1 March 2023 false Taxfiler 2024.6 6122666business:PrivateLimitedCompanyLtd2023-03-012024-02-29 61226662023-02-28 61226662023-03-012024-02-29 6122666business:AuditExempt-NoAccountantsReport2023-03-012024-02-29 6122666business:FilletedAccounts2023-03-012024-02-29 61226662024-02-29 6122666business:Director12023-03-012024-02-29 6122666business:RegisteredOffice2023-03-012024-02-29 61226662023-02-28 6122666core:WithinOneYear2024-02-29 6122666core:WithinOneYear2023-02-28 6122666core:AfterOneYear2024-02-29 6122666core:AfterOneYear2023-02-28 6122666core:ShareCapitalcore:PreviouslyStatedAmount2024-02-29 6122666core:ShareCapitalcore:PreviouslyStatedAmount2023-02-28 6122666core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-02-29 6122666core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-02-28 6122666core:PreviouslyStatedAmount2024-02-29 6122666core:PreviouslyStatedAmount2023-02-28 6122666business:SmallEntities2023-03-012024-02-29 6122666countries:EnglandWales2023-03-012024-02-29 6122666core:LandBuildings2023-03-012024-02-29 6122666core:LandBuildings2023-02-28 6122666core:LandBuildings2024-02-29 6122666core:AfterOneYear2023-03-012024-02-29 6122666business:OrdinaryShareClass12023-03-012024-02-29 6122666business:OrdinaryShareClass12022-03-012023-02-28 61226662022-03-012023-02-28 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 6122666 (England and Wales)
G1 / G2 Limited Unaudited accounts for the year ended 29 February 2024
G1 / G2 Limited Unaudited accounts Contents
Page
- 2 -
G1 / G2 Limited Company Information for the year ended 29 February 2024
Director
Grant Anthony Horton
Company Number
6122666 (England and Wales)
Registered Office
16 Bardolph Road Richmond Upon Thames Surrey TW9 2LH United Kingdom
- 3 -
G1 / G2 Limited Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
450,000 
450,000 
Current assets
Debtors
1,317 
1,145 
Creditors: amounts falling due within one year
(166,842)
(158,690)
Net current liabilities
(165,525)
(157,545)
Total assets less current liabilities
284,475 
292,455 
Creditors: amounts falling due after more than one year
(62,483)
(71,466)
Provisions for liabilities
Deferred tax
(39,406)
(39,406)
Net assets
182,586 
181,583 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
182,584 
181,581 
Shareholders' funds
182,586 
181,583 
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 and authorised for issue on 20 November 2024 and were signed on its behalf by
Grant Anthony Horton Director Company Registration No. 6122666
- 4 -
G1 / G2 Limited Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
G1 / G2 Limited is a private company, limited by shares, registered in England and Wales, registration number 6122666. The registered office is 16 Bardolph Road, Richmond Upon Thames, Surrey, TW9 2LH, United Kingdom.
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.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
nil
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
- 5 -
G1 / G2 Limited Notes to the Accounts for the year ended 29 February 2024
4
Tangible fixed assets
Land & buildings 
£ 
Cost or valuation
At cost 
At 1 March 2023
450,000 
At 29 February 2024
450,000 
Depreciation
At 29 February 2024
- 
Net book value
At 29 February 2024
450,000 
At 28 February 2023
450,000 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
800 
800 
Accrued income and prepayments
517 
345 
1,317 
1,145 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
11,932 
11,400 
Trade creditors
133 
196 
Taxes and social security
470 
433 
Other creditors
3,502 
5,073 
Loans from directors
149,855 
140,688 
Accruals
950 
900 
166,842 
158,690 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
62,483 
71,466 
The bank loan is secured by a floating charge over the asset of the company.
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
9
Transactions with related parties
Included in other creditors is the amount of £148,835 (2023: £140,688) owed to Mr G A Horton, a sole director and 100% shareholder of the company.
- 6 -
G1 / G2 Limited Notes to the Accounts for the year ended 29 February 2024
10
Average number of employees
During the year the average number of employees was 0 (2023: 0).
- 7 -