Registered number
10050568
G8 PARTNERS GROUP LIMITED
Filleted Accounts
31 March 2024
G8 PARTNERS GROUP LIMITED
Registered number: 10050568
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Investments 4 525,000 525,000
Current assets
Debtors 5 690 994
Cash at bank and in hand 11,542 20,235
12,232 21,229
Creditors: amounts falling due within one year 6 (7,175) (12,316)
Net current assets 5,057 8,913
Total assets less current liabilities 530,057 533,913
Creditors: amounts falling due after more than one year 7 (264,833) (271,183)
Provisions for liabilities (8,602) (8,602)
Net assets 256,622 254,128
Capital and reserves
Called up share capital 220,000 220,000
Profit and loss account 36,622 34,128
Shareholders' funds 256,622 254,128
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 N Tanna
Director
Approved by the board on 15 August 2024
G8 PARTNERS GROUP LIMITED
Notes to the Accounts
for the year ended 31 March 2024
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 received or receivable, net of discounts and value added taxes. Turnover includes rent receivable for the year from the company's investment properties.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 4 years
Investment properties
Investment properties are measured at fair value. Changes in fair value are included in the profit and loss account.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Fixtures, fittings and equipments
£
Cost
At 1 April 2023 1,974
At 31 March 2024 1,974
Depreciation
At 1 April 2023 1,974
At 31 March 2024 1,974
Net book value
At 31 March 2024 -
4 Investments
Investment
property
£
Cost / Valuation
At 1 April 2023 525,000
At 31 March 2024 525,000
Historical cost
At 1 April 2023 479,724
At 31 March 2024 479,724
The company's investment properties are valued by the directors at the open market values as at 31 March 2024.
5 Debtors 2024 2023
£ £
Other debtors 690 994
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors - 19
Other creditors 7,175 12,297
7,175 12,316
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 139,833 271,183
Other creditors 125,000 -
264,833 271,183
Bank loans are secured by first legal charge over the company's investment properties.
8 Other information
G8 PARTNERS GROUP LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
75c Norton Road
Wembley
Middlesex
HA0 4RG
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