1 April 2022 false No description of principal activity Taxfiler 2023.11.1 SC525834business:PrivateLimitedCompanyLtd2022-04-012023-03-31 SC5258342022-03-31 SC5258342022-04-012023-03-31 SC525834business:AuditExempt-NoAccountantsReport2022-04-012023-03-31 SC525834business:FilletedAccounts2022-04-012023-03-31 SC5258342023-03-31 SC525834business:Director12022-04-012023-03-31 SC5258342022-03-31 SC525834core:WithinOneYear2023-03-31 SC525834core:WithinOneYear2022-03-31 SC525834core:ShareCapitalcore:PreviouslyStatedAmount2023-03-31 SC525834core:ShareCapitalcore:PreviouslyStatedAmount2022-03-31 SC525834core:InvestmentPropertiesRevaluationReservecore:PreviouslyStatedAmount2023-03-31 SC525834core:InvestmentPropertiesRevaluationReservecore:PreviouslyStatedAmount2022-03-31 SC525834core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-03-31 SC525834core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-03-31 SC525834core:PreviouslyStatedAmount2023-03-31 SC525834core:PreviouslyStatedAmount2022-03-31 SC525834business:SmallEntities2022-04-012023-03-31 SC525834countries:Scotland2022-04-012023-03-31 SC525834core:PlantMachinery2022-04-012023-03-31 SC525834core:PlantMachinery2022-03-31 SC525834core:PlantMachinery2023-03-31 SC525834core:AfterOneYear2023-03-31 SC525834core:AfterOneYear2022-03-31 SC5258342021-04-012022-03-31 iso4217:GBP xbrli:pure
Company Registration No. SC525834 (Scotland)
G7 RSK Ltd Unaudited accounts for the year ended 31 March 2023
G7 RSK Ltd Unaudited accounts Contents
Page
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G7 RSK Ltd Company Information for the year ended 31 March 2023
Director
Tanu Sandhu
Company Number
SC525834 (Scotland)
Accountants
Kelly Tax Services Limited New Alderston House 3 Dove Wynd, Strathclyde Business Park Bellshill North Lanarkshire ML4 3FB
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G7 RSK Ltd Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
- 
173 
Investment property
295,000 
351,000 
295,000 
351,173 
Current assets
Debtors
61,913 
2,511 
Cash at bank and in hand
333,691 
243,829 
395,604 
246,340 
Creditors: amounts falling due within one year
(509,790)
(502,106)
Net current liabilities
(114,186)
(255,766)
Total assets less current liabilities
180,814 
95,407 
Provisions for liabilities
Deferred tax
(7,315)
(5,415)
Net assets
173,499 
89,992 
Capital and reserves
Called up share capital
1,000 
1,000 
Fair value reserve
71,113 
63,013 
Profit and loss account
101,386 
25,979 
Shareholders' funds
173,499 
89,992 
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 her 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 30 January 2024 and were signed on its behalf by
Tanu Sandhu Director Company Registration No. SC525834
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G7 RSK Ltd Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
G7 RSK Ltd is a private company, limited by shares, registered in Scotland, registration number SC525834.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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:
Plant & machinery
33% straight line
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards from ownership of the goods have transferred to the buyer. 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.
Deferred taxation
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 accounts. 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.
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G7 RSK Ltd Notes to the Accounts for the year ended 31 March 2023
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 April 2022
509 
At 31 March 2023
509 
Depreciation
At 1 April 2022
336 
Charge for the year
173 
At 31 March 2023
509 
Net book value
At 31 March 2023
- 
At 31 March 2022
173 
5
Investment property
2023 
£ 
Fair value at 1 April 2022
351,000 
Disposals
(66,000)
Net gain from fair value adjustments
10,000 
At 31 March 2023
295,000 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
1,313 
764 
Other debtors
- 
1,747 
1,313 
2,511 
Amounts falling due after more than one year
Other debtors
60,600 
- 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Taxes and social security
17,822 
2,165 
Loans from directors
491,968 
495,891 
Accruals
- 
4,050 
509,790 
502,106 
8
Average number of employees
During the year the average number of employees was 0 (2022: 0).
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