GNS Networking Limited 10500914 false 2023-12-01 2024-11-30 2024-11-30 The principal activity of the company is Networking Consultancy Digita Accounts Production Advanced 6.30.9574.0 true 10500914 2023-12-01 2024-11-30 10500914 2024-11-30 10500914 core:RetainedEarningsAccumulatedLosses 2024-11-30 10500914 core:ShareCapital 2024-11-30 10500914 core:CurrentFinancialInstruments 2024-11-30 10500914 core:CurrentFinancialInstruments core:WithinOneYear 2024-11-30 10500914 core:Non-currentFinancialInstruments core:AfterOneYear 2024-11-30 10500914 bus:SmallEntities 2023-12-01 2024-11-30 10500914 bus:AuditExemptWithAccountantsReport 2023-12-01 2024-11-30 10500914 bus:FullAccounts 2023-12-01 2024-11-30 10500914 bus:SmallCompaniesRegimeForAccounts 2023-12-01 2024-11-30 10500914 bus:RegisteredOffice 2023-12-01 2024-11-30 10500914 bus:Director1 2023-12-01 2024-11-30 10500914 bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 10500914 core:OfficeEquipment 2023-12-01 2024-11-30 10500914 countries:EnglandWales 2023-12-01 2024-11-30 10500914 2022-12-01 2023-11-30 10500914 2023-11-30 10500914 core:RetainedEarningsAccumulatedLosses 2023-11-30 10500914 core:ShareCapital 2023-11-30 10500914 core:CurrentFinancialInstruments 2023-11-30 10500914 core:CurrentFinancialInstruments core:WithinOneYear 2023-11-30 10500914 core:Non-currentFinancialInstruments core:AfterOneYear 2023-11-30 iso4217:GBP xbrli:pure

Registration number: 10500914

GNS Networking Limited

Annual Report and Unaudited Financial Statements

For The Year Ended 30 November 2024

 

GNS Networking Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 3

 

GNS Networking Limited

(Registration number: 10500914)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

           

Current assets

   

 

Debtors

4

 

-

 

505

Cash at bank and in hand

   

32,856

 

36,051

   

32,856

 

36,556

Creditors: Amounts falling due within one year

5

 

(4,358)

 

(2,864)

Total assets less current liabilities

   

28,498

 

33,692

Creditors: Amounts falling due after more than one year

5

 

(2,817)

 

(5,812)

Net assets

   

25,681

 

27,880

Capital and reserves

   

 

Called up share capital

100

 

100

 

Profit and loss account

25,581

 

27,780

 

Total equity

   

25,681

 

27,880

For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 31 January 2025
 

.........................................
Mr M. Lydon
Director

 

GNS Networking Limited

Notes to the Unaudited Financial Statements For The Year Ended 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
12 Barrowby Avenue
Leeds
LS15 8QF

These financial statements were authorised for issue by the director on 31 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.
The company recognises revenue when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the company.

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33% on cost

 

GNS Networking Limited

Notes to the Unaudited Financial Statements For The Year Ended 30 November 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Debtors

Current

2024
£

2023
£

Other debtors

-

505

The loan to the director was repaid during the year.(2023 £505).

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Loans and borrowings

2,864

2,864

Other creditors

1,494

-

4,358

2,864

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Loans and borrowings

2,817

5,812