Year Ended
Registration number:
Gen3 Marketing UK Limited
Balance Sheet
31 December 2023
Note |
2023 |
2022 |
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Fixed assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
- |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
( |
( |
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Shareholders' deficit |
( |
( |
These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
......................................... |
Company Registration Number: 13085127
Gen3 Marketing UK Limited
Notes to the Financial Statements
Year Ended 31 December 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis. The directors acknowledge the company's net current liability and net liability positions at the balance sheet date. The director's have satisfied themselves on the validity of applying the going concern basis of preparation though as assurances have been received from the company's subsidiary company that financial support will be provided to ensure that the company can meet it's financial obligations as and when they fall due.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Gen3 Marketing UK Limited
Notes to the Financial Statements
Year Ended 31 December 2023
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Financial instruments
Classification
• Short term other debtors and creditors; and
• Cash balances.
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Gen3 Marketing UK Limited
Notes to the Financial Statements
Year Ended 31 December 2023
Investments |
2023 |
2022 |
|
Investments in subsidiaries |
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Subsidiaries |
£ |
Cost or valuation |
|
At 1 January 2023 |
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At 31 December 2023 |
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Provision |
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At 1 January 2023 |
- |
At 31 December 2023 |
- |
Carrying amount |
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At 31 December 2023 |
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At 31 December 2022 |
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Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2023 |
2022 |
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Subsidiary undertakings |
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C/o Francis Clark LLP
United Kingdom |
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Subsidiary undertakings |
UK Affiliate Management Limited The principal activity of UK Affiliate Management Limited is |
Gen3 Marketing UK Limited
Notes to the Financial Statements
Year Ended 31 December 2023
Debtors |
Note |
2023 |
2022 |
|
Amounts owed by group undertakings |
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Creditors |
Note |
2023 |
2022 |
|
Due within one year |
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Amounts owed to group undertakings |
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Accruals and deferred income |
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2023 |
2022 |
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Due after one year |
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Amounts owed to group undertakings |
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Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
|||
No. |
£ |
No. |
£ |
|
|
|
100 |
|
100 |
Audit report |
Gen3 Marketing UK Limited
Notes to the Financial Statements
Year Ended 31 December 2023
Relationship between entity and parents |
Relationship between entity and parents
The parent of the smallest group in which these financial statements are consolidated is
The address of Gen3 Marketing LLC is:
Suite 210
Blue Bell
Pennsylvania 19422
United States