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Financial Statements For The Year Ended 31 December 2018 |
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G2 & Associates Ltd. |
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REGISTERED NUMBER:
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Financial Statements For The Year Ended 31 December 2018 |
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for |
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G2 & Associates Ltd. |
G2 & Associates Ltd. (Registered number: SC230789) |
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Contents of the Financial Statements |
For The Year Ended 31 December 2018 |
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Page |
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Company Information | 1 |
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Abridged Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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G2 & Associates Ltd. |
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Company Information |
For The Year Ended 31 December 2018 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Regent Court |
70 West Regent Street |
Glasgow |
G2 2QZ |
G2 & Associates Ltd. (Registered number: SC230789) |
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Abridged Statement of Financial Position |
31 December 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his responsibilities for: |
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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. |
G2 & Associates Ltd. (Registered number: SC230789) |
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Abridged Statement of Financial Position - continued |
31 December 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
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The financial statements were approved by the director on
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G2 & Associates Ltd. (Registered number: SC230789) |
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Notes to the Financial Statements |
For The Year Ended 31 December 2018 |
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1. | STATUTORY INFORMATION |
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G2 & Associates Ltd. is a
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number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is stated net of value added tax. Turnover from the supply of services represents the value of services |
provided under contracts to the extent that there is a right to consideration and is recorded at the value of the |
consideration due. Where payments are received from customers in advance of services provided, the amounts |
are recorded as deferred income and included as part of creditors due within one year. |
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Research and development |
Development costs are capitalised and deferred to future periods in recognition of the costs incurred in the |
design, construction and testing of new products for which the aggregate of the costs is reasonably expected to be |
exceeded by future sales or other revenues. The costs are amortised over the period commencing with the |
commercial production of the product and allocated on a systematic basis to each accounting period by reference |
to the sale of the product. |
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Tangible fixed assets |
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Plant & machinery | - |
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Fixtures and fittings | - |
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Computer equipment | - |
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Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
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Financial instruments |
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible |
preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in the |
Statement of Comprehensive Income. Derivative financial instruments are initially recorded at cost and thereafter |
at fair value with changes recognised in the Statement of Comprehensive Income. |
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G2 & Associates Ltd. (Registered number: SC230789) |
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Notes to the Financial Statements - continued |
For The Year Ended 31 December 2018 |
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2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive |
Income except to the extent that it relates to items recognised in other comprehensive income or directly in |
equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 statement of financial position date. |
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Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
statement of financial position date. |
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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. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 January 2018 |
and 31 December 2018 |
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AMORTISATION |
At 1 January 2018 |
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Amortisation for year |
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At 31 December 2018 |
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NET BOOK VALUE |
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At 31 December 2018 |
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At 31 December 2017 |
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G2 & Associates Ltd. (Registered number: SC230789) |
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Notes to the Financial Statements - continued |
For The Year Ended 31 December 2018 |
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5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 January 2018 |
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Additions |
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At 31 December 2018 |
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DEPRECIATION |
At 1 January 2018 |
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Charge for year |
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At 31 December 2018 |
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NET BOOK VALUE |
At 31 December 2018 |
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At 31 December 2017 |
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