ACCOUNTS - Final Accounts

Operating profit

The operating profit is stated after charging:

Registered number: 06510143

G INTERNATIONAL LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

G INTERNATIONAL LIMITED

COMPANY INFORMATION

Director	G. Spiro


Company secretary	A. Spiro


Registered number	06510143


Registered office	101 New Cavendish Street
	1st Floor South
	London
	W1W 6XH


Independent auditors	Harris & Trotter LLP
	Chartered Accountants & Registered Auditor
	101 New Cavendish Street
	1st Floor South
	London
	United Kingdom
	W1W 6XH


Bankers	HSBC PLC
	8 Canada Square
	Canary Wharf
	London
	E14 5HQ

G INTERNATIONAL LIMITED

CONTENTS

	Page
Group Strategic Report	1
Director's Report	2 - 3
Independent Auditors' Report	4 - 7
Consolidated Statement of Comprehensive Income	8
Consolidated Balance Sheet	9
Company Balance Sheet	10
Consolidated Statement of Changes in Equity	11
Company Statement of Changes in Equity	12
Notes to the Financial Statements	13 - 24

G INTERNATIONAL LIMITED

GROUP STRATEGIC REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

Introduction

The director presents his strategic report together with the audited financial statements of the company for the year ended 31 December 2024.

Business review

Turnover of £24,669,502 (2023: £20,417,178) was acheived in the year, thus maintaining a satisfactory level of activity.

Principal risks and uncertainties

The director considers the key risks and uncertainties facing the company are those arising from the difficulties within the UK, European and world economies.

This report was approved by the board on 17 December 2025 and signed on its behalf.

G. Spiro

Director

Page 1

G INTERNATIONAL LIMITED

DIRECTOR'S REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

The director presents his report and the financial statements for the year ended 31 December 2024.

Director's responsibilities statement

The director is responsible for preparing the Group Strategic Report, the Director's Report and the consolidated financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the Company and the Group and of the profit or loss of the Group for that period.

In preparing these financial statements, the director is required to:

∙select suitable accounting policies for the Group's financial statements and then apply them consistently;

∙make judgments and accounting estimates that are reasonable and prudent;

∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group and to enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Results and dividends

The profit for the year, after taxation, amounted to £4,654,134 (2023 - £4,984,693).

No further dividend for this year is proposed. Dividends paid are shown in the accounts.

Director

The director who served during the year was:

G. Spiro

Charitable contributions

The company made charitable donations totalling £45,544 (2023: £18,114).

Page 2

G INTERNATIONAL LIMITED

DIRECTOR'S REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

Disclosure of information to auditors

The director at the time when this Director's Report is approved has confirmed that:

∙so far as is aware, there is no relevant audit information of which the Company and the Group's auditors are unaware, and

∙ has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company and the Group's auditors are aware of that information.

This report was approved by the board on 17 December 2025 and signed on its behalf.

G. Spiro

Director

Page 3

G INTERNATIONAL LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF G INTERNATIONAL LIMITED

Opinion

We have audited the financial statements of G International Limited (the 'Parent Company') and its subsidiary (the 'Group') for the year ended 31 December 2024, which comprise the Consolidated Statement of Comprehensive Income, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

∙give a true and fair view of the state of the Group's and of the Parent Company's affairs as at 31 December 2024 and of the Group's profit for the year then ended;

∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

∙have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the Parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Page 4

G INTERNATIONAL LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF G INTERNATIONAL LIMITED (CONTINUED)

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The director is responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

∙the information given in the Group Strategic Report and the Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

∙the Group Strategic Report and the Director's Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Group and the Parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Director's Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

∙adequate accounting records have not been kept by the Parent Company, or returns adequate for our audit have not been received from branches not visited by us; or

∙the Parent Company financial statements are not in agreement with the accounting records and returns; or

∙certain disclosures of director's remuneration specified by law are not made; or

∙we have not received all the information and explanations we require for our audit.

Page 5

G INTERNATIONAL LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF G INTERNATIONAL LIMITED (CONTINUED)

Responsibilities of directors

As explained more fully in the Director's Responsibilities Statement set out on page 2, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the Group's and the Parent Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the Group or the Parent Company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Group financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The objectives of our audit are to identify and assess the risks of material misstatement of the financial
statements due to fraud or error; to obtain sufficient appropriate audit evidence regarding the assessed risks of
material misstatement due to fraud or error; and to respond appropriately to those risks. Owing to the inherent
limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may
not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK).
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, our procedures included the following:
• We obtained an understanding of the legal and regulatory frameworks applicable to the Group and the
industry in which it operates. We determined that the following laws and regulations were most significant: FRS
102 and the Companies Act 2006.
• We obtained an understanding of how the Group is complying with those legal and regulatory frameworks
by making enquiries of management.
• We challenged assumptions and judgements made by management in its significant accounting
estimates;
We did not identify any key audit matters relating to irregularities, including fraud.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our
Auditors' Report.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.

