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Company Registration No. SC579881 (Scotland)
G8 Energy Solutions Ltd Unaudited accounts for the year ended 31 October 2024
G8 Energy Solutions Ltd Unaudited accounts Contents
Page
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G8 Energy Solutions Ltd Company Information for the year ended 31 October 2024
Director
Andrew McNab
Company Number
SC579881 (Scotland)
Registered Office
59 ANDREW PATON WAY HAMILTON GLASGOW ML3 0GA SCOTLAND
Accountants
WBG Accounting Services 56 Ashgillhead Road Larkhall Larkhall ML9 3AE
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G8 Energy Solutions Ltd Statement of financial position as at 31 October 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
365,998 
365,998 
Tangible assets
54,949 
22,368 
Investments
2 
2 
420,949 
388,368 
Current assets
Inventories
10,000 
- 
Debtors
5,985 
- 
Cash at bank and in hand
112,558 
152,588 
128,543 
152,588 
Creditors: amounts falling due within one year
(182,612)
(246,679)
Net current liabilities
(54,069)
(94,091)
Total assets less current liabilities
366,880 
294,277 
Provisions for liabilities
Deferred tax
- 
(1,630)
Net assets
366,880 
292,647 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
366,780 
292,547 
Shareholders' funds
366,880 
292,647 
For the year ending 31 October 2024 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.
The financial statements were approved by the Board and authorised for issue on 21 November 2024 and were signed on its behalf by
Andrew McNab Director Company Registration No. SC579881
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G8 Energy Solutions Ltd Notes to the Accounts for the year ended 31 October 2024
1
Statutory information
G8 Energy Solutions Ltd is a private company, limited by shares, registered in Scotland, registration number SC579881. The registered office is 59 ANDREW PATON WAY, HAMILTON, GLASGOW, ML3 0GA, SCOTLAND.
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
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% Reducing Balance
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 November 2023
365,998 
At 31 October 2024
365,998 
Amortisation
At 1 November 2023
- 
At 31 October 2024
- 
Net book value
At 31 October 2024
365,998 
At 31 October 2023
365,998 
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G8 Energy Solutions Ltd Notes to the Accounts for the year ended 31 October 2024
5
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 November 2023
61,983 
- 
61,983 
Additions
49,702 
1,120 
50,822 
At 31 October 2024
111,685 
1,120 
112,805 
Depreciation
At 1 November 2023
39,615 
- 
39,615 
Charge for the year
18,017 
224 
18,241 
At 31 October 2024
57,632 
224 
57,856 
Net book value
At 31 October 2024
54,053 
896 
54,949 
At 31 October 2023
22,368 
- 
22,368 
6
Investments
Subsidiary undertakings 
£ 
Valuation at 1 November 2023
2 
Valuation at 31 October 2024
2 
7
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Deferred tax asset
5,985 
8
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
114,047 
226,433 
VAT
32,056 
- 
Obligations under finance leases and hire purchase contracts
30,426 
- 
Amounts owed to group undertakings and other participating interests
247,000 
125,000 
Taxes and social security
22,240 
37,330 
Loans from directors
(298,157)
(230,084)
Accruals
35,000 
88,000 
182,612 
246,679 
9
Average number of employees
During the year the average number of employees was 8 (2023: 8).
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