Genesis Consultants Limited Filleted Accounts Cover
Genesis Consultants Limited
Company No. 02726822
Information for Filing with The Registrar
31 October 2022
Genesis Consultants Limited Directors Report Registrar
The Directors present their report and the accounts for the year ended 31 October 2022.
Principal activities
The principal activity of the company during the year under review was property management.
Directors
The Directors who served at any time during the year were as follows:
Norman Simpson
(Resigned 23 January 2022)
Paul F Herzberg
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
Paul F Herzberg
Director
25 October 2023
Genesis Consultants Limited Balance Sheet Registrar
at
31 October 2022
Company No.
02726822
Notes
2022
2021
£
£
Fixed assets
Tangible assets
4
133178
133178
Current assets
Debtors
5
75,12450,794
Cash at bank and in hand
3,969605
79,09351,399
Creditors: Amount falling due within one year
6
(266,371)
(224,349)
Net current liabilities
(187,278)
(172,950)
Total assets less current liabilities
(187,145)
(172,772)
Net liabilities
(187,145)
(172,772)
Capital and reserves
Share premium account
8
100100
Profit and loss account
8
(187,245)
(172,872)
Total equity
(187,145)
(172,772)
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 October 2022 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 25 October 2023
And signed on its behalf by:
Paul F Herzberg
Director
25 October 2023
Genesis Consultants Limited Notes to the Accounts Registrar
for the year ended 31 October 2022
1
General information
Its registered number is: 02726822
Its registered office is:
C17 Kestrel Business Cenre
Colwick Industrial Estate
Nottingham
NG4 2JR
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006.
Going concern
The financial statements have been prepared on the going concern basis . The principal creditor of the company is a common controlled by the company's director . The creditor has confirmed that it does not intend to seek repayment of the amount due to it in the foreseeabale future.
2
Accounting policies
Turnover
Turnover is the fair value of rent receivable for the period.
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.
Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:
Motor vehicles
25% Reducing balance
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 profit and loss account 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 temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary 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.

Current or deferred tax for the year is recognised in profit or loss, except when they relate 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.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other 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.
Financial instruments
Financial assets
Basic financial assets, including trade and other receivables and cash and bank balances, are recognised and carried forward at transaction price. Financial assets are derecognised when:
(a) The contractual rights to the cash flows from the asset expire or are settled;
(b) Substantially all the risks and rewards of the ownership of the asset are transferred to another party; or
(c) Control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Financial liabilities
Basic financial liabilities, including trade and other payables, and loans from third parties are initially recognised and carried forward at transaction price.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
The company has only financial assets and financial liabilities of a kind that qualify as a basic financial instruments. Basic financial instruments are recognised initially at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest rate method.
Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.
3
Employees
2022
2021
Number
Number
The average monthly number of employees (including directors) during the year was:
33
4
Tangible fixed assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost or revaluation
At 1 November 2021
13727,45227,589
At 31 October 2022
13727,45227,589
Depreciation
At 1 November 2021
13727,27427,411
Charge for the year
-4545
At 31 October 2022
13727,31927,456
Net book values
At 31 October 2022
-133133
At 31 October 2021
-
178
178
5
Debtors
2022
2021
£
£
Amounts owed by group undertakings
66,13045,550
Other debtors
8,9945,244
75,12450,794
6
Creditors:
amounts falling due within one year
2022
2021
£
£
Amounts owed to group undertakings
250,903
202,907
Taxes and social security
2
2
Other creditors
1,9101,910
Accruals and deferred income
13,55619,530
266,371224,349
7
Share Capital
Share capital consists of 100 Ordinary Shares of £1 each, whch are fully paid up
8
Reserves
Share premium account - includes any premiums received on issue of share capital. Any transaction costs associated with the issuing of shares are deducted from share premium.
Profit and loss account - includes all current and prior period retained profits and losses.
9
Related party transactions
1. With Trinity Holdings (East Midlands) Limited
Trinity Holdings (East Midlands) Limited is the parent undertaking of the company.
A management charge of £70,000 (2021 £70,000) was made by the company to Trinity Holdings (East Midlands) Limited for the year ended 31 October 2022.
At 31 October 2022 the company owed £250,903 (2021 £202,907) to Trinity Holdings (East Midlands) Limited.
The balance is unsecured, interest free and is repayable upon demand.
2. With Sheriff Estates Limited
Sheriff Estates Limited is a fellow subsidiary undertaking of the company.
At 31 October 2022 the company was owed £66,130 (2021 £47,572) by Sheriff Estates Limited.
The balance is unsecured, interest free and repayable upon demand.
10
Controlling party
The parent undertaking of the company Is Trinity Holdings (East Midlands) Limited.
The ultimate parent undertaking is Trinity Securities (International) Limited, a company incorporated in Gibraltar.
The ultimate controlling party is the director Mr P Herzberg.
The Registered Office for both companies is:
Unit C17 Kestrel Business Centre
Colwick Industrial Estate
Nottingham
NG4 2JR
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