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REGISTERED NUMBER: 09443513 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

GENESIS PROPERTY INVESTMENTS LTD

GENESIS PROPERTY INVESTMENTS LTD (REGISTERED NUMBER: 09443513)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


GENESIS PROPERTY INVESTMENTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTOR: A Matyas





REGISTERED OFFICE: 24 St. Andrew's Grove
London
N16 5NE





REGISTERED NUMBER: 09443513 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

GENESIS PROPERTY INVESTMENTS LTD (REGISTERED NUMBER: 09443513)

STATEMENT OF FINANCIAL POSITION
28 FEBRUARY 2023

28.2.23 28.2.22
Notes £    £   
FIXED ASSETS
Investment property 4 1,727,109 1,727,109

CURRENT ASSETS
Debtors 5 39,480 40,539
Cash at bank 6,121 3,505
45,601 44,044
CREDITORS
Amounts falling due within one year 6 (473,299 ) (473,489 )
NET CURRENT LIABILITIES (427,698 ) (429,445 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,299,411

1,297,664

CREDITORS
Amounts falling due after more than one
year

7

(1,204,352

)

(1,206,035

)
NET ASSETS 95,059 91,629

CAPITAL AND RESERVES
Called up share capital 8 100 100
Revaluation reserve 9 134,741 134,741
Retained earnings 9 (39,782 ) (43,212 )
SHAREHOLDERS' FUNDS 95,059 91,629

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

GENESIS PROPERTY INVESTMENTS LTD (REGISTERED NUMBER: 09443513)

STATEMENT OF FINANCIAL POSITION - continued
28 FEBRUARY 2023


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 director and authorised for issue on 20 November 2023 and were signed by:





A Matyas - Director


GENESIS PROPERTY INVESTMENTS LTD (REGISTERED NUMBER: 09443513)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Genesis Property Investments 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.

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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net rent receivable, excluding value added tax.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2022
and 28 February 2023 1,727,109
NET BOOK VALUE
At 28 February 2023 1,727,109
At 28 February 2022 1,727,109

Fair value at 28 February 2023 is represented by:
£   
Valuation in 2017 64,741
Valuation in 2020 70,000
Valuation in 2021 827,852
Valuation in 2022 764,516
1,727,109

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Other debtors 39,480 40,539

GENESIS PROPERTY INVESTMENTS LTD (REGISTERED NUMBER: 09443513)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Other creditors 472,639 472,889
Accrued expenses 660 600
473,299 473,489

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Bank loans more 5 yr by instal 61,254 62,937
Bank loans more 5 yrs non-inst 1,143,098 1,143,098
1,204,352 1,206,035

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 1,143,098 1,143,098

Repayable by instalments
Bank loans more 5 yr by instal 61,254 62,937

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
100 Ordinary £1 100 100

9. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 March 2022 (43,212 ) 134,741 91,529
Profit for the year 3,430 3,430
At 28 February 2023 (39,782 ) 134,741 94,959

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A Matyas.