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
G8 Energy Solutions Ltd
Company Information
for the year ended 31 October 2024
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
G8 Energy Solutions Ltd
Statement of financial position
as at 31 October 2024
Intangible assets
365,998
365,998
Tangible assets
54,949
22,368
Cash at bank and in hand
112,558
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
Net assets
366,880
292,647
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
G8 Energy Solutions Ltd
Notes to the Accounts
for the year ended 31 October 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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 (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill
At 1 November 2023
365,998
At 31 October 2024
365,998
At 31 October 2024
365,998
At 31 October 2023
365,998
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
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
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
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
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)
9
Average number of employees
During the year the average number of employees was 8 (2023: 8).