Caseware UK (AP4) 2022.0.179 2022.0.179 2023-07-312023-07-31falseNo description of principal activity2022-08-0166truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04571107 2022-08-01 2023-07-31 04571107 2021-08-01 2022-07-31 04571107 2023-07-31 04571107 2022-07-31 04571107 2021-08-01 04571107 c:Director2 2022-08-01 2023-07-31 04571107 c:Director3 2022-08-01 2023-07-31 04571107 d:PlantMachinery 2022-08-01 2023-07-31 04571107 d:PlantMachinery 2023-07-31 04571107 d:PlantMachinery 2022-07-31 04571107 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 04571107 d:ComputerEquipment 2022-08-01 2023-07-31 04571107 d:ComputerEquipment 2023-07-31 04571107 d:ComputerEquipment 2022-07-31 04571107 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 04571107 d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 04571107 d:CurrentFinancialInstruments 2023-07-31 04571107 d:CurrentFinancialInstruments 2022-07-31 04571107 d:Non-currentFinancialInstruments 2023-07-31 04571107 d:Non-currentFinancialInstruments 2022-07-31 04571107 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 04571107 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 04571107 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-31 04571107 d:Non-currentFinancialInstruments d:AfterOneYear 2022-07-31 04571107 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-07-31 04571107 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-07-31 04571107 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-07-31 04571107 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-07-31 04571107 d:ShareCapital 2023-07-31 04571107 d:ShareCapital 2022-07-31 04571107 d:RetainedEarningsAccumulatedLosses 2023-07-31 04571107 d:RetainedEarningsAccumulatedLosses 2022-07-31 04571107 c:OrdinaryShareClass1 2022-08-01 2023-07-31 04571107 c:OrdinaryShareClass1 2023-07-31 04571107 c:OrdinaryShareClass1 2022-07-31 04571107 c:FRS102 2022-08-01 2023-07-31 04571107 c:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 04571107 c:FullAccounts 2022-08-01 2023-07-31 04571107 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 04571107 d:AcceleratedTaxDepreciationDeferredTax 2023-07-31 04571107 d:AcceleratedTaxDepreciationDeferredTax 2022-07-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 04571107










GENESIS GAMES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2023



 
GENESIS GAMES LIMITED
REGISTERED NUMBER: 04571107

BALANCE SHEET
AS AT 31 JULY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
77,023
74,800

  
77,023
74,800

Current assets
  

Stocks
 5 
125,321
177,294

Debtors: amounts falling due within one year
 6 
1,025,169
778,172

Cash at bank and in hand
  
63,055
55,727

  
1,213,545
1,011,193

Current liablities
  

Creditors: amounts falling due within one year
 7 
(1,028,169)
(826,855)

Net current assets
  
 
 
185,376
 
 
184,338

Total assets less current liabilities
  
262,399
259,138

Creditors: amounts falling due after more than one year
 8 
(18,333)
(28,332)

Provisions for liabilities
  

Deferred tax
 10 
(19,256)
(14,212)

Net assets
  
224,810
216,594


Capital and reserves
  

Called up share capital 
 11 
100
100

Profit and loss account
  
224,710
216,494

  
224,810
216,594


Page 1

 
GENESIS GAMES LIMITED
REGISTERED NUMBER: 04571107

BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




S A Bierrum
S Hatherell
Director
Director


Date: 14 November 2023
Date:14 November 2023

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
GENESIS GAMES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

Genesis Games Limited is a private company, limited by shares and incorporated in England. The address of its registered office is Reading Bridge House, George Street, Reading, Berkshire, RG1 8LS.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

  
2.2

Revenue

Turnover comprises revenue recognised by the company in respect of services supplied during the year, exclusive of Value Added Tax and trade discounts.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant & machinery
-
15% straight line
Computer equipment
-
25-33% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

Page 3

 
GENESIS GAMES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

  
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liablities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and invetments in ordinary shares.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
GENESIS GAMES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2022 - 6).

Page 5

 
GENESIS GAMES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

4.


Tangible fixed assets





Plant & machinery
Computer equipment
Total

£
£
£



Cost or valuation


At 1 August 2022
401,677
31,587
433,264


Additions
24,289
1,744
26,033



At 31 July 2023

425,966
33,331
459,297



Depreciation


At 1 August 2022
334,133
24,331
358,464


Charge for the year on owned assets
20,928
2,882
23,810



At 31 July 2023

355,061
27,213
382,274



Net book value



At 31 July 2023
70,905
6,118
77,023



At 31 July 2022
67,544
7,256
74,800


5.


Stocks

2023
2022
£
£

Finished goods and goods for resale
125,321
177,294



6.


Debtors

2023
2022
£
£


Trade debtors
1,011,700
769,850

Other debtors
4,150
437

Prepayments and accrued income
9,319
7,885

1,025,169
778,172


Page 6

 
GENESIS GAMES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

7.


Creditors: amounts falling due within one year

2023
2022
£
£

Bank loans
10,000
10,000

Trade creditors
808,225
697,116

Corporation tax
4,715
7,281

Other taxation and social security
169,399
76,323

Accruals and deferred income
35,830
36,135

1,028,169
826,855



8.


Creditors: amounts falling due after more than one year

2023
2022
£
£

Bank loans
18,333
28,332



9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Amounts falling due within one year
10,000
10,000

Amounts falling due 1-2 years
10,000
10,000

Amounts falling due 2-5 years
8,333
18,333

28,333
38,333


The loan is interest bearing after the first year at a rate of 2.5% and repayable over 5 years ending 21 June 2025.

Page 7

 
GENESIS GAMES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

10.


Deferred taxation




2023
2022


£

£






At beginning of year
(14,212)
(10,170)


Charged to profit or loss
(5,044)
(4,042)



At end of year
(19,256)
(14,212)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(19,256)
(14,212)


11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100



12.


Related party transactions

During the period the company rented a property from Genesis Enterprises for an amount of £30,300 (2022: £29,400). The partners of Genesis Enterprises are also the directors and shareholders of Genesis Games Limited.
During the period the company received management fees of £74,040 (2022: £74,040) from Touch and Win Limited, a company of which S A Bierrum, H P Bierrum and S Hatherell are directors and shareholders. At 31 July 2023 an amount of £14,751 (2022: £28,281) was owed by Touch and Win Limited.
Included in other creditors is the amount of £18 (2022: £134) owed from the directors.


13.


Controlling party

The company is controlled by S A Bierrum and H P Bierrum by virtue of their majority shareholdings in the Company.


Page 8