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REGISTERED NUMBER: 03700068 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

G LIMITED

G LIMITED (REGISTERED NUMBER: 03700068)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2021




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


G LIMITED

COMPANY INFORMATION
for the year ended 31 December 2021







DIRECTOR: Mr G K Morgan





SECRETARY: Mrs E R Morgan





REGISTERED OFFICE: Carradine House
237 Regents Park Road
London
N3 3LF





REGISTERED NUMBER: 03700068 (England and Wales)





ACCOUNTANTS: Raffingers LLP
Chartered Certified Accountants
19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD

G LIMITED (REGISTERED NUMBER: 03700068)

ABRIDGED BALANCE SHEET
31 December 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,267 1,478
Tangible assets 5 2,195 2,926
3,462 4,404

CURRENT ASSETS
Stocks 12,381 7,584
Debtors 1,143,558 1,167,950
Cash at bank 67,051 99,026
1,222,990 1,274,560
CREDITORS
Amounts falling due within one year 796,160 776,681
NET CURRENT ASSETS 426,830 497,879
TOTAL ASSETS LESS CURRENT
LIABILITIES

430,292

502,283

CREDITORS
Amounts falling due after more than one year 6 67,908 97,898
NET ASSETS 362,384 404,385

CAPITAL AND RESERVES
Called up share capital 157,725 157,725
Share premium 67,275 67,275
Retained earnings 137,384 179,385
SHAREHOLDERS' FUNDS 362,384 404,385

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

G LIMITED (REGISTERED NUMBER: 03700068)

ABRIDGED BALANCE SHEET - continued
31 December 2021


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2021 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director and authorised for issue on 27 May 2022 and were signed by:





Mr G K Morgan - Director


G LIMITED (REGISTERED NUMBER: 03700068)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2021

1. STATUTORY INFORMATION

G 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 presentation currency of the financial statements is the Pound Sterling (£).


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.

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

Intangible assets
Patents and licences are amortised over 10 years on the straight line basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Government grants
Government grants, including non-monetary grants shall not be recognised until there is reasonable assurance that:
(a) the entity will comply with the conditions attaching to them; and
(b) the grants will be received.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

G LIMITED (REGISTERED NUMBER: 03700068)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2021

2. ACCOUNTING POLICIES - continued

Foreign currencies
Transactions in foreign currency are recorded at the rates of exchange prevailing on the dates of the transactions. At each balance sheet date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing at the balance sheet date. Exchange differences are charged or credited to administrative expenses in the Statement of Comprehensive Income.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transactions costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2021
and 31 December 2021 56,629
AMORTISATION
At 1 January 2021 55,151
Amortisation for year 211
At 31 December 2021 55,362
NET BOOK VALUE

At 31 December 2021 1,267
At 31 December 2020 1,478

G LIMITED (REGISTERED NUMBER: 03700068)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2021

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2021
and 31 December 2021 183,905
DEPRECIATION
At 1 January 2021 180,979
Charge for year 731
At 31 December 2021 181,710
NET BOOK VALUE
At 31 December 2021 2,195
At 31 December 2020 2,926

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS
2021 2020
£    £   
Repayable by instalments
Bank loans 25,000 -

7. SECURED DEBTS

The following secured debts are included within creditors:

2021 2020
£    £   
Bank loans 162,025 122,888

Bank loans are secured by way of a fixed and floating charge over the assets held by the company.

8. CONTINGENT LIABILITIES

There were no contingent liabilities at 31 December 2021 or 31 December 2020.

9. RELATED PARTY DISCLOSURES

At the balance sheet date, the company was owed £551,821 (2020 - £512,286) by Digital Giving Limited, £163 (2020 - £163) by FX Change 4 Good Limited, £477,472 (2020 - £477,472) by The Royalty Co Limited and £49,132 by Blu Globin Limited, companies in which Mr G K Morgan is also a director.

At the balance sheet date, the company owed £100,134 (2020 - £100,000) to SM Creps Limited, a company controlled by a close family member of the director.