2GC Limited
Filleted accounts
31 March 2025
Company registration number:
03754183
2GC Limited
Directors and other information
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Directors |
G J G Lawrie |
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Mrs S A Lawrie |
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Secretary |
Mrs S A Lawrie |
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Company number |
03754183 |
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Registered office |
The Old Dairy |
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12 Stephen Road |
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Headington |
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Oxford |
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OX3 9AY |
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Accountants |
Cox Hinkins & Co. Limited |
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Accountants and Taxation Advisors |
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The Old Dairy |
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12 Stephen Road |
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Headington |
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Oxford |
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OX3 9AY |
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2GC Limited
Balance sheet
31st March 2025
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2025 |
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2024 |
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Note |
£ |
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£ |
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£ |
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£ |
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Fixed assets |
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Intangible assets |
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5 |
- |
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- |
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Tangible assets |
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6 |
- |
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- |
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_______ |
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_______ |
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- |
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- |
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Current assets |
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Debtors |
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7 |
8,518 |
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447 |
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Cash at bank and in hand |
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12,394 |
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10,444 |
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_______ |
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_______ |
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20,912 |
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10,891 |
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Creditors: amounts falling due |
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within one year |
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8 |
(
132,594) |
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(
147,355) |
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_______ |
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_______ |
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Net current liabilities |
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(
111,682) |
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(
136,464) |
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_______ |
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_______ |
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Total assets less current liabilities |
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(
111,682) |
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(
136,464) |
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Creditors: amounts falling due |
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after more than one year |
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9 |
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(
936) |
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(
1,897) |
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_______ |
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_______ |
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Net liabilities |
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(
112,618) |
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(
138,361) |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
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10 |
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100 |
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100 |
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Profit and loss account |
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(
112,718) |
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(
138,461) |
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_______ |
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_______ |
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Shareholders deficit |
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(
112,618) |
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(
138,361) |
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_______ |
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_______ |
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For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the Profit & loss account has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
24 December 2025
, and are signed on behalf of the board by:
G J G Lawrie
Director
Company registration number:
03754183
2GC Limited
Notes to the financial statements
Year ended 31st March 2025
1.
General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is The Old Dairy, 12 Stephen Road, Headington, Oxford, OX3 9AY.
There was no significant change in the company's principal activity during the year which continued to be that of consultancy.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standards applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The principal accounting policies are set out below. The financial statements are prepared in sterling which is the functional currency of the entity.
Going concern
At 31st March 2025 the company had a deficiency of assets amounting to £112,618 (2024: £138,361) after taking into consideration a loan from the directors totalling £124,437 (2024: £139,587). The company is reliant upon the financial support and guarantees of its directors who have indicated that this will be continued for at least a further twelve months from the date of approval of these accounts. In light of this continued support, the financial statements have been prepared on the going concern basis.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is not recognised in respect of any timing differences at the reporting date as all are insignificant. Unrelieved tax losses and other deferred tax assets are not recognised as it is uncertain when they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to profit or loss.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
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| Website development costs |
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Straight line basis over 5 years |
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If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:
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Leasehold property |
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Straight line basis over 8 years |
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Equipment |
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Straight line basis at 25% per annum |
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If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractualarrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the asset of the company after deducting all of its liabilities.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2024: Nil).
8.
Creditors: amounts falling due within one year
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2025 |
2024 |
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£ |
£ |
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Bank loan |
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939 |
916 |
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Social security and other taxes |
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4,515 |
4,366 |
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Other creditors |
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127,140 |
142,073 |
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_______ |
_______ |
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132,594 |
147,355 |
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_______ |
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9.
Creditors: amounts falling due after more than one year
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2025 |
2024 |
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£ |
£ |
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Bank loan |
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936 |
1,897 |
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_______ |
_______ |
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10.
Called up share capital
Issued, called up and fully paid
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2025 |
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2024 |
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No |
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£ |
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No |
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£ |
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Ordinary shares of £
1.00 each |
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100 |
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100 |
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100 |
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100 |
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_______ |
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11.
Controlling party
The company is under the control of
G J G Lawrie
who owns 80% of the issued share capital.