Geneyards Limited 12347822 false 2023-01-01 2024-03-31 2024-03-31 The principal activity of the company is Mixed farming Digita Accounts Production Advanced 6.30.9574.0 true true 12347822 2023-01-01 2024-03-31 12347822 2024-03-31 12347822 core:RetainedEarningsAccumulatedLosses 2024-03-31 12347822 core:ShareCapital 2024-03-31 12347822 core:CurrentFinancialInstruments 2024-03-31 12347822 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 12347822 core:OtherResidualIntangibleAssets 2024-03-31 12347822 core:FurnitureFittingsToolsEquipment 2024-03-31 12347822 core:LandBuildings 2024-03-31 12347822 core:MotorVehicles 2024-03-31 12347822 core:OtherPropertyPlantEquipment 2024-03-31 12347822 bus:SmallEntities 2023-01-01 2024-03-31 12347822 bus:AuditExemptWithAccountantsReport 2023-01-01 2024-03-31 12347822 bus:FilletedAccounts 2023-01-01 2024-03-31 12347822 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2024-03-31 12347822 bus:RegisteredOffice 2023-01-01 2024-03-31 12347822 bus:Director1 2023-01-01 2024-03-31 12347822 bus:PrivateLimitedCompanyLtd 2023-01-01 2024-03-31 12347822 core:IntangibleAssetsOtherThanGoodwill 2023-01-01 2024-03-31 12347822 core:OtherResidualIntangibleAssets 2023-01-01 2024-03-31 12347822 core:FurnitureFittingsToolsEquipment 2023-01-01 2024-03-31 12347822 core:LandBuildings 2023-01-01 2024-03-31 12347822 core:MotorCars 2023-01-01 2024-03-31 12347822 core:MotorVehicles 2023-01-01 2024-03-31 12347822 core:OtherPropertyPlantEquipment 2023-01-01 2024-03-31 12347822 core:PlantMachinery 2023-01-01 2024-03-31 12347822 countries:EnglandWales 2023-01-01 2024-03-31 12347822 2022-12-31 12347822 core:OtherResidualIntangibleAssets 2022-12-31 12347822 core:FurnitureFittingsToolsEquipment 2022-12-31 12347822 core:LandBuildings 2022-12-31 12347822 core:MotorVehicles 2022-12-31 12347822 core:OtherPropertyPlantEquipment 2022-12-31 12347822 2022-01-01 2022-12-31 12347822 2022-12-31 12347822 core:RetainedEarningsAccumulatedLosses 2022-12-31 12347822 core:ShareCapital 2022-12-31 12347822 core:CurrentFinancialInstruments 2022-12-31 12347822 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 12347822 core:OtherResidualIntangibleAssets 2022-12-31 12347822 core:FurnitureFittingsToolsEquipment 2022-12-31 12347822 core:LandBuildings 2022-12-31 12347822 core:MotorVehicles 2022-12-31 12347822 core:OtherPropertyPlantEquipment 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 12347822

Geneyards Limited

Unaudited Filleted Financial Statements

for the Period from 1 January 2023 to 31 March 2024

 

Geneyards Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Geneyards Limited

Company Information

Director

Mr P J Allman

Registered office

11c Oakmoore Court
Kingswood Road
Hampton Lovett
Droitwich
Worcs
WR9 0QH

Accountants

Ballards LLP
Chartered Accountants
Oakmoore Court
11c Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

 

Geneyards Limited

(Registration number: 12347822)
Balance Sheet as at 31 March 2024

Note

2024
£

2022
£

Fixed assets

 

Intangible assets

4

1,120

2,239

Tangible assets

5

229,768

218,100

 

230,888

220,339

Current assets

 

Stocks

6

138,500

165,441

Debtors

7

5,513

8,638

Cash at bank and in hand

 

3,084

3,626

 

147,097

177,705

Creditors: Amounts falling due within one year

8

(620,148)

(578,418)

Net current liabilities

 

(473,051)

(400,713)

Net liabilities

 

(242,163)

(180,374)

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(242,164)

(180,375)

Shareholders' deficit

 

(242,163)

(180,374)

For the financial period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 29 January 2025
 

.........................................
Mr P J Allman
Director

   
     
 

Geneyards Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
11c Oakmoore Court
Kingswood Road
Hampton Lovett
Droitwich
Worcs
WR9 0QH

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and equipment

15% reducing balance

Motor vehicles

15% reducing balance

Tractors

15% reducing balance

 

Geneyards Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 31 March 2024

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Basic Payment Entitlements

5 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2022 - 1).

 

Geneyards Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 31 March 2024

4

Intangible assets

RPA entitlements
£

Total
£

Cost or valuation

At 1 January 2023

5,597

5,597

At 31 March 2024

5,597

5,597

Amortisation

At 1 January 2023

3,358

3,358

Amortisation charge

1,119

1,119

At 31 March 2024

4,477

4,477

Carrying amount

At 31 March 2024

1,120

1,120

At 31 December 2022

2,239

2,239

5

Tangible assets

Land and buildings
£

Plant and equipment
£

Motor vehicles
 £

Tractors
£

Total
£

Cost or valuation

At 1 January 2023

107,847

81,762

20,650

56,300

266,559

Additions

9,250

27,165

-

-

36,415

At 31 March 2024

117,097

108,927

20,650

56,300

302,974

Depreciation

At 1 January 2023

-

23,713

4,622

20,124

48,459

Charge for the period

-

14,052

3,005

7,690

24,747

At 31 March 2024

-

37,765

7,627

27,814

73,206

Carrying amount

At 31 March 2024

117,097

71,162

13,023

28,486

229,768

At 31 December 2022

107,847

58,049

16,028

36,176

218,100

6

Stocks

2024
£

2022
£

Other inventories

138,500

165,441

 

Geneyards Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 31 March 2024

7

Debtors

Current

2024
£

2022
£

Other debtors

5,513

8,638

 

5,513

8,638

8

Creditors

Creditors: amounts falling due within one year

2024
£

2022
£

Due within one year

Trade creditors

12,526

13,745

Accruals and deferred income

-

13,515

Other creditors

607,622

551,158

620,148

578,418