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REGISTERED NUMBER: 05563089 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

GENMED CAPITAL MANAGEMENT LIMITED

GENMED CAPITAL MANAGEMENT LIMITED (REGISTERED NUMBER: 05563089)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GENMED CAPITAL MANAGEMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: R Modak
S Modak
J Modak
N Modak





SECRETARY: R Modak





REGISTERED OFFICE: 463 Wellington Road South
Hounslow
Middlesex
TW4 5HY





REGISTERED NUMBER: 05563089 (England and Wales)

GENMED CAPITAL MANAGEMENT LIMITED (REGISTERED NUMBER: 05563089)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 2,251,098 2,259,068
Investments 5 809,097 709,098
3,060,195 2,968,166

CURRENT ASSETS
Stocks 117,584 111,374
Debtors 6 1,932,739 1,768,495
Cash at bank 1,478,680 1,721,910
3,529,003 3,601,779
CREDITORS
Amounts falling due within one year 7 (99,060 ) (229,046 )
NET CURRENT ASSETS 3,429,943 3,372,733
TOTAL ASSETS LESS CURRENT LIABILITIES 6,490,138 6,340,899

PROVISIONS FOR LIABILITIES (25,336 ) (27,031 )
NET ASSETS 6,464,802 6,313,868

CAPITAL AND RESERVES
Called up share capital 8 900 900
Fair value reserve 147,498 147,498
Retained earnings 6,316,404 6,165,470
SHAREHOLDERS' FUNDS 6,464,802 6,313,868

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

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

GENMED CAPITAL MANAGEMENT LIMITED (REGISTERED NUMBER: 05563089)

BALANCE SHEET - continued
31 DECEMBER 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 September 2024 and were signed on its behalf by:





R Modak - Director


GENMED CAPITAL MANAGEMENT LIMITED (REGISTERED NUMBER: 05563089)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Genmed Capital Management 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 as modified by the revaluation of certain assets.

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.

Land and buildings No depreciation is charged
Fixtures, fitting and equipmentStraight line over 3 years, 5 years and 10 years.
Motor vehicles 25% on cost

The remaining useful economic life of freehold buildings is estimated to be greater than 50 years and therefore no depreciation is provided on the grounds that this would be immaterial. To ensure that the carrying amount of the freehold can be supported it shall be subjected to an impairment review at the end of each accounting period in accordance with Financial Reporting Standards.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


GENMED CAPITAL MANAGEMENT LIMITED (REGISTERED NUMBER: 05563089)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued
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
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce constant periodic rates of charge on the net obligations outstanding in each period.

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.

Group accounts
The company is entitled to the exemption under Section 398 of the Companies Act 2006 from the obligation to prepare group accounts.

Investments
Fixed asset investments are stated at cost less provisions for permanent diminution in value.

Investment property
The company's freehold investment properties are included in the fixed assets at their latest valuation plus subsequent additions at cost; surpluses and deficits on valuation are taken to revaluation reserve.

This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount might otherwise have been shown cannot be separately identified or qualified.

GENMED CAPITAL MANAGEMENT LIMITED (REGISTERED NUMBER: 05563089)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Trade debtors
Trade and other receivables are measured at transaction price less any impairment unless the arrangement constitutes a financing transaction in which case the transaction is measured at the present value of the future receipts discounted at the prevailing market rate of interest . Loans are initially measured at fair value and are subsequently measured at amortised cost using the effective interest method less any impairment.

Trade creditors
Trade and other payables are measured at their transaction price unless the arrangement constitutes a financing transaction in which case the transaction is measured at present value of future payments discounted at prevailing market rate of interest. Other financial liabilities are initially measured at fair value net of their transaction costs. They are subsequently measured at amortised cost using the effective interest method.

Cash at bank
Cash at bank in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

Employee benefits
The company recognises an accrual for accumulated annual leave accrued by employees as a result of services rendered in the current period for which employees can carry forward and use within the next year. The accrual is measured at the salary cost of the respective employee in relation to the period of absence.

Joint Venture
The company's share of a joint venture partnership's profit or loss is included in the profit and loss account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Fixtures,
fittings
Freehold Farm and
property equipment equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 January 2023
and 31 December 2023 2,224,089 23,430 425,518 2,673,037
DEPRECIATION
At 1 January 2023 - 8,694 405,275 413,969
Charge for year - 2,344 5,626 7,970
At 31 December 2023 - 11,038 410,901 421,939
NET BOOK VALUE
At 31 December 2023 2,224,089 12,392 14,617 2,251,098
At 31 December 2022 2,224,089 14,736 20,243 2,259,068

GENMED CAPITAL MANAGEMENT LIMITED (REGISTERED NUMBER: 05563089)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS - continued

Included within fixed assets and stock are assets for lease to third parties. Total cost of these assets is £1,585,020 (2022 : £1,582,020) with accumulated depreciation totalling £275,012 (2022 : £275,012).

Included within transactions related income is the total of rentals less direct costs for the leased assets amounting to £372,351 (2022 : £711,743).

The freehold properties are investment properties and were valued at the directors' valuation of fair value as at 31 December 2023.

Cost or valuation at 31 December 2023 is represented by:

Fixtures,
fittings
Freehold Farm and
property equipment equipment Totals
£    £    £    £   
Valuation in 2022 182,096 - - 182,096
Cost 2,041,993 23,430 425,518 2,490,941
2,224,089 23,430 425,518 2,673,037

5. FIXED ASSET INVESTMENTS
Interest
Shares in in other
group participating Other
undertakings interests investments Totals
£    £    £    £   
COST
At 1 January 2023 75 321,273 387,750 709,098
Additions - - 99,999 99,999
At 31 December 2023 75 321,273 487,749 809,097
NET BOOK VALUE
At 31 December 2023 75 321,273 487,749 809,097
At 31 December 2022 75 321,273 387,750 709,098

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiary

Knights-Modak Developments Limited
Registered office:
Nature of business: Property development
%
Class of shares: holding
Ordinary £1 shares 75.00
31.12.23 31.12.22
£    £   
Aggregate capital and reserves (150,366 ) (150,366 )

GENMED CAPITAL MANAGEMENT LIMITED (REGISTERED NUMBER: 05563089)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. FIXED ASSET INVESTMENTS - continued

Joint venture

The company has a 50% share in the Solomons Alpacas partnership. The company's partner capital account is included under debtors.

Associated company

Genmed Group Limited
Registered office: United Kingdom
Nature of business: Services provider
%
Class of shares: holding
Ordinary A shares 39.00
30.9.23 30.9.22
£    £   
Aggregate capital and reserves - 1,596,980
Loss for the year - (84,481 )

Details of the company's aggregate capital and reserves and net profit for the year ended 30 September 2023 were not available.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 205,250 225,716
Amounts owed by group undertakings 185,639 176,316
Amounts owed by participating interests 8,008 7,408
Other debtors 1,533,842 1,359,055
1,932,739 1,768,495

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 15,457 38,667
Taxation and social security 70,443 172,170
Other creditors 13,160 18,209
99,060 229,046

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
900 Ordinary £1 900 900

GENMED CAPITAL MANAGEMENT LIMITED (REGISTERED NUMBER: 05563089)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
R Modak
Balance outstanding at start of year - -
Amounts advanced 155,635 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 155,635 -

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is R Modak.