BrightAccountsProduction v1.0.0 v1.0.0 2023-06-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is the generation of renewable energy. 7 February 2025 1 1 NI617153 2024-05-31 NI617153 2023-05-31 NI617153 2022-05-31 NI617153 2023-06-01 2024-05-31 NI617153 2022-06-01 2023-05-31 NI617153 uk-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 NI617153 uk-curr:PoundSterling 2023-06-01 2024-05-31 NI617153 uk-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 NI617153 uk-bus:FullAccounts 2023-06-01 2024-05-31 NI617153 uk-bus:Director1 2023-06-01 2024-05-31 NI617153 uk-bus:RegisteredOffice 2023-06-01 2024-05-31 NI617153 uk-bus:Agent1 2023-06-01 2024-05-31 NI617153 uk-core:ShareCapital 2024-05-31 NI617153 uk-core:ShareCapital 2023-05-31 NI617153 uk-core:SharePremium 2024-05-31 NI617153 uk-core:SharePremium 2023-05-31 NI617153 uk-core:RetainedEarningsAccumulatedLosses 2024-05-31 NI617153 uk-core:RetainedEarningsAccumulatedLosses 2023-05-31 NI617153 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-05-31 NI617153 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-05-31 NI617153 uk-bus:FRS102 2023-06-01 2024-05-31 NI617153 uk-core:CostValuation 2024-05-31 NI617153 uk-core:Subsidiary1 2023-06-01 2024-05-31 NI617153 uk-core:CurrentFinancialInstruments 2024-05-31 NI617153 uk-core:CurrentFinancialInstruments 2023-05-31 NI617153 uk-core:CurrentFinancialInstruments 2024-05-31 NI617153 uk-core:CurrentFinancialInstruments 2023-05-31 NI617153 uk-core:WithinOneYear 2024-05-31 NI617153 uk-core:WithinOneYear 2023-05-31 NI617153 uk-core:OtherMiscellaneousReserve 2023-05-31 NI617153 uk-core:OtherMiscellaneousReserve 2023-06-01 2024-05-31 NI617153 uk-core:AcceleratedTaxDepreciationDeferredTax 2024-05-31 NI617153 uk-core:TaxLossesCarry-forwardsDeferredTax 2024-05-31 NI617153 uk-core:OtherDeferredTax 2024-05-31 NI617153 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2024-05-31 NI617153 uk-core:OtherMiscellaneousReserve 2024-05-31 NI617153 2023-06-01 2024-05-31 NI617153 uk-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
Company Registration Number: NI617153
 
 
GEINI Limited
 
Unaudited Financial Statements
 
for the financial year ended 31 May 2024
GEINI Limited
Director and Other Information

 
Director Iain Lees
 
 
Company Registration Number NI617153
 
 
Registered Office 7 Glenmore Manor, Lisburn, County Antrim, BT27 4BZ
Northern Ireland
 
 
Business Address 7 Glenmore Manor
Lisburn
County Antrim
 
 
Accountants HCA Chartered Accountants Ltd
Chartered Accountants
12 Cromac Place
Belfast
Co. Antrim
BT7 2JB
Northern Ireland
 
 
Bankers Bank of Ireland
  4-8 High Street
  Belfast
  BT1 2BA



GEINI Limited
Company Registration Number: NI617153
Statement of Financial Position
as at 31 May 2024

2024 2023
Notes £ £
 
Non-Current Assets
Financial assets 5 100 100
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Current Assets
Debtors 6 206,866 154,066
Cash and cash equivalents 35 26
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206,901 154,092
───────── ─────────
Creditors: amounts falling due within one year 7 (316,260) (346,160)
───────── ─────────
Net Current Liabilities (109,359) (192,068)
───────── ─────────
Total Assets less Current Liabilities (109,259) (191,968)
 
Provisions for liabilities 9 145,991 166,668
───────── ─────────
Net Assets/(Liabilities) 36,732 (25,300)
═════════ ═════════
 
Capital and Reserves
Called up share capital 1,000 1,000
Share premium account 10 149,500 149,500
Retained earnings (113,768) (175,800)
───────── ─────────
Equity attributable to owners of the company 36,732 (25,300)
═════════ ═════════
 
The financial statements have been prepared 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 company has taken advantage of the exemption under section 444 not to file the Income Statement and Director's Report.
           
