| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS FOR THE PERIOD 25 JUNE 2024 TO 31 DECEMBER 2024 |
| FOR |
| GENTWO SOLUTIONS LTD. |
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS FOR THE PERIOD 25 JUNE 2024 TO 31 DECEMBER 2024 |
| FOR |
| GENTWO SOLUTIONS LTD. |
| GENTWO SOLUTIONS LTD. (REGISTERED NUMBER: 15801165) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 25 JUNE 2024 TO 31 DECEMBER 2024 |
| Page |
| Company information | 1 |
| Balance sheet | 2 |
| Notes to the financial statements | 3 |
| GENTWO SOLUTIONS LTD. |
| COMPANY INFORMATION |
| FOR THE PERIOD 25 JUNE 2024 TO 31 DECEMBER 2024 |
| Directors: |
| Secretary: |
| Registered office: |
| Registered number: |
| Auditors: |
| Chartered Accountants and Statutory Auditors |
| 12 Old Mills Industrial Estate |
| Paulton |
| BS39 7SU |
| GENTWO SOLUTIONS LTD. (REGISTERED NUMBER: 15801165) |
| BALANCE SHEET |
| 31 DECEMBER 2024 |
| Notes | £ |
| CURRENT ASSETS |
| Debtors | 4 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 5 | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 7 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| GENTWO SOLUTIONS LTD. (REGISTERED NUMBER: 15801165) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 25 JUNE 2024 TO 31 DECEMBER 2024 |
| 1. | STATUTORY INFORMATION |
| Gentwo Solutions Ltd. is a |
| The Company’s functional and presentational currency is pounds sterling (GBP) and the financial statements have been rounded to the nearest pound (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents income earned from the parent company calculated on a cost plus basis, excluding Value Added Tax. |
| Financial instruments |
| The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments. |
| Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
| Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
| Classification of financial liabilities |
| Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. |
| Basic financial liabilities |
| Basic financial liabilities, including creditors, and loans from fellow group companies are initially recognised at transaction price. |
| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are initially recognised at transaction price. |
| 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. |
| 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 Income statement 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 Income statement in the period to which they relate. |
| GENTWO SOLUTIONS LTD. (REGISTERED NUMBER: 15801165) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 25 JUNE 2024 TO 31 DECEMBER 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Going concern |
| The financial statements have been prepared on a going concern basis. The company is reliant on its ability to recharge its expenditure to its parent company in order to settle its obligations as they fall due. The directors have received assurances from the parent company that all necessary financial support will be made available for a period of at least 12 months from the date the financial statements are approved. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was |
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| £ |
| Other debtors |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 6. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| £ |
| Within one year |
| 7. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal |
| value: | £ |
| Ordinary | 1 | 1 |
| 8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the auditors was unqualified. |
| for and on behalf of |
| 9. | ULTIMATE CONTROLLING PARTY |
| The ultimate parent company is GenTwo AG. The registered office address is Brandschenkestrasse 5, 8001 Zurich, Switzerland. |