Silverfin false 28/02/2023 01/03/2022 28/02/2023 Mr G Cinao 13/02/2001 Mr G Tilotta 13/02/2001 23 October 2023 The principal activity of the Company during the financial year was the service of a licensed restaurant. 04153995 2023-02-28 04153995 bus:Director1 2023-02-28 04153995 bus:Director2 2023-02-28 04153995 2022-02-28 04153995 core:CurrentFinancialInstruments 2023-02-28 04153995 core:CurrentFinancialInstruments 2022-02-28 04153995 core:Non-currentFinancialInstruments 2023-02-28 04153995 core:Non-currentFinancialInstruments 2022-02-28 04153995 core:ShareCapital 2023-02-28 04153995 core:ShareCapital 2022-02-28 04153995 core:RetainedEarningsAccumulatedLosses 2023-02-28 04153995 core:RetainedEarningsAccumulatedLosses 2022-02-28 04153995 core:Goodwill 2022-02-28 04153995 core:Goodwill 2023-02-28 04153995 core:Vehicles 2022-02-28 04153995 core:FurnitureFittings 2022-02-28 04153995 core:Vehicles 2023-02-28 04153995 core:FurnitureFittings 2023-02-28 04153995 core:ImmediateParent core:CurrentFinancialInstruments 2023-02-28 04153995 core:ImmediateParent core:CurrentFinancialInstruments 2022-02-28 04153995 2021-02-28 04153995 bus:OrdinaryShareClass1 2023-02-28 04153995 2022-03-01 2023-02-28 04153995 bus:FullAccounts 2022-03-01 2023-02-28 04153995 bus:SmallEntities 2022-03-01 2023-02-28 04153995 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 04153995 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 04153995 bus:Director1 2022-03-01 2023-02-28 04153995 bus:Director2 2022-03-01 2023-02-28 04153995 core:Goodwill core:TopRangeValue 2022-03-01 2023-02-28 04153995 core:Vehicles 2022-03-01 2023-02-28 04153995 core:FurnitureFittings 2022-03-01 2023-02-28 04153995 2021-03-01 2022-02-28 04153995 core:Non-currentFinancialInstruments 2022-03-01 2023-02-28 04153995 bus:OrdinaryShareClass1 2022-03-01 2023-02-28 04153995 bus:OrdinaryShareClass1 2021-03-01 2022-02-28 iso4217:GBP xbrli:pure xbrli:shares

Company No: 04153995 (England and Wales)

THREE G'S LIMITED

Unaudited Financial Statements
For the financial year ended 28 February 2023
Pages for filing with the registrar

THREE G'S LIMITED

Unaudited Financial Statements

For the financial year ended 28 February 2023

Contents

THREE G'S LIMITED

STATEMENT OF FINANCIAL POSITION

As at 28 February 2023
THREE G'S LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 28 February 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 4 38,256 42,345
38,256 42,345
Current assets
Stocks 6,500 5,500
Debtors 5 4,558 87,970
Cash at bank and in hand 395,137 513,650
406,195 607,120
Creditors: amounts falling due within one year 6 ( 78,526) ( 116,520)
Net current assets 327,669 490,600
Total assets less current liabilities 365,925 532,945
Creditors: amounts falling due after more than one year 7 ( 260,000) ( 302,657)
Provision for liabilities 8 ( 9,065) ( 9,991)
Net assets 96,860 220,297
Capital and reserves
Called-up share capital 9 100 100
Profit and loss account 96,760 220,197
Total shareholder's funds 96,860 220,297

For the financial year ending 28 February 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Three G's Limited (registered number: 04153995) were approved and authorised for issue by the Director on 23 October 2023. They were signed on its behalf by:

Mr G Cinao
Director
Mr G Tilotta
Director
THREE G'S LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 February 2023
THREE G'S LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 February 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Three G's Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 1 - 3 College Yard, Worcester, WR1 2LB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life, as follows:

Vehicles 25 % reducing balance
Fixtures and fittings 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

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.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 18 16

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 March 2022 52,500 52,500
At 28 February 2023 52,500 52,500
Accumulated amortisation
At 01 March 2022 52,500 52,500
At 28 February 2023 52,500 52,500
Net book value
At 28 February 2023 0 0
At 28 February 2022 0 0

4. Tangible assets

Vehicles Fixtures and fittings Total
£ £ £
Cost
At 01 March 2022 13,450 161,104 174,554
Additions 0 7,140 7,140
At 28 February 2023 13,450 168,244 181,694
Accumulated depreciation
At 01 March 2022 5,674 126,535 132,209
Charge for the financial year 1,944 9,285 11,229
At 28 February 2023 7,618 135,820 143,438
Net book value
At 28 February 2023 5,832 32,424 38,256
At 28 February 2022 7,776 34,569 42,345

5. Debtors

2023 2022
£ £
Trade debtors 1,777 2,972
Amounts owed by Parent undertakings 381 82,713
Other debtors 2,400 2,285
4,558 87,970

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 8,891 16,747
Taxation and social security 53,322 84,177
Obligations under finance leases and hire purchase contracts 3,278 3,648
Other creditors 13,035 11,948
78,526 116,520

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 260,000 300,000
Obligations under finance leases and hire purchase contracts 0 2,657
260,000 302,657

There are no amounts included above in respect of which any security has been given by the small entity.

8. Deferred tax

2023 2022
£ £
At the beginning of financial year ( 9,991) ( 6,885)
Credited/(charged) to the Statement of Income and Retained Earnings 926 ( 3,106)
At the end of financial year ( 9,065) ( 9,991)

9. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

10. Related party transactions

Transactions with entities in which the entity itself has a participating interest

2023 2022
£ £
Amount owed to parent company 380 82,813

Dividends were declared during the year totalling £183,000 (2022: £90,000).

Transactions with the entity's directors

2023 2022
£ £
Amount owed to directors 1,412 122