Generic Medicine Supply Solutions Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 07795334 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 October 2025

for

Generic Medicine Supply Solutions Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

K Nickson

Mrs E L Nickson

REGISTERED OFFICE:

3 Colwick Quays

Business Park

Colwick

Nottingham

Nottinghamshire

NG4 2JY

REGISTERED NUMBER:

07795334 (England and Wales)

ACCOUNTANTS:

D. K. Rumsby & Co Limited

3 Colwick Quays

Colwick

Nottingham

Nottinghamshire

NG4 2JY

FIXED ASSETS

Tangible assets

4

36,290

35,244

CURRENT ASSETS

Debtors

5

88,125

92,818

Cash at bank

2,394

1,682

90,519

94,500

CREDITORS

Amounts falling due within one year

6

(30,491

)

(62,753

)

NET CURRENT ASSETS

60,028

31,747

TOTAL ASSETS LESS CURRENT
LIABILITIES

96,318

66,991

PROVISIONS FOR LIABILITIES

(1,376

)

(716

)

NET ASSETS

94,942

66,275

CAPITAL AND RESERVES

Called up share capital

7

100

Retained earnings

94,842

66,175

SHAREHOLDERS' FUNDS

94,942

66,275

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2025 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 July 2026 and were signed on its behalf by:

K Nickson - Director

1.	STATUTORY INFORMATION

Generic Medicine Supply Solutions 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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 year 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 year was 3 (2024 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 November 2024

34,209

11,152

45,361

Additions

-

3,565

At 31 October 2025

34,209

14,717

48,926

DEPRECIATION

At 1 November 2024

2,737

7,380

10,117

Charge for year

684

1,835

2,519

At 31 October 2025

3,421

9,215

12,636

NET BOOK VALUE

At 31 October 2025

30,788

5,502

36,290

At 31 October 2024

31,472

3,772

35,244

5.

DEBTORS

31.10.25

31.10.24

£

Amounts falling due within one year:

Trade debtors

9,237

18,000

Other debtors

59,331

56,034

68,568

74,034

Amounts falling due after more than one year:

Other debtors

19,557

18,784

Aggregate amounts

88,125

92,818

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.25

31.10.24

£

Bank loans and overdrafts

-

5,161

Trade creditors

276

-

Taxation and social security

25,221

53,708

Other creditors

4,994

3,884

30,491

62,753

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.25

31.10.24

value:

£

100

Ordinary

£1

100

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year a balance existed between the company and its directors, and at the year end £59,045 (2024: £53,034) was owed to the company. Interest at the HMRC official rate has been charged on this loan amounting to £1,277 (2024: £1,098).