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REGISTERED NUMBER: 10619486 (England and Wales)


















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

GENOME PROPERTY LIMITED

GENOME PROPERTY LIMITED (REGISTERED NUMBER: 10619486)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GENOME PROPERTY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: N W Oliver
M A Oliver





REGISTERED OFFICE: Fulford House
Newbold Terrace
Leamington Spa
Warwickshire
CV32 4EA





REGISTERED NUMBER: 10619486 (England and Wales)





ACCOUNTANTS: TGFP
Chartered Accountants
Fulford House
Newbold Terrace
Leamington Spa
Warwickshire
CV32 4EA

GENOME PROPERTY LIMITED (REGISTERED NUMBER: 10619486)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,395 1,860
Investment property 5 261,888 261,888
263,283 263,748

CURRENT ASSETS
Debtors 6 - 110,000
Cash at bank 675 8,263
675 118,263
CREDITORS
Amounts falling due within one year 7 198,896 12,485
NET CURRENT (LIABILITIES)/ASSETS (198,221 ) 105,778
TOTAL ASSETS LESS CURRENT
LIABILITIES

65,062

369,526

CREDITORS
Amounts falling due after more than one
year

8

33,071

329,558
NET ASSETS 31,991 39,968

CAPITAL AND RESERVES
Called up and paid share capital 4 4
Retained earnings 31,987 39,964
31,991 39,968

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

GENOME PROPERTY LIMITED (REGISTERED NUMBER: 10619486)

BALANCE SHEET - continued
29 FEBRUARY 2024


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 Board of Directors and authorised for issue on 24 July 2024 and were signed on its behalf by:





N W Oliver - Director


GENOME PROPERTY LIMITED (REGISTERED NUMBER: 10619486)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024


1. STATUTORY INFORMATION

Genome Property 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,rebates, 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.
Fixtures and fittings - 25% on reducing balance

Investment property
Investment property is held at cost.

Financial instruments
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Taxation
Taxation for the year comprises current taxation. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current 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.

GENOME PROPERTY LIMITED (REGISTERED NUMBER: 10619486)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


2. ACCOUNTING POLICIES - continued

Going concern
The financial statements have been prepared on the going concern basis, on the understanding that the company will receive continued support from the directors for a period of at least 12 months from the date of these financial statements. The financial statements do not account for any adjustments that would be required if the company was unable to achieve these objectives.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023
and 29 February 2024 7,137
DEPRECIATION
At 1 March 2023 5,277
Charge for year 465
At 29 February 2024 5,742
NET BOOK VALUE
At 29 February 2024 1,395
At 28 February 2023 1,860

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023
and 29 February 2024 261,888
NET BOOK VALUE
At 29 February 2024 261,888
At 28 February 2023 261,888

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors - 110,000

GENOME PROPERTY LIMITED (REGISTERED NUMBER: 10619486)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 196,102 2,055
Trade creditors 103 493
Amounts owed to group undertakings 1,290 -
Taxation and social security 81 8,647
Other creditors 1,320 1,290
198,896 12,485

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 12,575 14,682
Other creditors 20,496 314,876
33,071 329,558

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Mortgage more than 5 yrs - 193,995

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Other loans - 193,995

The mortgages are secured against the directors personal assets.

10. RELATED PARTY DISCLOSURES

As at 29th February 2024 an amount of £1,290 (2023 - £nil) was due from a company under the control of a director.