REGISTERED NUMBER: SC753994 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2025

for

Gensource Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J King

R S Wilson

D Gardner

G J Thake

REGISTERED OFFICE:

Unit 4a

Newhailes Business Park

Newhailes Road

Musselburgh

EH21 6RH

REGISTERED NUMBER:

SC753994 (Scotland)

ACCOUNTANTS:

Cowan & Partners Limited

60 Constitution Street

Edinburgh

EH6 6RR

FIXED ASSETS

Tangible assets

4

84,545

30,127

CURRENT ASSETS

Stocks

65,382

21,688

Debtors

5

279,451

176,732

Cash at bank

140,825

142,993

485,658

341,413

CREDITORS

Amounts falling due within one year

6

331,737

254,586

NET CURRENT ASSETS

153,921

86,827

TOTAL ASSETS LESS CURRENT LIABILITIES

238,466

116,954

CREDITORS

Amounts falling due after more than one year

7

(40,593

)

-

PROVISIONS FOR LIABILITIES

(16,471

)

-

NET ASSETS

181,402

116,954

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

181,302

116,854

181,402

116,954

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 18 August 2026 and were signed on its behalf by:

J King - Director

1.	STATUTORY INFORMATION

Gensource Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

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.

Plant and machinery etc

-

33.33% on cost and 25% on reducing balance

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Grants

Grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Taxation

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 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.

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 10 (2024 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2025

41,758

Additions

85,720

At 31 December 2025

127,478

DEPRECIATION

At 1 January 2025

11,631

Charge for year

31,302

At 31 December 2025

42,933

NET BOOK VALUE

At 31 December 2025

84,545

At 31 December 2024

30,127

No indicators of impairment were noted in the year.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade debtors

237,344

165,826

Other debtors

42,107

10,906

279,451

176,732

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Hire purchase contracts

9,204

-

Trade creditors

157,825

27,284

Taxation and social security

60,041

95,281

Other creditors

104,667

132,021

331,737

254,586

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.25

31.12.24

£

£

Hire purchase contracts

40,593

-

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2025 and 31 December 2024:

31.12.25

31.12.24

£

£

G J Thake

Balance outstanding at start of year

-

-

Amounts advanced

22,297

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

22,297

-

The above amount was advanced to a director in the year. Interest was charged at the HMRC approved rate, and all amounts have been settled post year-end.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Gensource Group Ltd, a company incorporated in Scotland.