REGISTERED NUMBER: 12227967 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 DECEMBER 2024

FOR

G-SEVENTEEN (UK) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

C Buttaci

Ms G L Giovando

REGISTERED OFFICE:

2nd Floor, Unit 6 Park Court

Pyrford Road

West Byfleet

United Kingdom

KT14 6SD

REGISTERED NUMBER:

12227967 (England and Wales)

ACCOUNTANTS:

Waterfords Europe Limited t/a Jon Avol Waterfords

204 Field End Road

Eastcote

Middlesex

HA5 1RD

FIXED ASSETS

Intangible assets

4

19,338

23,338

Tangible assets

5

334,681

358,199

354,019

381,537

CURRENT ASSETS

Stocks

32,885

29,785

Debtors

6

35,282

34,690

Cash at bank and in hand

118,591

98,049

186,758

162,524

CREDITORS

Amounts falling due within one year

7

(176,326

)

(104,615

)

NET CURRENT ASSETS

10,432

57,909

TOTAL ASSETS LESS CURRENT LIABILITIES

364,451

439,446

CREDITORS

Amounts falling due after more than one year

8

(1,730,063

)

(1,730,063

)

NET LIABILITIES

(1,365,612

)

(1,290,617

)

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

(1,366,612

)

(1,291,617

)

(1,365,612

)

(1,290,617

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by:

Ms G L Giovando - Director

1.	STATUTORY INFORMATION

G-Seventeen (Uk) Limited is a private company, limited by shares , registered in England and Wales. 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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Going concern

The director has prepared the accounts on a going concern basis which assumes the continued support of of the Company's shareholders.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 13 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 31 December 2023

and 30 December 2024

40,000

AMORTISATION

At 31 December 2023

16,662

Charge for year

4,000

At 30 December 2024

20,662

NET BOOK VALUE

At 30 December 2024

19,338

At 30 December 2023

23,338

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 31 December 2023

and 30 December 2024

450,000

162,516

612,516

DEPRECIATION

At 31 December 2023

93,750

160,567

254,317

Charge for year

22,500

1,018

23,518

At 30 December 2024

116,250

161,585

277,835

NET BOOK VALUE

At 30 December 2024

333,750

931

334,681

At 30 December 2023

356,250

1,949

358,199

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.12.24

30.12.23

£

£

Trade debtors

5,638

5,638

Other debtors

29,644

29,052

35,282

34,690

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.12.24

30.12.23

£

£

Trade creditors

29,087

21,024

Taxation and social security

33,786

25,962

Other creditors

113,453

57,629

176,326

104,615

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.12.24

30.12.23

£

£

Other creditors

1,730,063

1,730,063

30.12.24

30.12.23

£

£

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Shareholders loan

1,730,063

1,730,063