REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 29 February 2024 |
for |
G3G (UK) Limited |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 29 February 2024 |
for |
G3G (UK) Limited |
G3G (UK) Limited (Registered number: 03839740) |
Contents of the Financial Statements |
for the Year Ended 29 February 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
G3G (UK) Limited |
Company Information |
for the Year Ended 29 February 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants and Chartered Tax Advisers |
2 Castle Business Village |
Station Road |
Hampton |
Middlesex |
TW12 2BX |
G3G (UK) Limited (Registered number: 03839740) |
Balance Sheet |
29 February 2024 |
29.2.24 | 28.2.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings | 8 |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
G3G (UK) Limited (Registered number: 03839740) |
Notes to the Financial Statements |
for the Year Ended 29 February 2024 |
1. | STATUTORY INFORMATION |
G3G (UK) Limited is a private company limited by shares, registered in England. The company's registered number and registered office address can be found on the Company Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Plant and machinery etc | - |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
G3G (UK) Limited (Registered number: 03839740) |
Notes to the Financial Statements - continued |
for the Year Ended 29 February 2024 |
2. | ACCOUNTING POLICIES - continued |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Going concern |
At the time of approving the financial statements, the directors have undertaken an assessment of the adequacy of the resources available to the company as well as the expected support available from the Parent company. |
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and accordingly continue to adopt the going concern basis of accounting in preparing the financial statements. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 March 2023 |
Additions |
At 29 February 2024 |
DEPRECIATION |
At 1 March 2023 |
Charge for year |
At 29 February 2024 |
NET BOOK VALUE |
At 29 February 2024 |
At 28 February 2023 |
G3G (UK) Limited (Registered number: 03839740) |
Notes to the Financial Statements - continued |
for the Year Ended 29 February 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.2.24 | 28.2.23 |
£ | £ |
Trade debtors |
Other debtors |
Included in trade debtors are balances due from related parties as follows: |
EPI-USE America Inc £285 |
EPI-USE Canada Inc £1,111 |
EPI-USE Labs Denmark £43,140 |
EPI-USE Labs Limited £659,768 |
G3G (Pty) Ltd £4,111 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.2.24 | 28.2.23 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
Included in trade creditors are balances owed to related parties as follow |
EPI-USE Australia £2,428 |
EPI-USE Labs Limited £2,288 |
G3G (Pty) Ltd £35,024 |
Group Elephant Limited £11,214 |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 29.2.24 | 28.2.23 |
value: | £ | £ |
Ordinary | 0.01 | 110 | 110 |
G3G (UK) Limited (Registered number: 03839740) |
Notes to the Financial Statements - continued |
for the Year Ended 29 February 2024 |
8. | RESERVES |
Retained |
earnings |
£ |
At 1 March 2023 |
Deficit for the year | ( |
) |
At 29 February 2024 |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
10. | RELATED PARTY DISCLOSURES |
Related Party | Sales | Purchases | Debtor | Creditor |
EPI-USE Labs Limited | £2,837,203 | £70,370 | £659,768 | £2,288 |
EPI-USE Labs Denmark | £50,088 | - | £43,140 | - |
EPI-USE America Inc | £15,530 | - | £285 | - |
EPI-USE Australia Pty Ltd | - | £24,263 | - | £2,428 |
EPI-USE Canada Inc | £11,386 | - | £1,111 | - |
EPI-USE Limited | £15,118 | £16,312 | - | £1,950 |
Group Elephant - EPI-USE Systems Limited |
£2,507 |
£11,214 |
- |
£11,214 |
G3G (Pty) Ltd | £50,602 | £465,729 | £4,111 | £35,024 |
K5 Business Mauritius Limited | £16,225 |
11. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |
There are a number of shareholders in EPI-USE Systems Limited, none of whom hold a controlling interest in the company. |