REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 July 2021 |
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for |
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HIGH GROWTH KNOWLEDGE COMPANY LIMITED |
REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 July 2021 |
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for |
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HIGH GROWTH KNOWLEDGE COMPANY LIMITED |
HIGH GROWTH KNOWLEDGE COMPANY LIMITED (REGISTERED NUMBER: 08384358) |
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Contents of the Financial Statements |
FOR THE YEAR ENDED 31 JULY 2021 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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HIGH GROWTH KNOWLEDGE COMPANY LIMITED |
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Company Information |
FOR THE YEAR ENDED 31 JULY 2021 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
6-8 Bath Street |
Bristol |
BS1 6HL |
HIGH GROWTH KNOWLEDGE COMPANY LIMITED (REGISTERED NUMBER: 08384358) |
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Balance Sheet |
31 JULY 2021 |
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2021 | 2020 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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Investments | 6 |
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CURRENT ASSETS |
Debtors | 7 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 8 | ( |
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NET CURRENT (LIABILITIES)/ASSETS | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
9 |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital | 10 |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
HIGH GROWTH KNOWLEDGE COMPANY LIMITED (REGISTERED NUMBER: 08384358) |
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Balance Sheet - continued |
31 JULY 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered. |
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The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on
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HIGH GROWTH KNOWLEDGE COMPANY LIMITED (REGISTERED NUMBER: 08384358) |
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Notes to the Financial Statements |
FOR THE YEAR ENDED 31 JULY 2021 |
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1. | COMPANY INFORMATION |
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High Growth Knowledge Company Limited is a
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The company's principal activities and nature of its operations are those of management consultancy activities. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006. |
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The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. |
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The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below. |
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Going concern |
The financial statements have been prepared on a going concern basis. The directors have a reasonable expectation that despite the adverse effects COVID-19 is having on both the company and the economy as a whole the company has adequate resources to continue in operational existence for the foreseeable future. On this basis, the directors have concluded that they can continue to adopt the going concern basis in preparing the financial statements. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services provided in the normal course of business, net of discounts, VAT and other sales related taxes. |
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Goodwill |
Goodwill is the difference between amounts paid on the acquisition of a business amd the fair value of the identifiable assets and liabilities. It is amortised to the Profit and Loss account over its estimated economic life of 3 years. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Computer equipment | - |
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HIGH GROWTH KNOWLEDGE COMPANY LIMITED (REGISTERED NUMBER: 08384358) |
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Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 JULY 2021 |
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2. | ACCOUNTING POLICIES - continued |
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Cash and cash equivalents |
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. |
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Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
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Basic financial assets, which include trade and other debtors, amounts due from group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. |
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Basic financial liabilities, including trade and other creditors and amounts due to group undertakings are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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HIGH GROWTH KNOWLEDGE COMPANY LIMITED (REGISTERED NUMBER: 08384358) |
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Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 JULY 2021 |
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
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COST |
At 1 August 2020 |
and 31 July 2021 |
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AMORTISATION |
At 1 August 2020 |
and 31 July 2021 |
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NET BOOK VALUE |
At 31 July 2021 |
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At 31 July 2020 |
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5. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
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COST |
At 1 August 2020 |
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Additions |
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At 31 July 2021 |
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DEPRECIATION |
At 1 August 2020 |
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Charge for year |
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At 31 July 2021 |
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NET BOOK VALUE |
At 31 July 2021 |
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At 31 July 2020 |
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6. | FIXED ASSET INVESTMENTS |
Other |
investments |
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COST |
At 1 August 2020 |
and 31 July 2021 |
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NET BOOK VALUE |
At 31 July 2021 |
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At 31 July 2020 |
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HIGH GROWTH KNOWLEDGE COMPANY LIMITED (REGISTERED NUMBER: 08384358) |
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Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 JULY 2021 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
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Other debtors |
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Tax |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Tax |
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Social security and other taxes |
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VAT | 2,859 | 1,732 |
Directors' current accounts | 8,800 | 13,240 |
Accruals and deferred income |
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9. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2021 | 2020 |
£ | £ |
Bank loans - 2-5 years |
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10. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2020 |
value: | £ | £ |
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Ordinary | £1 | 4 | 4 |