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Registered Number: 04065486
England and Wales

 

 

 

3GRCOMM LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 March 2023

End date: 29 February 2024
Directors Carmen Julie Rogers
Guy Rogers
Registered Number 04065486
Registered Office Kalamu House
11 Coldbath Square
London
EC1R 5HL
Accountants Lane Cavendish Ltd
Chartered Certified Accountants
21 Arnold Gardens,
Palmers Green,
London
N13 5JE
Bankers Barclays Bank Plc
P O Box 35721
Level 27, One Churchill Place,
London
E14 5HP

1
Report to the directors on the preparation of the unaudited statutory accounts of 3GRComm Limited for the 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 accounts of 3GRComm Limited for the year ended 29 February 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of 3GRComm Limited, as a body, in accordance with the terms of our engagement letter dated 12 November 2024 Our work has been undertaken solely to prepare for your approval the accounts of 3GRComm Limited and state those matters that we have agreed to state to the Board of Directors of 3GRComm Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than 3GRComm Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that 3GRComm Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of 3GRComm Limited. You consider that 3GRComm 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 accounts of 3GRComm 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 accounts



....................................................

Lane Cavendish Ltd

Chartered Certified Accountants
21 Arnold Gardens,
Palmers Green,
London
N13 5JE
13 February 2025
2
 
 
Notes
 
2024
£
  2023
£
Turnover 1,102,210    984,879 
Cost of sales (42,414)   (55,529)
Gross profit 1,059,796    929,350 
Administrative expenses (643,490)   (636,152)
Operating profit 416,306    293,198 
Other interest receivable and similar income 70   
Interest payable and similar charges (28,396)   (20,031)
Profit/(Loss) on ordinary activities before taxation 387,980    273,167 
Tax on profit on ordinary activities (174,112)   (59,797)
Profit/(Loss) for the financial year 213,868    213,370 
 
3
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 2,089,012    2,183,192 
2,089,012    2,183,192 
Current assets      
Debtors 4 70,480    267,870 
Cash at bank and in hand 411,756    9,155 
482,236    277,025 
Creditors: amount falling due within one year 5 (348,531)   (274,096)
Net current assets 133,705    2,929 
 
Total assets less current liabilities 2,222,717    2,186,121 
Creditors: amount falling due after more than one year 6 (264,572)   (322,565)
Provisions for liabilities 7 (309,393)   (244,672)
Net assets 1,648,752    1,618,884 
 

Capital and reserves
     
Called up share capital 8 10,000    10,000 
Profit and loss account 1,638,752    1,608,884 
Shareholders' funds 1,648,752    1,618,884 
 


For the year ended 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:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 13 February 2025 and were signed on its behalf by:


-------------------------------
Guy Rogers
Director
4
General Information
3GRComm Limited is a private company, limited by shares, registered in England and Wales, registration number 04065486, registration address Kalamu House, 11 Coldbath Square , London, EC1R 5HL.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings - Leasehold 75 years Straight Line
Plant and machinery 5% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 20% Reducing Balance
Computer Equipment 20% Reducing Balance
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 8 (2023 : 8).
3.

Tangible fixed assets

Cost or valuation Land and buildings - Leasehold   Plant and machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £   £
At 01 March 2023 781,885    2,116,808    230,021    57,905    89,264    3,275,883 
Additions         8,402    8,402 
Disposals          
At 29 February 2024 781,885    2,116,808    230,021    57,905    97,666    3,284,285 
Depreciation
At 01 March 2023 72,975    746,037    157,506    45,955    70,219    1,092,692 
Charge for year 10,426    68,538    18,128      5,489    102,581 
On disposals          
At 29 February 2024 83,401    814,575    175,634    45,955    75,708    1,195,273 
Net book values
Closing balance as at 29 February 2024 698,484    1,302,233    54,387    11,950    21,958    2,089,012 
Opening balance as at 01 March 2023 708,910    1,370,771    72,515    11,950    19,046    2,183,192 


4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 65,980    267,870 
Other Debtors 4,500   
70,480    267,870 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 65,924    68,214 
Taxation and Social Security 195,654    121,020 
Other Creditors 86,953    84,862 
348,531    274,096 

6.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Other Creditors 264,572    322,565 
264,572    322,565 
Bank Loans and overdrafts
The long term loans are secured by way of legal charge over the leasehold property and a personal guarantee from directors limited to £406,000.
The long term mortgage loan is secured by mortgage over assets within the company.

7.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 309,393    244,672 
309,393    244,672 

8.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
10,000 Ordinary shares of £1.00 each 10,000    10,000 
10,000    10,000 

5