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Registered number: 07085607
3GI Technology Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
GKA Accountants Ltd
92 Friern Gardens
Wickford
Essex
SS12 0HD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07085607
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 93,158 9,180
93,158 9,180
CURRENT ASSETS
Stocks 151,071 246,982
Debtors 5 808,250 637,118
Cash at bank and in hand 654,929 536,652
1,614,250 1,420,752
Creditors: Amounts Falling Due Within One Year 6 (1,340,139 ) (1,107,888 )
NET CURRENT ASSETS (LIABILITIES) 274,111 312,864
TOTAL ASSETS LESS CURRENT LIABILITIES 367,269 322,044
Creditors: Amounts Falling Due After More Than One Year 7 (12,500 ) (22,500 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 8 (21,489 ) -
NET ASSETS 333,280 299,544
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 333,180 299,444
SHAREHOLDERS' FUNDS 333,280 299,544
Page 1
Page 2
For the year ending 30 April 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Terry Lewis
Director
Mrs Hayley Lewis
Director
20 November 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
3GI Technology Limited Registered number 07085607 is a limited by shares company incorporated in England & Wales. The Registered Office is Whitegates Business Centre, Alexander Lane, Shenfield, Essex, CM15 8QF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% on cost
Motor Vehicles 25% reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account. The notes which are not included have been hidden but original note numbering has remained the same for those that are present.
Page 3
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3. Average Number of Employees
Average number of employees, including directors, during the year was as follows:
2024 2023
Office and administration 13 13
Sales, marketing and distribution 27 32
40 45
4. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 May 2023 22,717
Additions 116,813
As at 30 April 2024 139,530
Depreciation
As at 1 May 2023 13,537
Provided during the period 32,835
As at 30 April 2024 46,372
Net Book Value
As at 30 April 2024 93,158
As at 1 May 2023 9,180
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 642,074 514,264
Other debtors 138,862 116,692
780,936 630,956
Due after more than one year
Other debtors 27,314 6,162
808,250 637,118
Page 4
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 600,728 518,367
Bank loans and overdrafts 10,000 10,000
Other creditors 433,799 365,370
Taxation and social security 295,612 214,151
1,340,139 1,107,888
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 12,500 22,500
8. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 21,489 -
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5