Registered number
10050568
G8 PARTNERS GROUP LIMITED
Filleted Accounts
31 March 2023
G8 PARTNERS GROUP LIMITED
Registered number: 10050568
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 - 492
Investments 4 525,000 525,000
525,000 525,492
Current assets
Debtors 5 994 363
Cash at bank and in hand 20,235 11,003
21,229 11,366
Creditors: amounts falling due within one year 6 (12,316) (4,601)
Net current assets 8,913 6,765
Total assets less current liabilities 533,913 532,257
Creditors: amounts falling due after more than one year 7 (271,183) (271,183)
Provisions for liabilities (8,602) (8,602)
Net assets 254,128 252,472
Capital and reserves
Called up share capital 220,000 220,000
Profit and loss account 34,128 32,472
Shareholders' funds 254,128 252,472
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr N Tanna
Director
Approved by the board on 10 October 2023
G8 PARTNERS GROUP LIMITED
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes rent receivable for the year from the company's investment properties.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 4 years
Investment properties
Investment properties are measured at fair value. Changes in fair value are included in the profit and loss account.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Fixtures, fittings and equipments
£
Cost
At 1 April 2022 1,974
At 31 March 2023 1,974
Depreciation
At 1 April 2022 1,482
Charge for the year 492
At 31 March 2023 1,974
Net book value
At 31 March 2023 -
At 31 March 2022 492
4 Investments
Investment
properties
£
Cost / Valuation
At 1 April 2022 525,000
At 31 March 2023 525,000
Historical cost
At 1 April 2022 479,724
At 31 March 2023 479,724
The company's investment properties are valued by the directors at the open market values as at 31 March 2023.
5 Debtors 2023 2022
£ £
Other debtors 994 363
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 19 -
Other creditors 12,297 4,601
12,316 4,601
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 271,183 271,183
Bank loans are secured by first legal charge over the company's investment properties.
8 Other information
G8 PARTNERS GROUP LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
75c Norton Road
Wembley
Middlesex
HA0 4RG
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