Company Registration No. 11943905 (England and Wales)
Genesis Portfolio Limited
Unaudited accounts
for the year ended 30 April 2024
Genesis Portfolio Limited
Unaudited accounts
Contents
Genesis Portfolio Limited
Company Information
for the year ended 30 April 2024
Directors
Luria Monteiro De Senna Fernandes
Nigel John Godden
Company Number
11943905 (England and Wales)
Registered Office
The Old Manor Chapelgate,
Gedney
Spalding
PE12 0BJ
United Kingdom
Genesis Portfolio Limited
Statement of financial position
as at 30 April 2024
Investment property
317,553
317,553
Cash at bank and in hand
2,966
3,706
Creditors: amounts falling due within one year
(385,747)
(372,905)
Net current liabilities
(382,781)
(368,799)
Total assets less current liabilities
(64,194)
(50,992)
Provisions for liabilities
Net liabilities
(64,243)
(51,041)
Called up share capital
100
100
Profit and loss account
(64,343)
(51,141)
Shareholders' funds
(64,243)
(51,041)
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 28 January 2025 and were signed on its behalf by
Luria Monteiro De Senna Fernandes
Director
Company Registration No. 11943905
Genesis Portfolio Limited
Notes to the Accounts
for the year ended 30 April 2024
Genesis Portfolio Limited is a private company, limited by shares, registered in England and Wales, registration number 11943905. The registered office is The Old Manor Chapelgate,, Gedney, Spalding, PE12 0BJ, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
33% on cost
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
The company’s investment property is measured at fair value in accordance with FRS 102, Section 16 – Investment Property. Fair value is determined at each reporting date based on the most recent market evidence available from independent valuers or other reliable sources. Changes in fair value are recognized in the Statement of Comprehensive Income.
Genesis Portfolio Limited
Notes to the Accounts
for the year ended 30 April 2024
4
Tangible fixed assets
Computer equipment
Fair value at 1 May 2023
317,553
As at 30 April 2024, the fair value of the investment property was £317 553, based on a director’s assessment using market data and comparable sales evidence.
The directors confirm that there were no material changes in the property’s condition or market conditions that would significantly affect its valuation as at the reporting date.
Amounts falling due within one year
Accrued income and prepayments
-
375
7
Creditors: amounts falling due within one year
2024
2023
Other creditors
6,160
6,160
Loans from directors
378,987
365,545
8
Average number of employees
During the year the average number of employees was 2 (2023: 2).