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REGISTERED NUMBER: 02703057 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Genesis Patterns Limited

Genesis Patterns Limited (Registered number: 02703057)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


Genesis Patterns Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: P Crawley
J Foster





REGISTERED OFFICE: Genesis House
Dockfield Road
Shipley
West Yorkshire
BD17 7AZ





REGISTERED NUMBER: 02703057 (England and Wales)





ACCOUNTANTS: DWilkinson&Company
Bank House
27 King Street
Leeds
West Yorkshire
LS1 2HL

Genesis Patterns Limited (Registered number: 02703057)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 464,180 471,729

CURRENT ASSETS
Stocks 15,000 28,910
Debtors 5 237,298 521,602
Cash at bank and in hand 228,081 122,171
480,379 672,683
CREDITORS
Amounts falling due within one year 6 245,151 258,214
NET CURRENT ASSETS 235,228 414,469
TOTAL ASSETS LESS CURRENT
LIABILITIES

699,408

886,198

CREDITORS
Amounts falling due after more than
one year

7

(10,934

)

(20,934

)

PROVISIONS FOR LIABILITIES 8 (116,003 ) (105,714 )
NET ASSETS 572,471 759,550

Genesis Patterns Limited (Registered number: 02703057)

Balance Sheet - continued
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 572,371 759,450
SHAREHOLDERS' FUNDS 572,471 759,550

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 August 2024 and were signed on its behalf by:





P Crawley - Director


Genesis Patterns Limited (Registered number: 02703057)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Genesis Patterns Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Genesis Patterns Limited (Registered number: 02703057)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 39 (2023 - 39 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 July 2023 48,872 1,359,074 27,207
Additions - 95,162 685
At 30 June 2024 48,872 1,454,236 27,892
DEPRECIATION
At 1 July 2023 - 958,646 17,497
Charge for year - 99,118 2,045
At 30 June 2024 - 1,057,764 19,542
NET BOOK VALUE
At 30 June 2024 48,872 396,472 8,350
At 30 June 2023 48,872 400,428 9,710

Genesis Patterns Limited (Registered number: 02703057)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2023 37,041 4,250 1,476,444
Additions - 1,640 97,487
At 30 June 2024 37,041 5,890 1,573,931
DEPRECIATION
At 1 July 2023 25,321 3,251 1,004,715
Charge for year 2,930 943 105,036
At 30 June 2024 28,251 4,194 1,109,751
NET BOOK VALUE
At 30 June 2024 8,790 1,696 464,180
At 30 June 2023 11,720 999 471,729

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 233,296 517,860
Other debtors 918 918
Prepayments and accrued income 3,084 2,824
237,298 521,602

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 66,278 83,112
Tax - 16,343
Social security and other taxes 16,012 19,833
VAT 39,438 50,911
Other creditors 13,559 10,634
Directors' current accounts 88,505 56,229
Accrued expenses 11,359 11,152
245,151 258,214

Loans from directors are provided interest free and are repayable on demand.

Genesis Patterns Limited (Registered number: 02703057)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans - 2-5 years 10,834 20,834
Preference shares 100 100
10,934 20,934

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Preference shares 100 100

8. PROVISIONS FOR LIABILITIES
30.6.24 30.6.23
£    £   
Deferred tax 116,003 105,714

Deferred
tax
£   
Balance at 1 July 2023 105,714
Accelerated capital allowances 10,289
Balance at 30 June 2024 116,003

The deferred tax relates wholly to accelerates capital allowances.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
100 Ordinary shares £1.00 100 100

Genesis Patterns Limited (Registered number: 02703057)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

10. RESERVES
Retained
earnings
£   

At 1 July 2023 759,450
Deficit for the year (187,079 )
At 30 June 2024 572,371