Page 6

G INTERNATIONAL LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF G INTERNATIONAL LIMITED (CONTINUED)

Use of our report

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

Leigh Genis (Senior Statutory Auditor)

for and on behalf of

Harris & Trotter LLP

Chartered Accountants

Registered Auditor

101 New Cavendish Street

1st Floor South

London

United Kingdom

W1W 6XH

17 December 2025

Page 7

G INTERNATIONAL LIMITED

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 DECEMBER 2024

	2024	2023
Note	£	£


Turnover		24,669,502	20,417,178
Cost of sales		(13,928,950)	(11,468,072)
Gross profit		10,740,552	8,949,106
Distribution costs		(281,073)	(268,961)
Administrative expenses		(5,975,754)	(3,078,843)
Operating profit	3	4,483,725	5,601,302
Interest receivable and similar income	7	1,757,110	917,131
Interest payable and similar expenses	8	(103,562)	(4,973)
Other finance income		105,414	1,781
Profit before tax		6,242,687	6,515,241
Tax on profit	9	(1,588,553)	(1,530,548)
Profit for the financial year		4,654,134	4,984,693

Other comprehensive income for the year
Foreign Exchange Reserve Movements	250	7,568
Other comprehensive income for the year	250	7,568
Total comprehensive income for the year	4,654,384	4,992,261

Profit for the year attributable to:
Owners of the parent company	(4,654,134)	(4,984,693)
	(4,654,134)	(4,984,693)

Total comprehensive income attributable to:

The notes on pages 13 to 24 form part of these financial statements.

Page 8

G INTERNATIONAL LIMITED

REGISTERED NUMBER: 06510143

CONSOLIDATED BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Tangible assets	10		803,698		904,087
			803,698		904,087
Current assets
Stocks		2,368,940		2,595,092
Debtors: amounts falling due within one year	13	2,207,399		7,663,849
Cash at bank and in hand	14	41,458,010		27,547,235
		46,034,349		37,806,176
Creditors: amounts falling due within one year		(32,733,879)		(28,970,423)
Net current assets			13,300,470		8,835,753
Total assets less current liabilities			14,104,168		9,739,840
Provisions for liabilities
Other provisions	17	(9,944)		-
			(9,944)		-
Net assets			14,094,224		9,739,840

Capital and reserves
Called up share capital	18	1,000	1,000
Foreign exchange reserve	19	7,818	7,568
Profit and loss account	19	14,085,406	9,731,272
		14,094,224	9,739,840

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 17 December 2025.

G. Spiro

Director

The notes on pages 13 to 24 form part of these financial statements.

Page 9

G INTERNATIONAL LIMITED

REGISTERED NUMBER: 06510143

COMPANY BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Tangible assets	10		4,750		-
Investments	11		833		833
			5,583		833
Current assets
Stocks	12	2,368,940		2,595,092
Debtors: amounts falling due within one year	13	4,480,099		8,874,354
Cash at bank and in hand	14	37,724,458		27,089,108
		44,573,497		38,558,554
Creditors: amounts falling due within one year	15	(30,505,756)		(28,868,992)
Net current assets			14,067,741		9,689,562
Total assets less current liabilities			14,073,324		9,690,395


Net assets excluding pension asset			14,073,324		9,690,395
Net assets			14,073,324		9,690,395

Capital and reserves
Called up share capital	18	1,000	1,000
Profit and loss account	19	14,072,324	9,689,395
		14,073,324	9,690,395

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 17 December 2025.

G. Spiro

Director

The notes on pages 13 to 24 form part of these financial statements.

Page 10

G INTERNATIONAL LIMITED

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2024

	Called up share capital	Foreign exchange reserve	Profit and loss account	Equity attributable to owners of Parent Company	Total equity
	£	£	£	£	£
At 1 January 2023	1,000	-	5,046,579	5,047,579	5,047,579

Profit for the year	-	-	4,984,693	4,984,693	4,984,693
Currency translation differences	-	7,568	-	7,568	7,568
Dividends: Equity capital	-	-	(300,000)	(300,000)	(300,000)

At 1 January 2024	1,000	7,568	9,731,272	9,739,840	9,739,840

Profit for the year	-	-	4,654,134	4,654,134	4,654,134
Currency translation differences	-	250	-	250	250
Dividends: Equity capital	-	-	(300,000)	(300,000)	(300,000)
At 31 December 2024	1,000	7,818	14,085,406	14,094,224	14,094,224

The notes on pages 13 to 24 form part of these financial statements.

