| 2G Products Ltd |
| Notes to the Accounts |
| for the year ended 31 October 2025 |
|
|
| 1 |
Accounting policies |
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Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
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Intangible fixed assets |
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Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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|
Freehold buildings |
over 50 years |
|
Leasehold land and buildings |
over the lease term |
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Plant and machinery |
over 5 years |
|
Fixtures, fittings, tools and equipment |
over 5 years |
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|
Stocks |
|
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
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|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
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|
| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company |
4 |
|
4 |
|
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| 3 |
Intangible fixed assets |
£ |
|
Goodwill: |
|
|
Cost |
|
At 1 November 2024 |
110,000 |
|
At 31 October 2025 |
110,000 |
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|
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 November 2024 |
110,000 |
|
At 31 October 2025 |
110,000 |
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Net book value |
|
At 31 October 2025 |
- |
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Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years. |
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| 4 |
Tangible fixed assets |
|
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|
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|
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Plant and machinery etc |
| £ |
|
Cost |
|
At 1 November 2024 |
281,590 |
|
At 31 October 2025 |
281,590 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 November 2024 |
262,453 |
|
Charge for the year |
9,569 |
|
At 31 October 2025 |
272,022 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 October 2025 |
9,568 |
|
At 31 October 2024 |
19,137 |
|
|
| 5 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade debtors |
69,953 |
|
29,744 |
|
|
|
|
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|
|
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| 6 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade creditors |
53,545 |
|
48,858 |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
1,500 |
|
1,500 |
|
Taxation and social security costs |
10,890 |
|
18,650 |
|
Other creditors |
13,743 |
|
12,239 |
|
|
|
|
|
|
79,678 |
|
81,247 |
|
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| 7 |
Other information |
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2G Products Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is: |
|
Unit 9, Spires Business Units |
|
Mugiemoss Road |
|
Aberdeen |
|
Aberdeenshire |
|
AB21 9NY |