Registered number
05326872
Finance 4 Growth Limited
Report and Accounts
31 July 2024
Accountancy 4 Wealth Limited
Accountants and Business Advisors
33 Wolverhampton Road
Cannock
Staffordshire
WS11 1AP
Finance 4 Growth Limited
Registered number: 05326872
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Current assets
Debtors 3 998 998
Cash at bank and in hand 2,773 3,300
3,771 4,298
Creditors: amounts falling due within one year 4 (1,000) (1,395)
Net current assets 2,771 2,903
Net assets 2,771 2,903
Capital and reserves
Called up share capital 100 100
Profit and loss account 2,671 2,803
Shareholders' funds 2,771 2,903
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
I Beech
Director
Approved by the board on 22 April 2025
Finance 4 Growth Limited
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
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 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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Debtors 2024 2023
£ £
Other debtors 998 998
4 Creditors: amounts falling due within one year 2024 2023
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 1,000 1,000
Other creditors - 395
1,000 1,395
5 Related party transactions
During the financial year the company traded on commercial terms with Tax Efficient Numerate Solutions Limited and Inventive Business Solutions Limited, in which Mr I Beech is a director.
6 Controlling party
The company is under the control of Cannock Ticketing Limited, a company incorporated in the UK under the control of Ian Beech and family.
7 Contingent liabilities
The Company is currently subject of a tax enquiry by HMRC who have indicated their view that the provision of a jointly purchased life bond to be used by the directors as a hedge against their own investments was subject to PAYE and NI in the sum of £159,000 rather than be taxable as a benefit in kind as declared, following written agreement from specialist advisors and HMRC at the time. Having initially been granted a postponement from payment until resolution, HMRC later issued a notice for advance payment of the disputed tax, which the Company is unable to pay due to insufficient funds.

In 2017 the directors were granted an option by the Company to take an interest bearing loan from the company. Although this was never taken HMRC are attempting to charge PAYE and NI for the sum of £68,000 on the transaction which never took place.

The company has utilised most of its remaining resources on this matter and the directors are personally funding these appeal processes. Due to reduced trade were the company to lose either appeal or reach a point when the directors can no longer support the company to finance the defence then they would be forced to put the company into liquidation.
Finance 4 Growth Limited 05326872 false 2023-08-01 2024-07-31 2024-07-31 VT Final Accounts July 2024 I Beech No description of principal activity 05326872 2022-08-01 2023-07-31 05326872 core:WithinOneYear 2023-07-31 05326872 core:ShareCapital 2023-07-31 05326872 core:RetainedEarningsAccumulatedLosses 2023-07-31 05326872 2023-08-01 2024-07-31 05326872 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 05326872 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 05326872 bus:Director40 2023-08-01 2024-07-31 05326872 bus:FRS102 2023-08-01 2024-07-31 05326872 bus:FilletedAccounts 2023-08-01 2024-07-31 05326872 2024-07-31 05326872 core:WithinOneYear 2024-07-31 05326872 core:ShareCapital 2024-07-31 05326872 core:RetainedEarningsAccumulatedLosses 2024-07-31 05326872 2023-07-31 iso4217:GBP xbrli:pure