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
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
G1 / G2 Limited
Statement of financial position
as at 29 February 2024
Tangible assets
450,000
450,000
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
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
G1 / G2 Limited
Notes to the Accounts
for the year ended 29 February 2024
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.
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.
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.
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:
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 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.
G1 / G2 Limited
Notes to the Accounts
for the year ended 29 February 2024
4
Tangible fixed assets
Land & buildings
At 29 February 2024
450,000
At 29 February 2024
450,000
At 28 February 2023
450,000
Amounts falling due within one year
Accrued income and prepayments
517
345
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
11,932
11,400
Taxes and social security
470
433
Other creditors
3,502
5,073
Loans from directors
149,855
140,688
7
Creditors: amounts falling due after more than one year
2024
2023
The bank loan is secured by a floating charge over the asset of the company.
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 ÃÂã148,835 (2023: ÃÂã140,688) owed to Mr G A Horton, a sole director and 100% shareholder of the company.
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).