IRIS Accounts Production v23.4.0.336 10662049 Board of Directors 1.1.23 31.12.23 31.12.23 false true false false true false Ordinary 100.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh106620492022-12-31106620492023-12-31106620492023-01-012023-12-31106620492021-12-31106620492022-01-012022-12-31106620492022-12-3110662049ns15:EnglandWales2023-01-012023-12-3110662049ns14:PoundSterling2023-01-012023-12-3110662049ns10:Director12023-01-012023-12-3110662049ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3110662049ns10:SmallEntities2023-01-012023-12-3110662049ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3110662049ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3110662049ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3110662049ns10:FullAccounts2023-01-012023-12-3110662049ns10:OrdinaryShareClass12023-01-012023-12-3110662049ns10:Director22023-01-012023-12-3110662049ns10:CompanySecretary12023-01-012023-12-3110662049ns10:RegisteredOffice2023-01-012023-12-3110662049ns5:CurrentFinancialInstruments2023-12-3110662049ns5:CurrentFinancialInstruments2022-12-3110662049ns5:ShareCapital2023-12-3110662049ns5:ShareCapital2022-12-3110662049ns5:RetainedEarningsAccumulatedLosses2023-12-3110662049ns5:RetainedEarningsAccumulatedLosses2022-12-3110662049ns5:ComputerEquipment2023-01-012023-12-3110662049ns5:ComputerEquipment2022-12-3110662049ns5:ComputerEquipment2023-12-3110662049ns5:ComputerEquipment2022-12-3110662049ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3110662049ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3110662049ns10:OrdinaryShareClass12023-12-3110662049ns5:RetainedEarningsAccumulatedLosses2022-12-3110662049ns5:RetainedEarningsAccumulatedLosses2023-01-012023-12-31
REGISTERED NUMBER: 10662049 (England and Wales)















Generic Network Systems Limited

Unaudited Financial Statements

for the Year Ended 31 December 2023






Generic Network Systems Limited (Registered number: 10662049)

Contents of the Financial Statements
for the year ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Generic Network Systems Limited

Company Information
for the year ended 31 December 2023







Directors: R Trangmar
T Gamble





Secretary: R Trangmar





Registered office: 71-75 Shelton Street
Covent Garden
London
WC2H 9JQ





Registered number: 10662049 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

Generic Network Systems Limited (Registered number: 10662049)

Balance Sheet
31 December 2023

2023 2022
Notes £ £ £ £
Fixed assets
Tangible assets 4 3,389 7,186

Current assets
Debtors 5 49,833 50,108
Cash at bank 13,548 28,620
63,381 78,728
Creditors
Amounts falling due within one year 6 10,388 18,934
Net current assets 52,993 59,794
Total assets less current liabilities 56,382 66,980

Capital and reserves
Called up share capital 7 10,000 10,000
Retained earnings 8 46,382 56,980
Shareholders' funds 56,382 66,980

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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

The financial statements were approved by the Board of Directors and authorised for issue on 27 March 2024 and were signed on its behalf by:





R Trangmar - Director


Generic Network Systems Limited (Registered number: 10662049)

Notes to the Financial Statements
for the year ended 31 December 2023


1. Statutory information

Generic Network Systems Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 represents amounts receivable for services provided in the year and is stated net of VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on cost

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Going concern
These financial statements have been prepared on a going concern basis and they do not include any adjustments which may be necessary should the going concern basis of accounting no longer be appropriate.

3. Employees and directors

The average number of employees during the year was 2 (2022 - 1 ) .

Generic Network Systems Limited (Registered number: 10662049)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


4. Tangible fixed assets
Computer
equipment
£
Cost
At 1 January 2023 29,014
Additions 949
At 31 December 2023 29,963
Depreciation
At 1 January 2023 21,828
Charge for year 4,746
At 31 December 2023 26,574
Net book value
At 31 December 2023 3,389
At 31 December 2022 7,186

5. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors 4,574 4,849
Other debtors 45,259 45,259
49,833 50,108

6. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors - 216
Taxation and social security 831 11,542
Other creditors 9,557 7,176
10,388 18,934

7. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
100 Ordinary £100 10,000 10,000

8. Reserves
Retained
earnings
£

At 1 January 2023 56,980
Deficit for the year (10,598 )
At 31 December 2023 46,382

Generic Network Systems Limited (Registered number: 10662049)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


9. Related party disclosures

Included in purchases is £139,282 (2022 : £110,000) from a related company under common control.

Included in other debtors is £45,259 (2022 - £45,259) owed by a related company under common control and £6,200 (2022 - £6,200) owed to company directors.