Growth Alliance Limited 09060821 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is that of management consultancy services Digita Accounts Production Advanced 6.30.9574.0 true 09060821 2023-06-01 2024-05-31 09060821 2024-05-31 09060821 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2024-05-31 09060821 2 2024-05-31 09060821 core:CurrentFinancialInstruments 2024-05-31 09060821 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 09060821 core:Non-currentFinancialInstruments 2024-05-31 09060821 core:Non-currentFinancialInstruments core:AfterOneYear 2024-05-31 09060821 core:OfficeEquipment 2024-05-31 09060821 bus:SmallEntities 2023-06-01 2024-05-31 09060821 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 09060821 bus:FullAccounts 2023-06-01 2024-05-31 09060821 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 09060821 bus:RegisteredOffice 2023-06-01 2024-05-31 09060821 bus:Director1 2023-06-01 2024-05-31 09060821 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-06-01 2024-05-31 09060821 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 09060821 core:OfficeEquipment 2023-06-01 2024-05-31 09060821 countries:England 2023-06-01 2024-05-31 09060821 2023-05-31 09060821 core:OfficeEquipment 2023-05-31 09060821 2022-06-01 2023-05-31 09060821 2023-05-31 09060821 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-05-31 09060821 2 2023-05-31 09060821 core:CurrentFinancialInstruments 2023-05-31 09060821 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 09060821 core:Non-currentFinancialInstruments 2023-05-31 09060821 core:Non-currentFinancialInstruments core:AfterOneYear 2023-05-31 09060821 core:OfficeEquipment 2023-05-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 09060821

Growth Alliance Limited

trading as Growth Alliance Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2024

 

Growth Alliance Limited

trading as Growth Alliance Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Growth Alliance Limited

trading as Growth Alliance Limited

(Registration number: 09060821)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

825

937

Current assets

 

Debtors

6

12,800

12,333

Cash at bank and in hand

 

1,707

4,630

 

14,507

16,963

Creditors: Amounts falling due within one year

7

(21,500)

(21,500)

Net current liabilities

 

(6,993)

(4,537)

Total assets less current liabilities

 

(6,168)

(3,600)

Creditors: Amounts falling due after more than one year

7

(2,508)

(4,708)

Provisions for liabilities

(64)

(85)

Net liabilities

 

(8,740)

(8,393)

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

(8,840)

(8,493)

Shareholders' deficit

 

(8,740)

(8,393)

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the director on 10 June 2025
 

.........................................
Mr M P Corrigan
Director

 

Growth Alliance Limited

trading as Growth Alliance Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
5 Cherry Tree Road
Whalley
Lancs
BB7 9YH

These financial statements were authorised for issue by the director on 10 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Growth Alliance Limited

trading as Growth Alliance Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

112

149

 

Growth Alliance Limited

trading as Growth Alliance Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

5

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 June 2023

2,864

2,864

At 31 May 2024

2,864

2,864

Depreciation

At 1 June 2023

1,927

1,927

Charge for the year

112

112

At 31 May 2024

2,039

2,039

Carrying amount

At 31 May 2024

825

825

At 31 May 2023

937

937

 

Growth Alliance Limited

trading as Growth Alliance Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

6

Debtors

Note

2024
£

2023
£

Other debtors

 

12,612

12,145

Income tax asset

188

188

 

12,800

12,333

7

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

2,200

2,200

Accruals and deferred income

 

19,300

19,300

 

21,500

21,500

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

2,508

4,708

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       
 

Growth Alliance Limited

trading as Growth Alliance Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

2,508

4,708

Current loans and borrowings

2024
£

2023
£

Bank borrowings

2,200

2,200