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Registered number: 7897884
G2 VENTURES LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
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G2 VENTURES LIMITED
REGISTERED NUMBER:7897884
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BALANCE SHEET
AS AT 31 DECEMBER 2022
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
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G2 VENTURES LIMITED
REGISTERED NUMBER:7897884
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BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2022
The notes on pages 3 to 5 form part of these financial statements.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
1.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Investments in subsidiaries are measured at cost less accumulated impairment.
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The average monthly number of employees, including directors, during the year was 1 (2021 - 1).
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Investments in associates
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
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The following were associates of the Company:
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Kuvera international Ltd, Geneva.
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Quai du Rhone 8, 1205, Genève, Suisse.
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Quai du Rhone 8, 1205, Genève, Suisse.
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The investment in Kinetic Ventures SA arose by way of demerger with no cash or other consideration receivable or payable.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
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Creditors: Amounts falling due within one year
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Accruals and deferred income
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Allotted, called up and fully paid
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40,000 (2021 - 40,000) Ordinary shares of £1.00 each
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1 (2021 - 1) B Ordinary share of £1.00
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Related party transactions
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At 31 December 2022, the Company owed£61,242 (2021: £16,818) to DGS Livingston.
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