The Growth Engine Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09181157 (England and Wales)

The Growth Engine Limited

Financial Statements

for the Year Ended 31 March 2020

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr I A Stewart

Mrs G M Stewart

REGISTERED OFFICE:

33 George Street

Wakefield

West Yorkshire

WF1 1LX

REGISTERED NUMBER:

09181157 (England and Wales)

ACCOUNTANTS:

Jolliffe Cork LLP

Chartered Accountants

33 George Street

Wakefield

West Yorkshire

WF1 1LX

FIXED ASSETS

Tangible assets

4

450

522

CURRENT ASSETS

Debtors

5

77

-

Cash at bank

2,377

2,337

2,454

2,337

CREDITORS

Amounts falling due within one year

6

3,857

3,411

NET CURRENT LIABILITIES

(1,403

)

(1,074

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(953

)

(552

)

PROVISIONS FOR LIABILITIES

86

99

NET LIABILITIES

(1,039

)

(651

)

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

(1,139

)

(751

)

SHAREHOLDERS' FUNDS

(1,039

)

(651

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 December 2020 and were signed on its behalf by:

Mr I A Stewart - Director

Mrs G M Stewart - Director

1.	STATUTORY INFORMATION

The Growth Engine Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The functional and presentational currency for the company is the pound sterling (£). All financial information presented has been rounded to the nearest (£), unless otherwise stated.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going Concern

The Directors have considered the risks and uncertainties arising from the coronavirus pandemic which began to take effect on a global scale from February 2020 onwards. Whilst trading remains difficult and the ultimate outcome of the coronavirus pandemic is beyond any normal range of predictability, the Directors have a reasonable expectation that, with their support, the company has adequate resources to continue trading and, therefore, continue to adopt the going concern basis in preparing these financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

25% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - 2 ).

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 April 2019

1,036

Additions

136

At 31 March 2020

1,172

DEPRECIATION

At 1 April 2019

514

Charge for year

208

At 31 March 2020

722

NET BOOK VALUE

At 31 March 2020

450

At 31 March 2019

522

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Tax

77

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Tax

-

470

VAT

99

201

Directors' current accounts

2,828

1,648

Accruals and deferred income

930

1,092

3,857

3,411

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

100

Ordinary

£1

100

100