Acorah Software Products - Accounts Production 14.5.601 false true 31 May 2022 1 June 2021 false 1 June 2022 31 May 2023 31 May 2023 SC662322 Luis Guarin Gemma Sparks iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC662322 2022-05-31 SC662322 2023-05-31 SC662322 2022-06-01 2023-05-31 SC662322 frs-core:CurrentFinancialInstruments 2023-05-31 SC662322 frs-core:Non-currentFinancialInstruments 2023-05-31 SC662322 frs-core:FurnitureFittings 2023-05-31 SC662322 frs-core:FurnitureFittings 2022-06-01 2023-05-31 SC662322 frs-core:FurnitureFittings 2022-05-31 SC662322 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-05-31 SC662322 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 SC662322 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-05-31 SC662322 frs-core:RevaluationReserve 2023-05-31 SC662322 frs-core:ShareCapital 2023-05-31 SC662322 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31 SC662322 frs-bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 SC662322 frs-bus:FilletedAccounts 2022-06-01 2023-05-31 SC662322 frs-bus:SmallEntities 2022-06-01 2023-05-31 SC662322 frs-bus:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 SC662322 frs-bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 SC662322 frs-bus:Director1 2022-06-01 2023-05-31 SC662322 frs-bus:Director2 2022-06-01 2023-05-31 SC662322 frs-countries:Scotland 2022-06-01 2023-05-31 SC662322 2021-05-31 SC662322 2022-05-31 SC662322 2021-06-01 2022-05-31 SC662322 frs-core:CurrentFinancialInstruments 2022-05-31 SC662322 frs-core:Non-currentFinancialInstruments 2022-05-31 SC662322 frs-core:RevaluationReserve 2022-05-31 SC662322 frs-core:ShareCapital 2022-05-31 SC662322 frs-core:RetainedEarningsAccumulatedLosses 2022-05-31
Registered number: SC662322
G2 DEVELOPMENTS LTD
Unaudited Financial Statements
For The Year Ended 31 May 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: SC662322
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 859,884 672,000
859,884 672,000
CURRENT ASSETS
Stocks 5 179,807 -
Cash at bank and in hand 13,206 75,427
193,013 75,427
Creditors: Amounts Falling Due Within One Year 6 (437,727 ) (367,511 )
NET CURRENT ASSETS (LIABILITIES) (244,714 ) (292,084 )
TOTAL ASSETS LESS CURRENT LIABILITIES 615,170 379,916
Creditors: Amounts Falling Due After More Than One Year 7 (645,067 ) (333,357 )
NET (LIABILITIES)/ASSETS (29,897 ) 46,559
CAPITAL AND RESERVES
Called up share capital 8 2 2
Revaluation reserve 165,420 165,420
Profit and Loss Account (195,319 ) (118,863 )
SHAREHOLDERS' FUNDS (29,897) 46,559
Page 1
Page 2
For the year ending 31 May 2023 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Luis Guarin
Director
10 April 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
G2 DEVELOPMENTS LTD is a private company, limited by shares, incorporated in Scotland, registered number SC662322 . The registered office is 120 West Regent Street, Glasgow, G2 2QD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. 
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 20%
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: 2)
- 2
4. Tangible Assets
Land & Property
Freehold Fixtures & Fittings Total
£ £ £
Cost
As at 1 June 2022 672,000 - 672,000
Additions 187,480 418 187,898
As at 31 May 2023 859,480 418 859,898
Depreciation
As at 1 June 2022 - - -
Provided during the period - 14 14
As at 31 May 2023 - 14 14
Net Book Value
As at 31 May 2023 859,480 404 859,884
As at 1 June 2022 672,000 - 672,000
Tangible assets held at valuation
The directors have revalued the Freehold Property as at 31 May 2022.
Page 3
Page 4
5. Stocks
2023 2022
£ £
Stock 179,807 -
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Bank loans and overdrafts 9,500 4,513
Other creditors 428,227 362,998
437,727 367,511
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 645,067 333,357
645,067 333,357
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
Page 4