REGISTERED NUMBER: 11423464 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

GEN PLUS GROUP LIMITED

Page

Statement of Financial Position

1

Notes to the Financial Statements

2

FIXED ASSETS

Investments

4

67,963

50,100

CURRENT ASSETS

Inventories

88,305

-

Debtors

5

866,764

470,675

Cash at bank and in hand

735,291

280,787

1,690,360

751,462

CREDITORS

Amounts falling due within one year

6

1,716,208

389,780

NET CURRENT (LIABILITIES)/ASSETS

(25,848

)

361,682

TOTAL ASSETS LESS CURRENT LIABILITIES

42,115

411,782

CAPITAL AND RESERVES

Called up share capital

266

200

Retained earnings

41,849

411,582

SHAREHOLDERS' FUNDS

42,115

411,782

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 30 December 2025 and were signed on its behalf by:

Mrs S Panagiotaki - Director

1.	STATUTORY INFORMATION

Gen Plus Group Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

11423464

Registered office:

1 Kings Avenue

Winchmore Hill

London

N21 3NA

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Preparation of consolidated financial statements

The financial statements contain information about Gen Plus Group Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Significant judgements and estimates

In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements or estimates involved in the preparation of the financial statements.

Investments in subsidiaries

Investment in subsidiary undertakings are recognised at cost less impairment.

Stocks

Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year 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 statement of financial position date.

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.

Cash and cash equivalent

Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

Change in comparatives

The accounts have been prepared for a period of 12 months whereas the comparatives are for a period of 18 months.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4.	FIXED ASSET INVESTMENTS

Shares in

group

Other

undertakings

investments

Totals

£

£

£

COST

At 1 January 2024

100

50,000

50,100

Additions

17,863

-

17,863

At 31 December 2024

17,963

50,000

67,963

NET BOOK VALUE

At 31 December 2024

17,963

50,000

67,963

At 31 December 2023

100

50,000

50,100

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed by group undertakings

201,208

-

Other debtors

665,556

470,675

866,764

470,675

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

612

-

Amounts owed to group undertakings

1,701,458

389,270

Taxation and social security

743

510

Other creditors

13,395

-

1,716,208

389,780

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in the other debtors due within one year is an amount of £467,777 (2023: £314,997) due from the directors of the company. Interest at the rate of 2.25% per annum has been changed on the overdrawn balance.The loans were fully paid on 8th April 2025.

8.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Included within other debtors are loans owed to the company amounting to £104,850 (2023: £104,850). These loans were provided to companies connected by virtue of common directorships and remain interest free and recoverable on demand.

Also, included in the other debtors due within one year is an amount of £82,657 (2023: £82,778) due from the shareholders of the company. Interest at the rate of 2.25% per annum has been changed on the overdrawn balance.The loan was fully repaid on 8th April 2025.

Included within other creditors are loans owed to the company amounting to £7,695 (2023: £Nil). These loans were provided to companies connected by virtue of common directorships and remain interest free and repayable on demand.