Company Registration No. 13550685 (England and Wales)
G2K LTD
Unaudited accounts
for the period from 1 September 2023 to 31 March 2024
G2K LTD
Unaudited accounts
Contents
G2K LTD
Company Information
for the period from 1 September 2023 to 31 March 2024
Directors
Gordon David Leak
Karen Elizabeth Leak
Katharine Erica Shelton
Geoffrey Frederick Groves
Company Number
13550685 (England and Wales)
Registered Office
The Hunters Inn
Longdon
Tewksbury
GL20 6AR
England
Accountants
Saccounts Limited
190 Cathedral Road
Cardiff
CF11 9JE
G2K LTD
Statement of financial position
as at 31 March 2024
Intangible assets
12,859
15,586
Tangible assets
733,500
743,643
Cash at bank and in hand
26,418
35,809
Creditors: amounts falling due within one year
(922,178)
(903,205)
Net current liabilities
(889,516)
(860,452)
Net liabilities
(143,157)
(101,223)
Called up share capital
4
4
Profit and loss account
(143,161)
(101,227)
Shareholders' funds
(143,157)
(101,223)
For the period ending 31 March 2024 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 directors acknowledge their 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 of Directors and authorised for issue on 7 August 2024 and were signed on its behalf by
Gordon David Leak
Director
Company Registration No. 13550685
G2K LTD
Notes to the Accounts
for the period from 1 September 2023 to 31 March 2024
G2K LTD is a private company, limited by shares, registered in England and Wales, registration number 13550685. The registered office is The Hunters Inn, Longdon, Tewksbury, GL20 6AR, England.
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.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The preparation of the accounts under the going concern basis remains appropriate as the directors have confirmed that they will continue to give financial support to the company until such time as its position improves.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when the risks and rewards of ownership have transferred to the buyer.
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:
Fixtures & fittings
20% to 33%
Intangible fixed assets (including purchased goodwill and til software) are included at cost less accumulated amortisation. They are depreciated at a rate of 20% per year.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
G2K LTD
Notes to the Accounts
for the period from 1 September 2023 to 31 March 2024
4
Intangible fixed assets
Goodwill
Other
Total
At 1 September 2023
20,000
3,379
23,379
At 31 March 2024
20,000
3,379
23,379
At 1 September 2023
6,666
1,127
7,793
Charge for the period
2,333
394
2,727
At 31 March 2024
8,999
1,521
10,520
At 31 March 2024
11,001
1,858
12,859
At 31 August 2023
13,334
2,252
15,586
5
Tangible fixed assets
Land & buildings
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 September 2023
737,005
60,169
797,174
At 31 March 2024
737,005
70,728
807,733
At 1 September 2023
24,567
28,964
53,531
Charge for the period
8,598
12,104
20,702
At 31 March 2024
33,165
41,068
74,233
At 31 March 2024
703,840
29,660
733,500
At 31 August 2023
712,438
31,205
743,643
Amounts falling due within one year
7
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
2,421
1,581
Other creditors
15,309
12,259
Loans from directors
885,129
870,129
G2K LTD
Notes to the Accounts
for the period from 1 September 2023 to 31 March 2024
Allotted, called up and fully paid:
400 Ordinary shares of £0.01 each
4
4
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Advances / (Credits) to Directors
(839,241)
-
-
(839,241)
Advances / (Credits) to Directors
(25,380)
-
-
(25,380)
Geoffrey Frederick Groves
Advances / (Credits) to Directors
(5,508)
-
-
(5,508)
During the year the directors entered into the above advances and credits with the company.
In addition, directors emoluments were £36,191. The emoluments of the highest paid director were £18,868.
10
Average number of employees
During the period the average number of employees was 15 (2023: 14).