Company Registration No. 15043094 (England and Wales)
GENETIX RESEARCH LTD
Unaudited accounts
for the period from 1 August 2023 to 31 August 2024
GENETIX RESEARCH LTD
Unaudited accounts
Contents
GENETIX RESEARCH LTD
Company Information
for the period from 1 August 2023 to 31 August 2024
Directors
Arun Jaitly
Karen Yarely Castro
Company Number
15043094 (England and Wales)
Registered Office
30 CHURCHILL PLACE
LONDON
E14 5RE
ENGLAND
Accountants
NRV Tax Ltd
Suites 12 & 13 Chantal House
13-17 High Beech Road
Loughton
IG10 4BN
GENETIX RESEARCH LTD
Statement of financial position
as at 31 August 2024
Cash at bank and in hand
119,560
Creditors: amounts falling due within one year
(936,932)
Net current liabilities
(49,022)
Called up share capital
10,000
Profit and loss account
845,444
Shareholders' funds
855,444
For the period ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 15 November 2024 and were signed on its behalf by
Arun Jaitly
Director
Company Registration No. 15043094
GENETIX RESEARCH LTD
Notes to the Accounts
for the period from 1 August 2023 to 31 August 2024
GENETIX RESEARCH LTD is a private company, limited by shares, registered in England and Wales, registration number 15043094. The registered office is 30 CHURCHILL PLACE, LONDON, E14 5RE, ENGLAND.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Straight-Line Depreciation
Computer equipment
20% Straight-Line Depreciation
Amortization has not been provided on intellectual property since its not a substantial amount.
Other operating income is the grant income received from Queen Mary University of London of £1,436,647
GENETIX RESEARCH LTD
Notes to the Accounts
for the period from 1 August 2023 to 31 August 2024
4
Intangible fixed assets
Other
Charge for the period
26,000
Breakdown of intangible assets:
5 year's lease of £130,000 (Amortized over 5 years)
Intellectual property £1,935
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Tangible fixed assets
Plant & machinery
Charge for the period
199,633
Amounts falling due within one year
Accrued income and prepayments
470,245
GENETIX RESEARCH LTD
Notes to the Accounts
for the period from 1 August 2023 to 31 August 2024
7
Creditors: amounts falling due within one year
2024
Taxes and social security
48,184
Loans from directors
836,817
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Average number of employees
During the period the average number of employees was 10.