Abbreviated Company Accounts - G2 ENERGY NETWORKS LIMITED

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover policy
Turnover comprises revenue recognised by the company in respect of goods and services supplied during the period, exclusive of Value Added Tax and trade discounts.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer equipment - 33% straight line

Other accounting policies
Investments
Investments held as fixed assets are shown at cost less provision for impairment

Deferred taxation
Full provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation.
A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse.
Deferred tax assets and liabilities are not discounted.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3Fixed assets Investments
Investments in subsidiary companies

Cost or valuation
At 11 June 2015 £-
Additions £2
At 30 November 2016 £2

Net book value
At 30 November 2016 £2

Subsidiary undertakings

The following were subsidiary undertakings of the company:

Name - Class of shares -Holding
G2 Energy Private Networks Limited - Ordinary - 100%
G2 Energy IDNO Limited -Ordinary - 100%

The aggregate of the share capital and reserves as at 30 November 2016 and of the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:

Name - Aggregate of share capital and reserves - Profit/(loss)
G2 Energy Private Networks Limited - £1 - £0
G2 Energy IDNO Limited - £1 - £0

During the period 100 Ordinary shares were issued at par with a total consideration of £100.