REGISTERED NUMBER: SC230789 (Scotland)

Financial Statements For The Year Ended 31 December 2024

for

G2 & Associates Ltd.

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

G Chalmers

REGISTERED OFFICE:

C/O Robb Ferguson

3rd Floor

70 West Regent Street

Glasgow

G2 2QZ

REGISTERED NUMBER:

SC230789 (Scotland)

ACCOUNTANTS:

Robb Ferguson Chartered Accountants

Regent Court

70 West Regent Street

Glasgow

G2 2QZ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

1,134

1,744

1,134

1,744

CURRENT ASSETS

Debtors

56,804

69,612

Cash at bank

256,812

239,934

313,616

309,546

CREDITORS

Amounts falling due within one year

82,572

65,365

NET CURRENT ASSETS

231,044

244,181

TOTAL ASSETS LESS CURRENT LIABILITIES

232,178

245,925

CREDITORS

Amounts falling due after more than one year

65,854

-

NET ASSETS

166,324

245,925

CAPITAL AND RESERVES

Called up share capital

5,000

5,000

Capital redemption reserve

5,000

5,000

Retained earnings

156,324

235,925

SHAREHOLDERS' FUNDS

166,324

245,925

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Comprehensive Income and an abridged Statement of Financial Position for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 September 2025 and were signed by:

G Chalmers - Director

1.	STATUTORY INFORMATION

G2 & Associates Ltd. is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is stated net of value added tax. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Research and development

Development costs are capitalised and deferred to future periods in recognition of the costs incurred in the design, construction and testing of new products for which the aggregate of the costs is reasonably expected to be exceeded by future sales or other revenues. The costs are amortised over the period commencing with the commercial production of the product and allocated on a systematic basis to each accounting period by reference to the sale of the product.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant & machinery

-

25% on cost

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33.33% on cost

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in the Statement of Comprehensive Income. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in the Statement of Comprehensive Income.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2024

and 31 December 2024

121,175

AMORTISATION

At 1 January 2024

and 31 December 2024

121,175

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2024

and 31 December 2024

92,398

DEPRECIATION

At 1 January 2024

90,654

Charge for year

610

At 31 December 2024

91,264

NET BOOK VALUE

At 31 December 2024

1,134

At 31 December 2023

1,744