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REGISTERED NUMBER: 09394001 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

Genesis Ai Ltd

Genesis Ai Ltd (Registered number: 09394001)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Genesis Ai Ltd

Company Information
for the Year Ended 31 January 2024







DIRECTORS: K B Kotecha
C B Kotecha





REGISTERED OFFICE: Park House
18A Meridian East
Meridian Business Park
Leicester
Leicestershire
LE19 1WZ





REGISTERED NUMBER: 09394001 (England and Wales)





ACCOUNTANTS: torr waterfield
Park House
37 Clarence Street
Leicester
Leicestershire
LE1 3RW

Genesis Ai Ltd (Registered number: 09394001)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 - -
Investments 5 9,623 6,811
Investment property 6 569,900 724,900
579,523 731,711

CURRENT ASSETS
Debtors 7 5,378 971
Cash at bank and in hand 14,760 6,294
20,138 7,265
CREDITORS
Amounts falling due within one year 8 (282,128 ) (444,557 )
NET CURRENT LIABILITIES (261,990 ) (437,292 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

317,533

294,419

PROVISIONS FOR LIABILITIES (25,177 ) (35,294 )
NET ASSETS 292,356 259,125

CAPITAL AND RESERVES
Called up share capital 5,100 5,100
Fair value reserve 89,123 135,647
Retained earnings 198,133 118,378
292,356 259,125

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

Genesis Ai Ltd (Registered number: 09394001)

Balance Sheet - continued
31 January 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 October 2024 and were signed on its behalf by:





C B Kotecha - Director


Genesis Ai Ltd (Registered number: 09394001)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Genesis Ai 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 as modified by the revaluation of certain assets.

The financial statements have been prepared on the going concern basis which assumes the company will continue to trade. This depends on the ability of the directors to maintain the necessary financial support.

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.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from
changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Fixed asset investments
Fixed asset investments are shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

3. EMPLOYEES AND DIRECTORS

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

Genesis Ai Ltd (Registered number: 09394001)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 45,950
Disposals (45,950 )
At 31 January 2024 -
NET BOOK VALUE
At 31 January 2024 -

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 February 2023 6,811
Additions 1
Revaluations 2,811
At 31 January 2024 9,623
NET BOOK VALUE
At 31 January 2024 9,623
At 31 January 2023 6,811



6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023 724,900
Disposals (155,000 )
At 31 January 2024 569,900
NET BOOK VALUE
At 31 January 2024 569,900
At 31 January 2023 724,900

The directors consider the fair value of investment property at the year end to be £569,900 (2023 - £724,900). Valuations of investment property have been made on an open market value for existing use basis.

Genesis Ai Ltd (Registered number: 09394001)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors - 668
Other debtors 5,378 303
5,378 971

Other debtors includes prepayments and accrued income of £378 (2023 - £303).

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade creditors 760 1,180
Taxation and social security 12,030 10,537
Other creditors 269,338 432,840
282,128 444,557

Other creditors includes accruals and deferred income of £1,446 (2023 - £1,206).