Company registration number 08028066 (England and Wales)
3GS (UK) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
3GS (UK) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
3GS (UK) LIMITED
BALANCE SHEET
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
44,765
15,940
Current assets
Debtors
5
466,021
248,620
Cash at bank and in hand
62
1,520
466,083
250,140
Creditors: amounts falling due within one year
6
(664,245)
(350,581)
Net current liabilities
(198,162)
(100,441)
Net liabilities
(153,397)
(84,501)
Capital and reserves
Called up share capital
7
110
110
Share premium account
249,986
249,986
Profit and loss reserves
(403,493)
(334,597)
Total equity
(153,397)
(84,501)
For the financial year ended 31 May 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 of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 31 March 2025 and are signed on its behalf by:
Mr E S Henney
Director
Company registration number 08028066 (England and Wales)
3GS (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 2 -
1
Accounting policies
Company information
3GS (UK) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit C, Parkway Business Centre, Deeside Industrial Park, Deeside, Flintshire, CH5 2LE.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
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.
1.3
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:
Fixtures and fittings
20% Reducing Balance
Office Equipment
20% Reducing Balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
3GS (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 3 -
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
52
4
Tangible fixed assets
Fixtures and fittings
Office Equipment
Total
£
£
£
Cost
At 1 June 2023
35,231
46,779
82,010
Additions
39,200
39,200
At 31 May 2024
35,231
85,979
121,210
Depreciation and impairment
At 1 June 2023
29,697
36,373
66,070
Depreciation charged in the year
1,107
9,268
10,375
At 31 May 2024
30,804
45,641
76,445
Carrying amount
At 31 May 2024
4,427
40,338
44,765
At 31 May 2023
5,534
10,406
15,940
3GS (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 4 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
64,497
63,819
Amounts due from related companies
367,393
165,409
Other debtors
34,131
19,392
466,021
248,620
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
29,237
Trade creditors
622,885
282,723
Taxation and social security
53,529
Other creditors
12,123
14,329
664,245
350,581
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
110 Ordinary Shares of £1 each
110
110
110
110
8
Related party transactions
At 31 May 2024 3GS (UK) Limited were owed £367,393 (2023: £165,409) by a related company. The loan was interest free and repayable on demand.
9
Parent company
The ultimate parent undertaking is NES Services Group Limited from 30 April 2023, a company registered in England and Wales.