Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-3156101 - Licensed restaurants12023-04-01false1falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 03835448 2023-04-01 2024-03-31 03835448 2022-04-01 2023-03-31 03835448 2024-03-31 03835448 2023-03-31 03835448 c:Director1 2023-04-01 2024-03-31 03835448 d:Buildings d:LongLeaseholdAssets 2023-04-01 2024-03-31 03835448 d:Buildings d:LongLeaseholdAssets 2024-03-31 03835448 d:Buildings d:LongLeaseholdAssets 2023-03-31 03835448 d:FreeholdInvestmentProperty 2024-03-31 03835448 d:FreeholdInvestmentProperty 2023-03-31 03835448 d:CurrentFinancialInstruments 2024-03-31 03835448 d:CurrentFinancialInstruments 2023-03-31 03835448 d:Non-currentFinancialInstruments 2024-03-31 03835448 d:Non-currentFinancialInstruments 2023-03-31 03835448 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 03835448 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 03835448 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 03835448 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 03835448 d:ShareCapital 2024-03-31 03835448 d:ShareCapital 2023-03-31 03835448 d:RetainedEarningsAccumulatedLosses 2024-03-31 03835448 d:RetainedEarningsAccumulatedLosses 2023-03-31 03835448 c:FRS102 2023-04-01 2024-03-31 03835448 c:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 03835448 c:FullAccounts 2023-04-01 2024-03-31 03835448 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 03835448 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 03835448









GROWTIME (2000) LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
GROWTIME (2000) LTD
 
 
  
REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF GROWTIME (2000) LTD
FOR THE YEAR ENDED 31ST MARCH 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Growtime (2000) Ltd for the year ended 31st 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 Association of Chartered Certified Accountantswe are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal .com/uk/en/about-us /regulation/ethics /acca-rulebook.html.

This report is made solely to the director of Growtime (2000) Ltd in accordance with the terms of our engagement letter dated 12 February  2025Our work has been undertaken solely to prepare for your approval the financial statements of Growtime (2000) Ltd and state those matters that we have agreed to state to the director of Growtime (2000) Ltd in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal .com/content/dam/ACCA_Global /Technical /fact/technical-factsheet -163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Growtime (2000) Ltd and its director for our work or for this report. 

It is your duty to ensure that Growtime (2000) Ltd 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 Growtime (2000) Ltd. You consider that Growtime (2000) Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Growtime (2000) 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 financial statements.

  



Fraser Russell Limited
 
77 Francis Road
Edgbaston
Birmingham
West Midlands
B16 8SP
7 March 2025

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
49,569
49,569

Investment property
 5 
445,612
445,612

  
495,181
495,181
Page 1

 
GROWTIME (2000) LTD
 
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024


Current assets
  

Debtors: amounts falling due within one year
 6 
66,082
66,082

Cash at bank and in hand
 7 
17,619
12,931

  
83,701
79,013

Creditors: amounts falling due within one year
 8 
(377,543)
(366,905)

Net current liabilities
  
 
 
(293,842)
 
 
(287,892)

Total assets less current liabilities
  
201,339
207,289

Creditors: amounts falling due after more than one year
 9 
(307,026)
(317,077)

  

Net liabilities
  
(105,687)
(109,788)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(105,787)
(109,888)

  
(105,687)
(109,788)


Page 2

 
GROWTIME (2000) LTD
REGISTERED NUMBER: 03835448
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 7 March 2025.


Shaban Suleman
Director

The notes on pages 5 to 12 form part of these financial statements.

Page 3

 
GROWTIME (2000) LTD
REGISTERED NUMBER: 03835448
Page 4

 
GROWTIME (2000) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024

1.


General information

Growtime (2000) Limited is a company limited by shares incorporated in England within the United Kingdom, having a registration of 03835448. The address of the registered office is 77 Francis Road, Edgbaston Birmingham B16 8SP. The principal activity of the company in the year under review was that of licensed restaurants.
The financial statements are presented in sterling which is functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below.  These policies have been consistently applied to all years presented unless otherwise stated.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements has been prepared on a going concern basis which assumes that the company will continue to receive support from creditors and the director as and when required.

Page 5

 
GROWTIME (2000) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 6

 
GROWTIME (2000) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property
-
Not depreciated

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 7

 
GROWTIME (2000) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024

4.


Tangible fixed assets





Long-term leasehold property

£



Cost or valuation


At 1 April 2023
49,569



At 31st March 2024

49,569






Net book value



At 31st March 2024
49,569



At 31st March 2023
49,569


5.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
445,612



At 31st March 2024
445,612

The 2024 valuations were made by the director with no significant changes noted, on an open market value for existing use basis.



At 31st March 2024





6.


Debtors

2024
2023
£
£


Other debtors
66,082
66,082

66,082
66,082

Page 8

 
GROWTIME (2000) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024

6.Debtors (continued)



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
17,619
12,931

17,619
12,931



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
28,069
26,239

Corporation tax
-
9,012

Other creditors
344,674
328,054

Accruals and deferred income
4,800
3,600

377,543
366,905



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
307,026
317,077

307,026
317,077


Page 9

 
GROWTIME (2000) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024

10.


Related party transactions

Page 10

 
GROWTIME (2000) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024

10.Related party transactions (continued)

Shaban Suleman is the sole director and shareholder of Growtime (2000) Limited. 
During the period, the director provided loans of £3,693 to the company.  As at the balance sheet date, the company owed the director £164,593 (2023: £160,954), which is shown in Other creditors due within one year. 
The above balances are payable on demand and therefore there are no significant differences between the value of the original loan amount and the initial carrying value of the loan as shown in the balance sheet.

Shaban Suleman also trades as Shaban Properties. 
During the period, the company transacted with Shaban Properties for a net amount of £nil. At the balance sheet date, the company owed £4,110 (2023: £4,110) to Shaban Properties which is shown in Other creditors due within one year. 
The above balances are payable on demand and therefore there are no significant differences between the value of the original loan amount and the initial carrying value of the loan as shown in the balance sheet.

Shaban Suleman is also the shareholder and director of Peckvale Limited. 
During the period,  the company transacted with Peckvale Ltd for a net amount of £nil. At the balance sheet date, the company owed £855 (2023: £855) to Peckvale Limited which is shown in Other creditors due within one year.
The above balance is payable on demand and therefore there are no significant differences between the value of the original loan amount and the initial carrying value of the loan as shown in the balance sheet. 

Shaban Suleman is also the shareholder and director of Ballentine Properties Limited. 
During the period, the company transacted with Ballentine Properties Limited for goods and services of a net amount of £12,980. At the balance sheet date, the company owed £157,863 (2023: £144,882) to Ballentine Properties Limited which is shown in Other creditors due within one year.
The above balance is payable on demand and therefore there are no significant differences between the value of the original loan amount and the initial carrying value of the loan as shown in the balance sheet. 

Shaban Suleman is also the shareholder and director of Pecks House Development Limited. 
During the period, the company transacted with Pecks House Development Limited for a net amount of £nil. At the balance sheet date, the company owed £3,025 (2023: £3,025) to Pecks House Development Limited which is shown in Other creditors due within one year.
The above balance is payable on demand and therefore there are no significant differences between the value of the original loan amount and the initial carrying value of the loan as shown in the balance sheet.

Shaban Suleman is also the shareholder and director of The Barns (N.E.) Limited. 
 
Page 11

 
GROWTIME (2000) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024

10.Related party transactions (continued)



11.


Controlling party

The ultimate controlling party during the period was the director and shareholder Shaban Suleman.

 
Page 12