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REGISTERED NUMBER: 13063367 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

GENUSS LIMITED

GENUSS LIMITED (REGISTERED NUMBER: 13063367)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GENUSS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTOR: J S Dhaliwal





REGISTERED OFFICE: 49 Wolverhampton Road
Oldbury
West Midlands
B68 0NF





REGISTERED NUMBER: 13063367 (England and Wales)





ACCOUNTANTS: Ashcrofts Accountants Limited
2 Cedargrove
Hagley
Stourbridge
West Midlands
DY9 0DR

GENUSS LIMITED (REGISTERED NUMBER: 13063367)

BALANCE SHEET
31 DECEMBER 2022

2022 2021
Notes £    £   
FIXED ASSETS
Tangible assets 4 16,717 -

CURRENT ASSETS
Debtors 5 125,569 115,841
Cash at bank 178,323 118,519
303,892 234,360
CREDITORS
Amounts falling due within one year 6 (332,441 ) (372,165 )
NET CURRENT LIABILITIES (28,549 ) (137,805 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(11,832

)

(137,805

)

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 (11,932 ) (137,905 )
SHAREHOLDERS' FUNDS (11,832 ) (137,805 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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.

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 director and authorised for issue on 23 December 2023 and were signed by:





J S Dhaliwal - Director


GENUSS LIMITED (REGISTERED NUMBER: 13063367)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022


1. STATUTORY INFORMATION

Genuss 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. 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.

Taxation
Taxation for the year comprises current and deferred tax. 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 or deferred 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 2 (2021 - 1 ) .

GENUSS LIMITED (REGISTERED NUMBER: 13063367)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


4. TANGIBLE FIXED ASSETS
Fixtures,
fittings
& equipment
£   
COST
Additions 17,000
At 31 December 2022 17,000
DEPRECIATION
Charge for year 283
At 31 December 2022 283
NET BOOK VALUE
At 31 December 2022 16,717

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 86 -
Other debtors 98,904 32,340
VAT - 7,873
Deferred tax asset 2,456 33,371
Prepayments and accrued income 24,123 42,257
125,569 115,841

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 94,126 63,716
Social security and other taxes 1,125 -
VAT 14,898 -
Other creditors 100,127 100,000
Directors' loan accounts - 110,920
Accruals and deferred income 122,165 97,529
332,441 372,165

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2022 2021
£    £   
Between one and five years 103,467 162,848
In more than five years 88,848 -
192,315 162,848

GENUSS LIMITED (REGISTERED NUMBER: 13063367)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


8. DEFERRED TAX
£   
Balance at 1 January 2022 (33,371 )
Charged during the year 30,915
Balance at 31 December 2022 (2,456 )

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
45 Ordinary A £1 45 45
45 Ordinary B £1 45 45
10 Ordinary C £1 10 10
100 100

10. RESERVES
Retained
earnings
£   

At 1 January 2022 (137,905 )
Profit for the year 125,973
At 31 December 2022 (11,932 )

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At 31 December 2022 there was a loan from Mr J S Dhaliwal of £Nil (2021: £110,920). This unsecured loan is interest free and repayable on demand.