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Registered Number: 13418641


 

 

 

GENESIS SA LIMITED


Report of the Director and Unaudited Financial Statements
 


Period of accounts

Start date: 01 June 2023

End date: 31 December 2023
Director Eleazer Jegede
Registered Number 13418641
Registered Office 27 OLD GLOUCESTER STREET
LONDON ENGLAND
WC1N 3AX
Accountants Smith & Johnson


1
Director's report and financial statements
The director presents his/her/their annual report and the financial statements for the year ended 31 December 2023.
Principal activities
Principal activity of the company during the financial period was of ...
Director
The director who served the company throughout the period was as follows:
Eleazer Jegede
Statement of director's responsibilities
The director is responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the director is required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

On behalf of the board.


----------------------------------
Eleazer Jegede
Director

Date approved: 14 January 2025
2
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 December 2023 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Smith & Johnson
31 December 2023



....................................................

Smith & Johnson




14 January 2025
3
 
 
Notes
 
2023
£
  2023
£
Turnover 56,095    43,082 
Cost of sales (25,285)  
Gross profit 30,810    43,082 
Administrative expenses (9,621)   (28,536)
Other operating expenses (14,200)   (20,854)
Operating profit/(loss) 2 6,989    (6,308)
Interest payable and similar charges 4 (12,956)   (7,629)
Profit/(Loss) on ordinary activities before taxation (5,967)   (13,937)
Tax on profit on ordinary activities  
Profit/(Loss) for the financial period (5,967)   (13,937)
 
4
 
 
Notes
 
2023
£
  2023
£
Fixed assets      
Tangible fixed assets 5 311,695    315,468 
311,695    315,468 
Current assets      
Debtors 6 1,500    1,500 
Cash at bank and in hand 10,537    2,132 
12,037    3,632 
Creditors: amount falling due within one year 7 (150,021)   (140,686)
Net current assets (137,984)   (137,054)
 
Total assets less current liabilities 173,711    178,414 
Creditors: amount falling due after more than one year 8 (214,493)   (213,229)
Net assets (40,782)   (34,815)
 

Capital and reserves
     
Called up share capital 3    3 
Profit and loss account 9 (40,785)   (34,818)
Shareholders' funds (40,782)   (34,815)
 


For the period ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the director on 14 January 2025 and were signed by:


-------------------------------
Eleazer Jegede
Director
5
General Information
GENESIS SA LIMITED is a private company, limited by shares, registered in , registration number 13418641, registration address 27 OLD GLOUCESTER STREET, LONDON ENGLAND, WC1N 3AX.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 5 years Straight Line
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
2.

Operating profit/(loss)

2023
£
  2023
£
The operating profit/(loss) is stated after charging:

 
Depreciation of tangible fixed assets 3,773    3,988 

3.

Average number of employees

Average number of employees during the period was 2 (2023 : 2).
4.

Interest payable and similar charges

2023
£
  2023
£
Mortgage Interest 12,956    7,629 
12,956    7,629 

5.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Investment properties   Total
  £   £   £
At 01 June 2023 32,344    287,112    319,456 
Additions    
Disposals    
At 31 December 2023 32,344    287,112    319,456 
Depreciation
At 01 June 2023 3,988      3,988 
Charge for period 3,773      3,773 
On disposals    
At 31 December 2023 7,761      7,761 
Net book values
Closing balance as at 31 December 2023 24,583    287,112    311,695 
Opening balance as at 01 June 2023 28,356    287,112    315,468 


6.

Debtors: amounts falling due within one year

2023
£
  2023
£
Other Debtors 1,500    1,500 
1,500    1,500 

7.

Creditors: amount falling due within one year

2023
£
  2023
£
Bank Loans & Overdrafts 11,473    6,106 
Accrued Expenses 1,000    500 
Directors' Current Accounts 137,548    134,080 
150,021    140,686 

8.

Creditors: amount falling due after more than one year

2023
£
  2023
£
Bank Loans & Overdrafts 198,631    203,229 
Amounts Owed to Participating Interests 15,862    10,000 
214,493    213,229 

9.

Profit and loss account

  2023
£
Balance at 01 June 2023 (34,818)
Profit/Loss for the financial period (5,967)
Balance at 31 December 2023 (40,785)

6
  2023
£
  2023
£
Turnover          
Sales   56,095      43,082 
  56,095      43,082 
Cost of sales          
Laundry expense 6,412     
Cleaning expense 6,883     
Light, Power, and Heating 2,889     
Water 535     
Council tax 2,104     
Management Charges 6,462     
  (25,285)    
Gross profit   30,810      43,082 
Administrative expenses          
Accountancy Fees 500      500 
Legal and Professional Fees (Allowable) 497      4,559 
Rates & Water     350 
Light, Heat & Power     1,892 
Cleaning of Premises     8,947 
Use of Home as Office 364      624 
General Travel Expenses 110      489 
Bank Charges 1,665      1,339 
Depreciation Charge: Fixtures & Fittings 3,773      3,988 
Advertising     280 
General Insurance     2,121 
Computer Expenses 370      573 
Stationery & Postage 18      7 
Telephone, Fax & Internet 1,284      1,201 
Laundry Costs     803 
Donations 25     
Subscriptions 977      826 
Subsistence 38      37 
  (9,621)     (28,536)
Other operating expenses          
Repairs & Maintenance 14,200      20,854 
  (14,200)     (20,854)
Operating profit/(loss)   6,989      (6,308)
Interest payable and similar charges          
Mortgage Interest 12,956      7,629 
  (12,956)     (7,629)
Profit/(Loss) on ordinary activities before taxation   (5,967)     (13,937)
Profit/(Loss) for the financial period   (5,967)     (13,937)
 
7