Acorah Software Products - Accounts Production 16.1.300 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 SC631344 Mr James Davidson Mr Matthew Hall iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC631344 2023-03-31 SC631344 2024-03-31 SC631344 2023-04-01 2024-03-31 SC631344 frs-core:Non-currentFinancialInstruments 2024-03-31 SC631344 frs-core:ComputerEquipment 2023-04-01 2024-03-31 SC631344 frs-core:PlantMachinery 2023-04-01 2024-03-31 SC631344 frs-core:ShareCapital 2024-03-31 SC631344 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 SC631344 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC631344 frs-bus:AbridgedAccounts 2023-04-01 2024-03-31 SC631344 frs-bus:SmallEntities 2023-04-01 2024-03-31 SC631344 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 SC631344 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 SC631344 frs-bus:Director1 2023-04-01 2024-03-31 SC631344 frs-bus:Director2 2023-04-01 2024-03-31 SC631344 frs-countries:Scotland 2023-04-01 2024-03-31 SC631344 2022-03-31 SC631344 2023-03-31 SC631344 2022-04-01 2023-03-31 SC631344 frs-core:Non-currentFinancialInstruments 2023-03-31 SC631344 frs-core:ShareCapital 2023-03-31 SC631344 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: SC631344
Genista Energy Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—5
Page 1
Abridged Balance Sheet
Registered number: SC631344
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 50,192 61
50,192 61
CURRENT ASSETS
Debtors 525 497
Cash at bank and in hand 49,436 17,788
49,961 18,285
Creditors: Amounts Falling Due Within One Year (96,888 ) (49,853 )
NET CURRENT ASSETS (LIABILITIES) (46,927 ) (31,568 )
TOTAL ASSETS LESS CURRENT LIABILITIES 3,265 (31,507 )
Creditors: Amounts Falling Due After More Than One Year (58,751 ) (11,333 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (24 ) (24 )
NET LIABILITIES (55,510 ) (42,864 )
CAPITAL AND RESERVES
Called up share capital 5 10 10
Profit and Loss Account (55,520 ) (42,874 )
SHAREHOLDERS' FUNDS (55,510) (42,864)
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For the year ending 31 March 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 March 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr James Davidson
Director
Mr Matthew Hall
Director
20 February 2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Abridged Financial Statements
1. General Information
Genista Energy Limited is a private company, limited by shares, incorporated in Scotland, registered number SC631344 . The registered office is Blackwood House, Union Grove Lane, Aberdeen, AB10 6XU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost basis, as modified by the revaluaton of certain financial assets and liabilities and investment properties measured at fair value through profit or loss, and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the entity.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% reducing balance
Computer Equipment 33 1/3% reducing balance
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.5. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
2.6. Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
2.7. Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
2.8. Research and development
Expenditure on research is written off against profits in the year in which it is incurred. Development expenditure is capitalised and written off over its useful life.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
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4. Tangible Assets
Total
£
Cost
As at 1 April 2023 285
Additions 62,689
As at 31 March 2024 62,974
Depreciation
As at 1 April 2023 224
Provided during the period 12,558
As at 31 March 2024 12,782
Net Book Value
As at 31 March 2024 50,192
As at 1 April 2023 61
5. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10 10
6. Going Concern
The company balance sheet is in deficit at the year end due to the time and effort invested in the research and development of the companies products. The company is expected to return to profitability in the next twelve months.
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