Page 11

G INTERNATIONAL LIMITED

COMPANY STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2024

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 January 2023	1,000	5,046,579	5,047,579

Profit for the year	-	4,942,816	4,942,816
Dividends: Equity capital	-	(300,000)	(300,000)

At 1 January 2024	1,000	9,689,395	9,690,395

Profit for the year	-	4,682,929	4,682,929
Dividends: Equity capital	-	(300,000)	(300,000)
At 31 December 2024	1,000	14,072,324	14,073,324

The notes on pages 13 to 24 form part of these financial statements.

Page 12

G INTERNATIONAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

G International Limited is a private company, limited by shares, registered in England and Wales. The registered office is 101 New Cavendish Street, London, W1W 6XH. The financial statements are presented in Sterling, which is the functional currency of the company.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies.

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements.

The following principal accounting policies have been applied:

2.2

Basis of consolidation

The consolidated financial statements present the results of the Company and its own subsidiary ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance Sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases.
In accordance with the transitional exemption available in FRS 102, the Group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102.

Page 13

G INTERNATIONAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Group has transferred the significant risks and rewards of ownership to the buyer;

∙the Group retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Group will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property	-		Over lifetime of lease (12%)
Plant and machinery	-	25%	on cost
Fixtures and fittings	-	25%	on cost
Computer equipment	-	33%	on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 14

G INTERNATIONAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.6

Pensions

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Group in independently administered funds.

2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company and the Group operate and generate income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and

∙Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Exchange differences

(204,205)

(278,376)

Page 15

G INTERNATIONAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Fees payable to the Company's auditors for the audit of the consolidated and parent Company's financial statements	18,500	18,500
Fees payable to the Company's auditors in respect of:
All non-audit services not included above	30,534	19,026

5.	Employees
	Staff costs, including director's remuneration, were as follows:

Group	Group	Company	Company
2024	2023	2024	2023
£	£	£	£


Wages and salaries	1,193,033	828,474	1,032,079	779,655
Social security costs	152,405	104,299	112,669	90,818
Cost of defined contribution scheme	32,370	15,698	10,453	10,410
	1,377,808	948,471	1,155,201	880,883

The average monthly number of employees, including the director, during the year was as follows:

	Group	Group	Company	Company
	2024	2023	2024	2023
	No.	No.	No.	No.

Average employees	11	8	11	8

6.	Director's remuneration
		2024	2023
		£	£

Director's emoluments	458,333	287,500
	458,333	287,500

The highest paid director received remuneration of £458,333 (2023 - £287,500).

Page 16

G INTERNATIONAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

7.	Interest receivable
		2024	2023
		£	£

	Other interest receivable	1,757,110	917,131
		1,757,110	917,131

8.	Interest payable and similar expenses
		2024	2023
		£	£

	Other interest payable	103,562	4,973
		103,562	4,973

Corporation tax
Current tax on profits for the year	1,588,553	1,530,548
	1,588,553	1,530,548

Total current tax	1,588,553	1,530,548

	Deferred tax
	Total deferred tax	-	-


	Tax on profit	1,588,553	1,530,548

Page 17

G INTERNATIONAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

9.Taxation (continued)

Profit on ordinary activities before tax

6,242,687

6,515,241

Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 25%)	1,560,672	1,628,810
Effects of:
Expenses not deductible for tax purposes, other than goodwill amortisation and impairment	21,324	-
Capital allowances for year in excess of depreciation	7,239	(544)
Higher rate taxes on overseas earnings	(682)	(2,144)
Increase or decrease in tax rate during the period	-	(95,574)
Total tax charge for the year	1,588,553	1,530,548

Factors that may affect future tax charges

There were no factors that may affect future tax charges.

