Grow The People Ltd FILLETED ACCOUNTS COVER
|
|
|||||||||
Company No. 07520141
|
|||||||||
|
|||||||||
|
|||||||||
Grow The People Ltd BALANCE SHEET REGISTRAR
|
at
|
|
|||||||||
Company No.
|
|
Notes
|
2019
|
2018
|
||||||
£
|
£
|
|||||||||
Fixed assets
|
||||||||||
Tangible assets
|
2
|
|
|
|||||||
|
|
|||||||||
Current assets
|
||||||||||
Debtors
|
3
|
|
|
|||||||
Cash at bank and in hand
|
|
|
||||||||
|
|
|||||||||
Creditors: Amount falling due within one year
|
4
|
(
|
(
|
|||||||
Net current liabilities
|
(
|
(
|
||||||||
Total assets less current liabilities
|
|
|
||||||||
Net assets
|
|
|
||||||||
Capital and reserves
|
||||||||||
Called up share capital
|
|
|
||||||||
Profit and loss account
|
5
|
|
|
|||||||
Total equity
|
|
|
||||||||
|
||||||||||
|
||||||||||
|
||||||||||
|
||||||||||
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
|
||||||||||
Approved by the board on 16 October 2019
|
||||||||||
And signed on its behalf by:
|
||||||||||
S. Arrowsmith
|
||||||||||
Director
|
||||||||||
Grow The People Ltd NOTES TO THE ACCOUNTS REGISTRAR
|
for the year ended 31 May 2019
|
||||||||||||||
1
|
Accounting policies
|
|||||||||||||
Basis of preparation
|
||||||||||||||
|
||||||||||||||
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the accounting policies set out below.
|
||||||||||||||
|
||||||||||||||
Turnover
|
||||||||||||||
Revenue from the sale of goods is recognised when all the following conditions are satisfied: • the Company has transferred to the buyer the significant risks and rewards of ownership of the goods; • 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 economic benefits associated with the transaction will flow to the Company; and • the costs incurred or to be incurred in respect of the transaction can be measured reliably. Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed. |
||||||||||||||
Tangible fixed assets and depreciation
|
||||||||||||||
At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. |
||||||||||||||
|
||||||||||||||
Furniture, fittings and equipment
|
|
|||||||||||||
Music Equipment are on a 25% reducing balance and are part of Furniture, fittings and equipment.
|
||||||||||||||
Taxation
|
||||||||||||||
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. |
||||||||||||||
Current tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current tax is also recognised in other comprehensive income or directly in equity respectively.
|
||||||||||||||
Trade and other debtors
|
||||||||||||||
|
||||||||||||||
Trade and other creditors
|
||||||||||||||
|
||||||||||||||
2
|
Tangible fixed assets
|
|||||||||||||
Fixtures, fittings and equipment
|
Total
|
|||||||||||||
£
|
£
|
|||||||||||||
Cost or revaluation
|
||||||||||||||
At 1 June 2018
|
|
|
||||||||||||
Additions
|
|
|
||||||||||||
At 31 May 2019
|
|
|
||||||||||||
Depreciation
|
||||||||||||||
At 1 June 2018
|
|
|
||||||||||||
Charge for the year
|
|
|
||||||||||||
At 31 May 2019
|
|
|
||||||||||||
Net book values
|
||||||||||||||
At 31 May 2019
|
|
|
||||||||||||
At 31 May 2018
|
|
|
||||||||||||
3
|
Debtors
|
|||||||||||||
2019
|
2018
|
|||||||||||||
£
|
£
|
|||||||||||||
Trade debtors
|
|
|
||||||||||||
Loans to directors
|
|
|
||||||||||||
Prepayments and accrued income
|
|
|
||||||||||||
|
|
|||||||||||||
4
|
Creditors:
|
|||||||||||||
amounts falling due within one year
|
||||||||||||||
2019
|
2018
|
|||||||||||||
£
|
£
|
|||||||||||||
Bank loans and overdrafts
|
|
|
||||||||||||
Other loans
|
|
|
||||||||||||
Trade creditors
|
|
(
|
||||||||||||
Corporation tax
|
|
|
||||||||||||
Other taxes and social security
|
|
|
||||||||||||
Accruals and deferred income
|
|
|
||||||||||||
|
|
|||||||||||||
5
|
Reserves
|
|||||||||||||
|
||||||||||||||
6
|
Dividends
|
|||||||||||||
2019
|
2018
|
|||||||||||||
£
|
£
|
|||||||||||||
Dividends for the period:
|
||||||||||||||
Dividends paid in the period
|
-
|
-
|
||||||||||||
Dividends accrued at the period end
|
34,000
|
42,000
|
||||||||||||
|
|
|||||||||||||
Dividends by type:
|
||||||||||||||
Equity dividends
|
|
|
||||||||||||
34,000
|
42,000
|
|||||||||||||
7
|
Additional information
|
|||||||||||||
|
||||||||||||||
Its registered number is:
|
||||||||||||||
|
||||||||||||||
|
||||||||||||||
|
||||||||||||||
|
||||||||||||||
|
||||||||||||||