Registered number
11213710
3G INVESTMENTS LTD
Unaudited Filleted Accounts
28 February 2023
TEMPLETONS (UK) LIMITED
CHARTERED ACCOUNTANTS
309 HOE STREET
WALTHAMSTOW
LONDON E17 9BG
3G INVESTMENTS LTD
Registered number: 11213710
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Investments 3 230,000 181,786
Current assets
Debtors 4 - 6,000
Cash at bank and in hand 11,826 9,671
11,826 15,671
Creditors: amounts falling due within one year 5 (59,527) (64,180)
Net current liabilities (47,701) (48,509)
Total assets less current liabilities 182,299 133,277
Creditors: amounts falling due after more than one year 6 (128,560) (128,560)
Provisions for liabilities (9,161) -
Net assets 44,578 4,717
Capital and reserves
Called up share capital 3 3
Revaluation reserve 7 39,053 -
Profit and loss account 5,522 4,714
Shareholders' funds 44,578 4,717
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 G Sidhar Ms A Pal
Director Director
Approved by the board on 16 November 2023
3G INVESTMENTS LTD
Notes to the Accounts
for the year ended 28 February 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 receivable and net of discounts. Turnover includes revenue earned from the 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.
Investments
Investment properties are revalued annually by the directors, and the revaluation surpluses/ (deficits) are incorporated in the financial statements. No depreciation is provided in respect of Investment Properties. This constitutes a departure from Companies Act 2006, which requires fixed assets to be depreciated over their useful lives. This departure is necessary to enable the financial statements to give a true and fair view.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Investments
Other
investments
£
Cost
At 1 March 2022 181,786
Revaluation 48,214
At 28 February 2023 230,000
4 Debtors 2023 2022
£ £
Other debtors - 6,000
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors - 1,084
Taxation and social security costs 190 508
Other creditors 59,337 62,588
59,527 64,180
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 128,560 128,560
The loans are secured by debentures over the investment properties owned by the company.
7 Revaluation reserve 2023 2022
£ £
Gain on revaluation of land and buildings 48,214 -
Deferred taxation arising on the revaluation of land and buildings (9,161) -
At 28 February 2023 39,053 -
This related to the gain arising on the revaluation of the company's land and buildings as at
28th February 2023. The directors are not aware of any material change in value since the date
of valuation.
8 Other information
3G INVESTMENTS LTD is a private company limited by shares and incorporated in England.
Its registered office is:
5 Dorset Close
Hayes
UB4 8NT
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