GENESIS WEALTH HOLDINGS LTD | |
UNAUDITED FINANCIAL STATEMENTS | |
FOR THE YEAR ENDED 31 DECEMBER 2024 | |
Company registered number: |
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STATEMENT OF FINANCIAL POSITION AT |
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Note | 2024 | 2023 | |||
£ | £ | £ | |||
FIXED ASSETS | |||||
Investments held as fixed assets | 3 | ||||
CURRENT ASSETS | |||||
CREDITORS: Amounts falling due within one year | 4 | ||||
NET CURRENT LIABILITIES | ( |
( |
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TOTAL ASSETS LESS CURRENT LIABILITIES | |||||
CREDITORS: Amounts falling due after more than one year | 5 | ( |
( |
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NET ASSETS | £ |
£ |
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CAPITAL AND RESERVES | |||||
Called up share capital | |||||
Share premium account | |||||
Retained earnings | ( |
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SHAREHOLDERS' FUNDS | £ |
£ |
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In approving these financial statements as directors of the company we hereby confirm the following: | |||
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. | |||
The financial statements were approved and authorised for issue by the board of directors on |
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Signed on behalf of the board of directors | |||
The notes on pages 2-6 form part of these financial statements | |
page 1 | |
GENESIS WEALTH HOLDINGS LTD | |||
NOTES TO THE ACCOUNTS | |||
FOR THE YEAR ENDED 31 DECEMBER 2024 |
1. | SIGNIFICANT ACCOUNTING POLICIES | ||
1a. | Statement of compliance | |||
Registered office: | ||||
Manchester M3 6BZ |
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These financial statements are the first financial statements that comply with FRS 102. The date of transition is 1 January 2024. | ||||
Basis of accounting | ||||
1c. | Revenue recognition | |||
1d. | Borrowing costs | |||
1e. | Taxation | |||
1f. | Inventories | |||
The notes on pages 2-6 form part of these financial statements | |
page 2 | |
GENESIS WEALTH HOLDINGS LTD | |||
NOTES TO THE ACCOUNTS (CONT.) | |||
FOR THE YEAR ENDED 31 DECEMBER 2024 |
1. | SIGNIFICANT ACCOUNTING POLICIES (CONT.) |
1g. | Short term debtors and creditors | |||
1h. | Cash and cash equivalents | |||
1i. | Interest bearing borrowings | |||
1j. | Leased assets | |||
1k. | Foreign currencies | |||
1l. | Employee benefits | |||
The notes on pages 2-6 form part of these financial statements | |
page 3 | |
GENESIS WEALTH HOLDINGS LTD | |||
NOTES TO THE ACCOUNTS (CONT.) | |||
FOR THE YEAR ENDED 31 DECEMBER 2024 |
1. | SIGNIFICANT ACCOUNTING POLICIES (CONT.) |
1m. | Discontinued operations | |||
1n. | Provisions | |||
1o. | Judgements and key sources of estimation uncertainty | |||
2. | DIRECTORS AND EMPLOYEES | ||
The average weekly number of employees during the year were as follows: | |||
2024 | 2023 | ||
No. | No. | ||
Management and administration | |||
The notes on pages 2-6 form part of these financial statements | |
page 4 | |
GENESIS WEALTH HOLDINGS LTD | |||
NOTES TO THE ACCOUNTS (CONT.) | |||
FOR THE YEAR ENDED 31 DECEMBER 2024 |
3. | INVESTMENTS HELD AS FIXED ASSETS | ||
Other | |||
participating | |||
interests | Total | ||
£ | £ | ||
Cost or valuation | |||
At 1 January 2024 | |||
At 31 December 2024 | |||
Amounts written off | |||
At 31 December 2024 | |||
Net Book Amounts | |||
At 31 December 2024 | |||
At 31 December 2023 | |||
4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
2024 | 2023 | ||
£ | £ | ||
Amounts owed to undertakings in which the company has a participating interest | |||
£ |
£ |
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The notes on pages 2-6 form part of these financial statements | |
page 5 | |
GENESIS WEALTH HOLDINGS LTD | |||
NOTES TO THE ACCOUNTS (CONT.) | |||
FOR THE YEAR ENDED 31 DECEMBER 2024 |
5. | CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR | ||
2024 | 2023 | ||
£ | £ | ||
Other loans | |||
£ |
£ |
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Analysis of borrowings: | |||
Due within five years: | |||
within 1-2 years | |||
other | |||
within 2-5 years | |||
other | |||
£1,768,600 | £2,235,400 | ||
The notes on pages 2-6 form part of these financial statements | |
page 6 |