Company Registration No. 8969542 (England and Wales)
Generation O S Ltd
Unaudited accounts
for the year ended 31 December 2023
Generation O S Ltd
Unaudited accounts
Contents
Generation O S Ltd
Company Information
for the year ended 31 December 2023
Company Number
8969542 (England and Wales)
Accountants
Smeaton & Holmes Ltd
70 Market Street
Dalton-in-Furness
Cumbria
LA15 8AA
Generation O S Ltd
Statement of financial position
as at 31 December 2023
Tangible assets
36,830
10,957
Cash at bank and in hand
10,245
16,586
Creditors: amounts falling due within one year
(40,811)
(13,852)
Net current (liabilities)/assets
(17,831)
10,164
Total assets less current liabilities
18,999
21,121
Creditors: amounts falling due after more than one year
(11,785)
(17,083)
Called up share capital
1
1
Profit and loss account
7,213
4,037
Shareholders' funds
7,214
4,038
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 5 February 2024 and were signed on its behalf by
Mr O Solarin
Director
Company Registration No. 8969542
Generation O S Ltd
Notes to the Accounts
for the year ended 31 December 2023
Generation O S Ltd is a private company, limited by shares, registered in England and Wales, registration number 8969542.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2023
44,675
-
329
45,004
Additions
1,318
36,955
-
38,273
Disposals
(13,700)
-
-
(13,700)
At 31 December 2023
32,293
36,955
329
69,577
At 1 January 2023
33,960
-
87
34,047
Charge for the year
2,280
6,056
61
8,397
On disposals
(9,697)
-
-
(9,697)
At 31 December 2023
26,543
6,056
148
32,747
At 31 December 2023
5,750
30,899
181
36,830
At 31 December 2022
10,715
-
242
10,957
Generation O S Ltd
Notes to the Accounts
for the year ended 31 December 2023
Amounts falling due within one year
Trade debtors
12,735
7,430
6
Creditors: amounts falling due within one year
2023
2022
Obligations under finance leases and hire purchase contracts
33,063
-
Taxes and social security
10,984
8,646
Loans from directors
(9,999)
330
7
Creditors: amounts falling due after more than one year
2023
2022
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
9
Average number of employees
During the year the average number of employees was 1 (2022: 1).