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COMPANY REGISTRATION NUMBER: 12872257
GTG ENERGY LIMITED
UNAUDITED FINANCIAL STATEMENTS
29 February 2024
GTG ENERGY LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 29 FEBRUARY 2024
CONTENTS
PAGE
Officers and professional advisers
1
Directors' report
2
Statement of income and retained earnings
3
Statement of financial position
4
Notes to the financial statements
6
The following pages do not form part of the financial statements
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements
9
GTG ENERGY LIMITED
OFFICERS AND PROFESSIONAL ADVISERS
The board of directors
Mr G M Brown
Mr R Rosano
Mr C J Skelton
Registered office
71 Shetcliffe Lane
Bradford
West Yorkshire
England
BD4 6QJ
Accountants
Streets Spenser Wilson (Yorkshire) Limited
Chartered accountants
Equitable House
55 Pellon Lane
Halifax
West Yorkshire
HX1 5SP
Bankers
HSBC
PO Box 45
47 Market Street
Bradford
West Yorkshire
BD1 1LW
GTG ENERGY LIMITED
DIRECTORS' REPORT
YEAR ENDED 29 FEBRUARY 2024
The directors present their report and the unaudited financial statements of the company for the year ended 29 February 2024 .
DIRECTORS
The directors who served the company during the year were as follows:
Mr G M Brown
Mr R Rosano
Mr C J Skelton
SMALL COMPANY PROVISIONS
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 30 October 2024 and signed on behalf of the board by:
Mr G M Brown
Director
Registered office:
71 Shetcliffe Lane
Bradford
West Yorkshire
England
BD4 6QJ
GTG ENERGY LIMITED
STATEMENT OF INCOME AND RETAINED EARNINGS
YEAR ENDED 29 FEBRUARY 2024
2024
2023
Note
£
£
Cost of sales
918
-----
-----
GROSS LOSS
( 918)
Administrative expenses
1,112
877
--------
--------
OPERATING LOSS
( 1,112)
( 1,795)
--------
--------
LOSS BEFORE TAXATION
( 1,112)
( 1,795)
Tax on loss
--------
--------
LOSS FOR THE FINANCIAL YEAR AND TOTAL COMPREHENSIVE INCOME
( 1,112)
( 1,795)
--------
--------
RETAINED LOSSES AT THE START OF THE YEAR
( 3,742)
( 1,947)
--------
--------
RETAINED LOSSES AT THE END OF THE YEAR
( 4,854)
( 3,742)
--------
--------
All the activities of the company are from continuing operations.
GTG ENERGY LIMITED
STATEMENT OF FINANCIAL POSITION
29 February 2024
2024
2023
Note
£
£
£
£
CURRENT ASSETS
Debtors
4
6,539
Cash at bank and in hand
5,183
11,958
---------
---------
11,722
11,958
CREDITORS: amounts falling due within one year
5
16,476
15,600
---------
---------
NET CURRENT LIABILITIES
4,754
3,642
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
( 4,754)
( 3,642)
--------
--------
NET LIABILITIES
( 4,754)
( 3,642)
--------
--------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
( 4,854)
( 3,742)
--------
--------
SHAREHOLDERS DEFICIT
( 4,754)
( 3,642)
--------
--------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 29 February 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
GTG ENERGY LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
29 February 2024
These financial statements were approved by the board of directors and authorised for issue on 30 October 2024 , and are signed on behalf of the board by:
Mr G M Brown
Director
Company registration number: 12872257
GTG ENERGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 29 FEBRUARY 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 71 Shetcliffe Lane, Bradford, West Yorkshire, BD4 6QJ, England.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared on a going concern basis not withstanding there was a deficiency of net assets at the year end. The directors have agreed to postpone the repayment of their loan accounts until sufficient funds are available.
Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
4. DEBTORS
2024
2023
£
£
Other debtors
6,539
--------
-----
5. CREDITORS: amounts falling due within one year
2024
2023
£
£
Trade creditors
876
Other creditors
15,600
15,600
---------
---------
16,476
15,600
---------
---------
6. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
During the year the directors loan accounts were in credit. The loans were in relation to all of the directors and are repayable on demand, unsecured and interest free. The balance at 29 February 2024 was £15,000 (2023 - £15,000)
GTG ENERGY LIMITED
MANAGEMENT INFORMATION
YEAR ENDED 29 FEBRUARY 2024
The following pages do not form part of the financial statements.
GTG ENERGY LIMITED
CHARTERED ACCOUNTANT'S REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF GTG ENERGY LIMITED
YEAR ENDED 29 FEBRUARY 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of GTG Energy Limited for the year ended 29 February 2024, which comprise the statement of income and retained earnings, statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of GTG Energy Limited, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of GTG Energy Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than GTG Energy Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that GTG Energy Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of GTG Energy Limited. You consider that GTG Energy Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of GTG Energy Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Streets Spenser Wilson (Yorkshire) Limited Chartered accountants
Equitable House 55 Pellon Lane Halifax West Yorkshire HX1 5SP
30 October 2024