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2017-11-30 08155332 dpl-frs:DistributionCosts dpl-frs:Item7 2016-12-01 2017-11-30 08155332 dpl-frs:AdministrativeExpenses dpl-frs:Item7 2016-12-01 2017-11-30 08155332 dpl-frs:Item8 2016-12-01 2017-11-30 08155332 dpl-frs:Item8 2016-11-30 08155332 dpl-frs:Item8 2017-11-30 08155332 dpl-frs:CostSales dpl-frs:Item8 2016-12-01 2017-11-30 08155332 dpl-frs:CostSales dpl-frs:Item8 2016-11-30 08155332 dpl-frs:CostSales dpl-frs:Item8 2017-11-30 08155332 dpl-frs:DistributionCosts dpl-frs:Item8 2016-12-01 2017-11-30 08155332 dpl-frs:AdministrativeExpenses dpl-frs:Item8 2016-12-01 2017-11-30 08155332 dpl-frs:Item9 2016-12-01 2017-11-30 08155332 dpl-frs:Item9 2016-11-30 08155332 dpl-frs:Item9 2017-11-30 08155332 dpl-frs:CostSales dpl-frs:Item9 2016-12-01 2017-11-30 08155332 dpl-frs:CostSales dpl-frs:Item9 2016-11-30 08155332 dpl-frs:CostSales dpl-frs:Item9 2017-11-30 08155332 dpl-frs:DistributionCosts dpl-frs:Item9 2016-12-01 2017-11-30 08155332 dpl-frs:AdministrativeExpenses dpl-frs:Item9 2016-12-01 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08155332 dpl-frs:CostSales dpl-frs:Item12 2016-12-01 2017-11-30 08155332 dpl-frs:CostSales dpl-frs:Item12 2016-11-30 08155332 dpl-frs:CostSales dpl-frs:Item12 2017-11-30 08155332 dpl-frs:DistributionCosts dpl-frs:Item12 2016-12-01 2017-11-30 08155332 dpl-frs:AdministrativeExpenses dpl-frs:Item12 2016-12-01 2017-11-30 08155332 1 2016-12-01 2017-11-30 08155332 frs-countries:EnglandWales 2016-12-01 2017-11-30
Registered number: 08155332
Growth Capital Ventures Limited
Unaudited Financial Statements
For The Year Ended 30 November 2018
Certax Accounting (Durham) LLP

Unit 8&9, Parsons Court Welbury Way
Aycliffe Ind Park
Newton Aycliffe
Co. Durham
DL5 6ZE
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Balance Sheet
Registered number: 08155332
2018 2017
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 3 49,991 50,493
Tangible Assets 4 13,122 14,537
63,113 65,030
CURRENT ASSETS
Stocks 5 6,869 -
Debtors 6 352,731 139,941
Investments 7 89,520 -
Cash at bank and in hand 291,072 481,114
740,192 621,055
Creditors: Amounts Falling Due Within One Year 8 (374 ) (123,573 )
NET CURRENT ASSETS (LIABILITIES) 739,818 497,482
TOTAL ASSETS LESS CURRENT LIABILITIES 802,931 562,512
NET ASSETS 802,931 562,512
CAPITAL AND RESERVES
Called up share capital 9 3,577 2,234
Share premium account 2,004,082 1,472,476
Other reserves 89,520 -
Profit and Loss Account (1,294,248 ) (912,198 )
SHAREHOLDERS' FUNDS 802,931 562,512
Page 1
For the year ending 30 November 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
  • The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Craig Peterson
02/06/2019

The notes on pages 3 to 6 form part of these financial statements.
Page 2
Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3. Research and Development
Expenditure on research and development is written off in the year it is incurred.
1.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 20% Reducing Balance
1.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
Page 3
1.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year 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.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows:

16
3. Intangible Assets
Development Costs
£
Cost
As at 1 December 2017 52,825
Additions 12,000
As at 30 November 2018 64,825
Amortisation
As at 1 December 2017 2,332
Provided during the period 12,502
As at 30 November 2018 14,834
Net Book Value
As at 30 November 2018 49,991
As at 1 December 2017 50,493
Page 4
4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 December 2017 19,536
Additions 5,684
As at 30 November 2018 25,220
Depreciation
As at 1 December 2017 4,999
Provided during the period 7,099
As at 30 November 2018 12,098
Net Book Value
As at 30 November 2018 13,122
As at 1 December 2017 14,537
5. Stocks
2018 2017
£ £
Stock - work in progress 6,869 -
6,869 -
6. Debtors
2018 2017
£ £
Due within one year
Trade debtors 136,721 34,846
Prepayments and accrued income 215,810 15,734
Corporation tax recoverable assets - 71,714
VAT - 17,547
Amounts owed by other participating interests 200 100
352,731 139,941
7. Current Asset Investments
2018 2017
£ £
Unlisted investments 89,520 -
89,520 -
Page 5
8. Creditors: Amounts Falling Due Within One Year
2018 2017
£ £
Trade creditors 69,082 56,889
Corporation tax (98,868 ) -
Other taxes and social security 20,270 16,970
VAT 4,910 -
Other creditors 780 693
Accruals and deferred income - 49,020
Amounts owed to related parties 4,200 1
374 123,573
9. Share Capital
2018 2017
Allotted, Called up and fully paid 3,577 2,234
10. General Information
Growth Capital Ventures Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08155332. The registered office is Carlton House, 15 Parsons Court, Co Durham, DL5 6ZE.
Page 6