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REGISTERED NUMBER: 04594911 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Gencia Financial Services Limited

Gencia Financial Services Limited (Registered number: 04594911)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Gencia Financial Services Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mr J A Kershaw
Mr G J Kershaw





SECRETARY: Mr G J Kershaw





REGISTERED OFFICE: 2 Heap Bridge
Heywood
Busy
BL9 7HR





REGISTERED NUMBER: 04594911 (England and Wales)





ACCOUNTANTS: SKS Bailey Group Limited
2 Heap Bridge
Bury
BL9 7HR

Gencia Financial Services Limited (Registered number: 04594911)

Balance Sheet
31 March 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 5 750 -

CURRENT ASSETS
Debtors 6 5,209 1,074
Cash at bank 136,549 147,827
141,758 148,901
CREDITORS
Amounts falling due within one year 7 (31,426 ) (25,130 )
NET CURRENT ASSETS 110,332 123,771
TOTAL ASSETS LESS CURRENT
LIABILITIES

111,082

123,771

CREDITORS
Amounts falling due after more than one
year

8

(26,250

)

(35,250

)
NET ASSETS 84,832 88,521

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 84,830 88,519
SHAREHOLDERS' FUNDS 84,832 88,521

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

Gencia Financial Services Limited (Registered number: 04594911)

Balance Sheet - continued
31 March 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 November 2023 and were signed on its behalf by:





Mr J A Kershaw - Director


Gencia Financial Services Limited (Registered number: 04594911)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Gencia Financial Services Limited 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. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

REVENUE RECOGNITION
Turnover comprises commission receivable. Turnover is attributable to one continuing activity.
There were no exports in the year.

DEPRECIATION
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 33% on cost, 25% on cost and 15% on cost

TAXATION
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

COMMISSIONS
Commission income is accounted for on a receivable basis and commission expenditure on a payable basis.

TANGIBLE ASSETS
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Gencia Financial Services Limited (Registered number: 04594911)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 4,715
Additions 1,000
At 31 March 2023 5,715
DEPRECIATION
At 1 April 2022 4,715
Charge for year 250
At 31 March 2023 4,965
NET BOOK VALUE
At 31 March 2023 750

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 4,533 459
Other debtors 676 615
5,209 1,074

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,000 9,000
Taxation and social security 19,288 12,780
Other creditors 3,138 3,350
31,426 25,130

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 26,250 35,250

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 17,250 35,250

Gencia Financial Services Limited (Registered number: 04594911)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the directors entered into the following advances and credits with the company:
2023


Balance brought forward
Advances/ (credits) to
the directors
Balance
outstanding
£££
J. A. Kershaw(1,550)341(1,209)
2022


Balance brought forward
Advances/ (credits) to
the directors
Balance
outstanding
£££
J. A. Kershaw(13,542)11,992(1,550)