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REGISTERED NUMBER: 04764900 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

GENIUS BOARDS LIMITED

GENIUS BOARDS LIMITED (REGISTERED NUMBER: 04764900)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Report of the Accountants 2

Balance Sheet 3

Notes to the Financial Statements 5


GENIUS BOARDS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: S L Constancon





REGISTERED OFFICE: Ground Floor Marlborough House
298 Regents Park Road
London
London
N3 2SZ





REGISTERED NUMBER: 04764900 (England and Wales)





ACCOUNTANTS: Fusion Accountancy Limited
Marlborough House
298 Regents Park Road
London
N3 2SZ

GENIUS BOARDS LIMITED

REPORT OF THE ACCOUNTANTS TO THE DIRECTOR OF
GENIUS BOARDS LIMITED

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In accordance with the engagement letter, and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.

This report is made to the director in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the director the financial statements that we have been engaged to compile, to report to the director that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's director for our work or for this report.

You have acknowledged on the balance sheet as at year ended 31 May 2024 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.

We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.






Fusion Accountancy Limited
Marlborough House
298 Regents Park Road
London
N3 2SZ


30 October 2024

GENIUS BOARDS LIMITED (REGISTERED NUMBER: 04764900)

BALANCE SHEET
31 MAY 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 3,705 6,794
3,705 6,794

CURRENT ASSETS
Debtors 6 67,283 17,580
Cash at bank 4 4
67,287 17,584
CREDITORS
Amounts falling due within one year 7 233,002 215,744
NET CURRENT LIABILITIES (165,715 ) (198,160 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(162,010

)

(191,366

)

CREDITORS
Amounts falling due after more than
one year

8

1,961,169

1,931,615
NET LIABILITIES (2,123,179 ) (2,122,981 )

GENIUS BOARDS LIMITED (REGISTERED NUMBER: 04764900)

BALANCE SHEET - continued
31 MAY 2024

31.5.24 31.5.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings 10 (2,123,180 ) (2,122,982 )
SHAREHOLDERS' FUNDS (2,123,179 ) (2,122,981 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

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 30 October 2024 and were signed by:





S L Constancon - Director


GENIUS BOARDS LIMITED (REGISTERED NUMBER: 04764900)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Genius Boards 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures & Fittings 20% on cost
Computer Equipment 33.33% on cost

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.

GENIUS BOARDS LIMITED (REGISTERED NUMBER: 04764900)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

2. ACCOUNTING POLICIES - continued

Going concern disclosure
The directors have formed a judgement at the time of approving the Annual Financial Statements, that there is a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason the directors have adopted the going concern basis in preparing the accounts.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 7,718
AMORTISATION
At 1 June 2023
and 31 May 2024 7,718
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

GENIUS BOARDS LIMITED (REGISTERED NUMBER: 04764900)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 June 2023
and 31 May 2024 27,297 47,290 74,587
DEPRECIATION
At 1 June 2023 20,555 47,238 67,793
Charge for year 3,037 52 3,089
At 31 May 2024 23,592 47,290 70,882
NET BOOK VALUE
At 31 May 2024 3,705 - 3,705
At 31 May 2023 6,742 52 6,794

6. DEBTORS
31.5.24 31.5.23
£    £   
Amounts falling due within one year:
Trade debtors 36,035 50
VAT - 3,459
Prepayments 5,309 10,036
41,344 13,545

Amounts falling due after more than one year:
Amounts owed by group undertakings 25,939 4,035

Aggregate amounts 67,283 17,580

GENIUS BOARDS LIMITED (REGISTERED NUMBER: 04764900)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 19,759 19,665
Trade creditors 8,407 10,651
Amounts owed to group undertakings 183,023 172,420
VAT 2,820 -
Credit Card 5,769 -
Bounce back loan - due <1 year 2,817 3,273
RLS -short term portion 8,333 8,333
Accrued expenses 2,074 1,402
233,002 215,744

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE
THAN ONE YEAR
31.5.24 31.5.23
£    £   
Amounts owed to participating interests 1,774,969 1,774,969
Other creditors 49,000 49,000
Bounce back loan - due 1-2 yea 3,317 3,317
Bounce back loan - due 2-5 yea 9,951 9,951
Bounce back loan - due >5 year 2,612 4,969
RLS Long term portion 25,000 33,333
Directors' loan accounts 96,320 56,076
1,961,169 1,931,615

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
1 Ordinary 1 1 1

GENIUS BOARDS LIMITED (REGISTERED NUMBER: 04764900)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

10. RESERVES
Retained
earnings
£   

At 1 June 2023 (2,122,982 )
Deficit for the year (198 )
At 31 May 2024 (2,123,180 )

11. RELATED PARTY DISCLOSURES

At the balance sheet date, included within creditors due within one year, are amounts owed by the company to related parties:
Constancon Currencies Limited: £3,656 (2023: £872)
Valufin Limited: £183,023 (2023: £172,420)

At the balance sheet date, included within creditors due in more than one year, is an amount owed by the company to a related party:
Complysoft Holdings Limited: £1,774,969 (2023: £1,774,969)

At the balance sheet date, included within debtors due within one year, is an amount owed to the company by a related party:
Genius Method Limited: £29,595 (2023: £4,908)


Included under the non-current other creditors is an amount owed to the director of £96,320 (2023:£56,076).

The controlling party is the company director by virtue of their shareholding.

12. TAXATION

The company has carried forward losses of £2,184,236 (2023: £2,187,397) which it can use against future taxable profits.