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COMPANY REGISTRATION NUMBER: 04439059
T G Corporate Limited
Filleted Unaudited Financial Statements
30 June 2023
T G Corporate Limited
Financial Statements
Year ended 30 June 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
T G Corporate Limited
Statement of Financial Position
30 June 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
23,496
31,282
Investments
6
1
1
--------
--------
23,497
31,283
Current assets
Debtors
7
1,251,780
280,419
Cash at bank and in hand
23,261
31,469
------------
---------
1,275,041
311,888
Creditors: amounts falling due within one year
8
1,209,292
249,339
------------
---------
Net current assets
65,749
62,549
--------
--------
Total assets less current liabilities
89,246
93,832
--------
--------
Net assets
89,246
93,832
--------
--------
Capital and reserves
Called up share capital
2
2
Profit and loss account
89,244
93,830
--------
--------
Shareholders funds
89,246
93,832
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
T G Corporate Limited
Statement of Financial Position (continued)
30 June 2023
These financial statements were approved by the board of directors and authorised for issue on 29 February 2024 , and are signed on behalf of the board by:
Mrs T Ralph
Director
Company registration number: 04439059
T G Corporate Limited
Notes to the Financial Statements
Year ended 30 June 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The entity has taken advantage of the option not to prepare consolidated financial statements contained in Section 399 of the Companies Act 2006 on the basis that the entity and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles
-
25% reducing balance
Equipment
-
15% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 July 2022 and 30 June 2023
54,995
6,948
61,943
--------
-------
--------
Depreciation
At 1 July 2022
24,061
6,600
30,661
Charge for the year
7,734
52
7,786
--------
-------
--------
At 30 June 2023
31,795
6,652
38,447
--------
-------
--------
Carrying amount
At 30 June 2023
23,200
296
23,496
--------
-------
--------
At 30 June 2022
30,934
348
31,282
--------
-------
--------
6. Investments
Shares in group undertakings
£
Cost
At 1 July 2022 and 30 June 2023
1
----
Impairment
At 1 July 2022 and 30 June 2023
----
Carrying amount
At 30 June 2023
1
----
At 30 June 2022
1
----
7. Debtors
2023
2022
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
1,251,780
280,419
------------
---------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
1,209,292
249,339
------------
---------
9. Director's advances, credits and guarantees
At the year end the company owed £1,207,517 to the director (2022: £221,774).
10. Related party transactions
At the year end the company was owed £1,251,780 (2022: £280,419) by a group company.