Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-302023-06-3062022-07-01falseSurveyors and property agents7falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07802375 2022-07-01 2023-06-30 07802375 2021-07-01 2022-06-30 07802375 2023-06-30 07802375 2022-06-30 07802375 2021-07-01 07802375 1 2021-07-01 2022-06-30 07802375 d:Director1 2022-07-01 2023-06-30 07802375 e:ComputerEquipment 2022-07-01 2023-06-30 07802375 e:ComputerEquipment 2023-06-30 07802375 e:ComputerEquipment 2022-06-30 07802375 e:ComputerEquipment e:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 07802375 e:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-07-01 2023-06-30 07802375 e:ComputerSoftware 2023-06-30 07802375 e:ComputerSoftware 2022-06-30 07802375 e:CurrentFinancialInstruments 2023-06-30 07802375 e:CurrentFinancialInstruments 2022-06-30 07802375 e:CurrentFinancialInstruments e:WithinOneYear 2023-06-30 07802375 e:CurrentFinancialInstruments e:WithinOneYear 2022-06-30 07802375 e:ShareCapital 2023-06-30 07802375 e:ShareCapital 2022-06-30 07802375 e:ShareCapital 2021-07-01 07802375 e:SharePremium 2023-06-30 07802375 e:SharePremium 2022-06-30 07802375 e:SharePremium 2021-07-01 07802375 e:SharePremium 1 2021-07-01 2022-06-30 07802375 e:CapitalRedemptionReserve 2023-06-30 07802375 e:CapitalRedemptionReserve 2022-06-30 07802375 e:CapitalRedemptionReserve 2021-07-01 07802375 e:RevaluationReserve 1 2021-07-01 2022-06-30 07802375 e:RetainedEarningsAccumulatedLosses 2022-07-01 2023-06-30 07802375 e:RetainedEarningsAccumulatedLosses 2023-06-30 07802375 e:RetainedEarningsAccumulatedLosses 2021-07-01 2022-06-30 07802375 e:RetainedEarningsAccumulatedLosses 2022-06-30 07802375 e:RetainedEarningsAccumulatedLosses 2021-07-01 07802375 e:RetainedEarningsAccumulatedLosses 1 2021-07-01 2022-06-30 07802375 d:FRS102 2022-07-01 2023-06-30 07802375 d:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 07802375 d:FullAccounts 2022-07-01 2023-06-30 07802375 d:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 07802375 2 2022-07-01 2023-06-30 07802375 e:ComputerSoftware e:OwnedIntangibleAssets 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure

Registered number: 07802375










GN2 LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2023

 
GN2 LIMITED
REGISTERED NUMBER: 07802375

BALANCE SHEET
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
1,782
2,317

Tangible assets
 5 
303
949

  
2,085
3,266

Current assets
  

Debtors: amounts falling due within one year
 6 
66,875
82,106

Bank and cash balances
  
96,788
6,529

  
163,663
88,635

Creditors: amounts falling due within one year
 7 
(61,750)
(44,082)

Net current assets
  
 
 
101,913
 
 
44,553

Total assets less current liabilities
  
103,998
47,819

  

Net assets
  
103,998
47,819


Capital and reserves
  

Called up share capital 
  
950
950

Capital redemption reserve
  
50
50

Profit and loss account
  
102,998
46,819

  
103,998
47,819


Page 1

 
GN2 LIMITED
REGISTERED NUMBER: 07802375
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Paul Aubery
Director

Date: 19 February 2024

The notes on pages 4 to 10 form part of these financial statements.

Page 2

 
GN2 LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2023


Called up share capital
Share premium account
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£
£


At 1 July 2021
950
3
50
205,355
206,358


Comprehensive income for the year

Loss for the year
-
-
-
(67,977)
(67,977)

Redemption of share capital
-
(3)
-
(50,216)
(50,219)

Dividends: Equity capital
-
-
-
(40,343)
(40,343)



At 1 July 2022
950
-
50
46,819
47,819


Comprehensive income for the year

Profit for the year
-
-
-
56,179
56,179


At 30 June 2023
950
-
50
102,998
103,998


The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
GN2 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

The company is a private company limited by share capital, incorporated in England and Wales.The address of the registered office is 14th Floor, 33 Cavendish Square, London, W1G 0PW.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

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.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 4

 
GN2 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Taxation

Tax is recognised in profit or loss 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.

 
2.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 Amortisation is provided on the following bases:

Development expenditure
-
20%
Straight line

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
GN2 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
20%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Debtors

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.

 
2.10

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.

 
2.11

Creditors

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.

Page 6

 
GN2 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.12

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.13

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2022 - 7).

Page 7

 
GN2 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

4.


Intangible assets




Computer software

£



Cost


At 1 July 2022
2,673



At 30 June 2023

2,673



Amortisation


At 1 July 2022
356


Charge for the year on owned assets
535



At 30 June 2023

891



Net book value



At 30 June 2023
1,782



At 30 June 2022
2,317



Page 8

 
GN2 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

5.


Tangible fixed assets





Computer equipment

£



Cost 


At 1 July 2022
3,230



At 30 June 2023

3,230



Depreciation


At 1 July 2022
2,281


Charge for the year on owned assets
646



At 30 June 2023

2,927



Net book value



At 30 June 2023
303



At 30 June 2022
949


6.


Debtors

2023
2022
£
£


Trade debtors
56,246
67,559

Other debtors
4,768
2,152

Prepayments and accrued income
5,861
12,395

66,875
82,106


Page 9

 
GN2 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
10,237
7,743

Corporation tax
959
-

Other taxation and social security
35,593
21,499

Other creditors
9,187
9,174

Accruals and deferred income
5,774
5,666

61,750
44,082



8.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £4,731 (2022 - £8,593). At the year end there was a pension liability of £1,011 (2022- £ 999).

 
Page 10