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REGISTERED NUMBER: 03469979 (England and Wales)












ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 SEPTEMBER 2022 TO 31 DECEMBER 2023

FOR

GEN2 BROKING LTD

GEN2 BROKING LTD (REGISTERED NUMBER: 03469979)






CONTENTS OF THE FINANCIAL STATEMENTS
for the period 1 September 2022 to 31 December 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


GEN2 BROKING LTD

COMPANY INFORMATION
for the period 1 September 2022 to 31 December 2023







DIRECTOR: A Tailor





REGISTERED OFFICE: Highdown House
11 Highdown Road
Leamington Spa
Warwickshire
CV31 1XT





REGISTERED NUMBER: 03469979 (England and Wales)






GEN2 BROKING LTD (REGISTERED NUMBER: 03469979)

ABRIDGED BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 23,341 29,269
Tangible assets 5 1,275 24,199
24,616 53,468

CURRENT ASSETS
Debtors 1,075,790 631,050
Cash in hand - 5
1,075,790 631,055
CREDITORS
Amounts falling due within one year 872,096 513,417
NET CURRENT ASSETS 203,694 117,638
TOTAL ASSETS LESS CURRENT
LIABILITIES

228,310

171,106

CREDITORS
Amounts falling due after more than one year (34,000 ) (66,000 )

PROVISIONS FOR LIABILITIES (271 ) (5,561 )
NET ASSETS 194,039 99,545

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 193,039 98,545
SHAREHOLDERS' FUNDS 194,039 99,545

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

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

The director acknowledges his 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.

GEN2 BROKING LTD (REGISTERED NUMBER: 03469979)

ABRIDGED BALANCE SHEET - continued
31 December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the period ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director and authorised for issue on 5 November 2024 and were signed by:





A Tailor - Director


GEN2 BROKING LTD (REGISTERED NUMBER: 03469979)

NOTES TO THE FINANCIAL STATEMENTS
for the period 1 September 2022 to 31 December 2023

1. STATUTORY INFORMATION

Gen2 Broking Ltd 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.

The company trades from premises at Unit C15b Holly Farm Business Park, Honiley, Warwickshire, CV8 1NP.

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.

The accounts have been prepared in accordance with applicable accounting standards. The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year.

Turnover
Turnover comprises the value of sales of services provided in the normal course of business. Revenue is recognised in respect of service contracts when the company obtains the right to consideration.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

The company's website is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on cost

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


GEN2 BROKING LTD (REGISTERED NUMBER: 03469979)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 1 September 2022 to 31 December 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 9 (2022 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 September 2022
and 31 December 2023 44,459
AMORTISATION
At 1 September 2022 15,190
Amortisation for period 5,928
At 31 December 2023 21,118
NET BOOK VALUE

At 31 December 2023 23,341
At 31 August 2022 29,269

GEN2 BROKING LTD (REGISTERED NUMBER: 03469979)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 1 September 2022 to 31 December 2023

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 September 2022 91,201
Disposals (82,086 )
At 31 December 2023 9,115
DEPRECIATION
At 1 September 2022 67,002
Charge for period 5,568
Eliminated on disposal (64,730 )
At 31 December 2023 7,840
NET BOOK VALUE
At 31 December 2023 1,275
At 31 August 2022 24,199

6. PENSION COMMITMENTS

The company operates defined contribution pension schemes in respect of employees and directors.
The pension charge for the year was £11,086 (2022: £5,737).

7. PARENT UNDERTAKING

The company's ultimate parent undertaking is Gen2 Broking Holdings Limited, a company incorporated in England and Wales whose registered office is Highdown House, 11 Highdown Road, Leamington Spa, Warwickshire, CV31 1XT.

8. CHARGES

Lloyds Bank PLC holds a fixed and floating charge over the assets of the company.