2023-05-012024-04-302024-04-30false10723919Growth Shop 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Growth Shop Ltd

Registered Number
10723919
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

Growth Shop Ltd
Company Information
for the year from 1 May 2023 to 30 April 2024

Director

Mark Patchett

Registered Address

49 Greek Street
London
W1D 4EG

Registered Number

10723919 (England and Wales)
Growth Shop Ltd
Balance Sheet as at
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets43,4545,564
3,4545,564
Current assets
Debtors538,483102,535
Cash at bank and on hand509,19955,474
547,682158,009
Creditors amounts falling due within one year6(87,117)(96,815)
Net current assets (liabilities)460,56561,194
Total assets less current liabilities464,01966,758
Creditors amounts falling due after one year7(659,513)(689,442)
Net assets(195,494)(622,684)
Capital and reserves
Called up share capital100100
Profit and loss account(195,594)(622,784)
Shareholders' funds(195,494)(622,684)
The financial statements were approved and authorised for issue by the Director on 23 January 2025, and are signed on its behalf by:
Mark Patchett
Director
Registered Company No. 10723919
Growth Shop Ltd
Notes to the Financial Statements
for the year ended 30 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Fixtures and fittings5
Office Equipment3
2.Average number of employees

20242023
Average number of employees during the year29
3.Further information regarding the company's income
During the year, the company sold shares acquired in 2020 and 2021 from Resident Home, Inc., a Delaware-registered company in the United States. The sale resulted in a gain of £491,641.80.
4.Tangible fixed assets

Fixtures & fittings

Office Equipment

Total

£££
Cost or valuation
At 01 May 232,79416,99219,786
Additions-1,7561,756
At 30 April 242,79418,74821,542
Depreciation and impairment
At 01 May 232,26211,96014,222
Charge for year2123,6543,866
At 30 April 242,47415,61418,088
Net book value
At 30 April 243203,1343,454
At 30 April 235325,0325,564
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables-6,524
Amounts owed by associates and joint ventures / participating interests37,12655,443
Other debtors60935,467
Prepayments and accrued income7485,101
Total38,483102,535
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables27,79026,444
Bank borrowings and overdrafts20-
Amounts owed to related parties56,94155,293
Taxation and social security3187,296
Other creditors1,048514
Accrued liabilities and deferred income1,0007,268
Total87,11796,815
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts27,50037,500
Convertible loans632,013632,013
Other creditors-19,929
Total659,513689,442
8.Related party transactions
As of 30 April 2024, the company owes the director, Mark Patchett, £19,815.04 (2023: the director owed the company £149.97). Interest is accruing on this loan, and it is repayable on demand.