Enter details here

Page 18

G INTERNATIONAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

10.	Tangible fixed assets
	Group

	Leasehold property	Plant and machinery	Fixtures and fittings	Computer equipment	Total
	£	£	£	£	£
Cost or valuation
At 1 January 2024	260,236	146,195	1,580,454	3,311	1,990,196
Additions	-	-	13,143	-	13,143
At 31 December 2024	260,236	146,195	1,593,597	3,311	2,003,339
Depreciation
At 1 January 2024	-	146,195	936,602	3,311	1,086,108
Charge for the year on owned assets	35,487	-	78,046	-	113,533
At 31 December 2024	35,487	146,195	1,014,648	3,311	1,199,641
Net book value
At 31 December 2024	224,749	-	578,949	-	803,698
At 31 December 2023	260,236	-	643,851	-	904,087

The net book value of land and buildings may be further analysed as follows:
	2024	2023
	£	£

Leasehold Property	224,749	260,236
	224,749	260,236

Page 19

G INTERNATIONAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

10.Tangible fixed assets (continued)

	Company

	Plant and machinery	Fixtures and fittings	Computer equipment	Total
	£	£	£	£
Cost or valuation
At 1 January 2024	146,195	866,686	3,311	1,016,192
Additions	-	4,750	-	4,750
At 31 December 2024	146,195	871,436	3,311	1,020,942
Depreciation
At 1 January 2024	146,195	866,686	3,311	1,016,192
At 31 December 2024	146,195	866,686	3,311	1,016,192
Net book value
At 31 December 2024	-	4,750	-	4,750
At 31 December 2023	-	-	-	-

The net book value of land and buildings may be further analysed as follows:

11.	Fixed asset investments

	Company

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 January 2024	833
	At 31 December 2024	833

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G INTERNATIONAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Subsidiary undertaking
The following was a subsidiary undertaking of the Company:
Name	Registered office	Principal activity	Class of shares	Holding

G- SBH

La Citadelle du Capitaine Bertin – Gustavia – 97133 Saint-Barthélemy.

Retail outlet

Ordinary

100%

12.	Stocks
		Group	Group	Company	Company
		2024	2023	2024	2023
		£	£	£	£

Raw materials and consumables	2,368,940	2,595,092	2,368,940	2,595,092
	2,368,940	2,595,092	2,368,940	2,595,092

The difference between purchase price or production cost of stocks and their replacement cost is not material.

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G INTERNATIONAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

13.

Debtors

Group	Group	Company	Company
2024	2023	2024	2023
£	£	£	£


Trade debtors	1,403,995	7,058,445	1,403,995	7,224,410
Amounts owed by group undertakings	-	-	2,283,194	1,055,354
Other debtors	465,043	471,147	455,084	460,738
Prepayments and accrued income	338,235	134,131	337,700	133,726
Deferred taxation	126	126	126	126
	2,207,399	7,663,849	4,480,099	8,874,354

14.	Cash and cash equivalents
		Group	Group	Company	Company
		2024	2023	2024	2023
		£	£	£	£

Cash at bank and in hand	41,458,010	27,547,235	37,724,458	27,089,108
	41,458,010	27,547,235	37,724,458	27,089,108

15.	Creditors: Amounts falling due within one year
		Group	Group	Company	Company
		2024	2023	2024	2023
		£	£	£	£

Trade creditors	26,019,811	25,932,566	26,019,811	25,932,566
Corporation tax	1,791,279	1,530,516	1,779,394	1,519,449
Other taxation and social security	16,987	12,811	1,478	1,044
Other creditors	1,001,346	803,452	919,802	728,629
Accruals and deferred income	3,904,456	691,078	1,785,271	687,304
	32,733,879	28,970,423	30,505,756	28,868,992

Page 22

G INTERNATIONAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

16.	Deferred taxation
	Group

		2024
		£

	At beginning of year	126
	At end of year	126

	Company

		2024
		£

	At beginning of year	126
	At end of year	126

Group	Group	Company	Company
2024	2023	2024	2023
£	£	£	£

	Accelerated capital allowances	126	126	126	126
		126	126	126	126

17.	Provisions
	Group

		Provisions
		£

	Charged to profit or loss	9,944
	At 31 December 2024	9,944

Page 23

G INTERNATIONAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

18.	Share capital
		2024	2023
		£	£

Allotted, called up and fully paid

1,000 (2023 - 1,000) Ordinary shares of £1.00 each	1,000	1,000

19.

Reserves

Foreign exchange reserve

Includes all accumulated foreign exchange movements arising on translation of foreign subsidiary.

Profit and loss account

Includes all accumulated profits and losses of the Group.

20.	Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the companies in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £10,453 (2023: £10,410). Contributions totalling £1,478 (2023: £1,044) were payable to the fund at the balance sheet date.

21.	Controlling party

The ultimate controlling party is G Spiro.

Page 24