Company Registration No. 08285907 (England and Wales)
G6 Associates Limited
Unaudited accounts
for the year ended 31 March 2023
G6 Associates Limited
Unaudited accounts
Contents
G6 Associates Limited
Company Information
for the year ended 31 March 2023
Company Number
08285907 (England and Wales)
Registered Office
Congress House
14 Lyon Road
London
HA1 2EN
Accountants
Balmoral Consultancy Services Limited
Congress House
14 Lyon Road
Harrow
Middlesex
HA1 2EN
G6 Associates Limited
Statement of financial position
as at 31 March 2023
Tangible assets
31,481
39,801
Cash at bank and in hand
43,994
17,394
Creditors: amounts falling due within one year
(13,586)
(17,210)
Net current assets
30,840
12,208
Total assets less current liabilities
62,321
52,009
Creditors: amounts falling due after more than one year
(10,383)
(14,833)
Called up share capital
100
100
Profit and loss account
51,838
37,076
Shareholders' funds
51,938
37,176
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 11 October 2023 and were signed on its behalf by
G A Feingold
Director
Company Registration No. 08285907
G6 Associates Limited
Notes to the Accounts
for the year ended 31 March 2023
G6 Associates Limited is a private company, limited by shares, registered in England and Wales, registration number 08285907. The registered office is Congress House, 14 Lyon Road, London, HA1 2EN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% reducing balance
Fixtures & fittings
25% reducing balance
Computer equipment
25% reducing balance
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
-it is probable that the Company will receive the consideration due under the contract;
-the stage of completion of the contract at the end of the reporting period can be measured reliably; and
-the costs incurred and the costs to complete the contract can be measured reliably.
Interest income is recognised in the Statement of income and retained earnings using the effective interest method.
G6 Associates Limited
Notes to the Accounts
for the year ended 31 March 2023
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Tax is recognised in the Statement of income and retained earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
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Tangible fixed assets
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2022
42,090
26,043
3,023
71,156
At 31 March 2023
42,090
28,217
3,023
73,330
At 1 April 2022
10,523
19,330
1,502
31,355
Charge for the year
7,892
2,222
380
10,494
At 31 March 2023
18,415
21,552
1,882
41,849
At 31 March 2023
23,675
6,665
1,141
31,481
At 31 March 2022
31,567
6,713
1,521
39,801
G6 Associates Limited
Notes to the Accounts
for the year ended 31 March 2023
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
4,450
4,450
Taxes and social security
1,007
949
Loans from directors
3,497
729
7
Creditors: amounts falling due after more than one year
2023
2022
8
Transactions with related parties
Included in other creditors is the sum of £3,497 (2022: £729) due to the director. There are no terms as to interest or repayment of this loan.
During the year under review, the company paid £2,000 (2022: £2,000) of dividends to the director.
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Average number of employees
During the year the average number of employees was 1 (2022: 1).