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REGISTERED NUMBER: SC322492 (Scotland)















Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Genesis RX 411 Ltd.

Genesis RX 411 Ltd. (Registered number: SC322492)






Contents of the Financial Statements
for the Year Ended 30 April 2024

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Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Genesis RX 411 Ltd.

Company Information
for the Year Ended 30 April 2024







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DIRECTOR: Mr G W Downie





SECRETARY: Ms K Pirie





REGISTERED OFFICE: Harris House
Memsie
Fraserburgh
Aberdeenshire
AB43 7AL





REGISTERED NUMBER: SC322492 (Scotland)





ACCOUNTANTS: SBP
Accountants
9 Carmelite Street
Banff
Aberdeenshire
AB45 1AF

Genesis RX 411 Ltd. (Registered number: SC322492)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
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FIXED ASSETS
Intangible assets 4 10,000 11,250
Tangible assets 5 15,270 11,303
25,270 22,553

CURRENT ASSETS
Debtors 6 1,481 2,624
Cash at bank 73,238 61,433
74,719 64,057
CREDITORS
Amounts falling due within one year 7 9,803 4,688
NET CURRENT ASSETS 64,916 59,369
TOTAL ASSETS LESS CURRENT
LIABILITIES

90,186

81,922

PROVISIONS FOR LIABILITIES 1,390 1,757
NET ASSETS 88,796 80,165

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 88,696 80,065
SHAREHOLDERS' FUNDS 88,796 80,165

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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 RX 411 Ltd. (Registered number: SC322492)

Balance Sheet - continued
30 April 2024

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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 10 September 2024 and were signed by:





Mr G W Downie - Director


Genesis RX 411 Ltd. (Registered number: SC322492)

Notes to the Financial Statements
for the Year Ended 30 April 2024
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1. STATUTORY INFORMATION

Genesis RX 411 Ltd. is a private company, limited by shares , registered in Scotland. 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 represents the amounts (excluding value added tax) derived from the provision of goods to customers. Revenue is recognised at the point of sale.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fishing vessel - 6.25% on cost
Marine equipment - 20% on reducing balance
Computer equipment - 33% on cost

Tangible fixed assets are included at cost less depreciation and impairment. The residual value is reassessed at the end of each accounting period.

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

3. EMPLOYEES AND DIRECTORS

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

Genesis RX 411 Ltd. (Registered number: SC322492)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024
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4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 May 2023
and 30 April 2024 12,500
AMORTISATION
At 1 May 2023 1,250
Charge for year 1,250
At 30 April 2024 2,500
NET BOOK VALUE
At 30 April 2024 10,000
At 30 April 2023 11,250

The intangible asset value comprises of a fishing licence.

5. TANGIBLE FIXED ASSETS
Fishing Marine Computer
vessel equipment equipment Totals
£    £    £    £   
COST
At 1 May 2023 45,000 40,766 476 86,242
Additions - 7,833 - 7,833
At 30 April 2024 45,000 48,599 476 94,075
DEPRECIATION
At 1 May 2023 45,000 29,597 342 74,939
Charge for year - 3,800 66 3,866
At 30 April 2024 45,000 33,397 408 78,805
NET BOOK VALUE
At 30 April 2024 - 15,202 68 15,270
At 30 April 2023 - 11,169 134 11,303

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
VAT 746 2,078
Prepayments 735 546
1,481 2,624

Genesis RX 411 Ltd. (Registered number: SC322492)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024
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7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade creditors 391 89
Tax 3,782 1,924
Directors' current accounts 4,267 1,034
Accrued expenses 1,363 1,641
9,803 4,688

8. ULTIMATE CONTROLLING PARTY

The controlling party is Mr G W Downie.