Registered number
03824303
Accountancy 4 Growth Limited
Report and Accounts
30 July 2024
Accountancy 4 Wealth Limited
Accountants and Business Advisors
33 Wolverhampton Road
Cannock
Staffordshire
WS11 1AP
Accountancy 4 Growth Limited
Registered number: 03824303
Balance Sheet
as at 30 July 2024
Notes 2024 2023
£ £
Current assets
Debtors 3 6,263 6,741
Cash at bank and in hand 19,969 19,862
26,232 26,603
Net current assets 26,232 26,603
Net assets 26,232 26,603
Capital and reserves
Called up share capital 1,300 1,300
Profit and loss account 24,932 25,303
Shareholders' funds 26,232 26,603
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 7 May 2025
Accountancy 4 Growth Limited
Notes to the Accounts
for the year ended 30 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 6,263 6,741
4 Related party transactions
There are no related party transactions.
5 Controlling party
The company is controlled by its directors who are the shareholders.
6 Contingent Liability
Since the company ceased trading, in October 2014, it has received further tax assessments and notices, under subsequent new tax legislation, to make accelerated payments of disputed PAYE and NI of £165,657, £433,466, £206,133 and £248,641 for 2007, 2008, 2014 and 2015 tax years.
The assessments are all under appeal and the company has joined various group judicial review actions to challenge the legitimacy of these notices under legislation not existing at the time that it ceased trading. Additionally HMRC have raised further assessments against the company seeking to tax the disputed transactions in alternative ways and in later years
Should any of these appeals or applications be unsuccessful , the company would be required to make these payments, despite the fact that all specialist comtemporaneous tax advice received by the directors advised that the original transactions were not taxable under legislation and case law at the time, supported in certain cases by HMRCs own correspondence, and that any advance payments made would ultimately be refundable.
Having ceased trading many years ago the company would be unable to make any payments without external funding and would as a result most likely be forced into liquidation.
Accountancy 4 Growth Limited 03824303 false 2023-07-31 2024-07-30 2024-07-30 VT Final Accounts July 2024 I Beech No description of principal activity 03824303 2022-07-31 2023-07-30 03824303 core:ShareCapital 2023-07-30 03824303 core:RetainedEarningsAccumulatedLosses 2023-07-30 03824303 2023-07-31 2024-07-30 03824303 bus:PrivateLimitedCompanyLtd 2023-07-31 2024-07-30 03824303 bus:AuditExemptWithAccountantsReport 2023-07-31 2024-07-30 03824303 bus:Director40 2023-07-31 2024-07-30 03824303 bus:FRS102 2023-07-31 2024-07-30 03824303 bus:FilletedAccounts 2023-07-31 2024-07-30 03824303 2024-07-30 03824303 core:ShareCapital 2024-07-30 03824303 core:RetainedEarningsAccumulatedLosses 2024-07-30 03824303 2023-07-30 iso4217:GBP xbrli:pure