TWO GB LIMITED

TWO GB LIMITED

TWO GB LIMITED - Company Information

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1 October 2016 false No description of principal activity Taxfiler 2018.4.Web 06240730business:PrivateLimitedCompanyLtd2016-10-012017-09-30 062407302016-09-30 062407302016-10-012017-09-30 06240730business:AuditExempt-NoAccountantsReport2016-10-012017-09-30 06240730business:FullAccounts2016-10-012017-09-30 062407302017-09-30 06240730business:Director12016-10-012017-09-30 06240730business:RegisteredOffice2016-10-012017-09-30 062407302016-09-30 06240730core:WithinOneYear2017-09-30 06240730core:WithinOneYear2016-09-30 06240730core:ShareCapital2017-09-30 06240730core:ShareCapital2016-09-30 06240730core:CapitalRedemptionReserve2017-09-30 06240730core:CapitalRedemptionReserve2016-09-30 06240730core:RetainedEarningsAccumulatedLosses2017-09-30 06240730core:RetainedEarningsAccumulatedLosses2016-09-30 06240730business:SmallEntities2016-10-012017-09-30 06240730countries:EnglandWales2016-10-012017-09-30 06240730core:LandBuildings2016-10-012017-09-30 06240730core:LandBuildings2016-09-30 06240730core:LandBuildings2017-09-30 06240730business:OrdinaryShareClass12016-10-012017-09-30 06240730business:OrdinaryShareClass12015-10-012016-09-30 06240730business:OrdinaryShareClass22016-10-012017-09-30 06240730business:OrdinaryShareClass22015-10-012016-09-30 06240730business:AllOrdinaryShares2016-10-012017-09-30 06240730business:AllOrdinaryShares2015-10-012016-09-30 062407302015-10-012016-09-30 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 06240730 (England and Wales)
TWO GB LIMITED Unaudited accounts for the year ended 30 September 2017
TWO GB LIMITED Unaudited accounts Contents
Page
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TWO GB LIMITED Company Information for the year ended 30 September 2017
Director
David Andrew Pounds
Company Number
06240730 (England and Wales)
Registered Office
1 CLIFTON MEWS CLIFTON HILL BRIGHTON EAST SUSSEX BN1 3HR
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TWO GB LIMITED Statement of financial position as at 30 September 2017
2017 
2016 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
647,591 
655,128 
Investments
5
100 
100 
647,691 
655,228 
Current assets
Debtors
6
3,473 
11,450 
Cash at bank and in hand
1,836 
1,945 
5,309 
13,395 
Creditors: amounts falling due within one year
7
(551,228)
(569,559)
Net current liabilities
(545,919)
(556,164)
Net assets
101,772 
99,064 
Capital and reserves
Called up share capital
8
102 
102 
Capital redemption reserve
15,933 
15,933 
Profit and loss account
85,737 
83,029 
Shareholders' funds
101,772 
99,064 
For the year ending 30 September 2017 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 31 May 2018.
David Andrew Pounds Director Company Registration No. 06240730
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TWO GB LIMITED Notes to the Accounts for the year ended 30 September 2017
1
Statutory information
TWO GB LIMITED is a private company, limited by shares, registered in England and Wales, registration number 06240730. The registered office is 1 CLIFTON MEWS, CLIFTON HILL, BRIGHTON, EAST SUSSEX, BN1 3HR.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
These financial statements for the year ended 30 September 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 October 2015. The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been adjusted to take into account the building Sale in 2016 as was overcharged in 2016. Depreciation is provided on tangible fixed assets, except land, so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:
Land & buildings
Freehold property 2% straight line per annum
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TWO GB LIMITED Notes to the Accounts for the year ended 30 September 2017
4
Tangible fixed assets
Land & buildings 
£ 
Cost or valuation
At cost 
At 1 October 2016
828,963 
At 30 September 2017
828,963 
Depreciation
At 1 October 2016
173,835 
Charge for the year
7,537 
At 30 September 2017
181,372 
Net book value
At 30 September 2017
647,591 
At 30 September 2016
655,128 
5
Investments
Other investments 
£ 
Valuation at 1 October 2016
100 
Valuation at 30 September 2017
100 
6
Debtors
2017 
2016 
£ 
£ 
Trade debtors
3,473 
11,450 
7
Creditors: amounts falling due within one year
2017 
2016 
£ 
£ 
Bank loans and overdrafts
342,930 
324,922 
Trade creditors
7,787 
10,630 
Taxes and social security
1,200 
2,079 
Loans from directors
155,755 
231,928 
Accruals
43,556 
- 
551,228 
569,559 
8
Share capital
2017 
2016 
£ 
£ 
Allotted, called up and fully paid:
51 Ordinary shares - David Andrew Pounds of £1 each
51 
51 
51 Ordinary shares - Debra Helen Stokes of £1 each
51 
51 
102 
102 
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TWO GB LIMITED Notes to the Accounts for the year ended 30 September 2017
9
Transactions with related parties
During the year (2017) D A Pounds received no dividend's (2016: Zero). During the year D A Pounds provided a loan to the company and made payments on behalf of the company. This includes amounts paid by the directors on behalf of related undertakings which have been accounted for in the first instance as a creditor of Two GB Limited in accordance with the company policy. At the balance sheet date the amount due (to)/from D A Pounds was £24,377 , (2016 - £91,867). During the year (2017) D H Stokes received no dividend's (2016: Zero). At the balance sheet date the amount due (to)/from D H Stokes was £131,378 (2016 - £140,060).
10
Controlling party
The company is controlled by D A Pounds and D H Stokes both shareholders and officers of the company.
11
Average number of employees
During the year the average number of employees was 0 (2016: 0).
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