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Registered Number: 08361335
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 March 2024

for

G2M SOLUTIONS LIMITED

Directors Paul Newton
Katherine Sarah Newton
Registered Number 08361335
Registered Office South Lea
Mawles Lane
Chipping Norton
Oxfordshire
OX7 6DA
Accountants Strata Accountants Limited
Milton Park Innovation Centre
99 Park Drive
Abingdon
OX14 4RY
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 2,197    597 
2,197    597 
Current assets      
Debtors 4 18,450    4,055 
Cash at bank and in hand 64,794    168,660 
83,244    172,715 
Creditors: amount falling due within one year 5 (44,196)   (142,140)
Net current assets 39,048    30,575 
 
Total assets less current liabilities 41,245    31,172 
Provisions for liabilities 6 (418)   (114)
Net assets 40,827    31,058 
 

Capital and reserves
     
Called up share capital 7 100    100 
Profit and loss account 40,727    30,958 
Shareholders' funds 40,827    31,058 
 


For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 25 October 2024 and were signed on its behalf by:


-------------------------------
Paul Newton
Director
2
General Information
G2m Solutions Limited is a private company, limited by shares, registered in England and Wales, registration number 08361335, registration address South Lea, Mawles Lane, Chipping Norton, Oxfordshire, OX7 6DA.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 25% Straight Line
Computer Equipment 33 % Straight Line
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 1).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 April 2023 1,276    5,279    6,555 
Additions   2,383    2,383 
Disposals    
At 31 March 2024 1,276    7,662    8,938 
Depreciation
At 01 April 2023 1,276    4,682    5,958 
Charge for year   783    783 
On disposals    
At 31 March 2024 1,276    5,465    6,741 
Net book values
Closing balance as at 31 March 2024   2,197    2,197 
Opening balance as at 01 April 2023   597    597 


4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 16,440    1,620 
Prepayments & Accrued Income 2,010    2,435 
18,450    4,055 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Corporation Tax 17,855    7,882 
PAYE & Social Security 559    302 
Accrued Expenses 1,498    1,499 
Other Creditors 1,237    2,630 
Directors' Current Accounts 19,092    126,337 
VAT 3,955    3,490 
44,196    142,140 

6.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 418    114 
418    114 

7.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
51 Ordinary shares of £1.00 each 51    51 
49 Ordinary A shares of £1.00 each 49    49 
100    100 

3