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REGISTERED NUMBER: 04157489 (England and Wales)













Unaudited Financial Statements for the Year Ended 29 February 2024

for

Genex UK Limited

Genex UK Limited (Registered number: 04157489)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Genex UK Limited

Company Information
for the Year Ended 29 February 2024







DIRECTOR: M T Beese





SECRETARY: C Beese





REGISTERED OFFICE: Fryers Road
Leamore Industrial Estate
Walsall
West Midlands
WS2 7NA





REGISTERED NUMBER: 04157489 (England and Wales)





ACCOUNTANTS: Wilkes Tranter & Co Limited
Brook House
Moss Grove
Kingswinford
West Midlands
DY6 9HS

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Genex UK 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 Director's Report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Genex UK Limited for the year ended 29 February 2024 which comprise the Profit and Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Genex UK Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Genex UK Limited and state those matters that we have agreed to state to the director of Genex UK Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Genex UK Limited and its director for our work or for this report.

It is your duty to ensure that Genex UK Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Genex UK Limited. You consider that Genex UK Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Genex UK Limited. 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 statutory financial statements.






Wilkes Tranter & Co Limited
Brook House
Moss Grove
Kingswinford
West Midlands
DY6 9HS


19 November 2024

Genex UK Limited (Registered number: 04157489)

Balance Sheet
29 February 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 177,135 179,496

CURRENT ASSETS
Stocks 229,077 295,376
Debtors 5 337,879 331,204
Cash at bank and in hand 5,988 96,304
572,944 722,884
CREDITORS
Amounts falling due within one year 6 (338,459 ) (292,164 )
NET CURRENT ASSETS 234,485 430,720
TOTAL ASSETS LESS CURRENT
LIABILITIES

411,620

610,216

CREDITORS
Amounts falling due after more than one
year

7

(52,500

)

(94,500

)
NET ASSETS 359,120 515,716

CAPITAL AND RESERVES
Called up share capital 20,004 20,004
Capital redemption reserve 10,000 10,000
Retained earnings 329,116 485,712
SHAREHOLDERS' FUNDS 359,120 515,716

Genex UK Limited (Registered number: 04157489)

Balance Sheet - continued
29 February 2024


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.

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 director and authorised for issue on 19 November 2024 and were signed by:





M T Beese - Director


Genex UK Limited (Registered number: 04157489)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Genex UK 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on straight line
Fixtures, fittings & equipment - 15% on reducing balance
Motor vehicles - 25% on straight line
Computer equipment - 33% on straight line

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Genex UK Limited (Registered number: 04157489)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 18 ) .

4. TANGIBLE FIXED ASSETS
Fixtures,
Plant and fittings Motor Computer
machinery & equipment vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2023 399,353 49,835 31,494 74,380 555,062
Additions 23,868 1,849 - 3,892 29,609
At 29 February 2024 423,221 51,684 31,494 78,272 584,671
DEPRECIATION
At 1 March 2023 249,330 34,515 21,915 69,806 375,566
Charge for year 23,529 2,523 2,395 3,523 31,970
At 29 February 2024 272,859 37,038 24,310 73,329 407,536
NET BOOK VALUE
At 29 February 2024 150,362 14,646 7,184 4,943 177,135
At 28 February 2023 150,023 15,320 9,579 4,574 179,496

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 259,929 255,298
Other debtors 77,950 75,906
337,879 331,204

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 133,837 130,261
Taxation and social security 54,177 64,568
Other creditors 150,445 97,335
338,459 292,164

Genex UK Limited (Registered number: 04157489)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 52,500 94,500

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Loans due within one year 96,431 138,631

The factoring loan is secured by a fixed and floating charge over the company's assets concerned.

The other loans are secured by guarantees over the company's assets concerned.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the company made a loan to the director M Beese. The loan was unsecured and repayable on demand. The maximum amount outstanding during the year was £42,758. Interest was charged at the official rate of interest. The amount outstanding at 29 February 2024 was £42,758 (2023 - £33,630).