Groe Ventures Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07586976 (England and Wales)

Groe Ventures Limited

Unaudited Financial Statements

for the year ended

31 March 2020

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

Mrs C C M Hooper

REGISTERED OFFICE:

Unit 1 D

Rossett Business Village

Rossett

Wrexham

Wrexham

LL12 0AY

REGISTERED NUMBER:

07586976 (England and Wales)

ACCOUNTANTS:

Gardners

Brynford House

21 Brynford Street

Holywell

Flintshire

CH8 7RD

FIXED ASSETS

Investments

4

-

43,360

CURRENT ASSETS

Debtors

5

-

2,000,000

Cash at bank

-

348

-

2,000,348

CREDITORS

Amounts falling due within one year

6

-

44,623

NET CURRENT ASSETS

-

1,955,725

TOTAL ASSETS LESS CURRENT LIABILITIES

-

1,999,085

CAPITAL AND RESERVES

Called up share capital

7

-

100

Retained earnings

-

1,998,985

SHAREHOLDERS' FUNDS

-

1,999,085

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 director acknowledges her 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 August 2020 and were signed by:

Mrs C C M Hooper - Director

1.	STATUTORY INFORMATION

Groe Ventures 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.

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.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and

Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement

of financial position 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 - NIL).

4.	FIXED ASSET INVESTMENTS

2020

2019

£

£

Shares in group undertakings

-

27,775

Other investments not loans

-

15,585

-

43,360

Additional information is as follows:

Shares in

group

undertakings

£

COST

At 1 April 2019

27,775

Disposals

(27,775

)

At 31 March 2020

-

NET BOOK VALUE

At 31 March 2020

-

At 31 March 2019

27,775

Investments (neither listed nor unlisted) were as follows:

2020

2019

£

£

Cost

15,585

15,585

No description

(15,585

)

-

-

15,585

Groe Ventures Limited is the parent company of UK Language Courses Limited. During the year, the company

acquired 100% of the share capital within Groe Properties Limited, which was dormant throughout the year.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Other debtors

-

2,000,000

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Amounts owed to group undertakings

-

44,623

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

100

Ordinary

1

-

100

8.	RELATED PARTY DISCLOSURES

Included in other debtors is an amount outstanding from the directors of £54,408. Interest has been charged on this

balance at 3%.