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REGISTERED NUMBER: 09443513 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

GENESIS PROPERTY INVESTMENTS LTD

GENESIS PROPERTY INVESTMENTS LTD (REGISTERED NUMBER: 09443513)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


GENESIS PROPERTY INVESTMENTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: A Matyas





REGISTERED OFFICE: 24 St. Andrew's Grove
London
N16 5NE





REGISTERED NUMBER: 09443513 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

GENESIS PROPERTY INVESTMENTS LTD (REGISTERED NUMBER: 09443513)

STATEMENT OF FINANCIAL POSITION
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £   
FIXED ASSETS
Investment property 4 1,720,450 1,727,109

CURRENT ASSETS
Debtors 5 35,761 39,480
Cash at bank 7,579 6,121
43,340 45,601
CREDITORS
Amounts falling due within one year 6 (473,360 ) (473,299 )
NET CURRENT LIABILITIES (430,020 ) (427,698 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,290,430

1,299,411

CREDITORS
Amounts falling due after more than one
year

7

(1,202,614

)

(1,204,352

)
NET ASSETS 87,816 95,059

CAPITAL AND RESERVES
Called up share capital 8 100 100
Revaluation reserve 9 134,741 134,741
Retained earnings 9 (47,025 ) (39,782 )
SHAREHOLDERS' FUNDS 87,816 95,059

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 PROPERTY INVESTMENTS LTD (REGISTERED NUMBER: 09443513)

STATEMENT OF FINANCIAL POSITION - continued
29 FEBRUARY 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 November 2024 and were signed by:





A Matyas - Director


GENESIS PROPERTY INVESTMENTS LTD (REGISTERED NUMBER: 09443513)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Genesis Property Investments 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover represents net rent receivable, excluding value added tax.

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.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023
and 29 February 2024 1,727,109
DEPRECIATION
Reclassification/transfer 6,659
At 29 February 2024 6,659
NET BOOK VALUE
At 29 February 2024 1,720,450
At 28 February 2023 1,727,109

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2017 64,741
Valuation in 2020 70,000
Valuation in 2021 827,852
Valuation in 2022 764,516
1,727,109

GENESIS PROPERTY INVESTMENTS LTD (REGISTERED NUMBER: 09443513)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Other debtors 35,761 39,480

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Other creditors 472,640 472,639
Accrued expenses 720 660
473,360 473,299

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans more 5 yr by instal 59,516 61,254
Bank loans more 5 yrs non-inst 1,143,098 1,143,098
1,202,614 1,204,352

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 1,143,098 1,143,098

Repayable by instalments
Bank loans more 5 yr by instal 59,516 61,254

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
100 Ordinary £1 100 100

9. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 March 2023 (39,782 ) 134,741 94,959
Deficit for the year (7,243 ) (7,243 )
At 29 February 2024 (47,025 ) 134,741 87,716

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A Matyas.