For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Director and authorised for issue on 7 February 2025
           
           
________________________________          
Iain Lees          
Director          
           



GEINI Limited
Notes to the Financial Statements
for the financial year ended 31 May 2024

   
1. General Information
 
GEINI Limited is a company limited by shares incorporated in Northern Ireland. 7 Glenmore Manor, Lisburn, County Antrim, BT27 4BZ, Northern Ireland is the registered office, which is also the principal place of business of the company. The nature of the company’s operations and its principal activities are set out in the Director's Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 May 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Consolidated accounts
The company is entitled to the exemption in Section 399 of the Companies Act 2006 from the obligation to prepare group accounts.
 
Financial assets
Investments held as fixed assets are stated at cost less provision for any permanent diminution in value. Income from other investments together with any related tax credit is recognised in the Income Statement in the year in which it is receivable.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Statement of Financial Position date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Income Statement.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
   
3. Going concern
 
The Directors believe that it is appropriate to prepare the company's financial statements on a going concern basis as current and future sources of funding are expected to be more than adequate for the company's needs, until such time as cash inflows from profitable trading exceed outflows. The Directors consider that no further disclosures relating to the company's ability to continue as a going concern need to be made in the financial statements. In assessing going concern, the Directors have paid particular attention to a period of not less than one year from the date of approval of the financial statements.
       
4. Employees
 
The average monthly number of employees, including director, during the financial year was 1, (2023 - 1).
 
  2024 2023
  Number Number
 
Directors 1 1
  ═════════ ═════════
       
5. Financial fixed assets
  Group and Total
  participating  
  interests/  
  joint ventures  
Investments £ £
Cost
 
At 31 May 2024 100 100
  ───────── ─────────
Net book value
At 31 May 2024 100 100
  ═════════ ═════════
At 31 May 2023 100 100
  ═════════ ═════════
 
The company has one wholly owned subsidiary, Cruckaclady Mountain Limited.

The group is exempt from preparing consolidated financial statements as it qualifies as a small group.

During the year AIB Group (UK) PLC held a fixed charge on the investments of GEINI Limited, being Cruckaclady Mountain Limited.
             
5.1. Holdings in related undertakings
The company holds 20% or more of the share capital of the following company:
 
  Country Nature   Details Proportion
  of of   of held by
Name incorporation and address of Registered Office business   investment company
 
Subsidiary undertaking
Cruckaclady Mountain Limited Northern Ireland Generation of renewable energy   Ordinary shares 100%
 
 
In the opinion of the director, the value to the company of the unlisted investments is not less than the book amount shown above.
       
6. Debtors 2024 2023
  £ £
 
Amounts owed by group undertakings 203,967 151,607
Other debtors 1,760 1,760
Taxation  (Note 8) 1,139 699
  ───────── ─────────
  206,866 154,066
  ═════════ ═════════
       
7. Creditors 2024 2023
Amounts falling due within one year £ £
 
Other Loans 155,000 165,000
Director's current account 156,860 176,760
Accruals 4,400 4,400
  ───────── ─────────
  316,260 346,160
  ═════════ ═════════
       
8. Taxation 2024 2023
  £ £
 
Debtors:
VAT 1,139 699
  ═════════ ═════════
         
9. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Losses Total Total
       
       
    2024 2023
  £ £ £
 
At financial year start (166,668) (166,668) (187,753)
Charged to profit and loss 20,677 20,677 21,085
  ───────── ───────── ─────────
At financial year end (145,991) (145,991) (166,668)
  ═════════ ═════════ ═════════
 
A deferred tax asset has been recognised as the directors anticipate that the company will be able to utilise the losses in future periods. Deferred tax has been recognised at a rate of 25%.
   
10. Reserves
 
Share Premium Reserve
 
The amount carried forward is the premium that arose from the issue of shares in 2013.
 
       
11. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 May 2024.
         
12. Related party transactions
 
Transactions and balances with group company:
 
Cruckaclady Mountain Limited
 
The company's subsidiary, Cruckaclady Mountain Limited owed a balance of £203,967  to the company at the year end (2023: £151,607).
   
13. Controlling interest
 
The controlling party of the company was the director, as he owned a majority of the share capital of the company.
   
14. Events After the End of the Reporting Period
 
There have been no significant events affecting the company since the financial year-end.