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REGISTERED NUMBER: 07281226 (England and Wales)




















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

GENUS CARE LTD

GENUS CARE LTD (REGISTERED NUMBER: 07281226)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


GENUS CARE LTD

COMPANY INFORMATION
for the Year Ended 30 June 2023







DIRECTORS: Mr G P Hemming
Mr M J S Khan





REGISTERED OFFICE: The Cross Keys Hotel
Old Road
Skewen
Neath Port Talbot
SA10 6AR





REGISTERED NUMBER: 07281226 (England and Wales)





ACCOUNTANTS: L M Griffiths & Co Limited
Chartered Certified Accountants
1&2 Merlins Court
Winch Lane
Haverfordwest
Pembrokeshire
SA61 1SB

GENUS CARE LTD (REGISTERED NUMBER: 07281226)

STATEMENT OF FINANCIAL POSITION
30 June 2023

2023 2022
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 2,896,971 1,801,819

CURRENT ASSETS
Debtors 5 255,751 155,197
Cash at bank and in hand 5,756 81,532
261,507 236,729
CREDITORS
Amounts falling due within one year 6 (427,508 ) (222,398 )
NET CURRENT (LIABILITIES)/ASSETS (166,001 ) 14,331
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,730,970

1,816,150

CREDITORS
Amounts falling due after more than one year 7 (2,132,392 ) (1,109,655 )
NET ASSETS 598,578 706,495

CAPITAL AND RESERVES
Called up share capital 92 96
Retained earnings 598,486 706,399
SHAREHOLDERS' FUNDS 598,578 706,495

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

GENUS CARE LTD (REGISTERED NUMBER: 07281226)

STATEMENT OF FINANCIAL POSITION - continued
30 June 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 March 2024 and were signed on its behalf by:




Mr M J S Khan - Director



Mr G P Hemming - Director


GENUS CARE LTD (REGISTERED NUMBER: 07281226)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Genus Care 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.

The financial statements have been prepared in accordance with the Companies Act 2006. The directors are not aware of any material uncertainties in making their assessment of going concern. As a result the going concern basis of accounting has been adopted.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Assets are measured using the historic cost model at cost less accumulated depreciation less accumulated impairment losses.

The depreciable amount of an asset is calculated as cost less residual value.

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.

Income recognition
The company recognises income as soon as an obligation arises to provide supplies, and an invoice raised and sent.

Impairment of property, plant and equipment
At each year end, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that they have suffered an impairment loss.

If the recoverable amount of an asset is estimated to be less than its carrying amount, its value in the accounts is reduced to its recoverable amount. An impairment loss is recognised immediately in the income statement.

GENUS CARE LTD (REGISTERED NUMBER: 07281226)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 63 (2022 - 62 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 July 2022 1,565,058 197,523 161,512
Additions 1,071,698 63,714 17,952
At 30 June 2023 2,636,756 261,237 179,464
DEPRECIATION
At 1 July 2022 - 93,654 114,269
Charge for year - 33,146 13,039
At 30 June 2023 - 126,800 127,308
NET BOOK VALUE
At 30 June 2023 2,636,756 134,437 52,156
At 30 June 2022 1,565,058 103,869 47,243

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 July 2022 121,097 64,713 56,451 2,166,354
Additions 5,427 3,000 4,295 1,166,086
At 30 June 2023 126,524 67,713 60,746 3,332,440
DEPRECIATION
At 1 July 2022 85,401 30,437 40,774 364,535
Charge for year 8,224 9,319 7,206 70,934
At 30 June 2023 93,625 39,756 47,980 435,469
NET BOOK VALUE
At 30 June 2023 32,899 27,957 12,766 2,896,971
At 30 June 2022 35,696 34,276 15,677 1,801,819

GENUS CARE LTD (REGISTERED NUMBER: 07281226)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 254,873 154,994
Other debtors 878 203
255,751 155,197

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 172,607 39,395
Taxation and social security 181,306 142,666
Other creditors 73,595 40,337
427,508 222,398

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 2,132,392 1,109,655

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,476,107 914,656

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits due from / (owed to) directors subsisted during the years ended 30 June 2023 and 30 June 2022:

2023 2022
£    £   
Mr G P Hemming
Balance outstanding at start of year (2,307 ) 10,318
Amounts advanced 75,792 91,895
Amounts repaid (78,270 ) (104,520 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (4,785 ) (2,307 )

GENUS CARE LTD (REGISTERED NUMBER: 07281226)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2023

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mr M J S Khan
Balance outstanding at start of year (14,400 ) 6,542
Amounts advanced 75,603 83,578
Amounts repaid (78,270 ) (104,520 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (17,067 ) (14,400 )

9. DEPRECIATION OF FREEHOLD PROPERTIES

Freehold properties held by the company are shown at historic cost. An annual review of current estimated market prices is carried out in order to ascertain likely residual value. Where this exceeds cost, no depreciation is provided since there is no depreciable amount under the company's stated depreciation policy. Where cost exceeds estimated market value, it is the policy to make an adjustment for impairment. For the above reasons, there is no depreciation expense shown in the financial statements.