8 November 2022 false Taxfiler 2023.14 14470718business:PrivateLimitedCompanyLtd2022-11-082023-11-30 144707182022-11-07 144707182022-11-082023-11-30 14470718business:AuditExempt-NoAccountantsReport2022-11-082023-11-30 14470718business:AbridgedAccounts2022-11-082023-11-30 144707182023-11-30 14470718core:WithinOneYear2023-11-30 14470718core:ShareCapitalcore:PreviouslyStatedAmount2023-11-30 14470718core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-11-30 14470718core:PreviouslyStatedAmount2023-11-30 14470718business:SmallEntities2022-11-082023-11-30 14470718business:Director22022-11-082023-11-30 14470718countries:EnglandWales2022-11-082023-11-30 14470718business:RegisteredOffice2022-11-082023-11-30 14470718core:PlantMachinery2022-11-082023-11-30 14470718core:ComputerEquipment2022-11-082023-11-30 14470718core:AcceleratedTaxDepreciationDeferredTax2023-11-30 14470718business:OrdinaryShareClass12022-11-082023-11-30 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 14470718 (England and Wales)
GENIO NETWORKS LTD Unaudited accounts for the period from 8 November 2022 to 30 November 2023
GENIO NETWORKS LTD Statement of financial position as at 30 November 2023
2023 
Notes
£ 
Fixed assets
Tangible assets
8,235 
Current assets
Debtors
2,304 
Cash at bank and in hand
61,949 
64,253 
Creditors: amounts falling due within one year
(31,104)
Net current assets
33,149 
Total assets less current liabilities
41,384 
Provisions for liabilities
Deferred tax
(1,103)
Net assets
40,281 
Capital and reserves
Called up share capital
100 
Profit and loss account
40,181 
Shareholders' funds
40,281 
For the period ending 30 November 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the period in accordance with Section 444(2A).
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 of Directors and authorised for issue on 12 December 2023 and were signed on its behalf by
Ishtiaq Ahmed Director Company Registration No. 14470718
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GENIO NETWORKS LTD Notes to the Accounts for the period from 8 November 2022 to 30 November 2023
1
Statutory information
GENIO NETWORKS LTD is a private company, limited by shares, registered in England and Wales, registration number 14470718. The registered office is 31 Enfield Drive, Bradford, BD6 3HZ, ENGLAND.
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.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% on reducing balance
Computer equipment
25% on reducing balance
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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GENIO NETWORKS LTD Notes to the Accounts for the period from 8 November 2022 to 30 November 2023
4
Tangible fixed assets
Total 
£ 
Cost or valuation
At 8 November 2022
- 
Additions
10,780 
At 30 November 2023
10,780 
Depreciation
Charge for the period
2,545 
At 30 November 2023
2,545 
Net book value
At 30 November 2023
8,235 
5
Deferred taxation
2023 
£ 
Accelerated capital allowances
1,103 
2023 
£ 
Charged to the profit and loss account
1,103 
Provision at end of period
1,103 
6
Share capital
2023 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
7
Average number of employees
During the period the average number of employees was 3.
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