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Registration number: 06393540

G3 Events Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

G3 Events Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

G3 Events Limited

Company Information

Directors

Mrs Jayne Greenwell

Mr Andrew Greenwell

Registered office

1 Chapel Lane
Tattenhall
Chester
Cheshire
CH3 9EE

 

Accountants

Pennington Williams Limited
Chartered Certified Accountants
Stanhope House
Mark Rake
Bromborough
Wirral
Merseyside
CH62 2DN

 

G3 Events Limited

(Registration number: 06393540)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

174,566

156,144

Investments

6

12,210

-

 

186,776

156,144

Current assets

 

Debtors

7

792,531

243,802

Cash at bank and in hand

 

1,245,848

1,169,518

 

2,038,379

1,413,320

Creditors: Amounts falling due within one year

8

(447,772)

(417,158)

Net current assets

 

1,590,607

996,162

Total assets less current liabilities

 

1,777,383

1,152,306

Provisions for liabilities

(43,642)

(39,036)

Net assets

 

1,733,741

1,113,270

Capital and reserves

 

Called up share capital

9

200

200

Retained earnings

1,733,541

1,113,070

Shareholders' funds

 

1,733,741

1,113,270

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

G3 Events Limited

(Registration number: 06393540)
Balance Sheet as at 31 January 2024

Approved and authorised by the Board on 21 October 2024 and signed on its behalf by:
 

.........................................

Mrs Jayne Greenwell
Director

 

G3 Events Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
1 Chapel Lane
Tattenhall
Chester
Cheshire
CH3 9EE

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

G3 Events Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Long leasehold property

10 years

Furniture, fittings and equipment

10 years

Office equipment

10 years

Plant and machinery

3 and 5 years

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

3 years

 

G3 Events Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 11 (2023 - 9).

 

G3 Events Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost

At 1 February 2023

51,000

51,000

At 31 January 2024

51,000

51,000

Amortisation

At 1 February 2023

51,000

51,000

At 31 January 2024

51,000

51,000

Carrying amount

At 31 January 2024

-

-

5

Tangible assets

Long leasehold land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Cost or valuation

At 1 February 2023

13,686

27,886

268,225

4,555

Additions

-

946

102,778

-

Disposals

-

-

(8,014)

-

At 31 January 2024

13,686

28,832

362,989

4,555

Depreciation

At 1 February 2023

5,121

14,371

135,966

2,750

Charge for the year

1,368

2,883

74,183

456

Eliminated on disposal

-

-

(1,602)

-

At 31 January 2024

6,489

17,254

208,547

3,206

Carrying amount

At 31 January 2024

7,197

11,578

154,442

1,349

At 31 January 2023

8,565

13,515

132,259

1,805

 

G3 Events Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Total
£

Cost or valuation

At 1 February 2023

314,352

Additions

103,724

Disposals

(8,014)

At 31 January 2024

410,062

Depreciation

At 1 February 2023

158,208

Charge for the year

78,890

Eliminated on disposal

(1,602)

At 31 January 2024

235,496

Carrying amount

At 31 January 2024

174,566

At 31 January 2023

156,144

Included within the net book value of land and buildings above is £7,197 (2023 - £8,565) in respect of long leasehold land and buildings.
 

6

Investments

2024
£

2023
£

Other investments

12,210

-

7

Debtors

Current

2024
£

2023
£

Trade debtors

156,164

155,197

Prepayments

100,350

15,934

Other debtors

536,017

72,671

 

792,531

243,802

 

G3 Events Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

43,396

146,884

Taxation and social security

397,811

145,671

Accruals and deferred income

3,318

115,389

Other creditors

3,247

9,214

447,772

417,158

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

Ordinary A of £1 each

100

100

100

100

 

200

200

200

200

10

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Later than one year and not later than five years

38,550

-

The amount of non-cancellable operating lease payments recognised as an expense during the year was £7,953 (2023 - £Nil).

 

G3 Events Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

11

Related party transactions

Transactions with directors

2024

At 1 February 2023
£

Advances to director
£

Repayments by director
£

At 31 January 2024
£

Mrs Jayne Greenwell

Directors loan account

22,319

191,330

(13,270)

200,379

         
       

Mr Andrew Greenwell

Directors loan account

22,319

191,330

(13,270)

200,379

         
       

 

2023

At 1 February 2022
£

Advances to director
£

Repayments by director
£

At 31 January 2023
£

Mrs Jayne Greenwell

Directors loan account

231

47,485

(25,397)

22,319

         
       

Mr Andrew Greenwell

Directors loan account

231

47,485

(25,397)

22,319

         
       

 

Interest has been charged on the overdrawn Directors' loan accounts of 2.25%