diff --git a/Makefile b/Makefile
index acc172453c7d2e45e4a2288b256fec3b5fa305bc..f68d15e80acc9bfc7f2927612d726e073be44ed4 100644
--- a/Makefile
+++ b/Makefile
@@ -9,7 +9,7 @@
 # Version
 #
 export VERSION_MAJOR := 2
-export VERSION_MINOR := 3
+export VERSION_MINOR := 4
 export VERSION_PATCH := 0
 
 #
diff --git a/framework/test/test_version.c b/framework/test/test_version.c
index 82d2ea364666794773660cbcb1a437b8a90a11d7..4c87057fd825082e0350a1603bd5df5b2efdad6a 100644
--- a/framework/test/test_version.c
+++ b/framework/test/test_version.c
@@ -14,13 +14,13 @@
 static void test_version(void)
 {
     assert(BUILD_VERSION_MAJOR == 2);
-    assert(BUILD_VERSION_MINOR == 3);
+    assert(BUILD_VERSION_MINOR == 4);
     assert(BUILD_VERSION_PATCH == 0);
 }
 
 static void test_version_string(void)
 {
-    const char *result_string = "v2.3.0";
+    const char *result_string = "v2.4.0";
 
     assert(strcmp(BUILD_VERSION_STRING, result_string) == 0);
 }
diff --git a/readme.md b/readme.md
index 33c8f85901885e42af376327c7d2c0f097134afd..18a2cbd6e4486eea270ce73925ff438d7680d9a0 100644
--- a/readme.md
+++ b/readme.md
@@ -1,5 +1,5 @@
-Readme
-======
+SCP-firmware - version 2.4
+==========================
 
 Copyright (c) 2011-2018, Arm Limited. All rights reserved.
 
@@ -36,6 +36,26 @@ SCP-firmware provides a software reference implementation for the System Control
 Processor (SCP) and Manageability Control Processor (MCP) components found in
 several Arm Compute Sub-Systems.
 
+Functionality
+-------------
+
+- Initialization of the system to enable application core boot
+- Power domain management
+- System power management
+- Dynamic voltage and frequency scaling (DVFS)
+- Sensor management
+- System Control and Management Interface (SCMI, platform-side)
+- Support for the GNU Arm Embedded and Arm Compiler 6 toolchains
+- Support for platforms with several control processors
+
+Platforms
+---------
+
+Various builds of the release have been tested on the following ARM Fixed
+Virtual Platforms (FVPs):
+
+- System Guidance for Mobile platform SGM-775 (Version 11.1 Build 30)
+
 License
 -------