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Registered number: 12289020
GEN Plumbing Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2025
E Johnson & Associates Ltd
637 Green Lanes
London
N8 0RE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12289020
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 9,818 1,690
9,818 1,690
CURRENT ASSETS
Stocks 5 17,922 14,357
Debtors 6 98,708 88,871
Cash at bank and in hand 138 58,121
116,768 161,349
Creditors: Amounts Falling Due Within One Year 7 (99,749 ) (94,618 )
NET CURRENT ASSETS (LIABILITIES) 17,019 66,731
TOTAL ASSETS LESS CURRENT LIABILITIES 26,837 68,421
Creditors: Amounts Falling Due After More Than One Year 8 (24,750 ) (40,250 )
NET ASSETS 2,087 28,171
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account 2,085 28,169
SHAREHOLDERS' FUNDS 2,087 28,171
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Page 2
For the year ending 31 October 2025 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr G Nazare
Director
11th June 2026
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
GEN Plumbing Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12289020 . The registered office is 16 Norbury Road, Thornton Heath, CR7 8JN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% on reducing balance
Computer Equipment 25% on reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2024: 2)
2 2
4. Tangible Assets
Motor Vehicles Computer Equipment Total
£ £ £
Cost
As at 1 November 2024 - 3,797 3,797
Additions 11,400 - 11,400
As at 31 October 2025 11,400 3,797 15,197
Depreciation
As at 1 November 2024 - 2,107 2,107
Provided during the period 2,850 422 3,272
As at 31 October 2025 2,850 2,529 5,379
Net Book Value
As at 31 October 2025 8,550 1,268 9,818
As at 1 November 2024 - 1,690 1,690
5. Stocks
2025 2024
£ £
Work in progress 17,922 14,357
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 15,258 26,242
Other debtors 83,450 62,629
98,708 88,871
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 45,747 12,756
Bank loans and overdrafts 9,010 6,000
Other loans 11,000 11,000
Other creditors 2,847 2,644
Taxation and social security 31,145 62,218
99,749 94,618
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8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans - 4,500
Other loans 24,750 35,750
24,750 40,250
9. Share Capital
2025 2024
Allotted, called up and fully paid £ £
2 Ordinary Shares of £ 1.00 each 2 2
10. Dividends
2025 2024
£ £
On equity shares:
Final dividend paid 84,300 72,800
11. Related Party Transactions
During the year, total dividends of £84,300 were paid to the directors. (2024 - £72,800)
12. Ultimate Controlling Party
The company is controlled by the directors of the company.
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