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REGISTERED NUMBER: 10599187 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

GENICH LIMITED

GENICH LIMITED (REGISTERED NUMBER: 10599187)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


GENICH LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTORS: C J Donaldson
Miss G L Donaldson
Miss N M Donaldson





REGISTERED OFFICE: 1 Dartmouth Drive
Windle
St Helens
Merseyside
WA10 6BP





REGISTERED NUMBER: 10599187 (England and Wales)





ACCOUNTANTS: Fairhurst Accountants Ltd
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB

GENICH LIMITED (REGISTERED NUMBER: 10599187)

STATEMENT OF FINANCIAL POSITION
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 285,000 285,000

CURRENT ASSETS
Debtors 5 2,125 1,089
Cash at bank 18,960 26,625
21,085 27,714
CREDITORS
Amounts falling due within one year 6 207,221 221,981
NET CURRENT LIABILITIES (186,136 ) (194,267 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

98,864

90,733

PROVISIONS FOR LIABILITIES 16,343 16,343
NET ASSETS 82,521 74,390

CAPITAL AND RESERVES
Called up share capital 90 90
Fair value reserve 7 49,027 49,027
Retained earnings 7 33,404 25,273
82,521 74,390

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

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

GENICH LIMITED (REGISTERED NUMBER: 10599187)

STATEMENT OF FINANCIAL POSITION - continued
31 March 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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 December 2024 and were signed on its behalf by:





C J Donaldson - Director


GENICH LIMITED (REGISTERED NUMBER: 10599187)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Genich 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.

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.

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 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 April 2023
and 31 March 2024 285,000
NET BOOK VALUE
At 31 March 2024 285,000
At 31 March 2023 285,000

GENICH LIMITED (REGISTERED NUMBER: 10599187)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

4. INVESTMENT PROPERTY - continued

Cost or valuation at 31 March 2024 is represented by:
£   
Valuation in 2022 65,370
Cost 219,630
285,000

In the opinion of the directors, there has been no change in the market value of the properties and a revaluation has not therefore been carried out in the current year.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 1,900 900
Prepayments 225 189
2,125 1,089

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Tax 1,907 1,727
Directors' loan accounts 204,000 219,000
Accrued expenses 1,314 1,254
207,221 221,981

7. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 April 2023 25,273 49,027 74,300
Profit for the year 8,131 8,131
At 31 March 2024 33,404 49,027 82,431

8. ULTIMATE CONTROLLING PARTY

By virtue of their shareholdings, the directors control the company.