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REGISTERED NUMBER: 10227204 (England and Wales)




































FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2024

FOR

G - TWO SOUTH LIMITED

G - TWO SOUTH LIMITED (REGISTERED NUMBER: 10227204)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


G - TWO SOUTH LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH JUNE 2024







DIRECTORS: S P Glanville
P A Groves





SECRETARY: Mrs M Groves





REGISTERED OFFICE: Unit 7c Venture House
The Tanneries
East Steet, Titchfield
Fareham
Hampshire
PO14 4AR





REGISTERED NUMBER: 10227204 (England and Wales)





ACCOUNTANTS: Compass Accountants Limited
Chartered Accountants
Venture House
The Tanneries
East Street
Titchfield
Hampshire
PO14 4AR

G - TWO SOUTH LIMITED (REGISTERED NUMBER: 10227204)

BALANCE SHEET
30TH JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,504 2,532

CURRENT ASSETS
Debtors 5 4,976 8,585
Cash at bank 440,392 451,267
445,368 459,852
CREDITORS
Amounts falling due within one year 6 83,380 84,986
NET CURRENT ASSETS 361,988 374,866
TOTAL ASSETS LESS CURRENT
LIABILITIES

363,492

377,398

PROVISIONS FOR LIABILITIES 376 481
NET ASSETS 363,116 376,917

CAPITAL AND RESERVES
Called up share capital 7 200 200
Retained earnings 362,916 376,717
SHAREHOLDERS' FUNDS 363,116 376,917

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5th August 2024 and were signed on its behalf by:




S P Glanville - Director



P A Groves - Director


G - TWO SOUTH LIMITED (REGISTERED NUMBER: 10227204)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2024


1. STATUTORY INFORMATION

G - Two South Limited is a private company limited by share capital and incorporated in England and Wales. The registered office is Venture House, The Tanneries, East Street, Titchfield, Hampshire, PO14 4AR.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Revenue for the provision of services is recognised when it is probable that an economic benefit will flow to the entity and the revenue and associated costs can be reliably measured. For continuing services, revenue is recognised when the stage of completion can be reliably measured.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 3 ) .

G - TWO SOUTH LIMITED (REGISTERED NUMBER: 10227204)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024


4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1st July 2023 13,283
Additions 940
At 30th June 2024 14,223
DEPRECIATION
At 1st July 2023 10,751
Charge for year 1,968
At 30th June 2024 12,719
NET BOOK VALUE
At 30th June 2024 1,504
At 30th June 2023 2,532

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,976 8,585

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 60,946 66,301
Other creditors 22,434 18,685
83,380 84,986

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100
50 Ordinary A £1 50 50
45 Ordinary B £1 45 45
5 Ordinary C £1 5 5
200 200