
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 36,823 69,802
Other debtors 1,784 1,612
Other taxes and social security 22,354 22,688
Directors' loan accounts 44,719 50,155
Amounts owed by group undertakings (5,781 ) (965 )
99,899 143,292
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 372 4,795
Bank loans and overdrafts 41,129 18,800
Other loans 13,278 12,283
Corporation tax 8,726 11,144
VAT 15,015 20,593
Net wages 1,312 160
Accruals and deferred income 18,181 52,605
98,013 120,380
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 22,417 32,369
9. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.00 each 100 100
Page 4