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REGISTERED NUMBER: 04317835 (England and Wales)
























Financial Statements

for the Year Ended 31 December 2023

for

GENESIS RESIDENTIAL HOMES LTD

GENESIS RESIDENTIAL HOMES LTD (REGISTERED NUMBER: 04317835)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GENESIS RESIDENTIAL HOMES LTD

Company Information
for the year ended 31 December 2023







DIRECTOR: B Oozageer





SECRETARY: R Oozageer





REGISTERED OFFICE: 32 Furlong Way
Great Amwell
Ware
Hertfordshire
SG12 9TF





REGISTERED NUMBER: 04317835 (England and Wales)





AUDITORS: Trevor Jones & Partners Ltd
Statutory Auditor
Unit 14
Hoddesdon Enterprise Centre
Pindar Road
Hoddesdon
Hertfordshire
EN11 0FJ

GENESIS RESIDENTIAL HOMES LTD (REGISTERED NUMBER: 04317835)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 337,194 349,507

CURRENT ASSETS
Debtors 5 381,906 394,382
Cash at bank and in hand 58,255 52,263
440,161 446,645
CREDITORS
Amounts falling due within one year 6 62,544 100,533
NET CURRENT ASSETS 377,617 346,112
TOTAL ASSETS LESS CURRENT
LIABILITIES

714,811

695,619

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 713,811 694,619
SHAREHOLDERS' FUNDS 714,811 695,619

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 16 September 2024 and were signed by:





B Oozageer - Director


GENESIS RESIDENTIAL HOMES LTD (REGISTERED NUMBER: 04317835)

Notes to the Financial Statements
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Genesis Residential Homes 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.

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 total invoice value, excluding value added tax, of sales made during the year and derives from the provision of services falling within the company's ordinary activities.

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 - 2% on cost
Plant and machinery etc - 15% on reducing balance and Reducing balance over 3 years

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 19 (2022 - 17 ) .

GENESIS RESIDENTIAL HOMES LTD (REGISTERED NUMBER: 04317835)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 531,521 94,741 626,262
Additions - 2,831 2,831
At 31 December 2023 531,521 97,572 629,093
DEPRECIATION
At 1 January 2023 213,486 63,269 276,755
Charge for year 10,420 4,724 15,144
At 31 December 2023 223,906 67,993 291,899
NET BOOK VALUE
At 31 December 2023 307,615 29,579 337,194
At 31 December 2022 318,035 31,472 349,507

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 28,613 16,845
Amounts owed by group undertakings 328,364 288,364
Other debtors 24,929 89,173
381,906 394,382

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 43,392 60,207
Trade creditors 1 -
Taxation and social security 7,154 30,881
Other creditors 11,997 9,445
62,544 100,533

7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 43,392 60,207

GENESIS RESIDENTIAL HOMES LTD (REGISTERED NUMBER: 04317835)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Christopher James Whale (Senior Statutory Auditor)
for and on behalf of Trevor Jones & Partners Ltd

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

10. ULTIMATE PARENT UNDERTAKING

The company's ultimate holding company is Adonai Holdings Limited, a company of which the director, B. Oozageer, is a director and shareholder.